加快构建包容审慎的金融科技治理机制

Accelerating the Construction of an Inclusive and Prudent Fintech Governance Mechanism

运用金融科技改造传统金融已成为全球金融发展的基本途径,中国的金融科技在支付清算、服务长尾客户、支持脱贫攻坚和乡村振兴事业、助力全民抗疫等领域成效显著。但是由于金融科技存在依赖用户高度参与、网络双边外部性、大规模跨界、极端的规模经济等平台经济特征,现行的金融监管框架表现出了诸多不适应性。为此,应以"包容审慎"和"创新友好"为基本遵循,健全垄断监管的科学框架、推动机构监管向功能监管转变、加快实施持牌经营监管,同时应重新界定"系统重要性"金融机构、关注新型金融基础设施的平台特征、重视消费者数字产权的界定和保护。

It has been the basic way of financial development to use fintech to transform traditional finance. In China, fintech has achieved remarkable results in payment and clearing, serving long tail customers, supporting poverty alleviation and rural revitalization, and fighting the epidemic. However, due to the platform economic characteristics of fintech, such as high user participation, network bilateral externality, largescale cross-border and extreme economies of scale, the current financial regulatory framework shows many inadaptability. Therefore, we should follow the basic principles of “inclusiveness and prudence” and “innovation friendly” to promote and improve the scientific framework of monopoly supervision, promote the transformation from institutional supervision to functional supervision, and accelerate the implementation of licensed operation supervision. At the same time, we should redefine systemically important financial institutions, pay attention to the platform characteristics of new financial infrastructure, and take care the protection of consumers’ digital property rights.