Report on the development of China’s banking business in 2020 From China Banking Association

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The following is the Report on the development of China’s banking business in 2020 From China Banking Association recommended by recordtrend.com. And this article belongs to the classification: Investment & Economy, research report.

The China Banking Association issued the report on the development of China’s banking financial management business (2020) (hereinafter referred to as the report) in Beijing. The report is the seventh consecutive year report on the development of financial services industry issued by China Banking Association.

According to the report, in 2019, in order to provide further guidance for the implementation of financial management business, a number of supporting regulatory rules and regulations, such as the net capital management measures of bank financial management companies, have been implemented one after another, guiding banks to steadily and orderly promote the transformation and upgrading of financial management business in accordance with the regulatory provisions. In the process of business transformation, the financial product system of banks has been further enriched, and featured products such as pension products and index products have emerged, and the financial management business presents a pattern of differentiated competition. By the end of 2019, there were 377 banking financial institutions in China with 47300 non breakeven financial products, and the surviving balance was 23.40 trillion yuan, an increase of 6.15% over the beginning of the year. The remaining balance of open-ended products in the whole year was 16.93 trillion yuan, accounting for 72.36% of the total balance of financial products, up 4.72 percentage points year-on-year. From the perspective of risk level, the newly issued financial products are mainly low-risk. At the same time, affected by regulatory policies, the amount of net worth products raised continues to rise, and the balance of personal financial products still shows the characteristics of high proportion of scale. From the perspective of capital utilization, bonds are still one of the key assets of financial products. The proportion of bond assets allocated by non breakeven financing funds is as high as 59.72%, which is 6.37 percentage points higher than that at the beginning of the year.

The report also pointed out that as a bridge between the asset side and the capital end, bank financing business is an important means for the real economy to obtain funds and plays an important role in the allocation of financial resources. Under the influence of the new regulations on asset management and its supporting rules, in the future, bank financial management will gradually return to the source of “entrusted by others to manage financial affairs on behalf of customers”, realize the transformation from virtual to real, improve the ability to serve the real economy in the process of continuous development, and help supply side structural reform. 2020 is the last year of the transition period of the new asset management regulations. All banking financial institutions should compact their responsibilities, properly dispose of the existing assets, and orderly promote the rectification of financial management business. In the future, bank financial management will further accelerate the pace of transformation, improve product system, create core competitiveness, strengthen investor education, and improve the construction level of investment and research capacity, science and technology system and human resources. As the main operation mode of bank financing market, financial management companies will usher in orderly expansion. At the same time, with the promotion of China’s financial industry opening-up policy, Sino foreign joint venture financing companies will be approved and opened in succession, which is conducive to introducing the professional experience of international advanced asset management institutions, further enriching the main body and product types of asset management market, and meeting the diversified service needs of investors.

In addition, from the aspects of business governance, business transformation and innovation, fulfillment of social responsibility and relevant regulatory policies, the report systematically summarizes the achievements of financial management business transformation and development in China’s banking industry in 2019, deeply analyzes the challenges and problems in the process of business development, and explores the improvement path and direction of future financial management business.

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