National concept of FinTech development: the outcomes of the People’s Republic of China

• Goryan E.V.

  Ella V. Goryan Vladivostok State University of Economics and Service. Vladivostok. Russia

The object of the research is the legal regulation of financial technologies in China. The provisions of the Fintech Development Plan for 2022–2025 and Chinese legislation in this area are studied. In order to obtain the most reliable scientific results, the normative one and the comparative legal methods were used. While drafting the Fintech Development Plan for 2022–2025, the financial regulator took into account all the opportunities for the expansion of financial technologies, the main goals of regulation and ambitions fo advanced financial technologies and inclusive growth of the FinTech sector. The Chinese concept of fintech development has a number of features: the legislator sets specific time frames for achieving benchmarks; state development support is combined with the establishment of strict regulatory frameworks, which are aimed at achieving state goals – strengthening the economy, ensuring the safety of financial products and services, protecting human rights and interests. The concept has been developed as an essential element of the information security mechanism. In the long term, such an instrument will help to create a favorable investment climate and ensure the rights of investors.
Keywords: fintech, financial regulator, personal data, information security, China.