The Impact of Fintech on Economic Growth: Evidence from China

Financial technology (fintech) has seen fast development recently in China; however, studies exploring the contributions of fintech to China’s economic growth remain limited. Thus, this study motivated by knowledge gaps and expansion examined: (i) impact submeasures third-party payment, credit, insurance on growth; (ii) regional provincial (iii) causality relationships between growth. By using a sample 31 provinces China instrumental variable generalized method moments (IV–GMM) technique, established following: have statistically significant positive effect Specifically, 10% rise fintech, raises 8%, 4%, 5%, 16%, respectively; eastern region highest fintech. Moreover, Zhejiang province at level; unidirectional exists from payment credit growth, insurance; bidirectional This article explicitly suggests substantial institutional reforms promote healthy China.