The Impact of COVID-19 on Financial Technology Enterprises and Countermeasures -- Taking Ping an Insurance of China as an Example

Research Article
Open access

The Impact of COVID-19 on Financial Technology Enterprises and Countermeasures -- Taking Ping an Insurance of China as an Example

Hongzhou Sun 1*
  • 1 Shanxi University of Finance and Economics    
  • *corresponding author 3074240160@qq.com
Published on 13 September 2023 | https://doi.org/10.54254/2754-1169/19/20230127
AEMPS Vol.19
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-81-2
ISBN (Online): 978-1-915371-82-9

Abstract

Financial technology enterprises are essential and important in promoting economic progress and social development. Financial technology companies have seen their performance decline amid the pandemic, but the epidemic has also accelerated their push to go online. It is of great significance to analyze the impact of COVID-19 on financial technology. This study analyzed the impact of the epidemic on fintech enterprises by the existing literature and practical problems. The study also took Ping An Insurance of China (Ping An), an outstanding financial technology enterprise, as an example to examine the impact of the epidemic on it and its coping strategies. In the study, some suggestions are provided for financial technology companies. After the epidemic, financial technology enterprises need to increase financial need, accelerate the speed of online business and build a sense of social responsibility.

Keywords:

COVID-19, financial technology, online business, Ping An insurance of China

Sun,H. (2023). The Impact of COVID-19 on Financial Technology Enterprises and Countermeasures -- Taking Ping an Insurance of China as an Example. Advances in Economics, Management and Political Sciences,19,123-128.
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References

[1]. Xiong, J., Zhang, Y., Dong, X. L.: The impact of fintech on the performance of commercial banks influence. Economic Review, (229), 89-104 (2021).

[2]. Liu, Y. B., Wu, M., Jing Y.T., Wu, Q.: Countermeasures of financial innovation to support the high-quality development of technology-based small and micro enterprises in the post-epidemic period: A case study of Nanjing. Journal of Jinling Institute of Science and Technology (Social Science Edition) 35(01), 1-6 (2021).

[3]. Sa, X., Mi, C.: How financial technology enterprises turn crisis into opportunity under the epidemic situation. Science and Finance 28(04), 39-40 (2020).

[4]. Li, X. Q., He, Z. Y.: Research on the impact of financial technology development on commercial banks. Discussion on Modern Economy 8(2),50-51 (2021).

[5]. Zheng, Z. J., Ren, B.Y.: Fintech, Government Regulation and risk taking in Commercial banks. Scientific inquiry (2), 103 (2022).

[6]. Jiao, Q. H., Wang, L. L.: Analysis of the impact of COVID-19 on financial technology enterprises and countermeasures - taking 360 Finance as an example. Financial Management Research 13(10), 23-29 (2020).

[7]. Xiao, L., Dong, Y., Zhang, H. X.: Can the development of financial technology help small and micro enterprises survive the crisis? A Quasi-Natural Experiment Based on the COVID-19 Pandemic. Economic Science (6), 73-87 (2021).

[8]. Kai, Y., Chen, C. H.: Market value management and firm investment Decision: Internal logic and influence path. Financial Practice (20), 95-102 (2021).

[9]. Jin, Q. M., Liu, J.C., Guo, Z. H.: How does China's peace "break the halberd" in China's happiness? Shanghai Insurance (05), 27-31 (2022).

[10]. Li, W., Tan, S. Y., Wu, F.: Financial technology development and enterprise digital transformation - intermediary transmission based on financing constraint relief and innovation promotion. Science and Technology Management Research 42(20), 28-38 (2022).

[11]. Xu, J. F., Liao, B. N.: Enlightenment of the development of financial technology enterprises on the digital transformation of commercial bank. Tsinghua Financial Revie87(02), 95-96 (2021).

Cite this article

Sun,H. (2023). The Impact of COVID-19 on Financial Technology Enterprises and Countermeasures -- Taking Ping an Insurance of China as an Example. Advances in Economics, Management and Political Sciences,19,123-128.

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About volume

Volume title: Proceedings of the 2023 International Conference on Management Research and Economic Development

ISBN：978-1-915371-81-2(Print) / 978-1-915371-82-9(Online)
Editor：Javier Cifuentes-Faura, Canh Thien Dang
Conference website: https://2023.icmred.org/
Conference date: 28 April 2023
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.19
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Xiong, J., Zhang, Y., Dong, X. L.: The impact of fintech on the performance of commercial banks influence. Economic Review, (229), 89-104 (2021).

[2]. Liu, Y. B., Wu, M., Jing Y.T., Wu, Q.: Countermeasures of financial innovation to support the high-quality development of technology-based small and micro enterprises in the post-epidemic period: A case study of Nanjing. Journal of Jinling Institute of Science and Technology (Social Science Edition) 35(01), 1-6 (2021).

[3]. Sa, X., Mi, C.: How financial technology enterprises turn crisis into opportunity under the epidemic situation. Science and Finance 28(04), 39-40 (2020).

[4]. Li, X. Q., He, Z. Y.: Research on the impact of financial technology development on commercial banks. Discussion on Modern Economy 8(2),50-51 (2021).

[5]. Zheng, Z. J., Ren, B.Y.: Fintech, Government Regulation and risk taking in Commercial banks. Scientific inquiry (2), 103 (2022).

[6]. Jiao, Q. H., Wang, L. L.: Analysis of the impact of COVID-19 on financial technology enterprises and countermeasures - taking 360 Finance as an example. Financial Management Research 13(10), 23-29 (2020).

[7]. Xiao, L., Dong, Y., Zhang, H. X.: Can the development of financial technology help small and micro enterprises survive the crisis? A Quasi-Natural Experiment Based on the COVID-19 Pandemic. Economic Science (6), 73-87 (2021).

[8]. Kai, Y., Chen, C. H.: Market value management and firm investment Decision: Internal logic and influence path. Financial Practice (20), 95-102 (2021).

[9]. Jin, Q. M., Liu, J.C., Guo, Z. H.: How does China's peace "break the halberd" in China's happiness? Shanghai Insurance (05), 27-31 (2022).

[10]. Li, W., Tan, S. Y., Wu, F.: Financial technology development and enterprise digital transformation - intermediary transmission based on financing constraint relief and innovation promotion. Science and Technology Management Research 42(20), 28-38 (2022).

[11]. Xu, J. F., Liao, B. N.: Enlightenment of the development of financial technology enterprises on the digital transformation of commercial bank. Tsinghua Financial Revie87(02), 95-96 (2021).

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