中国的数字金融发展:理论机制、现实背景与政策建议

The Development of Digital Finance in China:Theoretical Mechanisms,Practical Challenges and Policy Recommendations

发展数字金融是做好五篇大文章的重要一环。首先,基于数字金融领域前沿文献,对中国数字金融高速增长现象进行了理论分析,将该现象的成因归结为金融压抑带来的巨大市场需求、企业家利用数字技术实施的流程创新和监管者相对包容的监管理念。随后,分析了近年来国内外形势变化给我国数字金融发展带来的需求增速放缓、技术瓶颈凸显和监管趋于严格等新课题,并立足新阶段新形势,提出了做好数字金融大文章的若干政策建议。

Digital finance is one of the five major links in promoting the high-quality development of financial services.Based on the cutting-edge literature in the field of digital finance,this paper analyzes the phenomenon of China's rapid growth of digital finance from a theoretical perspective,attributing its causes to the huge market demand driven by financial repression,the innovative processes implemented by entrepreneurs using digital technology,and the relatively inclusive supervisory concept of regulators.Subsequently,the paper examines the new issues arising from recent changes in domestic and international conditions,including the slowdown in demand growth,the emergence of technical bottlenecks,and the tightening of regulations.Finally,it presents several policy suggestions for effectively advancing digital finance in light of the new stage and evolving circumstances.