CPA Australia: Chinese Businesses Lead FinTech Usage in Regional Survey

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BEIJING, CHINA – Media
OutReach
 – 14
August 2020 – Driven by the Government’s FinTech
development plan and innovation strategy, China is leading the way in business
FinTech usage across the region, according to a survey of business FinTech usage by CPA
Australia
, one of the
world’s largest accounting bodies.

CPA Australia: Chinese Businesses Lead FinTech Usage in Regional Survey

CPA Australia: Chinese Businesses Lead FinTech Usage in Regional Survey

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The
survey found that 80 per cent of respondents from China reported that their businesses
had used at least one FinTech product or service in the past twelve months,
which is the highest result of the surveyed markets. Further, Chinese businesses
were the most likely to maintain or increase their usage of mobile
payments/digital wallets, robo-advisory/chatbots, wealth management technology
and FinTech lending in the past twelve months.

Tony Chan, Deputy President of CPA Australia
South China Committee says that the fast-growing business FinTech usage
in China is boosted by the development of emerging technologies and changing
consumer behaviour. 

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“Supported by a number of favourable Government policies, including
financial and tax incentives, such as the 175 per cent super deduction for eligible R&D expenditure
and greater funding for AI development by local governments, Chinese businesses
are more inclined to utilise FinTech compared with businesses from the other surveyed markets.”

“Another factor that has led to a boost in
business FinTech usage in China is changing consumer behaviour. Chinese
millennials, who are digital natives, are a major force in the consumer market,
and this has further spurred Chinese businesses to adopt FinTech.”

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The survey findings also indicate there is a clear link between the use of FinTech
and business growth. It found that
74 per cent of Chinese businesses that were more profitable in 2019 either
maintained or increased their usage of mobile payments or digital wallets in
the past 12 months, and 54 per cent of Chinese businesses that were more profitable in 2019 either
maintained or increased their usage of robo-advisory/chatbots.

“FinTech will be an engine for business growth
and we believe
China’s leadership in FinTech usage amongst businesses will continue.” Mr Chan comments.

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84 per cent of surveyed respondents from China
believe their businesses will use at least one FinTech product or service in the next 12 months, according to the
survey.

However, the impact of the rapid growth of
FinTech usage in Chinese businesses has also created challenges. According to
the survey, respondents from China were most likely to select cybersecurity
concerns (41 per cent) and shortage of FinTech talent (37 per cent) as the key
barriers to business FinTech adoption.

“Amongst the surveyed markets, we note that
businesses in China were most likely to choose a shortage of FinTech talent as
one of their key challenges to FinTech adoption, which is a consequence of
growing business usage of FinTech in China.

“To meet this challenge, we would welcome
more cross-disciplinary FinTech degree programs and we suggest that businesses,
research institutions and universities in China collaborate in developing new
talent development plans to cultivate, recruit and retain FinTech talent,” Mr Chan
says.

For more information on CPA
Australia’s Business FinTech Usage Survey:

CPA Australia’s Business FinTech Usage Survey –  Preliminary, Mainland China results

CPA
Australia’s Business FinTech Usage Survey — Infographic

About the survey

The
survey was conducted by CPA Australia from 23 June to 14 July 2020. A total of
573 responses were received from accounting and finance professionals in
Mainland China, Hong Kong, Singapore
and Malaysia, with 158 respondents from Mainland China.


About CPA Australia

CPA Australia is one of the
world’s largest accounting bodies with more than 166,000 members working in 100
countries and regions around the world, and with more than 25,000 members
working in senior leadership positions. It has established a strong membership
base of more than 19,000 in the Greater China region.

CPA Australia: Chinese Businesses Lead FinTech Usage in Regional Survey

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CPA Australia: Chinese Businesses Lead FinTech Usage in Regional Survey - Brand Spur

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HONG KONG SAR - Media OutReach - 14 May 2021 - Consumers nowadays are more than spoilt for choice, in fact, many people are affected by 'information paralysis', that is, having too much information to effectively decide, often resulting in either a wrong decision or a poorly evaluated one. In this article, TECNO helps you to make good decisions amongst the three latest Android phones. They are TECNO CAMON 17 Pro, Samsung A51 and Redmi Note 9 Pro.

All three brands vary in terms of design, features, and functionality. TECNO, an increasingly globally popular brand, is a new generation of smartphone brand today with tasteful artistic design and contempary cutting-edge camera technology. Samsung and Redmi have been fan favourites, and their smartphone models are often popular amongst those most price-conscious consumers.

