Misleading commercial propaganda constitutes unfair competition.

Nezha Automobile Association Company was punished.

(Reporter Yue Qian) Recently, the National Enterprise Credit Information Publicity System (Shanghai) showed that Nezha automobile related company Zhonglian Tianxia Automobile Sales & Service Co., Ltd. was fined 200,000 yuan by Shanghai Minhang District Market Supervision Bureau according to the first paragraph of Article 20 of the Anti-Unfair Competition Law because of its false or misleading commercial propaganda.

According to public information, Zhonglian Tianxia Automobile Sales & Service Co., Ltd. was established in 2018. It is wholly owned by Hezhong New Energy Automobile Co., Ltd. and belongs to the same parent company as Nezha Automobile. Its legal representative is Fang Yunzhou, and its main business includes new car sales and marketing planning.

According to the administrative penalty decision, on February 18th, 2022, Beijing Zhonglian Tianxia Automobile Sales & Service Co., Ltd. commissioned the members of the WeChat group of "Nezha Automobile Daily Media Group" to release an advertisement to promote its new model "Nezha S". The picture content in the advertisement is "The first batch of highly integrated nine-way valve group is applied in Nezha S industry", "The endurance in winter is improved by 20%" and "9 > 8 (number’ 9). The number’ 8′ is marked with Tesla, and’ 9′ has higher brightness and larger font size) "Nezha s extended range can reach 1100km to bid farewell to mileage anxiety".

The decision of administrative punishment holds that in the advertisement of this case, the parties take Jiutong valve group as a propaganda selling point, and through various combinations of words and graphics, they convey that the newly listed "Nezha S" car is the first vehicle in the industry equipped with Jiutong valve group and that it can increase the cruising range by 20% in winter. However, the conclusion of "20% increase in winter cruising range" comes from the fact that the parties concerned conducted the cruising range experiment of the same car with and without heat pump system, and formed an experimental report, and got the data of 20% increase in cruising range. As a matter of fact, the heat pump system was already used by many electric vehicles in the market at that time. The parties involved passed on the credit of the heat pump system that had been published to the newly used nine-way valve group of their new models by putting the two advertising words "Nezha’s first application of highly integrated nine-way valve group" and "20% improvement in winter endurance" next to each other, which objectively led to misunderstanding when the public read it.

The decision on administrative punishment also holds that in the "9>8" combination displayed by the parties, "9" and "8" are respectively extracted from the nine-way valve group used in the Nezha S car and the eight-way valve group used in the Tesla car. Although the number "9" is indeed greater than the number "8", the correctness of the comparison is limited to the category of simple numerical operation. The parties concerned project the comparison between two different automobile brands (models) by marking their own and "Tesla" brand (models) logos around the two numbers, and making the "9" brighter and larger in font size, thus forming misleading information and objectively leaving ".

The data shows that Nezha delivered 127,496 vehicles in 2023, which not only failed to achieve the annual sales target of 250,000 vehicles, but also dropped significantly compared with the annual data of more than 150,000 vehicles in 2022. When analyzing the reasons, the marketing problem was put on the table by Zhang Yong, CEO of Nezha Automobile. He said that the company’s communication mode is old, and the centralized management of the marketing headquarters needs to be strengthened. In 2024, he will concurrently serve as the general manager of the marketing company and comprehensively improve the marketing communication mode.

Under the background of accelerating the involution of automobile industry, marketing has also become another competition focus of automobile enterprises besides products and technologies. It has become a common phenomenon that "the head of the company" has become online celebrity, "the war of public opinion" has attracted attention and the flow of press conferences has been abundant. After the marketing stall, it even led to false propaganda, asking the water army to discredit opponents and other malicious acts. The competitive ecology of the automobile industry should have been based on products and technologies, but it has been polluted by behaviors such as brushing praise, deleting bad reviews, traffic fraud, playing list control and evaluation, and organizing a group war of words. In the face of unprovoked attacks, many car companies have opened online reporting centers to crack down on false information that damages the brand image, and give clues providers heavy rewards. At the same time, in order to jointly maintain a clean and upright network public opinion space and create a fair and just environment for the automobile industry, in March 2023, the Joint Committee of Chief Brand Officers of China Automobile Enterprises under the China Automobile Industry Association and its member units unanimously decided to jointly launch the "Joint Initiative on Resisting the Network Water Army of the Automobile Industry". People in the industry generally believe that illegal marketing and other behaviors can’t make a car, let alone a good brand. Consumers may be blinded by marketing in the short term, but long-term attraction depends on the real value of the brand. How to find a boundary between active marketing and over-marketing and keep the bottom line may be a problem that needs further consideration when getting off the bus.

