Financial and Economic Risk Prevention and Countermeasures Based on Big Data and Internet of Things

Given the further promotion of economic globalization, China's financial market has also expanded. However,at present, this market faces substantial risks. The main financial and economic risks in China are in the areasof policy, credit, exchange rates, accounting, and interest rates. The current status of China's financial marketis as follows: insufficient attention from upper management; insufficient innovation in the development of thefinancial economy; and lack of a sound financial and economic risk protection system. To further understandthe current situation of China's financial market, we conducted a questionnaire survey on the financial marketand reached the following conclusions. A comprehensive enterprise questionnaire from the government'sperspective, the enterprise's perspective and the individual's perspective showed that the following problemsexist in the financial and economic risk prevention aspects of big data and Internet of Things in China. Thepolitical system at the country’s grassroots level is not comprehensive enough. The legal regulatory system isnot comprehensive enough, leading to serious incidents of loan fraud. The top management of enterprises doesnot pay enough attention to financial risk prevention. Therefore, we constructed a financial and economic riskprevention model based on big data and Internet of Things that has effective preventive capabilities for bothenterprises and individuals. The concept reflected in the model is to obtain data through Internet of Things, usebig data for screening, and then pass these data to the big data analysis system at the grassroots level for analysis. The data initially screened as big data are analyzed in depth, and we obtain the original data that can be used tomake decisions. Finally, we put forward the corresponding opinions, and their main contents represent thefollowing points: the key is to build a sound national financial and economic risk prevention and assessmentsystem, the guarantee is to strengthen the supervision of national financial risks, and the purpose is to promotethe marketization of financial interest rates. KCI Citation Count: 0