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Internet finance a hot topic at Boao Forum

CCTV.com

04-09-2014 16:42 BJT

Full coverage: Boao Forum for Asia Annual Conference 2014

Each year at the Boao forum experts from around the world debate hot issues in the business community. This year’s forum, the spotlight falls on internet finance. Academics and professionals are in deep discussion about its impact and significance.

Heated debate and opposing views. Financial gurus were not holding back on what they think of internet finance at Tuesday’s panel. Alwyn Didar Singh, secretary general of the Federation of Indian Chambers of Commerce and Industry, holds a positive view on this nascent sector, and believe it would be a strong force to drive up economic growth.

On the other hand, former chief economist of the World Bank Justin Yifu Lin expressed his opposing view.

Some other economists at the panel agreed with Mr. Lin.

In a separate panel, professor Chen Zhiwu from Yale University also expressed his negative views on the popular internet finance product Yu’ebao, an online currency fund launched by Alibaba. He said the success of Yu’ebao is because it exploited loopholes in China’s financial supervision.

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