Chinese Central Bank Outlines Five Key Work Points at 2020 Tech Meeting


The People’s Bank of China (PBOC) convened its tech work on 18 May in Beijing.

PBOC deputy-governor Fan Yifei (范一飞) presided over the meeting which sought to “summarise tech work since 2019 and deeply analyse current circumstances and challenges, as well as make arrangements for key work in 2020.”

The five key work points outlined by the meeting included:

  1. Strengthening tech support, deeply undertaking efforts to build a “digital central bank,” raising the level of financial services and financial regulatory capability.
  2. Strengthening overall guidance of financial sector network security and digitisation; driving the implementation of financial sector password applications and innovative development; establishing firm barriers for financial Internet security.
  3. Driving the high-quality development of fintech, raising the ability of finance to service the real economy.
  4. Driving legal entity identifier (LEI) applications, optimising standardisation supply, regulatory the regulatory level of financial standardisation;
  5. Highlighting party building and guidance.

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