<p>This study aims to discuss the impact of FinTech on corporate financialization and its governance measures, revealing the dominant motive for over-financialization among Chinese enterprises. It finds that the primary motivation behind financialization among Chinese enterprises is the pursuit of profits rather than risk aversion. FinTech exacerbates this motivation by improving financial investment returns, thus enhancing the level of corporate financialization. Furthermore, FinTech exacerbates the degree of corporate over-financialization, significantly boosting the financial investment levels of enterprises that excessively hold financial investment portfolios. The external and internal governance of enterprises can be potential solutions to mitigate FinTech-induced corporate financialization. The impact of FinTech-induced corporate financialization can be alleviated through institutional investor ownership and high-quality external audits. Also, executive compensation incentives and high information transparency can reduce the financialization effects caused by FinTech.</p>