On Network Financial Status and Development Strategy

Abstract

Since the advent of the Internet, network economic revolution is across the world. Liquidation, network online securities, currencies, network insurance online, Internet banking, and other forms of new financial severely impact the traditional financial concept and form. Network financial era has arrived. In the new economic environment, network financial industry must pay attention to the development of network finance, and should establish corresponding development strategy in accordance with the specific circumstances. Based on the viewpoint of network financial background, this paper analyzes current status of network finance and puts forward the corresponding development strategy aiming at the existing problems. Network Financial Overview A. Current status of network financial development of our country In 1970s, financial electronic was implemented in our country, which laid a solid foundation to carry out network financial. After nearly 40 years development, now the operational framework and basic technics for network financial have formed. a. The basic framework scale of financial data communication network has been initially formed Wide application of electronic data interchange technology is the biggest characteristic of network finance, and financial data communication network is the basic framework of the entire network financial. In 1991, People's Bank of China operated Financial Satellite Communication Network. To the present, it has covered all parts of the country economy and the vast majority of developed counties, up to now it have become China's largest satellite data communication network. At the same time, China telecom and financial institutions worked together and established in 1996 Zhongyuan Financial Data Communication Network Co., LTD. The company's duty is to construct China's financial data ground communication backbone network. The built two backbone networks lay a solid foundation for development and construction of China's financial network.