On the morning of August 12, local time, Poly Network stated on social media that as of 8:18:29 on the same day, hackers had returned approximately US$342 million in assets.
Training objectives: This major cultivates professionals with theoretical knowledge and business skills in finance who can engage in related work in banking, securities, investment, insurance and other economic management departments and enterprises.
Main courses: Political Economics, Western Economics, Finance, International Economics, Monetary and Banking, International Financial Management, Securities Investment, Insurance, Commercial Banking Management, Central Banking, Investment Banking Theory and Practice, etc.
Employment direction: Judging from the employment situation in recent years, graduates majoring in finance are mainly employed in banks and the financial system. In addition to commercial banks, joint-stock commercial banks, and domestic branches of foreign-funded banks, there are several major destinations: the Central (People's) Bank, Banking Regulatory Commission, Securities Regulatory Commission, Insurance Regulatory Commission; securities companies (including fund management companies), trust investment companies, financial holding groups and other highly risky companies Financial companies; the Big Four accounting firms, the Big Four asset management companies, financial leasing, guarantee companies, etc.; insurance companies, insurance brokerage companies; social security fund management centers or social security bureaus; securities departments, finance departments, securities affairs representatives of listed (to be listed) joint-stock companies, etc.; government administrative agencies with the national civil servant sequence such as finance, auditing, customs departments, etc.
2. Accounting major
A total of 735 people think that the accounting major of Anhui University of Finance and Economics is good, with a recommended study index of 4.8
Full score 5.0
Professional introduction: Accounting is the language of business. You can understand the overall operating status of a company through its books and accounting knowledge. Usually accounting graduates will take the CPA qualification exam during or after graduation. The American CPA and the British ACCA are currently the largest international CPA associations in the world. Many graduates choose to take the qualification certificates of these two associations.
Accounting major graduates can be qualified to work as cashiers, accounting, tax declarations, internal audits, financial management, material management, tellers, account managers, etc. in various industrial enterprises, commodity circulation enterprises, service industries, financial and insurance institutions and other departments or units; they can also work in accounting firms, accounting agency companies, financial companies, accountant assistants, agency accounting, accounting consulting services and other positions.
3. International Economics and Trade Major
A total of 515 people think that the international economics and trade major of Anhui University of Finance and Economics is good, and the recommended study index is 4.5
Full score 5.0
Major Introduction: International Economics and Trade University major, students mainly study the basic theories and basic knowledge of Marxist economics, international economics, and international trade. They receive basic training in economics and management, have basic abilities in theoretical analysis and practical operations, and have strong foreign language abilities.
Employment direction: Graduates majoring in international economics and trade can engage in foreign trade management in the government's foreign trade economic management department, engage in foreign trade business and international market marketing in foreign trade enterprises, engage in trade economics, marketing, and operation management in state agencies, national economic comprehensive departments, commercial departments, foreign-related enterprises, joint ventures, large industrial and commercial trading companies or enterprises, and engage in teaching and scientific research in major colleges and universities and scientific research units.
4. Economics Major
A total of 440 people think that the economics major of Anhui University of Finance and Economics is good, and the recommended study index is 4.3
Full score 5.0
Major introduction: Economics is an independent discipline in modern times and is a science about the laws of economic development. Starting from the foundation laid by Adam Smith's "The Wealth of Nations" in 1776, modern economics has experienced more than 200 years of development. It has many professional directions such as macroeconomics, microeconomics, and political economics, and is applied in various vertical fields to guide the accumulation and creation of human wealth.
Employment direction: Economics graduates have a wide range of employment opportunities. They are suitable for engaging in policy analysis, teaching research, economic management, marketing, etc. in government agencies, financial institutions, colleges and universities, and large and medium-sized enterprises. They are also suitable for starting their own businesses. If you have relevant professional qualifications, your employment level will be relatively high. In addition, economics majors in prestigious universities have higher rates of advancement to graduate school and higher rates of studying abroad.
