Digital Technology Boosts China’s Inclusive Finance Strategy
Digital technology has given Chinese people previously shut out of the banking system access to financial services, and will improve the ability of farmers, small businesses and individuals to get loans and make investments online, Xu Zhong, head of the research bureau at the People’s Bank of China, said Thursday.
But growth of the industry has been accompanied by an increase in illegal financial practices and fraud, and regulators must remain alert to the risks and fight criminal activities, Xu told a conference on digital financial inclusion in Beijing. He also warned financial institutions not to neglect the risks involved in online finance.
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas