PBoC to develop new fintech regulation
Central bank will implement new roadmap in 2019, which will see improved regulatory mechanism
Fintech firms operating in China could soon be subject to new regulation, according to a statement from the country’s central bank.
On March 15, the People’s Bank of China announced it would “gradually set up a system of rules” for fintech. The central bank said it would look to “improve and innovate the regulatory mechanism and create a favourable policy environment for fintech development”.
The decision was taken at the PBoC’s Fintech Committee’s first meeting of 2019, led by deputy governor
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