BEIJING and SHANGHAI, April 25, 2017 /PRNewswire/ -- Ning Tang, Founder and CEO of CreditEase, received the China Financial Literacy Distinguished Contribution Award at the 2nd China Financial Literacy Annual Conference held in Beijing and Shanghai from March 18 to 20, 2017. As an institution, CreditEase was also honored with the China Financial Literacy Distinguished Contribution Award.
The event with the theme "FinTech and Blockchain" was co-organized by Chinese Museum of Finance Group, China Center of Financial Literacy and China Blockchain Research Center. Financial experts from China and abroad, as well as financial regulators convened to talk about opportunities and challenges brought by FinTech, particularly blockchain, as well as necessity to improve financial literacy of the general public, especially students.
The award recognized Tang as a dedicated contributor to inclusive finance and wealth management, an active practitioner of inclusive finance and FinTech innovation, and an advocate for public financial education in primary and secondary schools.
During the keynote speech, Tang stated that China has become a global leader in FinTech innovation and regulation, boasting the comparatively matured payment and online lending industries and expecting more innovations aiming to solve financing difficulties of SMEs.
However, Tang added, despite impressive progress in personal payment, the growth at industry and enterprise levels still have a long way to go.
"The development of science and technology must be regulated by technologies like blockchain," Tang stressed.
In addition, Tang analyzed crowdsourcing as a backup for startups' financing, the lower cost and higher efficiency of robo-advisors in helping the Chinese middle class realize scientific, stable and long-term asset allocation, the prospect of insurance technology to better capture and serve clients' needs, and the trend among institutions and enterprises to digitalize financial knowledge to enhance literacy of individual investors and consumers.
Financial innovation must obey the nature and logic of finance, Tang concluded.
"Through China's continuous efforts on innovation and improving regulation environment built on common sense, joint efforts and common interest, the internet finance and FinTech innovation will lead the financial development in the coming one or two decades," he predicted.
At the sub conference in Shanghai on March 20, Yu Cong, CFO of Yirendai, called for more regulatory support for the fledgling blockchain industry and introduced Yirendai's technology-driven practice in inclusive finance.
"FinTech should not only serve the needs of SMEs and individual consumers for loans, but also their needs for payment and insurance," Cong said.
CreditEase is a leading FinTech company in China, specializing in small business and consumer lending as well as wealth management for high net worth and mass affluent investors. It is a Standing Committee member of China's Internet Finance Industry Association and Chairman of Beijing Marketplace Lending Association. Its majority owned subsidiary Yirendai (NYSE: YRD), an online consumer finance marketplace, is listed on the New York Stock Exchange.
About Chinese Museum of Finance
Set up in 2010, Chinese Museum of Finance (CMF) currently runs five theme museums and four branch academies in China. As the founder of the China Center of Financial Literacy-a nonprofit organization, and a founding member of China Alliance of Money and Finance and International Federation of Finance Museum, CMF is committed to promoting financial literacy and inclusive finance by hosting Global Financial Museum Summit and actively participating in global standard formulation.