On December 5, the central bank announced the launch of a fintech innovation supervision pilot, with Beijing taking the lead, and the Chinese version of the "regulatory sandbox" officially launched. Since this year, Beijing ’s exploration of the “regulatory sandbox” has also proceeded at full speed, and Xicheng District is expected to take the lead in trials. Analysts said that licensed institutions are expected to be the first to enter the pilot. "New, hot, and controllable risks" may be the standard for the pilot products. Among them, attempts such as digital currencies and loan assistance, joint loans, etc. that involve traditional financial fields but exist Controversial products may also enter the pilot.