High-Quality Inclusive Financial Development Plan in China
On June 26, the National Financial Supervisory Authority and the People's Bank of China jointly issued the 'Implementation Plan for High-Quality Inclusive Financial Development in the Banking and Insurance Sector.' The key objective of this plan is to establish a comprehensive, high-quality financial system within the next five years, aiming to promote sustainable and common social prosperity.
Comprehensive Inclusive Financial System
The plan emphasizes the continued optimization of the inclusive financial service system. This includes building financial infrastructure capable of serving a diverse range of subjects, from low-income households to small and medium enterprises, to enhance access to capital and insurance in society. This is an important step to narrow the financial gap and mitigate social economic risks.
Strengthening the Inclusive Credit System
An essential part of financial development is strengthening the inclusive credit system. Improving the performance of credit products aimed at groups not adequately served by traditional financial services facilitates the enhancement of personal and business liquidity. Through a decentralized credit model, utilizing big data and artificial intelligence, this system will become more transparent and sustainable.
Gradual Improvement of the Inclusive Insurance System
Alongside credit, the inclusive insurance system is also being improved to meet the financial protection needs of all classes. This policy aims to mitigate risk reduction and help people, businesses, especially vulnerable groups, to enhance their resilience against economic fluctuations. The insurance system with a variety of innovative products and advanced technology will gradually be perfected in the upcoming phase.
Impact on the Cryptocurrency Market
Thanks to the comprehensive development of inclusive finance, the cryptocurrency market in China is likely to benefit indirectly. Easier access to traditional financial services will promote the integration of Blockchain technologies, smart contracts, and cryptocurrency solutions within the new financial ecosystem. This is an opportunity for the cryptocurrency ecosystem to demonstrate practical value, enhance security, and improve liquidity.
Conclusion
The high-quality inclusive financial development plan officially lays the foundation for a dynamic, inclusive financial ecosystem while supporting sustainable economic and social development goals. In the next five years, we will witness breakthroughs in access to financial services, a support point that helps China promote common prosperity and improve the status of digital assets in the national economy.
Source: https://tintucbitcoin.com/xay-dung-he-thong-tai-chinh-toan-dien/
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