Chinese financial authorities have just announced a second batch of 11 projects that have obtained approval for participation in Beijing’s fintech sandbox trials.
The Beijing financial regulator announced 6 August that 11 “innovation applications” have all passed reviews for participation in the Beijing Fintech Innovation Regulatory Trial (北京金融科技创新监管试点).
These 11 projects have all completed filing with the Beijing authorities and are set to officially provide financial services.
The 11 projects include:
- ICBC’s “Mobile Financial Services Project Based on Smart Robots.”
- Bank of China’s “Industry Financial Services Based on the Blockchain.”
- China Construction Bank’s “5G+ Smart Banking.”
- Bank of Beijing’s “Financial Inclusion Micro-and-Small Enterprise Loan Services.”
- China Life Insurance’s “Mobile Compensation Product.”
- Tencent Cloud and Shanghai Pudong Development Bank’s “Multi-party Data Learning Online Financial Project.”
- China Telecom’s “Tianyi Smart Risk Control Product.”
- Guowang Credit Co., Ltd and Postal Savings Bank of China’s “Guowang Smart Graph Risk Control Product.”
- The China Financial Certification Authority and China Minsheng Bank’s “Mobile Finance Cloud Signature Shield.”
- The State Computer Network and Information Security Regulatory Centre’s “Blockchain-based Enterprise Electronic Identification System.”
- Lakala Payment’s “Smart Cloud Small Store Services.”
PBOC announced the launch of China’s first fintech sandbox trial in Beijing in early January, after approving the scheme in December 2019.
A total of nine Chinese cities have obtained approval to conduct fintech sandbox trials, including Beijing, Shanghai, Chongqing, Shenzhen, Xiong’an New District, Hangzhou, Suzhou, Guangzhou and Chengdu.