The central bank issued the "FinTech Development Plan": Strengthening the development and application of distributed databases

21st Century Business Herald 21 Finance APP Xin Jizhao Shenzhen Report

On August 23, the reporters of the 21st Century Business Herald were exclusively informed of the full text of the People's Bank of China's publication of the FinTech Development Plan (2019-2021) (Yinfa [2019] No. 209). The central bank pointed out that although China has a certain foundation in financial technology, it must be soberly aware that the rapid development of financial technology has led to a gradual blurring of financial business boundaries, and financial risk transmission has broken through time and space restrictions, giving monetary policy and financial market financial stability. Financial supervision and other aspects bring new challenges.

The problem of insufficient imbalance in the development of China's financial science and technology still exists. There is a lack of top-level design and overall planning. The various market players are relatively unbalanced in terms of scientific and technological capabilities, innovation power, talent team, and institutional mechanisms. The industrial base is relatively weak and has not yet formed. The ecological system with international influence lacks the advanced research and development layout of the system; the infrastructure, policies and regulations, and standard systems that are suitable for the development of financial technology need to be improved.

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The FinTech Development Plan (2019-2021) includes a total of 27 major tasks. The following is the main content of the central bank's FinTech Development Plan (2019-2021).

Chapter 1 Development Situation

The first section is important

Financial technology is a technology-driven financial innovation (this definition was proposed by the Financial Stability Board (FSB) in 2016 and has now become a global consensus), aiming to transform or innovate financial products, business models, business processes, etc. with modern scientific and technological achievements. Promote financial development to improve quality and efficiency. In the context of a new round of technological revolution and industrial transformation, financial technology has flourished, and information technology and financial services such as artificial intelligence, big data, cloud computing, and Internet of Things have been deeply integrated to provide a continuous stream of innovation and vitality for financial development. Adhering to innovation-driven development and accelerating the strategic deployment and security application of financial technology has become an intrinsic need and an important choice for deepening the structural reform of the financial supply side, enhancing the financial service entity's economic capabilities, and laying a good foundation for preventing and defusing financial risks.

Financial technology has become a new engine to promote financial transformation and upgrading. The core of financial technology is to use modern scientific and technological achievements to optimize or innovate financial products, business models and business processes. With the help of machine learning, data mining, smart contracts and other technologies, financial technology can simplify the transaction between supply and demand, reduce the marginal cost of financing, open up new ways to reach customers, and promote financial institutions in profit model, business model, assets and liabilities, credit relationship, Channel optimization and other aspects continue to optimize, continuously enhance core competitiveness, and continue to empower the financial industry transformation and upgrading.

Financial technology has become a new way for financial services to the real economy. The development of financial technology can quickly capture changes in market demand in the digital economy era, effectively increase and improve the supply of financial products, and help supply-side structural reforms. Using advanced scientific and technological means to model and analyze the business operation data, real-time monitoring of capital flow, information flow and logistics, provide scientific basis for rational allocation of resources, and guide funds from high-pollution, high-energy-capacity over-capacity industries to high-tech, high-addition The emerging industries of value promote the healthy and sustainable development of the real economy.

Financial technology has become a new opportunity to promote the development of inclusive finance. Through financial technology, we will continue to narrow the digital divide and solve the problems of high cost, insufficient income, and difficulty in balancing efficiency and safety. This will help financial institutions reduce service thresholds and costs, and integrate financial services into people's livelihood applications. The use of financial technology means to achieve precise drip irrigation support, alleviate the difficulties of financing small and micro enterprises, and the need to increase financial support for agriculture, and provide financial support for winning the battle against precision poverty, implementing rural revitalization strategies and regional coordinated development strategies.

Financial technology has become a new weapon to prevent financial risks. The use of big data, artificial intelligence and other technologies to establish a financial risk control model, effectively identify high-risk transactions, intelligently aware of abnormal transactions, early detection of risks, early warning, early disposal, and enhance financial risk prevention capabilities. The use of digital regulatory agreements, intelligent risk control platforms and other regulatory technologies to promote the transformation of financial supervision mode from ex post regulation to ex ante and in-process supervision, effectively solve information asymmetry, eliminate information barriers, ease regulatory time lags, and improve financial supervision efficiency.

Chapter II Development Goals

By 2021, we will establish and improve the "four beams and eight pillars" of China's financial science and technology development, further enhance the scientific and technological application capabilities of the financial industry, realize the deep integration and coordinated development of finance and science, and significantly enhance the people's digital, networked, and intelligent financial products and services. The satisfaction of China's financial technology development is at the international leading level.

