With the deep integration of big data, cloud computing, artificial intelligence, Internet of Things, and other information technologies with financial services, financial boundaries have been repeatedly broken and reconstructed, while scientific and technological forces are providing continuous innovation vitality for financial services. FinTech, as defined by the Financial Stability Board (FSB) in 2016, is technology driven financial innovation, aimed at transforming or innovating financial products and services by using existing high-tech achievements, planning modern business models, and optimizing business processes, so as to promote continuous financial transformation and upgrading and improve quality and efficiency.
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Xinhuanet: At the ninth collective study of the Political Bureau of the CPC Central Committee, Xi Jinping emphasized strengthening leadership, making clear plans and tasks, laying a solid foundation, and promoting the healthy development of a new generation of artificial intelligence in China. 2018.10.31http://www.xinhuanet.com/video/2018-10/31/c_129983355.htm.
Xinhuanet: Xi Jinping delivered an important speech at the opening ceremony of the seminar on the prevention and resolution of major risks for the main leading cadres at the provincial and ministerial level to adhere to the bottom line thinking and focus on preventing and resolving major risks, 2019.01.21 http://www.gov.cn/xinwen/2019-01/21/content_5359898.htm.