China Banking Regulatory Commission (CBRC) reported on April 23rd that Jiang, Vice Chairman of CBRC, recently delivered a speech at CCISSR Forum in Peking University.
Jiang said that China's banking industry, as an important part of China's modernization, has undergone earth-shaking changes in the past 30 years of reform and opening up, and has made remarkable achievements. This "change" and "achievement" is multifaceted, mainly reflected in:
The modern banking system has been basically established. Successfully realized the historic transformation from a unified banking system to a modern banking system. The People's Bank of China is the only one. At present, there are nearly 1 10,000 banking financial institutions with legal personality in China. There are both commercial banks and policy banks; There are both large commercial banks and small and medium-sized commercial banks; There are urban credit cooperatives and urban commercial banks that mainly serve cities, as well as rural credit cooperatives, rural commercial banks and cooperative banks that mainly serve rural areas; There are not only traditional banking financial institutions, but also new banking financial institutions such as village banks, loan companies and rural mutual funds cooperatives. There are not only banking financial institutions, but also non-bank financial institutions such as financial asset management companies, trust and investment companies, financial leasing companies, money brokerage companies and auto financing companies. There are both Chinese-funded and foreign-funded financial institutions. The financial services provided by banking institutions are also constantly innovating. From simple deposit, loan and remittance services to diversified and personalized financial services, the traditional banking business model has undergone major changes, and the functions of financial supermarkets have gradually emerged.
The overall strength has been significantly enhanced. In terms of asset scale, the total assets of China's financial industry were 304.8 billion yuan in the early days of reform and opening up. Today, 30 years later, the total assets of China's banking industry have reached 52.6 trillion yuan, which is more than 70 times higher than the initial stage of reform. From the perspective of asset quality, the non-performing loan ratio of China's banking industry has dropped from about 30% to 8%, and the average non-performing loan ratio of state-owned commercial banks that have been converted into shares is only about 2%, which has reached or approached the average level of international advanced banks. From the perspective of capital adequacy ratio, China's banking industry has developed from a serious shortage of capital, even negative, to the current average capital adequacy ratio of 8.4%, of which the average capital adequacy ratio of state-owned banks that have been converted into shares has reached12%; By the end of 2007, the capital adequacy ratio of qualified banks 1 and 6 1 accounted for 80% of the total assets of commercial banks. These conditions show that the overall strength of China's banking industry has reached several big steps compared with 30 years ago.
Major changes have taken place in the system and mechanism. Thirty years of reform and development have profoundly changed the system and mechanism of China's banking industry under the planned economy. A commercial banking system that meets the requirements of marketization and internationalization has been basically established, and the degree of marketization has been greatly improved. By introducing all kinds of capital, the bank was transformed into a joint-stock system, realizing the diversification of banking property rights; Modern corporate governance mechanism has been gradually established and improved, and the scientific level of management and decision-making has been continuously improved; Vigorously promote the construction of process banks and comprehensively optimize business processes; Great progress has been made in the construction of internal control mechanism, and the overall risk management ability has been significantly improved; The scientific incentive and restraint mechanism and performance appraisal mechanism have been gradually improved, and the employment mechanism and reasonable and effective salary distribution mechanism have been continuously improved, which has greatly stimulated the enthusiasm of the employees. In the past 30 years, China's banking industry has made a breakthrough and realized the reform of the system and mechanism, which can be said to be thoroughly remoulded.
The service function has been comprehensively improved. Adhere to the basic principle that finance serves the national economy, constantly change the service concept, innovate the service means and improve the service efficiency. The function of banking in serving the national economy has been further enhanced and its role has become more prominent. Over the past 30 years, the loans provided by China banks have always accounted for more than 80% of the total social capital demand, and the credit structure and quality have been continuously improved, providing strong financial support for economic and social development and giving full play to the role of the main financial force. Actively adapt to economic development and changes in financial demand, strive to provide convenient, diversified and personalized financial products, accelerate the pace of financial innovation, and continuously improve service adequacy. Give full play to the unique functions of the banking industry in macro-control, effectively play the role of financial leverage in previous macro-control, effectively promote stable and rapid economic development, and promote economic restructuring and transformation of economic development mode. As the main body of the financial industry, the banking industry plays a significant role in the development of the national economy. Now, we can say that without the stability of the banking industry, there will be no economic and social stability; Without the support of the banking industry, there will be no economic and social development.
The external environment has improved significantly. Over the past 30 years, the survival and development environment of China's banking industry has been greatly improved. The legal environment is more perfect. Laws and regulations such as Commercial Bank Law, People's Bank of China Law, Banking Supervision and Management Law, Company Law, Bankruptcy Law and Contract Law have been promulgated and implemented one after another, providing a solid legal guarantee for the steady operation of the banking industry in China. The regulatory environment was further optimized. Under the framework of separate supervision, the methods and concepts of banking supervision in China are becoming more professional, scientific and international, which greatly improves the effectiveness of banking supervision in China and creates good conditions for banks to resolve risks and develop continuously. The market-oriented business environment has gradually formed, commercial banks have become real market players, and the "four-self principle" has been effectively implemented. The social credit environment has been gradually improved, the construction of the credit system has been vigorously promoted, and a good credit cultural environment for the whole society is taking shape.
The international status has been upgraded unprecedentedly. The changes and achievements of China's banking reform and development in the past 30 years have been widely praised and unanimously praised by the international community, and its influence has been continuously expanded and its international status has been continuously improved. The international ranking of China's banking market value has reached an unprecedented level. At the end of 2007, China Industrial and Commercial Bank (60 1398), China Construction Bank (60 1939) and China Bank ranked among the top three in the global banking market, surpassing HSBC, Citibank, Bank of America and other internationally renowned financial institutions. There are more and more Chinese banks in the ranking of international big banks. In the ranking of global 1000 big banks by British Banker magazine, China has 3 1 bank. International investors have increasingly recognized China's banking industry, and internationally renowned rating agencies such as Moody's and Standard & Poor's have all upgraded the credit rating of China Commercial Bank. China's banking industry has withstood the severe tests of 1987 world stock market crash, 1997 southeast Asian financial crisis and American subprime mortgage crisis, and has always maintained a good momentum of steady development, becoming a beautiful landscape of the international financial industry and winning an unprecedented international reputation and status.