Abstract
Financial Technology (FinTech) is leading profound and significant changes in the structure of the global economy at an unprecedented speed with a thunderous momentum. It has subversively reconstructed the operation mode of the traditional financial industry and sown extensive and far-reaching seeds of change in the real economy. This paper aims to comprehensively and deeply scrutinize the multidimensional and omnidirectional impact of FinTech development on the real economy. FinTech has played a vital role in promoting the prosperity of the consumer market, effectively stimulating the vigor of consumption; at the same time, it has opened new channels of financing for small and medium-sized enterprises (SMEs), effectively alleviating the bottleneck of the funding that they have been facing for a long time. In addition, FinTech has significantly improved the overall efficiency of financial services, enabling financial resources to flow more efficiently and conveniently. In optimizing the efficiency of capital and resource allocation, FinTech also shows strong potential to help resources achieve better allocation. More importantly, FinTech has actively stimulated innovation and entrepreneurship, injecting a new powerful impetus for economic development.
Published Version
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