(Correspondent Shiyi Xiao) On April 6, 2022, the second Frontier Forum Digital Technology and Finance, jointly sponsored by the Innovation and Talent Base for Digital Technology and Finance, the School of Finance, and the Collaborative Faculties, was successfully held online. The forum invited Professor Le'an Yu, academician of the International Academy for Systems and Cybernetic Sciences, professor and doctoral supervisor of Beijing University of Chemical Technology, to give a lecture on the theme of "Big Data Technology and Financial Technology". More than 500 teachers and students attended the forum, including Professor Zhisheng Li, President Assistant of Zhongnan University of Economics and Law and Director of the Base; Professor Minggui Yu, Dean of the School of Finance and Co-Director of the Base; Professor Yongbin Lv, Vice Dean of the School of Finance and Deputy Director of the Base; Professor Caihong Chen and Associate Professor Xianming Sun, Executive Deputy Director of the Base.

Fintech is a hot topic at the moment. Professor Le'an Yu started from the real economic crisis and told the audience about the rise of the virtual economy as well as the development process of Internet technology to fintech. Through the introduction of the financial products and fintech business layout of Alibaba, Tencent, Baidu, Ping An Group, and JD.com, Professor Yu elaborated on the rise of the fintech market and the diversity of its origins.

Subsequently, Professor Yu analyzed the cross-border Alibaba. He introduced a strategic map of Alibaba, which has kept information flow, capital flow, and logistics as the core. He contended that tackling business with IT is one of the significant reasons for the success of Alibaba. Through the analysis of Alibaba's case, new opportunities for the integration of real and virtual economies are all revealed.

Professor Yu stated that the acceleration of personal virtualization and the need for operational efficiency are the main reasons for the emergence of fintech. At the same time, the infrastructure changes led by the era of big data have also had an impact on all walks of life, and transformation to regard data as an asset, vertical integration of the industry, and pan-Internet have become new features. In addition, Professor Yu also made a brief introduction to the business pattern rise after big data technology. He analyzed the opportunities and challenges we face in the big data era in the financial industry. Big data technology can not only create online standardized service platforms but also contribute to the development of online and offline personalized and customized service systems.

Finally, Professor Yu expressed his concerns about financial education in the context of fintech. He believed that the introduction of Internet and the theoretical and empirical discussion of big data technology should be strengthened. He contended to practice while learning. The audience and Professor Yu then had in-depth and detailed discussions on issues related to fintech. Through Professor Yu's explanation, the participants had a comprehensive understanding of the rise and development of fintech, and how big data enables fintech transformations.

Speaker Introduction

Le'an Yu, the academician of the International Academy for Systems and Cybernetic Sciences (IASCYS), winner of the National Science Fund for Distinguished Young Scholars, winner of the first "Ten Thousand Talents Program" of the Organization Department of the Central Committee, and the "Hundred Talents Program" of the Chinese Academy of Sciences, is now a professor and doctoral supervisor of Beijing University of Chemical Technology. He has successively won the Elsevier China Highly Cited Scholar, the China Youth Science and Technology Award, the first prize of the Natural Science Award of the Ministry of Education, and the first prize of the Beijing Science and Technology Award. His main research areas are business intelligence, big data mining, economic forecasting, and financial management.

Frontier Forum for Digital Technology and Finance

Recent years have witnessed a dramatic acceleration in a digital revolution in economic sectors and a rapid adoption of the new generation of information technologies, such as artificial intelligence, blockchain, cloud computing, big data, etc. These technologies effectively set off the digital economy. It has become a key driving force in creating global economic growth, improving the modernization level of governance capabilities, and promoting high-quality economic development in China. In particular, digital finance is the most important part of the digital economy. To explore the development direction of the cross-integration of digital technology and finance, the Innovation and Talent Base for Digital Technology and Finance is hosting the “Frontier Forum for Digital Technology and Finance”, in collaboration with the School of Finance, Wenlan School of Business, Economics School, School of Information and Safety Engineering, School of Statistics and Mathematics, School of Public Finance and Taxation of Zhongnan University of Economics and Law (ZUEL). This lecture series will invite the well-known scholars at home and abroad in digital technology, digital economy, digital finance, and other related fields as guest speakers, providing an open and cutting-edge academic exchange platform for interdisciplinary research on digital technology and finance.