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China to issue three-year development plan for fintech sector

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China will issue a three-year development plan for the country’s financial technology (fintech) sector, in a move to make it globally competitive while fending off risks, said the People's Bank of China (PBOC), China's central bank, in a statement released on Thursday.

China will use the fintech sector as a “new engine” for country’s high-quality financial development, said the PBOC.

Under a development plan for 2019-2021, China will improve the top-down design . . .

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