Pang Yinming from the Ministry of Industry and Information Technology: Wealth management requires the intervention of new technologies such as blockchain

According to Sina Finance News, on January 4, the China Wealth Management and Development Forum and "Wealth Management Institutions Competitiveness Report" was held in Shanghai. Peng Yinming, a member of the China Electronics Technology Standardization Blockchain Standards Compiling Group of the Ministry of Industry and Information Technology, said that the supply side of wealth management faces reforms in two directions. First, from the perspective of the source of assets, the digitization of non-standard assets requires changes in technologies such as blockchain and artificial intelligence in terms of asset expression, isolation, rating, pricing, credit enhancement, and transactions. The scope of disposal of non-standard assets can be expanded, the types of assets for wealth management can be increased, and the asset quality and returns of asset management can be improved. Second, from the perspective of the asset management process, strengthening the management of the asset management process, improving the quality of KYC, and enhancing the transparency of asset management, etc., require the involvement of a new generation of information technology represented by the blockchain.