Beijing Fintech Innovation Supervision Pilot Application Debuts for the First Time

According to the Associated Press, Beijing ’s fintech innovation supervision pilot application was unveiled for the first time. On January 14, 2020, six innovative applications were announced to the public, involving state-owned commercial banks, national joint-stock commercial banks, large-scale city commercial banks, clearing organizations, and payments. Institutions, technology companies, and other institutions, mainly focusing on the application of cutting-edge technologies such as the Internet of Things, big data, artificial intelligence, blockchain, and APIs in the financial field, covering multiple application scenarios such as digital finance, aiming to relieve the financing difficulties of small and micro enterprises Expensive financing issues, improving financial convenience services, and expanding financial service channels. The pilot project represents the current mainstream direction and advanced results of the development of fintech in China, and has the characteristics of advanced technology, universal scenes, and strong demonstration.