Compared with foreign countries, "cloud" is still very small in China

With the rapid development of the financial industry, financial informationization has also been widely developed. The basic functions of banks, such as payment and settlement, financial intermediation and transfer, risk management, and information inquiry, are all also being changed by the widespread application of information technology . These various ways of realization are also important tests on the research of financial information. Let's explore some of the issues below.

"Cloud" is not a disaster nor is it a technology that packs the world

When a reporter asked Professor Chen Zhong: The information age, cloud computing has become a hot topic. So how do you understand the scope and philosophy of cloud computing?

He replied: cloud computing to understand from several levels, from a technical understanding of it is a development of computing models, emphasizing the flexible allocation of computing resources and services, which involves many technological innovations and applications, such as virtual Technology, XaaS and more. Compared to the past mainframe computing, personal computing, grid computing, etc. have their technical characteristics. At present, the publicity on cloud computing in the mass media is more from a non-technical perspective. Taking cloud computing as a new way of service-oriented bearing and thus forming a new business model of Internet service. Therefore, cloud computing to discuss different issues from different contexts, mainly to see which aspect of the need to apply it. At present, the categories of cloud computing can be roughly divided into two categories: one is the use of cloud computing technology to achieve their own business processes, such as Google's many businesses have used cloud computing technology, domestic enterprises such as Baidu, Alibaba is also the main cloud computing Application, some anti-virus software companies known as "cloud killing" can also be classified into this category; the other is based on cloud computing technology to provide internal or public computing resources, such as the United States, Amazon is a typical computer rental service providers, However, users rent a virtual computer and use it over the Internet, and there are many forms of computing resource services such as storage and various application software. In China, Internet of Things and cloud computing are hot topics now, but in fact the development of cloud computing is still weak in China. Internationally, the backbone enterprises doing cloud computing have huge "clouds" that keep running everyday. Most enterprises in China talking about "cloud" are conceptual conceptions. Some people say that if there is no operation and maintenance management over 10,000 Taiwan machines do not talk about "cloud", which is very realistic in foreign countries based, so there is a big gap between domestic and foreign in this regard.

Reporter: Some cloud computing technology has now landed. But in some areas the use is still almost zero. Do you think "cloud" will eventually become a catastrophic bubble? As far as I know, the application of "cloud" in the financial industry is very low. How do you think about this problem?

Chen Zhong: It should be said that the background of cloud computing from the technical and business models have a practical basis. Needless to say, the business model can be traced back to the fact that after Amazon Internet bubble burst in the United States, when a large number of machines were idle, it thought of using this part of the resources for rental to other people in need. This "on-demand rental, according to the amount of charges," the model was accepted by the market, not only a large number of normal users to hire, including hackers, WikiLeaks organizations also leased. This business model has also technologically advanced cloud computing, giving SMBs the ability to "outsource" storage and computing without having to build and manage their own large computer systems themselves, with the benefits of cost savings and increased utilization.

Cloud computing has a very accommodating industry, such as Google, an Internet application services company can not live away from it. However, such as the financial sector may not be suitable, and now whether it is foreign or domestic banks, large hosts occupy the dominant position, it has a conservative factor in the industry, but more to adapt to the characteristics of the financial core business processing. The financial sector is not without considering new technologies, such as the data center now, which takes into account the virtualization, storage management, a lot of technology in the cloud computing also appeared, but not called cloud computing. Such as IBM's mainframe is done for the financial business designed, but it is also now expanding to "cloud computing." So, "cloud" is not a catastrophe, nor is it a world-class technology that will play the best role in the industry where it works best. In its non-adapted industry, its application will be slower, less. The mainframe has its own uniqueness in the financial core business, and it is unlikely that the cloud will replace it. With the development of technology, new changes will occur in a variety of calculations. Therefore, "hybrid computing" is used to summarize the current coexistence of a variety of computing methods and coordination more appropriate.