— The application of financial technology is advanced and controllable. The level of integration of financial and industry data standards has been greatly enhanced, and the vitality of financial innovation has been continuously stimulated. The safe, controllable, advanced and efficient financial technology application system has been fully established.

— Financial services capabilities have steadily increased. The coverage of financial services has gradually expanded, the supply of high-quality financial products has been continuously enriched, the quality of financial services has improved remarkably, and new levels of real economic development such as financial services private enterprises and small and micro enterprises have been achieved.

— The level of financial risk control has improved significantly. The financial security management system has basically taken shape, the financial risk prevention and control capability has been greatly improved, the long-term mechanism for financial risk prevention has been gradually improved, and the level of financial risk management and control has reached a new level.

— The effectiveness of financial supervision continues to improve. The basic rules and regulations of financial science and technology supervision have been gradually improved, and the whole life cycle management mechanism of financial science and technology innovation products has basically taken shape, and the efficiency of financial supervision and the compliance level of financial institutions have continued to increase.

— Financial technology support continues to improve. The financial technology and standards system has become increasingly sound, consumer financial literacy has improved significantly, and the infrastructure that is compatible with the development of financial technology has gradually improved.

— The prosperity of the financial technology industry. Cultivate a group of financial technology market entities with international reputation and influence. Social organizations and professional service organizations have continuously strengthened their support for the development of financial science and technology. The open, cooperative and win-win financial and industrial industry ecosystem has basically taken shape.

Chapter III Key Tasks

Section 1 Strengthening the Strategic Deployment of Financial Technology

Strengthen the top-level design from a long-term perspective, grasp the development trend of financial science and technology, strengthen the strategic deployment of overall planning, system and mechanism, and build a talent team to provide guarantee for the development of financial technology.

(1) Strengthen overall planning.

Deeply understand the urgency, necessity and importance of developing financial technology, thoroughly implement the new development concept, clarify the development direction, change the development mode, formulate the development strategy, and combine the market demand and the endowment to seek the difference and characteristic development. From a strategic overall perspective, strengthen top-level design and overall planning, accelerate the pace of reform in operational models, product services, risk management and control, formulate timetables and roadmaps for the application of financial technology, increase investment in science and technology, and reshape business The value chain complements the traditional financial shortcomings, consolidates and expands competitive advantages, and creates new growth points. Financial institutions must disclose true, accurate and complete disclosures for innovative research and applications in annual reports and other official channels.

(2) Optimize institutional mechanisms.

Efforts will be made to solve the problems of using the financial technology to realize the system and mechanism in the process of transformation and upgrading, actively and steadily promote the adjustment and optimization of the governance structure, management mode and organizational mode, rationalize the relationship of duties, break the barriers between departments, break through the barriers of the interests of the departments, and improve the cross-strip line. The ability to coordinate and collaborate across departments, accelerate the formulation of organizational restructuring plans, and explore innovative models such as the establishment of financial technology subsidiaries in accordance with laws and regulations, give full play to the leading role of science and technology, and build an institutional system with complete systems, scientific standards, and effective operations. Strengthen management system innovation, promote internal incubation and external cooperation, enhance the flexibility and adaptability of organization and management, enhance the response speed and ability to market demand, and explore the optimization of light weight and agility that are conducive to the application of scientific and technological achievements and product and service innovation. The organizational structure will strengthen the docking of finance and technology industries, pool internal and external superior resources, enhance the ability of new technology to control itself, and better promote the transformation of financial technology into real productivity.

(3) Strengthening the construction of the talent team.

Focusing on the strategic planning and actual needs of financial technology development, we will study and formulate talent demand catalogues, team building plans, and talent incentive policies, and reasonably increase the proportion of financial science and technology personnel. Financial institutions must disclose the number and proportion of scientific and technical personnel in the annual report and other official channels in a true, accurate and complete manner. Establish and improve the compensation and assessment system that is compatible with the financial market, is conducive to attracting and retaining talents, motivating and developing talents, and inspire talents to innovate and create vitality. We will broaden the channels for talent introduction, attract mature talents through social recruitment, build backup forces through campus recruitment, and introduce cutting-edge wisdom in the form of consultants and special appointments. Formulate financial science and technology personnel training programs, deepen school-enterprise cooperation, focus on the scientific and technological innovation awareness and innovation ability of employees, create professionals who understand finance and technology, optimize the structure of financial industry personnel, and provide intellectual support for the development of financial technology.

