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A Case Study of Ant Finance’s Innovation Journey — From a Platform Economy Perspective

In: Reviews and Advances in Fintech I

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  • Herve Alexandre
  • Kok Lian Woo

Abstract

During the spring of 2021, the Chinese government profoundly changed its relationship with large digital platforms; the government had decided to strengthen their supervision, fight against monopolies, and promote fair competition. Until then, technology giants such as Alibaba, Tencent, Baidu, and JD.Com dominated a fast-growing market, especially in China, where Fintech represented a very important part of the retail market among middle-class consumers. Various political and economic reasons can be provided for this choice. This paper showcases the economic power of the two-sided markets approach of these platforms today and describes the late but violent reaction of the Chinese government, worried about its economic and monetary sovereignty.

Suggested Citation

  • Herve Alexandre & Kok Lian Woo, 2025. "A Case Study of Ant Finance’s Innovation Journey — From a Platform Economy Perspective," World Scientific Book Chapters, in: David Kuo Chuen Lee & Daniel Liebau & Cindy Xin Deng (ed.), Reviews and Advances in Fintech I, chapter 10, pages 127-143, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789819806751_0010
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    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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