Abstract:Using the fixed effects model and the data of A-share listed companies in Shanghai and Shenzhen from 2011 to 2020 as the research sample, this paper studies the relationship between financial technology and corporate governance level and the mediating role of financial risk as well. The results indicate that fintech can significantly improve corporate governance, and corporate financial risk plays a partial mediating role between the two; the impact of fintech is the greatest on the governance level of enterprises with a high quality of accounting information disclosure, but it is not obvious on those with unqualified accounting information disclosure; fintech has a greater promoting effect on enterprises without internal control deficiencies than those with internal control deficiencies. Therefore, the government should provide sufficient policy support for fintech enterprises and improve the financial supervision system; enterprises should intensify the application of financial technology, improve the quality of accounting information disclosure, reduce internal control deficiencies, and reduce financial risks to improve corporate governance and promote high-quality development.