Chinese Central Bank Drafting Guidance and Execution Cases for Fintech Development Plan

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The People’s Bank of China (PBOC) says it’s working on supplementary documentation for the three-year fintech development plan it released last year.

Li Wei (李伟), head of PBOC’s fin­tech de­part­ment, said it was currently researching and drafting implementation cases and guidance for the “Fin­tech De­vel­op­ment Plan (2019 – 2021)” (金融科技(Fin­Tech)发展规划(2019-2021年)) it released in August 2019.

According to Li this is for the purpose of “providing further support to the establishment of a development monitoring index system, optimising strategic arrangements, diagnosing industry trends, and breaking through development difficulties.”

Li made the remarks at the 2020 Lujiazui Forum that was held in Shanghai from 18 – 19 June.

In August 2019 PBOC released its Fin­tech De­vel­op­ment Plan (2019 – 2021) outlining “guid­ance ide­ol­ogy, ba­sic prin­ci­ples, de­vel­op­ment tar­gets, key mis­sions and guar­an­tee mech­a­nisms” for fin­tech work over the up­com­ing three years.

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