5. Finance Major
A total of 338 people think that the finance major of Anhui University of Finance and Economics is good, with a recommended study index of 4.3
Full score 5.0
Training objectives: This major cultivates senior professionals with theoretical knowledge and business skills in finance, taxation and other aspects, who can engage in related work in finance, taxation and other economic management departments and enterprises.
Main courses: political economy, Western economics, currency and banking, international economics, finance, national budget, tax management, international taxation, state-owned assets management, etc.
Employment direction: After graduation, students majoring in finance can work in tax planning, auditing, and asset management in the Finance Bureau and Taxation Bureau. Job positions for finance majors include financial manager, accountant, financial director, financial supervisor, accounting supervisor, financial accountant, chief accountant, cashier, chief accountant, financial department manager, general ledger accountant, finance, etc.
6.Financial Management Major
Training objectives: This major cultivates senior professionals in business administration disciplines who have knowledge and abilities in management, economics, law, financial management, and finance, and can engage in finance, financial management, teaching, and scientific research in industrial and commercial, financial enterprises, institutions, and government departments.
Main courses: management, microeconomics, macroeconomics, management information systems, statistics, accounting, financial management, marketing, economic law, intermediate financial management, advanced financial management, commercial bank operation management, etc.
Employment direction: After graduating from the financial management major, most people work in accounting professions, which generally require a lot of practical work to be applied. Nowadays, it is difficult for Chinese business owners to truly understand the role of financial management. They still focus on one hand and do not have a complete set of management to operate funds.
7.Financial Engineering Major
A total of 196 people think that the financial engineering major of Anhui University of Finance and Economics is good, and the recommended study index is 4.6
Full score 5.0
Main courses: Students majoring in financial engineering mainly learn basic theories and basic knowledge in economics, finance, financial engineering and financial management, and receive basic training in financial management, investment and financing, and risk management methods and skills.
Training objectives: High-quality, comprehensive modern financial talents who have the basic ability to design, develop and comprehensively use various financial tools to creatively solve financial practical problems, carry out financial risk management, corporate finance, investment strategic planning and financial product pricing research, and can engage in financial management, financial analysis and planning in multinational companies and financial institutions.
Employment direction: Most talents majoring in financial engineering are sent to major financial institutions, large enterprises and government departments to meet the needs of these enterprises and institutions for financial product design and development, investment and risk management. The workflow is roughly as follows: first, collect financial data and information extensively, then use relevant software to analyze the data, and finally draw conclusions and formulate an effective plan to avoid financial risks. Because they deal with money, their salaries will not be very low. It is said that the starting salary will be above 2,000. Of course, there are regional differences, but as experience increases, income will also increase.
8. Auditing major
A total of 146 people think that the auditing major of Anhui University of Finance and Economics is good, and the recommended study index is 4.7
Full score 5.0
Training objectives: To cultivate senior position technical talents who are oriented to the grassroots and front-line management, have a firm grasp of corresponding professional knowledge and skills, have solid accounting and auditing professional knowledge, are proficient in basic corporate accounting manual and computer operation skills, and auditing skills, and have a certain theoretical level of accounting and auditing, as well as strong hands-on ability.
Main courses: microeconomics, macroeconomics, management principles, management information systems, economic law, tax law, financial accounting, cost accounting, financial management, internal control audit, financial audit, management audit, construction project audit, computer audit, forensic accounting, etc.
Employment direction: Auditing major graduates can engage in internal audit work in large and medium-sized enterprises and multinational companies, engage in audit inspection and appraisal work in government audit agencies and judicial agencies, engage in audit services and consulting work in accounting firms, law firms, asset appraisal companies and other intermediary agencies, and can also engage in teaching and scientific research in schools and scientific research departments.
9. Statistics major
A total of 100 people think that the statistics major of Anhui University of Finance and Economics is good, and the recommended study index is 4.8
Full score 5.0
Major introduction: Statistics is mainly divided into two professional directions: general statistics and economic statistics. General statistics mainly studies the basic theories and methods of statistics; economic statistics is a science that provides scientific investigation and collection of economic information, as well as description and analysis of economic data and prediction and supervision of social and economic operation processes.
