Chinese central government has unveiled plans to create a fintech risk control center in Beijing, highlighting greater concern with financial risk as a national security issue. On 7 September the State Council announced the approval of the Work Plan for Deepening Beijing’s New Round of Services Sector Expanded Opening Comprehensive Trials and Establishment of a State Services Sector Expanded Opening Comprehensive Demonstration Zone.
Beijing is the financial regulatory centre of the state, and the most important aspect of financial regulation is the regulation of risk, which in future will be to a large extent closely tied to fintech activities.