This　study　explores　the　nonlinear　effects　of　development　of　fintech　on　the　information　efficiency　of　capital　market　by　developing　a　panel　threshold　regression　(PTR)　model,　using　data　from　2006　to　2019　of　31　provinces　(or　municipalities　directly　under　the　Central　Government)　in　China.　In　the　PTR　model,　stock　price　synchronicity　is　the　explained　variable,　whereas　institutional　environment　and　governance　environment　are　the　threshold　variables;　fintech　is　the　explanatory　variable.　The　results　are　as　follows:　first,　the　development　of　regional　fintech　has　a　positive　effect　on　the　information　efficiency　of　capital　market;　second,　there　exists　threshold　effect　in　the　relationship　between　fintech　and　the　information　efficiency　of　capital　market.　The　positive　effect　of　fintech　on　the　information　efficiency　of　capital　market　can　be　effectively　played　only　when　the　regional　institutional　environment　is　relatively　good　and　the　corporate　governance　environment　is　relatively　perfect.　This　paper　provides　novel　empirical　evidence　for　the　path　and　mechanism　of　fintech　development　affecting　the　information　efficiency　of　capital　market.　The　threshold　regression　results　can　better　reflect　the　real　situation　and　better　explain　the　relationship　between　fintech　and　information　efficiency　of　capital　market.　　©　2022　ACM.