The Hurun Report has just released its first list of the top 10 enterprises in China’s fintech sector in terms of value.
On 27 October Hurun released the Hurun China Top 10 Most Valuable Fintech Companies for 2020, which ranks privately operated fintech companies in China in terms of either their market capitalisation or estimated value.
Hurun defined fintech firms as those that provide “new operating models, technological applications or products and services that are driven by emerging technologies such as big data, the blockchain, cloud computing and artificial intelligence, and have a strong impact on financial markets as well as financial services, operations and supply.”
Alibaba-affiliate Ant Group came in first place, followed by Ping An-affiliate Lufax, East Money and JD Digits.
The Yangtze River Delta cities of Shanghai and Hangzhou were each host to three of the top 10 companies, while Shenzhen was home to two, and Nanjing and Beijing one each.
The Hurun China Top 10 Most Valuable Fintech Companies for 2020
|No.||Company||Value (yuan)||Primary operations||Chair||Headquarters|
|1||Ant Group||2.1 trillion||Payments, wealth management, micro-lending||Jing Xiandong||Hangzhou|
|2||Lufax||270. billion||Wealth management||Ji Caisheng||Shanghai|
|3||East Money||221.5 billion||Online financial information services||Qi Shi||Shanghai|
|4||JD Digits||200 billion||Payments, wealth management, micro-lending||Liu Qiangdong||Beijing|
|5||WeBank||200 billion||Micro-Loans, small and medium-sized enterprise financing||Gu Min||Shenzhen|
|6||Hundsun||101 billion||Fintech solution plans||Peng Zhenggang||Hangzhou|
|7||Hithink Royalflush||86 billion||Online financial information services||Yi Zheng||Hangzhou|
|8||Suning Finance||56 billion||Payments, wealth management, micro-lending||Huang Jinlao||Nanjing|
|9||ZhongAn||50 billion||Insurance||Ou Yaping||Shanghai|
|10||One Connect||49 billion||Fintech solution plans||Shenzhen|