On august 26th, the people's bank, the bank's insurance board, the cvm and the national networked office held a press conference on the 2022 “month of financial knowledge financial knowledge” campaign to be a rational investor and a good financial internet user. The launch was attended by wang guang jian, director of the financial consumer protection board of the people's bank of china; wang yi, director of the consumer rights protection board of the china banking insurance supervisory board; lin lixia, deputy director of the investor protection board of the china securities regulatory commission; and shi sheng, deputy director of the network social work bureau of the national network of letters and offices. The press conference was chaired by royen mae, deputy director of the office of the people's bank。
Activities include a six-pronged focus
The main themes of the event, which was aimed at financial consumers and investors, were the promotion of basic financial knowledge and financial risk prevention skills, the in-depth development of risk tips and the prevention of illegal financial activities. Promoting scientific finance and rational borrowing by financial consumers and investors, promoting healthy societies and mutual enrichment. To channel the self-conscious resistance of financial consumers and investors to online financial rumours and negative financial energy, and to create a common space in which people can better share the fruits of financial reform and meet their needs for a better life。
The activities included six areas: first, focusing on raising financial literacy and promoting financial literacy for the productive lives of financial consumers. The second is to promote scientific finance and rational borrowing to help financial consumers keep the “money bag”. Thirdly, focusing on key populations, financial literacy, hot spots, bridging the digital divide, etc., brings educational activities closer to society's public needs and promotes healthy financial development. Fourth is the provision of professional, accessible investor education services to protect the legitimate interests of investors. The fifth is to fight for good financial internet users and build a good spiritual home for the network. Sixth is the strengthening of financial risk alerts to identify and move away from illegal financial activities。
The event will focus on online financial literacy, planning for the introduction of integrated media products such as graphics, short videos and h5 animations, and promoting internet finance, financial literacy, cyber security awareness, risk awareness and cyber protection skills. Increased awareness of the rules and the spirit of contract among the online community, using case studies, situational onlines and typical publicity, and creating an online public opinion climate that benefits from credibility and is priceless. Targeted financial literacy training is provided to key groups such as the elderly and the disabled, and financial institutions, internet enterprises and others are encouraged to promote the aging and accessibility of the app and to continuously increase the sense of access and well-being of the internet。
Improving financial literacy
Wang yi indicated that the board would highlight four “focuss” to improve financial literacy. Focusing on the focus groups, financial literacy education is organized at the “old and old” and new citizen levels to bridge the financial literacy gap for financial consumers. Focusing on financial literacy, education and awareness-raising on consumer credit, personal information protection, digital financial services, banking for breaking down the boom and high-frequency issues related to daily life, to enhance the ability of financial consumers to defend their legitimate rights and interests. Focused on hot spots, increasing risk alerts for violations of financial consumer rights and financial stability, such as illegal storage, financial fraud in the pension sector, telecommunications fraud, illegal agency advocacy, etc. Focusing on bridging the digital divide, continuing to increase financial literacy in the area of old age and older persons, promoting equity in consumption and effectively addressing the difficulties faced by special groups such as older persons and persons with disabilities in using smart technologies in the financial sector。
It was described that the bank's superintendence of insurance continued to provide a channel for the popular voice and to strengthen the management of the 12,378 bank insurance consumer complaints hotline. In the first half of this year, 1. 2 million calls were received from consumers, an increase of 13. 82 per cent over the same period, a rate of 90. 79 per cent and a population satisfaction rate of 99. 22 per cent。
Risk alerts are one of the key players in the bank's work on consumer education and protection. Wang zi stated that the board had issued risk tips for inducing over-indebtedness, talking about financial products, financial fraud through home-based pension, illegal fund-raising, internet-based insecurity, illegal agency withdrawal, personal information protection, etc. At the same time, the superintendence of banking insurance also defines the main responsibility of banking insurance institutions and directs them to carry out various forms of risk alerts for businesses and products that are prone to financial disputes and misperceptions among consumers. The institutions are constantly alerting consumers to the need for active advocacy by sharing real cases, answering operational suspicions, and disseminating information on fraud and fraud, so as to use financial resources to resolve social distress and strengthen the financial risk prevention capabilities of the population。
