We Should Believe In Downing: " Four Key Words " Construct The Advanced Principles Of Digital Inclusive Finance.

The sixth Shanghai new financial year and the third Internet finance the Bund summit have just come to an end. More than 100 experts from the Internet financial regulatory departments, industry and academia have gathered around the 2 topics of Inclusive Finance, the innovation and spanformation of banking industry in the Internet financial era, the risk prevention of P2P network lending, the innovation and practice of small and micro enterprise financing, the investment management mode and challenges of AI, the new mode of Inclusive Finance in rural finance, the chaining of chain and financial technology innovation, consumer credit and credit reporting, and the development of the insurance industry in the Internet era.

As director of SFI, the founder and CEO of Yixin company. Downing When invited to attend the keynote speech entitled "China's practice and vision of Inclusive Finance", four key words were used to outline the advanced principles of digital Inclusive Finance.

Downing, founder of Yixin company, CEO

Digital+Sustainable+Responsible+Smart= digital Pratt & Whitney advanced principles

In the communiqu of the finance ministers and governor of the Central Bank of the G20 issued in July 24th, the G20 digital inclusive financial principles formulated by Pratt & Whitney financial partners (GPFI) were adopted. G20 The updated version of inclusive financial index system and the implementation framework of G20 SME financing action plan.

"I think this is a consensus and vision for the development of Inclusive Finance in the world." Downing gave his own interpretation of the advanced principles of digital Inclusive Finance in the announcement, using four key words.

Digital, digitalized. Financial technology, Internet finance, and the use of technology to achieve Inclusive Finance come down in one continuous line.

Sustainable, sustainable. Emphasis is laid on the balance between risk and innovation, and the sustainability of institutions.

Responsible, responsible. The responsibility for consumers and society in the process of institutional innovation.

Smart, great wisdom. In terms of supervision, we should not only tolerate but also stick to the bottom line and avoid "letting go one after another, and then killing each other". In terms of innovation culture, we need to give financial innovation, financial technology and Internet finance the corresponding space.

These four key words "construct the advanced principles and common vision of Inclusive Finance in the world." Downing emphasized.

It is understood that at the upcoming G20 summit in Hangzhou, Yixin company was invited to participate in the research of the global partners (GPFI) of Pratt & Whitney and is a member of the expert group.

Solving "financing difficulties" is more urgent than "financing expensive".

At the executive meeting of the State Council in July 27th, Premier Li Keqiang delivered an important speech on the financing difficulties of small and medium-sized enterprises. He pointed out that "small and micro financing difficulties have not been solved at all." Small and micro enterprises It is generally reflected that financing is more urgent than financing before financing is expensive.

"This is an understanding of the authority of China's Pratt & Whitney financial practice development stage." When he talked about the prime minister's speech, Downing pointed out that "this paragraph is very enlightening and very important for all China's inclusive financial industry."

Recently, Yixin company and Harvard Business Review combined with the research team of Ba Shu song jointly published the report on "China's practice of Inclusive Finance: technology driven change". Downing's proposed "three steps" view of Inclusive Finance is mainly in three stages, namely microfinance, micro finance and capacity building. The first step is to solve the problem of capital acquisition.

"The first step has not yet been completely resolved. It is just beginning, and there are still a lot of problems that have not been met, such as credit establishment and capital acquisition." Downing said frankly.

Yixin ten years witnessed the development of Inclusive Finance in China

Speaking of the development of Inclusive Finance in China, in conjunction with the ten year practice of Yixin, Downing shared with the participants in three cases, namely, the financial services platform for small and medium enterprises facing the city - "wing Qi Yun", aiming at small and micro leasing of farmers' innovative financial mode, appropriate agricultural loans and solving the "100 thousand dollar dilemma", providing the most intelligent financial platform for China's small financial managers, such as RA, etc.

Among them, when it comes to "wing start cloud service", Downing stressed that "it uses the supply chain's Internet Financial cloud platform technology, based on the large number of financial data resources and financial management experience accumulated by the small and micro enterprises in the past 10 years, and extends from payment, financing and credit to internal management, focusing on the comprehensive improvement of customer's comprehensive management capability, and the layout and breadth and depth of the product industry, so as to build a convenient, safe, risk controllable and open investment and financing platform for financial and technological services for small and micro enterprises".

Downing pointed out that the platform model of "wing Qi Yun clothing" has a good interpretation of the logic of inclusive financial "three steps", microfinance, micro finance and capacity building.

Downing finally stressed that, as a financial innovation industry, our ultimate dream is to enable the limited and scarce resources to be truly allocated and delivered to individuals and enterprises with virtue, talent and responsibility through their own knowledge, learning, doing and doing so that we can achieve better financial allocation and achieve better industries and better society. Based on this, we should believe that all the colleagues in the company are willing to work together with the industry to make mode innovation and technological innovation make finance better.