A Case Study of Ant Finance's Innovation Journey from a Platform Economy

Herve Alexandre () and Kok Lian Woo
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Herve Alexandre: DRM-Finance - DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique, DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique
Kok Lian Woo: Shenzen Technology University, DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique, Shenzhen University [Shenzhen]

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Abstract: During the spring of 2021, the Chinese government profoundly changed its relationship with large digital platforms; the government had decided to strengthen their supervision, fight against monopolies, and promote fair competition. Until then, technology giants such as Alibaba, Tencent, Baidu, and JD.Com dominated a fast-growing market, especially in China, where Fintech represented a very important part of the retail market among middle-class consumers. Various political and economic reasons can be provided for this choice. This paper showcases the economic power of the two-sided markets approach of these platforms today and describes the late but violent reaction of the Chinese government, worried about its economic and monetary sovereignty.

Keywords: Innovation; China; Platform; Two-sided market; Ant Finance (search for similar items in EconPapers)
Date: 2023-05-18
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Published in World Scientific Annual Review of Fintech, 2023, 01, ⟨10.1142/S2811004823500057⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04609115

DOI: 10.1142/S2811004823500057

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