Big Data finance will help China's economic restructuring and upgrading

Recently, China's financial reform policies have been intensively promulgated, macro-level financial reform from the concept to action began to accelerate. So what should the micro-level financial reform practice rely on?


Many experts in the recent "innovative financial data decision driven Economic Green Transition" forum held in Lanxi, Zhejiang Province, said the financial reform driven by large data can alleviate the financing difficulty of small micro-enterprises, promote the escalation of information consumption, accelerate the support of private capital to the financial industry, and prevent financial risks more sensitively, Become China's economic restructuring and transformation of the strong momentum of the upgrade.


for small micro-enterprises, a major challenge to their financing is the risk control requirements of financial institutions such as banks. Small micro-enterprises because of small-scale business, their credit risk information is vague, making banks reluctant to lend. With strong information resources and risk perspective advantage, large data finance will help to solve the financing dilemma of small micro enterprises.

At the beginning of August, the State Council issued the
on financial support for small micro-enterprise development, supporting small micro-enterprises financing. "Views" to support small micro-enterprises financing advice, including speeding up the enrichment and innovation of small micro-enterprises financial services, efforts to strengthen the small micro-enterprises in the letter-adding services and information services.


"A financial institution based on large data application can solve the problem of asymmetric information between financial supply and demand in the financing process of small micro-enterprises by using the channel advantage of Internet open platform and data mining." Cheh, deputy general manager of BOC International Securities Asset Management Department, said that with large data as a reference to credit risk, small micro-enterprise loans would be very convenient.


In addition, large data can enhance risk transparency, enhance the predictability and management of risks, reduce the cost of financing of small micro-enterprises, and strengthen financial institutions ' risk management incentives for small micro-enterprises to lend.


In addition to helping small micro-enterprises to finance, with large data-driven service innovation can effectively enhance the financial products and services consumption, promote information consumption, expand domestic demand.


with the August State Council issued "on the promotion of information consumption to expand domestic demand", decided to speed up the evolution of information infrastructure, enhance the capacity of information products supply, and strengthen the construction of information consumption environment.


the diversification of information consumption demands higher demands on financial services. Tan Yaling, president of China Foreign Exchange Investment Research Institute, said: "Large data support service innovation, emphasis on customer-centric concept, through the customer consumption behavior model analysis, improve customer conversion rate, develop different products to meet different customer market demand, thereby promoting consumption, boosting domestic demand." ”


The representative of large data finance Internet finance is pushing China's financial reform continuously. The typical representative of Internet finance Alibaba fully utilizes the large data resources accumulated by its platform, transforms the massive transaction data into financial business opportunity, from "Alipay" to "balance treasure", and realizes the accurate financial service through the deep excavation of large data.


at present, the interest rate marketization reform of China's banking industry has already started, on the one hand, interest rate marketization means that the extensive traditional business model of dependence spreads is unsustainable, fine management becomes the important direction of banking transformation, on the other hand, interest rate risk has become a difficult problem to hinder its marketization reform.


"Deep information Mining and value analysis based on large data will effectively enhance the risk pricing ability of banks, calculate the cost and profit of each business, product and even customers through precise means, speed up the transformation of business and management fine, and effectively monitor interest rate risk." "Tan Yaling said.


, deputy director of the decision Consulting department at the National Administration College, Chen Bingcai that large data finance has great value, but at the same time there are some risks. The financial industry itself is the risk industry, the relationship between personal life and national economic development, the Chinese economy needs to restructure and upgrade, in this critical period, guarding against systemic financial risk is the bottom line.