Tao Xiang International Finance Lectures (No.15) Lectures: Fintech’s Current Development and its Supervision in China

On the afternoon of November 28, the 15th Tao Xiang International Finance Lecture was successfully held in Room 0201 Mingfa building of Renmin University of China. The guest lecturer Mr. Mu Changchun is the Deputy Director of the Payment and Settlement Department of the People's Bank of China. His lecture is titled Fintech's Current Development and its Supervision in China. Deputy director of the IMI Professor Tu Yonghong of the School of Economics and Finance, presided over the lecture. The lecture is also attended by IMI Special Researcher Wang Fang, IMI researcher Hu Bo, students and teachers from the School of Economics and Finance, as well as guests from academia. First, Deputy Director Mu explained the current development of Fintech from four different dimensions, which can be summed up by the acronym ABCD. Dimension A represents Artificial Intelligence, which includes machine learning and other technologies. Director Mu pointed out that the main applications of machine-based in-depth learning in the financial field are areas such as intelligent investments. Dimension B represents Big data and is mainly used in credit and credit reporting in the financial field. Dimension C represents Cloud computing and can help financial institutions process data. Finally, Dimension D represents Distributed ledger technology, and its application in the financial field is still being explored. Mr. Mu introduced these dimensions and their respective development in the financial field, analyzed their current problems and future prospects, and finally gave a systematic summary of Fintech's application in payment and settlement businesses and services. Later, Deputy Director Mu gave a comprehensive introduction to the money market fund, using Alipay’s Yu ‘e Bao as an example. He pointed out the market risks faced by the money market fund in the digital era. Mr. Mu also shared his insights on the future development for money market funds. During Q&A, Deputy Director Mu answered students' questions on: the theory of payment and trading mechanism and related research frontier; the bank payment and clearing market; and the development of the global network. Professor Hu Bo, IMI researcher and professor from the School of Economics and Finance also shared his opinions on the development of Fintech. After the lecture, Professor Tu Yonghong presented “The Taoxiang International Finance Lecture Honorary Certificate” to Director Mu Changchun. As Professor Tu said, the "Tao Xiang International Finance Lectures" was jointly launched by the School of Economics and Finance and the International Monetary Institute to commemorate the late Professor Tao Xiang at the 10th year of his passing. The lecture series is started by requests from the graduates of the Department of International Finance, and is formed and maintained by the School of Economics and Finance, as well as the IMI. "The Lecture Series" holds 12 lectures each year. Lectures are based on major areas in finance areas and features by case-studies, focusing on international financial issues such as international economic policy, financial organizations, banking supervision, RMB internationalization, banking development strategy, financial risk management, cross-border mergers and acquisitions, fund operation, derivatives trading, financial leasing, cross-border syndicate, asset securitization, and internet finance "The Lecture Series" employs elites and leaders of the international financial community to teach professional knowledge, with the aim to explore innovative ways for Renmin University to cultivate talents with solid theoretical foundation coupled with sound international financial management literacy for the 21st century.

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