Research On The Development Strategy Of ICBC Europe Market

In recent years,as an important support for the construction of the “Belt and Road”,the Chinese financial industry has provided business opportunities for the “ Belt and Road”,and the“Belt and Road”has also provided new opportunities for the opening of the Chinese financial industry and international cooperation.As the largest commercial bank in China,ICBC has also made outstanding achievements in supporting the “Belt and Road”.In the domestic market,ICBC has a lot of advantages.In recent years,ICBC has also achieved various honors and impressive performances.However,when you go abroad and enter an unfamiliar economic market,ICBC competes with other large international banks and excellent local banks without the previous advantages.At this time,the disadvantages that have not been noticed in China will be magnified and revealed.ICBC still have advantages overseas.As the country is on the world stage,the RMB plays an increasingly important role on the world currency stage.Chinese enterprises are also actively expanding overseas and are more willing to look for Chinese Banks in the process of internationalization.Based on the of international development strategy of ICBC and the related theories of internationalization,this paper introduces the current situation of the internationalization of ICBC,and points out the existing problems in the development of European institutions according to the characteristics of ICBC's European market.Then uses the PEST analysis method for the European market and political and legal environment,economic environment,social and cultural environment,technology environment and macro environment analysis.Porter's five forces model is used to analyze the competitive environment.Combined with European institutions internal environment analysis,through the SWOT analysis,summed up the development environment of ICBC's European market strengths,weaknesses,opportunities and threats.It provides a more comprehensive environmental analysis for the European institutions of ICBC,and provides strong support for further expanding the European market.Combined with the strategic objectives of European market,this paper puts forward three strategies for European market development of ICBC: expansion strategy,innovation strategy and brand strategy.There are three corresponding safeguard measures:talent guarantee,risk control guarantee and science and technology guarantee.This paper holds that the European market of Industrial and Commercial Bank of China has developed to the stage of rapid expansion.However,in the development of the European market,besides the relatively single source of customers,other problems such as unreasonable branch layout,operating risks,and lack of core business have emerged.In the future,we should use China's "Belt and Road" construction advantages to formulate strategies in branch layout,customer development,regional management,etc.And it has made clear the strategic thinking of European Organization layout,the way to expand the European market and the development of European business aspects.To further strengthen products,markets,staffs and brands,and enhance the core competitiveness of European institutions.