Main courses: mathematical analysis, geometric algebra, mathematical experiments, ordinary differential equations, complex variable functions, real variables and functionals, probability theory, mathematical statistics, sampling surveys, stochastic processes, multivariate statistics, basic computer applications, programming languages, data analysis and statistical software, regression analysis, reliability mathematics, experimental design and quality control, econometrics, economic forecasting and decision-making, financial mathematics, statistical analysis of securities investment, numerical analysis, data structures and algorithms, database management systems, computer network systems, system analysis and software design.
Employment direction: There are three main employment directions for graduates majoring in statistics: government departments (statistics bureau, etc.), financial departments such as banks, insurance companies, and securities companies, market research companies, consulting companies, market research departments of various companies, and quality inspection departments of industrial enterprises and other enterprises and institutions.
10. Law major
A total of 94 people think that the law major of Anhui University of Finance and Economics is good, and the recommended study index is 4.5
Full score 5.0
Training objectives: To train students to have good legal thinking, master basic legal theories and systematic legal professional knowledge; be familiar with my country's laws, regulations and relevant policies, have a sense of social responsibility and a spirit of responsibility; be able to independently analyze and solve practical legal problems; have strong written and oral expression skills; and master senior legal professionals with technical knowledge such as lawyer practice, judicial appraisal, forensic medicine, etc.
Employment direction: The traditional concept is that students who graduate from the law major will engage in careers with high social status and high income such as judges and prosecutors. Therefore, many parents and students prefer the law major. Many students who apply for the law major also hope to work as judges, prosecutors, university teachers and other jobs with higher social status after graduation. In fact, this kind of job has very high requirements on students’ academic background or academic level.
Reporters learned from the State Administration of Financial Supervision today (13th) that recently, some online malls have induced consumers to apply for loans in the name of shopping installments, recycling, etc., causing many consumer disputes. In order to effectively protect the legitimate rights and interests of consumers, the Financial Consumer Rights Complaints and Mediation Center of the State Financial Supervision and Administration Bureau, the China Consumers Association, and the China Internet Finance Association jointly issued a risk warning to remind consumers to be wary of induced payment and high financing cost traps, and to enhance their identification capabilities and risk prevention awareness.
The risk warning also analyzes several typical traps through specific cases.
Case 1
Mr. Lu was attracted by the "high limit", "low interest" and "quick loan" of an installment mall. Without any real shopping needs, he placed an order for a certain brand of mobile phone at the mall for 7,599 yuan and applied for the consumer installment business. The mall guides that there is no need to receive the goods, and they can be cashed out by directly recycling them. A mobile phone of the same model and specifications sells for 5,810 yuan on mainstream e-commerce platforms. After 12 installments, the total loan principal and interest is as high as 8,529 yuan, while the recycling price is only 5,130 yuan. Mr. Lu later suffered from frequent debt collection by the platform due to his inability to repay. While his normal life was seriously affected, his personal credit also faced overdue stains.
Enlightenment: Under this type of business model, consumers not only need to pay installment interest fees, but also bear the loss of recovery price difference. Consumers should make income and expenditure plans based on their own financial conditions, not be fooled by inductive propaganda, and refuse to participate in illegal activities such as "cash-out on shopping." When handling consumer installment business, you must fully understand and carefully calculate the relevant costs to avoid incurring high liabilities and unnecessary repayment pressure. If there is a real need, they should choose financial products and services from formal channels that match their consumption characteristics, repayment ability, etc. based on their actual situation and risk tolerance, and repay them in a timely manner as agreed to avoid overdue effects on personal credit.
