Xu Xiuling: crisis and opportunities coexist, good quality data is a prerequisite for all
2014 the 12th annual meeting of the China Internet economy held in Beijing on December 18. Internet finance meeting, appropriate company Senior Vice President Xu Xiuling pointed out that China’s consumer markets 98% space mining, but the capacity cannot be achieved without core off, do not follow the flood the market. Following is a video:
I’m Yi Xin Gong Xu Xiuling. Appropriate letter in its 8-year history, do three things, one is the inclusive financial, finance services against the bottom of the pyramid, and the second is wealth management, mainly the concept of one-stop wealth asset allocation, and the third is the theme of today’s Internet banking, we do P2P network credits a long time, Yi is our classic products such as agricultural loans. We launched against white collar online investment services and financial services.
We debated in the first half of this year, Internet banking is a heavier financial or Internet, is in a subversion of the traditional financial. Conference Shang I had heard big guy were of statement is by inspired, a is people’s Bank of China of Qian Governor said “micro financial network loan various way of boom launched is because financial serious suppressed Xia of such a market of fierce rebound”, traditional of financial institutions or we traditional of service too suppressed has, so innovation of way in this market among fierce rebound, appeared has various of way, just and at of Internet combines has has new of industry State, but it nature is on financial suppressed Xia of rebound, Shown is micro-finance. Another big brother is the former Chairman of the China Banking Regulatory Commission caie, Bao special fire in March of this year the balance, he’s got an interesting analogy, he said, “is not innovation, does not do a group buy” lesson, that seems to be true. From big brother watch found first is finance financial nature had not changed, just let financial had a different way in the Internet era.
What different ways? Everyone do economic do commercial maximum of logic is reduced marginal cost, yiqian of method do not to marginal cost, not yiqian no thought, has has Internet era not as, marginal cost unlimited reduced even into zero, so service 80% also on May has, is host said of Pan Jun Emperor pretty Yi steep locust fro invoke eligible for led cavity I inter drunk Su An Zhi credits fascine dream Yi owes eligible for and color timid shot back find Xian g; I quail banter cavity I inter drunk multisubunit proteir Shun LAN stand bun whetstone wall quail added die suck wall quail Yi Council try truths rate Bell scene greed Halo stormed acyl dream stupid Word harmonic shallow 7 one Tiger boil amine shallow 4 Ma
Korea‘s population of 6 million, there were 20,000 micro-credit companies engaged in consumer finance, China’s population of 1.3 billion, which is more than 20 times, so, will serve this industry should be 500,000, only 10,000 now, which means we now demand that this should be only for 2%, 98% market is still possible. Korea because Korea is close to China in per capita income, it also looks very similar to China’s future development, comparing it to analogy or financial repression brings market opportunity for very large market constraint.
Another observed that market seems to be very hot right now, but capacity and competitiveness, I am very worried, the Internet was a wing, if the body is not strong. If you are financing, require you to credit assessment quantified if you do, you need professional data may be controlled, if you do not have this core capability, only Internet wings, I think it is unable to escape. I’m very impressed with marketing College, the teacher said we are dirty data is dirty, and the results, many years ago, how can marketing can get real data, go out to fill out form to statistics. So the data is important, but is there really good data is a prerequisite for all, not trendy thing we hold inside.
Although the market is very big, but there are many, we have to take care of yourself.