In­ter­net fi­nance

China's Foreign Trade (English) - - Special Report -

【Pre­mier’s work re­port】Great ef­forts will be made to de­velop green fi­nance. At present, sys­tem­atic risks are gen­er­ally un­der con­trol, but we should be fully alert to the buildup of risks, in­clud­ing risks re­lated to non-per­form­ing as­sets, bond de­faults, shadow bank­ing and In­ter­net fi­nance.

【In­ter­pre­ta­tion】 Great im­por­tance should be at­tached to P2P com­pa­nies, as run­away bosses and prob­lems nor­mally oc­cur to th­ese com­pa­nies, which af­fects the big­gest user group. It is sup­posed to build a uni­fied and strict self-reg­u­la­tory or­ga­ni­za­tion and an in­de­pen­dent third-party cer­ti­fi­ca­tion agency for fund su­per­vi­sion and the plat­forms are for­bid­den to fi­nance for them­selves in the process of match­mak­ing trans­ac­tions. A sci­en­tific and quan­ti­ta­tive risk eval­u­a­tion mech­a­nism is to be set up as a ref­er­ence and sup­port for su­per­vi­sion poli­cies. A ‘neg­a­tive list’ mech­a­nism is to be es­tab­lished, which clar­i­fies the ac­tiv­i­ties that can­not be en­gaged in. This move on one hand helps to cre­ate an in­no­va­tive en­vi­ron­ment that ‘ac­tiv­i­ties are le­git­i­mate if the law doesn’t for­bid’ and on the other hand clearly de­fines the ‘ for­bid­den zones’,” said Cao Lei, direc­tor of the China E-busi­ness Re­search Cen­ter.

【Pre­mier’s work re­port】En­cour­age the in­te­grated de­vel­op­ment of phys­i­cal store sales and on­line shop­ping.

【In­ter­pre­ta­tion】Ac­cord­ing to Cao Lei, as pop­u­lar­ity of on­line shop­ping breaks the su­pe­rior mar­ket ad­van­tages dom­i­nated by tra­di­tional shop­ping, on­line shop­ping im­pacts the en­tity- op­er­at­ing re­tail­ers and forces many phys­i­cal stores into an op­er­a­tion dilemma. Con­fronted with crazy on­line shop­ping, more and more phys­i­cal stores be­gin to in­no­vate mar­ket­ing chan­nels by virtue of e- com­merce, and com­bi­na­tion of on­line and off­line helps the phys­i­cal stores to usher in a new era. Al­though more and more peo­ple turn into e-com­merce, phys­i­cal stores still have ad­van­tages that can­not be re­placed by e- com­merce, such as qual­ity guar­an­tee and safe sup­ply of goods. Thus, as long as the phys­i­cal stores face up to the im­pact of e-com­merce and proac­tively de­velop coun­ter­mea­sures, a string of neg­a­tive ef­fect by e-com­merce can be avoided.

Big data

【Pre­mier’s work re­port】To pro­mote ap­pli­ca­tion of big data, cloud com­put­ing and the In­ter­net of Things, and use new tech­nolo­gies, new forms of busi­ness and new mod­els to bring about trans­for­ma­tion in the pro­duc­tion, man­age­ment and mar­ket­ing mod­els of tra­di­tional in­dus­tries.

【In­ter­pre­ta­tion】 “With rapid de­vel­op­ment, big data has been widely used in var­i­ous tra­di­tional sec­tors. Big data may play a very ac­tive role in the en­tire process of man­u­fac­tur­ing. For in­stance, con­sumers’ pref­er­ence and de­mand based on the big data will func­tion on many sec­tions along the sup­ply side of man­u­fac­tur­ing, in­clud­ing prod­uct de­sign, R& D, pro­duc­tion, sup­ply chain and mar­ket­ing. Apart from solv­ing so­cial prob­lems, busi­ness mar­ket­ing prob­lems and tech­no­log­i­cal prob­lems, big data has a fore­see­able trend-peo­ple-ori­ented big data guide­line,” said Zhang Zhoup­ing.

【Pre­mier’s work re­port】To pro­mote a steady in­crease in con­sumer spend­ing, adapt to changes in con­sumer de­mand, im­prove poli­cies and mea­sures, and cre­ate a bet­ter con­sumer en­vi­ron­ment.

【In­ter­pre­ta­tion】Ac­cord­ing to Cao Lei, China is wit­ness­ing a new round of con­sump­tion up­grad­ing and con­sumers are turn­ing from liv­ing for sur­vival to man­ag­ing life and en­joy­ing life. It is also a process shift­ing from tra­di­tional sur­vival and ma­te­rial con­sump­tion to a new type con­sump­tion fea­tur­ing with de­vel­op­ment and ser­vice. In this round of con­sump­tion up­grad­ing, showy con­sump­tion is dis­ap­pear­ing and qual­ity con­sump­tion will see ex­plo­sive growth. Brand recog­ni­tion is no longer a sym­bol and real brand con­sump­tion be­gins to emerge. In fu­ture, as taste con­sump­tion prom­ises tremen­dous po­ten­tial and char­ac­ter con­sump­tion will grow rapidly, peo­ple will care more about the re­flec­tion of char­ac­ters in con­sump­tion such as in­di­vid­u­al­ity and per­sonal qual­ity.

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