The southern Chinese city of Shenzhen has announced the second batch of projects for its fintech sandbox.
On 12 January the Shenzhen Fintech Innovation Regulatory Trials Work Team (深圳金融科技创新监管试点工作组) publicly announced a second set of four “innovative applications.”
The projects include:
|1||Ping An Good Chain Supply Chain Financial Services||Financial services||Ping An Bank|
|2||E-commerce export cross-border renminbi collection services based on artificial intelligence||Financial services||The Shenzhen branch of the Industrial and Commercial Bank of China (ICBC)|
|3||Micro, small and medium-sized enterprise supply chain financial services based on artificial intelligence||Financial services||Bank of Lanzhou|
|4||Smart risk control product based on big data||Tech product||WeBank, Agricultural Bank of China (ABC)|
The announcement of the four new projects comes after the Shenzhen authorities announced the first batch of projects for its fintech sandbox trials in August 2020.
The Chinese central bank first flagged the launch of fintech sandbox regulatory trials at the end of 2019, beginning with Beijing.
The number of Chinese cities cleared for fintech sandbox trials has since risen to eight in total, including Beijing, Shanghai, Chongqing, Shenzhen, Xiong’an New District, Hangzhou, Suzhou, Guangzhou and Chengdu.