Smoke of the global financial crisis is not over, the global low carbon economy revolution hit in the face of unprecedented opportunities and challenges, China's financial industry have raised the banner of scientific development, help green China's economic development. By the China Financial Network, the China Institute of Finance, the United CCTV co-sponsored the is: br> am very pleased to once again come to participate in this meeting, I have encountered in the outside media, they still remember, the fifth in the last year, I had predicted the annual meeting of experts in the real estate market bottom is forming, then the real estate market is large up. So today I will say a few words aside, have also talked about real estate, I still want to talk about my point of view, the central regulation and control now, I think real estate is now the end of the formation of a breakthrough Although many real estate developers and bankers do not believe this problem, if talk about ideas, I would like to say this, because the core issue of China's real estate is too large gap between rich and poor reflection of the real estate in China has to some extent from the real estate investment, speculative relatively high proportion, and we want to curb the market will have to get a good starting point, must take the real estate investment and consumer demand separated from, and now the central government in according to this line go. China is now an increase in household wealth so quickly, the rich so much, if only to increase supply, build a house more curb real estate prices, I'm afraid the house will not work more than the number built, because the Chinese people like to put the wealth maintain real estate. Now look, on the one hand to tighten bank lending, on the other hand may also be introduced as the next property tax, property tax over the house as a second home and operating the house as to tax, this block needs blocked, the real estate industry there may be regression of the trend. Of course, I only worry is that our determination is not enough, because this involves the interests of local government, the banks financing to local governments cover so much room, if the real estate industry is very powerful to suppress it, the local government can not sell the land, what means the banks loans? so there will be a balance, but a balanced outcome, I think the real estate market is bound to be bound to return tone.
back today's theme, and Dr. Wang Jun together last year I had a very in-depth discussion, I remember that last year Dr. Wang Jun firms presented on the city renamed the thing, I remember, but later found the city firm changed its name, or a good thing. this really small and medium banks and at a new development environment, and above all, small and medium sized banks that would like to point some of my general understanding. medium SME Bank is the banking industry, because With its presence, making the entire banking sector more flexible, more flexibility, we speak of China's private enterprises, since their development, only to China's entire economic system more flexible. At the same time, small and medium banks in the banking system as a whole also play a role in this, the role is very great.
addition, from the small and medium banks, especially city commercial banks in the process of development, we should say is a very difficult process, we know that when China's large state-owned banks are with the help of the State, of course, President Yang just too big to fail also mentioned the problem in China is not only too big to fail, a large order to obtain review of the government more resources. I went to a City firm of view, how each bank increase their investment, how attractive to invest, how indigestion loans are racking their brains, it should be said entirely on their own efforts, it is very difficult for one thing, it should be said that the development of this situation today, I think is quite encouraging. President Young also introduced earlier, the total assets of urban commercial banks accounted for seven percent of the entire banking industry a few, from the proportion of assets does not seem too high, but we also note that firms in the City about the overall loans for more than a third of the loans put into the small and medium enterprises, in which one-third invested in loans to SMEs, but also half of the loans are invested in small micro-enterprises, so this contribution to the economy is very large.
the operation of city commercial I saw the figures of 2009, probably the whole city commercial non-performing loan rate is around 1.5% is very low, while its capital adequacy rate is 12.96%, provision into coverage more than 1.8%, the overall operation of city commercial should say that the business is still very strong point of view, from a variety of indicators. really now on the future development of businesses in the city, including other small and medium banks, because there are some rural commercial banks, rural cooperative banks are also considered, and now proposed to be differentiated, characteristic of the development, the pursuit of differentiation, characteristic of the way, if you look closely will find that City firms are already beginning to emerge is strong differentiation, like Bank of Beijing and other joint-stock banks not too bad, and there are a number of city commercial banks operating mainly in the region, showing a stronger regional characteristics. There are a number of City firms in the professional financial services, professional financial products is better done. In my view, we saw some of the surface has been presented to differentiate, if we talk about the future development of city commercial banks, should continue to reflect the character, differences in the development of roads, or to find the core competitiveness. including Young President, I also agree about the outside world may have a set of evaluation criteria banks, people will look outside the bank may come towards the bank is not the direction of large-scale, because in the eyes of the people, the banks will be high visibility of larger scale, the money in here to ease my heart, there may be such an evaluation. but the bank is a professional organization and its core is also not many people outside evaluation, this is important, but because you are a professional organization, is to pass to get your core competencies higher than other similar institutions the ability of reputation, you should dry the thing is the thing . If we stand up to this problem on this basis, the firm no matter which direction the city go towards the joint-stock commercial bank to go Ye Hao, Ye Hao toward the direction of community banks, provide more professional services towards the direction to go Ye Hao The key to find your core competencies. moving in this road, you're also in this road than the other banks have more ways to more products and better mode of operation, so you can went to the front, and if so, I think it should be possible.
