The Reserch Of Chinese Commercial Bank's Intermediary Business Innovation

Since the financial liberalization and financial innovation in 20 century 70's,the intermediate business of foreign commercial bank sprang up massively.After that,along with the development of financial market,IT and financial theory,spurred by transformation of supervising regulations,aggravation of market competition,and the progress of science and technology,the way of financing began changing.In the former the customers can only rely on the bank,but now may get funds under the help of non-bank financial institutions, through issuing large-scale bonds.The bank does not be the only financing medium in economic campaign.The appearances of commercial bills and bonds have seized the traditional credit market of the bank.For enterprises and personal customers,the bank does not be last loan person in financing campaign;instead they are the medium in the transition from credit asset to market standardization bond asset.Non-bank financial institutions begin to intervene in the original business field of commercial bank in large quantities.The financial supervision looking capital adequate rate as core makes the commercial bank develop low risk business vigorously.Financial competition forces commercial bank to accelerate product innovation,service innovation and technical innovation constantly,in order to strengthen comprehensive service ability.The environmental change causes the banks' financial asset proportion drops constantly, and the traditional bank financing market is gradually narrow.On the other hand,it also activates banks to expend scope of business,in order to enter other business fields,and to develop intermediate business as well as profit source.Since the 20 century 80's,the intermediate business of western commercial bank was developed with astonishing speed.No matter business amount and profit contribution had surpassed traditional deposit loan business.It had poured into huge vigor for commercial bank,and became new competitive core.The development of intermediate business of commercial bank of China has gone through two stages.From 1995 to 2000,it can be called deposit guiding stage.The purpose of developing intermediate business is mainly to defend customer relation and increase deposit. Correspondingly,intermediate business innovation mainly concentrates in the fields such as entrusted loan,debit and credit; after 2000,it transformed step by step to income guiding stage in order to guard against risk.The major purpose is to increase income. Correspondingly,the intermediate businesses with high profitability such as insurance agency,investment banking and asset trustship became the focal point of innovation.In several years,the intermediate business of commercial bank of China develops quickly, and has become the important field of business competition and innovation of commercial bank.In 2002,the incomes from intermediate business for Chinese commercial bank took the proportion of business income for 3.8%,furthermore,in 2003 it reached 5.63%,in 2004 it is approximately 8%.In the ten years between 1995 and 2004,the intermediate business incomes of the 4 state-owned commercial banks increased from 6,900,000,00G Yuan to 38,900,000,000 Yuan.The annual increase rate was 25.6%.Because of the influence of economic environment,laws and regulations,development strategy,credit foundation,tech and talent support,product development and management,marketing way, check award mechanism,internal price transfer system and non rational competition,compared with commercial banks of the western,the intermediate business of the commercial bank of our country have a lot of problems.The major embodiment is in the aspects such as business variant,service charge,business income, customer resource management,and the management of intermediate business,it has already seriously influenced the competitive ability of the commercial bank of China.The commercial banks of China should focus on the existed problems in intermediate business,and accelerates financial system reform according to the experience of foreign banks and current financial innovation theories.They should realize mixture run as soon as possible,and create condition for the intermediate business innovation of commercial bank.At the same time,they should establish the restraint and encouragement mechanism for intermediate business,speed up talent training andtechnical innovation,and increase the development of intermediate business. Furthermore they will raise the ability of developing intermediate business completely,and strengthen the international competitiveness.