China BXIT

In July 2013, with the approval of the State Council, China Banking and Insurance Information Technology Management Co., Ltd. (hereinafter referred to as China BXIT) was officially registered and established, with a registered capital of 2 billion yuan and headquartered in Beijing, directly administered by the National Financial Regulatory Administration. China BXIT is mainly responsible for building and operating a unified national information-sharing system for the banking and insurance industries, providing services such as transaction support, data governance, risk management, technology support, and registration, verification, actuarial, and consulting services. As of now, China BXIT has 3 branches, 1 office, and 1 subsidiary. Since its establishment, under the leadership of the National Financial Regulatory Administration, China BXIT has pursued high-quality development through high-quality Party building, remained true to its original aspirations, and fulfilled multiple missions including serving industry development, supporting banking and insurance regulation, protecting financial consumers, and assisting social governance. Relying on intelligent comprehensive digital information infrastructure and a secure, controllable, stable, and reliable security system, China BXIT has actively utilized modern information technologies such as big data, cloud computing, artificial intelligence, and blockchain to successively build more than 10 information-sharing platforms of production support, business registration, and thematic application types, and more than 100 systems of various kinds, developing the management and support capabilities of large-scale production systems, as well as capabilities in centralized big data management, unified application, in-depth mining, and value conversion. Proceeding from the rich application scenarios and common development needs of the banking and insurance industries, China BXIT has actively explored information-sharing models within the banking and insurance industries and across industries, fully tapped data value, extensively connected industry institutions, and worked with all parties to build an open and integrated new fintech ecosystem. Its services cover areas such as rural inclusive finance, the automotive industry ecosystem, the big health industry, risk control, financial compliance, and information technology services, helping banking and insurance institutions prevent and resolve financial risks, empowering the digital transformation of the banking and insurance industries, and advancing the modernization of social governance. China BXIT will continue to thoroughly implement the new development philosophy, continuously deepen reform, accelerate innovative development, optimize its business structure, conscientiously fulfill its two responsibilities of serving regulation and serving the market, develop more technology products and digital services that are close to regulation and meet market needs, and contribute to building a Digital China.