Case 2
When Mr. Ma applied for installment business through a shopping mall platform, he discovered that he had to upgrade to a specific membership level to be eligible to apply. He did not carefully read the relevant service agreement and prompts, did not notice the clause "successful installment is not guaranteed", and opened the paid membership service with one click. In the end, Mr. Ma failed to borrow money or buy goods, but the monthly membership fee of nearly 300 yuan was still "deducted correctly." Although he communicated many times to request a refund, the mall refused to refund for reasons such as "I have checked to agree to the agreement," and "there will be no refund after activation."
Enlightenment: Be wary of inducing bundled charges. When handling payment services online, consumers should pay attention to guard against risks such as unknown deductions, forced bundling, and black-box deductions. Carefully read the service agreement and pop-up prompts, and fully understand key terms such as service scope, termination conditions, refund rules, and deduction cycles. Carefully click on shortcut buttons such as "One-click Agree" and "Express Processing" to avoid unknowingly checking additional services, activating paid items, or authorizing too many permissions.
Case three:
When Ms. Li inquired about installment business from a consumer platform, she directly provided her name, mobile phone number, ID card and other personal information without reaching a loan intention. Since then, Ms. Li has frequently received harassing calls from third-party marketing, and even received suspected fraud messages, which is unbearable.
Implications: Improve awareness of personal information protection. Regarding the practice of consumer platforms to collect personal data for matching with partner organizations, consumers should strengthen their awareness of information security and be cautious in providing personal information or authorizing the scope of information collection and use to avoid leakage or illegal use of personal information.
The risk warning reminds consumers that if they find that their legitimate rights and interests have been infringed upon during the process of applying for installment for shopping and consumption, they should pay attention to preserving relevant evidence such as bills, transaction vouchers, communication records, and reasonably safeguard their rights through legal and formal channels. Consumers can negotiate with operators in accordance with laws and regulations such as the Consumer Rights Protection Law of the People's Republic of China. If the negotiation fails, they can report it to the National Consumers Association Smart 315 platform or the China Internet Finance Association; if they find suspected violations of laws and regulations, they can complain and report to regulatory authorities and public security organs.
21st Century Business Herald reporter Hu Tianjiao comprehensively reported that after about US$610 million in assets were hacked at one time, the cross-chain DeFi (decentralized finance) platform Poly Network has received intermittently repayments from hackers.
On the morning of August 12, local time, Poly Network stated on social media that as of 8:18:29 on the same day, hackers had returned approximately US$342 million in assets, of which the amounts returned to Ethereum, Binance Smart Chain, and Polygon were US$04.6 million, US$252 million, and US$85,000, respectively.
"Theft is for fun." After returning some assets, the hacker explained in the blockchain by asking questions. "Poly Network is a good system, which is very challenging for hackers. I personally am not very interested in money."
But even if the amount returned reaches approximately US$342 million, compared with the approximately US$610 million that was previously hacked, there are still approximately US$268 million in Ethereum assets that have yet to be returned by hackers.
Poly Network became known on Tuesday for suffering what may become the largest DeFi hacker theft in history. On August 10, local time, Poly Network stated that it had been attacked by hackers, causing asset losses worth approximately US$610 million. US$250 million, US$270 million, and US$85 million were stolen from the three chains of Ethereum, BSC, and Polygon respectively. “Tens of thousands of people have been affected by hackers. Currently, approximately $33 million in the stolen stablecoin Tether has been frozen by the issuer of Tether, making it impossible for hackers to obtain it.”
"Dear hacker, we hope to contact you as soon as possible and ask you to return the stolen assets," Poly Network wrote in a subsequent letter. "What you have done may cause the largest Defi theft in history. This may be classified as a crime in any jurisdiction and you will be prosecuted."
Changpeng Zhao, CEO of Binance, said at the same time, "We are aware of the vulnerability that occurred today. Although no one controls BSC (or ETH), we are coordinating with all security partners to proactively provide help, and we will do our best." Security researcher SlowMist said that this is likely to be a long-term planned, organized, and prepared attack. The attacker's email, IP address and device fingerprint have been identified.
