Gains from new financial standards plan foreseen

The plan was jointly released by the People’s Bank of China, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission.(File pic: Peoples Bank of China)

SHANGHAI: A new plan to advance standardisation in the financial sector during the 14th Five-Year Plan (2021-2025) period will facilitate the high-quality development of China’s financial services industry and help improve the development efficiency of the real economy, said experts.

The plan was jointly released by the People’s Bank of China, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission.