As an important pole in China’s economic and social development, the Yangtze River Delta is of great significance to achieve steady growth, steady employment and steady expectations by orderly promoting the economic recovery and development of the Yangtze River Delta, especially Shanghai< Br>
how can fintech play its role in helping enterprises return to work and production in the face of the urgent need for economic recovery? What policy instruments can help fintech better empower the real economy? Where is the room to improve the effectiveness of fintech applications, and what experiences can be provided for the use of fintech in more general scenarios< Br>
on June 11, Shanghai Huarui bank, together with the International Monetary Institute (IMI) of Renmin University of China and the Institute of financial technology, jointly initiated and established a series of salons. The first issue of the salon focused on “how financial technology can help the economic recovery of the Yangtze River Delta”, and invited a number of experts and scholars to offer their suggestions< Br>
lilihui, former president of Bank of China, believes that in the face of major challenges such as the impact of the epidemic, geopolitical conflicts and the restructuring of the global industrial chain supply chain, the financial industry should further improve the applicability and security of digital innovation, help stabilize growth and promote recovery< Br>
“finance serves the real economy, needs an ecosystem, and needs to realize the organic link between the industrial supply chain and the financial supply chain. This requires accelerating the construction of public data open sharing platform and policy implementation information interconnection platform.” Li Lihui said< Br>
since the outbreak of the epidemic in 2020, the financial regulatory authorities have issued policies for many times to encourage financial institutions to use financial technology to improve their ability to serve the real economy and help small, medium-sized and micro enterprises to get out of trouble< Br>
zhutaihui, a researcher at the Institute of International Monetary Studies, Renmin University of China, believes that regulatory policies help the development of financial technology, and supply chain finance has become a new focus of development. At the same time, the financial technology regulatory policy has accelerated to remedy weaknesses, and the “three-dimensional framework” has become more and more clear: “the licensed supervision of finance, the outsourcing supervision of technology, and the credit investigation supervision of data”. In the current round of policies to stabilize the economy, monetary and financial policies dominate, and the enabling role of financial technology is also emphasized. In the long run, the key to high-quality economic development is to realize the high-level cycle of “science and technology industry finance”, and the digital supply chain financial development promoted by financial science and technology is an effective path to realize the high-level cycle of “science and technology industry finance”< Br>
how can we give full play to the existing advantages of financial technology and help the current national efforts to promote some policies to rescue and stabilize the economy< Br>
chendaofu, deputy director of the Financial Research Institute of the development center of the State Council, believes that for fintech, we can focus on three aspects:
first, we should give full play to fintech’s close contact advantages with long tail customers and inclusive customer groups, especially its close connection with e-commerce, and accurately locate these individuals affected by the epidemic, We will accurately implement the state’s rescue policies for the distressed industries and individuals, keep these very micro capillary entities and jobs, so that the economy of China and the Yangtze River Delta can better return to work and production, and smoothly carry out a virtuous cycle< Br>
second, fintech is the potential direction and important strategic field of future economic development. It can appropriately increase the investment in digital infrastructure, especially some fintech enterprises. In the current difficult period, at the key nodes of the current digital economy construction, they can moderately accelerate the investment in digital infrastructure and stabilize the current investment in China, especially for the network Effective investment in infrastructure that can drive industrial upgrading and contribute to its own efforts< Br>
thirdly, in the field of consumption, fintech has also made a lot of contributions in some past practices. This time, it can continue to play its role in this regard. For example, how to better combine consumer bonds with local consumer bonds in various places in the Yangtze River Delta, and how to effectively promote the stable recovery of China’s economy by combining the credit enhancement, consumer credit and other mechanisms and institutions of fintech< Br>
Yang Tao, deputy director of the national finance and Development Laboratory of the Chinese Academy of Social Sciences, proposed that the healthy financial science and technology ecology should have three important characteristics of relative openness, diversification and intelligent integration. In the development of the financial science and technology ecology in the Yangtze River Delta region and the whole country, we should pay attention to the “5+1” directions, namely, the five levels of foundation, technology, business, customers and supervision, as well as the policies and rules, The environmental elements composed of informal systems such as ethics and culture, specifically:
the first is the basic level. This is closely related to infrastructure construction such as payment and settlement, credit reporting system and data; For the future financial technology ecology and the growth of financial technology industry, infrastructure investment is very valuable and promising. The second is the technical level. The cutting-edge technologies applied in the financial field have their own particularity. At present, there are still challenges in their application. In the future, we should pay more attention to the fields where technology + finance can really be applied, and combine them with specific business scenarios to truly create value for the society. Third, the business level. How to get rid of the “two skins” of technology and business and solve the “last mile” problem of financial technology innovation requires the cooperation and support of local government platforms, as well as multiple intermediary services such as accounting, auditing, evaluation and rating. Fourth, the customer level. According to the commonness and characteristics of enterprises and residents in the Yangtze River Delta, we should make a differentiated layout of financial technology elements and policies. Fifth, the regulatory level. We should focus on the coordination and cooperation between regions and central regulatory authorities to solve problems such as regional differences in new financial risks. In addition, in terms of environmental factors, we should improve policy transparency, coordination and certainty, and improve talent education and training standards.