www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Opinion

Internet financing boom

(China Daily) Updated: 2014-04-10 07:22

The success of online wealth management products such as Yu'ebao has pushed Internet financing into the spotlight and it even appeared in the government work report in March this year.

The root cause of the flourishing Internet financing in China lies in the deficiencies of its traditional financing products, which fail to meet market demand, says a Beijing News column.

Internet financing boom
Internet financing boom
Internet financing has also been flourishing in developed countries such as the United States - P2P financing, crowdfunding, and Internet insurance instruments have all emerged. However, they are small in size compared to Yu'ebao's more than 500 billion yuan ($80.5 billion). It is clear that Internet financing is especially popular in China.

That seems strange considering the fact that the US takes the lead in both the Internet and financing. But it can be explained by China's underdeveloped traditional financing products, which do not meet people's needs.

For example, Alipay as China's third-party payment service emerged as China's most popular on-line shopping payment choice because traditional banks had complicated procedures and lacked security guarantees. With Alipay, on the other hand, people can conveniently and safely use credit cards online. Another online financial product, Aliloan, which provides credit loans to small- and micro-sized enterprises, experienced fierce growth because China does not have enough small financial agencies to do the job.

The tight control over interest rates has led to similar success for online wealth management products. China has a tight control over deposit interest rates, which is 0.35 percent a year for current accounts and 3 percent for one-year deposits; however, the basic interest rate for loans is 6 percent per annum. Yu'ebao has used the opportunity to attract money from depositors by offering an annualized return of around 6 percent.

Yu'ebao has already accumulated over 500 billion yuan, which is about 3 percent of China's total personal current accounts, and it will continue to attract funds if the current control over deposit rates is not lifted.

It is the deficiencies in traditional financing that led to the Internet financing boom in China. That also tells us there is a huge demand for proper financial products in China and there should be deeper financial reform.

Internet financing boom
 
 

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 综合久久久久久中文字幕 | 农村寡妇一级毛片免费看视频 | 日韩在线观看中文字幕 | 亚洲成人综合网站 | 亚洲第一中文 | 日产一区2区三区有限公司 日产一区两区三区 | 一级美国片免费看 | 色久激情 | 免看一级a一片成人123 | 高清毛片aaaaaaaaa片 | 99久久亚洲| 草久在线观看视频 | 欧美特黄视频在线观看 | 久9青青cao精品视频在线 | 精品欧美一区二区三区免费观看 | 国产一级做a爰片在线看免费 | 日本国产欧美色综合 | 国产成人www免费人成看片 | 亚洲国产第一区二区香蕉日日 | 国产成人亚洲日本精品 | 俄罗斯a级毛片 | 亚洲精品免费观看 | 免费国产成人 | 亚洲情乱 | 久久久久久一级毛片免费野外 | 97在线视频免费播放 | 欧美激情免费观看一区 | 国产欧美成人xxx视频 | 精品日韩欧美一区二区三区 | 在线观看免费黄色网址 | 在线观看国产精品日本不卡网 | 日韩精品免费看 | 亚洲女精品一区二区三区 | 久久精品中文字幕一区 | 精品久久久日韩精品成人 | 精品伊人久久久久网站 | 免费视频一区二区 | 国产一区二区三区在线免费 | 久久国产精品夜色 | 全部免费a级毛片 | 久久久久无码国产精品一区 |