About an hour after the hack was announced, Tether Chief Technology Officer Paolo Ardoino blacklisted the hacker's address before the hacker attempted to transfer assets, including USDT, to liquidity pool Curve Finance via an Ethereum address, thereby freezing approximately $33 million in Tether funds. But even so, nearly $100 million was transferred from Binance Smart Chain addresses to the liquidity pool Ellipsis Finance.
“Hackers have begun using decentralized exchanges to convert stolen assets into other assets, including stablecoins,” Elliptic co-founder Tom Robinson explained. “Tokens such as stablecoins can theoretically be confiscated by their issuers, which may enable them to be returned to their rightful owners. However, this is not possible with stolen Ethereum assets.”
With DeFi applications attracting billions of dollars in investment funds, the former has naturally become a popular target for hackers. Data from encryption security company CipherTrace shows that so far this year, Defi-related hacking attacks account for more than 60% of total encryption attacks, up from 20% the previous year. As of the first five months of 2021, the amount stolen from Defi-related hacking attacks was US$156 million, which has exceeded the US$129 million value for the whole of 2020.
However, the overall situation for cryptocurrencies is improving. CipherTrace data shows that criminal losses across the cryptocurrency market dropped sharply to $681 million at the end of July, down from $1.9 billion in 2020 and $4.5 billion in 2019. The overall downward trend may reflect significant improvements in the cryptocurrency industry’s security infrastructure.
The rise in Defi illegal activities comes as the U.S. Securities and Exchange Commission (SEC) speeds up its regulation of crypto assets and seeks legislative support from the Senate. SEC Chairman Gary Gensler said in a recent response to a question from Senator Elizabeth Warren that regulators need more power to protect investors. “Lawmakers should give regulators clear authority to set rules for crypto asset exchanges, including DeFi trading venues. The SEC needs more power to prevent transactions, products, and platforms from falling through the regulatory cracks.”
In June 2021, after falsely reporting a "hacking" incident to customers, Ameer Cajee and Raees Cajee, the founders of the South African exchange Africrypt, disappeared with more than $3.6 billion worth of Bitcoin, becoming one of the largest Bitcoin thefts in history.
According to the China Council for the Promotion of International Trade on January 30, in 2023, the national trade promotion system issued a total of 9,273 outbound ATA carnets, a year-on-year increase of 191.97%.
China's national trade promotion system issued 9,273 Admission Temporaire/Temporary Admission (ATA) Carnets in 2023, surging by 191.97 percent year on year, said the China Council for the Promotion of International Trade (CCPIT) on January 30.
On January 30, 2024, an ocean-going ro-ro ship loaded passenger vehicles for export overseas in the Jiangyin Port Area of Fuzhou Port (drone photo). Image source: Xinhua News Agency
【Knowledge Points】
The ATA carnet is an internationally accepted customs clearance document. It was specially created by the World Customs Organization for temporary entry and exit of goods. It is also called a "cargo clearance passport".
According to reports, in 2023, the national trade promotion system issued a total of 6.2102 million certificates of origin, ATA carnets, commercial certificates and other certificates, a year-on-year increase of 16.05%. Among them, the total amount of non-preferential certificate of origin visas issued by the national trade promotion system was US$382.209 billion, a year-on-year increase of 7.13%; the number of visas totaled 3.9143 million, a year-on-year increase of 13.44%.
The total value of preferential certificate of origin visas issued by the national trade promotion system was US$65.152 billion, a year-on-year increase of 7.07%; the number of visas totaled 1.6769 million, a year-on-year increase of 21.54%. The steady growth in the number of certificates of origin issued by the national trade promotion system, especially preferential certificates of origin, shows that as my country increases the implementation and promotion of free trade agreements and other stabilizing foreign trade policy effects, the ability and level of my country's foreign trade enterprises to enjoy export preferential treatment are also constantly improving.
