Ant Gold Suit Jing Xiandong: Market Irregularities Will Damage Everyone'S Interests.

On the eve of new year's Eve, the number of WeChat red envelopes was 420 million, and the total number of recipients was over 8 billion. Within a few hours of the Spring Festival Gala, more than 100 million people walked 800 million yuan in red packets through Alipay.

Such a "red enveloped rain" depends on the popularity of Internet payment geometry.

From the 100 billion yuan in 2013 to nearly 1 trillion yuan in 2015, the scale of P2P net lending has been growing at a rate of about 3 times.

At the same time, capital is pouring in.

"Jingdong finance" just got 6 billion 650 million yuan financing at the beginning of the year, "Lu Jin" announced that the completion of about 8 billion yuan B round of financing...

One digit, the whole world.

Wonder.

In this issue, we will set up the "new finance" column in the character version, trying to present the current and future of Internet finance through an exclusive interview with leading journalists of the Internet financial industry.

Get into

In 9 years, from the vice president of the group to the chief financial officer of Alipay, and then to the president of the ant gold clothing company, he participated in witnessing the financial system of Ali.

The birth and growth.

The name "Wang Anshi" is in the name of Ali, and the person who is familiar with it is "professional rigorous, friendly and easy-going".

In an interview with the economic reference daily, Jing Xiandong always stressed, "we must put users first and think more of users."

Twenty-seventh partners of Alibaba group

According to public information, Jing Xian Tung graduated from Shanghai Jiao Tong University School of management in 1994 with a bachelor's degree in engineering and MBA degree from University of Minnesota's Carlson School of management in 2005.

He worked in Coca-Cola, Pepsi and other companies.

Joined Alibaba in early 2007, joined Alipay as CFO (chief financial officer) in 2009 and took charge of ant gold clothing in 2014.

At present, it is the twenty-seventh partner of the Alibaba group, and is also one of the first elite professional managers introduced by Ali.

For the purpose of joining the Alibaba, "I was attracted by the culture of idealism here, and called" chivalrous "according to what we say today.

"Because Ali really wants to help small and micro businesses, and help ordinary consumers, there is no hard work for the world," he said.

Of course, Ma Yun himself is also very attractive and infectious.

In Alibaba, we will call him "headmaster Ma", "Ma teacher", and the two words "teacher" are also unique in Alibaba culture, because teachers actually want to be able to implement the training of talents, pay attention to people, and hope that students are better than themselves.

You can hardly imagine that the founder of a company has only 7% of the shares.

From the beginning, Ma Yun is creating and sharing with everyone. "

Jing Xiandong told reporters that although he has joined the Ali group for nearly ten years, he still feels full of enthusiasm and full of positive energy every day.

Layout of the whole industry chain

As the eldest son of Ali, the real name registered Alipay is regarded as the foundation for the development of ant gold clothing business.

It is reported that Alipay's current user scale has exceeded 450 million real users, and offline operators have nearly 80 convenience stores.

Since 2014, the ant gold clothing has been building an Internet plus finance building.

In 2015, ant gold clothing launched the "Internet thruster plan", which is expected to help more than 1000 financial institutions pform and upgrade in 5 years, and support more financial institutions to develop Inclusive Finance.

At the end of April this year, the ant gold clothing announced the completion of the $4 billion 500 million B round of financing, so far the largest Internet private sector financing.

After this round of financing, the company's valuation has reached $60 billion, compared with last year's A round of $45 billion, just 9 months valuation increased by 1/3.

"Ali has long established the business philosophy of" customers first, employees second, shareholders third ". All the starting points of the company's business are how to create value for customers. This idea applies to ant suits too.

Jing Xiandong said.

"After the advent of Alipay, businesses that survive on Taobao need to develop and need capital. We see this is a huge gold mine.

But at that time, there were usually only two ways to get loans from sellers who were doing business on Taobao, one is private lending, the other is borrowing money from friends and relatives, and the other one is underground banks and usury.

"Taobao supports tens of millions of sellers. Such a huge group can only solve the financing needs if they can only rely on private lending and underground banks," he said.

Therefore, we decided to provide financing services for them and provide them with credit services, which is the origin of the small loan.

Jing Xiandong told reporters that the current Internet Banking (including the former Ali small loan, ant small loan) has accumulated more than 340 000 small and micro businesses, and the total amount of loans has exceeded 600 billion yuan, and the balance of household loans is less than 40 thousand yuan.