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In terms of modeling design, it basically continues the previous family-style overall modeling style. The car gas field continues the family design concept, and the shape of the front of the car is very domineering. The design of the sharp headlights on both sides and the internal light groups are patchy and bright. The side waistline that rises on the side creates a sense of readiness, which looks very sporty and helps to highlight the shape of Touang. The shape of the rear of the new car is very simple, with a tendency to protrude backwards, which is very playful, and the penetrating taillights of the new car are even more shocking.

When you come to the interior of the car, the design of the interior of Tourang gives people the feeling that it is simple and atmospheric. The new car is also equipped with Volkswagen’s latest three-piece style, with shift paddles, which is very fun to drive. The center console is made of plastic and leather, and the materials and workmanship look quite satisfactory. It is equipped with an 8.0-inch central control LCD screen, which shows clearly and the design is relatively standard in all departments. The front row is also equipped with a dual-temperature automatic air conditioning control system to freely debug the most comfortable space atmosphere. The front and rear seats are relatively comfortable and can hold the family firmly.

The length, width and height are 5052×1989×1773mm respectively, and the wheelbase has reached 2980 mm. In the same class, the wheelbase of Touran ranks 56th. Touron 530 V6 four-wheel drive respects the flagship version of the skylight, which provides a wider view, can create a better visual environment and good sensitivity for the rear passengers, and increase the light intake for the whole vehicle. Among the models of the same price and class, the trunk volume of Tourang ranks 16th. The storage space in the car is quite satisfactory and basically sufficient. The interior space of the luggage compartment is relatively regular, with very good longitudinal depth and high expansibility, and the space performance is generally ideal.

Touran is equipped with a 2.5 engine with a maximum output of 220kW and a maximum torque of 500Nm. It will definitely bring unforgettable control charm. Touran’s official measured zero-acceleration score is 7.2S, ranking 158th among SUV models with more than 800,000.

Touran’s active/passive safety configuration is complete, includingAutomatic parking、Zero tire pressure endurance tire、Automatic parking、Steep slope descent、hill start assist control、knee airbag、HUD head-up display、Anti-lock braking (ABS)、Braking force distribution (EBD/CBC, etc.)、Brake assist (EBA/BAS, etc.)、Traction control (ASR/TCS, etc.)、Active noise reduction、Engine start and stop、Side safety air curtain、Wireless charging of mobile phone、night vision system、LED daytime running lights、Forward reversing radar、Tire pressure monitoring、Steering wheel heating、Body stability control (ESP/DSC, etc.)、Rear reversing radar、Fatigue reminder、Remote parking、Child seat interface、Lane keeping (LKAS)Equal configuration.

Among them,Automatic parkingYou can avoid stepping on the brakes for a long time or needing to pull frequently;Steep slope descentCan safely pass through steep slope road conditions at low speed;knee airbagReduce the injury of the car interior to the occupant’s knees in the secondary collision.

In addition to the above description, we can also go to the Easy Car Forum to browse more real car feedback from actual buyers, or use our experience.

In the high-end intelligent electric vehicle industry in China, the price range of 250,000 to 400,000 yuan has become the most competitive market among brands. This price range not only has outstanding product features, but also is regarded as the main battlefield of the future high-end smart electric vehicle market by the industry.

As a model supported by Changan Automobile’s many years of automobile manufacturing experience, Contemporary Amperex Technology Co., Limited’s cutting-edge battery technology and Huawei’s intelligent technology, it has demonstrated its profound technical strength since its listing and won excellent user reputation in the market. Since it was launched on November 10th, 2023, the cumulative delivery volume of Aouita 12 has exceeded 10,000 vehicles in just four months, and the order volume has reached an astonishing 40,000 vehicles. In the domestic medium and large pure electric luxury car market segment with the price of 300,000 to 400,000 yuan, Aouita 12 ranks first in sales volume with its outstanding performance, and has become the benchmark product in the new energy car market in China.

