Hangzhou ranks 6th among the world's top fintech hubs, according to the Global Fintech Hub Report recently released on the ongoing Hangzhou International Human Resources Exchanges and Cooperation Conference, which started on Nov 9 and will run until Nov 24. [Photo/hangzhou.com.cn]

Hangzhou, Zhejiang province－home of e-commerce juggernaut Alibaba and its financial arm Ant Financial－ranked 6th among the world's top fintech hubs, according to the Global Fintech Hub Report recently released at the ongoing Hangzhou International Human Resources Exchanges and Cooperation Conference, which started on Nov 9 and will run until Nov 24.

Hangzhou came in 3rd among surveyed Chinese cities.

The report was released by the Academy of Internet Finance at Zhejiang University and the Zhejiang Association of Internet Finance.

Ben Shenglin, dean of the Academy of Internet Finance at Zhejiang University, said consumer demand, technology advances, government policies and a strong regulatory environment are the key drivers for the development of the country's fintech industry.

Beijing was yet again crowned the winner among the 70 surveyed cities from around the world, with San Francisco, New York, Shanghai and Shenzhen coming in second, third, fourth and fifth place, respectively. 

According to the report, Hangzhou leads the world in terms of fintech consumer experience, with about 93.5 percent of the city's population using fintech products and services. This is the third time that Hangzhou has ranked the highest in fintech consumer experience. 

As the birthplace of China's internet finance industry, Hangzhou has 57 listed tech companies, including Alibaba Group, Hikvision and Dahua Technology Co, which provided strong technical support for the city's fintech industry.

Hangzhou has been emphasizing fintech applications and consumer experience, with the aim of building itself into a global demonstration city for mobile payment.

Currently, more than 98 percent of taxi services, 95 percent of convenience stores and 50 percent of restaurants in the city are covered by mobile payment services.

Ye Jinwu, founder and chairman of Hangzhou-based fintech company Ying Ying Group, said that Hangzhou has demonstrated unparalleled vibrancy in terms of business activity and entrepreneurship, and the sufficient talent supply in the city is an important reason for the large number of fintech startups in Hangzhou.

Since Hangzhou launched its ambitious plan to build itself into an international fintech hub at the first Qiantang River Forum in 2017, the city has been striving to attract technical talents and professionals from around the world.

This year, Hangzhou launched a talent program aiming to introduce 100 professionals and 3,000 senior financial managers by 2022. To help achieve this goal, the city will provide cash bonuses for the top skilled workers.