China’s Securities Authority Establishes Big-data Regtech Department

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The China Securities Regulatory Commission (CSRC) has just announced the establishment of a new internal regtech office.

CSRC’s “Tech Department” (科技局) will have the goal of creating a big data supervisory and regulatory system for Chinese capital markets that will incorporate various existing data sources.

50 year-old Tao Qian (姚前), formerly the gen­eral man­ager of China Se­cu­ri­ties De­pos­i­tory and Clear­ing Cor­po­ra­tion Lim­ited (CSDC) and a for­mer deputy-gov­er­nor of the Chi­nese cen­tral bank, has been appointed head of CSRC’s Tech Department.

Tao first joined the Chi­nese cen­tral bank at the end of 2010, and has served as head of the Cen­tral Bank Dig­i­tal Cur­rency Re­search In­sti­tute. 

Reports first emerged in December 2020 that CSRC was planning to launch a new regtech department to be headed by Tao.

CSRC is­sued the “Regtech Gen­eral Es­tab­lish­ment Plan” (监管科技总体建设方案) at the end of Au­gust 2018, which out­lined five fun­da­men­tal data analy­sis ca­pa­bil­i­ties, and 32 reg­u­la­tory analy­sis sce­nar­ios across seven ma­jor cat­e­gories. 

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