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"Enhance risk prevention and purify the development environment" - the fourth survey was conducted at 9:30 a.m. on June 1, 2018 at Putuo District Financial Risk Prevention Research Conference. This time, we came to Xincheng finance, a model P2P Internet loan enterprise in Putuo District. Chairman Chen of Putuo District CPPCC Committee presided over the meeting. Chu, President of Putuo District Construction Bank, and Wang Shudong, director of Shanghai Founder law firm, participated in the survey.
The assistant president, risk control director and product manager of compliance department of Xincheng Finance introduced the products of Xincheng Finance (including the business model, industry positioning and product design direction of Xincheng Finance) and the risk control model of Xincheng finance. Xincheng finance is an online lending institution that provides information intermediary services for lenders and borrowers. Up to now, the development of the whole new town finance should be at a medium level in the online loan industry. Before the supervision, the trading volume of the whole industry was relatively large. With the tightening of the overall supervision in the second half of 2016 and 2017, the trading volume of the whole industry and the development direction of the platform were impacted to a certain extent. Since Xincheng finance was initially oriented towards online loan, the compliance of its own products, including the internal management of the company, can meet the requirements of the financial office. As a whole, it is a relatively completed platform in Putuo District.
From the perspective of enterprises, the current supervision is still relatively vague, there is no clear management department, and there are relatively more communication with the financial office at present, but it has not been fully managed by the financial office. As for the development of enterprises, the current P2P industry is indeed a good supplement to traditional finance, but this premise is that the country should have a strict standard for P2P, and the healthy development of non-financial institutions' financial business is also beneficial to the future economic development of the country. The risk control director of Xincheng finance also said that P2P practitioners also hope that enterprises can regulate their operations, so that they are more secure.
Through this survey, we learned how P2P practitioners view the current regulatory model from the perspective of enterprises, and listened to their voices. Xincheng also said that the current simultaneous regulation of several departments may be a necessary stage in the development process of this industry, but they believed that this industry will gradually move towards standardization, so that this industry can develop in a good environment , which is also the purpose of our research.
