Zhou Xiaochuan: Some platform technology companies may bring fair competition problems and financial risks

At the 2021 China (Beijing) Digital Finance Forum held today, Zhou Xiaochuan, former governor of the People's Bank of China, said that digital finance has brought convenience to financial consumers while also exposing many problems. "For example, some platform technology companies use the slogan of digital financial innovation, contrary to the conditions of compliance, legitimacy and risk control, through the Internet channels to carry out financial business, some business from the functional point of view, its financial attributes have not changed, engaged in this kind of intermediary financial services Business essence has not changed, which may bring the problem of fair competition and financial stability risks." Therefore, while encouraging the development of digital finance, we should adhere to the principle of licensed operation in the financial services industry, and the basic conditions for licensing include: capital enrichment, risk resistance, professionals and understanding of rules. Zhou Xiaochuan said.