Research On The Impact Of Internet Finance On The Intermediate Business Of Chinese Commercial Banks

Internet finance is a new form of finance that emerged in the “Internet+” era.Its development has not only attracted wide attention from all walks of life,but has also attracted attention and support from the state policy level.Commercial banks have played a central role in Chinese economic development and have accumulated huge advantages in industries,talents,experience,and scale.They have stored “big data”related to the financial industry and are fully equipped with the advantages of financial reform and innovation,but they are relatively in recent years,the rapid development of Internet finance,commercial banks in this area lags behind in innovation,and its traditional business is constantly being squeezed by the Internet finance industry.Commercial banks are unlikely to become “financial viewers”??in the “Internet+” era.Therefore,it is of great theoretical and practical significance to analyze and research the innovation and upgrading of existing business forms of commercial banks under the “Internet+” background.This paper starts with the emergence and development of Chinese Internet finance,and conducts a comparative study with the development of the traditional intermediary business of Chinese commercial banks.It analyzes the mechanism of the impact of Internet finance on the intermediary business of commercial banks and combines the development status of existing financial markets.Internet money funds have had a certain influence on the intermediary business of commercial banks in the aspect of diverting bank customers and diverting bank agents from managing financial services;P2P network lending has not only made it possible for banks to bypass the direct financing of banks to cause disintermediation of commercial bank funds but also increased the funds of both parties.Part of the intermediary business income of commercial banks,because the depository of P2 P funds is a commercial bank;Third-party payment directly weakens the payment intermediary function of commercial banks,but it also improves the ability of commercial banks to develop their bank card business.In the empirical analysis,the core explanatory variables of the study wereselected from Internet finance: Internet money funds,P2 P network lending,third-party payment,and three types of Internet finance.The explained variable adopts the data of the 15 listed commercial banks from the first quarter of 2013 to the third quarter of 2017.A fixed panel model was used for empirical analysis of commercial banks of different natures.The research shows that the Internet Monetary Fund has a negative impact on the intermediary business of all sample commercial banks.The analysis of banks of different natures is not very significant when it is analyzed.This may be related to the small amount of Internet money that is purchased each time the customer subscribes and the small change in the size of the internet money fund;P2P network lending is a The bank's intermediary business income has a certain positive impact,which is related to the customer's P2 P network loan funds being escrowed in commercial banks;third-party payment has a more significant negative impact on the income of Chinese commercial banks' intermediary businesses,among which the impact on city commercial banks is most obvious.The joint-stock commercial banks have a greater impact,indicating that the third-party payment weakens the commercial banks' payment of intermediary functions and squeezes the agency commissioned business of commercial banks.This leads to the suggestion that commercial banks should give full play to their advantages in scale,capital,technology,and experience,actively use the opportunities in the development of Internet finance to transform and upgrade traditional business and management models,and dare to explore financial innovations in the era of inclusive finance and effectively avoid them.Risk,promote and guide the innovative development of Internet finance.