The second section strengthens the rational application of financial technology

Focus on breakthroughs to drive the overall situation, standardize the selection, capacity building, application scenarios and safety control of key common technologies, explore the safe application of emerging technologies in the financial field, accelerate the reversal of key core technologies and products subject to people, and comprehensively improve the application level of financial technology. Make financial technology a "new engine" for high-quality financial development.

(4) Scientific planning and application of big data.

Strengthen the strategic planning and overall deployment of big data, accelerate the improvement of data governance mechanisms, promote national standards for data management capabilities, clarify internal data management responsibilities, break through departmental barriers, promote cross-departmental information sharing, form a unified data dictionary, and re-create data usage processes. Establish and improve enterprise-level big data platform, further enhance data insight and scenario-based data mining capabilities, and fully release big data as the core value of basic strategic resources. Open up the financial industry data fusion application channel, break the data barriers of different financial formats, resolve information islands, formulate data fusion application standards, play the role of financial big data agglomeration and value-added, and promote the formation of a new pattern of financial industry data fusion application, boosting the country The construction of an integrated big data center system. Under the premise of effectively protecting personal privacy, trade secrets and sensitive data, strengthen the integration of financial and new law, social security, industry and commerce, taxation, customs, power, telecommunications and other industries, accelerate the integration of service systems, and establish a sound cross-regional The data fusion application mechanism of cross-department and cross-level enables the integration and deep utilization of data resources.

(5) Reasonable layout of cloud computing.

Plan the application of cloud computing in the financial field, guide financial institutions to explore cloud computing solutions that are compatible with Internet transaction characteristics and match financial information security requirements, build a secure and controllable financial industry cloud service platform, and build centralized and distributed Coordinate the development of the information infrastructure, and strive to achieve the international advanced level of cloud computing services. Accelerate the implementation of cloud computing financial application specifications, give full play to the advantages of cloud computing in terms of resource integration and elastic scalability, and explore the use of distributed computing, distributed storage and other technologies to automatically allocate resources according to business needs, quickly deploy applications, and better Adapt to the characteristics of new financial services with instantaneous high, concurrent, multi-frequency and large traffic in Internet channel transactions, and improve the quality of financial services. Strengthen the research and application of cloud computing security technology, strengthen the risk management and control of service outsourcing, prevent financial risks in the cloud computing environment, and ensure the security and control of cloud services in the financial sector.

(6) Apply artificial intelligence steadily.

In-depth understanding of the characteristics of the development of a new generation of artificial intelligence, overall optimization of data resources, algorithm models, computing support and other artificial intelligence core assets, and steadily promote the deep integration of artificial intelligence technology and financial business. Innovate intelligent financial products and services according to the business characteristics of different scenarios, explore the application paths and methods of relatively mature artificial intelligence technologies in the fields of asset management, credit financing, customer service, precision marketing, identification, risk prevention and control, and build a full process. The intelligent financial service model promotes the development of financial services to be active, personalized, and intelligent, and helps build a smart economy that is driven by data, human-machine collaboration, cross-border integration, and sharing. Strengthen the risk assessment and prevention of artificial intelligence application in the financial field, improve the supporting measures such as policy evaluation, risk prevention and control, and emergency response of artificial intelligence financial applications, improve the safety monitoring and early warning mechanism of artificial intelligence financial applications, and study and formulate regulatory rules for artificial intelligence financial applications. Strengthen the security certification of intelligent financial instruments to ensure that artificial intelligence financial applications are regulated within a safe and controllable range. Focusing on the complexity, risk and uncertainty of using financial intelligence to carry out financial business, the research proposes basic and forward-looking management requirements, integrates multi-disciplinary forces to strengthen research on legal, ethical and social issues related to artificial intelligence financial applications, and promotes the establishment of Artificial intelligence financial application laws and regulations, ethical norms and policy systems.

(7) Strengthen the development and application of distributed databases.

Do a good job in the long-term planning of distributed database financial applications, increase investment in R&D and application, and properly solve problems in distributed database products in terms of data consistency, actual scenario verification, migration assurance specifications, and new operation and maintenance systems. Exploring a new mode of joint production and production, leveraging the technology and innovation capabilities of technology companies to jointly develop new products, develop new industries, and condense new kinetic energy. Plan and implement the distributed database products first and foremost in a step-by-step manner to form typical cases and solutions that can be used for reference and can be promoted, and explore the path for the comprehensive application of distributed databases in the financial field. Establish and improve the talent cultivation mechanism of industry-university integration and school-enterprise synergy, continuously strengthen the research of the underlying and cutting-edge technologies in the field of distributed databases, formulate standard specifications for distributed database financial applications, and clarify management requirements from aspects such as technical architecture, security protection, and disaster recovery. Ensure that distributed databases are used securely in the financial sector.

