Research On Product Competitiveness Promotion Strategy For Agricultural Bank Of China Jilin Branch

The commercial banks are the kind of enterprises which provide financialproducts and services. Those top financial products can offer services, uplift theclients’ values and help win the intense competition at the market. That is to say, thatthe innovation of the financial products in a commercial bank is the reason that it canwin the competition, so it is the foundation of a bank’s survival, development andpromotion.The global economic recovery has slowed its speed during the year of2012, andat the same time, the economy is at the risk of descending and the financial marketunrest. Even though the international circumstances are complicated andever-changing, China still expanded its economy as expected with a well-developedand fast-paced economy, a steady inflation and an uplifted living standard. Thehealthy development of commercial banks needs a steady economic situation and safemonetary market, but in the meanwhile, the competition among the banks is veryfierce. In face of the difficulties and risks brought about by the nowadays toughsituations, the commercial banks are taking an integrated strategy in order to keep theongoing momentum and achieve the new height of development and progress.The ABC (Agricultural Bank of China) is a large-scale quoted state bank. Thecompetition is becoming more and more intense, but ABC is using its productcombinations, distribution outlets and the leading skill platforms to provide its clientswith a variety of products and services, which benefits from its large networks andhuge flock of the clients. The keys to ABC’s occupying the leading position in the many banks of China are meeting the clients’ needs, innovating new products andproviding the best services. Even so, the stress of competition from other banks isalso pressing. The Jilin Branch is a first-rate branch. With the aim of creating a superlarge-scale quoted bank, the Jilin Branch is working hard on initiating and nurturingcompetitive financial products, which are mainly rooted in the field of government,retails, agriculture and other financial businesses. It is exposed that ABC can occupythe leading position in the circle and keep making progress.“Make the change and don’t be content with the current situation.” The nation’seconomy is developing very swiftly, so are the process of urbanization and the reformof income distribution. China will witness a boost of the countrymen’s incomes andfortunes in the next decade, which will definitely promote the development of thebanking work and the consistent increase of the monetary businesses. The author ofthe present paper aims to research financial products of the industry in Jilin Province,especially the four state banks—ICBC, ABC, BOC and CCB. Based on thecompetition theory, the paper makes a relatively complete analysis on the competitivepower of Jilin Branch of ABC, with the purpose of knowing ourselves as well as ouropponents. The ultimate goal is to provide a theory foundation for making JilinBranch “the essential bank in the city, and the leading one in the county”, thus can weachieve the superior position and promote the competitive of our products.