In the hotel.
When Li Dong arrived, Ma Yun and the others were ready to go downstairs for lunch.
Seeing that Li Dong had arrived, Ma Yun smiled and looked at him. After a while, he said, "You're quite early. I thought you would only be here in the afternoon. It seems that it's good to be young."
"What are you talking about? Just say it. I've been so busy these past few days. I have something to do in the afternoon. Hurry up. "
"What's the hurry?"
Ma Yun laughed, then turned to look at the others. "Then let's eat and talk. Let's settle things before Li Dapao falls into the land of gentleness."
Ma Yun was not alone. There were several people following behind him.
Hearing Ma Yun's words, everyone laughed.
Li Dong did not care. As he walked, he said, "What's the matter? We're opponents now. Why would you come to me? "
"It seems that you've really slacked off recently."
Ma Yun sighed and shook his head. "Have you really fallen into the land of gentleness recently?
The government has recently introduced a lot of new policies, almost all of which involve Internet finance and Internet payment services.
There's good news and bad news.
In the big picture, the government supports the germination of new industries. But in the details, safety comes first and risk is reduced.
In short, it can be promoted, but strict control measures must be implemented.
The reason I came to you this time is to discuss this matter with you.
You're the number one person in Internet finance. You were the first to propose this concept.
Now, you've only pushed it halfway, and you've run away. All of us are now in a dilemma.
I heard that Yu 'e Bao is being restricted not passively, but actively.
Li Dong, tell us the truth. What are you thinking?
Now, everyone is watching Wan Tong's actions. Wan Tong is one of the vanguards. Once Wan Tong retreats, it will have a great impact on the entire industry.
Speaking of which, you retreated too quickly this time. We just got on the horse, and even you, Li Dong, retreated. How do you expect us to continue?
The Central Bank, the CBRC, and some regulatory agencies have recently introduced a lot of policies.
Including the issue of reserves! "
Speaking up to this point, Ma Yun slightly frowned and said, "According to the new policies of the few companies, in the future, the reserves of non-financial payment institutions must be set up specific reserve accounts in commercial banks.
These accounts were not opened in the name of our company, nor in the name of an individual, nor in the name of a client.
Instead, it was a unified plan!
In other words, in the future, these reserves will have nothing to do with us. We can't interfere and can only hand them over to the government.
Also, even the invoices that we issue are no longer related to reserves, but to the amount of services.
This is actually a form of narrowing the scope of our authority and supervision … "
Li Dong said calmly, "It's normal."
"Normal?"
Ma Yun frowned and said, "You think it's normal, but I think it's abnormal! Pay for the permits, we got them all. I thought that getting the payment license meant that we were accepted by the financial institutions. In fact, we're all non-financial institutions now. A non-financial institution's management method has basically sealed off our path. "
"Then what do you want to do?"
Li Dong asked, "With the arrival of the mobile Internet era, online payment has become a norm.
At this time, it's no longer a separate online shopping market.
In the past, the funds involved in payment institutions like us were at most a hundred billion a year.
But now?
Now, just in the first quarter, the inflow and outflow of funds from Wan Tong is terrifying.
In the first quarter, the total inflow of funds from Wan Tong from various channels exceeded 400 billion!
This market is still continuing to expand. There will only be more in the second quarter, and more and more in the future.
In the whole year, the inflow of funds from Wan Tong may exceed two trillion!
Old Ma, think about it yourself. Will the government not supervise such a large flow of funds?
There's actually not much we can do now … "
Ma Yun shook his head and said, "You're wrong. We can do a lot!
Some things, if you don't fight for it, then others won't give it to you. On the contrary, if they think that you don't need it, then they won't give it to you.
Just like before, we were able to get the payment license because we fought for it again and again.
If we don't fight for it, then let alone last year, this year, or even next year, we won't be able to get it!
This is the difference between working hard and not working hard. If you resign yourself to adversity and support any policy, then sooner or later you will be trapped in a small circle and eventually die or decline.
And this is not what we want to see.
We may not be able to reverse the situation, but at least we have to make some moves to let others see that we also hope that this industry can become better. We can also achieve perfect regulation and the strongest risk control measures! "
"Tell me directly, what do you want me to do?"
Li Dong went straight to the point. He wanted to see what Ma Yun had to say.
Ma Yun smiled and said, "Eat first. We'll talk later."
"I'm not hungry. I just ate. Just tell me your purpose, lest I can't even eat later."
Ma Yun turned his head to look at him. After a while, he said, "It's simple. The purpose of everyone coming with me is actually beneficial to you.
At present, we have reached a preliminary agreement.
First, like in the past, we will unite again and make a voice that belongs to us.
Third-party payment institutions should not be included in the non-financial system, especially after the payment license is issued. We are also a regular army and no longer unorthodox!
Since the government has approved it and issued us a formal license, it means that they have recognized us.
There is no reason to double label us and define us as non-financial institutions at the critical moment.
