Financials Dec 23, 2020 12:33 PM (GMT+8) · EqualOcean
Wu Xiaoling, former vice president of the central bank, said in reply to reporters from the financial association and other media today that licensed operation is a general rule in the financial industry. Due to the endowment advantages of platform companies, data companies and technology companies, they may be more effective or have more cost advantages than traditional financial institutions in some aspects. Theoretically, they may enjoy some relatively loose regulatory indicators. Different supervision should be carried out according to the way and degree of intervention of these companies, and in accordance with the principles of the size of risks and who bears the risks in essence. In the way of supervision, it needs to be supplemented with appropriate means and tools. In addition, the cooperation mode between technology companies and financial institutions, data rights confirmation and personal information protection, prudence and fairness of models and algorithms, prevention of conflict of interest, risk identification and measurement, anti-monopoly, risk rescue and other aspects need to be studied in depth.

This text is a result of machine translation.