The banking industry in China has evolved with remarkable scope and speed, most recently with the emergence of fintech and the digital RMB. How do these evolutions affect the financial system overall, and risk management practice in China? Professor Lin and our Antai finance professor Li Nan offer insights on the development model of the banking industry and financial system in China, discuss the opportunities and challenges in fintech and digital currencies, review China´s strategy for RMB internationalization and highlight risk management practice here. In addition, the two professors share thoughts on finance education in China.