Emerging technologies can help businesses gain innovative edge

Embracing new technology will help traditional financial services firms with innovative tools and support Chinese financial sector's opening up, the CEO of a top financial technology start up said in Boao, Hainan province.

Amid the global wave of technology disruption, Chinese fintech companies are seeking innovative business models to reach targeted clients and strengthen compliance, Yuan Chenglong, CEO of Up Finance, a Chinese fintech firm, told China Daily during the Boao Forum for Asia 2018.

As a delegate from the emerging fintech business, Yuan believed that the development of financial technology will support the new type of financing institutions in China, satisfy the tightening regulations and accelerate the financial sector's opening up.