Central bank further promotes pilot work of fintech innovation supervision

On April 26, 2020, the People’s Bank of China supported the expansion of fintech innovation supervision pilots in 6 cities (districts) including Shanghai.

On April 26, 2020, the People’s Bank of China supported the expansion of fintech innovation supervision pilots in 6 cities (districts) including Shanghai.

According to reports, this is to implement the spirit of the FinTech development plan (2019-2021) to implement the spirit of the Fourth Plenary Session of the 19th Central Committee of the Party and the Central Economic Work Conference.

This aims to explore the design of a prudent and flexible innovation mechanism, and strive to create a financial technology innovation supervision tool that meets China’s national conditions and is in line with international standards.

This marks the official start of the fintech innovation supervision work in Shanghai, and also adds another boost to accelerating the construction of the Shanghai fintech center.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/14/central-bank-further-promotes-pilot-work-of-fintech-innovation-supervision/.

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