Beijing Supervision Sandbox Pilot’s first batch of six applications completed registration involving UnionPay, etc.

Beijing Supervision Sandbox Pilot’s first batch of six applications completed registration involving UnionPay, etc.
It is estimated that the business management department released on March 16th, and after the public review and approval, the first batch of innovative applications of the Beijing Financial Technology Innovation Supervision Pilot has been registered and will officially provide services to users.The six applications are “Internet of Things-based traceability certification management and supply chain finance” declared by Industrial and Commercial Bank of China; “Weijie Loan Products” declared by Agricultural Bank of China Co., Ltd .;; China UnionPay Co., Ltd., Beijing Duxiaoman Payment Technology Co., Ltd., Citibank (Shanghai Huacheng Southwest International Travel Agency Co., Ltd.) participated in the “CITIC Bank Smart Command Products”; CITIC Baixin Bank Co., Ltd. declared “AIBank Inside Products”, “Quick Review and Quick Loan Products” declared by Bank of Ningbo Co., Ltd .; and “Mobile Phone POS Innovative Application” with the participation of Xiaomi Digital Technology Co., Ltd. and JD Digital Technology Holdings Co., Ltd. as declared by China UnionPay Co., Ltd.At present, more than 90% of financial institutions in China have intervened and used financial technology to promote financial services.”Finance will become more and more contextualized, technological, digital, and inclusive. In other words, it will be closer to the people.How to make people more protected is the original intention of the supervision sandbox.Huo Xuewen, Secretary of the Party Group and Director of the Beijing Local Financial Supervision Administration, said.In July 2019, Li Wei, Director General of the Department of Science and Technology, was gradually updated in a public speech and transformed into other ministries and commissions to carry out fintech application pilots in 10 provinces and cities, such as Beijing, Shanghai, and Guangzhou;FinTech) Development Plan (2019-2021) “is the first” three-year development plan “of financial technology, which clearly increases the ability to enhance the application of technology in the financial industry and enhance the professionalism, uniformity and permeability of financial supervision, etc .; December,, Launched the pilot work of fintech innovation supervision, Beijing became the first city in China to initiate the fintech innovation supervision pilot, and also put the work of establishing a Chinese version of “supervision sandbox” on the agenda.Sauna, Ye Wang Cheng Weimiao editor Wang Yu proofreading Liu Jun