The Fintech Committee of the People’s Bank of China Announces Key Tasks in 2021

At the end of January 2021, the People's Bank of China Fintech Committee meeting was held in Beijing. The meeting summarized the work in 2020 and announced key tasks in 2021. According to the press, the Fintech Committee will focus on the following tasks next year, including:

1) Introduce a new Fintech development plan, accelerate the financial digital transformation, and help build a modern financial system that adapts to the development of the digital economy

2) Provide better Fintech regulation, establish an ethical governance system in the financial sector, and strengthen the prudential supervision of Fintech innovation activities

3) Carry out pilot projects for comprehensive application of financial data

4) Implement a demonstration project of financial inclusion in the rural area, accelerate the construction of a barrier-free financial service system, strive to bridge the digital divide between different regions and groups, and solve the problem of unbalanced and insufficient Fintech development

5) Promote the construction of a national Fintech risk monitoring center, and build a joint risk prevention and control system.

6) Give full play to the internal and external forces of the system, and strengthen the basic theories, key areas, and key technology research of financial technology.

(Source: People's Bank of China)

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