How to Promote the Healthy and Standardized Development of Internet Finance

From the domestic practice, the main forms of Internet finance include online banking, online sales of financial products, third-party electronic payment, online sales of insurance, online micro-loans, etc., such as P2P online lending platform, Ali's "Yu 'ebao" and He Xun's "Assured Insurance". The unique advantages of internet finance will have a far-reaching impact on the competitive behavior of traditional commercial banks, and play a catfish effect in the long-term development of the banking industry, including changing the traditional profit model of banks, adjusting business structure, changing customer base, improving service level, and establishing and introducing new information management systems. However, the blowout of Internet finance also exposed a series of problems such as lack of supervision and information leakage. Therefore, while bringing people a lot of convenience, Internet finance also needs to be supervised to prevent possible risks and promote the healthy development of Internet finance. Accelerate the legislation of Internet finance. At present, China's financial legal system generally pays insufficient attention to Internet finance, a new financial format. There is no law specifically targeting Internet finance except the Notice on the Risk Warning of Renren Loan issued by CBRC 20 1 1. However, the development speed of internet finance has far exceeded expectations, and there are many risks hidden in its development process. If there are no legislative norms, it may cause greater risks. Therefore, it is suggested to fully consider the characteristics of Internet finance and speed up the construction of laws and regulations related to Internet finance. First, we must speed up the construction of basic laws and regulations on Internet finance. We should sort out and improve the current laws and regulations on Internet finance, define the existing problems of Internet finance from the legal level, and determine the development direction of Internet finance, including defining the scope of Internet finance, setting a higher industry entry threshold, and standardizing the trading behavior of market participants. The second is to revise and improve the supporting legal system of Internet finance. Amend and improve the supporting legal system of Internet finance such as personal information protection, refine the legislation on the framework and principles involved in promoting the development of Internet finance, and systematically construct the supporting legal system related to Internet finance. The third is to formulate departmental regulations and national standards related to Internet finance. Formulate departmental rules and regulations related to Internet finance, issue guidance documents and national standards for online financial behavior, and provide specific normative guidance for online financial platform operators, lenders, borrowers and other relevant participants. Strengthen Internet financial supervision. As a new financial model, Internet finance cannot be completely covered by the existing financial supervision system, and there is a certain lack of supervision. For example, the Internet finance business of banks is regulated by the China Banking Regulatory Commission, and small loan companies represented by Ali Finance are regulated by local governments. Renren loan business represented by CreditEase and electronic payment business represented by Alipay have no clear supervision department, and mainly rely on industry self-discipline. Therefore, we must improve the supervision mechanism of internet finance as soon as possible to ensure that it can fully curb innovation and ensure that supervision is in place. The first is to clarify the regulatory subject of Internet finance. It is suggested that the business scope of various Internet finance enterprises should be reorganized in combination with the new situation of Internet finance development, and the corresponding Internet finance enterprises and Internet finance business supervision departments should be defined on this basis. The second is to emphasize the off-site supervision of Internet finance. With the deepening of internet finance and the virtualization of financial transactions, it is difficult to define the transaction object, and at the same time, the transaction time is shortened and the transaction frequency is increased, so it is difficult for on-site inspection to play a greater role. Therefore, we must pay attention to the wide application of off-site technology in Internet financial supervision. The third is to establish an internet financial risk monitoring and early warning mechanism. At the same time, considering that the Internet finance industry has the characteristics of relatively intensive technology, numerous participants and cross-regional development, once it is caught in illegal fund-raising, it may lead to social problems with stable relations. Therefore, it is necessary to strengthen the research and monitoring of the industry, form a certain early warning mechanism and formulate emergency response plans. The fourth is to strengthen international supervision and coordination. Due to the fuzziness of internet finance to the region, it is necessary to strengthen cooperation with financial regulatory authorities in other countries and implement unified supervision of transnational internet financial transactions. Improve the supporting credit information system of Internet finance. Because the credit information system associated with internet finance is not perfect, the whole internet financial platform contains a lot of financial risks, especially for P2P industry, the acquisition of credit information is the biggest problem at present. At present, the sources of credit information are often obtained from the central bank's credit information center and the small and medium-sized enterprise center of the industrial and commercial bureau. However, these traditional credit information systems are generally difficult to cover the complete and specific business activities of enterprises and have limited functions. Therefore, the construction of credit information system should be improved. First, it is necessary to establish a credit information system covering the whole society, and provide this quasi-public product to relevant stakeholders with creditor-debtor relationship, which can effectively reduce audit costs and bad debt rate and protect personal privacy. It is suggested that the central bank borrow Internet data to innovate credit reporting methods, and bring the credit information generated by the Internet financial platform into the collection range of enterprise and resident credit reporting databases, so as to provide positive services for Internet finance. Second, it is necessary to form an internal credit information system in the industry, connect with the entire external credit information system, and share relevant credit information data with * * * *. For SME credit, the real-time operation data of some e-commerce platforms is the best credit proof; For personal credit, you can access personal credit card usage information. Pay attention to consumer protection of internet finance. The convenience of internet finance makes everyone become a consumer of internet finance, but the inherent complexity, diversity and professionalism of financial transactions still exist. Combined with the high-tech Internet industry, it is more difficult for financial consumers to accurately understand and master Internet financial products and services, which makes the risks such as transaction security, personal information disclosure and capital loss increasingly exposed. Therefore, we should pay more attention to the protection of the rights and interests of financial consumers. The first is to establish a coordination and cooperation mechanism for consumer protection.