China's powerful central bank is interested in fintech
The People’s Bank of China has set up a fintech committee.
China’s central bank has launched a fintech committee aimed at bolstering its nascent fintech sector.
In a short online media release posted Monday, the powerful government body said that the new committee would study the likely effects of fintech on China’s financial sector, as well as how to spur fintech innovation. It would also promote exchanges abroad, as well as cooperation with foreign governments and companies.
“The People's Bank of China is willing to [work with stakeholders] to promote the healthy and orderly development of China's financial technology,” the release said.