Sheng Xitai: China's financial system should be more open, transparent and open to the public

Recently, the 4th influence Investment Summit 2019 hosted by Huaxing alpha was held in Beijing. The theme of this conference is "slow thinking in a windless era". Many excellent founders and first-line investors of start-ups gathered here to discuss new economy and explore new opportunities together.

Mr. Sheng Xitai, founder partner of Hongtai fund and chairman of Hongtai capital holdings, was also invited to attend and delivered a keynote speech - "technology driven new era, investment logic of financial technology".

According to Tyco, "there is no doubt that the impact of technology on finance is far-reaching, and everyone is its beneficiary.". For example, mobile payment is one of the most obvious performance of technology to finance. Mobile payment makes Chinese people and Chinese society step beyond the era of credit card. In recent years, the number and amount of investment cases of financial science and technology in China's market are among the top in the world.

"In addition to doing a good job in compliance and reviewing the nature of finance, the future opportunities in the field of financial science and technology lie in sinking the market and going to sea. The existing financial services of people outside the Fifth Ring Road need to be improved, and Internet applications like mobile payment are also suitable for countries with large population such as India. So, AI, big data, blockchain and other underlying technology upgrades combined with the existing market space will create many new opportunities. "

The following is the main body of the speech:

Good morning, everyone! The theme of Huaxing's activity today is "slow thinking in the windless era". I have been working in the investment industry for four or five years, and I have experienced many outlets. In the windless era, we are still a little confused. A few years ago, there was a saying that "pigs can fly in the air", which may not have been heard by many new young people.

In the past two years, we have been very anxious, which is also reflected in the investment industry. The most basic principle of investment is that I have invested money today and can only receive it in the future. There is a time gap between them. The fundamental premise is that I believe that the future will be better, no matter in this era, or in this industry, or in projects invested, otherwise I cannot invest.

In recent years, people's perception in this regard is poor, their confidence has been affected, and their fundraising is also obvious. Since last year, 90% of the funds have not raised new money. There are many things that the investment industry can't manage. For example, the Sino US trade war, everyone feels very bad.

Just now, two guests shared and mentioned the science and technology innovation board. That field is my native language system. I have been working for 20 years. Is today's science and technology innovation board a registration system? This is a big question mark. I don't think it's right now. It's obvious that the audit of science and technology innovation board is stricter than that of growth enterprise board and small and medium-sized board.

People in the industry are very clear that so far, the technology innovation board has not changed the small and medium-sized board launched in 2004 and the growth enterprise board launched in 2009. Every time it is launched, it hopes that there will be some innovation and revolution in the entry aspect of the system, but it has not been realized. How many of the 25 enterprises examined in the first batch of science and technology innovation board are really high-tech enterprises facing the future?

At present, there is still a long way to go before the real registration system. What's more gratifying is that Shenzhen's policy has been greatly opened recently. Shenzhen's gem allows the same policy as the science and technology innovation board. I believe that this kind of competition is conducive to the investors and entrepreneurs here to produce higher efficiency.

When Shenzhen Stock Exchange and Shanghai Stock Exchange competed, their service consciousness was very good. Suddenly they were divided. Shenzhen was responsible for the listing of small and medium-sized enterprises, and Shanghai was responsible for the listing of large enterprises. The service attitude of the two exchanges gave a big discount. Therefore, competition itself can promote the sound development of the capital market and help entrepreneurs and investors.