IMF Visits IDF
Jun 06-2019
An IMF delegation headed by its First Deputy Managing Director Mr. David Lipton visited the Institute of Digital Finance (IDF) at PKU on June 5th and had in-depth discussions with Chinese business leaders and scholars on the business practices and supervisory policies of Chinese Fintech.
Prof. Huang Yiping, IDF Director, warmly welcome the delegation and said that despite its world-leading position, China’s Fintech was not without challenges in both practices and oversight. Multilateral trade tensions and macro-economic uncertainties had exerted further tests, he said.
According to Mr. Lipton, learning from China could help IMF come up with advices for other countries’ Fintech development. He also pointed out that tech innovations had impacted less on traditional finance than was previously feared; conversely, it was conducive to optimizing financing environment for companies and prodding banks, insurance companies and security brokerages to become better professional investors. As to the impact of US-China trade wars on Fintech, he said that the answer remained nebulous but it’s advisable for companies to explore and mull over relevant issues.
The IDF and the IMF have undertaken multi-faceted cooperation in recent years. Currently the two sides are working on a joint report on China’s Fintech.
