Beijing’s municipal government has announced the third round of projects for its fintech sandbox that was first launched at the start of 2020.
The third batch of five projects for the Beijing Fintech Innovation Regulatory Trial Applications (北京金融科技创新监管试点应用) was announced on 25 December, all of which involve the participation of Chinese banking sector financial institutions.
These projects include:
|1||“Guangxintong” blockchain industry financial services||Financial services||China Everbright Bank|
|2||“Jianjie Loan” product||Financial services||Agricultural Bank of China|
|3||Internet of Thing-based financing services for small and medium-sized enterprises||Financial services||China Minsheng Bank|
Beijing Yifeng Jinke (北京逸风金科)
|4||Blockchain-based supply chain based finance platform||Tech product||Beijing Ronghe Cloud Chain Keji Co., Ltd. (北京逸风金科)|
Ping An Bank
|5||API-based product||Tech product||The Beijing branch of Shanghai Pudong Development Bank|
The move comes after Beijing unveiled a second batch of 11 trial projects for its fintech sandbox in August.
PBOC announced the launch of China’s first fintech sandbox trial in Beijing in early January 2020, after first approving the scheme in December 2019.
At least 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.