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The China Banking and Insurance Regulatory Commission (CBIRC) and the People's Bank of China (PBOC) have jointly unveiled the "Implementation Plan for the High-Quality Development of Inclusive Finance in the Banking and Insurance Industries." This ambitious plan aims to establish a comprehensive and high-quality inclusive financial system, fostering common prosperity over the next five years. The plan underscores the importance of refining the inclusive financial service system, reinforcing the inclusive credit system, and enhancing the development of the inclusive insurance framework. By offering multi-tiered and diversified financial services, the plan intends to broaden coverage and accessibility, reduce overall costs, and cater to the diverse financial needs of both the populace and the real economy.
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