Consolidate the legal basis for the Development of Internet Finance

On July 18, the people's Bank of China, the Ministry of Industry and Information Technology, the Ministry of Finance and other ten ministries and commissions jointly issued the "guidance on promoting the healthy Development of Internet Finance", clearly stipulating the main forms of Internet finance, such as Internet payment and network lending. This means that Internet finance will step into the track of legalization and supervision according to law, and enter the stage of standardized development.

Internet finance has developed rapidly in recent years, which is also of great benefit to meet the financing needs of the development of agriculture, rural areas and farmers in our country. However, while vigorously promoting the reform and innovation of the financial system, there are also some problems and hidden dangers that can not be ignored, such as "lack of threshold, lack of rules, lack of supervision" in the development of the industry, and hidden dangers in the safety of customers' funds. there have been a number of "roll money run" incidents; the internal control system of employment institutions is not perfect, there are operational risks, and so on. Compared with the traditional financial model, Internet finance because of the use of big data, mobile Internet, cloud computing and other new technologies, can more easily achieve financing, payment, investment, the cost of its services is lower, conducive to entrepreneurship. However, as a new thing, the risks of Internet finance are also obvious, especially in the realistic context where there is no systematic legislation on Internet regulation and "Kowloon Water Control" supervision model. Many potential risks of Internet finance are more likely to disturb the normal market order.

At present, the root cause of the existence of undesirable phenomena such as "fishing in troubled waters" in the Internet financial market lies in the unsound laws and regulations and the lack of standardized and orderly supervision. The relevant opinions on Internet financial supervision issued by ten ministries and commissions clearly require that the future supervision of Internet finance should not only simplify administration and delegate powers, but also "clarify the bottom line of risks, protect legitimate business, and resolutely crack down on illegal and illegal activities." the whole article embodies the strong consciousness of promoting the healthy and orderly development of the Internet financial market with the cornerstone of the rule of law, which will contribute to the end of the "barbaric and capricious" growth of Internet finance. To promote its standardized operation on the track of the rule of law.

As early as July this year, in the "Internet +" Action guidance issued by the State Council, it was clearly proposed to speed up the construction of laws and regulations in the field of "Internet +", including Internet finance, so as to make the rule of law a solid cornerstone for the sound development of Internet finance. To promote the healthy development of Internet finance, on the one hand, it is necessary to strengthen investigation and research, and make scientific research and judgment on the constraints affecting the healthy and standardized development of Internet finance, so as to improve relevant laws and regulations pertinently, and let perfect and systematic laws and regulations provide an umbrella for the benign development of Internet finance in the ascendant. On the other hand, the relevant responsible departments responsible for the supervision of Internet finance must adhere to the way of thinking of the rule of law, standardize the operation and management of Internet finance in accordance with the law, and examine whether the relevant legal system still needs to be improved at every step. Internet financial business activities that deviate from the track of the rule of law should be corrected in accordance with laws and regulations in a timely manner, so as to make the rule of law become the source of strength for the orderly development of Internet financial norms.

Tamping the cornerstone of the rule of law of Internet finance is a complex system engineering, which can not be achieved overnight and requires continuous efforts. Only in this way can the positive energy of Internet finance to promote the better development of finance and even the economy as a whole be fully released, and can the indestructible cornerstone of the rule of law really protect its healthy development. so as to ensure that it truly becomes a new platform for entrepreneurship and stimulating market vitality.