“China aims to make its fintech sector globally competitive and use the industry as a “new engine” for country’s high-quality financial development, the People’s Bank of China (PBOC) said in a statement on its website. Under a development plan for 2019-2021, China will improve the top-down design of the fintech industry, and strengthen risk controls, including an early warning regime on cross-market and cross-industry financial risks, the central bank said.”
Source: uk.Reuters.com