The Thinking Path of Deepening Transformation and Innovation of Chinese Banking Industry under the Background of “New Normal” Economy

Source:
By:Guaili Zhang

DOI: https://doi.org/10.30564/jesr.v2i4.1103

Abstract:

This paper analyzes the three big impact in the development of Chinese banking industry and discusses the limitations of financial innovation of Chinese banking industry. The results showed that: (1) deepening the banking system innovation to adapt to the new situation; (2) improving customers’ experience by deepening model innovation of the internet financial; (3) improving intensive of bank branch operation and the intelligent of network service with the aid of informatization; (4) Providing individualized, characteristic and differentiated services for high-quality customers of banks and enhancing customer value through lightweight network outlets; and (5) Adapting to the development of new entity economy by comprehensive management, optimizing the operation mode of outlets, and strengthening the supply side reform of commercial banks themselves.

References:

[1] Project Group of Dazhou Central Branch of the People’s Bank of China. Study on the Profit Model Transition of Urban Commercial Banks in China under the Marketization of Interest Rate.Bank Management, 2016, 3. [2] Yin Xiaojun. Internet financial innovation and transformation of traditional banks in the era of big data . Financial Weekly. 2016, 19. [3] Bian Weilin. Facing the positive impact, the system transformation is urgently needed. Banker, 2015, 2. [4] “Internet +” era of big data transformation and development strategy of commercial banks, 2017. http://wenku.baidu.com [5] Boya. Incentive Compatibility: Banking Financial Innovation Regulatory Mechanism, Shanghai: Shanghai Jiaotong University Press, 2013: 184. [6] Jiang Yuting. Financial Innovation, Performance Growth and Financial Supervision of Commercial Banks in China [D]. Doctoral Dissertation of Northeast University of Finance and Economics, 2017. [7] Hu Jianping, Analytic Hierarchy Process of Financial Product Innovation of Commercial Banks and Innovation Direction of Chinese Banking Industry.Shanghai Finance, 2004, 7. [8] Wang Guangyu, New Real Economy: Restarting China’s Growth Motivation. Small and Medium-sized Enterprises in China, 2017, 10. [9] Heyu. Exploration and Enlightenment of Network Transformation 4.0. Journal of Hangzhou Institute of Financial Research. 2016, 9. [10] Zhou Xue. Key words of bank transformation in 2017: Light. international, financial science and technology, Financial Times, 2017, 2. [11] Ou Minggang. The transformation and efficiency improvement of bank outlets under the new situation. Bankers, 2015, 2. [12] Wang Ruijie and Hou Zhiyong. The impact of the extraordinary development of Internet Finance on commercial banks. Economic and trade practice, 2016, 7. [13] The transformation and efficiency improvement of bank outlets under the new situation, 2017. http://www.360doc.com [14] Boston Consulting Company. Intelligent Operation: The Next Decisive Place in the Competition of Banking Industry--New Operation Model of Chinese Banking Industry. Business Operation and Management of Commercial Banks, 2017, 12. [15] He Dayong, Chen Benqiang, Cheng Yi, Tan Yan, Zhang Wenqi. Intelligent operation, the next decisive place in banking competition. Science and Technology China, 2018, 1. [16] Wu Yuren. Also on the transformation of commercial bank outlets and the release of labor force. Modern Commerce, 2016, 11. [17] Zheng Zishu and Li Chaohui. How to use intelligent operation mode to promote network transformation. China Banking Industry, 2016, 7. [18] Jiang Guizhen. Business Bank Operation Transition under the Background of Financial Disintermediation . Economic Guide, 2010, 8. [19] Yang Sen. Research on strategic transformation of bank outlets based on retail business. Master’s thesis of Shandong University, 2015, 12. [20] Wang Ping. Transition and Development Strategy of Commercial Banks in Big Data Era. Market Modernization, 2016, 12. [21] Guo Meiliang, Zhang Yu and Liu Zhibo. Functional evolution and business transformation of commercial banks under the background of interest rate marketization. China’s banking industry, 2016, 11. [22] Zhu Qiaoqiao. Research on the Development Path of Commercial Banks under the Background of Supply-side Structural Reform [J]. Times Finance, 2016, 11. [23] Jia Zhiwei. Some Thoughts on the Real Economy of Financial Services: Taking Chongqing as an Example. International Finance, 2018, 4. [24] [Australia] Brett King. Bank 4.0: Banking Everywhere, Never at a Bank [M]. Guangdong: Guangdong Economic Press, Peer Culture, 2018, 12.