Chinese student from the southern part of China, Shenzhen city. He had the opportunity to witness the evolution of the digital platform like the Ant group. Around the 1970s, people barely use credit cards, but now everyone is using them and what has been considered a small-scale impact measure, the digital platform, has a large-scale impact on Chinese financial structure. And these tech empires have propelled the digitalization of finance and drives him to rethink the role of conventional financial institutions. Having a background in economics and an ongoing project on transnational governance in STG, he is also seeking the interconnection within various topics, including Finance inclusion, Sustainable development, Digitalization, and Entrepreneurship in the future.
I noticed that when we talk about raising funds for the green transition, the academic community tries to solve the problem of the mismatch between funds and green projects. Borrowing the concept of supply and demand, I think this is to discuss the issue from the perspective of the capital supply side. Questioning from the demand perspective, because I noticed that a considerable number of Chinese small and medium-sized enterprise (SMEs）clearly stated that they do not need external financing. About 40% of the companies in the sample indicated that they do not need external financing, even there was only a small increase during the pandemic in 2020, I would like to ask, Why these companies do not need external financing? Is it because they really don’t lack money? How we should rethink the role of bank and other financial institutions?