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China's central bank says will gradually set up rules to regulate fintech

Published 03/16/2019, 03:36 AM
Updated 03/16/2019, 03:40 AM
© Reuters. Headquarters of the PBOC, the central bank, is pictured in Beijing

SHANGHAI (Reuters) - China's central bank said on Saturday it will gradually set up a system of rules to regulate fintech, and will fully utilize the technology to optimize the flow of credit and reduce financing costs for businesses.

© Reuters. Headquarters of the PBOC, the central bank, is pictured in Beijing

The People's Bank of China (PBOC), in a statement on its website, also said it would enhance the application of new technologies in regulation, and improve the ability to prevent risks.

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