| In the90s, our country started to reform of our commercial banks and attached importance to theinnovation of financial product. Because of the financial market’s policy regulation, the development isslower than other countries’, and the innovation is also mainly stay on draw lessons from foreigncommercial banks. After entering the21st century, by the opportunity of joining the WTO, we hope to beable to complete with the world economic system, to join the big tide of economic globalization. Wealready began to let go of the financial policy’s control, the financial market’s demand of innovationproducts continues to increase. The commercial banks’ innovation concept also began to change, theybegan to think and explore the financial products’ innovation model.In the process of development and improvement of the financial markets, the characteristics ofour country commercial banks’ financial products become clear. Because our banks’ financial productsinnovation ability have a large gap with the western developed countries,before we joint the WTO,ourcountry is still in the stage of imitation and learning.With the reform and opening up,commercial banksrealize that only constant innovation can stay on the banking industry.Banks began to reform and launchinnovation products which have their own characteristics.Later,they formed specialized research anddevelopment institutions,focused on financial product development and research.After joint theWTO,foreign banks entered China,made the competition between Chinese commercial banks much moreintense.be badly in need of financial innovation in representative series products.In recent years,the external environment of commercial banks changes constantly.The interestrate liberalization makes financial markets more easing,and trade is more flexible,therefore higher requestof commercial banks is needed.Banks should pay attention to the wind as well as keep profit.Theemergence of the Internet financial also makes the giant in the field of electrical business become a newcompetition to commercial banks.Its characteristic is a big shock to the traditional commercialbanks,business must also exploit internet financial related business,to grab market share.At the sametime,with the help of the internet and big data, past merchants from the part of commercial bank loans toother financial institutions in the low threshold of direct financing,our commercial banks also should pay attention to it.Banks can integrate both money and credit information,and provide more direct and completeservice.The environment of our financial market caused our commercial banks’ differentcharactercistics. Hardware support is the development of information technology innovation, technologyinnovation for business customers bring new experience. And with the constant improvement of tradingactivity flexibility requirement,more and more cycle short, packaging products, and they also have strongpertinence. But in our country,the firm’s innovative products also has some problems. The low level ofinnovation, less completely independent research and development; This also caused the product structuresimplification, can’t keep up with changing customer demand;, it is necessary to improve the firm’s ownrisk awareness and management also need to improve the innovative products.So,this paper hope to studyour commercial banks through the current situation and problems.From2011in our country begin to pay close attention to mobile payments and small microenterprise loans, etc.,although started relatively late to western countries, but also in speed, in order toprovide customers with a more extensive and diverse quality services. Nearly three years in all areas ofinnovative products gradually increased, bank merchants and Citic Bank’s POS merchants net loan and soon, not only broke through the limit of time and space, also is the future trend of development, therefore,commercial Banks want to through the new products to attract more customer resources. This paper makesa case analysis, from the perspective of the Citic Bank, through the introduction to the Citic Bank a fewfinancial innovation products and effect analysis, combined with the competitiveness and innovationstrategy research of the Citic Bank, summed up the experience and successful innovation strategy,providing inspiration to other commercial bank financial products innovation.Financial product innovation is the magic to enhance the competitiveness of commercial banks,and how product innovation is required in commercial banks and regulators together to complete.Chinesecommercial Banks need to explore corresponding development strategy. Commercial Banks should notonly do short-term plan,launch similar products behind others,but also look in a macro point ofview,combine capital and currency,put more comprehensive measures. The first premise of these measuresis to strengthen its risk control and supervision system of innovation, make industry laws and regulations,urged the industry to strengthen their innovation consciousness. Second,Banks internal also want to establish an effective innovation mechanism and product audit system, completes the customer survey,understand the market demand, and according to their own market positioning to do targeted strategicplanning. Finally, regulators need to improve risk management mechanism, and constantly adjust accordingto the different stages of financial market regulation, providing a free and fair market environment forcommercial banks.In conclusion,this paper analyzed the present situation and characteristics of Chinesecommercial banks’ innovation products,combines empirical perspective to study the strategy of theinnovation products,in order to provide some ideas and inspiration to the trend of our country commercialbanks’ innovative products. |
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