According to the Ciyuan dictionary (1937 popular edition, 11th version), the explanation of the term "finance" is: "the state of monetary circulation is called finance. It was formerly known as silver root. Various banks, exchange shops, and money houses are referred to as financial sectors. The Tongjian Changbian states: 'The expenses of the public sector, distributed among the people, are called yuanrong.' This meaning is close to that of finance." The explanation in the Cihai dictionary (1936 edition) is: "(monetary circulation) refers to the form of capital circulation, formerly known as silver root." Due to the ever-changing needs of customers, keeping up with the times, the level, scale, standard, and method of "rong" (circulation) also need continuous innovation. The "rong" of "jin" (money) is not in the past tense, but always in the present continuous tense; it is not a fixed noun, but a changing verb. In short, in order for "jin" to better "rong" in finance and for customers, there is a great need to create more efficient, convenient systems, policies, and social conditions for "jin." More simply put, we hope to identify from the standpoint of the customer (customer-based valuation), which financial institutions, financial products, and financiers better discover customer needs, satisfy them in better ways, and ultimately create higher customer value. And this process is also about how to integrate with customers, harmonize with them, and achieve mutual understanding.
Firstly, the value of "jin" (whether it be a department, product, or person) lies in the process of "rong," that is, to be "rong" in actual material production activities and other expenditure, funding activities, serving producers, consumers, and funders, creating value, not being aloof, not being self-centered, not setting obstacles, and not favoring one over another. Simply ask one question: "Have you integrated?" If not integrated, or if the service provider becomes a controller and taker, then the subprime crisis is the biggest lesson for the financial industry. Such unrestrained plunder will inevitably end in the self-destruction of the plunderer.
For whom does "jin" integrate? Professor Huang Da proposed through research that although the characters "jin" and "rong" are both indigenous roots, the term "finance" did not exist in ancient times in our country, and there is no definitive conclusion on when these two characters were combined into one word. It is generally believed to have appeared in the second half of the 19th century. Given that the Ciyuan began compilation in 1908 and the Cihai began planning in 1905, it can be said that at least by the beginning of the last century, "finance" was officially accepted as a Chinese vocabulary term.
Finally, considering the composition of the entire financial market, it includes both the demand and supply sides of financial products and services, as well as the builders of market infrastructure and the regulators of market activities (provisionally referred to as the third party, the most important of which are relevant government departments). To achieve better "finance," the third party, especially the relevant government departments, needs to carefully listen to the "needs" of the suppliers of financial products, help them develop, and assist their innovations. As China's largest financial media group, the launch of the Financial Value List by The First Financial is also aimed at contributing to the construction of a healthy "finance" environment.
The 2009 First Financial Financial Value List has once again reached the moment of sharing recognition and glory. As we proposed when starting this activity six months ago, we view financial value as a combination of product value, program value, human value, and societal confidence in the financial field, and see it as one of the elements of the social credit system. At the same time, we are committed to building a complete financial value evaluation system, exploring the connotations of financial products, refining the advanced concepts of financiers, and establishing benchmarks for financial companies, thereby stimulating the confidence of investors and consumers (customers), consolidating the foundation of financial value, and igniting the brilliance of domestic financial value.
Financialization is a major trend of the times. How "jin" integrates, melts, merges, and harmonizes requires the industry to better understand its relationship with its service objectives and better define its relationship with the economy and society. This is an eternal proposition and challenge, but the answer is not complicated: it is to be market-oriented and customer-needs oriented, and those who can "integrate" are the "true gold."
This short article is not intended to show off erudition, but rather to explain that finance, in its original meaning, is the state in which "jin," as a service entity, functions in the role of "rongtong" (circulation). "Rong" first appeared in ancient texts such as the Zuo Zhuan, and according to the Ciyuan dictionary, it means brightness, melting, long-term circulation, and harmony. As a philosophical concept, the idea of "yuanrong" emphasizes completeness and integration without hindrance, bias, or isolation, resolving contradictions, achieving harmony and reconciliation, allowing each thing to maintain its original position, complete and unblemished, while still forming a complete whole, interacting and integrating.
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