Kou Gang. (COURTESY PHOTO)

By KOU Gang

Over the past decade since its inception, online English academic journal Financial Innovation has stood out among a wide selection of global journals. That's because throughout its evolution, the journal's original mission to "Ride the tide of interdisciplinary financial frontiers and build a platform for global scholarly exchange" remains unchanged.

Sponsored by the Southwestern University of Finance and Economics (SWUFE) in southwest China's Sichuan province, the journal has over time established an editorial team from 30 countries and regions, with submissions coming from 121 countries and regions worldwide. Today, readers span five continents, downloading content in excess of 1.2 million times annually.

Pioneering academic frontiers and embracing interdisciplinary perspectives

In the modern era, the integration of technologies such as AI, big data, and blockchain into the financial industry is widely known and recognized. However, a decade ago, financial technology was still in its infancy, with limited attention from various industries.

In 2013, SWUFE recognized the potential transformative impact of the widespread adoption of mobile Internet and digital technology in the global financial sector. In response, the university decided to launch a professional international journal focusing on the intersection of technology and finance. After two years of preparation, Financial Innovation was officially released in June 2015 and became one of the earliest global journals to focus on the convergence of technology and finance.

At the beginning of 2016, it was discovered that the emerging blockchain technology could change the financial industry's operational mode and address existing problems in traditional finance. In response, the journal's editorial office organized two special symposiums in Chengdu, Sichuan province, and Guangzhou, Guangdong province, inviting 14 authors from China, the U.S., Australia and other countries to produce eight articles. By the end of 2016, the first special academic issue on blockchain in the global business field was launched.

This special issue received significant attention, with more than 330,000 downloads and more than 3,260 citations, propelling the fledgling Financial Innovation to become a leading platform for scholars worldwide to explore cutting-edge topics such as blockchain and virtual currencies.

With submissions from top international institutions such as Harvard University, Massachusetts Institute of Technology, Columbia University, and the University of Cambridge, the international influence of Financial Innovation significantly increased, actively serving as a bridge connecting scholars worldwide. Increasingly diverse discussions at the annual International Workshop on Financial Innovation, led by people from different nationalities and backgrounds, also contributed to this.

In 2018, the journal was indexed in Scopus (a leading abstract and citation database) and included in the Social Sciences Citation Index (SSCI) in 2019. Since indexed by the SSCI, it has twice topped the global list in the "Social Sciences, Mathematical Methods" field, and its latest impact factor ranks among the top four percent in the "Business, Finance" field. Upholding forward-looking leadership has always been the journal's top priority. Therefore, each year, there is a focus on cutting-edge topics, inviting scholars from around the world to serve as guest editors to organize special issues, which have garnered enthusiastic responses and widespread attention.

Addressing real-world challenges and advancing human well-being

Academic journals are crucial for disseminating human knowledge, inheriting academic thought, and promoting an advanced culture. Therefore, Financial Innovation focused on three areas.

Firstly, the journal's development goals and endeavoring to achieve them. For the past three years, Financial Innovation has published over 30 papers covering key topics such as carbon emissions, energy trading, green finance, women's rights, and poverty eradication.

It also closely monitors the latest financial innovations along the Belt and Road Initiative (BRI) countries, receiving submissions from 76 countries that have signed cooperation agreements with China under the BRI and releasing a special issue in 2021. See page 3

To support researchers from developing countries and support sustainable development goals, Financial Innovation covers all publication fees for all articles.

Secondly, combining academic traditions, theoretical depth, and policy responses with problem-oriented research to provide profound academic solutions to real concerns. Over the past three years, the editorial office has invited editorial board members and authors based on academic achievements to participate in writing policy proposals on various topics, such as financial risk prevention and control, credit system construction, and carbon finance. These proposals have been selectively adopted by governments at various levels in China. Papers published in Financial Innovation with topics such as online lending willingness, blockchain and online fraud detection, and the regulation of cryptocurrency markets have been cited in public policy documents abroad.

Thirdly, the journal aims to make cutting-edge research on financial innovation more accessible to promote science popularization to disseminate scientific knowledge to young people. For children aged eight to 15, the journal developed a popular science education course on Fintech covering the developmental history of big data and its application, AI, blockchain, cloud computing, the Internet of Things, and the metaverse. This initiative aims to promote scientific thinking and increase young people's interest in learning.

Financial Innovation hopes to serve as a platform for global wisdom, producing high-quality academic outcomes. With continuous achievement as its driving force rather than temporary recognition, Financial Innovation will strive to serve its original purpose, adapt to current issues, and advance toward a brighter future.

The author is managing editor of Financial Innovation, and dean of the Big Data Research Institute at Southwestern University of Finance and Economics.

Journal Review

Financial Innovation not only strives to publish innovative and cutting-edge academic papers, but also focuses on their timely and effective dissemination. Its annual paper downloads are close to 1.2 million times, with authors from 86 countries and regions, and more than 95 percent of the papers have been cited. Many articles have received attention from international media. These achievements reflect the continuous growth and progress of the journal.

Beyond the glamorous quantitative data, Financial Innovation stands as a beacon of "technology + finance" convergence. In 2016, it launched the world's first special issue on blockchain and finance, pioneering new disciplinary paradigms. The journal has explored a new model of using think tank insights to serve the real economy, and produced hundreds of reports on financial support for dual carbon, financial service digital transformation, and financial security supervision, providing solid theoretical support for serving China's financial strength and the real economy.

Financial Innovation shows the flourishing outlook of cross-disciplinary frontier science and technology. I believe it can grasp the opportunities of generative AI, computational finance, and green finance, transforming a trickle of knowledge into a mighty force that promotes social progress.

—— Chai Hongfeng, a member of the Chinese Academy of Engineering and dean of the Institute of Financial Technology at Fudan University.