On December 5, 2017, the World Internet Conference continued in Wuzhen. Li Dongrong, president of the Internet Finance Association of China, attended the conference and delivered a keynote speech at the "Internet and Finance" sub-forum. In his speech, Li stressed that fintech has strong charm, but only if it is based on serving the real economy can it have vitality.
As a new type of finance, Internet finance has its own characteristics. But in the final analysis, Internet finance is also finance, with the basic functions of finance, mainly reflected in the provision of financial financing, payment and settlement, risk management, price discovery and other services for economic development. Therefore, in essence, Internet finance should also serve the real economy as the first priority.
Dating back to 2000 BC, the earliest form of finance has taken shape. At that time, the Babylonian temple started the business of keeping money and charging interest for loans. The origin of modern finance is marked by the establishment of the Bank of England in 1694. Subsequently, the financial industry in various capitalist countries developed rapidly, and many new forms such as stocks and funds came into being. According to the current conventional wisdom, the creation of money is the inevitable choice to reduce the flow of transactions, and the emergence of lending is the real origin of finance.
Modern finance originated from capitalist countries, which greatly supported the then capitalist countries to capture territory and war in the world. The domestic populace lent money to trading companies, which replenished their capital through trading and looting and realized high returns. Although the process is inhuman, it just shows the essence of finance: based on the real economy and serving the real economy. The money of the domestic populace came from handicrafts and mechanization, which eventually flowed into global trade: the exchange of goods, logistics ships and so on.
Back in China in the 21st century, with the rapid development of Internet technology and the transfer of traditional financial industry to online, finance with the wings of the Internet has made a qualitative leap. Loans and investments can be made purely online, with accurate analysis of big data, which can be completed in a few minutes or even seconds. There are many platforms like Cloud Money Bag that can match dozens of loan information per second.
The seemingly high-tech Internet finance is actually a reward and service to the real economy. Take cloud pocket loan users as an example. According to the statistical data of more than three years, the loan applications of small and micro business owners account for 42.5%, and most of these small and micro business owners are practitioners of handicraft industry, crude processing industry and agriculture-related industries. Financing for these people can effectively fill the weak links of the industry and promote the healthy development of the national economy.
With more than 800,000 registered users, Cloud MoneyBag has earned nearly 200 million yuan for its users. Among these lending users, young white-collar workers account for more than 70%. They are more familiar with the Internet and have a more tolerant and accepting attitude towards online financial management. According to the survey, more than 90 percent of Internet users born in the 1980s and 1990s use online finance. Moreover, with the in-depth development of Internet finance, they are no longer limited to basic financial needs like Yu 'ebao, and turn to crowdfunding, P2P and other new financial methods.
No matter online lending or crowdfunding, fundamentally speaking, the main borrowers all come from the real economy, and most of these are small and micro real economy. With the change of national policies, mass entrepreneurship and innovation have become the basic consensus, and the corresponding financial support will follow up accordingly, which is the important strength of the online lending platform like Yunqianbag.com. It is the responsibility of online lending platforms to serve small and micro entities.