Nowadays, the 2024 Aouita 12 has not only been added and reduced in price, but also been fully upgraded in three major areas: top luxury, top intelligence and top security, and has begun to be displayed in major sales stores. Xiaobian also went to the store for a field trip at the first time to explore the core upgrade of this new model.

Upgrade 1: Guochuang Design Rejuvenates

Xiaobian visited the Aouita Experience Center in Sihai City, Panyu District, Guangzhou, Guangdong Province. Just entering the store, the 2024 Aouita 12 came into view. The staff warmly welcomed me and introduced it to me.

It is understood that Aouita 12 is positioned as a medium-sized and large-sized vehicle, with the length, width and height of 5020×1999×1460(1450)mm respectively. Compared with its size, it has increased in terms of wheelbase, vehicle width and body length. From the point of view of real vehicles, this model has well continued the original design concept of Aouita series, and at the same time strived for innovation in detail handling, incorporating futuristic aesthetics, and at first glance it looks very harmonious and unified at the scene.

The staff told Xiaobian that the 2024 Aouita 12 has an axle length ratio of 0.61, an aspect ratio of 1.38 and a wheel height ratio of 0.514. At the same time, the innovative "chameleon" paint technology has been newly introduced into this model. This unique paint surface can show a dazzling gradient effect from different perspectives, greatly improving the appearance and texture of the vehicle, and Aouita 12, which is equipped with this color in Guangdong, will also enter the store one after another.

The design of the new car’s electronic exterior rearview mirror is particularly eye-catching (presented by the manufacturer and optional by the customer), which is high-tech and practical. The visual attraction of the whole vehicle is significantly improved, and at the same time, the aerodynamic performance of the vehicle is effectively optimized and the wind resistance is reduced.

When invited by the staff to experience in the cockpit, Xiao Bian found that whether it is the electronic rearview mirror outside the car or inside the car, the image is very clear on the screen inside the car and has a very good visual experience.

During the experience, Xiao Bian also clearly felt that the entire cockpit was almost wrapped in advanced materials, and there was no place that did not show its luxury. It is particularly worth mentioning that all the seats in the car are made of NAPPA leather, which is famous for its smooth and delicate touch and provides the passengers with the ultimate comfort experience. At the same time, the standard zero-gravity seat in the front of the vehicle is equipped with 16-way electric adjustment, three-speed heating and ventilation and eight-point massage functions, which provides superior ride comfort for drivers and passengers.

The store is located in the business circle, and there are bustling people outside. In order to better communicate, Xiaobian closed the window. At the moment when the window was closed, Xiaobian obviously felt that the noise inside the car had been largely isolated from the window. The staff said that Aouita 12 effectively created a quiet driving environment by using double-layer sound insulation laminated glass and a unique acoustic package scheme. It is reported that when the vehicle speed reaches 140 km/h, the noise inside the vehicle is only 68 decibels.

In addition, the Aouita 12 was designed with practicality and comfort in mind. Based on the innovative "double energy well" pedal submersible battery technology, a concave pedal area with a depth of about 45 mm was designed under the rear seat of Aouita 12. This design significantly increases the head space of the rear passengers, up to 25 mm, without increasing the height of the car body and maintaining sufficient battery clearance from the ground. Sitting in the back row with Shuang Yi rice space will be more leisurely.

Audiovisually, Aouita 12 is equipped with a high-fidelity CST coaxial speaker with a power of 1200W W. Xiaobian ordered a classic old song on the spot, which can clearly feel the clear transmission and deep echo of every note, as if in a concert hall, and the ambient lights in the car can follow the music rhythm. 32 ambient lights will flow in the front and rear of the car cabin and the door area, weaving a visual and auditory feast of future aesthetics.

Upgrade 2: Re-evolution of intelligent strength

Aouita 12 can be said to be the benchmark work under the HI mode of Huawei, and it is also one of the few models with a starting price of 260,000 yuan, and it is also one of the models with high Chinese content among similar products.

Xiaobian played the 15.6-inch central control panel and the 35.4-inch 4K panoramic widescreen of the 2024 Aouita 12, and the overall fluency can be said to be in the top stream. At the same time, Huawei’s HarmonyOS HarmonyOS 4.0 car system and Huawei ADS 2.0 advanced intelligent driving assistance system are built in, which further improves the driving experience.

