On May 28, the Securities and Futures Fintech Research and Development Center (Shenzhen) (the "Fintech Center") established and operated by the Shenzhen Stock Exchange ("SZSE") successfully held the 2019 Closing Report and 2020 Opening Report Meeting. The meeting strictly implemented the requirements of the regular pandemic prevention and control via a combination of online and offline means. About 200 persons including relevant leaders of the Technology Regulation Bureau under the China Securities Regulatory Commission ("CSRC") and the SZSE, representatives of the Securities Association of China and the Asset Management Association of China, consultants of the Fintech Center and leaders of some research team attended the meeting,. The attendees made in-depth exchanges on the development and application of financial technology in the industry.
On the meeting, the recent work progress of the Fintech Center, the results of some outstanding projects in 2019, and the research ideas, technical routes, expected results, and schedule of some projects approved in 2020 were presented, and the 2019 excellent project winners were awarded. Experts attending the meeting highly praised the 2019 research work of the Fintech Center, and put forward valuable opinions and suggestions on how to do better in the next step.
The head of the CSRC Technology Regulation Bureau said that technology regulation is one of the key tasks for comprehensively deepening the reform of the capital market. The CSRC attaches great importance to technology regulation, and the development of various technologies in the system has been continuously promoted. To realize the goal and vision of “data makes regulation smarter” put forward by Chairman Yi, we need support from and breakthroughs in technological innovation, and carry out pre-research and exploration on the project of regulatory technology. The Fintech Center has achieved positive results in researches on innovative project, infrastructure construction, industry training and results exchange. The Technology Regulation Bureau will continue to support the development of the Fintech Center. It is hoped that the industry organizations will strengthen exchanges and cooperation, share resources, jointly enhance the overall strength of the industry, incubate and develop a number of good-looking, easy-to-use and effective innovative products, improve user experience and sense of gain, and better build a more open, integrated and intensive industry technology ecosystem.
Relevant official of SZSE said that since its establishment, the Fintech Center has continued to strengthen collaborative innovation with institutions in and outside the industry, organized key research groups to carry out basic researches on the underlying data such as the industrial chain, and established joint innovation laboratories with Tencent and Huawei. With the joint efforts of all parties in the market, it has gradually become the financial technology innovation service base in the industry. Openness, integration and sharing are the development trends of the financial ecosystem. The COVID-19 pandemic accelerates the digital transformation and upgrading of the industry. The Fintech Center will continue to leverage the advantages of the technological innovation of the public research platform of the industry, increase investment in financial technology innovation, and pool resources across the industry to jointly build a digital ecosystem of industry in the new era.
The Fintech Center is a public research platform approved by the CSRC, which aims to serve the industry and focuses on the innovative development of financial technology. Organizing the industry to carry out research project is an important responsibility of the Fintech Center. The 2019 approved projects of the Fintech Center were successfully closed after nearly a year of research and brainstorming. Among them, 12 industry projects were rated as outstanding. In order to further strengthen the application of financial technology innovation achievements, the Fintech Center will conduct 2019 excellent project achievement sharing and interactive exchange activities through an online meeting on May 29. The 2020 project solicitation has been officially launched in February 2020, and institutions across industry have responded actively. A total of 64 projects have been approved, covering research fields such as intelligent services, intelligent regulation, security operation, entity profiling, block chain and key technology algorithms.