The Prospect of Online Loans – Tsinghua PBCSF Holds 2016 Global Finance Forum Beijing Summit_News_PBC School of Finance, Tsinghua University









Home News Content

The Prospect of Online Loans – Tsinghua PBCSF Holds 2016 Global Finance Forum Beijing Summit


On Nov. 5th, the 2016 Tsinghua PBCSF Global Finance Forum Beijing Summit is held and hosted by Tsinghua PBC School of Finance and Sunshine Insurance Group. Themed “The Prospect of Online Loans”, the Summit invited expertise and scholars from regulatory institutions, industry and academia to join the discussion on how the newly implemented Interim Regulations on Online Loan Agency Business Activities influences the industry, to give analysis on the effective factors of regulation concept and international experience, and to explore the prospect of online loan industry.

Co-organized by NIFR Sunshine Research Center for Financial Innovation and NIFR Fintech Lab, the Summit is joined by Liao Li, Executive Associate Dean of Tsinghua PBCSF and Associate Dean Zhao Cen. Assistant Professor Wang Zhengwei hosted the Summit.

Liao Li made the opening speech. He emphasizes that, The Interim Regulations on Online Loan Agency Business Activities, issued jointly by 4 institutions of CBRC, Ministry of Industry and Information Technology, Ministry of Public Security and National Internet Information Office, is by far the most specified and most strict supervision regulation. The regulation has implemented fair influences on Online Loan platforms, whose future development has drawn attentions among internet finance practitioners.

Li Ke, CEO of Sunshine Insurance Group addressed that, The Interim Regulations on Online Loan Agency Business Activities and The Notification of Special Rectification Work Plan on Internet Financial Risk Management are greatly beneficial to reducing the industry chaos, replacing disorder and creating fairer competition and market order. The clear regulatory concept and management has a positive influence on the industry’s sustainable and healthy development.

In the following keynote speech “Return to Enterprise Credit’s True Value- Views on Fintech Innovation”, Luo Chuan, CEO of Daokoudai, shared the Daokoudai’s operation mode. He pointed out that there was mere difference between the fintech enterprises’ credit extension and traditional banks ’asset preservation. Daokoudai, in an effort, explored the possibilities of movable property credit, which is to raise capital on basis of account receivable or other movable property in financial supply chain, and then to desensitize and fully disclose the information of property owners’. By raising the cost of fraud and the cost of penalty, the action, to some extent, reduces core financial cost for small and medium-sized enterprises.

The CEO of JIMU.COM Xie Qun made a keynote speech on “The Comfortable Zone of Internet Loan”. He believes that China’s internet loan market is just like Mars: the space is vast, but one will still need to find out the comfortable zone to survive. Under the recent circumstances that the MT has replaced the PC to become the main business communication channel, brand building, risk control and operation management are the three important factors for enterprises to find self-positioning and to survive the harsh environment. Under the new regulation, the compliance and orderly development is more important for internet loan enterprises than emphasizing on the company size development.

Through a comparison of internet loan development history between east and west, Yang Jichuan, General Manager of Hfax.Com, made a keynote speech titled “Let the Asset Enjoy Sunshine”. He stated that the internet loan industry has reached the certain stage where there is need to ask where the future of the industry is leading. In spite of different features and main differences of the development and operation mode between east and the west world, financial activities still need to operate under the supervision of varied regulatory institutions, specified according to different business activities.

Yang Yifu, Co-Founder of Renrendai, stated in his keynote speech that internet finance has been over competitive in the past few years, which led to the severe problem of excessive liability. The industry has passed the worst stage. The supervision institutions have implemented more effective regulations to improve the industry’s stabilities.

Zhou Hao, Founder and CEO of Quant Group, made a keynote speech on “Intelligence Driven Consumer Finance”. He believes that there is still vast space for consumer finance. The best means for internet finance company (information agency other than non-credit agency) is to bond with financial institutions, and help to reduce customer cost and fraud risk. Based on the Quant Group’s operation experience in anti-internet-fraud in the customer connection chain, Zhou stated that, it is important for enterprises to bond with financial institutions, and utilize its development under specialized supervision.

To enhance the discussions on the influences brought by The Interim Regulations on Online Loan Agency Business Activities, and the prospect of internet loan, the Summit also organized a round table discussion. Luo Chuan , CEO of Daokoudai, hosted the Discussion, joined by Xie Qun, CEO of JIMU.COM, Yang Jichuan, General Manager of Hfax.Com, Yang Yifu, Co-Founder of Renrendai, Zhou Hao, Founder and CEO of Quant Group, and Zhang Jian, CEO of Sunshine C&G Insurance.

The Tsinghua PBCSF Global Finance Forum focuses on the new thinking, new trends, new practices, and the new dynamics of China’s financial reforms, and seeks to address pressing issues from the perspectives of “China and the World”, “Reform and Policies”, and “Academics and Practices”. Global finance leaders and academics are invited to this forum for in-depth interpretation of the world economic landscape and China’s financial reform, and to find new opportunities for growth in China and the rest of the world.


>Tsinghua National Institute of Financial Research