What are the regulators of Internet finance?

The regulators of Internet finance are the People's Bank of China (PBOC), the China Banking and Insurance Regulatory Commission (CBIRC) and the China Securities Regulatory Commission (CSRC).

The People's Bank of China (ThePeople'sBankOfChina, abbreviated as PBOC), referred to as the central bank, is the central bank of the People's Republic of China, the People's Republic of China, the State Council of the State Council component departments. Under the leadership of the State Council, it formulates and implements monetary policy, prevents and resolves financial risks, and maintains financial stability.

The China Securities Regulatory Commission (CSRC) is a full ministerial-level institution directly under the State Council, which is authorized by the State Council in accordance with laws, regulations and the State Council to unify the supervision and management of the nation's securities and futures markets, to maintain the order of the securities and futures markets, and to safeguard their lawful operation.

The China Banking and Insurance Regulatory Commission (CBIRC or CIRC), established in 2018, is an institution directly under the State Council, whose main responsibilities are to unify the supervision and management of the banking and insurance industries in accordance with laws and regulations, safeguard the lawful and sound operation of the banking and insurance industries, prevent and resolve financial risks, protect the legitimate rights and interests of financial consumers, and maintain financial stability.

The China Banking and Insurance Regulatory Commission (CBIRC) is a public institution directly under the State Council, and is at the ministerial level.

Extended information:

The main characteristics of Internet finance:

1, low cost:

Internet financial model, the supply and demand of funds can be completed through the network platform information screening, matching, pricing and trading, no traditional intermediary, no transaction costs, no monopoly profits.

On the one hand, financial institutions can avoid the capital investment and operating costs of opening business outlets; on the other hand, consumers can quickly find financial products that suit their needs on an open and transparent platform, weakening the degree of information asymmetry and saving time and effort.

2, high efficiency:

Internet financial services are mainly handled by computers, the operation process is completely standardized, customers do not need to wait in line, business processing speed is faster, the user experience is better.

such as Ali microfinance relying on the credit database accumulated by the e-commerce, after data mining and analysis, the introduction of risk analysis and credit investigation model, the merchant from the application for a loan to the issuance of only a few seconds, the daily average of 10,000 loans can be completed to become a real "credit factory".

3, wide coverage:

Internet financial model, customers can break through the constraints of time and geography, looking for financial resources needed on the Internet, financial services are more direct, the customer base is broader. In addition, the customers of Internet finance are mainly small and micro-enterprises, covering some of the blind areas of financial services of the traditional financial industry, which is conducive to enhancing the efficiency of resource allocation and promoting the development of the real economy.

4, fast development:

Relying on the development of big data and e-commerce, Internet finance has seen rapid growth. Take Balance Treasure as an example, Balance Treasure has been on line for 18 days, the cumulative number of users has reached more than 2.5 million, and the cumulative transfer of funds has reached 6.6 billion yuan. According to reports, the scale of balance treasure is 50 billion yuan, becoming the largest public fund.

5, weak management:

One is weak wind control. Internet finance has not yet access to the People's Bank of China credit system, there is no credit information *** enjoyment mechanism, does not have a bank-like wind control, compliance and clearance mechanism, prone to various types of risk problems, there has been a crowd lending network, the net win the world and other P2P lending platforms to declare bankruptcy or stop services.

The second is weak regulation. Internet finance in China is in its infancy, there is no regulation and legal constraints, lack of access thresholds and industry norms, the whole industry faces many policy and legal risks.

6, risky:

One is the credit risk. At this stage, China's credit system is not yet perfect, the relevant laws of Internet finance are still to be supported, the Internet financial default cost is low, and it is easy to induce malicious loan fraud, rolled up and run away and other risk issues.

In particular, P2P lending platforms have become hotbeds for criminals to engage in illegal fund-raising and fraud due to the low entry threshold and lack of supervision. Since last year, Taogin Loan, Youyi network, Antai excellence and other P2P lending platforms have been exposed to the "road" events.

The second is the network security risk. China's Internet security problems are prominent, network financial crime can not be ignored. Once encountered hacker attacks, the normal operation of Internet finance will be affected, jeopardizing the safety of consumer funds and personal information security.

Baidu Encyclopedia - Internet Finance (Concept)

Baidu Encyclopedia - China Banking and Insurance Regulatory Commission

Baidu Encyclopedia - Financial Regulators

Baidu Encyclopedia - People's Bank of China

Baidu Encyclopedia

Baidu Encyclopedia - China Securities Regulatory Commission<