With the consent of the staff, Xiao Bian conducted a test drive on Panyu Avenue. I have to say that Aouita 12 has three laser radars and 29 intelligent driving sensors as standard. It is really very worry-free and labor-saving to turn on the navigation-assisted driving function on high-speed and urban roads. At the same time, it also has the ability of automatic parking and remote control parking, and novices can also be "old drivers". It is worth mentioning that these functions of Aouita 12 do not need to rely on high-precision maps, and have covered many road types in the country, which can provide NCA-level intelligent driving experience in urban areas and bring users a safer and more convenient driving experience.

According to reports, Aouita 12 offers four driving modes: energy saving, comfort, exercise and personalization. Xiao Bian thinks that the comfort mode is more suitable for daily use. Xiaobian started in the default comfort mode during the test drive. Under this mode, the vehicle accelerated steadily and rapidly, especially in the starting and medium-speed stages, and performed very well. Due to the large traffic volume in the city, Xiao Bian did not experience the sports mode, but the staff told Xiao Bian that the power output of Aouita 12 would be greatly enhanced, and when the accelerator pedal is deeply stepped on, the powerful propulsion can make the driver feel a sense of continuous acceleration.

At present, the reliability and user trust of Aouita Intelligent Driving Technology have been proved by the high frequency use of its intelligent driving function and the accumulated intelligent driving mileage of more than 44 million kilometers. Xiaobian’s test drive of this car has just passed the OTA upgrade. The staff said that the upgrade optimized most functions of the vehicle, such as optimizing the traffic capacity of tidal lane and bus lanes, and adding a new lateral obstacle collision prevention system (LOCP). At the same time, in order to ensure that users often use new products, Aouita will also upgrade OTA several times this year to ensure that vehicle functions can be improved and optimized.

Upgrade 3: Safe travel is more worry-free

To say that the most attractive upgrade of the new car is Aouita 12′ s global 800V high-voltage platform, the 5C fast-charging power battery loaded in the new car can be quickly charged in a very short time (only 30 minutes from 0% to 80%), and the battery has successfully passed more than 150 special safety and performance tests, meeting the five-star safety standards.

In terms of safety, the 2024 model of Aouita 12 also performed well. The model is equipped with 19 intelligent active safety configurations, and with the support of three laser radars, a four-layer perception system is built, including a variety of full-speed AEB function matrices such as GAEB, RAEB and LAEB, which realize 360-degree surrounding anti-collision protection, surpassing most mainstream luxury BBA brands. In terms of passive safety, Aouita 12 adopts a cage-type car body structure mixed with steel and aluminum, and more than 80% of the car body uses aviation-grade aluminum and high-strength steel, providing a solid protective barrier for passengers.

Brand-new equity: equity Double

When returning to the store after the test drive, the 2024 Aouita 12 in the hall has attracted many tourists to stop and watch, but besides being attracted by the appearance, the most attractive thing for consumers is the brand-new double rights and interests of Aouita 12.

The staff informed that consumers who order new cars before April 30, 2024 will enjoy four time-limited policies and five basic rights and interests, with a maximum discount of 32,000 yuan, that is, the five models only need 26.58-376,800 yuan after the price range is discounted. The following small series has compiled detailed preferential rights for everyone.

Among them, the limited rights and interests are as follows:

1. Consumers only need to pay a deposit of 5,000 yuan, and they can deduct up to 27,000 yuan when buying a car (700 three-laser rear-drive smart version is not applicable);

2. The first car owner will enjoy the warranty service of the lifelong three-electricity system;

3. For the designated models, the manufacturer shall provide the front double-zero gravity seat with a value of 10,000 yuan (limited to 700 three-laser rear-drive luxury edition and 650 three-laser four-wheel drive performance edition);

4. The down payment ratio is as low as 15%, and you can choose a low-interest financial plan with a maximum of 60 periods, with an average annual rate as low as 2.4%.

The basic rights and interests are as follows:

1. Five-year or 120,000-kilometer vehicle warranty, and a longer-term eight-year or 160,000-kilometer three-power system warranty;

2. Free road rescue service with unlimited mileage for ten years (any mileage and unlimited rescue distance);

3. Car owners will also enjoy free basic traffic of car networking for life and 10G cockpit entertainment traffic per month;

4. Give an ADS advanced function package, including a number of intelligent driving assistance functions (such as high-speed lane cruise assistance, high-speed intelligent driving navigation assistance, urban lane cruise assistance, intelligent parking assistance and remote parking assistance).

