China News Service, Beijing, November 25 (Reporter Xia Bin) Liu Feng, deputy secretary of the Party Committee and Secretary-General of the China Banking Association, said when attending the "Fifth China Digital Banking Forum" in Beijing that he would comprehensively promote digital transformation and provide finance for the digital economy. New momentum, and the banking industry has entered a new stage of comprehensive digital operations, with new challenges and new opportunities coexisting.

  Liu Feng said that at present, new-generation technologies such as the Internet, big data, cloud computing, artificial intelligence, and blockchain are accelerating innovation and are increasingly integrated into the entire process of economic and social development.

The "14th Five-Year Plan" released this year proposes to embrace the digital age, accelerate the construction of a digital economy, a digital society, and a digital government, and drive the transformation of production methods, lifestyles and governance methods through digital transformation as a whole.

  In his view, China's banking industry conforms to the general trend of the digital economy, actively seizes digital opportunities, accelerates digital transformation from point to aspect, and becomes an important service provider and co-builder of China's digital economy ecology.

Promoting digital transformation is an important starting point for the banking industry to embrace the digital age, temper digital competitiveness, improve the real economy and level of financial services, and move towards high-quality development.

  Feng Liu pointed out that banking institutions have formulated targeted digital transformation development strategies and financial technology development plans based on national planning and regulatory requirements, as well as the external environment and their own realities, and clarified their digital transformation goals.

  For example, the China Construction Bank issued the "China Construction Bank Financial Technology Strategic Plan (2021-2025)" and established "Enable new financial development to achieve new results", "New financial digital infrastructure construction to achieve new results", and "Technical innovation and independence." "Controllable capabilities form a new pattern" and "institutional mechanism construction glows with new vitality" four new goals.

  In addition, banking institutions have also increased their support and reforms for digital transformation in terms of resource allocation, organizational systems, and indicator assessment.

In 2020, banks and insurance institutions invested more than 240 billion yuan in information technology funds, an increase of 21% year-on-year, and the number of information technology personnel was close to 150,000, an increase of more than 17% year-on-year.

Banking financial technology companies have also continued to expand, and have now increased to 14, becoming pioneers in the digital transformation of the industry and a powerful tool for enhancing the digital capabilities of banking institutions.

  Liu Feng also mentioned that in recent years, banking institutions have deepened their digital application capabilities, spurring the transformation of smart finance from peripheral support to core leadership, innovating operating and business models, actively strengthening cross-border cooperation, and cooperating with external institutions on products, technologies, and traffic. Open collaboration.

  At the same time, relying on the empowerment of new technologies such as big data, cloud computing, artificial intelligence, and blockchain, establish digital links with individuals, enterprises, and governments, and jointly build an open ecosystem, extending the reach of digital services to rich social and economic service scenarios Enhance the "bank as a service" capability, provide customers with intelligent, one-stop, personalized, and convenient ubiquitous financial services, make financial services more diversified and more intimate, improve customer experience, and enhance services Energy efficiency of the real economy and the new economy.

  For example, Ping An Bank builds an open banking applet platform, introduces third-party services in a standardized, self-service, and scenario-based manner, deeply integrates financial services and user life scenarios, and forms a new ecosystem of complementary advantages and win-win development.

  Liu Feng emphasized that the current development of the digital economy is changing with each passing day and is unstoppable. During the "14th Five-Year Plan" period, the banking industry should further adapt to the needs of high-quality financial development and smooth supply and demand cycles, innovate technological paths, and take digital transformation as a structural aspect of the financial supply side. The starting point of the reform is to deeply understand the trends and laws of the digital economy era, fully grasp the new round of scientific and technological revolution and new opportunities of industrial transformation, and on the basis of adhering to the fundamentals of finance, use new ideas and new thinking to continue to accelerate the digital transformation of the industry. The development of the digital economy contributes new financial power.