The central bank partnered with the National Development and Reform Commission at the end of last year to launch a trial fintech program in 10 Chinese cities and provinces including Beijing, Shanghai, and Guangdong province.
Government bodies will now accelerate the introduction of a nationwide fintech development plan, said Fan.
The application of the technology should address financing problems faced by micro and small-sized enterprises, he said.
The program will use information networks and mobile internet technology to improve credit models and lower the cost of credit services, in an effort to improve efficiency.
Read More.. Source China Daily