《商业银行业务创新与思考》(5)

论商业银行业务创新问题及对策---以中信银行为例

参考文献

[1] 杨如彦.中国金融制度创新报告.北京工商大学学报，2005,(4) [2] 蔡奕法.制度变革与金融创新.辽宁经济，2006,(5) [3] 吕耀明.商业银行创新与发展.现代经济探讨，2003,(3) [4] 陈岱孙，厉以宁. 国际金融学说史.中国金融出版社,1998

[5] 王发红，朱锋. 我国商业银行业务创新问题研究.济南金融，2001,(8) [6] 刘甲科.加快商业银行业务创新的思考.现代企业，2003,(3) [7] 宋安平.商业银行核心竞争力研究.中国金融出版社，2009 [8] 刘毅.商业银行经营管理策略分析.经济周刊，2007,(1)

[9] Valentine V Craig .China’s Opening to the World What Does It Mean for Banks. FDIC

Banking Review, 2008

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论商业银行业务创新问题及对策---以中信银行为例

Appendix

Strategic Thinking on Corporate Business of Small and Medium-sized

Joint-stock Banks

Author: ChenXiaoxian Source: Market report

Rational positioning seeks a healthy development

Faced with the internal pressure as well as the challenges from the complicated external environment, it is not only a theoretical problem, but is a serious practical choice for small medium-sized joint-stock commercial banks to choose a new development strategy in order to get an invincible position rather than being marginalized in the fierce competition in the future. Market position is the key to implementing this strategy. Then it comes the following three questions.

What position should small and medium-sized joint-stock commercial banks occupy in the market competition?

Currently, the major domestic joint-stock commercial banks have developed their own characteristics in size, brand, network and product and achieved certain competitiveness. Under such conditions, which steep our corporate banking business should take next remains a question. Whether to uphold and consolidate the mainstream quality customer access position through the hard work of 10 years, or to retreat to a relatively more risky SME market is a tough choice. This is not only a challenge to the market pioneering spirit and ability of the bank managers, cadres and employees, but also a test to the whole small and medium-sized joint-stock commercial banks. In 2006, CITIC bank proposed a concept and strategy \public bank\outlining the objectives, direction and overall requirements of future development for the corporate banks, that is one of the major cooperative banks of the major

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论商业银行业务创新问题及对策---以中信银行为例

clients in the mainstream market, the mainstream areas (such as the small an medium-sized bank of the two banks which the customer has chosen). The strategic goal is rational choice made by CITIC Bank based on scientific judgments of the competitive environment of domestic corporate banking. Practice proves that only strategic positioning of mainstream banks can prevent being marginalized in the intense market competition and can ensure the continued development of corporate banks.

What the positioning of corporate bank clients should small and medium-sized joint-stock commercial banks hold?

Clients positioning is the most important strategic position for the small and medium-sized joint-stock commercial banks. The theory circle has given various explanations about clients positioning but the most typical is the so-called \this view, small and medium-sized joint-stock commercial banks could not compete with the large state-owned commercial banks and foreign banks due the small size, therefore they should be positioned in the SME or mid-market. This theory has been proved rational and practical by practice of some small and medium-sized joint-stock commercial banks. For example, the experience of the US, UK, Japan and other developed countries has shown that small and medium-sized commercial banks have their specific market function; and most small and medium-sized commercial banks have positioned themselves as \In Germany, it is the major regional financial institutions, savings banks and cooperative banks and other small commercial banks that serve for SEMs. Although multinational companies gathered in Hong Kong, most of small and medium-sized commercial banks set the SMEs as the main targets.

But as to current stage of development in China, when small and medium-sized joint-stock commercial banks set the client positioning, they should take two factors into consideration.

Correct operation philosophy should be set for guidance.

The philosophy should at least include the market value of ideas, capital, ideas, concepts of quality, risk philosophy, service philosophy, and innovative ideas and so on. Among them,

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论商业银行业务创新问题及对策---以中信银行为例

the \of profit to filter out the real risks\and \stable growth of bank market,\is supposed to be the core philosophy. Only by adhering to this philosophy, can small and medium-sized joint-stock commercial banks maintain the continuous improvement of core competitiveness. When it is reflected in the client positioning, it cannot follow the previous \is beautiful\\is better\approach, and also it cannot be considered that small and medium-sized joint-stock commercial banks can only serve SEMs or mid-market. There is only one standard, which is to see whether the selected client positioning can ensure the small and medium-sized joint-stock commercial banks enter the market continued steady growth in profits interval.

When setting the client positioning, banks must take into account the national conditions and development of small and medium sized joint-stock commercial banks, the reality. And here two issues should be addressed.

First, why the client positioning should not only on SME clients? On the one hand, the standard of customer classification is different in different regions and the standard of big, medium and small enterprise is different in different regions. For instance, in Beijing, Shanghai, Guangzhou, Tianjin, Chongqing and other cities, the bank's customer is likely that large enterprises, while medium-sized enterprises, or even the majority of small businesses are in Jiangsu, Zhejiang and Fujian.

The large enterprises in Zhejang are perhaps only considered as a medium-sized enterprises, and even small businesses in Beijing, Shanghai. Thus, it is difficult to develop \hand, the scale of clients is not a measure of the quality of the clients. There is good or bad in both large enterprises and small business. Survey showed that many SMEs’ financial performances are: lack of funds; higher debt ratio, weak long-term solvency. In addition, some small and medium-sized enterprises is also problematic in corporate governance and reputation. Of course, SMEs have good clients with good prospects for development and comparative advantages of development. Therefore, client positioning cannot be set only on the basis of the scale of the clients, on the contrary it should emphasis on the qualified and the mainstream clients. However, practice also shows that the risk cost of small business is

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论商业银行业务创新问题及对策---以中信银行为例

generally and the high-quality enterprises of medium and large size can create more profits for the banks.

Second, why are small and medium-sized joint-stock commercial banks able to develop medium or large-sized high-quality clients? On the one hand it is determined by China's current situation. Differences of client positioning has some historical reasons, the foreign bank's clients really understand clearly that the big banks are dealing with big clients; small banks are dealing with small and medium clients. Not to say that these small clients want to choose small banks and small banks want to choose a small client, it is the result of long-term market competition, after full pricing and full competition, full clients’ selection. However, the status quo of China is that the big market is far from unified form. There is regional market segmentation, trade barriers and administrative intervention. Thus a company's pricing system is still not fully established and unified. When the risk pricing is not in unified form, the cost factor will be canceled, including relational, even the one’s drinking capability may be regarded as a standard. This is the condition exist in China right now. Practice shows that domestic firms’ market pricing and bargaining is the long and evolving process, because the small and medium sized joint-stock commercial banks do not have the true comparative advantage so that they cannot give up the large and medium qualified clients’ marketing. On the other hand, the customer managers of small and medium-sized joint-stock commercial banks have strong market competitiveness. The growth of small and medium sized joint-stock commercial banks is depressed by large state-owned commercial. And in this incentive and restraint mechanisms, these banks are in fierce competition in the market economy from the beginning is always. In the face of competition and external pressures, small and medium-sized joint-stock commercial banks must adhere to maximize profits or maximize the principles of equity and encourage the ever-increasing efficiency and dynamic. In this setup, there is no \no matter they come from state-owned commercial banks or they come out of the cruel training from the real workplace. Therefore, when developing the market, the team of customer managers should be provide with an appeal and requirement that they should do business with high-quality corporate and high-quality customers, regardless of the size of

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