Does Fintech Development Matter for Export Technological Sophistication? Evidence from Chinese Enterprises

Yibing Ding and Yining Sun

Emerging Markets Finance and Trade, 2025, vol. 61, issue 14, 4579-4597

Abstract: Fintech plays an important role in financial empowerment for the real economy, contributing to the development of regional trade. Based on the panel data of Chinese enterprises from 2012 to 2022, this article examines the impact and mechanism of Fintech on the improvement of export technological sophistication. The study reveals that Fintech development can enhance enterprises’ export technological sophistication by reducing financing constraints, correcting financial mismatches, optimizing the allocation of credit resources, and improving innovation capacity. Heterogeneity analysis shows that the effect of Fintech on the technological sophistication of enterprises’ export is more pronounced in samples with non-state-owned enterprises, lower levels of information disclosure, lower degrees of industry competition, and lower levels of regional financial development. Moderating effects analysis finds that the adaptability of financial regulations and the efficiency of financial contract enforcement contribute to strengthening the effect of Fintech on firms’ export technological sophistication enhancement. These findings highlight the role of technology-driven financial innovation in Chinese firms’ export upgrading and provide insights for promoting the development of financial services trade.

Date: 2025
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DOI: 10.1080/1540496X.2025.2520885

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