News Snapshot:
Finance Faced with rapidly evolving financial technology (fintech), China will continue to maintain an innovative and prudent approach in embracing new challenges, a Chinese official said Tuesday. As the off-counter transaction rate of Chinese banks has exceeded 90 percent and financial services are highly dependent on the internet, cybersecurity needs to be highlighted, said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC). Guo made the remarks while delivering a speech at the Singapore Fintech Festival, which runs from Dec. 7 to 12. Fairer market competition will be pursued, as tech giants can use data monopoly advantages...
