Liao Wenping: Internet finance is doing better than doing it differently

Securities Times Network (www.stcn.com) January 28 News of a financial change due to the intervention of the Internet to accelerate the brokerage commission on stock trading commissions a few years ago has begun, but the real impact may have just arrived. Liao Wenping, chairman of Darbond Securities, said that under the impact of Internet finance, the protection of brokerage fees for brokerages is not necessarily a good thing, but it lowers the immunity in the greenhouse. He said that over the past few years the structure of the brokerage's income has changed markedly, and commission income is no longer as high as ever. In the advent of the Internet financial era, instead of thinking about how to "do It Better", consider how to "do it differently". January 15, the balance treasure scale breakthrough 250 billion yuan, Tianhong fund management assets scale immediately exceeded the industry leading Huaxia fund, which let the coupon industry no longer dare to despise internet finance. "I couldn't read or look at internet finance, but recently I was worried about how the financial institutions were killed." Shaoyu, chief economist for Oriental Securities, said the internet had accelerated the industry revolution, and that financial institutions must embrace that change, or they would be eliminated if they continued to disagree. Recently, Liao Wenping, chairman of the German state Securities, wrote the book "Internet Finance" published, he at a book conference to share his personal views on the Internet finance. He said that internet finance, such as balance treasure, first with public offering fund cooperation rather than brokerage, that is mainly because the securities brokerage asset Management has the nature of private placement, the most direct impact on brokerages may come from trading Commission pressure. Liao Wenping said that, looking back, the brokerage rate level will sooner or later split. On the one hand, there is a general decline in commissions for active trading customers who do not need to provide additional services, and for high-end customers who need to provide high-value services, trading commissions may not only fall, but may also rise. Therefore, the simple protection of trading commissions is not necessarily a good thing, just as children will have to experience the wind and rain, in the greenhouse instead of reducing immunity. This is a question of choosing to endure pain in the short term or "boiled frog in warm water". He said that the current Internet financial players have three main categories, the first category is the Internet companies, such as Alibaba, Tencent, Baidu and so on; the second category is the start-up companies, such as net loans (Peer-to-peer), public financing, and the third category is financial institutions. "But the future will not be clear to each other and you and I, the Internet and financial integration, the boundary is not clear. Regulation is a good way to regulate the subject itself of the financial institutions, regardless of who the shareholders are. Although the Internet finance has not entered the securities brokerage sector, but the future is not impossible, and even the online matchmaking platform. Why the Internet can go to the financial sector to disrupt? On this issue, Liao Wenping said, "Barefoot not afraid of shoes," the domestic credit system is not perfect, coupled with the requirements of regulatory differences, Internet financial irregularities are far less expensive than the financial institutions holding licences. This is also a number of internet companies can impact on finance, but did not have a clear advantage in E-commerce and other areas of the cause of a new round of major changes. Alien IntrusionTo bring about subversive changes, Liao Wenping that this is the difference in thinking patterns. "The old thought to do better, in fact, is a misunderstanding." "In the past, financial institutions have been trying to think about how to do better on the basis of others, but less about how to do it differently," he said. And with the advent of internet finance, instead of blindly wondering how to "do It Better", consider how to "do it differently".