Universal Banking: The Future Of China's Financial Sector Innovation And Choice

Although the Financial Integrated Operation (FIO) has been the general trend in the global financial field and Universal Banking prevails for long in many western developed countries, the Financial Segregated System (FSS) or FIO is yet a most disputed academic problem for China to deepen reform. If FIO is chosen, what kind of organizational mode should be selected as the mainstream of FIO with Chinese characteristics? Opinions vary without unanimous conclusion in domestic academia circles on these two problems mentioned above. The author selects "Universal Banking: future innovatory choice in Chinese finance" as the title of graduates' dissertation, trying to do my bit on these two problem.This paper aims at constructing a theoretic frame systematically to explain the rationality of the exist of "Universal Banking" and the advantages its development, and try to make a general_comprehensive evaluation on it. On this base, this paper brings forward the strategic assumption of developing Universal Banking that is suitable to Chinese national conditions. To follow such a logic idea, this paper includes following several parts:In the first part, i.e. introduction, the author introduces an outline of the researching background, the researching significance, the researching methods, the researching main thread, the point of innovation, etc.In the second part, the clear description on the origin and development of Universal Banking is done from the introduction of the phylogeny of FIO. The points of innovation in this part are that the two concepts between Universal Banking and FIO and between Universal Banking and financial holding company are clearly redefined, and the concepts easily confused with universal banking are distinguished and analyzed.In the third part, the theoretic base of developing Universal Banking is constructed systematically with the theories of several subjects; the restrictionwith developing Universal Banking is also analyzed objectively. The points of innovation in this part are that transaction cost analytical method, game theory analytical method, which are less adopted in the same kind of domestic researching problems, are introduced; meanwhile, the marketing theory and the human resources theory are also used for reference.In the fourth part, the theoretic base constructed above paragraphs is further extended into the theory superiority possessed by Universal Banking. The author tries, according to own thinking, to make a summing-up systematically from every theory superiority possessed by Universal Banking by the method of classification, and in combination with the national conditions by selecting typical cases to confirmation and analysis.In the fifth part, the disadvantages to Universal Banking, i.e. all kinds of possible financial risk, are systematically summed up, comprehensive evaluation on Universal Banking is completed, which is the main innovatory content to this problem. Next the key point of view of this dissertation, i.e. Universal Banking should be an innovatory choice but not a certain choice in China's future financial reform. At last is the summing-up of whole paper, strategic assumption is brought forward for developing Universal Banking that is suitable to Chinese national conditions.At last of this paper is the conclusion part. The author thinks that FIO should be the certain choice in China's future economic development, Universal Banking as the high-level phase of FIO should be an innovatory choice but not a certain choice in China's future financial reform, and financial holding company will be supplement to Universal Banking.