【Important speech】
We must unswervingly promote Chinese-style modernization, fully, accurately and comprehensively implement the new development concept, accelerate the construction of a new development pattern, promote high-quality development, and coordinate development and security. We must persist in seeking progress while maintaining stability, promoting stability through advancement, establishing first and then breaking, consolidate and enhance the positive trend of economic recovery, and achieve long-term economic stability.
We will steadfastly advance Chinese modernization, fully and faithfully apply the new development philosophy on all fronts, speed up building the new development paradigm, promote high-quality development, and both pursue development and safeguard security. We will continue to act on the principle of seeking progress while maintaining stability, promoting stability through progress, and establishing the new before abolishing the old. We will consolidate and strengthen the momentum of economic recovery, and work to achieve steady and long-term economic development.
——Xi Jinping’s 2024 New Year’s message delivered on December 31, 2023
We have implemented a more proactive opening-up strategy, built a global network of high-standard free trade zones, accelerated the construction of pilot free trade zones and the Hainan Free Trade Port, and jointly built the Belt and Road Initiative into a popular international public good and international cooperation platform. my country has become a major trading partner of more than 140 countries and regions, ranking first in the world in terms of total trade in goods, leading the world in attracting foreign capital and outbound investment, forming a larger-scale, wider-field, and deeper opening-up pattern.
We have pursued a more proactive strategy of opening up. We have worked to build a globally-oriented network of high-standard free trade areas and accelerated the development of pilot free trade zones and the Hainan Free Trade Port. As a collaborative endeavor, the Belt and Road Initiative has been welcomed by the international community both as a public good and a cooperation platform. China has become a major trading partner for more than 140 countries and regions, it leads the world in total volume of trade in goods, and it is a major destination for global investment and a leading country in outbound investment. Through these efforts, we have advanced a broader agenda of opening up across more areas and in greater depth.
——Xi Jinping’s report at the 20th National Congress of the Communist Party of China on October 16, 2022
【Related vocabulary】
Foreign trade enterprises
foreign trade enterprises
certificate of origin
Certificates of Origin
China Daily English Dianjin Studio (This article was first published on the "Study Powerful Country" learning platform)
recently
Visually impaired blogger Xiao Jiang
Posted a video of flying alone
Recorded from a first-person perspective
She flew from Wuxi to Guangzhou
The whole process of traveling by air
Attracting widespread attention from netizens
Xiao Jiang is a post-00 generation and lives in Yixing, Jiangsu Province. In 2023, she became blind due to complications caused by systemic vasculitis.
"I used to travel mainly short distances. I have never taken a plane or been to Guangzhou. This time I just want to experience it." Xiao Jiang said that this was her first time flying after losing her sight for three years, and she wanted to see if she could go further by traveling alone.
So, she set out from Wuxi Shuofang Airport and traveled nearly 1,500 kilometers to Guangzhou, using a hanging camera to record the experience from a first-person perspective.
"I was quite nervous before flying. My family also helped me check some information to see if blind people can travel by plane alone." Xiaojiang made an appointment in advance for the airline's key passenger services, and the staff provided attentive assistance throughout the process. She felt that this attempt was warm and smooth. She hopes that the personal experience recorded in the video will encourage more visually impaired friends to bravely step out of the house.
Xiao Jiang said that from the moment she entered the airport terminal, there was a dedicated person to guide and hand over her. From check-in, security check, waiting to boarding, different staff took the initiative to help every step of the way.
In the 15-minute video, Xiao Jiang said thank you no less than 15 times.
"My seat is in the second-to-last row by the window, and a staff member took me to board the plane in advance." The restroom was very close to Xiao Jiang's seat, and the flight attendant's seat was diagonally behind her. "The flight attendants kept saying that if you need anything, you can contact them at any time, which made me feel very warm."
After landing in Guangzhou, ground staff picked her up and chatted with her all the way, making the long journey much easier.
It was the first time he tried a new means of transportation. Xiao Jiang said that he also had a lot of courage and determination. In fact, not only was the flight there smooth, but the flight back was equally "silky".
