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Harnessing FinTech for sustainable mineral development with innovative financing strategies in China

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  • Niu, Juanjuan
  • He, Jun
  • He, Yiqun

Abstract

The mining industry, a cornerstone of China's economic growth, stands at a crossroads, facing the dual challenges of resource depletion and environmental degradation. In response, this study pioneers an innovative approach to identify and evaluate sustainable mineral development projects in China. This study employs a structured approach, integrating the Fuzzy Analytic Hierarchy Process (AHP) and the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS)-Grey methods, to identify essential criteria, sub-criteria, and prioritize Financial Technology (FinTech) strategies conducive to responsible mineral development. In the study, the through literature review were conducted to identify the key criteria, sub-criteria, and strategies for the analysis. The Fuzzy AHP analysis assesses six main criteria to represent a holistic framework for evaluating mineral projects. Within these criteria, specific sub-criteria are identified as focal points. The subsequent TOPSIS-Grey analysis ranks FinTech strategies based on their effectiveness in promoting sustainable mineral development. The findings of Fuzzy AHP method showed that Financial Viability, Regulatory Compliance, and Technological Innovation are the key criteria. Besides, the TOPSIS-Grey approach indicated that Blockchain Technology emerges as the preeminent strategy, followed by Supply Chain Finance Platforms and Carbon Credit Trading. These strategies include strengthening transparency, financial mechanism as well as environmental responsibility using technology in developing minerals. This study provides direction on how china contributes to sustainable management of mineral resource development and technology advancement worldwide.

Suggested Citation

  • Niu, Juanjuan & He, Jun & He, Yiqun, 2024. "Harnessing FinTech for sustainable mineral development with innovative financing strategies in China," Resources Policy, Elsevier, vol. 90(C).
    • Handle: RePEc:eee:jrpoli:v:90:y:2024:i:c:s0301420724000643
    DOI: 10.1016/j.resourpol.2024.104697
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