A new report from the New York Times says China is developing a “smart” banking system, which it claims could enable banks to compete against one another for customers, make financial transactions more efficient, and help them reduce risk.
The report, by the Asia Society and the Center for Strategic and International Studies (CSIS), notes that “Chinese banks are moving ahead with a variety of new technologies, including digital technologies that enable them to better monitor customer behavior and provide better information on financial products and services.”
The new digital technology is expected to significantly improve financial services, and Chinese banks have made substantial investments in their systems to improve their ability to handle such transactions.
China has also been investing in cybersecurity.
Last year, the Chinese government issued a cybersecurity plan, and it said that cyberattacks against the country would increase to “critical levels” if not cut.
And last year, China reportedly conducted cyberattacks on the U.S. National Security Agency (NSA), as well as on major U.K. banks.
In both cases, the reports points to an aggressive effort by Beijing to gain control of its economic, political, and military spheres.
In terms of the report’s predictions, China has a number of reasons for its cyberattacks, but one of the biggest concerns is the Chinese Communist Party’s ability to control information about how it does business.
China is one of two main global players in the banking industry, and the country has been aggressively trying to control its own business and industry.
China’s efforts to control banking in the past decade have included creating a national banking regulatory body, which is tasked with overseeing the country’s banking sector and has been accused of making arbitrary decisions that affect both the country and its banks.
Last month, Chinese state-run media published a statement saying it had taken steps to make the financial sector more efficient and to improve financial technology.
“We have made significant investments to modernize and modernize financial technology, to reduce the impact of the cyberattack on financial institutions and to develop a new financial infrastructure,” the statement read.
“Our goal is to build up a strong financial sector and create more stable and stable financial conditions, so that we can provide a safe, reliable and secure banking environment.”
The China-led push to consolidate banking in China also has been linked to a wider effort to reduce reliance on foreign financial institutions.
As the WSJ points out, China “has long relied on foreign banks for nearly all of its credit-card and other financial transactions, and China is a major financial hub in the Asia-Pacific region.”
The report also says that China is “developing and testing a number different technologies to make its financial system more efficient.”
For example, it says, China is working on an advanced virtual machine technology that will enable the country to conduct its own blockchain system for its financial systems.
And in the U, China’s government is trying to create a “virtual bank,” which would allow the country more control over the money it holds.
The report also suggests that China’s banks are investing in financial technology to protect themselves from potential cyberattacks.
China “is currently investing heavily in the development of advanced cybersecurity technology, such as advanced encryption technologies, and other technologies to improve the reliability and resilience of financial systems, and to increase financial security,” the report reads.
“China is also actively promoting a number cyber-attacks prevention and detection strategy to safeguard the nation’s financial system from cyberattacks.”
Meanwhile, in terms of what Beijing could gain from its cyber capabilities, the report also said that China has been investing heavily to develop its own cybersecurity technology.
It notes that China “conducts extensive research on the development and production of advanced computer networks, including the development, testing, and use of advanced technology” and is “firmly committed to the development” of “advanced cybersecurity technologies.”
The WSJ reports that China also is developing “computer networks that are able to process and store information, which could allow the Chinese Government to better protect itself against cyberattacks from foreign intelligence services and other hostile actors.”
In a statement, China said that “the Chinese Communist party and the Chinese People’s Liberation Army (PLA) will not allow foreign countries and the private sector to become the main players in financial services.”
The WSJ also notes that Beijing has recently announced that it plans to invest $1.2 billion in blockchain technology, a project that is “aimed at transforming financial systems.”
As the WSJB points out in its coverage of the article, the news comes at a time when China is increasingly under fire for its human rights record.
Last week, a government watchdog organization called the Center on Global Integrity released a report that found that China detained at least 30,000 dissidents over the past year.
The group also said China had detained nearly 300,000 people in 2014, the most recent year for which it had official data. The