Author(s)

Youfang Jin

Corresponding Author

Youfang Jin

ABSTRACT

Innovativeness, complexity and high-tech attributes of financial technology (FinTech) have undoubtedly and significantly increased the complexity of the financial system and the difficulty of financial risk prevention. This has not only posed a huge challenge to the traditional financial supervision, but also set different fields thinking about the adaptability of the traditional financial supervision system and mechanism. Currently, to strengthen the FinTech supervision via a radical reform of the financial supervision system is unrealistic. At the core of efforts to improve the FinTech supervision system is to transform the FinTech supervision functions and modes, clarify the supervision relationship between the central government and the local governments, and build a multi-party FinTech co-supervision system. This paper starts with analyzing the current status of FinTech supervision rules and challenges facing FinTech supervision. Then, the practical situations of FinTech supervision are combined to propose suggestions for improvement of FinTech supervision coordination rules at an attempt to guarantee the rule of law for the in-depth integration between finance and technology.

KEYWORDS

FinTech, supervision coordination, technological supervision