The Impact Of Fintech On Innovation

The development of global industrial chain has entered a new stage of digitization and intelligence,while the bonus of Chinese population is declining.Since the previous bonus is limited,China need to find the way to commit the development of industry.Financial support is a powerful booster in technological innovation.Fintech is a huge innovation in Financial.Revolution based on Fintech has significantly increased the efficiency of investment,and it simplified the service procedure of financial institute.It has a significant influence on the development of digital economy and release the funding problem of firm.This paper define “Fintech” as tech development and it discussed the actual contribution of Fintech.The contribution is dividend into two parts,including one in innovation of city and one in funding of middle firm.Then this paper discusses the contribution of Fintech on economic entity logically.Besides,this paper carry out the empirical study based on tax dataset and China city Statistical Yearbook.The result shows that Fintech can improve the short of funding strength in middle firm,and the improvement devise in different city or different industry.In the mean time,it also prove that Fintech can increase the digital economic development of city,specifically the Fintech can provide the available capital for city,then the middle and small firm of high tech can get money in this city.This paper classified the fast speed development has great impact on Chinese economy and it suggests the guidance and supervision on Fintech.Fintech can make its due contribution to serving people’s livelihood and promoting the healthy and sustainable development of digital economy.