Research On The Transformation And Development Of China's Urban Commercial Banks In The Background Of Internet Finance

At present,the development of internet finance has become a new growth point of the development of global economy,including China,and also made the competition of financial industry fiercer.Facing with the more complex economic environment,traditional financial institutions need to respond quickly and make their own development strategies.In this context,the paper takes China's urban commercial banks as the object of study.Urban commercial banks are important parts of China's commercial banks,which especially important for the development of local economy.Considering the strategic choice of China's urban commercial banks in the background of internet finance,this paper analyzes the current situation of the development of internet finance and the development of urban commercial banks in China,and focuses on the view of business of internet finance,in the broad sense,should include traditional commercial banks using internet technology,and puts forward the question whether China's urban commercial banks transform and develop in the case of internet finance or not.Based on the PEST analysis,the SWOT analysis and the principal components analysis,the results of the research show that China's urban commercial banks have the possibility to transform and develop by internet finance.This paper concludes that the development of internet finance is a great opportunity for urban commercial banks.China's urban commercial banks should take the chance,by learning from the success of large state-owned banks and joint-stock banks and by considering themselves,to explore a new way of their own development.