The Chinese approach to FinTech risk governance
Wangyan Chen
Anhui University of Finance and Economics
DOI: https://doi.org/10.59429/bam.v8i2.14526
Keywords: financial stability governance; financial technology (FinTech); risk prevention and control
Abstract
Driven by emerging technologies such as artificial intelligence and big data, the rapid development of financial technology (FinTech) has not only injected innovative momentum into financial markets but also posed new challenges to financial stability and regulatory frameworks. In response to these dual effects, strengthening FinTech risk prevention and control is both a strategic imperative for enhancing China's international financial competitiveness and an essential requirement for promoting high-quality economic and social development. From the perspective of financial stability governance, effective FinTech risk management should be guided by a coordinated "three-dimensional" framework. First, at the conceptual level, a dynamic balance must be maintained between technological innovation and risk control. Second, at the institutional level, financial regulation should be organically integrated with technology governance. Third, at the implementation level, an efficient coordination mechanism should be established, combining centralized policymaking with local execution. By improving the legal and regulatory framework governing FinTech and optimizing the design of supervisory mechanisms, China can explore and develop a distinctive approach to FinTech risk prevention and control that reflects its institutional characteristics and governance needs.
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