Camera function - front and rear cameras


CPA Australia: Chinese Businesses Lead FinTech Usage in Regional Survey - Brand Spur


The consumers nowadays are very savvy in understanding the technology and features that goes into each smartphone model. One of these considerations is the camera capabilities and the supporting software. TECNO CAMON 17 Pro clear winner with a 48 MP front camera, while both the Samsung A51 and Redmi Note 9 Pro cameras are at 32 MP and 16MP respectively, hence allowing the user of TECNO CAMON 17 Pro to capture selfies with quality that is comparable to even rear cameras on some smartphones. Considering the rear camera, TECNO CAMON 17 Pro and Redmi Note 9 Pro are equipped with 64MP rear ultra quad camera, while the Samsung A51 maxes out at 48MP.

What is more fascinating is that the TECNO CAMON 17 Pro comes with trademarked TAIVOS technology, which stands for TECNO AI Vision Optimization Solution. It provides users with extremely good visuals, even in low-light environments. TAIVOS can blur out the clutter in the background and optimize image clarity, thereby enhancing night photography effects. Therefore, making it difficult for other mobile phones to bring users a brighter experience in dark environments. The TECNO CAMON 17 Pro is great for anyone who loves to take selfies as keepsakes. The CAMON 17 Pro's front cameras are just as outstanding as its rear – TECNO is a pioneer in this industry with a 48MP front camera. The functions of TECNO CAMON 17 Pro are smoother than similar products with both multi-camera and AI camera modes, providing breath-taking visuals.

Battery life and storage space


CPA Australia: Chinese Businesses Lead FinTech Usage in Regional Survey - Brand Spur


Powerful cameras need equally lasting battery and storage space. The TECNO CAMON 17 Pro has enough space for just about anything with 256GB ROM + 8GB RAM whereas the Samsung A51 and the Redmi Note 9 Pro has only 128GB ROM + 6GB RAM respectively, which is half of what the TECNO CAMON 17 Pro can store.

In addition, the TECNO CAMON 17 Pro has an enormous 5000mAh battery so you do not need to worry about your phone not being able to function when you need it most. The Samsung A51 has a smaller battery whereas the Redmi Note 9 Pro has a slightly bigger battery of 5020mAh, but that difference is negated by CAMON 17 Pro's flash charging technology as the phone's battery can be charged faster. And the 33W fast charger of CAMON 17 Pro enable a quick charge of up to 70% in just 30 minutes, which is an upgrade compared to the 15W charger of the Samsung A51 and 30W charger of Redmi Note 9 Pro.

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Mobile phone technicalities


CPA Australia: Chinese Businesses Lead FinTech Usage in Regional Survey - Brand Spur


When it comes to visual real estate, size does matter. Amongst the three smartphone models, the Samsung A51 offers the smallest screen real estate, a 6.5 inches full HD screen while the Redmi Note 9 Pro and TECNO CAMON 17 Pro have bigger screens at 6.67 and 6.8 inches, respectively. Here, the TECNO CAMON 17 Pro does have an edge over the rest and what's more, the 90Hz smooth refreshing rate of TECNO CAMON 17 Pro enable the users never worry about any animation rolling issues on the phone, the 90 Hz super-high refreshing rate offers a smooth, snappy and refreshing experience. The CAMON 17 Pro's full HD mobile phone provides the user with more ease in controlling as well as a more comprehensive view of the mobile games and videos on the phone. Additionally, the TECNO CAMON 17 Pro has an operating system of Android 11 whereas the Samsung A51 and Redmi Note 9 Pro are only at Android 10.

So which phone would you prefer after reading the comparisons? After our comparisons, the TECNO CAMON 17 Pro stands out for the young, adventurous generation that is looking for a phone that can not only perform the basic functions well, but also have additional tools that add so much value to a phone. Redmi Note 9 Pro performed slightly worse in the front camera, fast charger and the screen, which could be a second choice with limited budget, while Samsung A51 stands out with its brand impact, and with no other obvious strength.


CPA Australia: Chinese Businesses Lead FinTech Usage in Regional Survey - Brand Spur
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Latest News

TECNO reveals how the highly anticipated TECNO CAMON 17 Pro measure against its competitors

HONG KONG SAR - Media OutReach - 14 May 2021 - Consumers nowadays are more than spoilt for choice, in fact, many people are affected by 'information paralysis', that is, having too much information to effectively decide, often resulting in either a wrong decision or a poorly evaluated one. In this article, TECNO helps you to make good decisions amongst the three latest Android phones. They are TECNO CAMON 17 Pro, Samsung A51 and Redmi Note 9 Pro.

