The People's Bank of China (PBoC) is releasing new details about a forthcoming five-year development plan focused on its strategy for advancing technology use in the country's domestic financial industry.
The press release emphasizes that from 2016 to 2020 the PBoC will be taking steps to help China's financial industry embrace economic reform.
Overall, the plan intends to put forward five goals for the financial technology industry: establishing a world-leading infrastructure, facilitating innovations in financial sector, implementing the financial industry standardization strategy and improving the competency and management of the financial network security system.
Looking more broadly, the release, while not yet fully public, is the latest sign the PBoC is actively looking into the potential of blockchain technology.
PBoC image via Shutterstock
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