This series of policies not only covers new customers, but also old customers will not be ignored. According to the official statement of Aouita, existing car owners will enjoy the advanced intelligent driving function of Huawei ADS for free for life.

After a half-day shop visit, it is not difficult to see that Aouita 12 has made significant changes in technological innovation and design aesthetics. The 2024 Aouita 12 is the epitome of Changan’s manufacturing capability and Huawei’s technology. With the new allocation, the rights and interests have doubled, which proves that it is worth the money. I believe that Aouita will continue to polish the label of high-end intelligent electric vehicles in China in the future.

Group photo of all representatives at the signing ceremony

1905 movie network news 　On the afternoon of April 21, the signing ceremony of the 7th Beijing International Film Festival Film Market Project was held at the Beijing International Hotel. As the highlight of the ceremony, Wanda Cinemas and The Force Animation reached a signing cooperation agreement for the animated film "Duck Duck Goose". As an industry giant, Wanda Cinemas chose to join forces with the leading domestic CG animation company, The Force Animation, in an attempt to create the first globally released animated film in China. In today’s domestic animation industry, "Mom Duck" is expected to make Chinese animation go global next year.

The team behind the scenes gathered big coffee, and the scene was praised for the texture of the picture to challenge Hollywood

Jiang Defu, General Manager of Wanda Cinemas, signed a group photo with Zhao Rui, CEO of Force Animation, and Zhang Suyue, Vice President of Strategy of Force Animation

On the day of the signing ceremony, Jiang Defu, assistant to the senior president of Wanda Cultural Industry Group and general manager of Wanda Film and Television Media Co., Ltd., and Zhao Rui, CEO of Force Computer Animation Co., Ltd., and Zhang Suyue, vice president of strategy of Force Computer Animation Co., Ltd., came to the stage and signed on behalf of both parties, officially announcing the formation of this strong alliance. Then a clip of "Mom Duck" was played on the scene. Its IDC rendering power that broke through the traditional CG barrier brought a full visual impact. The scene also received a lot of praise. The texture of the praised picture has reached Hollywood level. At the same time, the cute and cute character image is also amusing.

The animated movie "Mom Duck" tells the story of Dayan PENG and a pair of duck siblings who formed a "southward migration to find relatives" team due to a chance meeting, experiencing a series of thrilling, exciting and interesting adventures along the way, and finally successfully reaching the habitat and completing the story of self-growth.

As the first original animated film to be released globally at the same time in China, "Mommy Duck" also has a strong behind-the-scenes team. The Force Animation, a top domestic CG animation company, is responsible for the full control. As the only Chinese company to set up an animation creation company in Hollywood, it has now joined more than 60 top overseas animators who have worked for Disney and Pixar. The director of this film, Chris Jenkins, has served as the art coordinator and special effects animator of many well-known animated films, and the producer Sandra Rabins has served as the executive producer of "Shrek" and "The Elf Hotel". It ensures that the film is controlled by a domestic team while still being international. The prospect of "Mommy Duck" is also very optimistic, and it is also regarded as a competitor for the highest quality 3D animated film in China in 2018.

Wanda Force joins forces to help the domestic animation industry become bigger and stronger

Jiang Defu, General Manager of Wanda Cinemas, Zhao Rui, CEO of Force Animation, Zhang Suyue, Vice President of Strategy of Force Animation

As the largest high-tech CG entertainment content creation company in China, The Force Animation is also the only animation company in China with industrialized production capabilities. Its large-scale creative team of more than 1,300 people has a strong creativity to produce an original work every 18 months. Previously, it had done post productin for the movie "Monster Hunt" and was also the producer and exclusive CG producer of the movie "Jazz".

In addition to striving to create works that are infinitely close to the highest quality and adapt to the global market, The Force Animation pays more attention to the ecology of IP, from multi-type IP mining and creation, to nurturing into a diverse form of pan-entertainment content, including movies, literature, games, network dramas, etc., and focuses on derivative copyright operation, opening up and gradually covering all aspects of the industrial chain. Under the perfect integration of technology and art, The Force Animation also has the industry’s leading technology research and development and technology application capabilities, and cooperates with the world’s top technology to optimize and lead the trend.

