Research On The Development Path Of China`s Commercial Banks Under The New Normal State Of Economy

Under the New Normal state of economy, ten years` golden age of fast-expanding would be no more for commercial banks now, with numerous challenges awaited. Encumbered by tough economy, the situation has become deteriorated with slow expansion, blocked business, gliding profits and higher risks. Therefore, commercial banks, with predominance in China`s financial system, may have to embrace the reshuffle of the industry. Indeed, It is a mission for them to become pillars and to pursue sustainable development.Based on their development process, in retrospect, this article analyses the chances and challenges derived from the New Normal and focuses on the substance of the New Normal, the situation of bank industry and the achievements of further systemically financial innovation. Apparently, is it striking to see such intense competition with various financial institutions under the circumstance of financial innovation, improved system and guiding policy. Then, on the basis, this article summarizes the path which banks may choose, namely the implementation of integrated, differentiated, prudent and international strategy. Eventually, the vital development strategy is clear: update management idea, switch profit model, drive business innovation, strengthen risk management and deploy global strategies.This research argues that, the conventional mode of extensive development, which signifies expansion, must be replaced by the mode of intensive one at their earliest convenience. Literally, commercial banks should take the chances and challenges in good part, under the state of New Normal. On the other hand, they should sustain sound development by the process of strategy execution, business transformation, internal control updating and basic work emphasizing.