Promoting investment in values and rational investment
“personal investors in our capital markets have exceeded 200 million, of whom more than 90 per cent are small and medium-sized investors with a market value of less than 500,000 yuan, protecting their legitimate rights and interests and serving the growing wealth management and economic and social development needs of the population, which are the responsibility of the regulatory authorities.” in her view, under the system of registration, investors ' investment channels and options are more abundant, requiring greater professional investment capacity and risk identification, greater attention to the future long-term development of enterprises, value judgements and investment choices based on information disclosed by listed companies, and greater emphasis on value investments, rational investments and long-term investments。
She also reminds investors that, in the context of normalization and de-marketing, it is more important to maintain a value-based investment philosophy, to focus on risk alerts, to be free from speculations such as “scrambling” and “scrambling” and to actively seek redress in cases where investors have suffered losses as a result of violations of the relevant securities。
At present, how should investors choose between the variety of financial management courses in the market, the number of investment courses and the multiplicity of them? It is understood that, in response to the growing and diverse demand for educational services from a wide range of investors, the cvm has built a network of chinese investors, that the cvm system units, such as securities futures exchanges, trade associations and others, have long been engaged in pro bono investor education, and that cvm and police agencies have licensed 198 entities and internet investor education bases throughout the country, which can be consulted through the cvm. These subjects provide professional, authoritative, normative and pro bono educational services to investors under the guidance of the sec. Institutions such as the people's bank and the bank's superintendence have also directed industry institutions to develop a large amount of high-quality and regulated financial investment education resources for investors ' choice。
“at the same time, we note that a number of institutions and individuals in the market offer well-defined courses in financial education, some of which are subject to errors in content, inducing consumption, suggestions for specific investment analyses, and are suspected of engaging in advisory activities on illegal securities futures, and some investors have been misled or caused economic loss as a result of purchasing such courses.” rin lixia alerts a wide range of investors to carefully choose the standard investor's educational products, to defend their legitimate interests when economic disputes arise, and to resolve disputes through judicial means where necessary。
Stay away from illegal financial activities
“with regard to the identification of the authenticity of financial products, we have summed up a set of financial fraud-proof tips for financial consumers, called `one look at the other'.” the rest of the text suggests that “one look at the other” is to see whether the return on money and interest on deposits is reasonable. The secretary of the people's bank party and chairman of the bank's banking supervisory board, guo xiaoqing, has reminded a wide range of financial consumers and investors that high returns mean high risk, with a return of more than 6 per cent calling questions, more than 8 per cent dangerous, and more than 10 per cent preparing to lose the entire principal. The second question is whether formal financial institutions or financial regulators should be asked when financial doubts arise. The “third check” is to check whether financial institutions have a licence to operate, whether financial products are in compliance and whether financial advertising is illegal. “four do not” means not trusting unknown information, not disclosing personal information at will, not opening undisclosed web links, and not transferring money easily。
With regard to the means of searching for financial products, it is suggested that the network is now very well developed and that there are a number of easy channels for accessing financial products online. For example, access to bank property information is available through the china finance network, to basic information on various fund management agencies and products through the electronic information disclosure platform of the china securities commission's capital market, the china securities and investment fund industry information post, and to relevant insurance products through the china bank insurance supervisors network or the china insurance industry association network。
It also reminds financial consumers that financial fraud is a criminal offence and that victims should immediately report it to the public security authorities, keep copies of their reports and seek timely assistance from relevant financial institutions in freezing accounts. “in short, you must shine your eyes and not blindly believe in the myth of high returns and overnight prosperity, bearing in mind the need to choose formal channels and products and to stay away from illegal financial activities.”
