Unveiling the Technological Dynamics of Banking Systems: A Network Analysis of Chinese and Global Banking Innovation

Utilizing nearly 80,000 patent records and over 540,000 patent references from within China’s banking industry, spanning from 2000 to July 2021, this paper employs network analysis and the main path method to examine the technological evolution of both Chinese and global banks. The contributions of this study encompass the comprehensive collection of 21 years of patent data, the introduction of a distinctive analytical framework for networks, and addressing a research gap in Chinese banking innovation. The research delves into the sources of innovation of China’s banking industry, maps its development, and identifies cutting-edge technologies of the global banking system, with a specific emphasis on the burgeoning role of blockchain. Additionally, this paper presents a valuable list of recent global patents identified by the main path algorithm, serving as a valuable reference for governments and regulatory bodies worldwide.