What does Jiahe Internet Finance Coordination Committee do?

The People's Mediation Committee refers to the mass organizations that mediate civil disputes under the villagers' committees and residents' committees, and work under the guidance of the grassroots people's governments and people's courts.

People's mediation activities in China have a historical tradition. As early as the democratic revolution, people's mediation organizations were generally established in revolutionary base areas and liberated areas, mediating a large number of civil disputes and minor criminal cases, which played a positive role in reducing people's lawsuits, enhancing people's unity and promoting production development. After the founding of People's Republic of China (PRC), mediation organizations based on villages and towns were generally established in rural areas of China.

Publicize laws and regulations through mediation and advocate civilized internet access according to law; Through persuasion, persuasion and reasoning, the two parties to the dispute are guided to reach a mediation agreement objectively and rationally on the basis of equal consultation, so as to resolve contradictions and disputes and promote social harmony and stability.

After the financial tsunami in 2008, there was a dispute over Lehman's debt in Hong Kong. Many investors bought some derivatives that they thought were bonds, so that they lost all their money because of the collapse of Lehman. In response to this incident, the government decided to set up a financial dispute mediation center and adopt the mode of "mediation first, then arbitration" to provide an affordable and quick solution for financial disputes with an investment of less than 500,000 yuan (HKD, the same below). Mediation center officially opened yesterday (19).

The mediation center is jointly funded by the government, China Securities Regulatory Commission and HKMA. The government has applied to the Legislative Council for a grant of 92 million yuan, which, together with the funds of the two regulatory agencies, amounts to 654.38+84 million yuan for the establishment of the mediation center and its operating expenses in the first three years. It is reported that the mediation center can handle more than 1000 cases every year, and the processing cost of each case is more than 30,000 yuan based on the annual operating cost of 46 million yuan. The mediation center only handles disputes below 500,000 yuan, so the processing cost is nearly 1%. Whether the cost is appropriate is really a matter of opinion. In the end, the center will be self-financing. According to the principle of government providing fees, investors will charge lower fees, while financial institutions will charge higher fees. Obviously, in the future, financial institutions need to subsidize the operation of mediation centers, and investors still have to pay for wool.