The Standardization Administration of China (SAC) recently unveiled the 2022 National Service Standardization Pilot Projects, among which Beijing Fund Town (BFT) was the only one of its kind in the fund industry upon expert review.

President Xi Jinping said, "Standard dictates quality. High quality is impossible without high standards. China will actively pursue the standardization strategy." In 2021, China issued the National Standardization Development Outline in light of national conditions, global developments and future needs. The Outline propose to improve and promote standards on financial technologies, products, services and infrastructure as a way to effectively prevent and defuse financial risks. In August 2022, the SAC publicly solicited national service standardization pilot projects across the country, in an effort to thoroughly carry out the Outline, consolidate what has achieved in developing the pilot program, and enable standardization to play an exemplary, leading role in continuously fueling high-quality development of the service sector. Finally, 10 projects were included in the pilot program upon local recommendation, defense and review, and public notification for advice. BFT became the only national service standardization pilot project of the fund industry.

Having passed the SAC review and acceptance check with a high score in 2019 and become a national service standardization pilot project of the fund industry lately, BFT has made continued efforts to improve the service standards of the industry and strengthen the implementation of such standards by fund institutions, with a focus on "standardized management, strict risk control, targeted services and brand upgrading," with 171 standards updated and refined, which reflects the industry's services and management characterized by "risk control as the basics, scientific guidance as the goal and digital services as the direction." BFT has also actively carried out activities to standardize services, been engaged in the development of national standards, and contributed to improving industry influence and satisfaction with services, with good economic and social benefits. As of December 31, 2022, BFT had served more than 2,000 fund and associated institutions along the industry chain, staged more than 900 standardization activities, and covered an audience of more than 25 million in its investor education.

A person in charge at BFT said, as a national service standardization pilot project of the fund industry, BFT would focus on the core goals of fund institutions, such as "effectively preventing and defusing financial risks" and "protecting the lawful rights and interests of investors," and leverage BFT's national Investor Education Center and specialized fund service cloud platform to establish itself as a standardization base in terms of selective presentation, practice and verification, innovation and research and publicity and training. On this basis, BFT will consolidate pilot lessons and results across the board, enable standardization to continue to play a supporting and leading role, systematically integrate service resources of fund institutions, regulate their service offerings and reinvent investor education service models, provide experiences replicable, scalable across the industry and country, play a pioneering role, help boost the comprehensive service standard of China's fund industry, and contribute to the industry's high-quality development in the new era.