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, April 3 (UTC+8), the Party Committee of the State Administration of Financial Regulation held a collective (expanded) study session for its Theoretical Learning Center Group. Li Yunzhe emphasized that efforts should focus on the main business of finance, to advance the development of a financial services system that is aligned with financing needs across the full life cycle of future industries. By using technology-enabled finance to provide precise support for the development of future industries such as artificial intelligence, new momentum will be injected into Chinese-style modernization. He said that development and security should be coordinated, that the trends in the development of artificial intelligence must be profoundly understood and accurately grasped, and that pilot applications of artificial intelligence in the financial industry should be advanced in a steady and orderly manner. A sound governance framework for the safe development, deployment, and application of artificial intelligence should be established and improved, to promote high-quality development of digital finance. He also said that science and technology empowerment should be strengthened. High-quality initiation of the “Jin Jian Project” construction should be carried out, and financial regulatory technology support should be built to ensure solid foundations. The level of intelligent, data-driven regulation and the ability for “penetrative” supervision should be continuously enhanced, so as to effectively improve the quality and effectiveness of strengthening regulation and enforcing strict regulation. (Source: PANews)