Is China’s FinTech sector just another knockoff?

The number of counterfeit products pumped out of China is unprecedented. Their total value adds up to $1.2 trillion, which accounts for 63.2% of the world’s total. Chinese make fake Gucci clothing and Cartier watches, open Apple stores that aren’t authorized retailers and have even duplicated global investment bank Goldman Sachs. So whether China’s technology sector is another pirated import is a fair question. And the answer isn’t black and white. “China never really stopped being a copycat, and that’s why its tech companies aren’t changing the world,” read the headline of an opinion piece in the South China Morning Post in April. Read more: