8月24日，我院钱军教授做客CCTV NEWS《Biz Asia》节目，就信息消费行业推动经济增长、面临的挑战及政府该采取的措施作出分析，同时对于互联网金融发表自己的看法。

Qian Jun: This is a very important industry as we have talked about hard works and soft works. And obviously given China’s normal population, even though we already have something like three hundred million or four hundred million people on line, there is a lot more room to grow. This is a cleaning industry and it is a new industry. That is going to be dominant not only in China but in the world for many years to come. And certainly, if this industry is booming, that also means China can create a lot of high pay jobs for its population as well. So, overall, I think promoting this industry is very good the policy.
 
Qian Jun: So, certainly we have already seen a lot of discussions on personal data safety, right. So with more and more people on line, we put more about personal data on line. So, certainly, this is a very important issue. I think the government can certainly set high standards for companies to enter into this industry in terms of protecting personal data. The other thing is some of … have the financial background. I think, you know, the financial markets can do a lot to promote the small firms in the industry so that, you know, in the near future hopefully China will have its own Apple and Google, because you can’t be a leader in globally by just producing a lower cost part or a labor intensive part of the product uniquely. So that is a very important challenge, I think, for the entrepreneurs, for the employees and also for the government.

Qian Jun: I think, overall, it is positive. It can play a positive role in the near future. I view there are broadly speaking two sectors. One is the payment sector. So basically, this facilitates the transactions you do on line much quicker. And we see that is already a big boom in the segment. The other sector that we just talked about is more interesting for my own taste I guess. That is online landing, because basically what they are doing is more and more like behaving like banks. They collect money and they invest them. So, I think in the near future this is the important role for the sector because there are still ways for the formal banking and market sectors to mature and develop and they can provide very diverse baskets of products for investors. So, we know that a lot of investors in China, they have capital but, you know, I don’t start the stock market which is not doing great or the real estate market which is clearly risky, they don’t have a lot of opportunities to go. And also for many many very good small firms, they have very hard time to secure landing from bank. So this is where this internet finance and other forms of internet financing can play a big role.

Qian Jun: Certainly, this is an important issue, right. As we learn from the 2008, 2009 or 2007, 2009 world financial crisis, the key risk in this kind of financial sector is systemic, so, anything is systemic, you need to be very very careful. So, I view this sector has two parts, right. On the one hand, if what the internet finance is doing is intermediary funds from individual or a small group of individual to a firm, to entrepreneur and if intermediary knows both sides very well, there is not a lot of risk. Even there is a risk, the risk is not from the intermediary. It is really from the creditors. You lend the money, the money not come back. The key area is in the individual vest and there is not a lot of information problem among all of these parties. So, I think, for this kind of transactions, the government shall regulate them but legalize all these transactions. On the other hand, if the internet finance, if the intermediary brings a large number of individuals, firms bring a lot of money from very different sources and then they lend to an equal large number of firms or investors all over the place, and if the intermediary does not know either the lenders or the creditors very well, then, you are getting to the sort of shadow banking problem due to the complexity and the lack of information problem. So, in this case, the government for sure shall be very careful in terms of regulating in both the sides, the procedure and things of this internet finance.