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China to promote sci-tech application in financial supervision

Updated: Dec 05,2019 04:58 PM    Xinhua

BEIJING — China will further apply sci-tech means in financial supervision, amid efforts to prevent and defuse financial risks, said the country's securities regulator.

The country will actively explore the classification of financial trading risks, the China Securities Regulatory Commission (CSRC) said in its reply to a suggestion proposed at the second session of the 13th National People's Congress.

Big data technologies will also be used to crack down on illegal internet financial activities, among increased efforts to enhance regulatory efficiency and create a healthy environment for investors, said the CSRC.

The CSRC will work to promote the healthy development of internet equity financing activities and strengthen regular supervision of internet fund sales businesses.

Efforts will also be stepped up in terms of investor education, to constantly improve investors' financial and risk prevention awareness, said the CSRC.

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