Beijing’s Changping District Launches Fintech Standardisation Trial

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Changping district in the northwest of Beijing has just launched one of China’s first fintech standardisation trials.

The Changping District Small and Micro-enterprise Shuangchuang Fintech Public Service Standardisation Trial (昌平区小微企业双创科技金融公共服务标准化试点) kicked off at the start of July, becoming the first fintech initiative of its kind in China.

The move follows the approval of the trial by the Standardisation Administration of the People’s Republic of China in March of this year.

The initiative will see the establishment of a “fintech public services administrative standardisation framework”covering services equipment, services environments, services indices and labels, services personnel and services quality.

According to the schedule for the trial the period from July to February 2019 will serve as the research and development phase for the standardisation initiative, while March to April of next year will see Beijing’s municipal quality inspection authorities conduct assessments of the trial.

Local officials said that the scheme will involve extensive co-operation between the government and business sectors.

“During the next stage of work for standardisation trials, we will strengthen interactions with Sany, the Zhongguancun Life Science Park and the Beijing Future Science Park to achieve reciprocal supplementation of our respective advantages and integrated development,” said Ren Xuming (任旭明), vice-party secretary of the Changping Sector of Zhongguancun Science Park, to Beijing Daily.

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