A Comparative Study Of Policies To Promote The Development Of Internet Finance Industry

Since the 2014 government work report proposed to promote the healthy development of the Internet finance, the industry has been further developed, the market size continues to expand, from the initial simple payment, and gradually penetrate into the payment transfer, micro credit, asset management, cash management, fund consignment and insurance products, covering the business areas of traditional bank industry, securities firm and fund corporate. Under the strategy "Internet +", supporting with large numbers of emerging technologies, such as Cloud Computing, Big Data Analytics, Internet of Things(IOT) and mobile internet, the industry in China move to a new stage of " Internet + industry+ finance". The service internet financial institution, including Alipay, Lufax, Ant Financial, We Bank, have a rapid development recently and stimulate the industry significantly. Traditional banks also try to change their roles and strategies, take e-ICBC as an example, more and more banks are paying more attention on Internet finance and treating it from complementary, edge business to core and strategic business.As a new thing, Internet finance should not only follow the internal rules of market itself, but also need the government to increase support to promote its rapid and healthy development. To encourage the innovation and development, and create a good policy environment, we should take out the necessary policy measures to guide and promote the emerging industry. In 2013, Beijing Shijingshan district introduced the first policy on Internet Financing of the country. Since then, many locations, like Haidian District, Shenzhen, Tianjin, Beijing Development Zone, Shanghai, Guangzhou and other places have introduced policies to develop Internet financing industry. On July 18 th 2015, the policy, "guidance on the promotion of the healthy development of the Internet", which is drafted by PBOC and other relevant ministries, are officially enacted. The policy made requirements mainly from supervision, classification, collaborative and innovation perspective, however, not mention about how to develop the industry. In this context, a deep understanding of the nature of the Internet, and explore ways to promote the development of Internet finance, has significant meaning.In this paper, based on the concept and classification of Internet finance, I start from the current situation of Internet finance, analyze the necessity and feasibility of the government to promote the Industry in depth, and compare the relevant policies introduced by different local, trying to find out the basic classification and connotation of the existing policies. Finally, I will give some suggestions on how to promote the development of the Internet finance industry.