The Analysis Of Strategy In Overseas Market Of Bank Of China

Since China’s reform and opening up, Chinese banking industry is developing rapidly. Meanwhile, as the advancement of economic globalization and financial integration, under the background of China’s comprehensive strength’s enhancement, commercial banks in China have started to develop overseas business and expand overseas markets, development of overseas banks have already become one of the important strategies of the development of commercial banks. Since China’s accession to the WTO in2001, the degree of Chinese market’s openness has greatly deepened, which symbolizes the approach to the market’s complete opening up. Under such a broad backdrop, this article is dedicated to conduct an in-depth analysis on Bank of China’s present situation and problems of the overseas development. Besides, with the combination of personal working experience as well as collection and sorting of related documents, it will focus on analysis of Bank of China’s competitiveness in overseas development, aiming to seek and explore the important strategic countermeasures of Bank of China’s overseas development in order to bring up some insights for references and suggestions on the sustainable development of overseas business and Bank of China’s becoming a large multinational banking group.Firstly, combining with the status quo at home and abroad, this paper expounds the research background, significance and research methods, determines the importance of research subject, and briefly describes the framework and the main content of this article. Secondly, by collecting and summarizing a vast amount of literature, the author sketches the connotation of Bank of China’s overseas development and related theory, providing certain theoretical basis for overseas development strategy of Bank of China in the next phase. The third part is mainly about the analysis on the present situation of Bank of China’s overseas development. The author sums up some existing problems which have occurred in the process of development of overseas business at current stage, such as unreasonable layouts of overseas institutions, lagging management idea and innovation ability compared with some large international banks, improvements of banking personnel’s qualities and etc. The fourth part is by analyzing the external and internal environment, it is concluded that opportunities of overseas business development and challenges that Bank of China will face and existing strengths and weaknesses. The fifth part is with the consideration of Bank of China’s overseas development present situation, to summarize its strategic positioning with the regard of the internationalized development of clienteles, business, organization, employee, determine that the future strategic goal should be to integrate the allocation of resources, expand the global network layout, build the integrated service system, optimize products’categories and innovation, enhance core competitiveness to endeavor to elevate Bank of China into a first-class large multinational bank. Finally, according to the previous analysis and the summary, the paper proposes that to achieve the goal of sustainable development of overseas business and becoming a multinational commercial bank, Bank of China is ought to improve the global layout and management, transform development mode from self-building to mergers and acquisitions, carry out targeted strategies to set up overseas institutions, strengthen the work efficiencies of the establishment and expansion of foreign subsidiaries or branches, develop some new overseas business, continue to enhance the capabilities of product innovation, ameliorate the enterprise culture management, personnel training and other aspects, enhance core competitiveness. This paper would be a significant reference for Bank of China’s development of overseas business and enhancement of the calibers of international competition.