Brief Introduction

This book studies the evolution of Chinese and foreign financial organization, straightens up the evolution and reduces to the character of change and non-change, with historical and economic method, under the perspective of long-term and Chinese-foreign comparison, and based on the analysis frame of market-technology-organization. Through following the clue of the externality implied in the boundary alternating of market and organization during the evolution, this book concludes the commonness and difference in the evolution process. Since the financial“gene”, implied in the evolution, derived from other industries, it has never changed, but its form is similar between China and western countries at its beginning, differential at latter-day, the developing difference nowadays do not mean the internet financing advantage that China and other developing countries and regions has owned compared to developed countries. The risen internet finance, mainly in China and other developing countries, itself is the product of financial organizations' limited service ability, and the product of imbalance between supply and demand caused by financial market's inadequate specialization, so it has the function to remedy financial market's inadequate specialization, to promote financial free competition, and to defuse financing difficulties. However those developed countries' financial markets are highly specialized, financial organizations' supplies have almost covered all various levels' demands, the application of Internet and other IT is to improve financial organizations' efficiency, to reduce trading costs and solve the problem of financing high costs. The imbalance of two regions may lay the foundation of future convergence and even surpassing.

This book is divided into four parts.

The first part is the preface of the book, focusing on its origin, the reasons why thousands of years of financial organization changes are divided into three periods, and the problems and related concepts which need to pay special attention to in subsequent analysis.

The second part is the focus of the book. First, it discusses the analytical framework of the book, and thus conclude the analysis paradigm of“market-technology-organization”. Second, by teasing apart the change process of the three periods in China and other countries, i. e. the period of traditional financial organizations, the period of modern financial organizations and that of internet finance, according to the order of history, it clarifies the reasons, impetus, process and other aspects of the changes of Chinese and foreign financial organizations.

The third part is theoretical summarization of this book. It shows that there are similarities between Chinese and foreign financial organizations in the change process; they also appear differentiated because of the restrictions by domestic and international factors. Meanwhile, in the change process of financial organizations, the characters of financial risks and the credit hidden in finance have never changed, but the forms of the financial organizations are constantly changing to reduce all kinds of transaction expenses of financial exchange value across time and space, and to raise efficiency of financial services. The similarities and differentiation indicates that the financial genes hidden in financial organizations has no changes over the past thousands of years; changes just exist in the manifestation, realization channels and tools and other external modes around the financial gene.

The forth part is the conclusion of the book. In this part, it indicates that the internet finance will change the modern financial organizations in form, but in the terms of the nature of finance, internet finance doesn't have subversive influence. In addition, the change trends of financial organizations will constantly innovate and integrate in the“Pareto improvement”between financial internet and internet finance.