Caixin

A man stands at a crossroads in Lujiazui financial district in Pudong, Shanghai, China, 5 March 2021. (Aly Song/Reuters)

Lesson for Jack Ma's Ant: Finance is finance and technology is technology

Chinese author and fintech researcher Yang Jun says that while the fintech industry has been booming over the past few years, not everybody seems to know that it is really about using technology to complement finance, which remains the foundation. Knowing this distinction will help one better understand the current push to impose regulations on the sector.