The Research Of State-owned Commercial Bank Strategic Transformation And Achievement Evaluation

The reform of state-owned banks (SOBs) is the core of the reform of China's financial system, and also the key step of China's economic institution reform. Due to bearing huge cost during the social and economic transformation in China, the SOBs suffered a lot in the process of reform. Every step of the process was so important that it had led great attention domestically and internationally. The issues such as injecting capital by government and choosing strategic investors were questioned and disputed by all kinds of people. However, those banks came to a renascence and turned in surprised results after IPO, which made the public start to reconsider the role of the reform, and ignited more expectation to the future deepening reform. Presently, Agricultural Bank of China is preparing for the reform and the experience of the other state-owned banks may be the best model for it. At the moment of the success of the bank's reform and IPO, it's very necessary to study the reform experience of ICBC, BoC, CCB and BoCom.The study expanded by retrospecting the background and history of four state-owned banks, learning the experience of the state-owned banks'reform from east European countries, and researching on the key steps and results of the reform. According to the international and domestic experience and lessons, give some theory bases and policy suggestions for the further reform of China's financial system and ABC's coming reform.The framework is as following:Chapter 1 is introduction; mainly introduce the background and meaning of the subject, research methods and object, the summary of related literature, the framework and the innovation points.Chapter 2 is about the changing of the financial system during China's economic transformation. Firstly, about the theory base for the financial reform. Secondly, about the history of China's financial system development. Thirdly, analyzing the international and domestic background and necessary of the SOBs' reform. Chapter 3 is about the experience and lessons from the state-owned banks reform of Czech, Poland and Hungary, and give some suggestions according to China's reform.Chapter 4 is about the history of SOBs since 1998, and the whole blueprint given by the government since the special group established in 2002 to study the SOBs' reform by the State Council.Chapter 5 is talking about some key steps during the reform. Analyze the key processes such as government injecting capital to the SOBs, disposing non-performance asset, establishing the joint-stock company, strategic investing and IPO in the reform of ICBC, BoC, CCB and BoCom. Review the four banks' detailed measures during these key processes and the dispute and discuss from the public.Chapter 6 evaluates the results of the reform. Firstly, according to the target given by the government at the beginning of the reform to check the reformed banks' results. Secondly, applying the cost-return method to test the changing of the state-owned capital, and comparing the changing of earning capability and NPL ratio pre and after reform. Thirdly, applying DID(Difference-in-Difference)model to test the reform achievement. Finally, analyzing the SOBs'international competition ability.Chapter 7 is to explore the direction and blueprint about the SOBs'further strategic transformation and attempt to bring forward the theory bases and policy suggestion to the further reform of China's financial system. Firstly, on the bases of SOBs' reform history and international peers' experience, discuss the possible dilemma from outside and inside during the further reform. Secondly, learning the reformed banks' experience, put forward some opinions on ABC's coming reform, especially on the aspect such as financial restructure, choosing strategic investors and IPO, etc. Thirdly, analyze the role what the new established China Invest Company will play in the future reform, such as how to help the reformed banks to deal with the problems left behind by history reason, and how to improve corporate governance and international competition ability etc. Fourthly, put forward three directions for SOBs' further strategic transformation. There are universal banking based on the thought of functional finance, internationalize of the big banks and difference among the banks, and suggest to establish a multi-leveled bank system.