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China to explore the use of Blockchain for financial regulation

China foreign exchange regulator is studying the possibility of using block and artificial intelligence techniques to boost cross-border trade finance and prevent capital inflows, a senior official said Sunday.

Recent discussions about Facebook’s launch plan for Libra, its digital currency network, have sparked interest in Chinese observers who have talked about its potential impact on monetary policy, financial stability and the global monetary system.

“When we have not yet figured out the development direction of a certain new technology, we should pay attention to risk control, which depends on efficient financial infrastructures,” said Lu.

SAFE spokeswoman Wang Chung told a news conference on Friday that the administration would allow foreign non-investment institutions to carry out local equity investments with their own capital as China.