Traditional finance corresponds to the factors of production

The production factor corresponding to traditional finance is data.

Traditional finance, mainly refers to financial activities with only three traditional businesses: deposit, loan and settlement. The broad life cycle costs also include the use costs and abandonment costs incurred by consumers after purchase. Simply put, finance is the financing of money.

Finance is the currency circulation and credit activities and the economic activities associated with the general term, broadly speaking, finance refers to all the issuance of credit money, custody, exchange, settlement, financing related to economic activities, including even the purchase and sale of gold and silver, and a narrow sense of finance refers exclusively to the financing of credit money.

Ma Huateng pointed out that, for many traditional industries, Internet information technology, no less than the invention of electricity on all traditional industries change. Previously, all industries have electricity and no electricity before what kind of difference, there is the Internet is a similar effect. I think there is a lot that can be done by combining the Internet with other industries to produce some upgrades.

E-commerce is actually the combination of retailing, outlets, and circulation through the Internet, which seems to belong to an industry of the Internet, but in fact it is the depth of the retail industry.