The province will provide more convenience and better services for the development of cross-border e-commerce, said Sheng Qiuping, director of the department.
The rapid expansion of the P2P sector is also supported by the rising financing demand of the small business owners and individual borrowers who are often neglected by the big banks. The P2P platforms have plugged the financing gap in China's underdeveloped consumer credit market.
The railway was listed as one of the 15 key infrastructure projects that Shanxi will push forward this year, according to a government notice released recently.
The reform also helped create a win-win situation for everyone concerned, Xu said.
The public has until Jan 27 next year to give suggestions on the revised rules, the CBRC said.
The public has until Jan 27 next year to give suggestions on the revised rules, the CBRC said.
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The rail link is set to shorten the travelling time between East and West, from seven to 12 hours to less than four hours.
The prototype technology will allow users access to competitive foreign exchange rates quoted by participating banks in the cross-border corridor network, and this technology also provides automated tools for liquidity management to smoothen the payment process, such as transaction queuing and netting, token conversion and borrowing arrangement from other participants in the corridor.
The province has outlined a plan bench marked to World Bank standards that includes 40 innovative and pragmatic measures, such as significantly streamlining administrative approval procedures so that businesses can complete registration and licensing and get permission to operate within three days.
The province incorporates Big Data projects in urban planning and annual planning for land use, and offers broadband rent subsidies to Big Data companies, according to the provincial big data group.