Research On International Settlement Process Redesign For China Construction Bank Heilongjiang Branch

According to the entry agreement for WTO, China will revoke both of thedistrict and customer restrictions for foreign-funded banks to operate RMB business.Then, foreign banks may generally enjoy the national treatment, which may cause ourcommercial banks to be directly confronted with all-round impacts from their foreigncounterparts in respect of markets, customers, talents and etc. Especially inaccordance with the regulations of newly published “Foreign Trade Law”, naturalpersons can engage in foreign trade activities, which may bring numerous room forsettlement development in banks. Facing with the challenges and opportunities, fromthe point of strategic development, Chinese commercial banks should change theiroperating logos, establish the working model centered around customers, introduceand implement the reengineering project. Under the circumstances of this background,Chinese banks should reshape the management system so as to make them moreeffective, flexible, competitive and innovative to adapt to the sustainabledevelopment.Bank reengineering theory stems from the USA in1990s, which is theapplication and development of enterprises reengineering theory utilized in banks. Flow reengineering for international settlement in commercial banks deals not onlywith the business itself but also with the systemic project concerned with banks’operating logos, organization frame, IT, financial innovations, etc. In this paper,commencing from analyzing the motive for flow reengineering, the author adopts themethod of theory combined with practice to analyze the general reengineeringtheories, principles and the practice carried out by Heilongjiang Branch, Bank ofChina.