In Jing Xiandong's view, ant Jin obeys Alipay's start, to small loans, to banks, insurance, financial management, credit reporting, financial cloud......

Along the way, the Internet has been accumulating data and risk with internet thinking and technology, and using these data and technologies to feed users.

"The more users think, the more users, the lower the cost of technology and data, and the better the financial inclusion of Pratt & Whitney. This is the positive cycle of our business.

At the same time, we believe that the new financial formats that integrate the advantages of the Internet and finance can enable users to get better financial services.

Jing Xiandong said.

Well Hsien Tung also has his own views on the two words of "Pu" and "Hui".

He believes that the mobile Internet makes the "universal" possible. Cloud computing and big data have done a "benefit" to make the service more efficient, lower cost and less risk.

Help Pratt & Whitney dream of internationalization

"As a world based technology company in China, we hope to achieve equal opportunities for financial services in science and technology worldwide and solve the global problem of Inclusive Finance."

Speaking of the future development plan, he said frankly, "the future ant gold suit will put one of the strategic priorities in the internationalization strategy."

For example, in the streets and alleys of India today, thousands of convenience stores, cafes and gas stations can see a large palm sticker that prompts electronic payment. This is the first mobile payment Paytm in India, known as "India Alipay".

In India, 130 million Indians use it by bus, and use the "protruding" tricycle to use it to recharge the phone and buy movie tickets with it.

Paytm is a member of Alipay's global family members.

At the beginning of 2015, ant gold clothing invested in India Paytm. After a year, the number of Paytm users increased from 21 million to nearly 126 million, an increase of 5.6 times.

Jing Xiandong told reporters that the rise of the electronic payment system represented by Paytm in India is different from China's national conditions.

India's basic financial services are not universal. Nearly 1 billion 300 million of the population has only 400 million bank debit cards and 23 million credit cards. Many ordinary Indians have never even entered the bank.

When Paytm's core team was asked, who was the biggest competitor of Paytm in India, they gave a consistent answer - cash.

Because of the underdevelopment of basic financial services, more than 90% of pactions in India are carried out in cash. The pain of cash pactions is to replace cash pactions with fictitious electronic payment. It seems that a hundred years ago, from copper money to paper money, would bring about an iteration of the whole financial state and trading means, or even bring about changes in lifestyle.

With the popularity of smart phones, the development of electronic payment has made India's Internet finance move towards a development path different from most countries in the world. It is a leap forward development. Many people may never have credit cards or bank accounts, but learn to use Paytm through smart phones. With virtual personal accounts, such a leap has become a reality in India.

In addition, the three important cores of the future development of ant suit are: first, based on big data capability, we will contribute to a complete credit system for the whole social financial system. Seven industries, including finance, travel and e-commerce, are using sesame credit service; second, financial services for small and micro enterprises.

In addition to payment, it has worked with more than 70 insurance institutions and more than 100 fund companies, and Alipay has connected with all banks.

Third, internationalization.

Instead of going to each country to set up a branch or subsidiary, it can empower local partners.

From the experience of India, we believe that local wisdom plus our technology and standard output is a good model.

This is a very important strategy for internationalization. "

Well Hsien Tung said.

Financial innovation should be standardized and developed simultaneously.

With regard to the development direction of the Internet financial industry, Jing Hsien Tung emphasizes that Internet finance must not only be understood as finance on the Internet, but rather a development and innovation of financial products and financial services driven by mobile Internet technology, cloud computing and big data technology. It also includes cooperation and creation in the ecosystem based on the idea that the Internet is more open and shared.

In Jing Xiandong's view, there are two major problems in Internet finance.

First, many people are doing illegal financial activities in the outer garment of Internet finance. Such enterprises should be strictly cleaned up and rectified.

Second, we should be vigilant against those institutions that do not have a reasonable business model. For those who continue to burn the money market, their continued losses and spillover effects will cause great harm to consumers and society.

"Financial innovation requires standardization and development simultaneously, requiring threshold and qualification requirements."

Jing Xiandong believes that in the Internet financial industry, there should be some differentiated management.

In view of the frequent industrial risk events, he admits, "in any country, it is necessary to strengthen supervision in the financial field. China also has the same market discipline that will damage everyone.

Whether users or leading enterprises. "