Small businesses and individuals in China have long found it hard to get loans, as the country’s government-controlled banks prefer to lend to state-owned enterprises. But financial technology, which includes internet banking and has made banking services accessible as long as one has a mobile phone, has become a game changer, said panelists at a discussion at the Boao Forum for Asia. Inclusive finance refers to bringing banking services to the poor. High operation costs and the high risk of defaults in microloans has traditionally made it hard for banks to offer such services. Fintech can come in to help solve this loan crunch issue for the real economy. The good cooperation between Fintech and SMEs in alternative financing has implied an optimistic foreseeing of a potential in the Asian market.