Research On The Impact Of Internet Finance On Financial Products Of Commercial Banks In China

For all this time,commercial banks are at the centre of financial system,enjoy the dividend system and policy,and in the monopoly position on most financial businesses.But with the arrival of the Internet era,many internet enterprises are moving into the financial sector which lead to the fast development of Internet finance and cause some enormous impact on the traditional businesses of commercial banks.With the development of Internet technology and international finance,the financial industry gradually enters a new era called “Internet + finance” which is based on Internet new media and mobile digital technology.Based on this environment,the Internet third-party payment of financial,P2 P network credit,the raise and so many other Internet financial modes are booming and have a great influence on the development of commercial banks' financial products.So this paper takes the influence of Internet financial on the development of commercial banks' financial products as subject.Firstly,this paper summarizes the related research on Internet financial,commercial banks' financial products and the influence of Internet financial on the development of commercial banks,and elaborates the development and the definition of Internet financial and the innovation of commercial banks' financial products,the main content and characteristics of Internet financial,to lay a theoretical foundation for further analysis.Secondly,this paper analyzes the current situation of Internet financial from four major aspects including the third party payment,the P2 P network loan,the raise and the Internet banking.At the same time,this paper analyzes the current situation of commercial banks' financial products from small micro enterprise financial products,mobile financial services and personal services respectively.Then based on the theoretical analysis and the status analysis,this paper takes the Bank of China as an example,and builds an econometric model to analyze the influence of Internet financial on the development of Bank of China's financial products empirically.And the empirical analysis concludes that: the third-party payment market scale and the Internet fund accrual amount have an obvious negative influence on the development of Bank of China'sfinancial products,and the gross domestic product,the Per capita disposable income,the stock trading sheets,total assets and ROE of Bank of China have different degrees of influence on it.Finally,this paper puts forward the corresponding countermeasures of financial products' formulation and optimization for Bank of China on the basis of theoretical analysis,the present situation analysis and the empirical analysis.