President of mutual fund association: consumers need to improve their ability to distinguish pseudo digital Finance

category:Finance
 President of mutual fund association: consumers need to improve their ability to distinguish pseudo digital Finance


Li Dongrong said that in recent years, the financial industry has taken on the characteristics of no technology, no data, no finance, bringing more and more long tail customers into the service radius. In practice, although some digital financial products rely on digital technology to reduce the threshold and facilitate sales, the financial professionalism and business complexity behind the products have not decreased, especially for consumers, long tail The customers digital financial literacy needs to rise instead of fall. Many digital financial applications rely on big data and artificial intelligence for marketing and business management, which requires consumers to further enhance the sensitivity of financial data and the awareness of privacy protection. In addition, some lawbreakers, under the banner of financial innovation, use fake apps and phishing websites to carry out accurate fraud against consumers. This also requires consumers to improve the ability to distinguish pseudo digital finance.

As for the countermeasures and suggestions to improve the digital financial literacy of consumers, Li Dongrong said, strengthen the research on the theory and practice of digital financial literacy, do a good job in the linkage of government, industry, education and research; build a multi system digital financial education pattern; and promote the accuracy and digitalization of financial education tools, combine the characteristics of digital financial service mode, wide coverage and high frequency, and comprehensively improve the digital users quality Financial literacy and digital literacy of financial users.

Attached is the speech record of Li Dongrong:

Dear guests and friends, good afternoon! In the critical period of fighting against the epidemic and promoting social development, the theme of this forum is financial war, overcoming the difficulties together, which I think is very encouraging. First of all, on behalf of China Internet Finance Association, I would like to extend my warm congratulations on the opening of the forum. At the same time, as one of the authors of financial literacy - a required course for leading cadres, I also extend my warm congratulations on the successful release of the new book.

Next, I will focus on the theme of financial literacy to help the modernization of governance ability, and I will talk about three aspects of thinking on how to improve the digital financial literacy of consumers in the digital era, for your reference.

First, it is of great practical significance to improve consumers digital financial literacy. Theoretically speaking, financial literacy is a kind of comprehensive element, which refers to the collection of financial knowledge, skills, attitudes and other elements needed by consumers to make appropriate or stable financial decisions and ultimately achieve the maintenance and appreciation of personal wealth. Digital financial literacy is a new dimension and new field of financial literacy in the digital era. It includes but not limited to digital financial infrastructure, digital financial risk awareness, digital financial use and risk management skills, digital financial consumer responsibility and rights capabilities.

Secondly, it is an urgent need to improve the digital financial governance and maintain the order of the digital financial market. Digital finance does not change the nature and risk attributes of finance, but it is precisely in the digital era of openness and interactivity, which makes the field of digital finance more prone to multiple risks such as business, technology, data, network and so on. As an important subject of digital financial market, digital financial consumers are not only participants and promoters, but also face the test of risk. Only by improving their digital financial literacy, can they adapt to the changes and challenges brought by the digital financial era, alleviate the information incompleteness and asymmetry in the digital financial market, enhance their awareness of preventing digital financial risks, improve their risk prevention ability, and maintain the normal order of the market.

Finally, this is a common choice and necessary preparation for the global adaptation to the arrival of the digital financial era. In 2016, the G20 Hangzhou summit adopted the high-level principle of digital Inclusive Finance, which listed the importance of the popularization of consumer digital technology basic knowledge and financial knowledge as one of the eight high-level principles, and put forward action suggestions such as carrying out digital financial capacity assessment and strengthening information disclosure. The world bank, OECD and other international organizations, as well as countries and regions including China, the United States, the United Kingdom, the European Union, India and South Korea, also attach great importance to the issue of digital financial literacy, and focus on integrating it into the relevant policy planning of Inclusive Finance, financial science and technology.

Second, the current situation and challenges of consumer digital financial literacy in China. In recent years, Chinas financial management departments, industry associations and the vast number of practitioners have done a lot of work in financial education and achieved positive results. Especially with the rapid development of Internet Finance and the innovative application of financial technology, the importance of digital financial literacy has been increasingly agreed. In 2016, 10 ministries and commissions, including the peoples Bank of China, issued guidance on promoting the healthy development of Internet finance, which put forward the requirements of formulating consumer education plans and strengthening the protection of personal information. In 2019, the financial science and technology development plan issued by the peoples Bank of China clearly stated that it is necessary to popularize the knowledge of financial popularization, application and development, and cultivate the modern financial concept of consumers. China Internet Finance Association, as a national industry self regulatory organization, has been actively advocating and practicing to promote the Internet finance knowledge to enter the campus and military camp, timely release risk tips for ICO, cash loan, virtual currency transaction and other situations, and help improve the digital financial literacy of consumers through public service advertising, website columns, knowledge reconstruction and other ways.

