JD Finance, the financial technology (FinTech) arm of China's e-commerce giant JD.com, has cumulatively served over 100,000 small and medium-sized enterprises (SMEs), with a total amount of loans reaching 250 billion yuan ($36.4 billion), according to Chen Shengqiang, CEO of JD Finance at the Boao Forum for Asia on March 23, 2016.

According to Chen, FinTech means using big data, artificial intelligence and blockchain technology to help design financial products for financial institutions. For example, JD Baitiao, JD's online loan-providing platform, is now using 30,000 variables to carry out the credit ratings of 200 million Chinese people. "It makes automated loans without any human review," said Chen.

And the new technologies provide viable commercial models to inclusive finance. In the past, China's impoverished regions did not have access to financial services. "In the era of mobile Internet, we can solve this problem by using digital technologies and achieve the goal of inclusive development," said Li Dongrong, President of the National Internet Finance Association of China.

According to Chen, 16 percent of JD Finance's loans went to rural areas, helping 42,000 impoverished people get financial services.

Gregory D. Gibb, Co-Chairman and CEO of Shanghai Lujiazui International Financial Asset Exchange, said that FinTech will solve two major issues in China's real economy. First, the difficulty which private, small and micro enterprises face when looking for financing is expected to be ameliorated. Currently, the financing demand of SMEs and individuals accounts for 10 to 15 percent of the total, but in the coming three to five years, the figure will increase to 20 to 30 percent.

Second, risks in personal investment are expected to be lowered. Big data computing and personal investment strategies will become a core part of the market. FinTech can solve the problem of excessive concentration of individual investment and promote its diversification, said Gibb.

(Report from Boao, Hainan Province)