HomeBusinessChinese banks, insurers urged to step up digitalisation -Securities Times

Chinese banks, insurers urged to step up digitalisation -Securities Times

SHANGHAI : Chinese regulators urged banks and insurers to clarify progress of their digital transformation by 2025, the state-owned newspaper Securities Times reported on Thursday.

The purpose was set out in pointers issued by the China Banking and Insurance Regulatory Commission (CBIRC), which can be selling digitalised monetary services and products in addition to monetary improvements primarily based on digital property and know-how, in accordance to the article.

Chinese banks and insures ought to set up digitalised working and administration techniques, enhance their know-how capabilities and enhance their general community and knowledge safety, the newspaper stated, citing the CBIRC pointers.

Building a stronger digital economic system is a nationwide technique that Beijing hopes will foster new progress and enhance the nation’s world competitiveness. China can be ramping up its testing of a digital yuan.

(Reporting by Shanghai Newsroom; Editing by Hugh Lawson)

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