Report: The development of new financial asset management, trading and settlement platforms, such as crypto assets, challenges traditional financial regulation

According to the Economic Information Daily, the Chinese Academy of Social Sciences' China Economic Situation Analysis and Forecasting Group published an article today on China's Economic Situation Analysis and Forecasting Spring Report 2019: China's economy will operate in a reasonable range this year. The article said that with the development of financial technology and the integration of finance and the real economy, the financial supply side structure has undergone profound changes, and new financial supply based on big data, cloud computing, blockchain, third-party payment and other platforms provides financial services. Convenience, reducing financial transaction costs, and improving the efficiency of financial allocation also imply a trigger mechanism for financial systemic risks. The development of new financial asset management, trading and settlement platforms such as shadow banking, P2P lending platforms and encrypted assets poses challenges to traditional financial regulation. Therefore, it is necessary to strengthen the penetrating supervision of Internet-backed financial institutions and financial markets to prevent financial systemic risks.