On April 15, 2025,the report titled "FinTech Empowering the Belt and Road Initiative: A Case Study of Southeast Asia," led by Professor Cai Cuihong of the Institute of International Studies at Fudan University (IIS Fudan), was officially released at the World Internet Conference Asia-Pacific Summit held in Hong Kong.

Prof. Cai Cuihong released the report titled "FinTech Empowering the Belt and Road Initiative: A Case Study of Southeast Asia"
As the Belt and Road Initiative (BRI) enters a new phase of high-quality development, financial technology (FinTech) is emerging as a key enabler for deepening regional cooperation and accelerating strategic implementation. This report provides a comprehensive overview of FinTech development along BRI countries—particularly in Southeast Asia—examining market trends, major players, and investment strategies. More importantly, it analyzes the role of FinTech in facilitating the five key pillars of BRI cooperation: policy coordination, infrastructure connectivity, unimpeded trade, financial integration, and people-to-people bonds.

Cover of the report titled "FinTech Empowering the Belt and Road Initiative: A Case Study of Southeast Asia"
FinTech, the report argues, is injecting fresh dynamism into the BRI by enhancing infrastructure financing efficiency, promoting interoperability in cross-border payment systems, supporting the expansion of cross-border trade and e-commerce, strengthening trust and security in financial trans-actions, and widening the reach of inclusive financial services. At the same time, Chinese companies face a range of emerging challenges, such as regulatory frictions, market fragmentation, intensified local competition, and geopolitical uncertainties. The report concludes with targeted recommendations for governments, enterprises, and financial institutions—emphasizing the importance of local adaptation, cross-border data governance, green FinTech development, and multilateral regulatory collaboration.
Overall, this report aims to offer a strategic framework and roadmap for China’s participation in BRI FinTech cooperation, helping to translate domestic experience into actionable regional partner-ships and contributing to the development of an open, inclusive, and sustainable digital economy.
Research Team
Chair: Cai Cuihong, Professor at Fudan University
Members
Zhang Luyao, PhD Candida te at Fudan University
Yu Dahao, PhD Candida te at Fudan University
Li Yuhua, PhD Candida te at Fudan University
Zhang Ruoyang, PhD Candida te at Fudan University
Yin Jiahui, PhD Candida te at Fudan University
Zhao Lijuan, PhD Candida te at Fudan University

Contents of the report titled "FinTech Empowering the Belt and Road Initiative: A Case Study of Southeast Asia"
Click to download:
FinTech Empowering the Belt and Road Initiative A Case Study of Southeast Asia.pdf