(8) Improve the network identity authentication system.

Build a trusted environment for mobile terminals in the era of the Internet, make full use of information technology such as trusted computing, secure multi-party computing, cryptographic algorithms, and biometrics, and establish a sound diversified identity authentication system that combines security and convenience, and continuously enrich financial transaction verification methods. Ensure the security of financial transactions in the mobile Internet environment and improve the availability, satisfaction and security of financial services. Comprehensive use of digital signature technology, consensus mechanism and other means to strengthen the standard management of financial transaction messages, to ensure the traceability and non-repudiation of financial transactions, and to improve the authenticity, confidentiality and integrity of financial transaction information. Actively explore the application of emerging technologies in optimizing the credible environment of financial transactions, and steadily promote the technical verification pilot and R&D of distributed ledgers.

The third section empowers financial services to improve quality and efficiency

Rational use of financial technology means to enrich service channels, improve product supply, reduce service costs, optimize financing services, improve the quality and efficiency of financial services, and make financial technology innovations better benefit the people's livelihood and promote the healthy and sustainable development of the real economy.

(9) Broaden financial service channels.

Make full use of information technology and Internet resources to strengthen online services, enrich and improve financial products and business models, and provide customers with comprehensive, multi-level online financial services. Further develop the advantages of offline resources, build an online and offline integrated business development model, accelerate the development of online and offline channel layout planning and omni-channel service implementation plans, and realize information sharing and service integration of electronic channels, physical outlets, and self-service devices. Enhance cross-marketing and cross-channel service levels to solve the problem of insufficient online and offline development imbalance. Deepen cross-border cooperation with means such as application programming interface (API) and software development kit (SDK), integrate financial deconstruction and module encapsulation under the premise of legal compliance, and support partners to combine and apply in different application scenarios. With the help of high-quality channel resources in various industries to create a new business paradigm, maximize the use of resources, and build an open, cooperative, and win-win financial service ecosystem.

(10) Improve the supply of financial products.

Strengthen the demand-leading role, actively adapt to the rapid changes in market demand in the digital economy environment, and use the technologies of big data and Internet of Things to analyze customer financial needs under the premise of ensuring customer information security, with the help of machine learning, biometrics, natural language processing, etc. A new generation of artificial intelligence technology to enhance the ability of financial multimedia data processing and understanding, and to create intelligent financial products and services that “see the text” and “understand the language”. Combine customer's individualized needs and differentiated risk preferences, build a product-centered financial technology design and development system, explore the use of agile development, grayscale publishing, development and operation integration and other methods to enhance the quality and efficiency of innovative research and development, to create differentiation, Scenario, intelligent financial services products. Strengthen customer service continuous tracking, improve marketing strategies, improve user experience, improve marketing effectiveness, and improve product usability and customer retention.

(11) Improve the efficiency of financial services.

Actively use mobile Internet, artificial intelligence, big data, image recognition and other technologies to promote the transformation of traditional physical outlets to marketing and experience-based smart outlets, optimize and improve outlet layout and service processes, reduce business processing time, and improve network operation efficiency. Explore multi-channel identity verification based on cross-industry data resources to improve the efficiency of financial service customer identification. Exploring the light financial service model, creating a comprehensive financial and people's livelihood service platform for in-house aggregation products and services, external connection cooperation institutions and customers, leveraging customer agglomeration effects, reducing the marginal cost of financial services, and improving the efficiency of financial services and social public services. Utilize technologies such as cloud computing to achieve high resource reuse, flexible scheduling and effective supply, and explore the construction of cross-level and inter-regional automated and intelligent business processing centers to improve the efficiency of financial services operations.

(12) Enhance the ability of financial benefit to serve the people.

Strengthen the awareness of financial services, sink the focus of business, increase the service to retail customers, and make the development of financial technology more beneficial to people's livelihood. Relying on the telecommunications infrastructure, we will take advantage of the ubiquitous advantages of the mobile Internet, provide safe, convenient and efficient specialized financial technology services to the “three rural” and remote areas, especially the deep poverty areas, extend the radius of financial services, and break through the last mile of financial services. "Restriction and promote the development of digital inclusive finance. Actively explore the innovative service model of financial benefit, and use financial finance and situational awareness to integrate financial services into the people's livelihood, further expand the application of financial services in food, clothing, housing, medical education, e-commerce, etc., and achieve financial convenience in the main areas of people's livelihood. Wide coverage of services, and improve the level of public service facilitation such as social security, medical treatment, and utility payment.

