Gains from new financial standards plan foreseen
2 years, 10 months ago

Gains from new financial standards plan foreseen

China Daily  

A new plan to advance standardization in the financial sector during the 14th Five-Year Plan period will facilitate the high-quality development of China's financial services industry. A new plan to advance standardization in the financial sector during the 14th Five-Year Plan period will facilitate the high-quality development of China's financial services industry and help improve the development efficiency of the real economy, said experts. The plan was jointly released by the People's Bank of China, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission on Tuesday night. Buoyed by the contents of the new plan, A-share companies with businesses that may benefit from the central bank digital currency soared by an average 8.67 percent on Wednesday, while the benchmark Shanghai Composite Index climbed 0.79 percent to close at 3479.95 points.

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China to steadily push forward financial opening-up: central bank
Trending News
1 month, 2 weeks ago

China to steadily push forward financial opening-up: central bank

China Daily  

Xinhua | Updated: 2024-11-07 17:00 Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China. BEIJING - China will steadily promote institutional opening-up of the financial service sector and the financial market, and expand connectivity between domestic and overseas financial markets, according to the central bank. China will continue to implement a supportive monetary policy, …

Digital revamp boosting financial development
5 months, 2 weeks ago

Digital revamp boosting financial development

China Daily  

A foreign student pays bills using Alipay at a dessert shop in Hangzhou, Zhejiang province, in April. Liu Weiliang, deputy director of the Beijing Municipal Bureau of Economy and Information Technology, said: "Digital technology is reshaping the financial sector's service patterns, operational models, and industry paradigms. "While many institutions still rely on branch networks and professional employees for customer acquisition …

Fintech, large language models match made in heaven
5 months, 2 weeks ago

Fintech, large language models match made in heaven

China Daily  

A judge comments on projects during the HICOOL Global Entrepreneur Competition in Beijing in June. The rapid emergence of new technologies, particularly AI represented by large language models, is driving transformative changes in China's financial sector. Yang Xiaojing, an AI standards expert with the Internet Society of China, said China's fintech sector is among the global leaders, especially in the …

Fintech, large language models match made in heaven
5 months, 2 weeks ago

Fintech, large language models match made in heaven

China Daily  

A judge comments on projects during the HICOOL Global Entrepreneur Competition in Beijing in June. The rapid emergence of new technologies, particularly AI represented by large language models, is driving transformative changes in China's financial sector. Yang Xiaojing, an AI standards expert with the Internet Society of China, said China's fintech sector is among the global leaders, especially in the …

Fast forward on the path to digital RMB in globalized and networked era
6 months, 3 weeks ago

Fast forward on the path to digital RMB in globalized and networked era

China Daily  

A staff member demonstrates the payment with China's digital yuan, or the e-CNY, during the first Global Digital Trade Expo in Hangzhou, East China's Zhejiang province, Dec 12, 2022. The issuance and circulation of digital currencies, especially sovereign digital currencies authorized by central banks, will profoundly change the existing international monetary, clearing and settlement, and financial systems. As a digital …

Action plan to improve technology standards
6 months, 3 weeks ago

Action plan to improve technology standards

China Daily  

China has released a three-year action plan to strengthen standards in various cutting-edge technologies, such as artificial intelligence chips, generative AI, quantum information, and brain-computer interfaces, aiming to better drive technological and economic development and enhance international influence. According to a news release from the office of the commission, the action plan has emphasized that standards for informatization — or …

Regulation key to boosting digital finance
1 year, 8 months ago

Regulation key to boosting digital finance

China Daily  

A staff member demonstrates the payment with China's digital yuan, or the e-CNY, during the first Global Digital Trade Expo in Hangzhou, East China's Zhejiang province, Dec 12, 2022. Officials and experts attending the Boao Forum for Asia Annual Conference 2023 called for enhanced financial regulation to fend off potential risks and boost innovation in the finance sector in the …

每日一词∣金融标准化 financial standardization
2 years, 10 months ago

每日一词∣金融标准化 financial standardization

China Daily  

近日，中国人民银行会同市场监管总局、银保监会、证监会联合印发《金融标准化“十四五”发展规划》。《规划》提出，到2025年，与现代金融体系相适应的标准体系基本建成。 China's financial regulators have issued a plan to advance standardization of the financial sector over the 14th Five-Year Plan period, with the goal of basically establishing a financial standard system that fits modern finance in 2025. The document was jointly published by the People's Bank of China, the State Administration for Market Regulation, the China Banking and Insurance Regulatory …

Plan focuses on digital economy development during 14th Five-Year Plan period
2 years, 11 months ago

Plan focuses on digital economy development during 14th Five-Year Plan period

China Daily  

A time tunnel effect is displayed at Guizhou province's big data demonstration center in Guiyang. China will further promote the development of a digital economy during the 14th Five-Year Plan period, according to a circular issued by the General Office of the State Council on Jan 12, 2022. According to the plan, efforts will be made to accelerate the construction …

$9.5 billion spent using Chinese central bank's digital currency
3 years, 1 month ago

$9.5 billion spent using Chinese central bank's digital currency

The Hindu  

Some 140 million people had opened "wallets" for China's new digital yuan as of October and used it for transactions totalling around 62 billion yuan, a senior Chinese central bank official said on Wednesday. However, Mu Changchun, the director-general of the digital currency institute of the People's Bank of China, told HongKong's "Fintech Week" conference there was no official launch …

Controversies on Trials of Digital RMB by China’s Central Bank: Policy Options (No.240, 2021)
3 years, 1 month ago

Controversies on Trials of Digital RMB by China’s Central Bank: Policy Options (No.240, 2021)

China Daily  

Controversies on Trials of Digital RMB by China’s Central Bank: Policy Options 2021-10-29 By Chen Daofu & Zhang Jiaming, Research Institute of Finance, DRC Research Report, No.240, 2021 2021-9-2 Abstract: The pilot research and development of digital currency made by China’s central bank, the People’s Bank of China，is among the top list of the world, the performance of which has …

China's financial liberalization can unlock new opportunities
3 years, 11 months ago

China's financial liberalization can unlock new opportunities

China Daily  

Mr.ROSARIO STRANO, head of Intesa Sanpaolo’s China Strategic Project and former COO. In this episode, China Daily website talks with Intesa Sanpaolo, the largest Italian bank, which is also an opening-up beneficiary and contributor of Chinese financial market. We are in constant touch with the central authorities, and I believe Intesa Sanpaolo's projects in China represent a good example of …

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