Credibility and security are two important factors in the development of cloud computing

Reporter: Is security also a challenge to cloud computing? In particular, open public cloud how to ensure its security and privacy?

Chen Zhong: cloud computing there are two very different concepts, one is credible, one is safe. Secure technical support has a complete system that covers a series of processes from infrastructure to the platform to the application to the customer to the management. Credibility is not a purely technical concept, it contains the concept of management and contract. The problem of trust is not what happened after the emergence of "cloud", there are many things in life. If there is a strong sense of trust, then cloud computing third-party services will grow rapidly. Of course, this credible not only requires legal support, but also requires some security technology to do the support. If security technology is not in place, much trust can not be established. If you face these two problems can be a good solution, then, to promote the development and application of cloud computing is of great help. There is also a concept of privacy protection is also directly related to public cloud applications, but so far China's privacy protection legal system has not yet established and perfect. In China, citizens of different ages and education levels have different understandings of privacy, and some are even willing to "bask" personal information about themselves and others. Involving national interests or the interests of enterprises, it is no matter how much it costs to protect.

Reporter: In the process of information construction in the financial industry, business structure and risk management should be two key points. What do you think of these two points?

Chen Zhong: Financial industry risk control in terms of regulatory requirements or the awareness of the enterprise itself stronger than any other industry, it also has some international laws and regulations to restrain. The financial industry now has a very strong dependence on IT technology. Whether the rationality of IT system architecture can ensure the continuity of business, whether it can quickly and effectively support the after-sales audit of business regulation, intervening events, and ex ante prevention Are all issues considered in the information security risk prevention system of the financial industry and are as important as the financial security of the banks.

Grasp the need to use proven technology to ensure system stability

Reporter: As an expert in the financial industry, how do you view the future direction of the financial industry?

Chen Zhong: In China, the construction and development of the financial information system of the central bank and other commercial banks is in step with the establishment of the modern financial system in China. The development of information technology in China's financial industry is not long yet, but the speed is still fast and many landmark achievements have been made. For example, the means of payment is now very rich and very convenient, which is inseparable from the banking infrastructure construction. 95 years ago there is no means of electronic payment, payment by check, money order, telegraphic transfer payment, etc. is very simple, very inefficient. After 95 years, with the help of the Central Bank, a cross-bank financial network and a modern payment and settlement system have been established, and modern means of payment are gradually popularized. In addition to bank-oriented online banking services for businesses and individuals, third-party payment has been promoted. Until now, the market-based competition in online payment and settlement services has made payments more diverse. China's entire financial industry regulatory system, operational safety and other aspects are actively and steadily.

In the future, the strategy for informatization of China's financial industry will be clearer: grasping the demand and using proven technologies to ensure the stability of the system and prevent social problems.

Reporter: Many foreign banks now have branches in China. How can these banks ensure their own safety?

Chen Zhong: After China's accession to the WTO, the financial industry is also one of the open industries. The door for foreign banks to open their businesses in China is open. With the progress of the reform and opening up, China has also gradually adjusted its establishment of industries and functions in line with its management. From a regulatory perspective, China's CBRC, CIRC and China Securities Regulatory Commission exercise some state regulatory role in the industry. Foreign banks or their branches in China also need to comply with the corresponding laws, regulations and regulatory requirements in China. From an IT point of view, some foreign banks may be branches of the head office, its information processing centers are not located in China and some may have moved some important functional departments to China. Similarly, Chinese banks are also expanding their overseas operations and must also meet the laws, regulations and regulatory requirements of their host countries. Compared with the developed countries, I think our country is still relatively crude now, but we are constantly exploring the management experience. Our center also conducted cooperative research projects in related fields with the People's Bank Research Bureau, China Banking Regulatory Commission and relevant commercial banks. Deepen the research and analysis on the relationship between business and information technology in laws and regulations, the market, regulation and application of information technology, and promote the simultaneous progress of industry informationization and regulatory system. I believe that China's financial information and supervision will steadily enter the advanced ranks of the world.

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