(13) Optimize corporate credit financing services.

Intensify the innovation of financial technology product services, strengthen the use of scientific and technological achievements such as artificial intelligence, mobile Internet, big data, cloud computing, and accelerate the improvement of credit processes and credit evaluation models in key areas such as small and micro enterprises, private enterprises, and science and technology enterprises. Enterprise credit reporting agencies use alternative data to assess corporate credit status, reduce operating management costs, improve loan disbursement efficiency and service convenience, understand the dilemma of financing difficult financing, and promote economic transformation and upgrading, and the conversion of old and new kinetic energy. Based on massive data processing and intelligent auditing technologies, comprehensive analysis of enterprise types, financial status, solvency, etc., reduce information asymmetry, strengthen risk detection and early warning, timely adjust the credit rating of financing entities, prevent capital flow to poor operating conditions, and liquidate High-risk enterprises with high difficulty provide decision support for solving problems such as realism and vacancy. Strengthen the application of big data analysis in the supply chain, ensure that the borrowing funds are based on real transactions, provide efficient and convenient financing channels for upstream and downstream enterprises in the supply chain, and solve supply chain funds through cross-border integration, construction of supply chain financial service platforms, and establishment of industrial chain ecology. Unbalanced issues such as configuration, and rational guidance of financial resources allocation to key areas and weak links in economic and social development.

(14) Increase the intensity of technology-enabled payment services.

Utilize artificial intelligence, payment tokenization, cloud computing, big data and other technologies to optimize the mobile payment technology architecture system to achieve unified account marking, mobile client software (APP) specification interface, and centralized transaction routing. Promote bar code payment interconnection, research and develop bar code payment interconnection technical standards, unify bar code payment coding rules, build bar code payment interconnection technology system, open bar code payment service barriers, and realize mutual recognition of different APP and merchant bar code identification. Exploring the face recognition offline payment security application, using password recognition, privacy calculation, data labeling, pattern recognition and other technologies, using special passwords, “non-inductive” in vivo detection, etc. to achieve transaction verification, breaking through 1:N face recognition payment application performance Bottlenecks, a licensed financial institution constructs a transfer clearing mode with face features as routing identifiers to achieve a unified security and convenience of payment instruments.

Section IV Strengthening Financial Risks and Technical Defense Capabilities

Correctly handle the relationship between security and development, use financial technology to enhance the identification, early warning and disposal capabilities of cross-market, cross-industry and cross-regional financial risks, strengthen network security risk management and financial information protection, do a good job in new technology application risk prevention, and firmly hold on There is no bottom line for systemic financial risk.

(15) Enhance the risk prevention ability of financial business.

Improve the financial business risk prevention and control system, use data mining, machine learning and other technologies to optimize risk prevention and control data indicators and analysis models, accurately characterize customer risk characteristics, effectively identify high-risk transactions, and improve the accuracy of financial business risk identification and disposal. Improve the risk monitoring and early warning mechanism and early intervention mechanism, reasonably construct a dynamic risk measurement and scoring system, formulate hierarchical classification and risk control rules, embed intelligent risk control into business processes, realize suspicious transaction automatic interception and risk emergency disposal, and improve the timeliness of risk prevention and control. Organize and establish a unified financial risk monitoring platform, guide financial institutions to strengthen the real-name system and security management of APP and portal websites in the financial sector, enhance the security monitoring and protection level of online banking, mobile banking, direct banking and other business systems, and improve the counterfeit APP and phishing websites. Identify disposition capabilities. We will build a cross-industry and cross-sector risk joint prevention and control mechanism, strengthen risk information disclosure and sharing, increase joint punishment, prevent cross-contagion of risks, realize early identification of risks, early warning and early disposal, and improve the overall level of prevention and control of financial risks.

(16) Strengthen financial network security risk management and control.

Strictly implement the National Cyber ​​Security Laws and Regulations and related system standards such as the "Network Security Law", continue to strengthen network security management, improve the network security technology protection system of the whole process and the entire chain, and accelerate the formulation and organization of key software and software information for the financial industry. Infrastructure security planning, strengthen coordination with the departments of network, public security, and industrial credit, and effectively improve the security of key software and software infrastructure in the financial industry. Improve the construction of network security technology system, improve the financial network security emergency management system, optimize the financial industry disaster backup system layout, and improve the financial industry information system business continuity. Strengthen network security situational awareness, dynamically monitor and analyze network traffic and network entity behavior, map the overall situation of financial network security, accurately grasp the rules and trends of network threats, realize global risk perception and pre-judgment warning, and enhance major network threats, major disasters and The ability to respond to emergencies. Strengthen top-level design and overall coordination, build a cross-industry, unified financial network security situational awareness platform, support the financial industry network attack source tracing and accurate response, and enhance the overall control and joint disposal capabilities of major cyber attacks.

