Chinese Digital Finance Firms Going Global Along the Belt and Road

This chapter explores how Chinese digital finance firms have expanded overseas along the Belt and Road and how this process is transforming financial services in partner countries. It outlines the evolution, driving forces, and major forms of this expansion, including technology export, digital payment services, and collaboration with local institutions. Using app download data, case studies, and enterprise-level evidence, the chapter shows that Chinese digital finance has grown most rapidly in Southeast Asia, Europe and Central Asia, and sub-Saharan Africa. It also finds that this expansion has helped improve financial inclusion, reduce financing barriers, and support the growth of local micro and small enterprises. At the same time, fintech firms, banks, and non-bank financial institutions play distinct roles in job creation and access to finance. The chapter concludes by highlighting the challenges of regulatory compliance, data security, localization, and weak digital infrastructure, and offers policy recommendations for more inclusive and sustainable overseas development.