---
title: "Which country's central bank has launched a five-year plan for financial standardization'?"  
description: "Which country's central bank has launched a five-year plan for financial standardization'?"  
author: "Austin Dcruz"  
published: 2022-02-14  
canonical: https://answers.mindstick.com/qa/95811/which-country-s-central-bank-has-launched-a-five-year-plan-for-financial-standardization  
category: "current affair"  
tags: ["current affair", "central bank", "financial standardization"]  
reading_time: 2 minutes  

---

# Which country's central bank has launched a five-year plan for financial standardization'?

Which [country](https://yourviews.mindstick.com/story/3960/muslim-population-by-country-2024)'s central [bank has launched](https://answers.mindstick.com/qa/96196/which-private-sector-bank-has-launched-whatsapp-banking-facility-recently) a five-year [plan](https://www.mindstick.com/articles/23227/how-to-plan-your-website-redesign-for-success) for financial [standardization](https://www.mindstick.com/articles/336616/what-is-feature-scaling-and-its-importance-for-algorithms)'?

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## Answers

### Answer by Stuti Gupta

> **China's four government agencies, including its [central bank](https://answers.mindstick.com/qa/62202/who-was-nominated-to-become-the-first-woman-to-lead-the-ecb-european-central-bank), released a five-year financial standardization plan. The proposal is to be realized between 2021 and 2025.**

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The authorities intend to strengthen standardization in a variety of sectors, including **supervision, risk prevention, [financial](https://answers.mindstick.com/qa/51891/the-board-of-industrial-and-financial-reconstruction-bifr-came-into-existence-in-which-year) technology, green finance, and digital currency,** to develop a contemporary financial standard system by 2025. The **People's Bank of China,** **the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission** collaborated on the publication of the text. \
![Which country](https://answers.mindstick.com/questionanswer/c13f66ff-ea2f-42c8-ac70-b0a1634a88cd/images/d4971167-be85-466b-a1ce-e2b958d8d76c.jpeg)\
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The nation will increase financial risk monitoring and early warning, particularly in online finance. Efforts will be made to guide the **use of [technologies](https://answers.mindstick.com/qa/39691/which-state-recently-signed-loan-agreement-of-usd-318-million-with-world-bank-for-support-in-the-climate-resilient-agriculture-technologies) such as cloud computing, big data, and artificial intelligence.** The use of financial data will be properly managed to **preserve public security, company secrets, and personal privacy.** \
**Also Read: [Which nation's Prime Minister is likely to visit Russia on the first trip in 23 years?](https://answers.mindstick.com/qa/95809/which-nation-s-prime-minister-is-likely-to-visit-russia-on-the-first-trip-in-23-years)** \
Between 2016 and 2020, the **Chinese government** produced 137 national and **[industry](https://answers.mindstick.com/qa/95402/who-has-been-appointed-as-the-president-of-the-federation-of-indian-chambers-of-commerce-and-industry-ficci)** standards in the financial sector, and standardization played an increasingly important role in supporting the real economy, mitigating risks, and furthering reforms.


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