On the afternoon of October 23, 2016, the 2016 International Forum on Innovation, Challenges, and Coordinated Supervision, a trend in financial development in the era of science and technology+, held its first session with the theme of "Theory and Practice of Internet Finance for Market Innovation, Development, and Risk Management", and its second session with the theme of "Internet Finance Development under New Regulations and Lessons Learned from International Supervision", and "Development Trends, Technology Frontiers, and Applications of Internet Finance".

The first branch meeting with the theme "Theory and Practice of Internet Finance for Market Innovation, Development, and Risk Management" is an academic session. Yang Dong, Vice President and Professor of the Law School of Renmin University of China, Zhang Xiaomei, Director and Associate Professor of the China Microfinance and Internet Finance Innovation Research Center, Jin Dehuan, Chief Expert and Professor of Capital Markets at the Shanghai International Finance Center Research Institute of Shanghai University of Finance and Economics, Zhang Haiyang, Director and Associate Professor of the Finance Department of the University of International Business and Economics, and Cui Yuanjian, Director of the Coordination Office of the Shanghai Financial Services Office, Cui Daiyuan, Distinguished Professor of Economics and International Consultant, School of Economics, Ocean University of China, Professor Sarah Delpchitra, School of Business, Sydney University of Technology, Australia, Director and Professor of Modern Payment and Internet Finance Research Center, Shanghai Lixin School of Accounting and Finance, Wang Mingtao, Professor of School of Finance, Shanghai University of Finance and Economics, Cao Zhiguang, Associate Professor of School of Finance, Shanghai University of Finance and Economics, Yu Li, Associate Professor of Shanghai Key Laboratory of Financial Information Technology Research, Zhou Guangyou, associate professor of the Financial Research Institute of Fudan University, He Fei, PhD in Finance from Nanjing University, Li Bingxin, graduate student in finance from Shanghai University of Finance and Economics, and Min Min, deputy director and postdoctoral fellow of the Financial Experimental Center of Shanghai University of Finance and Economics, attended the meeting and delivered a keynote speech. Zhang Xiaomei and Jin Dehuan presided over the first branch meeting.

The second session is an industry specific session. The theme of the first half is "The development of Internet finance under the new regulatory regulations and lessons learned from international regulation", and the theme of the second half is "The development trends, technological frontiers, and applications of Internet finance". Speakers included Li Lin, General Manager of the Strategic Development Department of the Head Office of Shanghai Pudong Development Bank, Xu Yaowu, Director of the Financial Innovation Division of the Shanghai Financial Services Office, Li Guoquan, Professor of Singapore Xinyue University, Han Feng, Tutor of Tsinghua University i-Center and Guest Researcher of the Shanghai International Financial Center Research Institute of Shanghai University of Finance and Economics, Liu Gongrun, Assistant General Manager of the China Financial Information Center, and Xie Xiangyang, Director and Senior Partner of Gaopeng (Shanghai) Law Firm, Xiao Sa, Deputy Director and Secretary General of the Internet Finance Professional Committee of Dacheng Law Firm, Gong Aling, Chinese partner and consultant to the Board of Directors of Wealth Migrate Group, Bi Zhigang, head of the Internet Finance Department of Guotai Jun'an Securities, Ge Dongdong, Vice President and Professor of the School of Information Management and Engineering of Shanghai University of Finance and Economics, Xu Xuefeng, Professor of the Shanghai Lixin School of Accounting and Finance, and Qin Peng, Director of the Internet Finance Professional Committee of the Shanghai Pudong Institute of International Finance, Chen Zhen, General Manager of wutong Wealth Management. The first and second half of the sub forum were presided over by Zhang Haihui, Secretary General of the Microfinance Fifty Forum, and Zhu Zhengyan, Deputy Secretary General of the Shanghai Pudong Institute of International Finance.

Xie Xiangyang, Director and Senior Partner of Gaopeng (Shanghai) Law Firm, delivered a speech on the topic "Innovative finance still needs to consolidate the cornerstone of legal regulation". Lawyer Xie Xiangyang said that from a global perspective, finance has never been deregulated, but the government's supervision of Internet finance lags behind technological progress, resulting in financial innovation that has led to the use of Internet finance by illegal elements. Therefore, it is proposed to strengthen supervision of Internet finance. In response to financial innovation, it is necessary to focus on the essence of contracts. The transaction entities include platform providers, investors, and underlying assets. The legal relationship includes the relationship between investors and the platform, as well as the relationship between the platform and underlying assets. The former requires the platform to have a media attribute and provide true, accurate, timely, and complete information. The latter requires verification and due diligence by the platform intermediary. The responsibility of the government is to implement regulatory work. In response, Lawyer Xie Xiangyang stated that first of all, regulation should penetrate, down to the underlying assets, which determine the magnitude of risk. Secondly, we need to adjust market access. Finally, regarding information disclosure, lawyer Xie Xiangyang stated that not only should the platform consciously disclose information, but also intermediary agencies should check to increase passive disclosure of information.

This article is translated by software translator for reference only.