The publishers of the Asia-Pacific Alternative Finance Report say that they will be including the city of Guiyang, in Guizhou province in their survey because of its R&D and innovation in Internet finance and the crowd-funding business.
The report, which is the work of the Cambridge Centre for Alternative Finance, Tsinghua University's Graduate School in Shenzhen, and the Sydney University Business School, has collected data on the size and growth of alternative finance markets across the Asia-Pacific region in the 2013–15 period.
The reason Guiyang was added, according to Luke Deer, director of the Cambridge Centre, was because its trends and results in alternative finance could be crucial components, then added that the survey group will be cooperating with certain institutions in Guiyang, such as Guiyang Crowdfuding Exchange.
Internet finance is an outgrowth of traditional finance that consists of emerging financial channels, credit evaluations, and third- party payment processing, which is developing rapidly in the Asia-Pacific region.
Raghavendra Rau, director of research at Cambridge's emerging financial research centre, explained that it was the rapid growth of mobile communications technology and social media in populated parts of the Asia-Pacific countries that gave an impetus to new growth in finance and that, "Internet finance in China and the Asia Pacific region has greater potential than any other region in the world."
According to Kong Ying, head of Tsinghua University's Shenzhen Graduate School of Social Science and Management, this report gives us a better understanding of China's Internet finance market development and is a milestone on the path to the future Internet finance development because the Chinese mainland and Asia-Pacific region for this industry are still a blank spot that hinders the development of related industries and policies.
In summary, the dean of the Sydney University Business School, Greg Whitwell, said, "The healthy development of Internet finance is inseparable from policy support," then added that many countries lack reliable industry data support for Internet financial regulations so the report is expected to fill the gap for Asia-Pacific countries.
