Research On Competitive Strategy Of CCCB Under The Background Of The Internet Finance

With the transformation of China’s economy from a high-speed growth stage to a high-quality development stage,as the main force for revitalizing strategies and developing inclusive finance,most rural credit cooperatives,with the implementation of the restructuring,have been transformed into rural commercial banks.These rural commercial banks have also inherited an important part of doing a good job of "agriculture,rural areas and farmers" in the new days.In recent years,with the implementation of a larger,wider and deeper comprehensive opening-up,the internationalization of the RMB has been steadily promoted.Implement the rural revitalization plan,improve the "three rural" priority development strategy and guarantee the security of domestic food strategy,and improve the institutional requirements for the integration of urban and rural development systems and mechanisms both have been significantly improved.However,other small and medium-sized financial institutions in the banking industry have entered the traditional advantage areas in rural commercial banks from various business areas.With the relatively new financial products brought by these new institutions,they can provide personalized services and other strategies to further seize the market.They gradually weakened the core competitiveness of rural commercial banks.At the same time,with the advent of the 5G era,the rapid development of Internet finance has caused a huge impact on traditional financial institutions.Internet finance with low cost,more convenient services,and diversified profit models has created major challenges for traditional financial institutions.Therefore,take Changchun Rural Commercial Bank for example,in order to develop healthily and sustainably,it is necessary to study and formulate the competition strategy of Changchun Rural Commercial Bank in the background of Internet finance.Through research and analysis,it is to help Changchun Rural Commercial Bank to provide corresponding reference when formulating the competition strategy.First,this article describes the research significance and background of the competition strategy of Changchun Rural Commercial Bank in the background of Internet finance.Secondly,through introducing the development of Changchun Rural Commercial Bank in these years,from the competition situation in the context of Internet finance,the current situation facing the bank is analyzed,and the problems existing in it are pointed out,including the lower sustainable profitability,the lower growth of deposit and loan scale,and technological support is relatively backward.It also analyzes and clarifies the reasons for these problems,that is,the lack of thinking and concepts of Internet finance,the failure of personnel quality and scientific and technological level to meet the requirements of the times,and the unreasonable organization framework.Then,using the PEST analysis method,from the four aspects of politics,economy,society and technology,the environment of Changchun Rural Commercial Bank is analyzed.At present,there are not only favorable policies such as the core area of innovation and transformation in Jilin Province and the acceleration of the construction of Northeast Asia’s regional central cities,but also unfavorable factors such as Internet finance seizing the market and customers’ more diversified business needs.Using Porter’s Five Forces Model,research and analyze the industry environment of Changchun Rural Commercial Bank through five aspects: potential competitor threats,substitute threats,competition with the industry,wealth management,bargaining power of deposit customers and bargaining power of loan customers status quo.From the bank’s financial data,risk management,analysis of existing financial products and personnel quality,the internal environment of Changchun Rural Commercial Bank was described.Based on the above research and analysis of the bank’s internal and external environment,and the analysis of the advantages and disadvantages,opportunities,and threats of the SWOT Analysis,the four competitive strategies of Changchun Rural Commercial Bank were studied.Finally,based on the above research analysis,it is suggested that the goal of Changchun Rural Commercial Bank’s competitive strategy in the background of Internet finance is a differentiated competitive strategy.While selecting a competitive strategy,the specific implementation method was determined,as well as four aspects: organizational structure,finance,human resources,and risk management and control are the strategic guarantee measures required by the bank to ensure the successful implementation of the differentiated competitive strategy.