Internet finance is also a financial industry!
Second, apply for more financial industry licenses, including private banks and small loan licenses.
There is no reason for funds to flow through our hands and ultimately benefit others.
Internet finance industry needs to be perfected. A single payment and monetary fund is not enough to support a new industry and industry … "
"Oh …"
Li Dong said perfunctorily with insufficient sincerity. Ma Yun frowned and said, "You have a different opinion?"
Li Dong smiled and said, "No, but I will not participate."
"Why!"
Not only Ma Yun, but the other payment institutions' CEOs were also anxious.
If Li Dong did not participate, how could they continue to play?!
Li Dong pursed his lips and said somewhat speechlessly, "I thought it was something big. Is that it? What you said is for you, not me. Alright, I'll tell you the truth. I am now applying for a consumer finance license. Once the application is approved, all the problems will not be a problem. So, I am still a little different from everyone else. Why, seeing that I have not done anything, you think I have given up? "
Li Dong sneered. In the financial industry, there were still a few major licenses that must be obtained.
Especially in the new financial industry, licenses were fundamental.
First, third-party payment license. This was actually not difficult to obtain.
When the license was issued previously, many companies had obtained it.
Second, Internet fund and sales license.
This was also a new policy that had appeared not long ago. It was also because of the emergence of monetary funds like Yu 'e Bao that the Central Bank and the Securities Regulatory Commission had made adjustments.
At the same time, a third license was issued, Internet insurance license.
Far away could obtain these licenses, and so could Ali.
As for the remaining few licenses, it was more difficult.
The private bank license, Internet micro-loan license that Ma Yun mentioned …
At present, they had not been released yet. There was only this intention. The government said that it would be issued. Ma Yun's intention was obviously to continue to urge the government to quickly introduce these policies, just like before.
Once they had these licenses, it would be much easier. Some of the current restrictions and violations would no longer be a problem.
Especially the micro-loan license. Ma Yun had said a long time ago to support small and medium-sized enterprises.
How to support them?
Of course, loans!
However, without a micro-loan license, loans were against the rules, especially between businesses.
But with a license, not only was it compliant, but it could also use leverage.
In other words, once they obtained a micro-loan license, they could use not only their own money, but also some reserves.
Of course, there were also limits to the leverage.
The one that could really achieve high leverage with very few restrictions was actually a consumer finance license.
A consumer finance license represented a lot of things.
This was a new policy introduced by the government in 2008 to stimulate consumption during the economic crisis.
Consumer finance included automobile consumption, education consumption, renovation consumption, travel consumption …
In short, other than housing loans, as long as you obtained this license, you could do all other consumer loans and not be limited to a certain field.
The micro-loan license that Ma Yun mentioned was actually very restrictive, including the amount of money.
But a consumer finance license covered many fields, and the conditions to obtain a consumer finance license were higher than all the other licenses.
Once Li Dong's application was successful, then Wan Tong could do a lot of business.
It would no longer be illegal operations in the early stages. Instead, it would be a proper online bank. These were all compliant.
Of course, the requirements to apply for a consumer finance license were also very high.
Otherwise, Li Dong would not have said that he was different from others.
What were the requirements?
First, as a financial institution, the total assets at the end of the year must not be less than 60 billion. Second, the revenue of non-financial institutions must not be less than 30 billion.
What concept was this?
The concept was that the previous three companies, Alibaba, Alibaba, Alibaba, and Alibaba, combined, had less than 30 billion in annual revenue.
How to apply?
Especially when Ali had spun off Alipay. If Ali was not the sponsor but Alipay alone, how could Alipay have annual revenue of 30 billion?
Revenue was the actual performance of the company, not the cash flow. This was different.
Therefore, the current domestic Internet companies, including Internet payment institutions, did not meet the requirements, and the gap was very big!
Unless they did not use themselves as the sponsor, but then there would be another problem, the problem of the shareholders!
Far away did not have these restrictions.
Wan Tong could use Far away Holdings as the sponsor. Far away Holdings, which was the current Far away Group, had revenue and assets that exceeded the requirements.
Far away's application was very likely to be approved. The only drawback was that Wan Tong had not been established for a long time, and it could not produce a perfect financial report.
Of course, these were not big problems. It was much simpler than not meeting the requirements.
Far away was currently applying. Once it was approved, Far Away could officially lend.
With these licenses, especially the consumer finance license, there were many things that could be done.
A normal small loan license could at most support two to three times the leverage.
Your capital was 100 million, and you could only lend 200 to 300 million at most. That was very risky.
However, consumer finance did not have a long cycle, and the leverage was also high. Generally, it could support five to ten times the leverage.
If you had 100 million capital, you could even lend 1 billion.
Of course, this required a lot of risk, but in fact, the risk was much lower than small loans.
Far away, once Li Dong obtained the consumer finance license, he could treat himself as a bank. A commercial bank, and not a private bank with many restrictions.
