The relevant departments should officially include the electronic payment industry in the scope of policy permission and encouragement for development, and increase support for electronic payment enterprises. Especially, it is necessary to ensure that the field of electronic payment, which involves national financial security, is always dominated by ethnic enterprises 

Against the backdrop of the financial crisis, the National People's Congress proposal on increasing policy support for the electronic payment industry proposed by Mei Zhen, the dean of Zhejiang Textile and Clothing Vocational and Technical College, has attracted considerable attention. 

The Paradox of the Current Financial System 

Recently, the US Treasury Department had to increase Citibank's stake to 36%, and nationalization of the US banking industry is no longer a speculation; HSBC Holdings in Hong Kong has also fallen for several days, with its stock price dropping to a historic low of HKD 43. HSBC's £ 12.5 billion rights issue plan has also raised concerns among investors. For the existing financial system, on the one hand, it faces the problem of insufficient capital liquidity, and on the other hand, it is afraid to issue more banknotes at will to avoid currency depreciation causing turbulence in the real economy. 

For business people in the real economy, dealing with the traditional financial system is not an easy task. More than one executive from a large company has stated that banks always persuade you to borrow money when you don't need it; And when you really need money, you can't borrow it. For small and medium-sized enterprises, the energy and income spent on borrowing from banks are disproportionate. From the perspective of banks, there are also difficulties: the risk of lending to small and medium-sized enterprises is particularly high, while the cost and benefit are disproportionate.      

This is the problem encountered by the "economic train" in the real world - there is a fault between the tracks and the wheels - and the economic system also derails accordingly. Reforming the existing financial system has become an urgent task. 

Li Yining, Deputy Director of the Economic Committee of the National Committee of the Chinese People's Political Consultative Conference and economist, stated at the opening of the two sessions that the reform areas that need to be vigorously promoted in the coming year are ensuring the vitality of the private economy and the reform of the urban-rural dual system. Li Yining believes that the risk that should be noted is that banks will generate a large number of bad debts again. In terms of monetary policy, he still suggests actively promoting credit expansion. However, credit should be given to small and medium-sized enterprises, which not only refer to private enterprises, but also include collective enterprises. Minister of Industry and Information Technology Li Yizhong also stated that small and medium-sized enterprises are a key and difficult point in economic recovery. Currently, the most important thing is to solve the problem of financing difficulties for small and medium-sized enterprises

In addition to financing, promoting the healthy flow of capital requires innovative financial instruments; However, Mei Zhen believes that in addition to traditional basic financial methods, we should seize the opportunity to vigorously develop the construction of e-commerce supporting infrastructure such as electronic payments.

The proposal is timely 

In 2008, electronic payment was already a hot topic of market attention. According to data from third-party research institutions, in 2008, the market size of third-party electronic payments in China reached 274.3 billion yuan, an increase of 181% year-on-year compared to 97.6 billion yuan in 2007, and has been growing by over 100% year-on-year for four consecutive years. The growth rate of 181% also far exceeded the growth rate of other Internet core industries such as online advertising, B2B e-commerce, search engines, online games, online shopping and so on. 

At present, a number of electronic payment enterprises such as Alipay, UnionPay electronic payment, Tenpay, and Kuaiqian have gained considerable strength and scale. Take Alipay, a large electronic payment service provider, for example. By the end of 2008, its number of users had reached 130 million, daily transaction volume 550 million, and daily transaction volume 2.5 million.      

At present, in addition to small and medium-sized enterprises and individual sellers conducting online transactions through electronic payments and earning profits, the general public has also gained a more convenient and cost-effective consumption experience from it. According to the services provided by some * * electronic payment service providers such as Alipay, some people in Shanghai, Hangzhou and other regions have even paid daily utilities such as water, electricity and gas through electronic payment. Some small and medium-sized enterprises and individual sellers rely on their credit accumulation on Alipay, and even can easily obtain loans from cooperative banks to solve the financing problem in their own development. It can be said that electronic payments have penetrated into all aspects of economic development, business operations, and people's lives. 

In addition, in the process of global integration, electronic payment has become one of the important means of trade settlement. Therefore, improving payment efficiency has become a breakthrough point for electronic payment service commerce. Enterprises like Alipay have already gone out of the * * market, and have expanded overseas businesses in an all-round way, such as China Construction Bank (4.23,0.01, 0.24%), Bank of China (3.49, -0.09, -2.51%), etc. Tens of millions of Alipay members can use RMB to purchase foreign currency denominated goods on the website of Alipay's overseas online merchants. Many other electronic payment companies, such as Chinapay and Tenpay, are also actively exploring diversified development paths. 

