Beijing Encourages Financial Sector Digital Evolution Through Specialized Entities and Core Tech Integration

Deep News
Sep 09

On September 9th, Beijing's municipal government released its "15th Five-Year Plan for Digital Economy Development," outlining key initiatives to advance digital financial services. The plan encourages Financial Institutions to establish dedicated digital subsidiaries and R&D centers, accelerating the integration of digital intelligence technologies into their core business operations.

The framework also calls for exploring mechanisms for financial data sharing and building a unified credit information platform to support broader industry development. Additionally, it promotes the digitalization of supply chain finance as a key area of focus.

Under the plan, Beijing will expand the application ecosystem for digital RMB, targeting use cases in corporate payments, cross-border trade, and daily utility settlements. The Lize Financial Business District is designated to serve as a demonstration zone for digital finance innovation.

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