Analysis On The Motivations And Economic Effects Of China's Undertaking Financial Back-office Services Outsourcing

Financial back-office services outsourcing is a mode of operation,which refers to the banks, the insurance companies, the securities companies and other financial institutions transfer some of their back-office operations to the outsourcing service provider to handle, with high added value, high-tech, high employment and other features. In recent years, with the development of economic globalization and information technology, the international industrial transfer-based services outsourcing industry is accelerating, and financial back-office services outsourcing constitutes a major part in the services outsourcing industry, which shows a trend of accelerated development in the global services outsourcing wave. In the face of the opportunities of this new round of international industrial transfer, undertaking financial back-office services outsourcing strongly is helpful to the change of China's foreign trade growth pattern, as well as the optimization and upgrade of industrial structure, which has great practical significance and strategic significance for China's economic development.Firstly, the paper discusses the connotation of financial back-office services outsourcing, which introduces the financial back-office business and it's operation models, the definition of financial back-office services outsourcing, the contents of financial back-office services outsourcing business respectively. Secondly, the paper analyses the present development situation of China's financial back-office services outsourcing from the employer and the undertaker angles. Then, this paper carries out the motivation analysis from three angles:China has competitive advantages to undertake financial services offshore outsourcing; China has a vast domestic market; China needs to speed up the development of service industry and changes industrial structural. The paper points out that the financial back-office services outsourcing industry in China developed rapidly, which has great potential, but still in the primary stage, and need to be further development.Since then, the paper carries out the analysis of economic effects. In theory, the paper learns from the past research results, points out that undertaking financial back-office services outsourcing can bring employment effect, technological spillovers effect and industrial structure optimization effect. Based on the theory research result, the paper adopts the time-series data between 2002 and 2009 years, and builds a linear regression model with Eviews5.0 software to examine the economic effects situation of undertaking the financial back-office services outsourcing respectively. Eventually, it gets an affirmative conclusion, and confirms that the financial back-office services outsourcing exists employment effect, technological spillovers effect and industrial structure optimization effect.Finally, based on the results of previous theoretical research and empirical analysis, the paper puts forward the following policy recommendations for reference:One is to speed up the development of financial industry and increase government's policy support to the financial services outsourcing suppliers; second, to strengthen efforts to bring financial service outsourcing talents and build a complete talent training system; three is to improve financial services outsourcing industry organizations, and strengthen intellectual property protection; Fourth, to formulate the construction of each city's financial back-office services center reasonably and accelerate industrial agglomeration and industrial chain integration.In a word, Combined with the past research results and the present development situation of China's financial back-office services outsourcing, the paper analyzes and discusses the motivations and the economic effects of China to develop financial back-office services outsourcing, and puts forward relevant policy recommendations, which uses the research methods of theoretical analysis and empirical analysis. Meanwhile, based on the past research results, the paper selects financial back-office services outsourcing as the specific research object, and analyses the motivations of developing financial back-office services outsourcing from the angle of undertaker, which also has some innovation.