Research On Legal System Of Fintech Supervision In China

Fintech supported by technologies such as big data,cloud computing,and artificial intelligence is emerging globally.Fintech has injected new vitality into financial markets,and at the same time it has caused various risk conditions to intensify or even evolve.In the face of the development trend of financial technology,governments around the world have also actively adjusted their regulatory strategies and actively explored regulatory systems that are suited to the development of their Fintech.The proper supervision of Fintech will help strengthen the protection of the interests of China's financial consumers,improve China's financial legal system,and prevent systemic financial risks.At the same time,it is also of positive significance for winning our country's leading position in the financial technology field and mastering the right to speak in international finance.However,with the e-bidding incident,the Pan-Asian Metal Exchange incident,and the Qiaoxing debt incident,they have not only harmed the rights and interests of financial consumers but also seriously disrupted the order of financial markets.It exposed the lags and failures of China's current regulatory system and brought challenges to regulatory agencies.The rapid development of Fintech undercuts regulatory reforms.Law is the key to governing the country.It regulates Fintech through legal system construction and guides the development of the Fintech industry in the direction of effectively managing risks and benefiting the interests of financial consumers.Focusing on this goal,the research on the legal regulation of China's Fintech supervision uses comparative research methods,inductive and deductive research methods,and interdisciplinary research methods.It has explored the following aspects:First of all,starting from the concept analysis of financial technology,it analyzes the differences between the “internet finance” and “Fintech”,and establishes the “Fintech”with wider scope and wider impact as the research object;and combing the current global Based on the status quo of Fintech supervision,the evolution of China's Fintech supervision system is analyzed.Secondly,the reasons for the need for reform of China's Fintech regulatory system are set out in the perspective of the main body of Fintech supervision law,the degree of Fintech supervision and the disadvantages of China's Fintech supervision system.Thirdly,it analyzes the current successful achievements of the overseas Fintech regulatory system innovation and makes an assessment: “Regulatory sandbox” is an adjustment made by the regulatory body in response to the development of f Fintech and the current regulatory model.It can promote real innovation and development in the financial market,improve the flexibility and flexibility of supervision,and effectively balance financial innovation and risk control;“diminishing centralized supervision” This kind of supervision model of multi-agent collaborative cooperation not only balances to a certain extent The interests of distributed ledger participants and other stakeholders are flexible to deal with systemic financial risks and crime prevention activities,and can appropriately avoid excessively strict regulatory frameworks that hinder the development of financial innovation;Analytical framework for Fintech hardware,software conditions and external influences provide a clear assessment of ideas.It provides operational guidelines for the effective supervision of financial science and technology by regulatory agencies in various countries,and points out the direction for the future reform of the international financial regulatory system.Then,from the achievements of institutional innovations in Fintech supervision in countries such as Britain and the United States and FSB,under the guidance of“embedded” thinking,the path that should be followed to explore the reform of China's Fintech regulatory system is: “supervisory” regulation as The direction of change is to "regulate technology" as a means of change.With the help of supervising science and technology,the establishment of "testocratic" supervision that matches the development stage and level of risk of Fintech is an effective regulatory path that effectively balances China's Fintech innovation and risk.Finally,based on the current situation of China's financial supervision system,it puts forward suggestions to improve the supervision of China's Fintech.The author believes that the regulatory system of China's Fintech can be improved mainly from these three aspects: a regulatory legal system for China's regulatory sandboxes will be constructed from the aspects of the test application body,implementation subject,operation process,and consumer protection measures that specifically regulate Fintech;Starting from the two levels of financial science and technology regulatory bodies and market entities,we use“supervisory technology” to build a favorable regulatory coordination mechanism;and through the establishment of a financial consumer feedback mechanism and education system to strengthen the protection of financial consumer rights and interests.In the field of financial technology,an orderly and innovative pattern of fair competition,controllable risks,and customer participation has been created.