An Empirical Research On National Commercial Bank's Intermediary Operation

Intermediary service is one of the three big pillars in commercial bank business. With the development of socialistic market economy and the improvement of economic system, intermediary service will play a further important role to the survival and development of commercial bank in China. After China's entry into WTO, intermediary services have been expanded rapidly in China by foreign commercial banks. And the intermediary services of our country's commercial banks are still at the starting stage and have great disparities with the developed countries.According to constraint-induced financial innovation theory, evadable financial innovation theory, the transaction cost innovation theory, and based on commercial banks' basic concepts and theory of intermediary operation's development, in a comprehensive comparison between domestic and foreign commercial banks, this paper applies the econometric method of panel data to analyze 4 macroscopical indicators impacting on intermediary operation such as gross domestic product, per capita disposable income, total direct financing business and the average deposit and loan spreads, and the econometric method of time sequence to analyze 3 microcosmic indicators such as the rate of nonperforming loans, the rate of cash and assets, core capital adequacy ratio.Through empirical analysis, the result shows that: macroscopically, gross domestic product, and per capita disposable income are the direct reasons for effecting intermediary operation of national commercial banks. Microcosmically, the rate of nonperforming loans is the direct reason for effecting intermediary operation of national commercial banks. And total direct financing business, the average deposit, the rate of cash and assets and core capital adequacy ratio are not direct reasons for effecting intermediary operation of national commercial banks.Based on the analysis results, some advices are given at the end of the paper: firstly, develop national economy; secondly, improve per capita disposable income completely; thirdly, expedite the step of bringing up person with ability; finally, build and perfect manage mechanism of intermediary operation.