The Study On The Strategic Transformation Of CCB Of S Province In The Context Of Internet Finance

2013 marks the first year of Internet finance in China,which became the most sought-after financial noun that year.A variety of new Internet financial industries started to emerge and the ideological trend of Internet finance spread throughout the financial industry rapidly.Supported by big data,cloud computing,mobile Internet technology and other cutting-edge information technologies,Internet finance has gradually developed as a financial industry in the main forms such as Internet banking,P2P loan,third-party payment,Internet insurance,etc.It has posed challenges to many traditional businesses in commercial banks,including debt business,assets business,and intermediate business.People increasingly realize that the aspiration of "if banks don' t change,we will change them" that Ma Yun,President of Board of Directors of Alibaba,said in 2008,is greatly likely to come true.By empirical research and on the background of Internet finance,the paper takes the construction bank of Province S as the main research object because it is a large state-owned commercial bank of great representative significance in Chinese banking industry.The paper analyzes systematically the specific influences of Internet finance development on the bank's assets,debt and intermediate businesses,and points out its necessity of transformation.It also analyzes comprehensively the external environment of the construction bank of Province S,and the opportunities and challenges from the dimensions of macro environment,industrial environment,and industrial competition conditions.At the same time,the paper analyzes the bank's advantages and disadvantages in its internal environment by combining its internal resources and capacities.To better understand the reaction conditions of the bank to the external environment and the awareness of its own advantages and disadvantages,the paper uses internal and external factor evaluation matrix and makes a comprehensive analysis on its key internal and external factors faced by it through questionnaire survey.To study the opportunities,threats,advantages and disadvantages in its internal and external environment,the paper uses the method of SWOT analysis to make a comprehensive analysis on its key internal and external factors.Combining the evaluation results,the paper points out that,the external opportunities faced by the bank are larger than threats,while internal disadvantages are larger than advantages.Thus,it should adopt transformation strategy to minimize its internal disadvantages and seize external development opportunities,in a way to improve its response ability to the competition from Internet financial enterprises.Through combination with the measures having taken in the construction bank of Province S and its internal and external conditions,the paper puts forward five aspects for its transformation,namely,transformation of operation principle,operation model,channels,business,and management.Considering that as a large state-owned enterprise,the bank has a number of internal organizations,complicated departmental benefits,and problem of coordination among departments,the paper proposes seven support and safeguard measures for its transformation.They are comprised of establishing transformation promotion organization,improving transformation promotion evaluation system,strengthening resources allocation for transformation promotion,improving meticulousness of pricing management,enhancing comprehensive risk management and inner system establishment,increasing information technology construction and big data application,and cultivating excellent corporate culture.The conclusion summarizes the paper that,taking the construction bank of Province S as an example and combining the general background of Internet finance,puts forward that commercial banks in China should focus on transformation in operation principle,operation model,channels,business and management,and provide strong support and safeguard measures to make ensure the transformation measures are effective.The paper also has an outlook on the further research in the hope that future researches will give more emphasis on the application conditions of new technologies in commercial banks and the evaluation analysis on their transformation.