(17) Strengthen the protection of financial information.

Establish a long-term mechanism for prevention and control of financial information security risks, study and formulate financial information life cycle management systems and standards, regularly organize the investigation of links that are prone to financial information disclosure, and protect data assets such as identity, property, accounts, credit, transactions, etc. Safety. Strengthen financial information security protection, follow legal and reasonable principles, select security controls, terminal equipment, APP and other products that meet national and financial industry standards for financial information collection and processing, and use channel encryption, two-way authentication and other technologies to ensure the security of financial information transmission. Sexuality, using encryption storage, information summary and other means to ensure the confidentiality and integrity of important financial information, through identity authentication, log integrity protection and other measures to ensure that the use of financial information is authorized, recorded, to prevent the risk of financial information centralized leakage. Strengthen the internal control management of financial information protection, improve the financial information security management system, clarify the management responsibilities of relevant posts and personnel, and regularly conduct internal audits of financial information security and external security assessments to prevent financial information disclosure and abuse.

(18) Do a good job in risk prevention of new technology and financial applications.

Correctly grasp the relationship between financial technology innovation and security, strengthen the basic and forward-looking research of new technologies, and rationally apply new technologies to enable financial products and service innovation under the premise of security compliance. Comprehensively analyze the applicability, security and supply chain stability of new technologies based on actual business scenarios and transaction scales, and scientifically select and apply relatively mature, controllable, stable and efficient technologies. Fully evaluate the potential risks of new technology and business integration, establish a sound trial and error tolerance mechanism, improve risk compensation measures such as risk provision funds, insurance plans, emergency response, etc., carry out new technology pilot verification within the risk controllable range, and make user feedback. With the collection of public opinion information, we will continuously improve the safety and quality of financial products. Strengthen the application guarantee mechanism of new technologies, clarify the operational monitoring and risk emergency response strategies for new technology applications, and guard against the risks and application risks of new technologies.

Section V Increases Financial Prudential Supervision

Strengthen the prudent supervision of financial science and technology, establish and improve the basic rules system for supervision, increase the basic rules of supervision, analysis, analysis and evaluation, use modern technology to timely monitor the flow of funds online and offline, international and domestic, and explore the management of financial science and technology innovation. Mechanism, comprehensive statistics of the service finance industry, enhance the professionalism, unity and penetration of financial supervision.

(19) Establish a basic rules system for financial science and technology supervision.

Fully draw on international advanced experience, systematically sort out current regulatory rules, combine the development trend of China's financial science and technology, strengthen the top-level design of financial science and technology supervision, and gradually build a comprehensive program, complete and rigorous, and support each other in terms of basic generalization, technology application, and safety control. The basic rules system of financial technology supervision. According to the common characteristics of different businesses, different technologies and different institutions, the basic, universal and universal regulatory requirements for the application of financial science and technology innovation should be clarified, and the threshold and bottom line of financial technology products and services should be defined. According to the essential characteristics and risk characteristics of special technologies, professional and targeted regulatory requirements are proposed, and differentiated financial regulatory measures are formulated to improve the fineness and matching of supervision. In view of the common risks of financial technology innovation application in information protection, transaction security, business continuity, etc., from the general security requirements of sensitive information life cycle management, secure and controllable identity authentication, financial transaction intelligent risk control, etc., clear and insurmountable Safety red line.

(20) Strengthen supervision and coordination.

Establish and improve the financial coordination regulatory framework, give full play to the supporting role of the comprehensive statistics of the financial industry on the dual-pillar regulation framework of monetary policy and macro-prudential policy, build a financial institution asset management product reporting platform within the framework of the national financial basic database, and introduce new financial technology products. It is integrated into the comprehensive statistical system of the financial industry. Through statistical information standardization, data mining algorithm embedding, multi-dimensional data extraction, and visualization of core indicators, it helps the construction of a comprehensive statistical system of the “unified, comprehensive and shared” financial industry, covering all financial institutions and finance. Infrastructure and financial activities to ensure the integrity and authority of statistical information.

(21) Improve the ability of penetrating supervision.

