Beijing Business Daily (Reporter Yue Pinyu and Liao Meng) On April 16, Liu Liange, Chairman of Bank of China, said at the 2022 Tsinghua PBCSF Global Financial Forum that digital economy and digital transformation are important components to facilitate high-quality development.
Liu Liange, Chairman of Bank of China
Liu Liange pointed out that, first, the digital economy requires more accurate and efficient financial support. First, we need to promote the implementation of industrial digitalization. This includes people’s lives. We often talk regarding ToB, ToC, and ToG, which can play a very supportive role in government digitization, building a digital government, and finance. On the one hand, data connection promotes financial development, and on the other hand, it promotes the development of economic entities.
The second digital economy requires the financial industry to accelerate the pace of digital transformation. Now major financial institutions, including small and medium-sized financial institutions, are undergoing digital transformation. At present, the annual investment of 14 banks is 155.4 billion. The pace of this digital transformation depends entirely on the needs of customers, on the need to transform the banking industry, the need to find new drivers, and the need to develop new formats.
Third, the digital economy creates the conditions for greater inclusion of financial services. In the past three to five years, through the connection of online and big data, including small and medium-sized banks, we have cooperated with the government on at least five to ten data sources, from customs and foreign trade, industrial and commercial enterprise registration data, to competent authorities, etc. Judging a client following a multi-faceted intervention. It does save us costs, improves efficiency and strengthens risk prevention through the formulation of models. The impact of dataization on the banking industry is earth-shaking.
Fourth, the digital economy requires the construction of a more secure financial system. On the one hand, there is the abuse of digital technology, and many platforms have appeared a lot of chaos. There are also digital security issues, including the protection of personal privacy, information collection leaks occur from time to time, and the issue of cross-border data flow is directly related to national financial security.
(Editor: Wen Jing)
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