China's central bank issues financial technology development plan

BEIJING -- China has released a plan for the development of financial technology from 2022 to 2025 under efforts to spur the digital economy with an improved modern financial system, according to the country's central bank on Tuesday.

The plan, released by the People's Bank of China, stressed the importance of the role of digital technology in financial services and business operations.

It outlined major tasks in eight areas, including strengthening financial technology governance, boosting data capacity, building green data centers with high availability, and deepening the application of digital technology in the financial sector.

China will work to bring about a great leap forward in the overall level and core competence of its financial technology by 2025, according to the plan.