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⍰ ASK How does the Chinese government encourage innovation and competition among electronic money institutions while ensuring consumer protection?

China's government is all about making things happen in the world of electronic money. They set rules that let companies try out new ideas in a safe space called a sandbox. Big shots like the People's Bank of China and the China Banking and Insurance Regulatory Commission keep an eye on things to make sure everything stays cool.

The government also likes seeing new players join the game. They hand out licenses, giving the green light for more companies to join in. This not only keeps things fresh and exciting but also gives people more options for money things. It's like a big playground for electronic money, with rules to keep it fun and safe.
 

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