The Financial Technology Committee of the People’s Bank of China, or PBoC, held its first meeting of the year this week. During the meeting, the vice-governor of the central bank, Fan Yifei, urged that the country’s blockchain adoption strategy be accelerated.
According to a report released by Sina on May 13, the bank’s deputy governor met with PBoC officials and the heads of its affiliated financial companies. During the talks, Fan highlighted the importance of the blockchain and fintech industries, openly seeking to ensure that the country’s adoption plan is successfully implemented by the 2021 deadline.
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The digitization of the national economy
Fan stressed the need to “accelerate the digitization” of the Chinese economy.
The meeting included an overview of scientific studies that prove the introduction of new policies to further the development plan.
Officials said that the fintech development index system needs to be studied, the dynamics carefully monitored and a comprehensive assessment made to guide Bitcoin Era, Bitcoin Trader, Bitcoin Evolution, Bitcoin Profit, Bitcoin Revolution, Immediate Edge, Bitcoin Code, Bitcoin Circuit, Bitcoin Billionaire, The News Spy in accelerating the digital transformation.
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One of the conclusions of the meeting was:
“There is a need to strengthen the application of regulatory science and technology, to actively use big data, artificial intelligence, cloud computing, block chain and other technologies to strengthen digital monitoring capacity building.
China’s interest in blockchain technology continues to grow
Fintech’s Development Plan focuses on standardizing Fintech’s operations in the Chinese cross market, revealed in August 2019.
China’s BSN aims to reclaim financial data from technology giants
China’s interest in blockchain technology continues to grow. Cointelegraph reported on March 4 that China’s Hunan province established its first provincial blockchain area in the city of Loudi.
Another Chinese province, Hainan, joined the blockchain ecosystem with the announcement of a cross-border financial services platform on May 9.