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Development of Finance in China

The winter of Internet finance is comingDafy Holdings(01826)How to Cross the Long Night

Date: 2018-07-30

On July 27, the second National Financial Science and Technology Summit Forum 2018 was held in Beijing, aiming at promoting the construction of financial science and technology ecological environment and financial security, and restoring the confidence of compliance enterprises.

At present, the volume of Internet financial transactions has exceeded 6 trillion yuan, and the number of users exceeds 50 million. All kinds of data give a clear signal that the Internet financial industry is still developing. Although the successive P2P 'explosion' since June this year has opened another round of industry shuffling, it is also an opportunity for compliance enterprises to grow into industry leaders.

Lu Xin, president and CEO of Dafei Technologies Holdings, said: 'With the advent of the cold winter of Internet finance, only enterprises with weak wind control ability and inadequate financial technological innovation ability in the past reckless era are frozen to death. Only by embracing supervision, adhering to the road of compliance, focusing on risk management, can we survive the winter steadily. On the other hand, it can survive under strong supervision, which is undoubtedly a strong endorsement for Internet financial enterprises.

Dafei Group has proved its CEO's point of view with practical action. As a leading platform of consumer finance, financial technology has become the main innovation of Dafei Group. At this summit, Dafei won many awards for years of intensive cultivation in the Internet financial industry. Dafei Technology Holdings, Dafeiyun Credit and Dollar Harbour won the 'Excellent Enterprise Award', 'Excellent Brand Award' and 'Innovation Case Award' respectively.

Wang Jing, Vice President of Dafei Technology Holdings and CEO of Hong Kong Dollar Bay, believes that the current mutual fund industry is experiencing a pain of industry regulation and integration.

According to the data of online lending home, as of the first half of the year, there were 1836 online lending platforms still in normal operation. Since the special renovation of Internet finance, a total of 5074 practitioners have withdrawn. Combined with the recent changes in the P2P industry, we can see that this is the time when risks are speeded up clearing and the industry shuffles.

In this period of shuffling, opportunities will always outweigh challenges for truly powerful and compliant enterprises. In the process of sand-washing in the big waves, the last one that can be saved will surely become a real giant enterprise.

Among them, risk management and risk control are the key to ensure the normal operation of the platform. According to Lu Xin, Dafei has set up a complete risk management system and a wind control and monitoring system covering the whole process of pre-loan, loan-in-loan and loan-out. It also uses big data to control the demand and risk of various scenarios and strives to balance risks and benefits to the maximum extent.

In addition, Dafei has also introduced elite talents from well-known network companies, financial companies, banking institutions to ensure that real and legal risk control provides a reliable basis; and relying on the strength of science and technology and finance, it has completed the three-level verification of national information security level, further strengthening the management of wind control at the technical level.

In the future, with the further improvement of industry compliance, few Internet financial platforms will survive. Take the UK P2P industry as an example, there are only 8 P2P platforms for members of the UK P2P industry self-regulatory organization, P2PFA. And this very few mutual fund platforms will divide up the huge mutual fund market.

According to the Statista survey, the value of assets and transactions managed in the global financial technology sector has grown rapidly. In 2018, the transaction value of US financial technology companies will be about 128.044 billion US dollars, and in 2022 it will reach 2.15 trillion US dollars. China's financial technology is developing more rapidly. In 2018, the transaction value of China's financial technology companies reached US$156 million, and the growth rate of transaction value is expected to reach 22.7% in the next five years.

The development prospect of Internet finance is still bright, and this huge market cake belongs only to the leading company coming out of the shuffling period, among which Dafei Group is one.

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