Industry Press

ICBC former chairman Jiang Jianqing: global financial into the

2017-08-25

July 9, 2017, at the Shanghai Jiaotong University Shanghai High School of Finance (Gao Jin / SAIF) 2017 graduation ceremony and degree award ceremony, China - Central and Eastern Europe Fund Chairman, former chairman of the Industrial and Commercial Bank of China Jiang Jianqing, around the "financial And life "," finance and change "," finance and risk "three aspects, delivered a keynote speech.

Jiang Jianqing pointed out that the current world financial industry is facing the economic cycle, industry cycle and the impact of the superposition of the cycle. China's financial industry in the reform and opening up decades, the progress made for all to see, but also suffered more from the larger financial risks. Today, the new starting point, in the new economic under the normal situation of China's financial industry, the difficulties faced by the number of challenges, the risk of many, no less than a period of time.

He emphasizes that a new generation of information technology, represented by mobile interconnection, large data, cloud computing and artificial intelligence, is essentially a revolution in the transmission, reception, analysis and processing of financial information, and its evolution has changed Financial model, business and product. Future financiers, or financial experts who understand science or technology, or financial technology experts.

The excerpts are as follows:

The current world financial industry is facing the economic cycle, industry cycle and the impact of the superposition of the technology cycle. The development of the global financial industry is in a strategy of "confused".

Today, China's financial industry is larger, wider, more complex, more opportunities and challenges. But the choice of financial professional uncertainty is greater than in the past, not only refers to China's financial practitioners have nearly 5.7 million people, university financial professional "excess capacity" signs. I am referring to the fact that China's financial industry, which has experienced prosperity in the past few decades, has entered a stage of deepening the adjustment, facing the challenge of inter-industry and cross-border institutions, "to intervene" the functional challenges. Although the financial industry intermediary function is still needed, it will not disappear, but assume the payment, financing, wind control and data processing functions of the intermediary, the post is likely to be replaced. The future of finance may not be a place, but it is still an indispensable service.

The new generation of information technology, represented by mobile interconnection, large data, cloud computing and artificial intelligence, is essentially a revolution about the transmission, reception, analysis and processing of financial information. Its evolution and innovation has changed the financial model, Business and product. It will further break the restrictions on financial transactions and services in time and space; bring changes in customer demand preferences, service convenience and coverage changes, service levels and customer experience dramatically increased; bring business model, philosophy and financial culture On a series of changes.

Future changes in the financial sector may be faster than we thought. In the field of financing, large data technology and artificial intelligence will enhance the risk of asset transformation process control ability, credit decision is also the game process, will rely on practice and mistakes to accumulate the experience of traditional practices. Through the accumulation of experience of winning or losing, the use of deep neural network, the human brain to determine the mechanism to determine the decision-making credit. The accuracy and refinement of risk management will be improved in quality; block chain technology will play a role in the payment and other areas to enhance security; VR technology in the field of credit scene investigation and other aspects of emerging, unstructured image data Remote decision makers will be able to improve the management of assets and private banking services; remote mobile Internet technology will lead to subversion of traditional banking business services model.

The future of the most competitive financial institutions, must be time to change, in addition to the old cloth, innovation Ding. Continuous change is the key to staying alive. Future financiers, or financial experts who understand science or technology, or financial technology experts.

In the financial industry, the only constant is risk control. The modern economy is the credit economy, the credit relationship is everywhere, the credit scale is expanding day by day, the credit structure is becoming more and more complicated. With the financial market breadth, the depth of the increasing, more and more complex product system, the financial opening degree of the increasingly widening, increasing financial risk. Risk management is the core of the financial essence, the financial industry through risk identification, monitoring, disposal and management to create benefits, to achieve their own sound development, and promote social progress.

Finance is the driving force of prosperity, but the crisis is also related to finance. China's financial industry in the reform and opening up decades, the progress made for all to see. But also encountered more from the larger financial risks. The financial industry is the institution of risk management, which is inherently fragile. Although the financial risk is related to the drastic changes in the market environment, it is unique and contingent, but its own excessive expansion, blind innovation, neglect of the basic laws of economic operation, ignoring the basic risk Prevention is the culprit leading to risk. The financial industry is a balanced industry, the financial balance sheet is the T-type table. Requires the financial industry managers must balance the relationship between good earnings and risk, long-term and short-term relationship, size, speed and quality of the relationship, should not be too much to pursue short-term utilitarian. The financier has an irresponsible trust in the depositor, especially with prudence.

Although people engaged in financial career, can be called financiers or bankers. But the particularity of the financial industry, the complexity of the internal structure, the risk of lag, the financiers need to go through the risk of inspection and historical review. Financial industry "left" who is king, financier steady or even conservative is the industry's fine cultural traditions. I have repeatedly said that the financier club does not appreciate the 100 meters sprinter, respect is the marathon champion.