IT Leader Pull Over Internet Financial Regulation

Discussions on disputes between Alipay and banks are continuing, and let Alibaba chairman Ma Yuncheng focus on the industry. Although in the 2014 China (Shenzhen) IT leaders summit, Ma Yun cancelled the established dialogue with Li Xiaojia, President of the Hong Kong stock exchange, only as a guest attending the meeting, he also deliberately kept a low profile in the process of participation, and still couldn't stop the media and industry people from catching up with him.

Alipay and bank disputes behind the hot Internet banking has also become the 2014 China (Shenzhen) IT leaders summit to discuss key topics, including CICC CEO CEO, HKEx President Li Xiaojia, Jinsha River venture director general manager Ding Jian, chairman of Digital China Federation Wu Yinggong, with the discussion of Internet financial supervision and other issues, all believe that Internet finance should be tolerated.

Ding Jian said in dialogue that tradition Financial institution We should not point our finger at Internet finance. Wu Ying bluntly said that the four lines were premeditated and organized to crack down on private enterprises. No one believed that banks were innocent. "I can only say that the four lines are too dark."

Zhu Yunlai pointed out that the current bank and Alipay The conflict between enterprises is more than that of Internet financial innovation in China. The traditional financial industry should focus on how to establish a more effective and complete financial system.

Li Xiaojia on traditional finance and Internet Financial contradictions put forward solutions to the problem, saying that they should be "famous, sound and rational. He further explained that the top-level design of supervision should be famous. If the initial motive is to threaten the security of the financial system, it will be generous to speak out; the commercial interests between the intermediaries should be reasonable, do not fight the public opinion; the basic level institutions and user services should be organized, and do not kill the financial innovation with a single stick, and do not take away the benefits of the ordinary people.

　　 The essence of disputes between banks and Alipay is the dispute of interests.

In Ding Jian's view, the current conflict between Alipay and banks is more like "adults" and "children" fights. "Children" do not harm adults in essence, but they do not know the importance of hitting the "adult" pain point, so that "adults" find out "early cancer". Fortunately, a vicious accident is avoided, and this problem is far more serious than Alipay and bank disputes.

Ding Jian pointed out that the current distorted financial system is so fragile that it can not tolerate the degree of "small child" giving out a small punch. When the financial system may have to accelerate reform and break away from the crisis, it needs to clear the "cancer" existing in the financial system.

"I hope this will enable the Chinese banking system to shake off the crisis and correct its problems, instead of letting the people, private enterprises and the Chinese economy pay for such monopolistic behavior." Ding Jian said that Internet companies should also improve and upgrade the Chinese Internet industry in the industrial Internet age at the height of win-win cooperation, instead of moving to the opposite direction and being counteracted by competitors.

For this internet financial turmoil, Li Xiaojia pointed out that almost China's banking industry development, China's Internet development, China's economic reform process many do not want to do or relatively difficult to do things, suddenly through the storm before the people, many problems suddenly sharpened. In this process, the parties must distinguish clearly the difference between the core of the problem and the "smog".

In Li Xiaojia's view, the dispute surrounding finance and the Internet is a big game, which can be analyzed from 4 levels. The first level is the financial Internet ecosystem. Payment and credit are the most important parts. In the past few years, the traditional banks have not set foot in the grass-roots payment system, and the services for SMEs are not in place. This piece relies entirely on the innovation of private enterprises.

The second level is the interest pattern of the Internet, other new economy and the existing financial system. The third level is the security and risk level of financial institutions themselves. The highest level is the risk of the entire financial system. If there is a risk in the financial system, it must be regulated.

Li Xiaojia believes that the current nature of the dispute between the interests of Internet companies and traditional banks, banks mainly from the common people's funds are not safe, stolen from the perspective of how to counter Internet banking, banks in the interests of the very easy to find moral heights. But these moral heights have been mistaken. People do not understand that things are getting mixed up.

