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FinTech as a catalyst for affiliate innovation: Insights from cross-regional innovation in China

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  • Lian, Hanyu

Abstract

The rapid rise of FinTech has profoundly shaped cross-regional collaborative innovation by overcoming geographic barriers and enabling intercity knowledge recombination and joint technological advancement. Using panel data from Chinese prefecture-level cities from 2011 to 2022, this study examines how and to what extent FinTech promotes such collaboration. Results from two-way fixed effects models indicate that FinTech significantly enhances cross-regional innovation, and the findings remain robust across specifications. Mechanism analysis shows that venture capital activity and improved resource allocation efficiency are the primary transmission channels. Quantile regression results further reveal that FinTech’s impact is stronger in less innovative cities, underscoring structural heterogeneity. Overall, the study deepens empirical understanding of FinTech’s spatial effects and provides valuable implications for regional innovation policy and digital finance governance.

Suggested Citation

  • Lian, Hanyu, 2026. "FinTech as a catalyst for affiliate innovation: Insights from cross-regional innovation in China," Finance Research Letters, Elsevier, vol. 87(C).
    • Handle: RePEc:eee:finlet:v:87:y:2026:i:c:s154461232502149x
    DOI: 10.1016/j.frl.2025.108896
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