The Shanghai Financial Regulatory Bureau issued guidance to boost tech-driven
efficiency in the banking and insurance sectors, urging use of digital
intelligence to enhance financial services. It encourages eligible financial
institutions to build enterprise-level AI platforms and to integrate big data,
blockchain, IoT and quantum computing across product R&D, business
decision-making and risk management to raise digital-operational capabilities.
The bureau supports shifting tech-enterprise evaluation from primarily financial
metrics to technology-innovation capability, leveraging tech-finance databases
and the HuKe scoring system to build a dedicated tech-finance evaluation
framework, profile tech talent and firms, and accelerate tailored tech-finance
product development. The guidance also mandates stronger secure AI practices,
tighter data and network security, and reinforced data, model and algorithm risk
management to protect financial consumers’ data privacy.
