Research On Competitive Strategy Of Corporate Finance Business Of Bank Of China Colombo Branch

Chinese banking industry has developed rapidly,and domestic competition has become increasingly fierce.Commercial banks continue to increase operating institutions and business units,and launch new products and services to expand market share;at the same time,with the opening up of the financial industry,branches of large multinational commercial banks have entered my country’s financial market..These financial institutions with a long history,rich risk management experience and diversified product systems have made the domestic financial market more competitive.The domestic market has become a red sea of competition,making it an inevitable choice for Bank of China to seek new markets overseas.One belt one road influences companies development.Since the development of socialism has entered a new era,the Party Central Committee has put forward the great initiative of "One Belt One Road",which provides domestic companies with new product markets and investment opportunities,while also providing financial institutions with new markets for corporate financial products and services.More and more companies going global hope that a Chinese bank that crosses the language barrier will provide them with multinational financial products and services overseas.The needs of customers are the market.As an established multinational bank,Bank of China has continuously established branches in important countries along the route in response to national strategies and market demands to provide investment and financing for major infrastructure projects,trade,and financial market services,thus finding a blue ocean for its own development.The branch faces the new environment and new market,and the development of corporate financial business faces both opportunities and challenges.Especially with the outbreak of the new crown epidemic,economic activities in many countries have stagnated or slowed down sharply,global demand has decreased,trade and investment have declined significantly,and the economy has entered a new round of recession.The global PMI has shrunk the most since 2009,and major industries and companies have been affected to varying degrees.The main business area of the Colombo branch in Sri Lanka is corporate finance.Facing the global epidemic crisis and economic crisis,how to make a targeted strategic choice for corporate financial business competition has become particularly important.This article is based on Porter’s competitive strategy theory,core competitiveness theory and dynamic competition theory,combined with the latest relevant literature and research progress,using comparative research methods,field research methods,and using analysis tools such as PEST analysis,five forces analysis,and SWOT.Based on the analysis of the internal and external environment of the Bank of China Colombo branch,the feasibility analysis of the alternative competitive strategies of the corporate financial business was carried out,combined with the QSPM matrix analysis,the correct corporate financial business competition strategy was selected,and detailed and feasible implementation and safeguard measures were proposed.The study found that the corporate financial business of BOC Colombo Branch is facing a complex macro environment and fierce industry competition,as well as the cessation of civil wars and political stability;economic recovery and awaiting prosperity;rapid technological development and increasingly complete infrastructure,etc.opportunity.Branches should give full play to their overseas business advantages,overcome industry competition pressure,and seize opportunities.Branches have abundant market resources,financial resources,operational capabilities,and marketing capabilities.Branches should use R&D capabilities to promote marketing with new products.Use SWOT tools,EFE matrix and IFE matrix to analyze the feasibility of cost leadership strategy,focus strategy,and differentiation strategy,and conclude that the company’s financial business should adopt a differentiation strategy.During the implementation of the strategy,the market positioning should be adjusted,the differentiation of products and services should be emphasized,and product innovation should be promoted through personnel training and technological innovation.To this end,we should strengthen talent training and incentives,improve financial management capabilities and risk prevention and control capabilities,and provide adequate guarantees for the implementation of differentiation strategy.