Internet Finance: Concepts, Factors and Ecology (The Great Transformation of China)

This book summarizes recent Chinese discussions about Internet finance-a new financial business type resulting from an innovative thinking under the new normal-in the light of the actual situation of China in transformation, especially the thirst of the grass-roots economy including medium-small and micro-sized enterprises as well as residents for financial services. The Internet finance is of great significance for optimizing and upgrading the industrial structure, improving the demand structure and reshaping the economic growth mode in China. This book will interest scholars, journalists, and businesspeople.-- Provided by publisher Series Editor’s Preface The Year 2020: A Historic Choice of Economic Transformation and Upgrading Preface Contents List of Figures List of Tables 1 New Thinking on Dangerous Situation: A Great Power in the Transformation 1 Formation of China Model China’s Industrial Structure China’s Demand Structure 2 When China Model Encounters Financial Crisis 3 Transformation from Old Model to New Economy 4 Dilemma of the Financing System Features of Existing Financing System Financial “Inhibition” of Small and Micro Economy 5 Digitized New Thinking 2 Uncover the Truth: Ecosystem of Internet Finance 1 The Origin of Internet Finance 2 The Concept of Internet Finance 3 The Core Elements of Internet Finance Big Data Low-cost Transaction Convenient and Efficient Customer Experience 4 The Ecosystem of Internet Finance 5 The Influences of Internet Finance on Traditional Financial System 3 Vanguard of Internet Finance: Third-Party Payment 1 The Definition of Third-Party Payment 2 The Development History of Third-Party Payment Gateway Payment Pattern Stage in 1998–2002 Great Leap Stage of Third-Party Payment in 2003–2009 Stage of the Coexistence of Normative Development and New Business Type Since 2010 3 The Development Status of Third-Party Payment Number of Third-Party Payment Companies Third-Party Payment Scale Internet Payment Mobile Payment 4 The Business Model of Third-Party Payment Secured Transaction Pattern Independent Third-Party Pattern Vertical Industry Payment Integrated Industry Payment 5 The Influence of Third-Party Payment 6 The Risks and Supervision of Third-Party Payment Risk of Third-Party Payment Supervision for Third-Party Payment 7 The Development Trend of Third-Party Payment Diversification and Deepening of Payment Fields Diversification of Payment Means Diversification of Third-Party Payment Operation Subjects Decentralization of Payment Fields Business Pattern Financialization 4 An Initial Attempt: Roller-Coaster Online Financial Management 1 The Concept of Online Financial Management 2 Development History of Online Financial Management 3 The Development Status of Online Financial Management Bao Series Financial Management Products Quantity of Bao Series Products Scale of Bao Series Products Yield on Bao Series Products Liquidity of Bao Series Products P2P Lending Scale of P2P Lending Yield of P2P Lending P2P Investors and Investment Amount Thereof 4 The Business Model of Online Financial Management 5 The Return of Online Financial Management 6 The Essence Re-dialysis of Online Financial Management 7 The Supervision of Online Financial Management 8 The Development Trend of Online Financial Management In-depth Big Data Application Diversification of Investment Target 5 Prominence of “Value” Accumulation: Big Data Finance 1 The Definition of Big Data 2 Platform Finance Development History of Platform Finance Element Accumulation Stage in 2002–2006 Initial Attempt Stage in 2007–2009 Great Leap of Platform Finance Since 2010 Business Pattern of Platform Finance Bottleneck of Platform Finance Shortage of Loanable Capital Restriction of Loan Region 3 Supply Chain Finance Development History of Supply Chain Finance Supply Chain Finance Pattern Receivable Financing Prepayment Financing Inventory Financing Category of Supply Chain Finance 4 Consumer Finance Development Conditions of Consumer Finance Scale of Consumer Finance Consumer Finance Structure Consumer Finance Industry Chain Bottleneck in the Development of Consumer Finance Development of Internet Consumer Finance Scale of Internet Consumer Finance Structure of Internet Consumer Finance Scale of E-commerce Consumer Finance 5 The Risks of Big Data Finance Data Risks Credit Analysis Consumer Risk 6 The Development Trend of Big Data Finance Vertical Development Cooperation Between Banks and E-commerce Companies Acceleration of Credit System Building 6 A Bridge Between Capital Supply and Demand: P2P Online Lending Platform 1 The Definition of