The 3rd China Internet Finance Forum 2019, with the theme of "Fintech assisting the construction of a modern financial system", was held in Beijing today. Zhu Yong, Deputy Secretary General of the China Internet Finance Association, attended the event and released the "China Internet Finance Annual Report 2019". According to Zhu Yong, according to the "China Internet Finance Annual Report 2019", China's Internet financial risk special rectification work has been further promoted with remarkable results. The overall level of Internet financial risk has continued to decline, and the industry's normative and healthy development trend is gradually taking shape. Among them, the online payment market is operating steadily and progressively, the risk of individual online lending continues to clear, Internet insurance premium income has steadily rebounded, Internet banking has continued to develop steadily, and non-public Internet equity financing has explored diversified businesses. At the same time, we also see that China's Internet finance industry still faces certain challenges in terms of legal systems, infrastructure, and industry governance systems. It needs to be soberly aware, accurately grasped, and properly responded. Looking into the future, as the special rectification work of Internet financial risks is intensified, the risks of the Internet financial industry will continue to converge, and a long-term regulatory mechanism adapted to the characteristics of Internet finance will accelerate the formation. At the same time, the application of cutting-edge information technologies such as artificial intelligence, big data, and blockchain in the financial sector is accelerating and deepening. The use of fintech to accelerate the digital transformation and enhance the financial services of the real economy has become a general consensus in the financial industry.