Central Bank expands pilot program for fintech innovation in 6 Cities

The People’s Bank of China supports the expansion of pilot projects in six cities (districts) including Shanghai, Chongqing, Shenzhen, Hebei Xiong’an New District, Hangzhou, and Suzhou.

The People’s Bank of China supports the expansion of pilot projects in six cities (districts) including Shanghai, Chongqing, Shenzhen, Hebei Xiong’an New District, Hangzhou, and Suzhou.

These regions will guide licensed financial institutions and technology companies to apply for innovation tests, and explore the use of modern information technology to benefit the public and enterprises with financial empowerment, based on legal compliance and protection of consumer rights.

This is to alleviate the difficulties of financing for small and micro-size private enterprises, to help prevent and control epidemics and to resume work and production, striving to improve the level of financial services for the real economy.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/28/central-bank-expands-pilot-program-for-fintech-innovation-in-6-cities/.

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