"It is reasonable to say that the underlying system has been built, and there are so many problems that there are so many problems with old things. There are many frauds in securities, so we can't stop because of fraud. " Li Xiaojia believes that banks are more competitive in third and fourth aspects. Banks should clearly indicate that funds are taken away by the balance of treasure products, which are likely to trigger bank liquidity and systemic risks.

More importantly, the balance treasure is also like a disobedient "child". Not only does he follow the "adult", but also recruits 100 9 year old "children" to oppose it, which may make adults unable to stand up.

In this regard, Li Xiaojia pointed out that banks should be tolerant of the phenomenon of Internet finance, because the domestic license restrictions, Yu Ebao can not attract 100 9 year old "children", the most in the bank's home before pulling the tent, do some group buying, banks need not take serious measures, like the "big man" has cancer, should go home to see a doctor, at the same time, "children" show mercy.

Zhu Yunlai also said that China's financial system is inefficient and its system construction is incomplete, and there are always some major potential risks. It will take time to solve these problems, but as long as they do not violate system safety, every service provider will have fair competition.

　　 Banks seek common ground with Baoying.

Tolerance of Internet banking is not deregulation. Zhu Yunlai pointed out that Internet finance needs systematic system design and system construction. Banks are not immortals, they can not afford to pay money. They should lend money and lend money to companies that are creative and create profitability. Enterprises need time to earn money. According to different purposes, some money may be lent for three years, five years, ten years, and twenty years. Without this long-term process, new money can not be generated. Overdue demand deposits can not and should not have high interests.

The biggest feature of Internet finance is ubiquitous and ubiquitous. The Internet can easily realize 500 million or 1 billion customer withdrawals. If 500 million customers tend to behave in the same direction, if they encounter emergencies, even if the daily quota is quickly withdrawn ten thousand, it is also the impact of 5 trillion systems.

Zhu Yun said, the Internet system can not be completely independent, but also with the traditional banking system interface, the traditional banking system accounts payment, delivery need physical processing time, without these matching, the Internet financial system will be very unsafe.

From the practical level, banks and Internet finance are not necessarily conflict. Li Xiaojia pointed out that Internet banking is something that banks can not do and do not want to do, and banks do not object. Banks can barely tolerate money from banks without affecting the fundamental interests of banks. Now banks feel that Internet finance affects their fundamental interests, especially if banks can export them, which will affect national financial security.

Li Xiaojia said that this led banks to launch, and regulators will also launch. At present, Internet banking needs to maintain a balance with banking relations, and it is also the key to solve conflicts. For example, through financial Internet services to SMEs, people, create value for them, and let banks get benefits from it. Internet banking will then go to the banking system to attack, and push banks to constantly discover their own problems, recognize their own problems, and innovate and reform. This is very important for Internet Finance and can not touch the bottom line.

Banking and Internet finance will not necessarily replace the relationship. Wu Ying said that when WeChat was just beginning to rise, many people worried that WeChat would have a great impact on the SMS company's business, because a lot of people's messages were replaced by WeChat, but the real situation is that WeChat really replaces SMS, because SMS guarantees 99.99% guarantees, and the security of SMS is very high. Many times it is confirmed by SMS.

Wu Ying pointed out that there can be good cooperation between banks and Internet banking, such as tens of millions, tens of millions of financial services should be done by big banks. Because banks have a sense of risk control. But Internet finance can start from a small place, starting from 5 or 100 thousand, and do not need to make any mortgage. After analyzing micro-blog, WeChat, wage groups and normal behavior, it can lend him 100 thousand yuan in one second, and users do not repay money very little. Therefore, Internet finance has many things to do.

In fact, Alipay's attitude has eased up compared with the tough call of Ma Yun before the four big companies. Small and micro financial services group CEO Peng Lei said that the balance of treasure is not Alipay strategic class products, but to allow users to put in Alipay's balance by investing in the money fund to get a little income, return to the beginning of the balance treasure, it has never been to subvert or defeat.