The China Internet Finance Association organized a symposium for supply chain finance business members in Beijing. Ma Chao, Secretary General of the Association, pointed out that in accordance with the requirements of the “Notice”, the Association is actively promoting various tasks of self-regulatory management. Currently, the Association has basically reached the self-regulatory management and monitoring mechanism of the main operators of accounts, initially established a statistical monitoring mechanism, basically ascertaining the market base, continuing to promote the rational control of certificate periods, the continuous decline in financing costs, and guiding weak platforms to exit in an orderly manner and handle related risk incidents in a timely manner. Ma Chao stressed that, first, compliance and rectification is still the top priority at present, and must not be blindly expanded and developed “with illness”; second, member units of the Association should become excellent students, play an exemplary leading role, and complete compliance rectification and filing as soon as possible; third, the Association will use self-discipline filing as a starting point, making good use of self-regulatory inspections, punishments, etc., to benefit those in compliance and get out of the market, gradually promoting survival of the fittest in the industry.

The China Internet Finance Association organized a symposium for supply chain finance business members in Beijing. Ma Chao, Secretary General of the Association, pointed out that in accordance with the requirements of the “Notice”, the Association is actively promoting various tasks of self-regulatory management. Currently, the Association has basically reached the self-regulatory management and monitoring mechanism of the main operators of accounts, initially established a statistical monitoring mechanism, basically ascertaining the market base, continuing to promote the rational control of certificate periods, the continuous decline in financing costs, and guiding weak platforms to exit in an orderly manner and handle related risk incidents in a timely manner. Ma Chao stressed that, first, compliance and rectification is still the top priority at present, and must not be blindly expanded and developed “with illness”; second, member units of the Association should become excellent students, play an exemplary leading role, and complete compliance rectification and filing as soon as possible; third, the Association will use self-discipline filing as a starting point, making good use of self-regulatory inspections, punishments, etc., to benefit those in compliance and get out of the market, gradually promoting survival of the fittest in the industry.