China’s central bank publishes three-year fintech plan
The People’s Bank of China (PBOC) has released its Fintech Development Plan for 2022-2025, which seeks to guide the development of fintech and the digital transformation of finance. It calls for “strengthening the application of financial data as a factor of production, making the deepening financial supply-side structural reforms the goal, and strengthening fintech macro-prudential regulation.” Among the wide-ranging missions included in the plan are the development of data capability, the establishment of green data centres, and investment in fintech talent and innovation, as well as the comprehensive application of regtech and the development of digital regulatory capability.
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