P2P Online Lending P2P Online Lending and Bank Loan P2P Online Lending and Big Data Finance 2 The Development History of P2P Online Lending Development History of Abroad P2P Online Lending Development History of P2P Online Lending in China Exploration Stage in 2007–2008 High-Speed Growth Stage in 2009–2013 Normative Development Stage After 2014 3 The Development Status of P2P Online Lending Quantity of P2P Platform Quantity of Operation Platform Quantity of Problematic Platforms P2P Online Lending Scale P2P Online Lending Interest P2P Online Lending Term Online Lending Participant 4 The Mode of P2P Online Lending Pure Intermediary Mode “Online + Offline” Mode Guarantee Mode Debt Assignment Mode “Platform + Petty Loan” Mode 5 The Rethinking of P2P Online Lending 6 The Risks of P2P Online Lending Operation Risk Credit Risk Risk Control Risk Legal Risk Liquidity Risk 7 The Supervision of P2P Online Lending Policy of Supervisory Department Local Policies 8 The Development Trend of P2P Online Lending Regression to Pure Intermediary Mode Loan Loss Provision Mode Will Be the Transitional Choice Build Third-Party Capital Trusteeship System Improvement and Development of Full Industry Chain More Evident Verticality Trend Establishment of Industry Standards Information Transparency Acceleration of Credit System Building 7 More Open Financing: Crowdfunding 1 The Concept of Crowdfunding 2 The Development of Crowdfunding Development Process of Crowdfunding Development Process of Crowdfunding at Abroad Development Course of Crowdfunding at Home Current Development Situation of Crowdfunding 3 Commodity-Based Crowdfunding Development Conditions of Commodity Crowdfunding Commodity Crowdfunding Financing Mode 4 Equity-Based Crowdfunding Current Development Situations of Equity Crowdfunding Equity-Based Crowdfunding Financing Mode 5 The Rethinking of Crowdfunding 6 The Problems of Crowdfunding Severe Legal Risks Unsound Supervisory System Fuzzy Platform Profit-making Mode Great Investment Risks Unsound Exit Mechanism Platform Fund Management 7 The Future Development Trend of Crowdfunding Development of the whole industry chain of the platform Verticality Diversification of Platform Profit-making Mode 8 Rising Entrance of Flow: Vertical Financial Search 1 The Definition of Vertical Financial Search Layer of Vertical Financial Search Vertical Financial Search and Big Data Industry Chain of Vertical Financial Search Income Source of Vertical Financial Search 2 Source of Vertical Financial Search 3 The Business Mode of Vertical Financial Search Integrated Financial Product Vertical Search Platform Financial Service Intermediary Vertical Financial Search Platform 4 The Development Trend of Vertical Financial Search Data Collection, Analysis and Excavation Systematization Financial Product Customization Search Platform E-commerce 9 The Forefront End that is Ignored: Network Credit Investigation 1 Network Credit Investigation and Big Data The Meaning of Credit Investigation New-Type Big Data 2 The Rise of Western Credit Investigation Development History of Western Individual Credit Investigation The Stage of Qualitative Credit Analysis before 1950 The Stage of Locally Quantitative Analysis from 1950 to 1979 The Stage of Fully Quantitative Analysis after 1980 The Stage of Big data Credit Investigation Western Credit Investigation Models The Public Credit Investigation Model The Market-Oriented Credit Investigation Model The Industry Association Credit Investigation Model 3 Samples of USA Credit Investigation The Development History of USA Credit Investigation The Rapid Development Period from 1920 to 1960 The Period of Legal Perfection from 1961 to 1980 The M&A Integration Period from 1981 to 2000 The Mature Period of Stability from 2001 to Now Meaning and Boundary of the USA Credit The USA Credit System 4 Development of China’s Credit Investigation Development History of Domestic Credit Investigation The Exploration Stage from 1978 to 1995 The Start-up Stage from 1996 to 2002 The Development Stage from 2003 to 2014 The Polishing Stage from 2015 to Now Three Pillars of the Credit Investigation Industry The Legal System of Credit Investigation The Basic Database of Financial Credit Information Credit Market Enterprise Credit Investigation Individual Credit Investigation 5 Problems of Credit Investigation Low Coverage of Population Rare Types of Credit Investigation Data Limited Collection of Credit Investigation Data Different Data Formats 10 Where is the Road: The Future of Internet Finance 1 The Role of Internet Finance 2 The Development of Internet Finance 3 The Supervision of Internet Finance 4 Conclusion Postscript References