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Development plan for fintech issued

China has issued a three-year development plan for fintech to improve the quality of financial service, strengthen regulation on technology-driven innovations and prevent systemic financial risks, according to the central bank on Thursday. The plan, delivered by the People's Bank of China, listed the key development targets for fintech in the next three years, according to a statement on the bank's website. Fintech will be the "new engine" of high-quality development of the country's financial industry, and a fundamental policy framework for fintech will be set up by 2021. The plan is to promote China as one of the world's leading countries in financial technology, it said.

78.4% of local bond issuance completed