Financial Regulatory Authority: Promote the development of a financial services system that aligns with the financing needs throughout the entire lifecycle of future industries

ME News message. On April 3 (UTC+8), the Financial Regulatory Administration held a collective (expanded) study session of the Party Committee’s Theoretical Study Center Group. Li Yunzhe emphasized that efforts should focus on the financial main business, and that a financial services system should be built to meet the financing needs of future industries across their entire life cycle, providing precise support to the development of future industries such as artificial intelligence through technology-enabled finance, and injecting new momentum into Chinese-style modernization. He said that development and security must be coordinated, and that the development trends of artificial intelligence must be thoroughly understood and accurately grasped; pilot applications of artificial intelligence in the financial industry should be advanced in a prudent and orderly manner; a comprehensive governance framework for the safe development, deployment, and application of artificial intelligence should be established and improved; and high-quality development of digital finance should be promoted. He also said that science and technology empowerment should be strengthened, and that the “Jin Jian Project” construction should be launched with high quality, a solid foundation for financial regulatory technology support should be built, and the level of regulatory digitalization and intelligence as well as the capability for penetrative regulation should be continuously improved, so as to effectively enhance the quality and effectiveness of enforcing strong regulation and strict regulation. (Source: PANews)