Fanche's opportunities and risks are
in front of the minds of financial sector policy makers these days, and many
are looking forward to encouraging and guide China. China's experience has
shown that players can be transformed into a new, technological-based financial
sector - how to change the risk of paying, saving, lending, investing and
risking yourself. Can be done But this experience also comes with caveats and
caution stories. China's financial participation experience is discussed on the
subject of the new report on the co-author of the World Bank and the People's
Bank of China by the Chinese bank.
The report explains two foot models in
China, which describes both Punch opportunities and risks: (1) Digital payment
providers, and (2) Partner to Non-Banks (P2P) lending platforms.
Nonbank Digital Payment Providers
Ali Baba and Tencent were originally
established as an e-commerce and social network company. But now there are big
players in the market of both retail finance services. This change began with
the integration of payment activists in their current online networks.
Alibaba's first price was Alpey in financial products, which began to
facilitate trust in 2004 and build trust between buyers and sellers in the
online market of Taobao, Alibaba. Similarly, the integration of payment
products in Tencent's social media platform has proven a massive success model
that allows consumers to add social and financial interactions, including
sending gifts or delivery.
One decade fast, and hundreds of
millions of customers now use the payment services offered by non-bank digital
providers such as Alpai and Tenpay, as well as financial products offered by
Anti-Fine A wide range, in which a group of companies is Alpey is a member. Ali
Baba and Tencent were non-bank leaders in opening digital payments. This result
is a dramatic evolution from exposed society in many major cities of China.
Chinese experience shows that the design and supply of modern financial
products can be facilitated by online, network based business model technology,
network effects, big data, and opportunities for cross subsidy.
But while the punch has certainly
improved the availability, convenience and stability of the financial products
for consumers in these major online ecosystems, there is no less consensus in
which non-bank digital payment providers Non-China, "Last Mail" users
have reached China. Users who do not use social media or e-commerce platforms -
can indulge in poor financial benefits, such as poor, rural and elderly -
limited models. The lack of strong data and analysis is another challenge in
determining the river, based on which providers reach "last mail"
users.
In fact, many developments in reaching
"last mail" with basic transaction products have been completed by a
traditional financial service provider. For example, there are approximately
one million third party party retail agents working by the financial service
provider in China, with no other branch branches, with many agents working in
the village. . Of these agents, at least at least digital payment providers
have been set up. Channel transfer and social transformers' channels through
agents also play an important role in reaching outward adults.
In the place of credit, punch
providers have got the same status barrier. New digital credit providers,
internet banks, online micro credit companies (MCSZs), and P2P platforms are
included. Especially, focusing on serving large businesses, bypassing P2P
platforms on key market opportunities to reach credit customers by ignoring traditional
financial services. The P2P lending platform has more than 2000 platforms steam
in Chinese market ten years ago and serves more than 8 million lenders in
China.
Unfortunately, there are many
incidents of consumer infringement in the P2P industry. Many lenders /
investors believed that their funds have been moved to the specific lender or
have been guaranteed by the loan P2P platform - the beliefs, which often were
often wrong. There was also a case of fraud. In a high-profile case, Ezubao was
shut down in the company after 2015, authorities found that this Ponzzi Scheme
is working in which counterfeit investment products were sold almost one
million investors.
These issues were increasingly
expanding by "waiting and see" inactive, Chinese officials used
primarily to respect the new French innovation in place of P2P. By 2016,
Chinese authorities started more active approaches to regulate the POP
platforms, including issuing unlimited rules for the administration
Source Fintech in China
:
4.
SCMP
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