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Xi Jinping is aware he needs Fintechs to support China’s economy

Beijing [China], June 25 (ANI): Chinese Premier slammed the weaponization of the global financial system and vowed to meet domestic growth goals, and called for the healthy development of China’s fintech sector.

“Those who politicize, leverage and weaponize global economy and willfully impose sanctions by taking advantage of dominance in international financial and monetary systems will eventually harm others and themselves and bring disasters to people around the world,” China Daily reported quoting Xi.

Xi was chairing the 26th meeting of the central commission for deepening overall reform on Wednesday.

State media further reported that Xi said China will strengthen macro-policy adjustment and adopt more effective measures to strive to meet the social and economic development targets for 2022 and minimize the impacts of COVID-19.

China has reported disappointing economic data for the month of April, according to CNN.

Xi, who is also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, had also urged efforts to accelerate the construction of basic systems for data and improve work on administrative divisions.

The meeting reviewed and adopted guidelines on the above-mentioned issues, as well as work plans to conduct pilot reforms of scientific and technological personnel evaluation and strengthen supervision over major payment platform enterprises.

He also highlighted the importance of building an evaluation system for scientific and technological personnel that is oriented toward innovation, capability and contribution, Xinhua News Agency reported.

Regarding large payment and fintech platform enterprises, Xi called for efforts to improve regulations, strengthen institutional weak links, ensure the security of payment and financial infrastructure, and guard against and defuse potential systemic financial risks, the local media reported.

He also called for these enterprises to be supported in better serving the real economy and smoothing the “dual circulation” of domestic and international markets.

Li Keqiang, Wang Huning and Han Zheng, who are members of the Standing Committee of the Political Bureau of the CPC Central Committee and deputy heads of the central commission for deepening overall reform, also attended the meeting. (ANI)

This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.

Source: The Print

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