This white paper is the white paper on China’s fintech ecology released by China Academy of Information and Communications Technology for the third consecutive year. It continues the content positioning of the previous two years, focusing on the overall tracking analysis and trend research of China’s fintech ecology development. Firstly, the white paper comprehensively summarizes the latest situation and development status of the fintech ecology at home and abroad in the past year from multiple dimensions such as policy, industry, technology, investment and financing. Secondly, taking the development and evolution of the underlying fintech as well as the breakthrough and innovation of fintech business applications as the two major analysis directions, the white paper introduces the fintech innovation trends brought about by technological evolutions in such areas as microservices, cloud native, 5G+ Internet of Things, data service, RPA, knowledge graph, deep learning, blockchain and privacy computing, and then, focusing on digital currency, zero-touch finance, open banking, insurtech, wealth management intelligence, intelligent risk control and other hot fintech business areas, makes a panoramic and in-depth analysis on the current development of fintech ecology. Finally, it makes an analysis and outlook on the development trend of fintech based on the above analysis.