KPMG released the China Fintech 50 report in Beijing on Jan 18. This year KPMG has adopted a "Double-50" approach, including 100 outstanding fintech companies on the list.

They were quantitatively assessed in five areas: Technology and data, innovation and change, financial services offered, recognition in capital markets and development foresight.

The report found all of these companies are headquartered in the following 10 cities, which mostly have better resources.

Hangzhou, capital of East China's Zhejiang province, ranked 4th with four fintech companies on the list.