With the development and application of a new generation of information technology, the financial industry is striding into the era of financial technology, and financial innovation usher in a new starting point. At the same time, the report of the Nineteenth Congress proposed that a sound financial supervision system should be established to protect the bottom line of systemic financial risks. How to better play the positive energy of financial science and technology and create a new era of innovation and supervision of the new era, technological advancement and risk prevention of the new relationship has become a topic of great concern to the entire society.

In order to better adapt to the regulatory environment, clarify the development trend of financial technology, and promote the positive effects of financial innovation, on December 9th, Annual Report on China’s Fintech Development(2017) and Annual Report on China’s Asset Securitization Development(2017) were published. The conference was held successfully in Beijing with the Financial Technology Development Summit Forum. The forum was sponsored by the National Finance and Development Laboratory, hosted by the Social Science Literature Press, and co-organized by the Beijing Blockchain Application Association. The Internet Finance Lab of the Tsinghua PBCSF participated in the conference as an academic support unit.

The new book launch conference and the Financial Technology Development Summit Forum will focus on “Strengthening financial supervision and reshaping financial technology”, focusing on such core contents as “interpreting the new policy of financial supervision, interpreting the new meaning of financial technology, and summing up new trends in the development of financial technology”. More than 400 leaders and industry experts and scholars from the regulatory agencies, banks, financial technology companies, consumer finance, internet finance, payment platforms, securities, insurance, investment and financing institutions and others attended the meeting.

With the leadership and support of relevant leaders and experts of the People’s Bank of China, the Annual Report on China’s Fintech Development(2017)came out on schedule. This is the sixth year in a row for the financial science and technology blue book. It is published by the Academic Committee of the Chinese Academy of Social Sciences, and the National Finance Institute. Li Yang, director of the development laboratory, and Sun Guofeng, director of the People’s Bank of China Institute of Finance, served as chief editor. Experts from the Institute of Finance of the People’s Bank of China, the People’s Bank of China Payment Settlement Department, Tsinghua PBCSF, School of Finance of Nankai University, China Electric Data, China Credit Research, Haier Financial Technology, and Remittance and other theoretical and practical fields, A large number of professional, cutting-edge and in-depth manuscripts have effectively guaranteed the professionalism and authority of the annual financial science and technology blue book. The report pointed out that the supervision of Internet finance has been continuously strengthened. With the joint promotion of supervision, cost and technology, the development of Internet finance has entered the era of financial technology and opened a new chapter in the development of China’s financial industry.

Annual Report on China’s Asset Securitization Development(2017) is the first annual blue book on asset securitization. It is edited by Ji Zhihong, Director of the Financial Market Department of the People’s Bank of China, and is from the Financial Market Department of the People’s Bank of China, the Institute of Finance of the Peopl’s Bank of China, and Tsinghua PBCSF. Experts in the academic and financial fields such as the School of Finance, the Chinese Academy of Social Sciences, School of Finance of Nankai University , the National School of Accounting, China Chengxin Credit Co., Ltd, Guotai Junan and others are all actively involved in the preparation of the book, and are dedicated to professional discussions and gathering authority to speak up. The report pointed out that from the development experience of major global financial markets, asset securitization is an important part of promoting the in-depth development of financial markets. After more than 10 years of development, the issuance of the asset securitization market in China has become increasingly normal, the types of basic assets continue to be rich, the participants are more diverse, the liquidity has improved significantly, and the ability to serve the real economy has increased. This has become an important part of the bond market in China.

New Book Launch Ceremony

At the Financial Technology Development Summit Forum after the launch of the new book, Executive Editor of Annual Report on China’s Fintech Development(2017) and Annual Report on China’s Asset Securitization Development(2017), Zhu Yedong,Chairman of Sinodata Co.,Ltd; President of the Beijing Blockchain Application Association, Zeng Hui, Director of the Credit Department of the People’s Bank of China’s Financial Markets Division, Shen Hao, President of  Sinodata (Shanghai) Internet Financial Information Service Co., Ltd., Xie Wenjie, a technical expert in the financial industry of and International Business Machines Corporation (IBM) and the CTO of the BG Market and Solutions Division of Huawei Technologies Co., Ltd. and Xie Jun, director of office solutions, addressed the development trend of China’s financial technology and the development of China’s asset securitization market. Focusing on “the development trend of China’s financial science and technology”, “the development and practice of China’s asset securitization market”, “the sharing of direct-sale banks to facilitate the transformation of small and medium-sized banks”, and “enterprise-level financial cloud platform for financial science and technology to achieve out of the box”, “Leading Digitization, Building Open Finance Together”, to make wonderful sharing.

Zhu Yedong, Chairman of Sinodata Co.,Ltd & President of Beijing Blockchain Application Association, gave a speech

Dr. Zhu Yedong, president of the Beijing Blockchain Application Association, said that China’s financial technology industry presents ten major development trends, emphasizing that financial technology should return to the nature of science and technology, empower financial institutions and serve finance, and believe that China will become the world’s largest financial technology application market.

Zeng Hui, Director of Credit Department of the People’s Bank of China’s Financial Markets Department, gave a speech

The director of the Credit Department of the People’s Bank of China’s Financial Markets Division, Zeng Hui, pointed out that the overall development trend of China’s asset securitization market is good, the market demand is relatively strong, and the regulatory system and supporting system tend to be perfect, with improved standardization and transparency. In order to further promote the sustained and sound development of the asset securitization market, we must focus on the supply-side structural reform main line, adhere to the direction of marketization, standardization, and transparency, “open the right path, block the evil path”, promote standard unification, and strengthen risk prevention in order to play correctly and effectively the role of asset securitization.

Li Yang, member of the Chinese Academy of Social Sciences and director of the National Financial and Development Laboratory, delivered a closing speech

At the end of the conference, Li Yang, editor-in-chief of the Annual Report on China’s Fintech Development(2017), member of the Chinese Academy of Social Sciences, and chairman of the National Financial and Development Laboratory, was invited to deliver a closing speech and highly praised the launch of this new book and the peak of financial technology development. The topic orientation of the forum emphasized the importance of “reshaping financial technology” and pointed out that science and technology must enter into finance and should not compete with traditional finances, do not use the latest technology to do the oldest thing, but should create new ones. Methods and ways to increase financial services to the non-financial sector and the general population.

（Editor：Beijing Blockchain Application Association）     

Beijing Blockchain Application Association

December 9, 2017