Beijing has unveiled its first round of capital market fintech innovation trial projects, which include the application of the digital renminbi to the securities sector.
On 19 November the Beijing branch of the China Securities Regulatory Commission (CSRC) and Beijing’s municipal financial regulation unveiled a list of 16 proposed capital market fintech innovation trial projects for the solicitation of opinions from the public.
The release of the draft list follows the submission of 51 projects by 26 organisations and companies.
The Beijing municipal government said that backers of projects on the list includes 4 core market institutions, 4 securities firms, 5 fund management firms, 1 credit ratings organisation and 1 regional equity exchange market operator, as well as securities futures companies, banks and tech firms.
Technologies involved include artificial intelligence, the blockchain, cloud computing, multi-party secure computing and federated learning.
The list also includes projects for the application of the digital renminbi to the securities sector, which would mark the debut use of the central bank digital currency in this area.