Study On The Efficiency Of Chinese Commercial Banks In The Process Of Interest Rate Marketization

On October 24,2015,the central bank announced that it would no longer set the floating rate ceiling on commercial banks and rural cooperative financial institutions,which marked a key step in the market-oriented reform of interest rates over the past few decades.In this regard,the People's Bank of China Governor Zhou Xiaochuan said,"China's interest rate market has been basically completed,the control of loan and deposit interest rate has been canceled,financial institutions have the right to independent pricing of interest rate." But this does not mean that the interest rate is fully market-oriented,interest rate reform still has a lot of follow-up tasks,interest rate formation mechanism still need constantly running,gradually improving,and passing the market test.In the new stage of interest rate reform,Is the bank that operates the currency affected by market-oriented interest rate reform? What's the effect? Therefore,this paper mainly studies the changes in the efficiency of commercial banks in the process of monetary price reform.Firstly,based on the literature review and theory study,this paper qualitatively analyzes the impact of market-oriented interest rate reform on the efficiency of commercial banks,and discusses the impact of interest rate marketization on bank efficiency in both positive and negative aspects.Secondly,it quantitatively studies the change and influence of the efficiency of commercial banks in the interest rate marketization reform.This paper chooses 16 commercial banks as the research object and extracts the relevant data from 2006 to 2015.In the foundation of using DEA-Malmquist model to measure commercial bank efficiency and AHP method to build the market index of interest rate,the regression model analyzes the extent and difference of interest rate marketization on the efficiency of commercial banks.Finally,combined with the theoretical analysis and empirical conclusions,the paper sums up the changes in the efficiency of commercial banks in the process of interest rates marketization,and gives targeted recommendations.This paper draws the following conclusions: first,in the stage of interest rate market accelerated to the end,the overall efficiency of China's banking industry has been improved,the interest rate marketization promotes the efficiency of joint-stock commercial banks more than state-owned commercial banks.Second,the efficiency growth rate of state-owned commercial banks is slightly higher than that of joint-stock commercial banks in 2006 ~ 2015.Third,the GDP growth rate,the proportion of non-interest income ratio and the profit-to-right ratio have a positive effect on the total factor productivity of China's commercial banks.The promotion of non interest income ratio to efficiency of state-owned commercial banks is stronger than that of joint-stock commercial banks.Fourth,the capital adequacy ratio has the opposite effect on the state-owned commercial banks and the joint-stock commercial banks,which hinders the efficiency of the state-owned commercial banks and promotes the efficiency of the joint-stock commercial banks.Fifth,bank loan ratio does not affect the efficiency of commercial banks.Based on the theoretical analysis and empirical results,this paper summarizes the characteristics of commercial banks and joint-stock commercial banks under the interest rate marketization,and gives some target suggestions.