Why Was Jack Ma Interviewed: Suspect The Remarks Annoyed The Authorities | Apple News | Apple Daily

China Ant Technology Group will be listed in Shanghai and Hong Kong simultaneously the day after tomorrow. However, just before Ant Group’s listing, the China Securities Regulatory Commission announced last night that the People’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and the State Administration of Forex have responded. The Ant Group’s actual controllers include Jack Ma and others for supervisory interviews.

Because the timing is quite delicate, it has sparked discussion and speculation about the reasons. The external investigation and trial may be related to a talk by Jack Ma at the China Financial Forty Forum’s Financial Summit on October 24, which was also reported by Apple News.

It is understood that at the financial summit at that time, Chinese Vice President Wang Qishan warned in a film speech that in recent years, new financial technologies have been widely used and new business formats have emerged in an endless stream. While improved efficiency has brought convenience, it has also increased financial risks. Wang Qishan said that there are ideals but not ideals. We must strike a balance between fostering financial innovation, stimulating market vitality, expanding financial openness and financial oversight capabilities.

He said that today, the global financial and economic environment is changing dramatically. You need to stick to the bottom line, but also respond flexibly to risks and challenges, and be brave to remove the old and create the new.

However, Jack Ma directly pointed out various problems in China’s financial sector in his subsequent speech. Jack Ma said, “China’s finances have no systemic risks because there is no system at all, and there is no healthy financial system.”

Ma Yun said that our finances are still young and not even fully mature. We lack a healthy financial system. We die early and grow old. Innovation must pay a price. We are responsible for the future. We cannot manage the future with yesterday’s methods. He also said that today’s finances need laymen to fill in the gaps, and he is obviously the layman himself.

Jack Ma also denied the Basel Accord. He said that the Basel Accord is like a club for seniors. What he wants to solve is the problem of an aging financial system that has been working for decades, but China is different, as is Alzheimer’s and polio. The symptoms seem to be similar, but the differences are very large, so we must consider what to learn from these elderly, the elderly worry about whether they are near the hospital, while the young worry whether there is a school district.

Ma Yun said that innovation is bound to make mistakes. The question is whether you can refine and correct after making mistakes, insist on innovation, and do innovation without risk, which is actually stifling innovation. Controlling the risk to zero is the greatest risk. The three cores of Internet finance, rich data, are based on big data risk control, big data credit, so P2P is not Internet finance at all. If something goes wrong with P2P, Internet finances will be beaten to death.

He said good innovations are not afraid of supervision, but they are afraid of supervision yesterday. We cannot manage the airport by the way we manage the train station, and we cannot manage the future by yesterday’s way. Today, Chinese banks still think of pawn shops, for example, they always think of mortgages and guarantees, which has hurt many entrepreneurs. Either the assets are fully pledged and the pressure is enormous, or the unscrupulous loans and continued increase in leverage have resulted in huge liabilities.

He also said that what we need are policy experts. The experts are pragmatists. They do it well but they don’t necessarily say well. Policy formulation is a technical task. Now there are more and more policies, and the result is that nobody can do anything. Anyone can make things happen. Only when experts and academics combine, theory and practice combine, can we truly innovate and solve the problems of today and tomorrow. (Taipei Financial Center / Report)

Update: add video

Issued: 10:32

Updated: 16:46