中国金融科技发展的风险与监管启示  

Risks and Regulatory Implications of Fintech Development in China

作　　者：龚强 马洁[1] 班铭媛 Gong Qiang;Ma Jie;Ban Mingyuan

机构地区：[1]中南财经政法大学文澜学院 [2]北京大学数字金融研究中心 [3]中南财经政法大学收入分配与现代财政学科创新引智基地

出　　处：《国际经济评论》2022年第6期45-70,5,共27页International Economic Review

基　　金：国家自然科学基金面上项目“金融科技创新与监管的机制设计研究”(项目编号:72073146);国家自然科学基金面上项目“创新驱动发展的财政金融激励机制研究一一基于产业风险与信息特性的视角”(项目编号:71773143);国家社会科学基金重大项目“数字普惠金融的创新、风险与监管研究”(项目编号:18ZDA091);收入分配与现代财政学科创新引智基地“高等学校学科创新引智计划”(项目编号:B20084);中南财经政法大学中央高校基本科研业务费专项资金“中国金融科技发展的问题与监管启示”(项目编号:202212101);中南财经政法大学中央高校基本科研业务费专项资金“数字经济推进高质量发展的机制研究”(项目编号:2722022AL002);湖北省重大调研课题基金项目“湖北加快数字赋能、数字化转型问题研究”(项目编号:2021J03-4)的阶段性研究成果。

摘　　要：金融科技正引领全球金融业新格局,成为未来全球金融竞争的制高点。与传统金融服务相比,金融科技在优化金融资源配置和促进普惠金融发展等方面发挥了重要作用。但与此同时,技术驱动的金融创新也对中国金融科技监管提出更高要求。金融科技发展初期,行业秩序尚未规范,金融欺诈乱象丛生,中小投资者保护是监管的重中之重;伴随行业进入成长期,数字技术与金融服务深度融合,监管套利可能积聚系统性金融风险,防范化解金融风险成为监管主线;现阶段,数据滥用与平台垄断问题日益严峻,不仅严重侵害消费者合法权益,也不利于营造包容创新和公平竞争的市场环境,消费者权益保护与维系市场公平成为当前监管的重要工作内容。因此,面对中国金融科技发展的新形势和新挑战,金融科技监管应向全方位、多层次、立体化监管转变,即以包容性、稳定性、公平性与消费者权益保护为监管目标,持续完善数据和平台治理体系,推动金融科技行稳致远。Fintech is leading the new pattern of global financial industry and becoming the commandingpoint of global financial competition for the future. Compared with traditional financialservices, fintech plays an important role in optimizing the allocation of financial resources andpromoting the development of inclusive finance. But at the same time, technology-drivenfinancial innovation also has had higher requirements for China’s fintech regulation.Specifically, at the early stage of fintech, financial fraud was rampant, and the protection ofsmall and medium-sized investors was the top priority of regulation. As the industry enters thestage of growth, digital technology and financial services become deeply integrated, andregulatory arbitrage may accumulate systemic financial risks;as a result, preventing andresolving financial risks becomes the main part of regulation. At present, the problem of dataabuse and platform monopoly has become increasingly serious, which not only seriouslyinfringes on the legitimate rights and interests of consumers, but also undermines efforts tocreate a market environment of inclusive innovation and fair competition. The protection ofconsumer rights and interests and promotion of market fairness have become an important partof current regulation. Therefore, in the face of the new situation and new challenges in thedevelopment of fintech, China should adopt a new all-dimensional, multi-level, and three-dimensional mode of fintech regulation;that is, it should take inclusiveness, stability, fairnessand consumer protection as its regulatory objectives, continue to improve the data and platformgovernance system, and promote the steady and long-term development of fintech.

关 键 词：金融科技 创新与监管 消费者权益保护 数据隐私 

分 类 号：F832[经济管理—金融学]