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Analyzing China’s Fintech Industry from the Perspective of Actor–Network Theory

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  • Shim, Yongwoon
  • Shin, Dong-Hee

Abstract

The rapid development of information and communications technology is transforming the entire industry landscape, heralding a new era of convergence services. As one of the developing countries in the financial sector, China is experiencing an unprecedented level of convergence between finance and technology. This study applies the lens of actor–network theory (ANT) to conduct a multi-level analysis of the historical development of China’s financial technology (fintech) industry. It attempts to elucidate the process of building and disrupting a variety of networks comprising heterogeneous actors involved in the newly emerging convergence industry. This research represents a stepping stone in exploring the interaction between fintech and its yet unfolding social and political context. It also discusses policy implications for China’s fintech industry, focusing on the changing role of the state in fostering the growth of national industry within and outside of China.

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  • Shim, Yongwoon & Shin, Dong-Hee, 2016. "Analyzing China’s Fintech Industry from the Perspective of Actor–Network Theory," Telecommunications Policy, Elsevier, vol. 40(2), pages 168-181.
    • Handle: RePEc:eee:telpol:v:40:y:2016:i:2:p:168-181
    DOI: 10.1016/j.telpol.2015.11.005
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    Cited by:

    1. Ting Yao & Liangrong Song, 2023. "Fintech and the economic capital of Chinese commercial bank's risk: Based on theory and evidence," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(2), pages 2109-2123, April.
    2. Xiang Deng & Zhi Huang & Xiang Cheng, 2019. "FinTech and Sustainable Development: Evidence from China Based on P2P Data," Sustainability, MDPI, vol. 11(22), pages 1-19, November.
    3. Xia, Jun, 2017. "China’s telecommunications evolution, institutions, and policy issues on the eve of 5G: A two-decade retrospect and prospect," Telecommunications Policy, Elsevier, vol. 41(10), pages 931-947.
    4. Dandan Dai & Yijia Chen, 2022. "The geography of the fintech industry in China: An analysis of China’s city‐level patenting," Growth and Change, Wiley Blackwell, vol. 53(4), pages 1907-1932, December.
    5. Jiao, Zhilun & Shahid, Muhammad Shehryar & Mirza, Nawazish & Tan, Zhixiong, 2021. "Should the fourth industrial revolution be widespread or confined geographically? A country-level analysis of fintech economies," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
    6. Coffie, Cephas Paa Kwasi & Hongjiang, Zhao, 2023. "FinTech market development and financial inclusion in Ghana: The role of heterogeneous actors," Technological Forecasting and Social Change, Elsevier, vol. 186(PA).
    7. Băzăvan, Adrian, 2019. "Chinese government's shifting role in the national innovation system," Technological Forecasting and Social Change, Elsevier, vol. 148(C).
    8. Ferratti, Gustavo M. & Sacomano Neto, Mario & Candido, Silvio E.A., 2021. "Controversies in an information technology startup: A critical actor-network analysis of the entrepreneurial process," Technology in Society, Elsevier, vol. 66(C).
    9. Polasik, Michał & Huterska, Agnieszka & Iftikhar, Rehan & Mikula, Štěpán, 2020. "The impact of Payment Services Directive 2 on the PayTech sector development in Europe," Journal of Economic Behavior & Organization, Elsevier, vol. 178(C), pages 385-401.
    10. Ren, Yuning, 2024. "Unlocking the green potential through Fintech- natural resources, and economic development in resource-rich countries - An MMQR study," Resources Policy, Elsevier, vol. 90(C).
    11. Yu, Jingjing, 2024. "Stabilizing leverage, financial technology innovation, and commercial bank risks: Evidence from China," Economic Modelling, Elsevier, vol. 131(C).
    12. Kimani, Danson & Adams, Kweku & Attah-Boakye, Rexford & Ullah, Subhan & Frecknall-Hughes, Jane & Kim, Ja, 2020. "Blockchain, business and the fourth industrial revolution: Whence, whither, wherefore and how?," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    13. Wang, Jing, 2018. "From aperture satellite to "Internet finance": Institutionalization of ICTs in China's financial sector since 1991," Telecommunications Policy, Elsevier, vol. 42(7), pages 566-574.
    14. Pham Phat Tien & Nguyen Thi Huyen My, 2023. "Performance measurement for fintech company," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 13(1), pages 169-184.
    15. Hanafizadeh, Payam & Khosravi, Bayan & Badie, Kambiz, 2019. "Global discourse on ICT and the shaping of ICT policy in developing countries," Telecommunications Policy, Elsevier, vol. 43(4), pages 324-338.
    16. Payam Hanafizadeh & Mojdeh Gerami Amin, 2023. "The transformative potential of banking service domains with the emergence of FinTechs," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(3), pages 411-447, September.

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