Big-data-based reform to facilitate China’s economic restructuring

China’s financial reform accelerated after a package of policies were unveiled to offer guidance to facilitate economic restructuring. The success of the reform may rely on big data technology, experts have said.
Big data technology has contributed to the development of internet finance, easing financing difficulties, boosting information consumption, aiding private capital to support the real economy and controlling financial risks.
“Big-data-based financial practice means recognizing information value and improving insight of consumers’ needs by production, exchange, management and application of data,” said Tian Guichang, a big data scientist with Beijing JinLongCai Tech&Trading.

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