Ant Group Jing Xiandong’s speech

The following is the full text of Jing Xiandong’s speech:

Dear leaders, friends:

good morning guys! I am very happy to participate in this forum to discuss the digital future of the financial industry. Our country will soon usher in the beginning year of the “14th Five-Year Plan”. The Fifth Plenary Session of the 19th Central Committee of the Party pointed out the strategic direction of the new dual-cycle development pattern. The digital economy is entering a period of accelerated development. At this point in time, our financial Practitioners of science and technology need to think about how to really do a good job of “finance for the people and science and technology for good”.

For more than a month, we have done our best to deal with the aftermath of the suspension of listing under the guidance of supervision. Recently, the entire Ant Group is earnestly studying the “14th Five-Year Plan” recommendations and the central government’s series of policies on financial security and financial stability. According to the requirements of the regulatory authorities, they are looking in the mirror, looking for deficiencies, undergoing physical examinations, actively cooperating with supervision, and further Implement regulatory requirements. The recent suggestions and expectations of ants in the society include various criticisms. These are the precious wealth of ants. We listen carefully and conduct a comprehensive self-examination seriously.

Today, I take this opportunity to share with you Ant’s recent learning thinking and next steps:

First, compliance with supervision is the guarantee for the stability and long-term development of financial technology.

China’s financial technology has grown up in the era of national reform and opening up and innovation and development, and Ant Group is the beneficiary.

Development is inseparable from supervision. Supervision is for healthier and more sustainable development. This is our personal feelings and experience in the practice of financial technology these years. The development history of mobile payment is a good proof. Under the guidance of the regulatory authorities to tolerate innovation and adhere to the bottom line, my country’s mobile payment has developed rapidly, and the transaction scale has reached a new level every year, which not only provides convenience for all aspects of social life, but also lays a solid foundation for the digital transformation of large, small and micro enterprises .

In fact, in this process, there are many challenges of “eating crabs for the first time” and “crossing the river by feeling the stones”. The regulatory authorities have established and improved an inclusive and prudent regulatory framework with a scientific and pragmatic spirit, and achieved equal emphasis on regulation and development. Promote China’s mobile payment to be at the forefront of the world.

Today, the digital transformation of the financial industry, open banking and other innovative trends are not only a common issue facing China, but also global financial supervision. This is an exploratory process without mature experience that can be copied. A series of measures issued by the supervisory authority to fully incorporate financial technology The regulatory framework has opened a more stable and high-quality development for our financial technology institutions. We believe that the future of financial digitalization is promising and promising.

Second, keep the bottom line of financial technology risks and guard the lifeline of financial security.

Financial security is an important part of national economic security and an important foundation for stable and healthy economic development.
We deeply realize that maintaining financial security and preventing financial risks are the prerequisites for all innovation and development in the financial field. Ant serves many consumers and small and micro enterprises. In maintaining financial security and preventing financial risks, we should raise the level of safety. , To demand ourselves with higher standards and stricter regulations. We set three requirements for ourselves:

One is to deepen the understanding of the relationship between security and development, system security and individual security. Without security, there can be no innovation and development; without the security of the national financial system and the entire financial industry, there can be no individual corporate security.

The second is to continuously improve corporate governance, ensure an effective corporate governance structure, clarify responsibilities, strengthen mechanisms, and improve systems. We will further strengthen information disclosure and increase transparency. Sunshine is the best antiseptic, so that everyone can see, see through, and predict.

The third is to implement comprehensive risk management in every business, not only to ensure that every business of its own receives safety and risk medical examinations, but also to further regulate financial cooperation, strengthen joint prevention and control with partners, and jointly prevent financial risks and maintain Financial security.

Today the world is facing the challenges of data security and data privacy issues. If any company cannot solve this problem well, it will not have long-term development. Ant Group regards data security and privacy protection as the company’s lifeline to guard it, making it the core requirement of its own system, organization, culture and technology. It resolutely implements the relevant rules of financial information protection and protects the financial Consumer Rights.

Third, focus on small and micro businesses to serve the real economy more generally and more beneficially.

The recommendations of the 14th Five-Year Plan require the establishment of a financial system to effectively support the real economy, improve the level of financial technology, and enhance financial inclusiveness.

We believe that the mission of financial technology is to better serve the real economy, especially small, medium and micro enterprises, and solve the problems of financing difficulties and expensive financing for small, micro and private enterprises. This is the direction that ants have been striving for.

Facing the new development pattern, Ant Group will continue to play the role of financial capillaries, go all out to focus on small and micro groups, and contribute its own strength to the new development pattern of dual cycles.

In the next five years, we must fully respond to the national development strategy and focus on serving small and micro businesses and serving producers and operators as the focus of financial services. At the same time, we must actively integrate into the rural revitalization strategy to provide digital financial services for the development of agriculture, rural areas and farmers. We must continue to work with financial institutions and continuously improve efficiency through technological innovation to further reduce the cost of financial services for small and micro enterprises, so as to achieve both inclusiveness and benefit, more inclusiveness and more benefit.

Fourth, increase technological innovation, bridge the digital divide, and assume greater responsibilities.

Facing the 14th Five-Year Plan, the country will rely on technological self-reliance as a strategic support for development. Under the environment that encourages technological innovation, enterprises, as market players, should strive to become strong, especially to overcome the problem of stuck necks and improve the original ability of basic technology.

We will continue to increase investment in technological innovation, especially focusing on core areas, and increase the research and development and application of cutting-edge basic technologies, such as databases, blockchain, smart risk control, smart security and other fields, to further cultivate core competitiveness , Explore new application scenarios, and actively participate in international competition. We will continue to increase the full-scale opening of technology, such as promoting deeper cooperation between our Oceanbase database technology and financial institutions, and better supporting financial institutions, especially small and medium-sized financial institutions, to achieve digital transformation.

Technology should be warm and inclusive. We must provide different groups with more choices and possibilities, lower the threshold for using digital technology, bridge the “digital divide”, and strive to allow more people to gain the warmth of technology.

Dear leaders and friends, China’s financial technology has grown up in the era of reform and opening up. It is inseparable from an inclusive and prudent regulatory environment. It benefits from continuous technological innovation and is rooted in a broad and diverse market demand.

Standing at a new stage of development today, Ant will definitely continue to improve itself, enhance its overall view and sense of responsibility, consciously integrate corporate development into the new development pattern and new regulatory environment, and respond to the requirements and expectations of the country and society with practical actions.

Thank you all. I wish the forum a complete success.

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