The 2014 First Hunan Internet Financial Summit Forum was held in Changsha on the afternoon of March 16. At the forum, some of the leaders, renowned scholars and experts of China's internet financial industry jointly probed various aspects related to the internet such as essence of internet finance, policy interpretation, industrial trend analysis, investment hotspots, legal interpretation and relative development opportunities in the province. Hunan internet financial industry also released its self-regulation declaration to the public at the forum.
Internet finance, an emerging industry, integrates traditional financial industry and such internet spirit as "openness, equality, cooperation and sharing". Currently, internet finance models include online banking, third-party payment, financial intermediaries, network loan, mobile financing APPs, and financial e-commerce. Focusing on internet financial development modes such as Alibaba and Tencent, the forum participants promoted Hunan's local internet financing enterprises, and proposed that they adopt fresh methods and establish small yet fully-developed financing companies with professional spirit.
Translator: Zhu Mengxia
Source: Hunan Official Web Portal