Research On Credit Product Innovation Strategies Of Bank X For Small And Micro Enterprises

With the increasing advance of the marketization reform,small and micro enterprises are emerging as a new force,occupying a very important role in the national economy.Small and micro enterprises are characterized with being numerous,widely distributed,having a wide range of variety and being relatively active.They have an irreplaceable role in adjusting and integrating the industrial structure,promoting employment,pushing forward the reform process of urbanization and other aspects,which have made important contributions to the development of the national economy.The 18th National Congress of the CPC has explicitly proposed to exert great efforts to develop small and micro enterprises.The two sessions of this year also mentioned to take measures to reduce the operating costs of small and micro enterprises and improve the preferential tax rate.However,domestic small and micro enterprises have been faced with financing difficulties for a long term,and the lack of external finance has caused limitations for small and micro enterprises to grow rapidly.At the same time,along with the jumping increase of the number of commercial banks and the rise of the Internet financial companies,commercial banks are facing an increasingly fierce marketing competition.Small and micro enterprises,which have huge potentials for development,have gradually become the snatching targets for commercial banks.However,it's hard for the existing traditional credit products to meet the financing needs of small and micro enterprises.Therefore,it is essential for commercial banks to launch innovations immediately against credit products for small and micro enterprises.This paper has taken X Bank as an example to have a detailed research on commercial banksinnovations against the credits products for small and micro enterprises.Based on the theory exited,such as market segmentation,cycle of the firm,relationship lending,information asymmetry and credit rationing,this paper systematically analyzes the situation of credit products,using literature analysis method and empirical reference method.After that,,the paper has a detail analysis and evaluation of the environment which the X Bank has to face.Based on the result,the paper find that X Bank still has some disadvantages on serving for client,self-innovation and designing of business process.The paper provides some advice and suggestions for X Bank innovations against the credits products for small and microenteiprises.Relying on establishment of scientific concept of innovation,diversificationof assurance,enhancement ofproduct pricing,a clear market positioning,simplification of the business process and strengthen the cooperation with the third part,the paper consider that X Bank can be successful on small micro-enterprise credit product innovation.