Research On The Financial Product Innovation Of Commercial Bank In China

Along with the openness of finance industry, the business range of foreign bank gradually extends. Its abundant experience, flexible system and modern management become serious challenge, making financial competition more drastic. The only way commercial bank of our country can do is to treat product innovation as the soul of industry development, so that they can win in the competition.In case that the innovational ability of our commercial bank is poor, constituting rational countermeasures to increase innovation is useful to exert the advantage of core product to expand market share and strengthen international competitive ability. What's more, increasing innovation can promote multiplicity of bank products to strengthen the ability of resisting risk, which act positive influence on stable and healthy development of bank industry.On the basis of explaining the meaning and modes of financial product innovation of commercial bank, this paper will research the innovation actuality meanwhile point out existing problems of innovation and common mistakes in practice. Moreover it will find out the main reasons for difference of domestic and foreign innovation to learn successful experience from foreign commercial banks by comparing the two. At last, based on some innovation principles, this paper puts forward various countermeasures.This paper insists that exerting an integrated system of policy can increase product innovational ability of our commercial bank. Concretely, it should insist people oriented management idea on conception, perfect governance frame of company on institution, exert strategy of otherness, brand and section on strategy, positively adopt the freshest technology on technological innovation, actively adopt cycle fast mode of bank product innovation and analyze the cost effect of new product on product exploitation, centralize the needs of consumer and optimize industry flow on organization framework, at last strengthen monitor management of commercial bank to insure development of product innovation in the stable path on management.