The People’s Bank of China (PBOC) has formed a new committee to explore the impact of fintech on the financial services sector.
On its website, PBOC said that fintech has “injected new vitality”, but “brought new challenges” in the banking industry.
Go deeper with GlobalData
The new committee will explore the effect of fintech on a range of areas including monetary policy, financial market, payment as well as settlement.
The committee will also look to check the feasibility of advanced technologies such as big data, artificial intelligence and cloud computing to enhance supervision.
In order to support the development of fintech in China, the central bank seeks to cooperate with other domestic and global entities including businesses, academia and researchers.
The latest move comes shortly after PBOC signed a co-operation agreement with the UK’s Financial Conduct Authority (FCA) to promote fintech innovation in the two markets.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
