Changes in local market dynamics

Money20/20 China postponed

Gwen Kaufmann - Monday, November 25, 2019    

Money20/20 China postponed
Photo: Unsplash

Money20/20 China, originally scheduled to take place from December 4 to 6, 2019, has been deferred and will not take place this year. The decision to defer Money20/20 China has been taken in light of a short-term hiatus for international companies in the Chinese Fintech market, arising from a combination of macro-economic trends and changes in local market dynamics including significant changes in the peer-to-peer lending sector (an important revenue source in 2018). Organiser Ascential stated that the previous edition of Money20/20 China in 2018 had generated £2.5m of revenue and in 2019 the one-off costs relating to Money20/20 China were not expected to impact adjusted EBITDA by more than £1.5m. The management intends to return the event to Hangzhou in China in due course when market conditions are conducive to a high-quality event that befits its importance.

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Markets | Money20/20 | China | Asia