Technology is good, Internet finance is good, it is just a statement, we hope it will play a better role.
Now, when people talk about financial technology, they think of cash loans. In the past three years, 90% of financial technology and cash loans have been related. For the public, P2P will be thought of. P2P has been rectified since last year. From 4,000 to more than 800, it has cut 80%. Last week, Caixin published an article called “Where is Lu Jin?” Lu Jin should be China’s largest P2P, super unicorn, but recently announced the abandonment of P2P business.
Off is not an end. What we should reflect is not how much damage and impact P2P has caused, but why is P2P so surging in China overnight? Does P2P improve financial efficiency, and people who need money can get money?
P2P is so turbulent because there is a huge demand. This demand is a flood of beasts. It is unstoppable. If there is no deep reflection and adjustment, it will return.
The phenomenon that is very strange in China is that 15% is not called usury, what kind of company can earn 15%? How many investors can achieve a return on investment of 15%? What does this air-to-air funding cycle mean? What is the impact on the economy and society? This is a question that we should reflect deeply.
The impact of technology on finance will be reflected to each of us. When I was a president of a securities company, an important indicator of the assessment was the increase in the proportion of online transactions of branches every year. Today, basically all transactions are conducted online. Who else goes to the sales department to see big-screen stocks? This is the impact of technology on finance.
Mobile payment is also a very great example. Mobile payment China is more than 100 times that of the United States, which makes Chinese people step by step through the credit card era. Our ability to overtake in such corners is great, and this is the most direct impact of technology on finance.
Predicting the future, if you only let me say The impact of a technology on finance is digital currency. Whether the central bank recently said that it will implement digital currency in November or the stable currency pushed by Facebook, this thing will be unstoppable, but the Chinese financial system is still in its original stage. But I believe that time will change.
We have to believe that the market will play its role. The financial system capital market will be more open, transparent and more accessible to the general public. These are not difficult to handle. It is difficult to do the entire bank’s circulation system. How to improve the efficiency of fund allocation.
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