Recently, the People's Bank of China and other relevant departments conducted regulatory interviews with three leaders, including Jack Ma, the de facto controller of the Ant Group, and then the Ant Group announced the suspension of its listing on the Hong Kong Stock Exchange. Group announced the suspension of listing on the Hong Kong Stock Exchange. On the same day of the interview, the relevant state departments issued two regulatory measures on the network of small loans, the CBRC experts named Ant's Chanting and other financial products "tend to form excessive credit, with the scene induced *** with the stimulation of excessive consumption, making some low-income people and young people trapped in the debt trap, and ultimately damage the rights and interests of consumers, and even to the family and the community to harm ".
After the news release, many netizens said: they are trapped in network debt repayment cycle for a long time. According to the Ant Group prospectus document, micro-credit for individuals and micro-enterprises is its main business, accounting for 34.7% of total revenue. Not long ago the state released the "young people's consumption life report" shows that in China's nearly 170 million post 90s, an average of every 4 post 90s have one person using chanting. Now, Ant Group has been interviewed by the state and delayed its listing, indicating that in the view of the authorities, Ant Group should play a better leading role in the process of innovation and transformation in the financial sector. The company's newest product, the "Chanting" product, is not as innocent as it may seem, but it has played a role in pushing the envelope.
In the past, it was only through friends and family or loan sharks that the problem could be solved. But the emergence of online microfinance for the people is equivalent to building a road that can make it easier for us to walk. However, on this road, there are thieves who rob on the road, and there are also vehicles that crash into pedestrians at high speed. The "double eleven" "618" major e-commerce festivals almost every month to let you carnival, from Taobao to Alipay a dragon let you ride on the consumption of high-speed express, but also in a certain degree also exacerbated the personal debt crisis.
The Ant Group is positioned as a technology and finance company, but in essence it's an online lender that relies on big data to paint a picture of the user and reap the rewards of low and middle-income consumption. Led by chanting, an endless stream of online lending products have taken root on the Internet. With the high profitability of online lending, online lending advertisements are now appearing on any app. "Consumerism is all the rage, and with such easy access to credit, few of us have the self-control not to overspend and overconsume. However, once we fall into the "debt to debt" cycle, we have really become a network loan high profits "workers". Experts from the Consumer Banking Regulatory Commission (CBRC) said that finance is an important cause of social polarization, and that financial services attackers carry out predatory lending and use technological means to mislead financial consumers, making the poor poorer and the rich richer.
And, even for the convenience of the public, the risks in finance cannot be ignored. Drawing on the two major crises in the United States, especially in 1929, the state of too much leverage on too many loans, once the financial market mutated, leading to a huge crisis will only make more innocent people shot. Even more than bank loans fast and convenient online lending, invariably is to improve the leverage of the country's residents. Therefore, ants such as "financial technology" is not enough to truly benefit the country and the people, should realize that financial security in the financial innovation on top of the pursuit of innovation should be in the supervision.
Ant Group listing storm involved not only the country's major banks, but also every one of our network users, online lending to the times to bring opportunities at the same time also hides a huge crisis. Users in a relatively vulnerable, if there is no clear knowledge, to protect themselves in the Internet storm clouds, face the future will have a few grasp?
Article / Wang Yanmei (Chang'an University)