China Postal Savings Business Model Research

Postal department manages universal service business, and also manages competitiveness business; As we know, universal service business brings a great policy loss to postal department. In 1999, postal department and telecommunications department divided into two independent entities, government gave postal department a policy called" 8531" .That was from 1999 to 2003, the government had to offer subsidy 8 billions Yuan, 5 billions Yuan, 3 billions Yuan and 1 billion Yuan to postal department every year respectively. Till the year of 2003 this policy had already "thorough weaned ", but the compensation mechanism of afterward universal service has not yet established, for a long period, postal department always relies on postal saving business mainly offering a huge recessive subsidy for postal system.Until July 31, 2003, the government did not adjust the deposit policy of interest rate, postal department had the postal saving balance of eight hundreds and forty billions to store in the central bank. In terms of current rate of 4.131%, the central bank will pay postal service 34,700,000,000 Yuan every year. This brings great pressure to central finance. Presently the income of postal saving have taken the more than 50% of postal total income, some regions even go to more than 90% (such as county seat shangdu in wu lan chu bu), so it is easy to draw a conclusion that once postal saving divides from postal big net and does not take any measures of compensate, postal business network sites will collapse immediately, and made the mixing management of situation caused present postal service and postal saving.In our country, the mixing management of finance field does not allowed, in 1999, the State Council and people's bank had already approved to set up postal savings bank, but for many various reasons, it could not be established up to now. In 2004, Premier wen jia bao pointed out in the working report, "postal system reform should be pushed actively forward ". So what postal saving future is has become the focus of expert and scholar discussing. Through looking back development history of the postal saving, this paper attempts to analyze, explore the development, orientation and the relative reform of postal mechanisms. At last the paper seeks a development road according with the postal saving of Chinese characteristic.