Strengthen the application of regulatory technology, establish and improve a digital regulatory rule base, study and formulate a risk management model, improve the regulatory data collection mechanism, obtain risk information in real time, and automatically capture business feature data through system embedding, API, etc., to ensure the authenticity of regulatory information. And timeliness. Integrate the whole process supervision information to establish a monitoring and analysis model, connect the source of funds, intermediate links and final investment penetration, and comprehensively and intelligently analyze the nature of financial business and legal relationship through financial innovation to accurately identify, prevent and resolve financial risks. Strengthen the depth and breadth of regulatory penetration. Guide financial institutions to actively cooperate with the implementation of penetrating supervision, accurately send operational data through system interfaces, rationally apply information technology to strengthen compliance risk monitoring, enhance intelligence and automation compliance capabilities and levels, and continuously meet financial regulatory requirements.

(22) Establish and improve the innovation management mechanism.

Strengthen the standardized management of financial science and technology innovation products, introduce basic and general regulatory requirements, clarify the insurmountable red line and bottom line, and use flexible disclosure methods of information disclosure, product publicity, public participation, and joint supervision to define the boundaries of innovation in financial science and technology. To enable financial technology innovation to follow the rules and regulations, to ensure that financial technology products business compliance, technical security, risk controllable. We must do a good job in controlling the source beforehand, implement the main responsibility, strengthen internal control and external evaluation, and strictly control the entry of financial technology innovation products. Strengthen synergy and co-governance in the matter, take the financial technology innovation product declaration management as the starting point, fully mobilize the enthusiasm of all parties in the society, expand participation, and build a multi-integrated governance system of industry supervision, social supervision, association self-discipline, and institutional autonomy to jointly build The governance pattern of the whole society synergy and co-governance, timely discover the hidden dangers of financial technology innovation products, eliminate the products with potential safety hazards, and build a financial security innovation security firewall. Intensify supervision and punishment afterwards, smooth channels for complaints and reports, establish a joint disciplinary mechanism, strengthen violations and regulations, and ensure that innovative products do not break through regulatory requirements and laws and regulations, and do not trigger systemic financial risks.

Section VI Consolidates Financial Science and Technology Foundation Support

Continuously improve the ecology of the financial technology industry, optimize the industrial governance system, and vigorously support the healthy and orderly development of financial technology from the aspects of technological research, legal construction, credit services, standards and regulations, and consumer protection.

(23) Strengthen joint research on financial science and technology.

Rationally lay out the ecology of the financial technology industry, and promote the synergy and linkage of production, education and research. Focus on major scientific frontier issues and basic theoretical bottlenecks, carry out forward-looking and basic research, support universities and research institutes to study and establish financial science-related discipline systems, promote economic and financial, computer science, mathematical science and other multidisciplinary integration, grasp financial technology Develop deep laws and consolidate the theoretical basis for the application of financial technology. In response to the common technical problems faced by the development of financial technology, the industrial sector will be encouraged to increase support, and scientific and technological enterprises will be encouraged to strengthen research and research to provide technical support for the development and application of financial technology. Through the incubation platform, special cooperation, pilot promotion and other means, promote the timely transformation and sharing of technological achievements, and enhance the overall competitiveness of China's financial technology industry chain.

(24) Promote the strengthening of laws and regulations.

In view of the new characteristics of modern scientific and technological achievements in financial application, we will promote the improvement of the financial rule of law system in line with China's national conditions, study and adjust existing laws, regulations and policies that do not meet the requirements of financial technology development, and promote the introduction of relevant laws and regulations for the application of new technologies in the financial industry. When mature, the departmental regulations with lower legislative levels will be raised into laws and regulations in a timely manner. Clarify legal boundaries, clarify the functions of financial regulatory authorities and the rights and obligations of financial institutions, break down policy barriers in information sharing, create a fair and standardized market environment, and provide legal protection for the integration of finance and technology.

(25) Enhance the support role of credit services.

Improve the basic database of financial credit information, guide market-based credit reporting agencies to carry out credit information business in accordance with laws and regulations, expand the coverage of credit reporting, and build credit rating agencies with high credibility and greater influence to meet the multi-level and all-round social Specialized credit information needs to promote the sharing and application of credit information. Strengthen the protection of the rights and interests of credit information, prevent the risk of credit information disclosure, improve the objection, complaint and responsibility handling mechanism of credit information entities, effectively protect the security of personal credit information, and improve the effective supply and credit information services of the credit information market.

(26) Promote standardization work.

