China's fintech insurgents march towards IPO

Disruptive startups have China’s state-owned banks on the back foot. Now they are seeking capital to build on their initial success.

When China Premier Li Keqiang visited internet bank WeBank in Qianhai, Shenzhen, in January and granted a Rmb35,000 ($5,549) loan to a truck driver at the push of a button, it signaled political support at the very top for the country’s burgeoning fintech sector.

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