Xie Ping: Internet Finance Is Difficult To Regulate Because There Are Too Many Crossover

Boao forum for Asia annual conference 2015.

In the sub forum entitled "Internet + Finance: self discipline and supervision", Xie Ping, deputy general manager of China Investment Co, said that Internet finance was difficult to regulate because of cross-border, securities, banking, insurance and consumption.

Statement:

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This case can also illustrate a very interesting situation. We have some low cost in Internet finance, for example, artificial, so there is a competitive advantage.

The results can be made a lot, because P2P is

Finance is entirely personal to individuals, perhaps regulatory authorities only allow natural persons to natural persons.

But like him, the Internet is on the Internet.

Among them, individuals, individuals, institutions, institutions, individuals, wealth management loans or semi wealth management, semi securities, semi loans, that is, giving people multiple business space, which is also very interesting.

It is because of your behavior that the CBRC does not know how to supervise.

Counting deposits, counting loans or counting securities? This is also the most interesting part of Internet finance. It has crossed the border.

Why is it difficult to regulate? Because cross-border, securities, banks, insurance, consumption, and finance all cross the boundary, so this problem exists, which makes our country study and Research on this issue.

Originally this group is Liu Shiyu's group leader group, and now he has gone to the Agricultural Bank of China, so Internet finance is very magical.

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In this year's government work report, Internet finance has been described as a new force, and it calls for the healthy development of Internet finance.

With the establishment of the balance treasure as the symbol and the year 2013 as the first year of Internet finance, the ferocious momentum of its development is beyond the expectations of the market and people from all walks of life and various departments including regulators.

On the one hand, it shows that Internet finance is born and developed in accordance with the market. On the other hand, it shows that Internet finance has strong vitality and growing space.

Internet finance, known as grass roots, has played a major role in alleviating unfair distribution of social financial resources and solving the financing difficulties of small and micro enterprises.

At the same time, the "sudden emergence of Internet finance" has brought a shock to traditional finance, including banks. This kind of impact is even revolutionary and subversive. It is forcing traditional finance, including banks, to accelerate the pace of reform.

Then, how can traditional banks, including large banks, deal with the impact of Internet Finance? The most effective way is to "touch the net" and embrace Internet finance.

Large banks have natural advantages in Internet banking.

Capital strength is its primary advantage.

The essence of Internet finance is to effectively acquire the credit status of financial paction objects by means of data mining and analysis functions on the Internet.

Whether it is an enterprise legal person or a natural person, its footprints on the network can be recorded, captured, analyzed and excavated.

The key is that the data of the financial paction object on the network are effective and complete in analyzing and judging their credit status.

What data are effective? Such as Tmall, Taobao, Jingdong and other e-business platforms, the large data accumulated by the financial resource needs of enterprises and individuals on their platforms are complete and effective from production, circulation, inventory, sales, capital flow, cash flow, and financial flows.

At present, the large data accumulated by banks, including large banking systems, is only the wealth and financial data of the end result of the operation.

It is incomplete or even invalid to obtain the credit situation.

This is the fundamental reason for ICBC and CCB to build their own e-commerce platform.

Large banks, with their strong financial strength, strive to build e-commerce, as the basic platform of Internet finance, to cultivate and stick to customers from the footprints left by customers on the platform, analyze and excavate their credit status, and finally provide quick financing pactions such as loans and financing without collateral, which is completely correct.

At present, the Construction Bank's good fusion business, ICBC's "fusion e purchase" business platform, "fusion e union" instant messaging platform and "fusion e line" direct banking platform's three platforms "e-ICBC", as well as Ping An Bank, China Merchants Bank and other joint-stock banks' e-commerce platform, although are just starting, but the momentum is good.

In particular, ICBC has not only acted as an e-commerce platform for "e purchase", but also acted as an instant messaging platform for social media similar to WeChat's "e fusion".

It is evident that ambition is great.

Traditional commercial banks' access to Internet Finance includes three ways to build their own e-commerce platforms, cooperate with existing large scale e-commerce platforms and acquire existing electronic business platforms.

It seems that large banks with big money are still building their own way by virtue of their financial strength.

Of course, the biggest advantage of traditional banks lies in their rich experience in financial management and financial talent.

This is a big business platform.

Finance is a high-risk industry, and wind control is the key.

The absolute advantage of traditional banks in financial risk control is the natural protection of Internet finance.

However, there are also unfavorable factors for large banks to get involved in Internet banking.

The biggest problem is the problem of ideology, that is, the understanding of Internet finance.

Conservative traditional banks, especially large banks, accept new things, especially the new Internet thinking. New finance tends to be relatively slow, even hostile and hostile.

This is the first pass for traditional banks to do well in Internet finance.

The success of big banks in building their own e-commerce platform is also variable.

At present, the e-business platform has been monopolized by large private enterprises. According to the theory of economies of scale, it is very difficult for large and powerful banks to build new business platforms and squeeze into the market.

Once a huge amount of money is invested, the number of customers on the line is limited or the data accumulated are incomplete and can not be used.

At the same time, it is doubtful whether traditional banks will be sustainable in the big and whole mode.

I still prefer large banks to Internet Finance and take the road of cooperation with large business enterprises.

Large banks make use of the large data accumulated on the platform of large business enterprises, which is an efficient way to save time and effort.

Of course, the difficulty lies in whether the big banks can lay down the "big shelf" and negotiate with large business enterprises, and the two sides moderate profits.