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What background has allowed the innovation of Fintech firms in China i.e. what led to their ability to develop in the manner they have contrasting

  1. What background has allowed the innovation of Fintech firms in China i.e. what led to their ability to develop in the manner they have contrasting it to a western fintech firm like facebook.
  2. 5 finance companies that the Chinese government has recently (last 18 months) been clamping down on. Why the government may have focused on these firms (either specifically and/or generally).

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