[direct reporting network Beijing July 22nd news] (Economic Daily Chen) in the supply side of the structural reforms of the year, the financial sector should play a role. Put forward by the Central Committee "to productivity, to inventory, deleveraging, reduce costs, and make up for weaknesses in" five major tasks, each needs the support of the financial industry. As the main body of China's financial industry, banks should take the initiative to take responsibility in the reform of the supply side.

With the reform of the supply side, the new demand for financial services will continue to emerge, which brings new challenges to the financial industry, but also brings new opportunities for the development of the financial industry. In this context, its own financial system urgently need a systemic change, Ping An Bank and other commercial banks proposed "commercial bank supply side reforms, echo of the current national policy from both banks and bank transformation objective demand.

In the push of The Belt and Road construction, along the economy will bring new opportunities for consumption and investment, derived a lot of demand for financial services. With the deepening of financial reform into deep water, the quality and efficiency of the financial supply system will be greatly enhanced. In this context, the banking system itself is imminent. Commercial bank system reform require banks to from the strategy innovation, management innovation and product innovation increase effective supply of financial capacity, improve the quality and efficiency of service of commercial banks, optimize the allocation of financial resources, provide strong financial support for the development of the real economy and industrial transformation.

At the strategic level of innovation, enhance the comprehensive financial services capabilities is an important starting point to deepen the reform of commercial banks. Supply side reform will create a new supply, the release of new demand, which requires commercial banks from the traditional deposit and loan business to the integration, the whole process, one-stop integrated financial services. The key is to jump out of the bank to do banking, from the whole industry chain resources integration level to top-level design and reconstruction. Not only help the core enterprise to solve the financial problems, but also to help enterprises to find the market, looking for projects, looking for partners, looking for a consumer group, and other issues.

In the management innovation, process reengineering is the premise. At present, the mainstream of the international commercial banks, such as Citigroup, HSBC, Bank of Holland, have taken the mode of the business unit system. At present, some banks in our country, such as Ping An Bank, have already made an attempt in the reform of public institutions.

In terms of product innovation, Internet plus bank is one of the main direction of the current number of banks. Electronic commerce as a representative of the emerging economic format, the financial industry has put forward higher requirements. Commercial banks need to use new technology to upgrade to improve financial products, improve financial services, to meet the new needs of the new economic format.

Supply side reforms promoting for China's financial industry development direction, has opened up a vast space, financial industry itself should also be keep up the pace of reform, actively restructuring and upgrading, quality and efficiency, so as to realize the efficient matching of financial supply and demand in the real economy. 3

(original title: commercial bank supply side structural reform is imminent

Editor: Xiao Shen

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