Fintech, green finance to boost transformation of banking sector: report

Source: Xinhua| 2020-10-05 13:27:34|Editor: huaxia

BEIJING, Oct. 5 (Xinhua) -- The development of fintech, green finance and new business forms will help boost the business transformation of the banking sector, a report released by the Bank of China said.

Beefing up green finance will help the sector further optimize its asset structure and achieve diverse development, said the report.

In addition, the banking sector should tap into the general trend of the digital economy, leverage new leading technologies such as blockchains, big data and cloud computing as well as promote online payments to satisfy new consumer demands.

The running of the banking industry is expected to be more prudent on the back of the steady economic recovery, the report noted. Enditem