Research On Path Of Integrated Development Of China's Large Scale State-owned Commercial Banks

Comprehensive operation has been one of the hottest topics for academics these years. Especially for the latest ten years, academics and professionals have gradually reached consensus on that it is the right timing of applying it, and major domestic financial institutions also began to strive for gaining new business licenses and building up their own platforms for comprehensive operations. Nevertheless, comprehensive operation in China is still at its beginning stage, in terms of fully taking advantages of comprehensive operation, reaching objects and realizing benefits of comprehensive operation, and promoting financial reform. Author of the article has chosen the big-five state-owned commercial banks as studied entities to explore the road map for their future development on comprehensive operation.Comprehensive operation is a topic with implications from both micro and macro perspectives. For banks and financial intermediaries, whether to choose mixed operation mode is a question on micro level. Meanwhile, for regulators and the development of the whole financial system, whether to grant permit for mixed operation is a legislation question on macro level. China is an economy out of successful economic reform. The history of China's banking sector and financial intermediaries is different from most of the major economies in Europe and USA, and China's road map for development is also different from most of the developed economies. Through detailed analysis on comprehensive operations by big banks and financial intermediaries overseas, the author has found out the main motivation pushing mixed operation transformation forward. In addition, the author also integrated viewpoints from transition economics with analytic framework for financial intermediary, in order to explore how to successfully implement this transformation from both micro and macro perspectives.For big banks, whether to develop their comprehensive operations is highly dependent on the state's strategy, rather than their own individual decisions. We need to push forward legislations on comprehensive operation reform for financial institutions, and to bring the big banks'comprehensive operation into state's strategic policies.To fit in the economic restructuring and future development, diversify big banks business line, and motivate big banks to upgrade their financial functions, big banks'must attach more importance on comprehensive services towards individual clients.