Jiangsu Provincial Finance Office: foam unreasonably high interest to say

Published: 8:04:21 2014/12/26 8:04:21  Views: 461

Sina Financial News December 16, Jiangsu Province set up Internet Finance Association, Provincial Finance Office investigation Bin instrument in the first member of the Association General Assembly, said the Internet has become a significant force in the province's financial financial industry, the traditional financial plays important complement and promote hope in future work, to be 'self-discipline', 'risk prevention', 'real economy', 'inclusive finance-oriented', 'innovation' five adhere to provincial Internet Finance Association as a self-regulatory organization and Internet exchanges and cooperation platform for the province's financial industry, to 'be a good bridge,' 'hold order', 'striving characteristics', to promote the province of Internet financial industry in the nation.



Finishing content of the speech is as follows:



In recent years, Jiangsu Province good momentum of development finance, financial organization system continue to improve, maintain a rapid growth in the size of social financing, financial support for the real economy growing. In a good economic and financial environment, the Internet banking is also showing explosive growth, financial institutions licensed Internet-based, P2P lending network, Internet payment, Internet banking, online financial information services and other agencies and formats booming Internet banking has become a significant force in the province's financial industry, the traditional financial plays important complementary and catalytic role.



With China's economy has entered a new normal, in the face of economic and social development in the new situation and new requirements, the Internet and the whole financial sector financial sector should take advantage of the historical trend, seize opportunities, and strive to achieve 'five adhere to.'



First, to adhere to industry self-regulation



The overall development of Internet financial situation is good, but there are not robust, not standardized(http://www.fireinews.com/). In order to strengthen supervision of the financial sector of the Internet, and promote the healthy development of norms, approved by the provincial government, the Provincial Finance Office in conjunction with the People's Bank [microblogging] Nanjing Branch, Jiangsu Banking Regulatory Bureau and other departments led the formation of the Jiangsu Provincial Association of Internet banking, this work is also included in this year's provincial government focus on the task. At present, the association has included a licensed financial institutions, new financial organizations, local corporate financial institutions, online lending platform, third-party payment agencies, e-commerce platform and well-known universities and other institutions.



Our vision is that the general association of Internet Finance Association Unlike Jiangsu Province, one is to be a good 'bridge' industry consensus and unite forces to implement the intent of the government and financial regulatory authorities, and the second is to hold the industry 'Order' oversee the implementation of self-discipline convention, the development of Internet banking industry, especially P2P management approach, forming a hard constraint regulate the development of sound management, third is to strive for Internet banking 'features' to strengthen horizontal cooperation, integration of various resources, inclusive, innovative open to explore new ways to finance development of Internet, new models.



Second, we must insist on the prevention and control of risk



Internet banking is a high-risk industry, financial services will be transferred to the online operation, not only the continuation of the risks inherent in the traditional financial sector, but also due to the real-time online can instantaneously transfer large sums of money, but also the traditional financial industry is facing liquidity risk multiplied. In addition, due to the use of Internet banking network technology, but also generate new risks, such as network security risk, technology risk, operational risk virtualized, highly contagious risk.



Overall, the current situation of risk control of the Internet's financial industry is not optimistic. We must attach great importance to the prevention and control of risk has always been a prominent position. Internet financial companies to follow the requirements of regulatory authorities and associations, establish and improve air control degrees(Finance News http://www.fireinews.com/). To build a framework that contains the information disclosure management, risk, financial and other aspects, strengthening risk warning, to enhance network security management, network information system strictly do encryption, backup, firewall, etc., the better the risk barrier.



Third, we should insist on serving the real economy



And traditional finance compared to 'virtual financial' feature of Internet banking is more obvious, but the Internet imaginary financial enterprises must have real, real virtual work done, with actual situation. To fully study situation in the province, to connect Jiangsu Province industrial development strategy, increase of new materials, environmental technology, technology companies, corporate culture and other emerging industries support, to the depth of cooperation with the province's e-commerce platform to support industrial restructuring, promote economic restructuring and upgrading, to prevent idle funds, raise funds efficiency, allowing more effective capital flows to the real economy, to play close to the consumer's advantage, to carry out personal finance and consumer credit business, to put an end to short-run, quick success, anxious state of mind, to ensure the business to do a solid, steady done.



Fourth, we must insist on an inclusive financial guide



And traditional financial institutions 'tall on the' image of different Internet banking originated in the private sector, rooted in the network, is the 'grassroots finance', 'private finance.' From the theoretical foundation, the traditional financial applicable to 'Pareto theory', Internet banking is the 'long tail', from a practical point of view, the Internet banking system through the network, does have lower transaction costs, expand the service groups.



Internet finance root causes, theoretical basis and practical features, determine its inclusive finance properties. Therefore, the development of Internet banking should adhere to inclusive finance guide, increase small and micro enterprises, science and technology enterprises, agriculture, and people's livelihood Financial support to socially vulnerable groups, to meet the different needs of diversified financial services sectors. from the 'small office' to proceed, providing wide coverage for small customers, fast and efficient lending, insurance, funds and other financial services, would like to unreasonable 'bubble high interest' to say no, to take effective measures to reduce financial costs, cost of capital down, customer groups multiply good situation, truly, Pratt & Whitney majority of SMEs.



Fifth, we should adhere to innovation



Internet banking is itself something innovative is the 'Internet' + cross-border integration, 'finance', but now part of the Internet banking business just two simple additions made, that is a financial services from the line moved online No further processing, not their own innovations, such as a few companies, which long-term development of the industry at a disadvantage. But the province also has a successful model, such as the country's industry-leading open P2P Xin loan to support the real economy as the fundamental purpose of creating a licensed financial institutions, the new multi-level cooperation between financial institutions model to achieve a variety of elements of banking, small loans, insurance, and other complementary platform, launched the country's first business model and business technology. Currently Open Xin total turnover of over 6 billion loan, cash 35 million does not appear a poor, with good growth and sustainability.



Internet banking companies to develop, is to constantly innovate, to create its own core competitiveness. Jiangsu launch Internet financial innovation have a good foundation, urban fiber coverage, the number of Internet users, electronic information product manufacturing industry, among the nation networking industry, e-commerce platform, the number of SMEs many local corporate financial institutions Type Full, strength, good financial environment across the province. To always think about what kind of real economic needs, what our own resources, others take advantage of what can be integrated resources? According to this line of thought to cross-border integration, we can form a new business model, we can create new financial products.









Article Keywords: SME Internet Investment Financial Reform






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