Fan Conglai: Open Banking: the Booster of the Financial Integration of the Yangtze River Delta

Release time:2020-01-17Author: Fan Conglai

Fan Conglai: Open Banking: the Booster of the Financial Integration of the Yangtze River Delta Finance plays an important role in promoting the allocation of resources in modern economic development. Financial integration is a key component of regional integration of the Yangtze River Delta and also one of the core driving forces for improving the degree of regional integration in the Yangtze River Delta. Banking financial institutions have become an important carrier in the process of promoting financial integration. We believe that the development of open banking has the foundation to support the financial integration of the Yangtze River Delta and can become an effective booster. The key is how to enable science and technology to establish an open banking system.As for the establishment of an open banking system, we put forward the following suggestions: (1) We should integrate open banking and finance; (2) We should strengthen the top-level design of open banking; (3) We should establish the data base of open banking; (4) We should build an open banking ecosystem; (5) The development of financial integration of the Yangtze River Delta is not the same as the development of homogenization. We should build a regional collaborative ecosystem based on the advantages of local characteristics, which should fully reflect their regional characteristics;(6) We should build a new system of supervision over open banking.