When he said this, everyone's expression turned ugly. Ma Yun was even cursing in his heart. Bullying!
He had forgotten about this. Now that he thought about it, Far Away did not need to fight for those policies and conditions like them. They had capital behind them!
No wonder Li Dong was not in a hurry. No wonder Li Dong was so relaxed.
Ma Yun was still wondering if this guy had forgotten about this. So, he was waiting here!
Since Li Dong had mentioned it, it meant that there was a high chance of getting the license. If not, he would not have said it now.
Just as Ma Yun and the rest were thinking, Li Dong smiled and said, "As for me, I will go first. But don't be discouraged.
I will not monopolize the internet financial market, and I don't have such a big appetite.
Actually, I am not the only one who can get it. Many industrial companies can do it too.
But they do not know how to do it, and they do not dare to do it.
It's fine. I will wait for professionals like you to snatch my job.
As long as you meet the requirements, you can also apply. When the time comes, we will snatch the bank's business together and let them restrict us every day.
In the future, other than not being able to do mortgages, we will be no different from banks.
Moreover, internet banking is in line with the current trend. I believe that this market is still very big, maybe even bigger than the physical bank market.
Of course, you can use other licenses. In fact, it is not much different … "
Although he said so, the others were about to curse.
He was provoking them again!
Could other licenses be the same as consumer finance licenses?
The scope was different!
Ma Yun recovered at this time and stared at Li Dong. "So, you have been fooling us from the beginning?"
Li Dong said in surprise, "What fooling?"
"You should have made up your mind before. In the end, you have an attitude like Yu 'e Bao is about to die …"
"Yu 'e Bao has nothing to do with this. The two are not one. One is a currency fund, and the other is a consumer loan. It is unrelated. Why are you saying it?"
"You …"
Ma Yun was angry. It sounded like it was unrelated, but in reality, was it really unrelated?
Ma Yun dared to guarantee that once Wankaton started to do consumer finance loans, the user's money would only be deposited in Yu 'e Bao. In the future, he was afraid that his spending would only be at Far Away Mall.
After all, the money borrowed from Wankaton would not be used to go shopping at Taobao.
Moreover, Li Dong must also have a plan and restrictions.
Sure enough, Li Dong smiled again. "I thought about it. Since the government wants to see us do a good job in supervision and risk control, then we must do it well! Therefore, Far Away may launch our credit rating system in the near future. I really hope that everyone will join in. After all, Far Away is difficult to collect all the data. If we all join in, then we can control all the business data related to internet finance today. In the future, in the industrial system Far Away, we can check consumption, loans, and deposits. We can all establish a personal credit system. In this way, it will be much easier to do, and risk control will be much easier … "
As soon as this was said, the others were still fine, but Ma Yun's face changed.
Once Li Dong's credit system was released, coupled with the distribution of consumer finance licenses, in the future, all shopping or spending Far Away, or other things, would be included in the credit system and be rated.
Some users, considering that they might need loans in the future, would probably choose Far Away products first.
After all, when shopping at Taobao, the money spent would not be of much use. They could not even get a loan. What a waste.
Although not everyone needed a loan, just like not everyone needed a credit card, in this society, there were too many people who needed these!
If no one really needed it, there would not be so much banking business every year.
Ma Yun took a deep breath and looked at Li Dong. "Now that you said this, do you want to say that you will win?"
Li Dong said with an innocent face, "I didn't do anything to you, did I?
You dragged me here to talk about this, didn't I explain the situation to you?
Moreover, this was originally our plan. I have said it many times before, especially the establishment of the credit system. I have said it a long time ago.
It was just that due to some reasons, we did not manage to do it in time.
Now that I have said this to you, you actually think that I am provoking you?
Old Ma, when can you change your pettiness?
Moreover, Ali is also online, what's the big deal?
Isn't it just that the big data industry has not been set up, and the data processing is troublesome?
Isn't it just that the industrial chain is scarce, and the credit system is not easy to do?
Isn't it just that we did not get the consumer finance license and cannot do some business?
Isn't it just that we do not have the money, and the scale is not big?
So what?
Everyone works step by step, and no one starts out as a giant, right?
Old Ma, be confident. I believe in you. You can definitely surpass me, I believe in you! "
"Get lost!"
Ma Yun was really angry this time. One wrong step, and every step was wrong.
He had only wanted to drag Li Dong along and use Li Dong's power to let everyone benefit, especially Ali.
Ma Yun had dragged others along with him to force him to step down.
Everyone wanted him to step up, and if he did not, he would have offended everyone in the industry.
But in the end, Li Dong had rejected him. It was not because he did not want to do it, but because he had already done it and was now opening up a path for everyone.
At this time, what else could he say?
After being ridiculed by Li Dong again, other than scolding himself for being stupid and actually coming to look for Li Dong, Ma Yun really had nothing to say!
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