All three brands vary in terms of design, features, and functionality. TECNO, an increasingly globally popular brand, is a new generation of smartphone brand today with tasteful artistic design and contempary cutting-edge camera technology. Samsung and Redmi have been fan favourites, and their smartphone models are often popular amongst those most price-conscious consumers.

Camera function - front and rear cameras


CPA Australia: Chinese Businesses Lead FinTech Usage in Regional Survey - Brand Spur


The consumers nowadays are very savvy in understanding the technology and features that goes into each smartphone model. One of these considerations is the camera capabilities and the supporting software. TECNO CAMON 17 Pro clear winner with a 48 MP front camera, while both the Samsung A51 and Redmi Note 9 Pro cameras are at 32 MP and 16MP respectively, hence allowing the user of TECNO CAMON 17 Pro to capture selfies with quality that is comparable to even rear cameras on some smartphones. Considering the rear camera, TECNO CAMON 17 Pro and Redmi Note 9 Pro are equipped with 64MP rear ultra quad camera, while the Samsung A51 maxes out at 48MP.

What is more fascinating is that the TECNO CAMON 17 Pro comes with trademarked TAIVOS technology, which stands for TECNO AI Vision Optimization Solution. It provides users with extremely good visuals, even in low-light environments. TAIVOS can blur out the clutter in the background and optimize image clarity, thereby enhancing night photography effects. Therefore, making it difficult for other mobile phones to bring users a brighter experience in dark environments. The TECNO CAMON 17 Pro is great for anyone who loves to take selfies as keepsakes. The CAMON 17 Pro's front cameras are just as outstanding as its rear – TECNO is a pioneer in this industry with a 48MP front camera. The functions of TECNO CAMON 17 Pro are smoother than similar products with both multi-camera and AI camera modes, providing breath-taking visuals.

Battery life and storage space


CPA Australia: Chinese Businesses Lead FinTech Usage in Regional Survey - Brand Spur


Powerful cameras need equally lasting battery and storage space. The TECNO CAMON 17 Pro has enough space for just about anything with 256GB ROM + 8GB RAM whereas the Samsung A51 and the Redmi Note 9 Pro has only 128GB ROM + 6GB RAM respectively, which is half of what the TECNO CAMON 17 Pro can store.

In addition, the TECNO CAMON 17 Pro has an enormous 5000mAh battery so you do not need to worry about your phone not being able to function when you need it most. The Samsung A51 has a smaller battery whereas the Redmi Note 9 Pro has a slightly bigger battery of 5020mAh, but that difference is negated by CAMON 17 Pro's flash charging technology as the phone's battery can be charged faster. And the 33W fast charger of CAMON 17 Pro enable a quick charge of up to 70% in just 30 minutes, which is an upgrade compared to the 15W charger of the Samsung A51 and 30W charger of Redmi Note 9 Pro.

Mobile phone technicalities


CPA Australia: Chinese Businesses Lead FinTech Usage in Regional Survey - Brand Spur


When it comes to visual real estate, size does matter. Amongst the three smartphone models, the Samsung A51 offers the smallest screen real estate, a 6.5 inches full HD screen while the Redmi Note 9 Pro and TECNO CAMON 17 Pro have bigger screens at 6.67 and 6.8 inches, respectively. Here, the TECNO CAMON 17 Pro does have an edge over the rest and what's more, the 90Hz smooth refreshing rate of TECNO CAMON 17 Pro enable the users never worry about any animation rolling issues on the phone, the 90 Hz super-high refreshing rate offers a smooth, snappy and refreshing experience. The CAMON 17 Pro's full HD mobile phone provides the user with more ease in controlling as well as a more comprehensive view of the mobile games and videos on the phone. Additionally, the TECNO CAMON 17 Pro has an operating system of Android 11 whereas the Samsung A51 and Redmi Note 9 Pro are only at Android 10.

So which phone would you prefer after reading the comparisons? After our comparisons, the TECNO CAMON 17 Pro stands out for the young, adventurous generation that is looking for a phone that can not only perform the basic functions well, but also have additional tools that add so much value to a phone. Redmi Note 9 Pro performed slightly worse in the front camera, fast charger and the screen, which could be a second choice with limited budget, while Samsung A51 stands out with its brand impact, and with no other obvious strength.


CPA Australia: Chinese Businesses Lead FinTech Usage in Regional Survey - Brand Spur
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