Thoughts on the Development Plan of Commercial Banks in the Tenth Five-Year Plan

Recently, the Bank of China issued the "14th Five-Year Plan". The plan emphasizes that China Bank adheres to the "14th Five-Year Plan" as the blueprint, bases itself on the new stage of development, implements the new development concept, serves to build a new development pattern, consciously shoulders the mission of "integrating into the world and benefiting the society", accelerates the construction of a "one body and two wings" strategic development pattern with domestic commercial banks as the main body and globalization as the wings, and strives to build a world-class modern banking group.

The plan focuses on serving the real economy, increasing support for key areas and weak links of the economy, focusing on technology and finance, green finance, inclusive finance, cross-border finance, consumer finance, wealth finance, supply chain finance and county finance, cultivating new kinetic energy, serving new formats and creating new models.

Planning keeps pace with the times, deeply integrates into the construction process of digital China, and accelerates the comprehensive digital transformation of China Bank Group. Deepen the application of big data, cloud computing, artificial intelligence, blockchain, 5G mobile communication and other technologies. Based on the two major projects of enterprise-level architecture construction and data governance, we will highlight the two characteristics of "one body and two wings" and open financial ecosystem, profoundly change our business philosophy, and focus on the five capacity-building of comprehensive improvement of customer experience, open access to products and services, integration and optimization of business processes, intelligent and efficient management of risk control, and burden reduction and empowerment of institutional employees to promote the implementation of the plan.

The plan proposes to identify the positioning and comparative advantages of China Bank Group in the domestic big cycle and double cycle at home and abroad, and link the development of domestic commercial banks with the optimization of regional economic layout and the formation of a strong domestic market. Further highlight the characteristics of globalization and integration of the group, and connect the global financial market with the domestic multi-level capital market. With the global response and comprehensive service of "one body and two wings", it helps to smooth the domestic big cycle and the domestic and international double cycle.