Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Digital finance, platform economy guide future development

By Huang Yiping | China Daily | Updated: 2022-06-13 09:11
Share
Share - WeChat
Visitors examine a smart city system at an international big data expo in Guiyang, Guizhou province, in May. [Photo/Xinhua]

The platform economy, as an economic activity that leverages digital technologies, has had a positive impact on the financial sector as well as economic growth. Platforms and digital technologies have solved many of the challenges facing the financial system, especially in inclusive finance.

China has seen momentum in developing mobile payments, online investment, big tech credit and digital currency, which all play a significant role in driving inclusive finance. These areas are expected to play a critical role in the country's future economic growth.

To begin with, the platform economy has a great impact on the financial sector, which can be narrowed down to "three increases and three decreases".

The "Three increases" means that the platform economy has helped "increase business scale, improve efficiency as well as user experience". As the platform can offer services to many customers at the same time, costs are minimized so overall efficiency will naturally be enhanced.

Digital platforms also offer personalized services. With technological advances, these services will be much smoother, more convenient to use and more popular among consumers.

Just imagine, if mobile payments fail, users are less willing to use them. If 2G communication technology was still in use today, online payments and other web-based activities would be very inconvenient. Technological advances have therefore continuously improved the overall user experience.

The "Three decreases" refers to "reducing costs, lowering risks and minimizing contact". In terms of risk control in particular, user data accumulated by the platform will be very helpful to identify risks in advance.

Based on the above changes, digital platforms will also have a certain impact on the rules and even laws of economic activity and exchanges. It will make users more reliant on the platform itself, but the platform will also be closely related to the economy.

China first embraced the internet in 1994, which gave birth to the first internet company-Yinghaiwei. Since then, a group of internet giants like NetEase, Baidu, Alibaba, Tencent and Sina have emerged.

At present, the country's platform companies have developed quite well and are comparable to leading foreign internet heavyweights, thanks mainly to improvements in digital technology, market-oriented reforms, the large population and relatively independent market conditions.

However, the development of the country's digital economy also needs regulations, especially when it comes to personal data protection. Some platforms collect and analyze data illegally, which violates privacy and harms consumer interests.

This is also why in the past year regulators have taken a series of measures to oversee platforms. Such efforts aim to drive the platform industry to develop in a more standardized manner. From this perspective, the country's platform economy has broad development prospects.

To elaborate further, finance is an indispensable part of economic development. The biggest problem in the current financial development is information asymmetry, which can easily lead to serious systemic risks. An important function of the financial system is to reduce the degree of information asymmetry and improve the reliability of transactions, or what we call "inclusive finance".

Inclusive finance is increasingly playing a more critical role in China's economic development. On the one hand, the nation's economic growth has been very successful in the past years with an average annual GDP growth of over 9 percent. But there are many gaps between regions, problems with income distribution and operating environments for small and medium-sized enterprises.

1 2 Next   >>|
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 欧美重口另类在线播放二区| 国产人成精品香港三级在| 全黄大全大色全免费大片| www.91色.com| 西西人体www高清大胆视频| 成人免费毛片观看| 亚洲熟妇av一区二区三区宅男| 久久黄色精品视频| 插我一区二区在线观看| 你看桌子上都是你流的| youjizz大全| 无套后进式视频在线观看| 人人添人人澡人人澡人人人爽| www.黄色在线| 护士人妻hd中文字幕| 亚洲午夜久久久久久久久电影网| 色窝窝亚洲av网| 在线看片无码永久免费aⅴ| 九九热精品国产| 精品国产一区二区三区久久 | 91在线视频一区| 日韩欧美精品综合一区二区三区| 四虎一影院区永久精品| 97人人添人澡人人爽超碰| 日韩日韩日韩日韩日韩| 亚洲狠狠婷婷综合久久久久| 美国式禁忌矿桥矿17集| 国产精品水嫩水嫩| 久久777国产线看观看精品卜| 爱福利极品盛宴| 国产成人AV免费观看| 一区二区三区欧美视频| 欧美丰满白嫩bbwbbw| 啊灬啊灬别停啊灬用力啊免费看| 国模欢欢炮交150视频| 性xxxxbbbb| 亚洲国产婷婷六月丁香| 色综合久久天天综合绕观看| 国精品午夜福利视频不卡| 久久精品人人做人人爽电影| 男女久久久国产一区二区三区|