China'S Internet Financial Leader, Alibaba Has Also Been Named.

The rapid development of shadow banking is closely related to the rise of Internet finance.

Zhou Xiaochuan pointed out that Internet Co is also a shadow banking activity in essence.

The Internet Co has developed rapidly, and has continuously infiltrated in payments, banking services and public funding, and has created new financial instruments.

"We are emotionally supportive of the development of high technology, and people do not want these Internet Co to be subject to too many restrictions, but these companies are actually engaged in some shadow banking activities."

Because of the risk of mismatch, high leverage and other risks, shadow banks can become the object of regulatory concern.

In recent years, the rapid rise of Internet finance has made the problem of shadow banking more prominent.

Zhou Xiaochuan, the governor of the central bank, said publicly that the shadow banking industry was developing rapidly in recent days, and that some internet financial companies had shadow banking activities. More importantly, the shadow banking activities carried out by Alibaba had such problems as time limit and high leverage.

China has decided to launch a new round of regulatory reform to cover these regulatory vacuum fields.

Although regulators encourage the development of Internet Co, as long as they engage in the financial industry, they should comply with the relevant regulatory requirements.

Ali kept high leverage named

Zhou attended the Central Bank of the International Monetary Fund (IMF) in Washington recently.

During the policy seminar, China's recent shadow banking development is very fast. Shadow banks will have serious problems and should be highly concerned.

As a leader in the layout of domestic Internet companies, Alibaba has also been named.

Zhou Xiaochuan pointed out that "the banking regulatory authority issued a banking licence to the Alibaba, and the central bank also issued a payment licence to it.

However, according to the definition of shadow banking by the financial stability board, the shadow banking activities they carry out have a time conversion problem, and the leverage level is too high, and capital requirements are also different from traditional banks.

For the shadow banking problem of Internet finance, many analysts said that the Alibaba was not alone, which is a common problem in the new form of Internet finance.

Ma Jun, chief analyst at net loan home, Ali is not an example. High leverage is a common phenomenon in the Internet financial industry. Now the leverage of Internet financial institutions is unlimited, which is also a lot of traditions.

An important reason for attempting to enter the field of mutual funds.

In Ma Jun's view, the speech of the central bank leaders expressed an attitude. For similar institutions, they should still be supervised according to their original ideas.

If we regard Internet banking as a shadow bank, it must be carried out according to the regulatory thinking of shadow banking, and the direction of Internet financial regulation will also change.

However, there are still differences in the definition of shadow banking.

Dong Ximiao, executive director of Hengfeng Bank Research Institute, said that more accurately, the existence of shadow banking activities is Ali's ant clothing.

He pointed out that for commercial banks, there is a requirement for capital adequacy ratio, but there is no corresponding regulatory requirements for Internet finance, and almost no restrictions on capital.

Ant gold clothing has been widely involved in the financial field in recent years, including Alipay, sesame credit, ant treasure, Internet banking, ant ant loan, ant financial cloud, etc.

It includes credit, small loans, banks, finance and so on.

"Although banks, small loans and other licensed financial lines need to meet regulatory requirements, there are still a part of the business outside the regulatory framework, such as the treasure chest, although it belongs to the financial services sector of ant gold clothing, but in fact it is an information intermediary, connecting the needs of investors and small and medium enterprises loans and personal loans. The balance of treasure business has achieved the same function as bank deposits, but it has not been regulated by the same bank."

One analyst said.

Beijing Business Daily reporter yesterday asked about the ant gold clothing group responsible person, but did not get his official response.

Financial armies in shadow

A statement from the central bank's leaders has made shadow banking once again become the focus of the market.

Zhou Xiaochuan said the financial stability Council (FSB) and the Bank of International Settlements (BIS) divided shadow banks into two categories, including shadow banking institutions (such as hedge funds, money market funds) and shadow banking activities.

Among them, shadow banking activities refer to the activities traditionally adopted by commercial banks aimed at avoiding traditional supervision, and China's shadow banks are the main ones.

"The main reason for the rapid development of shadow banking is regulatory vacuum and regulatory arbitrage. Shadow banks get higher profits, while traditional financial institutions, such as banks and insurance companies, will follow suit."

Zeng Gang, director of the banking research office of the Financial Research Institute of the Chinese Academy of Social Sciences, said that the so-called "shadow banking" means the same function as banks, but it is not a real bank in itself, and does not accept institutions similar to banking supervision.

Like the newly developed Internet finance, it has financial attributes in essence, which is the same as the basic risk points of traditional finance. However, supervision has not been established, resulting in many problems.

Take Internet finance as an example, the essence of Internet finance is still finance, and traditional financial risks such as credit risk, liquidity risk, legal compliance risk and operational risk still exist.

However, most internet financial network lending platforms are not strict in terms of qualification of investment and financing, and the requirements for access threshold are low, and the information disclosure system is generally not perfect.

For the size of shadow banking in China,

The data given is that the total size is not large at present. If the total assets of shadow banks are compared with traditional bank assets, the scale is only 20% of the latter; if compared with the total loans of banks, it is only 30%.

For the subsequent regulatory thinking, Zeng just said that we should adhere to the principles of regulatory consistency, content greater than form and full coverage of supervision.

For the supervision of Internet finance, first of all, it is necessary to improve its access threshold and risk prevention from the source.