Her trip to Guangzhou lasted only three days, but she gained far more than scenery and delicious food—it gained trust, courage, and a new way of understanding the world. "This trip was overall quite good. I had many different experiences and met many people who helped me."
Xiao Jiang hopes that people who have seen this experience, especially the visually impaired, will not be afraid to go out: "We must be braver. Only by taking the step out of the house can we truly integrate into society."
In the future, she also wants to visit more cities and leave her mark. "Every city has its own culture and characteristics. Although I can't see it, I can still feel the warmth and human touch of the city. As long as you are willing to go out, the world will be warmer than you imagine." Xiao Jiang said.
① Douyin issued a financial industry convention, proposing systematic regulations on the creation of financial content in terms of account qualifications, content management, marketing behavior, violation handling, etc.;
② In the specific rules, account qualifications are prefixed as the core threshold.
"Science and Technology Innovation Board Daily" reported on December 17 that "creators in the financial field are encouraged to complete the platform's financial professional qualification certification before publishing professional financial content. Accounts that have not been certified by the platform are prohibited from publishing professional financial content and recommending professional financial services/products."
Douyin's latest "Douyin Community Financial Industry Convention (Trial)" (hereinafter referred to as the "Convention") puts forward systematic regulations on the creation of financial content in terms of account qualifications, content management, marketing behavior, violation handling, etc.
In the specific rules, account qualifications are set as the core threshold. At the same time, the Convention also stipulates clear prohibitions on false and misleading financial information, requiring that the publication of content that goes against common sense and whose authenticity is difficult to verify is strictly prohibited, and behaviors such as exaggeration, rumor-mongering, and fabrication of false information are prohibited. There are also clear restrictions on the product operation behavior of financial institutions.
Different from the previous special rectifications carried out on issues such as illegal stock recommendations and false propaganda, this time the Convention does not focus on "point governance" around a single type of violation. Instead, it attempts to build a relatively complete and predictable system of rules for the production and dissemination of financial content to reduce the possibility of the spread of risky content from the source.
However, with the release of the convention, some members of the public also raised questions: Is Douyin pursuing the management logic of "you cannot speak without qualifications"?
In response to this, Li Liang, vice president of Douyin Group, responded on the social media platform that the focus of launching this convention is to combat the behavior of explaining highly professional content such as financial markets and recommending financial products without professional qualifications. During the governance process, the platform found that some accounts published financial content by impersonating or packaging the identities of experts or employees of financial institutions, which was highly misleading and had a bad social impact. It hopes to remove such accounts from the platform through stricter qualification requirements.
Li Liang also emphasized that the platform encourages creators who are truly engaged in in-depth and professional content sharing to complete qualification certification in advance to enhance user trust; while ordinary users are not restricted in sharing objective and compliant financial experience based on their own experience.
"Having qualifications does not mean you can say anything casually," Li Liang said. In recent years, the platform has established separate community standards for content categories with high professional thresholds and high social impact, such as medical and health, law, and finance, and has also built specialized content review capabilities and introduced reviewers with professional backgrounds to improve the rigor of content control. The ultimate goal is still to provide users with more professional and higher-quality information content.
From a larger regulatory background, the introduction of this convention is also closely related to the recent continuous strengthening of the cyberspace department’s governance of financial content.
On November 26, the Cyberspace Administration of China held a meeting to summarize and exchange experiences on optimizing the business network environment in Beijing. The meeting required that website platforms should adhere to a problem-oriented approach, strictly implement subject responsibilities, improve the ability to discover and handle information that is obviously corporate-related infringements, strengthen the account management of financial "self-media" and MCN institutions, and continuously improve the accuracy of handling illegal information and accounts. It is necessary to improve the level of standardization, optimize the mechanism for accepting and handling reports, standardize the work process for accepting and handling enterprise-related online infringement information, and refine the standards for handling enterprise-related infringement accounts. To improve governance efficiency, cybersecurity and informatization departments must have the courage to take on their responsibilities, actively explore and innovate, polish the brand of the special action "Optimizing the Business Network Environment", and summarize and promote a batch of replicable good experiences and practices.