However, relevant policies and regulations have not been introduced, and many electronic payment companies are somewhat like "crossing the river by feeling the stones". Where can we do it, where is the forbidden zone, what is standard and what is not standard, everyone is unclear. At a time when the scale of the enterprise has reached such a point of confusion, * Meizhen's proposal seems timely.

Supporting electronic payments to revitalize the real economy 

Not only electronic payment companies, but also many enterprises looking forward to transforming through e-commerce strongly support this proposal. XXX from Jiaxing XXX Leather Goods Co., Ltd. is one of the representatives. 

In April 2001, he borrowed 100000 yuan to establish a trade consulting company and began his first entrepreneurial journey. It took 6 years to develop it into a luggage manufacturing enterprise, and then joined Alibaba China as a supplier, specializing in export business and rarely involved in domestic sales. Most of the bags and suitcases we export are mainly branded, and the profits are taken away by the brand owners, "XXX said. 

In October 2006, XXX fully entered the field of e-commerce and began his first entrepreneurial journey in life. "At the beginning, many users were not familiar with our brand, so we chose Alipay as our online payment partner, because Alipay's cash on delivery model helped us build trust with users. Later, as users gradually learned about us, many users directly paid us through Alipay, which accelerated the speed of capital collection and provided a good guarantee for my * * venture." 

Relying on Alipay's huge user base and reliable payment method, the online order rate of XXX through Alipay has reached more than 70% so far. Like XXX, there are countless "bosses" who have successfully started businesses using electronic payments, such as Zhao Changlu from Yilan Glasses Network and Xiang Hua who specializes in professional Babidou photo albums.

Under the innovation of financial instruments represented by electronic payments, the real economy has taken a completely different path. According to Yang Qun, an analyst at Warring States Policy, "In the field of electronic payments, the gap between China and the United States and Europe is very small. If regulations can be effectively managed and guided now, it can not only have a positive impact on expanding domestic demand, but also help China's active small and medium-sized economic entities to exit, achieve effective export and risk control

Call for management policies to be introduced as soon as possible 

Management and guidance cannot be just verbal* Mei Zhen believes that in order to truly support, the first specific measures that need to be implemented include the formal introduction of guiding policies such as the "Management Measures for Payment and Clearing Organizations", which make clear provisions on the identity nature, admission threshold, business management, risk supervision, etc. of electronic payment institutions. Provide preferential measures to some electronic payment companies to encourage their development and growth. 

It is understood that as early as 2005, the People's Bank of China announced the "Management Measures for Payment and Clearing Organizations (Draft for Comments)" and solicited opinions from the society. However, due to various reasons, this method has not been introduced for a long time* Mei Zhen said, "As it directly involves funds, the regulation and development of the electronic payment industry are directly related to the financial security of enterprises and users, and urgently require the recognition, regulation, and support of relevant laws, regulations, and policies. 

She believes that mainstream electronic payment companies can consciously maintain communication with regulatory agencies such as the People's Bank of China, demand strict standards of themselves, and have the strength to ensure the safety and vital interests of users' funds. However, the potential security risks that some small and medium-sized electronic payment institutions may have, such as a lack of necessary technical strength, a lack of risk control capabilities and experience, and even abuse of customer transaction margin, must also be highly concerned. 

*Mei Zhen said, "To regulate and promote the development of the electronic payment industry, and use it as a basis to drive enterprises to upgrade and transform to e-commerce, and to safeguard the interests of users, the country must increase policy support for the electronic payment industry. This support should include both regulation and supervision, as well as guidance and support. 

Analysts believe that the key to the importance of this proposal lies in the word 'regulation'. The main problem of the current financial tsunami comes from the "foam" of the virtual economy in the United States - that is, highly dependent on the circulation of virtual capital to create profits. The virtual economy itself does not create value, and its existence must be dependent on the real productive economy. The current financial crisis in the United States is a concentrated reflection of the consequences of excessive virtualization and liberalization of the economy. 

The person believes that National People's Congress deputies can wisely identify the problems and suggest that the government strictly control the chain risks brought by financial mixed operation internally, especially to prevent the erosion of the existing financial system by allowing non-standard virtual economy behavior to occur; But we cannot give up eating just because of choking. We should actively support the close integration of virtual economy and real economy, and vigorously develop the financial services industry. In particular, electronic payment, as a means of improving productivity, can not only realize industrial upgrading, but also effectively prevent the virtual economy from breaking away from the real economy and turning into a foam economy. This is the true meaning of norms。