Principles to be followed by all banking financial institutions and payment institutions

All financial institutions and payment institutions should follow the principles of "risk orientation" and "prudent balance".

1. A third-party payment institution shall engage in business activities according to the business scope approved by the Payment Business License issued by the People's Bank of China, and shall not engage in business beyond the approved scope. Payment institutions shall not transfer or transfer, lease or lend the payment business license in disguised form.

Without the approval of the People's Bank of China, no non-financial institution or individual may engage in or engage in third-party payment business in disguised form. First, supervision should not be classified according to the name of the institution, but according to the nature of the risk.

Finance is an industry where bad money drives out good money. New innovation activities should be supervised according to the nature of risks. For example, the business of socialized fund-raising should be managed more strictly, and the business of liquidity conversion and maturity mismatch should be managed by liquidity rules. ?

2. The transfer of monetary funds between third-party payment institutions shall be entrusted to banking financial institutions, and shall not be entrusted to other payment institutions by depositing funds among them. Second, from the perspective of systemic importance, small institutions can appropriately give higher innovation space and appropriate regulatory tolerance by grasping the balance between innovation and risk management.

But once financial institutions reach a certain scale, they should be subject to stricter supervision. The third is to prevent the monopoly of important core resources and financial infrastructure. Historically, technological innovation is very easy to form a monopoly. It is necessary to realize that data is the core financial resource, so it must be open and transparent.

3. The customer reserve funds of third-party payment institutions shall be managed separately from their own funds, and must be fully deposited in qualified reserve banks. Illegal fund-raising, usury, Ponzi scheme and other chaos should be distinguished by grasping the basic principles. In fact, all these chaos have a common feature, such as illegal fund-raising, Ponzi scheme and promising high returns.

But in fact, financial innovation will not bring high returns, and physical innovation will bring high returns; For businesses similar to usury, the role of financial technology is to strengthen the matching of risks and pricing, which can reduce interest rates, but what we are doing now is still to cover high risks with high interest rates, just to expand the coverage of customers through the Internet.