In light of the new developments and new trends in financial technology, we will improve the financial technology standards system, foster national and financial industry standards that meet market and innovation needs, and strengthen coordination among standards, from basic general, product services, operations management, information technology and industry management. Aspects guide financial innovation. Accelerate the development of technologies and safety specifications for artificial intelligence, big data, cloud computing and other applications in the financial industry. For the financial industry information technology application, establish and improve the national unified certification mechanism, further strengthen the safety management of financial technology innovation products, promote the implementation of financial standards, and effectively improve the quality and safety of financial services. Continue to promote the internationalization of information technology innovation and application standards in the financial industry, actively participate in the formulation of international standards, promote the transformation of domestic excellent standards into international standards, and promote the globalization of China's financial technology innovation.

(27) Strengthen the protection of financial consumer rights and interests.

Establish and improve the consumer rights protection mechanism that adapts to the development of financial science and technology, standardize and guide financial institutions to provide financial technology products and services, strengthen supervision and inspection according to law, promptly investigate and punish violations of the legitimate rights and interests of financial consumers, and maintain an orderly operation of the financial technology market. Guide financial institutions to incorporate the legitimate rights and interests of financial consumers into the overall planning of corporate governance, corporate culture construction and business development strategies, establish and improve emergency response mechanisms for major emergencies, conscientiously implement the appropriateness system for investors, and formulate advance compensation, insurance compensation, etc. Specific measures to protect the legitimate rights and interests of financial consumers. Supervise and guide financial institutions to effectively fulfill the main responsibilities of financial consumer complaints, improve complaint handling procedures, improve the quality and efficiency of complaint handling, accept social supervision, and effectively protect the legitimate rights and interests of financial consumers.

Chapter IV Safeguards

Section 1 Strengthening Organizational Coordination

The development plan of financial science and technology is a forward-looking plan that is related to the high-quality development of China's financial industry. It must attach great importance to it, strengthen organizational leadership, combine practical, scientific planning, overall coordination, and implement the spirit of nailing the nails. According to the functional orientation and task division research, formulate specific implementation measures, improve supporting policies and measures, improve the positive incentive mechanism, improve the enthusiasm of relevant units to promote the development of financial science and technology, and form close cooperation with financial management departments, financial institutions, industrial departments, and social organizations. Work in a coordinated manner to ensure that all measures and requirements are in place.

The second section to increase policy support

Increase capital investment in the central and local budgets, give play to the role of national science and technology plans (special funds, funds, etc.), and focus on supporting the foundation, commonality and key technology research and development of majors in financial science and technology, pilot demonstration of major applications, and construction of public service platforms. Exploring the guiding financial support mode, playing a decisive role in the market allocation of resources, the role of the innovation main body of financial institutions and the leverage of fiscal funds for financial technology innovation activities with clear needs. Implement the state's tax policy to support scientific and technological innovation and application, and reduce the tax burden of financial technology innovation.

Section III Improve Supporting Services

Give full play to the resources, technology, talents, environment and other advantages of various regions, increase the support of financial technology-related ancillary services, and comprehensively plan the overall layout of software and hardware. We will increase the construction of financial technology carriers, and scientifically set up financial technology demonstration zones such as industrial parks, incubators, accelerators, characteristic towns, and mass creation spaces to centrally carry financial technology formats and stimulate the endogenous development momentum of financial institutions and technology companies. Explore new mechanisms for the docking of financial resources and scientific and technological resources, develop professional services such as legal consultation, intellectual property rights, venture capital, equity financing, business incubation, and marketing, and build a comprehensive chain and comprehensive financial technology industry ecology.

Section IV Strengthening International Exchange

Adhere to the reform and opening up of the financial industry, further deepen close ties and communication with other countries, regions and international organizations, and strengthen multi-form, multi-level and multi-disciplinary consultations and pragmatic cooperation in terms of talents, technology, standards and intellectual property rights, and improve The global governance system of financial technology promotes the establishment of new international rules that are conducive to the development of financial technology and achieves mutual benefit and common development. In conjunction with the “One Belt and One Road” initiative, we will actively export technologies, standards, products and services that have been promoted by China's financial technology development, explore bilateral and multilateral demonstration projects, and continuously improve the ability and level of China's financial industry to use information technology.

The fifth section is doing a good job of propaganda

Take the initiative to do a good job of policy interpretation, promote relevant policy measures to be open and transparent, positively guide social public opinion, and ensure that policies are accurately transmitted and effectively implemented. Financial institutions and industry self-regulatory organizations should actively use various forms to carry out publicity work, popularize relevant knowledge of financial technology application and development, enhance consumer financial literacy, cultivate modern financial concepts, enhance consumer risk prevention capabilities, and create for development and implementation. Good social environment and public opinion atmosphere.