Li Junfeng, China Banking Regulatory Commission: Encourage commercial banks to use blockchain and other technology to innovate products and services

According to China Business News, on December 20, the CBRC held a briefing on key work in the near future, providing a detailed introduction on how the banking and insurance industry serves the real economy. Li Junfeng, director of the Inclusive Finance Department of the China Banking and Insurance Regulatory Commission, said that commercial banks are encouraged to use technological innovation products and services such as Internet big data, artificial intelligence, and blockchain to consolidate the energy and loan models that have been initially formed. In addition, with differentiated regulatory policies, the reform of the internal operating mechanism of commercial banks was promoted.