In March 2023, the World Bank Group released the report "Fintech and the Future of Finance: Market and Policy Implications". The report proposes that the application of digital technology to financial services, is reshaping the future of finance, and emphasizes the need for policymakers and financial regulators to actively innovate to respond to new challenges. The report discusses the fundamental drivers of Fintech, as well as the impact and risks of financial technology on the market. Based on a deeper understanding of financial technology, the report also conducts an in-depth study of the policy objectives and evolving trade-offs in the financial industry, and looks forward to the fintech regulatory framework. Beijing FIRST now excerpts the main contents of the report, divided into the first part with the theme of technology and market, and the second part with the theme of policy and regulation. This part is the first one for reference.
