Phoenix Finance invited by CNBC to Discuss Fintech Development in China


GUANGZHOU, China, Dec. 6, 2018 /PRNewswire/ — Vince Zhang President of Phoenix Finance (the company), the one-stop-shop intelligent investment platform at the forefront of the financial products and services industry, was a guest on CNBC’s influential news and talk program Squawk Box during the network’s East Tech West forum in Guangzhou, China. During the show, Zhang talked about current developments and prospects of the country’s emergent fintech industry, as well as the company’s role as a leading intelligent fin-tech platform.

President of Phoenix Finance Vince Zhang was interviewed by Financial Times correspondent Louise Lucas during a "fireside chat".
President of Phoenix Finance Vince Zhang was interviewed by Financial Times correspondent Louise Lucas during a "fireside chat".

CNBC’s three-day Forum brought together leaders at the cutting edge of the technology industry and top investors from across the globe. At the event, Vince Zhang was interviewed by Financial Times correspondent Louise Lucas during a "fireside chat", where he painted a rosy picture of the future of China’s fintech industry.

During the interview, Vince Zhang said: "The country’s relatively backward financial infrastructure – such as an immature credit system – allows technology to play a bigger role, and offers companies greater freedom to fuel innovation in areas including payments, wealth management and insurance."

"In addition, regulatory policies have been constantly improved with the development of the industry, providing strong guidance and guarantee for the healthy and orderly development of the industry. As the industry develops, more consumer protection, risk control and compliance measures will be introduced. Which means it is time for the industry to regain its confidence and march ahead."

Phoenix Finance, founded by influential media group Phoenix Satellite Television, is adopting a strategy that accelerates the introduction of cutting-edge technologies in AI, big data and blockchain industries to bring comprehensive solutions and more intelligent wealth management products to investors.

In recent years China has stood out in the global arena as a key driver of innovation in the fintech space, joining the United States and Europe in an increasingly intertwined global exchange of ideas and technology.

As a part of its intelligent finance strategy, Phoenix Finance has developed a broad range of intelligent products aimed at helping clients make more scientific, rational and rewarding investment decisions. These products include:

  • Fengming Intelligent Analysis Engine that helps clients decipher correlations between information and the value of financial products.
  • Zhenzhun Asset Allocation a tool that generates tailor-made asset-management schemes for clients based on their profile and family financial situation.
  • Magic Mirror, an intelligent investment fund software, helping fund investors make real-time adjustments to their portfolios to maximise returns and minimize risk.
  • "Phoenix Intellinsur," a family AI insurance advisor that uses data collection to generate insurance allocation schemes based on user profiles to provide free, neutral, comprehensive and personalized third-party smart insurance services for families in China.

Another aspect of Phoenix Finance’s strategy is global development. With a global vision, a wealth of fintech experience and diversified business lines, Phoenix Finance offers a range of comprehensive solutions serving Chinese clients in multiple regions. In the United States, the company operates through local partnerships and stringent credit risk assessment models and is licensed to offer U.S. mortgage-backed securities products as a licensed Securities and Exchange Commission (SEC), Registered Investment Advisor (RIA).

In addition to the United States, Phoenix Finance’ overseas businesses also include consumer lending in Southeast Asia. In January, Phoenix Finance entered the European market via a strategic partnership with Saxo Bank, a milestone deal that will bring richer global assets and product range to overseas Chinese customers.

"Technology has changed finance and will create more possibilities in the future," said Vince Zhang.

About Phoenix Finance

Founded by Phoenix Satellite Television Holdings Limited, Phoenix Finance is a one-stop-shop investment platform that provides Chinese investors around the world with top-notch financial products and services. Partnering with top-tier global financial institutions to source desirable investable assets and attaching great importance to the application of big data, artificial intelligence and blockchain, Phoenix Finance provides a broad range of wealth management products and customized advisory services tailored to the needs of each investor. Phoenix Finance’s product offerings include P2P, mutual funds, insurances, global investment, wealth management and more. Having accumulated 8.75 million registered users, Phoenix Finance is now a leading fintech platform in China.

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