China to launch financial innovation schemes in Chongqing, Zhejiang

BEIJING (Reuters) – China financial regulators said on Friday it will launch pilots schemes on innovations around financial standards in the city of Chongqing and the province of Zhejiang.

The schemes will “explore new models and new experience” to regulate systemically important financial institutions and financial infrastructures in the two regions, according to an online statement released by the People’s Bank of China.

The central bank will examine the results of the schemes in the fourth quarter of 2020, it said.

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