Research On The Development Strategy Of Wenzhou Financial Investment Group Co.,Ltd.

Financial Holding Group, since its appearance,has been widely favored as an organization form of the financial industry to achieve comprehensive operation. In recent years, a boom that local governments integrate financial resources to lead setting up the financial holding group has been appeared nationally. The main operation mode is that based on one or more provincial economic regions, a state-owned or private enterprise,which owns advantage in capital operation, holds controlling interest and invest in more than one financial institutions to form financial groups. In the background of endeavor to of pushing forward the construction of experimental area of comprehensive financial reform in July 2012, Wenzhou government reformed Wenzhou City State-owned Investment Group Ltd. to establish Wenzhou Financial Investment Group Ltd.(WFIG). WFIG serves as a state-owned enterprise of local financial properties and undertakes specific tasks of financial reform in Wenzhou. However, problems emerge in WFIG. At the beginning of setting up, the group's three main business sectors which cover manufacturing, construction and finance can't be integrated fully. At the same time, the group is not clear in the industry layout and function orientation and is difficult to establish a new profit model to realize their own development and the platform for the financial reform project. Therefore, researches on the development strategy of WFIG can solve the problem of the development of Wenzhou's financial investment and is beneficial to the realization and promotion of the research results of Wenzhou financial comprehensive reform.This paper uses theories such as enterprise strategy management and financial enterprise management to form the theoretical foundation.Secondly, combining the requirement of the comprehensive financial reform and the present situation of WFIG, the paper conducts analysis of SWOT to analyze internal and external environment of the group and the opportunities and threaten confronted. Finally, it carries out further study on the formulation and implementation of SWOT's future developing strategy.Through analysis,this paper clarifies the strategic task of WFIG which is to forge WFIG into a local financial holding group of comprehensive competing advantage,complete financial serving platform and financial industry chain and further clarifies its strategic position and route choice. It also carries out a strategy implementation project based on three supporting measures of financial elements integration and optimization, emphasis on financial investment direction and update, transfer and equipment of an enterprise. Lastly, supporting measures of WFIG development strategies are raised from four aspects such as persistence to steady management tactics,establishment of an effective risk monitoring mechanism,building of a consumate customer information system and construction of a modern talents strategy.