This is a joint industry report by Oliver Wyman and China Securities Credit Investment Company Limited (“CSCI”).

We want to express our sincere gratitude to Jianwen Zhang (Chief Strategy Officer of CSCI), and Zhe Zhang (General Manager of Online Products Department of CSCI), and many other colleagues at CSCI for their valuable contributions to insights of latest technology trend and CSCI initiatives.

Additional special thanks also go to Peter Reynolds and Tao Weng (both of whom are partners at Oliver Wyman Greater China) for the expert inputs during the research and drafting process of the report. 

Lastly, thanks to Oliver Wyman Greater China financial services team Cindy Zhang, Anny Shen and Veronica Yin for their valuable contribution in the research and drafting process.