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China Daily / 2020-09 / 23 / Page015

Fintech creates better environment for SMEs

By ZHOU LANXU and CHEN JIA | CHINA DAILY | Updated: 2020-09-23 00:00

China's commitment to upgrade the financial sector with advanced technologies brings tangible benefits to enterprises

China's efforts to make financial services more accessible and affordable for small businesses via technological innovations have made headway since the nation released its fintech development blueprint a year ago, officials and experts said.

They also called for improving the regulatory framework and sharpening technological innovation to strengthen the ability of fintech to serve the real economy, as the nation's focus remains on safeguarding market entities since the COVID-19 outbreak.

Chen Yulu, vice-governor of the People's Bank of China, the central bank, said the country's commitment to upgrading the financial sector with advanced technologies has "borne initial fruit" since the release of the fintech development plan.

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