Study On The Transformation Of The Profit Pattern Of Commercial Banks In China Under The Background Of Financial Disintermediation

In the 60 s of last century,the US government introduced the famous "Q Ordinance" to ease inflation and lower interest rates.The promulgation of the "Q Ordinance" made the United States the first country to produce financial disintermediation.With the deepening of global economic integration and the continuous development of capital markets in various countries,financial disintermediation is becoming a global phenomenon.China also began to appear this phenomenon more than 10 years ago.With the rapid development of China's economy and finance,financial disintermediation is becoming more and more significant in China.Nowadays,the rapid rise of Internet finance,the acceleration of interest rate marketization and the continuous improvement of the financial market have made the phenomenon of financial disintermediation deepening in our country.With the deepening of financial disintermediation,the deposit of commercial banks has been reduced,and the loan has been greatly squeezed by the financial market.The traditional business profit model of "the main profit source of the profit margin,the expansion of the credit scale as the main business form and the division supervision as the main supervision mode" Great impact.At the same time,the non-traditional business development of commercial banks is slow,the variety of business is single,and the innovation is seriously inadequate,and these disadvantages directly lead to the lack of income generating capacity of the non-traditional business,which greatly reduces the profit income of commercial banks.Therefore,in this special economic period,if China's commercial banks want to survive and develop for a long time,it is necessary to speed up the transformation from the traditional business profit model to the non traditional business profit model.Only in this way can China's commercial banks successfully cope with the challenges of financial disintermediation and enhance theircomprehensive competitiveness.This paper first collated the related documents on financial disintermediation and commercial bank's profit model,and defined the concept of financial disintermediation and commercial bank's profit model,and then qualitatively analyzed the current situation of financial disintermediation and the profit model of commercial banks in China and its commercial banks in China.The specific impact of the profit model.Then it selects two financial disintermediation indexes representing commercial banks' assets and liabilities as explanatory variables,and two indicators of net profit and non interest income representing commercial banks' traditional business profit model and non-traditional business profit model respectively.The loan rate,the reserve coverage rate,the loan to deposit ratio,the net asset return rate and the macro index GDP growth rate and the M2 growth rate are the control variables,and the panel data model is constructed.The regression analysis of the related data of 16 listed commercial banks in 2007-2016 years by the fixed effect model shows that the financial disintermediation has a negative impact on the traditional business profit model of commercial banks,but has a positive impact on the non-traditional profit model of commercial banks.This paper analyzes the specific influence of financial disintermediation on the profit model of commercial banks in China through the combination of theoretical and empirical research methods,and provides the relevant direction and Countermeasures for the transformation of the profit model of commercial banks in China at the end.