Zhang Weigung: Internet grassroots Finance cannot replace real internet finance

The "Tsinghua Five crossing Global Financial Forum" was held as scheduled in Beijing from May 10, 2014 to 12th. In the forum, Sun Insurance founder, chairman of the Zhang, said that the Internet grassroots finance can not replace the real internet finance, and the real internet finance must be the entire industry chain of internet finance operation and infiltration, but now is only a fur thing.

The following is a transcript of guest speeches:

Zhang Weigung: Internet finance is now a hot topic, since last year I have heard too much, but I do not know what to say, but I think the previous speakers are very good, and I do not want to start talking about the hot issues of the Internet, I would like to talk about some of my basic views.

At present in the financial field, it can be said that there is never any new thing has reached the heat of internet finance, we all know that the essence of finance is money and credit, and the spirit of the Internet is equal, open, collaborative and sharing. These two things come across a piece of this hot reason, is now gradually strong Internet must be involved in the commanding heights of the economy. It is that our financial industry is not so equal and open. Therefore, I think this should be the crux of the problem. For the hot issues of the Internet, do not want to speak more, I would like to say the following three points of experience and views. First, the Internet should be further humanized; second, the essence of internet finance is finance; third, the spirit of the Internet is great.

The internet should be more human, because the advent of mobile interconnection makes the internet really long wings, flying to the sky, beginning bird's-eye view, contempt for everything, its essence is the integration of human machine, so that mobile phone rich life, mobile phones become human visual, tactile and entertaining organs, more of this organ people realize more information exchange , convenient for the purchase of goods, convenient payment of money, enjoy more fun games. Many years ago, the primary school students also pulled to the micro-letter group, a lot of new friends countless, more than a lot, party more, dinner more, now if there is no eight provisions, I believe that the advent of mobile internet era, the restaurant industry must be extremely rapid development.

To what extent is it now? Some people may not look in the mirror one day, do not wash feet, three days ignore the wife, a few months do not read, but almost no one day do not watch mobile phone. We look at the students in the class, meeting colleagues, table party, train and subway passengers in the same movement, are playing mobile phones, look at information, especially busy and very popular friends, every day before bedtime this is also necessary action.

Do not know that because of playing mobile phone our eyesight is falling, the biological clock in disorder, sleep quality is falling, human health has never suffered such a major blow. I'm not sure if the conflict between doctors and patients in the last two years is directly related to the rapid development of mobile Internet. But people have never complained about the impact of the internet on us, like pollution and smog. Because it's more fun. What is more important is that every piece of information seems to have value, every box wants to open, in fact, found that there is little value. We call golf "green opium", but we did not find that opium has a lot of side effects, we really did not find. But the internet's mobile phone opium harm is not necessarily less than the 1840 Opium War, but it must be greater than the impact of national mahjong. Certainly not as good as playing mahjong and play mobile phone people more influence.

100 years ago we were lying on the opium, we are standing every day playing mobile phone opium, it is important that those who smoked opium than today's people who play mobile phone is much less. In this case, a man named Ray Kurzwell in the United States wrote a book called "The Singularity near," saying that 2045 all artificial intelligence will surpass human beings, so we are now very alarmed about the Internet.

Openness, equality, collaboration, sharing, free, customized, extreme experience, this is how human words, all information, all products are in the tease people sensitive nerves and fragile hearts. When people are immersed in the so-called innumerable points of happiness and excitement, they will begin to fail and decay. I believe that every internet vendor in the interests of customers, they are willing to lose money to let customers, reflecting the human nature of thinking. But the overall result in many respects, especially to the human body and life cycle of encroachment is against humanity and anti-humanity.

Therefore, I strongly call on internet companies should develop more to avoid harassment information, avoid duplication of information, the ability to choose Personalized information function software, as far as possible with the least amount of time to obtain the most valuable information to meet the needs of personalized choice, so that we can free more time, enough sleep, exercise, reading books, To achieve our Chinese dream.

The essence of Internet finance is finance, no matter which step the Internet develops, the essential characteristics of bank insurance, securities, trusts, futures, capital management, wealth and so on will not be changed. Because the internet itself will never and cannot create finance. But the internet is just trying to change the game of finance. The cultural essence of finance and Internet is opposite, finance more emphasis is rational and cautious, and the Internet is free and open. There is a line in the card house where rationality and irrationality complement each other, and the power will be much smaller, using it to describe today's mobile internet as appropriate. Internet finance is more appropriate.

