On August 23, EMBA "Financial Afternoon Tea" of COB, SUFE was held in the 369 campus. Professor Yan Yu gave a seminar on internet finance. This seminar was concentrated on the characteristics, challenges and opportunities, regulatory difficulties and the development trend of internet finance. More than forty EMBA audiences attended this seminar.

Professor Yu believes that the internet finance cannot replace banks, but a transition towards financial internet is foreseeable. Followings are the explanations. First, the internet finance is bound with bank cards, which is dependent on banks. Second, the internet finance cannot derive deposits, which have a multiplier effect; while banks can do this. In addition, in terms of internationalization, internet finance enterprises have fewer advantages than traditional banks. In other words, something can be done by banks, but not necessarily by internet finance. Therefore, Tencent and Alibaba have also established their banks.