As one of the industry leaders, Wanda Cinemas has integrated film and television project development, investment, production, publicity, marketing, copyright management and other multi-faceted film and television functions since its establishment in 2011, and actively participates in overseas film and television business cooperation. And produce many excellent film works such as "Dragon Hunting Secret", "Pancake Man", "Charlotte Troubles", "Detective Chinatown", "Hot Pot Hero" and so on.

Therefore, this strong collaboration at home and abroad has also made the industry more optimistic about the prospects of "Mom Duck". At the same time, with the continuous mining of domestic high-quality IP value, the domestic animation industry has also begun to make qualitative breakthroughs. The popularity of high-quality domestic content such as high-quality animations and movies has made the Chinese animation market, animation fans and the industry see new hope. At the moment when the industry is gradually becoming bigger and stronger, "Mom Duck" comes with strong originality and technical standards, and is also expected to write an important note for the entire domestic animation industry.

Today (13th), the State Council released the Implementation Plan for Special Remediation of Internet Financial Risks. Comprehensive arrangements were made for the special rectification of Internet financial risks. This move means that the official "sword" refers to the internet financial risks, sets a "military order" and sets a "timetable".

The plan calls for the completion of the special rectification of Internet financial risks by the end of March next year, and the key rectification areas include:

P2P peer-to-peer lending and Equity Crowdfunding Business

Asset management and cross-border financial business through the Internet.

Third-party payment service

Advertising in the field of internet finance

The goal is to form an overall report on Internet finance rectification in China, and establish and improve a long-term mechanism for Internet finance supervision.

In addition, the following five documents were released today:

The People’s Bank of China and other 17 ministries and commissions "Implementation Plan for Asset Management through the Internet and Special Remediation of Cross-border Financial Business Risks";

The People’s Bank of China and other 14 ministries and commissions "Implementation Plan for Special Remediation of Risks of Non-bank Payment Institutions";

CBRC’s Implementation Plan for P2P peer-to-peer lending Risk Special Remediation Work.

China Insurance Regulatory Commission and other 15 ministries and commissions "Implementation Plan for Special Remediation of Internet Insurance Risks".

The CSRC and other 15 ministries and commissions "Implementation Plan for Special Remediation of Equity Crowdfunding Risks"

Specifically:

For P2P platform: no fund pool can be set up.

The "Program" stipulates that:

P2P peer-to-peer lending Platform should keep the legal bottom line and policy red line, implement the nature of information intermediary, and shall not set up a fund pool, issue loans or illegally raise funds.

Interpretation:

Wang Yahong, an expert on financial issues:In recent years, after the incidents such as Easy Rent Bao and Pan Asia Institute, Internet finance has not had time to develop and show its inclusive side, and it has prematurely assumed a disgraceful reputation. Strict supervision of P2P industry is conducive to the healthy and orderly development of Internet finance, and it is necessary and timely to carry out special rectification.

For the equity crowdfunding business: no false targets shall be published, and no self-financing shall be allowed.

The State Council’s "Program" stipulates that:

The equity crowdfunding platform shall not publish false targets, raise funds by itself, or raise funds in disguised form. It shall strengthen the information disclosure obligations and shareholders’ rights protection requirements for financiers and equity crowdfunding platforms, and shall not make false statements and misleading propaganda.

Interpretation:

After the publication of the Administrative Measures for Private Equity Crowdfunding (Trial) (Draft for Comment) in December 2014, there was no formal policy for equity crowdfunding since then, and the supervision was backward. This time, the State Council’s notice may have pointed out the key supervision direction in the future.

For real estate finance: it is forbidden to make down payment and standardize crowdfunding to buy a house.

The "Program" stipulates that:

Real estate development enterprises, real estate intermediaries and internet finance institutions shall not engage in real estate finance business by using P2P peer-to-peer lending platform and equity crowdfunding platform without obtaining relevant financial qualifications; Standardize internet "crowdfunding to buy a house" and other behaviors, and prohibit all kinds of institutions from carrying out "down payment" business.

Interpretation:

Under the background of tightening regulation of the property market, it is strictly forbidden to leverage the property market through black-box operations such as crowdfunding to buy a house and down payment.

For Internet companies to engage in cross-border financial business: they should obtain qualifications.

