Financial Regulatory Bureau: Encourage small and medium-sized financial institutions to fully leverage their comparative advantages, and build a digital financial ecosystem for small and micro-enterprises that conforms to their own characteristics.

The General Office of the China Banking and Insurance Regulatory Commission issued the "Implementation Plan for High-Quality Development of Digital Finance in the Banking and Insurance Industries". The plan proposes to deepen financial services for small and micro enterprises. Expand the use of data in the flow of goods, funds, and information for small and micro enterprises, and improve intelligent credit algorithms by integrating external data such as industrial and commercial taxation. Establish an online comprehensive service platform for small and micro finance, and conduct online business processes such as approval, signing, and collateral handling in compliance. Encourage small and medium-sized financial institutions to fully leverage their comparative advantages and build a digital financial ecosystem for small and micro enterprises that fits their own characteristics.