Research On The Competitive Strategy Of International Settlement Business Of Bank Of China Inner Mongolia Branch

In recent years,the deepening implementation of the national "One Belt And One Road" and opening-up strategy has provided a rare opportunity and platform for the development of Inner Mongolia's import and export trade.According to the data,the total import and export volume of the customs of Inner Mongolia autonomous region reached 109.6 billion yuan in 2019,with a year-on-year growth of 6%,and the total regional trade value and freight volume showed a steady growth trend year by year.Under the specific policy background and market opportunities,international settlement business has been developing continuously,and meanwhile,the competition situation of international settlement business in the financial industry has become increasingly fierce.As a traditional foreign exchange bank,bank of China has unique advantages in international trade settlement.At the very beginning of its establishment,BOC Inner Mongolia branch started international settlement business,providing international settlement,trade financing and other services to import and export enterprises in the region.It has dealt with international settlement business for thousands of enterprises in Inner Mongolia and has been in a dominant position in the region for a long time.However,in recent years,with the changes in BOC's internal policies and external market environment,its international settlement business has suffered from the continuous loss of key settlement customers and the continuous decline of its international settlement market share.In the face of increasingly fierce horizontal competition,the development situation of its international settlement business is not optimistic.In order to maintain the dominant position of international settlement business,it is urgent to study and analyze the international settlement business of bank of China Inner Mongolia branch and explore its development strategy and competitive strategy.In this paper,using the method of data analysis,comparative analysis,from the Bank of China,Inner Mongolia international settlement department to change course,business development present situation,this paper analyzes the problems existing in the development of business,analysis of the macro economy and regional economic environment,compared to the bank of China branch of Inner Mongolia resources and ability condition,sums up the international settlement business development bank of China Inner Mongolia branch faces opportunity and challenge,advantage and disadvantage,using SWOT analysis method,it is concluded that the bank of China branch of Inner Mongolia international settlement business should go growing scale,product variety innovation,market expansion development strategy of expanding of dimensions,Compete differentiation focus on products,services,channels,and through the establishment of coordination,resource allocation,performance evaluation incentive various support measures,so as to promote improving the bank of China branch of Inner Mongolia international settlement business status quo,decline of market share,enhance competitiveness,cross-border settlement to maintain its international settlement business advantage.Based on the study of international settlement business strategy in this paper,the author hopes to provide prospective strategic guidance for the development of international settlement business of bank of China Inner Mongolia branch,and clarify the direction and focus of its business development.At the same time,it also provides guidance and direction for the development of local inter-bank international settlement business,which is of great significance to the development of inter-bank financial and international settlement industry in the long run.