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Author Topic: China National Bank Begins Pilot Test For Fintech Regulations in Beijing  (Read 872 times)

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China National Bank Begins Pilot Test For Fintech Regulations in Beijing

The Reserve Bank of China (PBOC) said it will support Beijing in testing and testing regulations on the financial technology sector (Fintech), an effort to create a comprehensive and prudent regulatory framework.

The PBOC statement said the pilot program is a survey of regulatory tools. In line with Chinese conditions And international standards To be a guideline for various licensed financial institutions In the use of information technology in accordance with the conditions of legal compliance And the benefits of consumers

The statement states that the PBOC will test flexible management to make financial rules professional, unified. And effective

The Xinhua News Agency reported that According to the Fintech development plan released by the PBOC in August, China aims to build a fintech development framework, supporting increased use And push the deep integration Including coordinating technological and financial developments within the year 2021

The plan focuses on fintech risk prevention, calls for cyber risk control. And protection of financial information



 

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