Research On The Development Of Consumer Finance Business In China

In recent years,as China's economy has entered a "new normal",and both exports and investment have shown a weak trend,stimulating consumption has a key role in boosting the vitality of the national economy.Especially in the residents'consumption idea to speed up the transformation,financial sustainable development of science and technology and national policy support,the booming consumer financial markets,provided strong impetus to the consumption upgrading.Banks,licensed consumer finance companies,electric business platforms,P2P platforms and other institutions begin to provide consumers with fast and convenient consumer financial services.The application of advanced technology,such as big data,cloud computing and artificial intelligence,has greatly improved the business process of consumer finance,improved the efficiency of consumer finance,and showed that the consumer finance market is thriving.The development of consumer finance plays an important role in promoting the improvement of residents' consumption level,upgrading the economic structure,and promoting financial innovation.However,behind the prosperity of consumer finance,the developing model is not mature due to the short time of consumption finance development in China,and different organizations still have many common problems in business operation.First,the concept of business development needs to be improved,and customers' needs are not truly satisfied;Second,the business innovation ability is insufficient,and product homogenization phenomenon is serious;Third,the market structure is unreasonable,the development of various institutions is unbalanced,and the business layout of different regions are unbalanced;Fourth,the problems of business risk are very serious;Fifth,supervision,credit investigation and protection of consumers' rights and interests need to be improved.Based on the above problems,this paper believes that the following measures can be adopted to promote the development of China's consumer finance business.First,the institutions should fundamentally change the concept of business development and grasp consumers' differentiated needs.Second,increase the investment and application of financial science and technology,and enhance the business innovation ability of institutions;Third,enhance the comprehensive competitiveness of service theme and form an effective competition pattern;Fourth,close to consumer life,explore various consumption scenarios and expand business area;Fifth,the institutions should improve the risk control and control capacity of institutions;Sixth,the government should pay attention to the improvement of infrastructure,and ensure the stable development of the consumer finance business.