Shanghai financial technology innovation supervision pilot application publicity “supervision sandbox” launched again

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According to the Shanghai headquarters of the people’s Bank of China, eight applications to be included in the financial technology innovation supervision pilot project are open to the public for comments.
The application agencies include bank of Communications Co., Ltd., Bank of Shanghai Co., Ltd., etc., and the innovative application names cover financing services of small and medium-sized enterprises, blockchain financing services, risk collaborative sharing products, etc.
Serial number innovative application name application type application institution 1 financing service financial service for small and medium sized enterprises based on multi-party security graph calculation, Bank of Communications Co., Ltd., China Mobile (Shanghai) information and Communication Technology Co., Ltd., Shanghai Fushun Technology Co., Ltd. 2 online financing service financial service for small and micro enterprises based on blockchain Shanghai Pudong Development Bank Co., Ltd.3 “Upstream inclusive” contactless financial services financial services Bank of Shanghai Co., Ltd. 4 intelligent supply chain financing services based on Artificial Intelligence China UnionPay Co., Ltd., Shanghai Pudong Development Bank Co., Ltd., Bank of Shanghai Co., Ltd. 6 “Xinmeng chain” risk information collaborative sharing products technology products CCB Financial Technology Co., Ltd., China Construction Bank Co., Ltd. 7 “financing guarantee” small and medium enterprises bill circulation support products technology products Industrial Digital financial services (Shanghai) Co., Ltd., Industrial Bank Co., Ltd. 8 “easy to melt star” industrial financial digital risk control products technology products Shanghai Jujun Technology Co., Ltd., industrial and Commercial Bank of China Limited Shanghai Branch
It is reported that the supervision of financial technology innovation is also known as the “supervision sandbox” of financial technology. The central bank started the pilot work in Beijing in December 2019 to guide licensed financial institutions and technology companies to explore the use of emerging technologies to drive financial innovation, enable finance to improve quality and efficiency, and strive to improve the ability of financial services to the real economy.
“Generally speaking, the” supervision sandbox “is to put financial technology innovation into the cage of the system, so that all financial innovation is carried out under the premise of law and compliance.” Huo Xuewen, Secretary of the Party group and director of the Beijing Financial Bureau, said.