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China studying blockchain application for forex-regulator

SHANGHAI, Oct 27 (Reuters) - China will further liberalise its capital markets and is studying the application of blockchain and artificial intelligence in cross-border financing and settlement, a senior foreign exchange regulator said on Sunday.

Facebook's plan for Libra has stirred much interest towards digital currencies and China will apply technologies to minimise the cost of settlement while avoiding systemetic financial risks, Lu Lei, a deputy head deputy of the State Administration of Foreign Exchange, told a forum in Shanghai. (Reporting by Samuel Shen and Ben Blanchard; Editing by Lincoln Feast.)