China's Fintech Investment Soars 67% Despite Global Fall

(Hong Kong) — Investment in financial technology companies in China soared in the third quarter, while political uncertainties in other parts of the world had investors taking a more cautious approach, a KPMG report shows.

More than $1 billion poured into venture-capital-backed fintech companies in China through 12 investment projects in the third quarter, up 67% from the previous three months, according to a report released on Thursday that was jointly published by the audit firm and CB Insights, a venture capital database.