In addition, regulatory authorities such as the State Administration of Financial Supervision, the Ministry of Public Security, and the China Securities Regulatory Commission have also continued to crack down on illegal online financial activities for a long time. During the "March 15" period this year, according to CCTV news reports, the China Securities Regulatory Commission, in conjunction with the public security, cyberspace and other departments, carried out a severe crackdown on the fabrication and spread of stock market rumors through the entire chain of monitoring, screening, disposal, warning, investment education, etc.
In September this year, the State Administration of Financial Supervision and the Ministry of Public Security jointly released the first batch of typical cases of illegal and criminal activities involving "black and gray industries" in the financial field. They launched a heavy blow to crack down on prominent illegal and criminal activities of "black and gray industries" in the financial field and achieved positive results.
In recent years, illegal and illegal activities in the financial field, such as stock market gossip, illegal and illegal stock recommendations, and spreading rumors through essays, have occurred frequently on various online platforms. With the joint efforts of all parties including supervision and platforms, the financial content ecosystem has gradually developed towards standardization and healthy development.
In fact, before the release of the Convention, Douyin had repeatedly disclosed its progress in the governance of illegal financial content.
On October 11, 2024, Douyin issued a penalty announcement for illegal securities activities such as "illegal stock recommendation". The announcement shows that in the past month alone, the platform has dealt with more than 3,600 illegal accounts related to the stock market and more than 15,000 pieces of illegal content.
On March 10 this year, Douyin issued an announcement (II) on cracking down on “illegal stock recommendation” and other illegal securities activities, clearly encouraging qualified financial and securities professionals to publish authoritative and authentic information and share professional knowledge, while continuing to combat illegal activities such as “providing paid stock recommendation services without relevant qualifications” and “fabricating and disseminating false or misleading information to affect securities transactions.”
In October this year, Douyin issued official reminders on three typical financial scams on the platform, clarifying that the platform resolutely cracks down on all types of illegal financial activities and strictly prohibits behaviors that disrupt economic and financial management order. It also announced data that in the third quarter of 2025, the platform handled more than 100,000 pieces of illegal stock recommendation and other financial violations.
Combined with this "Convention", it can be seen that Douyin has gradually tightened the standard management of financial content, forming a "four-step" financial governance, until it completely and systematically regulates illegal financial content in detail.
In an interview with a reporter from the Science and Technology Innovation Board Daily, Chen Duan, director of the Digital Economy Integrated Innovation and Development Center of the Central University of Finance and Economics, said that in the past period, the platform has adopted more "special rectification" methods for the governance of financial content, which is a typical reactive and campaign-style governance. It can curb illegal stock recommendations, false propaganda and other chaos in the short term, but it is more than sufficient to treat the symptoms and insufficient to address the root causes. The issuance of the "Douyin Community Financial Industry Convention" marks a systematic upgrade of platform governance ideas - from post-processing to full-chain governance that combines pre-prevention, in-process control and post-event traceability.
In Chen Duan's view, the Convention has built a basic framework for the financial content ecosystem through the three major sections of account qualifications, content management, and marketing activities, and has moved the governance focus forward to the human and behavioral level, significantly raising the cost of violations for "pseudo experts" and "fake mentors". At the same time, delineating content and marketing red lines through clear negative lists will help eliminate long-standing ambiguities in rules, stabilize the expectations of creators and users, and promote good money to drive out bad money.
"In the longer term, this type of industry convention is expected to evolve into a de facto industry reference standard, reshape the professionalism orientation of financial content production, accelerate the stratification and professionalization process of creators, and become an important interface connecting financial supervision and online content governance." Chen Duan further said, "Of course, its actual effectiveness still depends on the rigidity of execution, technical identification capabilities and the degree of cross-platform collaboration, especially in aspects such as the credibility of qualification certification and the definition of covert inducement behavior, which still need to be continuously observed and improved."
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