I'm in the county town, and you say I'm a big shot?

Chapter 792, 791: "What's wrong with Fang Qingye? It seems she's openly clashing with Teacher Ma?"

After Chen Ziqing left, Fang Qingye returned to his bedroom upstairs. The tea downstairs had long since gone cold, so he brewed himself a fresh cup.

It's late at night now.

Standing by the window, looking out, the night view of Wuzhen resembled a watercolor painting with ink still wet from being soaked in water. The glow of lanterns swayed on the river, and the faint sounds of laughter could be heard from the banks.

He was lost in thought.

I wonder how much of what I said downstairs will be heeded by these future internet giants?
Zhang Yimin and Zhang Xuhao—I now have a firm grasp on the direction of these two major companies, which might help them avoid some detours. Moreover, ByteDance's Douyin overseas version is about to launch, and at this crucial moment, we must plan ahead and avoid repeating past mistakes.

Huang Zheng and Wang Xiaofeng probably thought he was being a bit of an "unnecessary worryer." In their view, the market is like the river in front of them; boats that move slowly are destined to be overtaken, and survival is the only thing that matters.

Apply the brakes? Let's talk about that after we win.

Cheng Wei may understand that the losses Didi suffered were real. But when the whip of capital lashes you, can you afford to slow down?
In particular, Didi Chuxing's hasty IPO in the United States was a terrible move; I wonder who came up with that idea?

Now, what I'm offering them is a cup of "sobering tea," hoping to keep them somewhat sober amidst the feast of capital and the frenzy of traffic.

But they are young and passionate, eager to prove themselves through speed and scale. They may not be willing to savor the bitterness of this cup of tea.

"Some pitfalls, you probably only know how painful they are after you've stepped into them yourself."

Fang Qingye muttered to herself.

All I can do is give a shout before the tide is at its strongest.

Whether they listen or not is their fate; whether they speak or not is their own choice.

I'll be making a couple of shouts at the conference tomorrow.

got windy.

Fang Qingye looked at the swaying clumps of green bamboo outside the window and closed the window.

At nine o'clock the next morning, Fang Qingye gave a speech at the "Digital Finance" sub-forum, which was attended by many big names.

Ma Yun, Ma Huateng, Lei Jun, Ding Lei—the internet giants were all there, as were several young people who participated in the "Wuzhen Coffee Gathering" event last night, "Guanlan Wenzhan" (a traditional Chinese drinking game).

What's even more noteworthy is that a group of financial decision-makers and regulatory leaders, including Governor Zhou, Chairman Shang, and Chairman Liu, were also present.

"Good morning, distinguished guests." Fang Qingye, dressed in a suit and tie, stood at the podium. Unlike his relaxed expression last night, he was calm and even a little cautious today.

"Today, we stand at a remarkable juncture. On one hand, technology-driven financial innovation is advancing at breakneck speed, solving problems that were previously unsolvable; on the other hand, market volatility and risk events are sounding a heavy alarm for us."

"It's as if we're sitting in a car with unprecedented performance, the accelerator is already pressed, and the speed is dizzying. But what I want to discuss with you today is not how to press the accelerator even deeper, but whether we have installed a matching, reliable braking system and guardrails?"

car
When Fang Qingye said this, there was a slight commotion in the audience, and the guests all looked at Ma Yun, who was sitting in the middle.

Just yesterday at this time, he also mentioned cars in his speech!
At this moment, Ma Yun was also holding a fountain pen, her expression focused and serious.

Fang Qingye's speech on the stage continued.

"First, we must acknowledge the value of this 'rapid' transformation. Big data risk control has provided small and micro businesses with their first lifeline; digital financial advisors are bringing professional wealth management services to millions of families. My team is a participant and builder in this transformation. The power of technology is undeniable; it has broken down the barriers of traditional finance, which is progress."

"However, history teaches us that a road that only accelerates without repairing guardrails often ends at a cliff!"

"When finance dons the boots of technology, it runs faster, but the contagiousness, concealment, and systemic nature of its risks also increase exponentially. Many of the problems we see today—the abuse of data, algorithmic discrimination, and mismatch of funding terms—stem from the fact that we are using the mindset of transforming the 'consumer internet' to challenge the 'finance' industry, which is inherently intertwined with risk!"

Wow.
The commotion in the audience was even greater.

Even Ding Lei, who was sitting next to him, adjusted his glasses and whispered to Ma Huateng, who was listening attentively, with a puzzled tone: "Pony, what's wrong with Fang Qingye? It seems like she's openly clashing with Teacher Ma? This is quite unusual."

Ma Huateng continued to look at Fang Qingye, who was giving a speech on stage. His voice was soft but his tone was serious: "He's not just arguing with Teacher Ma, but with the entire booming internet finance industry, and even the internet itself. I heard that he kept emphasizing this last night at the Wuzhen Coffee Club."

“Oh, that’s in line with his personality; he’s a rather cautious person,” Ding Lei said.

"Yes, but he is also a very low-key person. It's unusual for him to say such things in this kind of setting. It seems like times are changing."

Upon hearing Ma Huateng say this, Ding Lei couldn't help but glance at him. Compared to his fellow villager surnamed Ma, this "Ma" was more cautious and low-key, but his vision was equally sharp, seizing one opportunity after another.

Is the world really about to change?
Fang Qingye, speaking on stage, reached a crucial point and introduced the concept of "three protective barriers."

First, there is the ethical safeguard of technology.

Second, there are risk isolation barriers.

Third, there is the protective barrier of competitive order.

"Ladies and gentlemen, finance is not an extreme sport that pursues speed; it is an 'infinite game' that concerns trust and stability."

"This competition is not about who runs the fastest in the short term, but about who can remain steadfast on the field after navigating economic cycles. Installing 'guardrails' for innovation is not a constraint, but the most fundamental protection. It protects not vested interests, but every market participant, and even more so, the foundation of financial stability for our entire society."

thank you all.

Fang Qingye bowed and stepped down from the stage, and the hall erupted in enthusiastic applause.

After the speech, Fang Qingye returned to his seat. Deng Rong, who was next to him, whispered, "Fang Xing, I noticed that President Zhou was nodding a lot while you were giving your speech."

As a banking professional, she naturally cares most about the attitude of the highest leaders in the banking industry.

Fang Qingye smiled slightly.

He was not surprised by Governor Zhou's attitude. Since last year, Governor Zhou had expressed a cautious attitude towards financial innovation on various occasions and called for stronger supervision.

In the subsequent agenda, several speakers from technology companies took to the stage. A head of a well-known payment platform enthusiastically outlined his blueprint for "reconstructing credit with computing power," claiming that social data and behavioral patterns could easily overwhelm traditional risk control models. Another founder of a cutting-edge lending app passionately argued that the regulatory "grace period" should be longer to avoid stifling "new financial species that will change the world." Their speeches were brimming with passion and visions of a disruptive future, eliciting frequent bursts of enthusiastic applause—a subtle contrast to the cautious atmosphere following Fang Qingye's speech.

After the afternoon session concluded, as is customary, major news outlets reported on the various forums in their own ways.

Among them, a news article by South China Morning Post reporter Chen Ziqing particularly caught the eye. The title was: "The Debate Over Key Words in Wuzhen: Skyline, Tower of Babel, and Geological Map."

(End of this chapter)