The "Program" stipulates that:

Internet enterprises shall not rely on the Internet to carry out corresponding business without obtaining relevant financial business qualifications, and the essence of conducting business shall conform to the obtained business qualifications.

Without the approval of the relevant departments, many kinds of financial products issued by private placement may not be sold to the public through packaging or splitting.

Interpretation:

Seventeen ministries and commissions, including the central bank, issued the "Implementation Plan for Special Remediation of Asset Management and Cross-border Financial Business Risks through the Internet", proposing that the key points of remediation include: all kinds of Internet enterprises with asset management-related business qualifications but irregular business; All kinds of internet enterprises that carry out financial services such as asset management across borders; Internet enterprises with a number of financial business qualifications and obvious comprehensive operating characteristics.

For third-party payment services: no unlicensed operation is allowed.

In answering a reporter’s question, the leading group for special rectification of Internet financial risks pointed out:

The rectification in the field of third-party payment focuses on the risk of non-bank payment institutions’ reserve funds, inter-agency clearing business, and unlicensed payment business. The third-party payment field has implemented business licenses, and special rectification work will be carried out for institutions that operate payment business without licenses.

Interpretation:

Zhao Wei, Deputy Secretary General of Financial Innovation and Internet Finance Legal Research Center of China University of Political Science and Law:

In recent years, the third-party payment industry has developed rapidly. Non-bank payment institutions have played a positive role in promoting the innovation of payment services and improving and upgrading the level of payment services. However, some problems have also been exposed in its rapid development, especially some payment institutions and even commercial banks have opened payment channels to institutions and personnel engaged in payment business without permission, providing payment convenience, which has caused many cases of infringing on customers’ rights and disrupting financial order.

From the characteristics of the risk events and cases that have occurred, the payment business without a license mainly involves: First, the core business of acquiring bank cards without a license, such as "second clearing". The second is to operate online payment services without a license, such as "big merchant settlement" and electronic wallets that open payment accounts. The third is the issuance and acceptance of multi-purpose prepaid cards without a license.

From the perspective of social harm, the harm of unlicensed payment business is becoming more and more serious. The first is to endanger the safety of customers’ funds and seriously infringe on consumers’ rights and interests. Secondly, it endangers the security of payment information and encourages criminal behavior. Finally, it endangers the market operation order and has no bottom line competition. It has seriously disrupted the market operation order and endangered the safe and steady operation of the payment service market.

Therefore, the just released "Implementation Plan for Special Remediation of Risks of Non-bank Payment Institutions" has made it clear that the rectification of unlicensed payment business should be included in the special rectification of risks of non-bank payment institutions, and all relevant cooperative departments should clarify their responsibilities and determine the time plan, so as to complete centralized cleaning and disposal before the end of November 2016. The "Proposal" also emphasizes the need to promote the establishment of a working mechanism for the normalization and rectification of unlicensed payment services. Only by increasing punishment and forming a long-term system and long-term measures can we completely eliminate the "black sheep" and maintain the healthy development of the payment service market.

Cctv review

Special rectification is an important step to gradually improve the Internet financial supervision system. Internet finance is a new thing, and the deep integration of Internet and finance is also the general trend, which will have a more profound impact on financial products, business scope, organizational structure and service forms. However, the old financial supervision mechanism has lagged behind the development of internet finance in many aspects, so there are many loopholes in practice. On the other hand, the complex structure of Internet finance projects also increases the difficulty of supervision in reality.

The special rectification work is to check and fill the gaps in a targeted manner, further clarify the risk bottom line of Internet finance, protect legal operations, and resolutely crack down on illegal and illegal activities. This means that we can take an important step in gradually improving the supervision of financial Internet financiers, and on this basis, we can further standardize the development of Internet finance, maintain market stability, and effectively protect the interests of market participants.

As a new thing, the development of Internet finance needs not only market-driven, but also technological innovation and policy-standardized development. These are the three pillars supporting the development of Internet finance. Only when the pillars are more stable can Internet finance develop more rapidly in the future and have the opportunity to fully demonstrate its unique charm of innovation and inclusiveness.

Wen Wen Zhao, Deputy Secretary-General of Financial Innovation and Internet Finance Legal Research Center of China University of Political Science and Law

Wang Yahong, an expert on financial issues

Producer/Editor-in-Chief Tang Yi/Li Zhe

Editor/Ji Zhiwen