Core Viewpoint - The Chinese Internet Finance Association has issued an initiative to strengthen collaboration in the internet finance sector to combat "black and gray industry" activities, urging institutions to unite against these illegal practices [1][2]. Group 1: Industry Response - Multiple institutions, including Meituan Xiaolai, Lexin, and Qifu Technology, have actively responded to the initiative, indicating a collective effort to address the issue [1]. - Internet finance companies have been engaged in combating "black and gray industry" activities, with Meituan Xiaolai reporting assistance to law enforcement in 77 cases related to various financial crimes since 2022 [2]. Group 2: Nature of "Black and Gray Industry" - The "black and gray industry" encompasses illegal activities such as fraudulent loan intermediaries, fake financial apps, and organized debt evasion, which severely disrupt the normal order of the financial industry [1][2]. - For instance, as of June 15, 2023, there were 1,927 counterfeit apps impersonating Ping An Puhui and 1,846 for 360 Borrowing, which lure victims with exaggerated claims [1]. Group 3: Regulatory Actions - Regulatory bodies have been actively working to address the "black and gray industry," with measures including a notice from the former China Banking and Insurance Regulatory Commission to crack down on illegal agency practices [2]. - A new financial black industry crackdown platform named AIF (Ai Ma) has been launched, involving several financial institutions to enhance collaboration in combating these illegal activities [2]. Group 4: Recommendations for Improvement - Experts suggest establishing a multi-departmental coordination mechanism involving finance, public security, and market regulation to enhance the effectiveness of combating "black and gray industry" activities [3]. - There is a call for improved legal frameworks and increased penalties for illegal activities to deter such practices, alongside strengthening consumer protection systems within financial institutions [3].