Financial Inclusion In China: Deepening High-Level Financial Inclusion For Foreigners In China

North America Academic Research , Volume 2, Issue 6 - June 2019, 2(6) ; 121 - 147

27 Pages Posted: 2 Jul 2019

See all articles by Mark Yama Tampuri Jnr

Mark Yama Tampuri Jnr

Jiangsu University; Jiangsu University

Yusheng Kong

Jiangsu University

Isaac Asare

affiliation not provided to SSRN

Date Written: June 1, 2019

Abstract

There have been researches in Financial Inclusion in China; however, not much has been researched on Financial Inclusion indicators for foreigners in China. Base on the report of the 2014 Global Findex Database, the paper analyses the determinants of Financial Inclusion in China in general and touches on some reasons for those outcomes. Also, researchers determine financial inclusion indicators and depth for foreigners in China. Questionnaires on Financial Inclusion indicators and individual characteristics are administered to foreigners in China and observe that foreigners largely have access to basic banking services as a transaction account from their banks. Largely, foreigners are satisfied with their bank's services; however, they feel limited in their inability to acquire some sophisticated banking services except for basic service. Observation is made that Wechat and Alipay Payment Services remain the most accessed and used financial services platform which provide the most depth financial access and usage without limitation for foreigners in China, hence foreigners relies mostly on the two services than their traditional bank for their financial transactions.

Keywords: Financial Inclusion, Financial Institutions, Government Policy and Regulation,Financial Markets, Economics of Minorities, Races, Indigenous Peoples and Immigrants, Regulation and Business Law

JEL Classification: G2, G21, G28, O16, J15, K2

Suggested Citation

Tampuri Jnr, Mark Yama and Kong, Yusheng and Asare, Isaac, Financial Inclusion In China: Deepening High-Level Financial Inclusion For Foreigners In China (June 1, 2019). North America Academic Research , Volume 2, Issue 6 - June 2019, 2(6) ; 121 - 147. Available at SSRN: https://ssrn.com/abstract=3412934

Mark Yama Tampuri Jnr (Contact Author)

Jiangsu University ( email )

Xuefu Rd. 301
Xhenjiang, CA Jiangsu Province 212013
China

Jiangsu University ( email )

Jiangsu University
Zhenjiang, CA
China

Yusheng Kong

Jiangsu University ( email )

Xuefu Rd. 301
Xhenjiang, CA Jiangsu Province 212013
China

Isaac Asare

affiliation not provided to SSRN

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