Although we have made positive attempts in promoting the construction of consumer digital financial literacy, and have achieved certain results, we should also clearly see that compared with the depth and development speed of digital financial innovation, consumer digital financial literacy in China needs to be further improved, and still faces some practical challenges:

The third aspect is to improve consumers digital financial literacy. Improving consumer digital financial literacy is a long-term and complex system project, which requires scientific policies from all parties, including the government, the market and the society. In this regard, I have three suggestions: first, strengthen the research on the theory and practice of digital financial literacy, do a good job in the linkage between government, industry, education and research, fully learn from international experience and research results, accelerate the promotion of core elements of digital financial literacy in combination with Chinas national conditions and financial reality, evaluate the basic requirements such as indicators, carry out the impact of digital technology on financial literacy, digital innovation in financial education, etc Practical research, to explore the digital financial literacy related content into all kinds of financial knowledge books and national financial literacy questionnaire. Second, build a multi system digital financial education pattern. It is suggested that the financial management department should take improving the digital financial literacy as an important part of the new round of national inclusive financial planning, clarify the work focus and division of labor arrangement, and include the digital financial education into the activities such as the financial consumer rights day and the financial knowledge popularization day. Industry associations should rely on forums, lectures, website columns, risk tips and other carriers to carry out in-depth popularization of digital financial knowledge and risk education. All kinds of employment institutions should continue to improve information disclosure, contract specifications, qualified investor identification and other systems, enhance the transparency of the whole process of digital financial services, and truly implement the sellers responsibility requirements. The majority of consumers should pay attention to the self-improvement of digital financial literacy, and establish the concept of buyers paying for themselves and taking risks on their own. 3. Promote the accuracy and digitalization of financial education tools, integrate the characteristics of digital financial service mode, wide coverage and high frequency, improve the financial literacy of digital users and the digital literacy of financial users as a whole, and carry out more accurate and effective digital financial education for different types of customers at the time of education, such as purchasing product financial consultation. At the same time, we should pay attention to the combination of online courses and offline activities, explore and develop digital tools such as knowledge websites, computing tools, price comparison software, financial and business online testing through the combination of education and professional training, and constantly improve the innovation and applicability of financial education. Dear guests, improving consumer digital financial literacy is a cause that needs the joint efforts and long-term contributions of all social forces. China Internet Finance Association is willing to work with all parties in the society to create a good digital financial ecology, continue to promote digital financial education, and constantly improve the peoples sense of access to and satisfaction with digital financial services. Thank you. Source: surging news editor: Zhang Meiyu nf2100

The third aspect is to improve consumers digital financial literacy. Improving consumer digital financial literacy is a long-term and complex system project, which requires scientific policies from all parties, including the government, the market and the society. In this regard, I have three suggestions: first, strengthen the research on the theory and practice of digital financial literacy, do a good job in the linkage between government, industry, education and research, fully learn from international experience and research results, accelerate the promotion of core elements of digital financial literacy in combination with Chinas national conditions and financial reality, evaluate the basic requirements such as indicators, carry out the impact of digital technology on financial literacy, digital innovation in financial education, etc Practical research, to explore the digital financial literacy related content into all kinds of financial knowledge books and national financial literacy questionnaire. Second, build a multi system digital financial education pattern. It is suggested that the financial management department should take improving the digital financial literacy as an important part of the new round of national inclusive financial planning, clarify the work focus and division of labor arrangement, and include the digital financial education into the activities such as the financial consumer rights day and the financial knowledge popularization day. Industry associations should rely on forums, lectures, website columns, risk tips and other carriers to carry out in-depth popularization of digital financial knowledge and risk education. All kinds of employment institutions should continue to improve information disclosure, contract specifications, qualified investor identification and other systems, enhance the transparency of the whole process of digital financial services, and truly implement the sellers responsibility requirements. The majority of consumers should pay attention to the self-improvement of digital financial literacy, and establish the concept of buyers paying for themselves and taking risks on their own. 3. Promote the accuracy and digitalization of financial education tools, integrate the characteristics of digital financial service mode, wide coverage and high frequency, improve the financial literacy of digital users and the digital literacy of financial users as a whole, and carry out more accurate and effective digital financial education for different types of customers at the time of education, such as purchasing product financial consultation. At the same time, we should pay attention to the combination of online courses and offline activities, explore and develop digital tools such as knowledge websites, computing tools, price comparison software, financial and business online testing through the combination of education and professional training, and constantly improve the innovation and applicability of financial education.

Dear guests, improving consumer digital financial literacy is a cause that needs the joint efforts and long-term contributions of all social forces. China Internet Finance Association is willing to work with all parties in the society to create a good digital financial ecology, continue to promote digital financial education, and constantly improve the peoples sense of access to and satisfaction with digital financial services.

Thank you.