While both finance and the Internet are strong, the world will change when rational and prudent finance and free and open Internet are truly fully integrated. The biggest cost of finance is labor and transaction cost, this is the Internet has a unique advantage. When we put the huge labor transaction costs to a minimum, and to the benefit of customers, the social real economy will increase vitality, the financial strength of the geometric multiple amplification, this is no doubt. But the Internet grassroots finance can not replace the real internet finance, the real internet finance must be the Internet finance in the whole industry chain operation and infiltration, now this is just a fur thing. When I was talking to President Ma, I was talking about the balance, treasure, and so on. These things actually 95% of all bought the money fund, the money fund basically is deposited in the bank, actually is to move a deposit place, this is not called finance. All things are fur, and the real financial penetration is 108,000 miles away.

We say that the real internet finance is not simply to buy a class of deposit products, at this point I particularly need to explain that we can think of a very important question. For now, the financial Internet is very hot, the real concern is the Internet and financial people, of course, this is undoubtedly. But there is a particularly interesting problem is that I think that the financial people's understanding of the Internet may be faster than the internet on the financial knowledge of the speed of too much, now for example, we have to test, do not talk about technical issues, the understanding of the Internet concept, finance is not necessarily worse than the Internet. If the idea and knowledge of financial examination, there may be a greater gap. This is completely different. The direction of internet finance should be very clear. Now the so-called product is very hot, can only explain one problem, China's financial is not well-developed, many of our capital, especially bank deposits have not really achieved market. This problem is not a problem at all, it will soon be resolved, which has nothing to do with the internet itself. Why the U.S. Internet financial grassroots is not so strong, in fact, it developed financial so that people do not need to go, in turn, our real internet finance must not be misled by the surface of things, we must really penetrate the Internet finance in all areas, it is very important.

Google's leaders have said that banks are fiercely competitive and have low margins, and there is no reason for Google to get involved in this difficult and not necessarily lucrative field. This shows that the United States such a financial market is very developed countries, their understanding of the financial Internet is fundamentally different from ours.

I said in the company, the most complex in finance is insurance, but everyone may have the least knowledge of insurance. After 10 years, the insurance should be the customer's own design product, we should put the risk factor is very clear, let it fragmented, and then our future claims do not need to claim, customers can help themselves, with this network is fully achievable, customer self-help claims, he can be more assured that customers more trust, we cost less , these thoughts have penetrated into our veins in the financial enterprise. I firmly believe that 10 years from now, if China has 10 great internet financial enterprises, at least seven are the existing financial institutions for the penetration and development of the Internet, there may be three of the current Internet companies, the most important thing is they through the acquisition and establishment of financial institutions to achieve and achieve. Otherwise there will be no real internet financial enterprise. Because without the knowledge of financial talent and financial risk, there will be no real internet financial enterprise. The financial Internet, which lacks the principles of risk and prudence, also means the collapse of the financial system in the foreseeable future.

The idea of the Internet spirit is very great, equality, openness, collaboration, sharing of the Internet, the ultimate experience and platform thinking is the pursuit of the essence of the Internet, large data, cloud computing widely used, is unusually great. Internet thought is great, to now I have not found more than the idea of the Internet thought, it represents the trend of human progress and civilization, more importantly, the Internet thought to promote social civilization progress, is an important driving factor, but this need not only financial talent, Also need the Internet people to commit and realize the spirit of the Internet. They advocate the culture and spirit of equality, openness, cooperation and sharing, which are of great significance to the progress of society. But are internet companies open? Last year when I was talking with Ma Yun, I said you gave me a micro-letter, we both use micro-letter, no cell phone, he said I will not tune this thing. I did not care about this matter, then 360 of Zhou 祎 to my office, I said we change a micro-letter, he said not this thing, he is very real. So they also have a strong sense of risk, also need to constantly open.

In this sense, the whole society, including financial management, should be more tolerant and supportive of Internet applications and practices. As a financial enterprise can penetrate the spirit of the Internet into all aspects of the enterprise, and put into practice, I believe it will become a great financial enterprise.

Here, you must know that I am not a dissenting advocate, in fact, I am a staunch supporter of internet finance. I set up 5 Internet development teams within the group last year, including 3 groups, insurance and life insurance, and launched thousands of micro-groups within the company. I also have nearly 100 micro-groups on my phone, which has also become a huge victim. I highly appreciate that the Internet not only to the humanization of products, but also to meet the human function and health needs of humanity.

Finally, to say a word of hope, hope and wish five crossings Internet financial research results can lead China's financial Internet to the right direction of development, thank you!