Express
PBoC Shanghai Head Office To Explore Regulatory Sandbox Mechanism
Summary: According to thepaper.cn, the Peoples Bank of China’s Head Office in Shanghai has lined up 40 policies in support of the establishment of the Fintech Technology Center in Shanghai. Among the policies lined up is the long-expected regulatory sandbox mechanism for fintech. The new policy encourages financial institutions to follow the current trend of developing innovations ...
According to thepaper.cn, the Peoples Bank of China’s Head Office in Shanghai has lined up 40 policies in support of the establishment of the Fintech Technology Center in Shanghai.
Among the policies lined up is the long-expected regulatory sandbox mechanism for fintech. The new policy encourages financial institutions to follow the current trend of developing innovations in the fields of financial assets and services. The policy advocates for the use of technologies such as blockchain as well as innovative ideologies and management concepts. The PBoC also issued a file supporting the construction of the financial technology center in Shanghai and promoting the development of financial technology. The file stated that it is necessary to promote independent innovation, research and development of security technologies such as crypto technology, quantum technology and biometric technology.
By Liang CHE
Tags: Fintech,PBoC,Sandbox
Link: PBoC Shanghai Head Office To Explore Regulatory Sandbox Mechanism [Copy]
