First, there is no pure online financial institution, and the existing online business is not large. The existence of pure online financial institutions is one of the criteria to judge the development level of online finance in a country. There are no pure online financial institutions in China, and online services are mostly provided through financial institutions' own websites and webpages. The business scale is limited, the income level is low, and it is basically at a loss;
Second, the online financial business has obvious primary characteristics. Most of China's online financial products and services simply "move" the traditional business online, and regard the network as a sales method or channel, ignoring the innovation potential of online financial products and services;
Third, the development of online finance is unbalanced. The networking degree of banks and securities industry is much higher than that of insurance and trust industry. This structural imbalance not only affects the overall promotion of online finance, but also may affect the stability and healthy development of online finance.
2. There is no effective unified planning.
Due to the lack of macro-planning in the development of online finance in China, financial institutions not only go their own way in the selection of development mode, investment in electronic equipment, network construction, etc., but also keep secrets and defend each other, resulting in the waste of information, technology and funds and the deformity of internal structure, which is not only unfavorable to the development of online finance, but also may bury unstable factors in the financial industry.
3. Lagging legislation
First, compared with developed countries in market economy, China's online finance legislation lags behind. In the 1990s, the United States promulgated the Digital Signature Law and the Uniform Electronic Transaction Law, which solved the legal problems of electronic signature and electronic payment. The Electronic Communication Law, which came into effect in May 2000, also confirmed the legal status of electronic signatures and electronic certificates, clearing the way for the development of online finance. There are few such laws in China, only the Interim Measures for the Administration of Online Securities Entrusting, the Examination and Approval Procedures for Online Entrusting Business of Securities Companies, and the Provisions on Encouraging the Use of the Internet for Trading, and only a few online securities businesses are involved. It was not until July 9, 20001year that the People's Bank of China promulgated the Interim Measures for the Administration of Online Banking. The regulations of this department are too simple, with few quantitative standards and poor operability.
Second, compared with the sound legal system of traditional financial business, the legislation of network finance is relatively backward. In the face of the development of network finance and the arrival of e-money era, it is necessary to further study, revise and improve the current financial legislative framework, and appropriately adjust the existing supervision methods of the financial industry, so as to play its supervisory and protective role and promote the positive and steady development of network finance.
4. Lack of patent awareness
With foreign financial institutions entering the competition of online finance in China, the weakness of China financial institutions is emerging, which is not only a technical problem, but also an awareness problem. Since 1996, Citibank has applied for 19 "business method" invention patents from China National Patent Office, most of which are financial services and systematic methods that are in line with the development of emerging network technology or electronic technology. The purpose is to control the core technology of e-banking and establish the leading position of online banking. Although China has not approved any patents it applied for, according to the principle of "priority in patent application, priority in authorization", once China has passed relevant laws and allowed to apply for such patents, banks in China will face difficulties in entering some markets, either paying higher patent fees, or being forced to withdraw, or even having to pay fines. Even if China does not authorize such patents, banks in China will have to face the patent barriers of Citigroup when they enter the United States or other international markets. As of 200 1, among 64 American patents obtained by Citibank, business method patents related to online banking accounted for 2/3. However, financial institutions in China do not have the concept of patent protection for financial products, let alone formulate relevant patent strategies.
5. Institutional obstacles are not conducive to deepening development.
The strict separate operation system implemented in China may reduce the risk of the whole system, but financial institutions can't disperse their own risks through diversified operation. The separate operation system has divided the business scope of various industries of online finance from the beginning, weakened its development potential, and affected or even inhibited the evolution of online finance in China. In addition, financial consumers can not enjoy all-round financial services brought by "online financial supermarket", which also causes great losses in the effectiveness of online finance.
Internet Finance Corporate Social Responsibility Self-discipline Alliance, recently hosted by Xinhuanet, "Outlook 20 15? The annual summit on corporate social responsibility of Internet finance was announced, and the white paper on corporate social responsibility report of Internet finance was released.
At present, with the development of big data, cloud computing, social networks and communication technologies, the innovation and development of Internet finance in China presents a diversified trend. The healthy development of Internet finance requires not only innovation, but also supervision and self-discipline. In order to guide Internet finance enterprises to effectively fulfill their corporate social responsibilities, the project "Self-discipline Alliance of Internet Finance Enterprises' Social Responsibility and White Paper on Internet Finance Enterprises' Social Responsibility Report" was launched at the summit. And released "20 14 ranking of public opinion attention of internet finance network" and "20 14 survey report on user experience satisfaction of internet finance online platform".