Innovation of Internet financial regulation should first be reflected in the change of regulatory positioning. Regulatory innovation to serve financial innovation, this point needs to be clear, so there is no need to be overly tolerant of things without substantial innovation, for example, a large number of P2P lending companies are famous but not real, relying purely on large-scale offline artificial ground push, playing only the game of money-grabbing, but at one time showed a dilemma of regulatory deficiencies; and for the revolutionary innovations, can not be regulated in the name of the practice of harboring the traditional financial institutions in practice, the name of regulation. For example, the third-party payment tools are widely popular, but in the past few years have been suppressed several times, harboring the traditional means of payment such as UnionPay suspicion. Jack Ma's call for "reverence for the technological revolution" is an inspiration for how to innovate in financial regulation, because innovation in financial regulation will inevitably come from the reverence regulators have for real financial innovation.

Based on the change of the original positioning, a fundamental landing point of the Internet financial regulatory innovation should be the improvement of regulatory capacity. In my opinion, there are two points to think about. First, labeled regulatory innovation, at least to achieve dynamic regulation, real-time regulation. The important characteristics of the Internet is fast, low cost, marginal cost is almost zero, Internet finance is equal to finance plugged into the wings of the Internet, which on the one hand means high efficiency, low cost, on the other hand, also means that if the business itself exists in a large risk, the accumulation and outbreak of risk will also be very fast, such as the P2P lending industry. The lack of clarity in the regulatory line has made the risk of P2P lending industry has been ignored for a long time, P2P is almost "stigmatized" after the aftermath of the regulation only came late. The regulation of Internet finance is different from that of traditional finance. As a financial form that is not fully mature but is developing rapidly, the former requires the regulatory mechanism to have a higher sensitivity to risks and a stronger sense of "time", so dynamic regulation is indispensable. In particular, we should take into account that some financial innovation products, such as Internet insurance products, the implementation of the post-filing system, that is, the insurance company in the innovation of an insurance product, can be put on sale before applying for the record, in this case, only real-time supervision by the regulatory authorities to achieve the tracking and control of risk.

Secondly, to improve regulatory capacity with innovation, we must attach great importance to the technical regulatory means represented by big data. Both finance and the Internet have a strong virtual nature, and both rely on technology to a certain extent, which contributes to the deep integration of finance and the Internet, but it also means that the regulator also needs to understand technology and use it. For example, in the insurance industry, as pointed out by Jack Ma, the future organization of insurance companies will undergo huge changes, and technical talents, especially big data engineers, will reside in a more central position, benefiting from which insurance products will not be standardized and scaled, but will be different from person to person and even from time to time. This intelligent product in turn puts forward requirements for the technical ability of supervision, for which the Insurance Association has strengthened its efforts to extend professional and technical talents - at the 2016 China Insurance Industry Development Annual Meeting, the Chief Expert Group of the Insurance Association of China, composed of ten experts, was formally established, and the Chairman of the CIRC, Mr. Xiang Junbo, personally issued a letter of appointment. Among them, Chieh Yuan, vice president and chief data scientist of Ant Gold Service, was appointed as the chief artificial intelligence expert. It's unprecedented for the insurance industry to place so much emphasis on people with technical expertise.

It should be said that innovation is as important in the regulatory field of Internet finance as it is in the practical field, and without innovation in the regulatory field, innovation in the practical field will be out of shape or suppressed. From a global perspective, Internet finance is a wonderful opportunity for China's financial industry to overtake the car, regulatory innovation only to the technological revolution with reverence, and keep pace with the times, so as not to slow down the development of Internet finance.

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