| The financial industry has entered the era of science and technology.While the connection between finance and science and technology brings dividends to the economic development of various countries,the negative effect of science and technology finance is gradually highlighted in judicial practice.Faced with the characteristics of mixed financial products,problems such as backward supervision methods and lagging policies and regulations have become more and more obvious in China’s separate supervision mode.Reasonable supervision can directly promote the innovative development of the financial industry,on the contrary,unreasonable supervision will hinder the innovative development of the financial industry.Therefore,it is an inevitable choice for countries to improve their financial competitiveness to seek innovation of regulatory system in order to achieve a dynamic balance with development.The "regulatory sandbox" project,pioneered in the UK,provides a safe testing environment for financial innovation and enables regulators to identify risks and hidden dangers in financial innovation in advance during the testing phase.One of the original designs of the project is to balance the relationship between innovation and regulation.The system has since been adopted in Singapore,Australia and Canada.Although the regulatory sandbox system has developed to a certain extent in China,it is still in the initial stage of exploration on the whole,which is mainly reflected in the regulatory practice of fintech in China.Through sorting out the development status of China’s regulatory sandbox system,it can be found that in the development process of China’s regulatory sandbox system at present,there are some problems,such as lack of qualified subject regulation,incomplete risk testing mechanism,weak protection of consumer rights and interests,lack of industry coordination and lack of innovative methods.By referring to the advanced development experience of Singapore and other countries,the paper puts forward some Suggestions,such as filling the legal deficiency of qualified subjects,expanding the risk testing mechanism,strengthening the protection of financial consumers,improving the coordination supervision ability of regulators,and expanding the sandbox supervision mode.In order to build a scientific and reasonable regulatory sandbox system suitable for China’s specific national conditions. |
