Research On The Impact Of Internationalization Of Chinese Banks On Their Competitiveness Under The Background Of “One Belt, One Road??

With economic development entering a new-normal stage,China is facing the needs of macro policy innovation such as economic transformation,industrial structure upgrading and deepening opening to the outside world.In the post-crisis period,the economic recovery in the developed countries is weak,and the emerging market countries show great potential for development.The "one belt,one road" initiative came into being.Since then,the prosperity of China’s foreign investment and economic cooperation has promoted the internationalization of Chinese banks.The problem of bank internationalization involves not only the bank itself,but also the overall environment of the financial system,as well as the integration between the internationalization path and the overall development of the financial system.In recent years,trade frictions between major countries have intensified,and a new pattern of "double cycle" development has been put forward,which has brought great challenges to the international development of Chinese banks.Under the new situation,it is of great research value and practical significance for Chinese banks to formulate reasonable internationalization strategies and improve their competitiveness in order to help China’s sustained and high-quality economic development.Based on one belt,one road,the paper studies the internationalization and competitiveness of Chinese banks.The main conclusions and innovative results are as follows:(1)The economic logic behind one belt,one road initiative is analyzed.It is a theoretical innovation and great practice of Marx’s regional economics,a new interpretation of international division of labor and cooperation,the optimization and upgrading of "comparative advantage theory",an important core of collaborative development theory,and the reconstruction of global industrial chain theory.(2)The PCA-DEA coupling analysis model is constructed to dynamically evaluate the competitiveness of banks with Malmquist total factor productivity,which avoids the problems of subjective error and insufficient interpretation effect.The results show that one year after the "one belt,one road" proposal,the competitiveness of the sample banks is significantly higher than that of the sample foreign banks,and the number of Chinese state-owned banks is much larger than that of the Chinese joint-stock banks.(3)Through panel data regression,it is verified that the internationalization index has an obvious positive role in promoting the competitiveness of banks.The endogeneity between control variables is further solved by PSM-DID model.The results show that the internationalization index has a positive effect on the competitiveness of Chinese banks.The placebo test proved one of the main reasons one was the "one belt,one road" initiative.(4)Under the background of "one belt and one road",China’s foreign investment cooperation has been deepened,foreign trade cooperation has been strengthened continuously,and foreign project cooperation has made positive progress.Chinese enterprises’ "going out" process continues to accelerate,and Chinese banks have a good outward development macro policy support under the background of "one belt and one road".(5)Under the background of "one belt and one road",Chinese banks play an important role in the construction of "five links".Only by solving the problem of financing and giving full play to the function of Finance in the allocation of resources,can we fully realize the construction of interconnection and promote the common economic development of China and countries along the line.(6)On the basis of summarizing the international development mode of banking industry in developed countries,this paper puts forward some thoughts on the "China mode" of banking internationalization.It points out that under the background of "The Belt and Road Initiative" and "Dual circulation",Chinese banks should adopt the international development mode of combining government promotion and market guidance,based on the domestic market,innovate supply chain finance,support the circulation stability and optimization of industrial chain,and give full play to the resource allocation and financial promotion role of banks in the domestic and international markets.