Recently, an announcement by the People's Bank of China has attracted widespread attention in the financial community: Alipay, a non-bank payment giant, has changed to no actual controller. This news not only marks a new change in Alipay's corporate governance structure, but also triggers an in-depth discussion about its future development direction, responsibility attribution, and impact on the entire electronic payment industry and the financial industry.
First of all, we need to be clear that the absence of an actual controller does not mean that Alipay has become an "unmanned" institution. On the contrary, this change is achieved through the decentralization of the shareholding structure and the transparency of voting rights, with the aim of improving the level of modernization and sustainable development of corporate governance. According to the definition of the Administrative Measures for the Acquisition of Listed Companies, there are no single or joint shareholders of a company without an actual controller, which means that the company's decision-making will be more democratic and pluralistic.
So, in the context of Alipay's change to no actual controller, who is responsible for the problem?In fact, as a legally registered and regulated payment institution, Alipay's legal liability will not be reduced due to changes in its shareholding structure. If Alipay has problems or illegal acts in the process of operation, it still needs to bear the corresponding legal responsibilities in accordance with the law. At the same time, Alipay also has a sound internal risk management and internal control mechanism to ensure the company's compliant operation and the safety of users' funds.
For users, is it safe to use Alipay?The answer is yes. As one of the leading electronic payment platforms in China, Alipay's security and stability have always been one of its core competitiveness. After changing to no actual controller, Alipay will have more opportunities to introduce diversified strategic investors and partners to further improve its technical level and risk management capabilities. At the same time, the regulatory authorities will also strengthen the supervision of Alipay and other payment institutions to ensure that their business operations meet the requirements of laws and regulations, and ensure the security of users' funds and information.
In terms of guarding against risks similar to Evergrande's Xu Jiayin, Alipay's change to no actual controller is actually a risk diversification strategy. By bringing in more shareholders and partners, Alipay can reduce the influence of a single shareholder or management on the company's decision-making, thereby reducing the risk of individual or team decision-making mistakes. In addition, companies without actual controllers often need to establish a more complete internal control system and risk management mechanism to deal with various risks and challenges that may arise.
For Alipay's affiliates, this change will also have a certain impact. As one of Ant Group's subsidiaries, Alipay's shareholding structure changes will directly affect the shareholding structure and governance structure of its affiliates. For example, Ant-affiliated companies such as Hang Seng Electronics and Cathay Pacific Property & Casualty Insurance have also been changed to no actual controller due to the restructuring of the voting rights of Ant Group's shareholders. This will prompt these affiliates to further improve their governance structure and internal control mechanism to adapt to the new shareholding structure and market environment.
From a more macro perspective, the impact of Alipay's change to no actual controller on China's electronic payment field and financial industry is also far-reaching. First of all, this change is expected to break the current competitive pattern in the electronic payment market and promote the open and diversified development of the market. As more payment institutions adopt similar governance structure changes, the electronic payment market will present a more diversified and competitive pattern in the future. Second, this change will also promote the innovation and development of China's financial industry. Companies without actual controllers tend to pay more attention to market-oriented and innovation-oriented business strategies, which will bring more innovation opportunities and development space to the financial industry. Finally, this change will also enhance the international competitiveness of China's financial industry. With the continuous opening up of China's financial market and the rapid development of financial technology, China is expected to play a more important role in the global financial sector in the future.
Alipay's change to no actual controller is a landmark decision. It not only marks a new chapter in Alipay's corporate governance structure, but also brings new opportunities and challenges to the development of China's electronic payment and financial industry. We have reason to believe that in the future development, Alipay will continue to maintain its leading position and make greater contributions to the development of electronic payment and financial industry in China and even the world. At the same time, we also look forward to the joint efforts of regulators, payment institutions and users to promote the healthy, stable and sustainable development of China's electronic payment and financial industry.