Policy supporting the development of an international financial center in Shanghai
New policy promotes cryptocurrency platform
On June 18, news from Xinhua reported that the Central Financial Commission issued views aimed at promoting the progress of building an international financial center in Shanghai. One of the highlights is strengthening the construction of a unified financial credit service platform, supporting financial institutions to develop solutions based on blockchain technology and other advanced technologies. This aims to optimize the cryptocurrency ecosystem, promote the application of blockchain in financial sectors, thereby enhancing the development capacity of multi-tiered and multi-pillar pension fund systems.
Promote global fintech technology and sustainable development
The policy aims to build a high-quality global fintech center, promoting inter-regional cooperation to enhance development quality. Blockchain technologies, smart contracts, and tokenization systems are being encouraged for application to enhance transparency, safety, and efficiency in financial activities in Shanghai. This also contributes to attracting international investment and creating a sustainable developing cryptocurrency ecosystem, in line with the digital transformation trend of the entire industry.
Opportunities for developing the cryptocurrency sector in China
This policy opens great opportunities for the cryptocurrency sector in China, especially in digital financial activities, DeFi management, and developing blockchain applications in data management, transactions, payments, and investments. Pension funds and large financial investment funds can use blockchain-based platforms to optimize profits and minimize risks. At the same time, this is also a strategic move to enhance the competitive capacity of the Shanghai financial center globally.
Comprehensive financial and fintech center
The Shanghai government aims to build a comprehensive financial center, integrating diverse fintech solutions, especially the application of blockchain to create a world-class fintech ecosystem. The integration of blockchain-based financial services also helps to enhance liquidity, security, and develop new financial models in line with international standards. At the same time, it promotes inter-sectoral connections among financial institutions, banks, fintech, and cryptocurrency businesses, ensuring that this financial center's global competitiveness goal becomes increasingly clear.
Source: https://tintucbitcoin.com/ho-tro-ngan-hang-dung-blockchain-phat-trien-tai-chinh-chuoi-cung-ung/
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