course, if the firm about the city, and we look through the observation, at least it is compared with other banking institutions has its advantages, from the advantage point of view, I personally think that first of it as a separate legal entity, its business decision-making chain is relatively short, unlike other state-owned banks, making the chain to go through to get to the conduction forty-five operators, and city commercial decision-making chain is very short In operating in the region does have a strong competitive edge. The second advantage is its geographical advantage is obvious, more abundant sources of funding, the visibility in the region is very high, service is also welcomed by the public. The third advantage is and broad network coverage, relatively high penetration. Of course with this advantage after its ability to access information over relatively strong, what is the excess of information? is soft information. because large state-owned banks are also facing choices in the future as the financial industry disintermediation growing, in terms of the big banks are also facing upward, or walk down the choice to go, when your major customers continue to reduce the time, the first is to go towards the trading business, trading towards the financial the direction of derivatives, which is out of the financial crisis is important. Now it seems, as we city commercial network in the region is very high penetration rate, with the customer, very close relationship between the public, so the access to soft information indeed a stronger ability. So it is small and medium enterprises, to provide the public service compared with other financial institutions do have a very big advantage. Through our analysis, I want to say big City firms want to do regardless of future Ye Hao, Ye Hao want strong, other things can be in the range of your ability to do, but the underlying fundamentals are not lost, that is very important to your business advantage is not lost.
We also noted that, because City firm to do a very large number of small customers, as academics we should call, from the national bank operating in the external environment, should give the city a better tax environment for businesses and the regulatory environment, I personally think it is this necessary to mention. First, we note that China Banking Regulatory Commission this year, including the central bank credit growth to the China Banking Regulatory Commission set about 7.5 trillion, an increase of 17% -18%, give us the growth rate of city commercial setting than the other two types of state-owned banks and joint-stock Bank High, the city's future lending firms can increment 20% higher than in several other institutions, the regulatory body to the extent permitted stronger than other banks. this view the future of city commercial loan growth will be higher, so that from a regulatory point of view should City, the capital adequacy of the management firm has a flexible approach. Why do we say to the city commercial high? because the city commercial on the local development, especially SMEs, their contribution in this respect more, with this is relations. appropriate, in regulation, for example, the threshold in the capital adequacy ratio and capital adequacy calculations, its risk weighted assets, I believe it is appropriate to have some more flexible policies. Secondly, from a tax point of view, the behavior of city business services for SMEs, and SME loan risk is clearly higher, for example, the banking sector is now 15% of revenue sales tax, income tax 25%, Can be classified according to the business, such as SME loans under amount to a separate calculation to reduce the number of business tax, lower business tax, the income tax rate can be reduced, I think that we should be leading the government and relevant departments of the appeal because, after all, from the future perspective of the development, SME development is the Chinese economy more important.
final say is that for the future development of city commercial point of view there are two more important aspects, one is to further optimize the corporate governance structure, or internal management, the system construction, this is indeed very important. because in China more than I go to the bank, there is a deep feeling of the most difficult when the Chinese bankers, some people do not bankers said China, you can say no bankers because the bankers though China Official and business, on the one hand, including state-owned banks, president, chairman of the board are from the local government, appointed by the government, in this case to keep your official post, to be in your position can be done down First, and the Government Relations Department was very good. On the other hand, they have to put banks do a good job, how innovation and development of products, this analysis is very important. I have heard Dr. Wang Jun's speech, I think he has a point of view, as a banker, must make the decision basically to deal with your official positions of the factors, along with their lowest cost down, make sure you dry in this position, and then to focus more on how to develop business innovation , in China can do is the best banker. I said the most difficult when China's bankers is because of this, Western bankers are very simple, as long as the complex for shareholders to create return on it, but China targets multiple technology, but how in the wide range of goals and well balanced offense, the parameters of each target in China is not quite the same, may be engaged in a good bank and bad bank management is most important is not the same as in the parameters. So more effort is still on the banks, the improvement of corporate governance, and this is even more important.
City firm on the other hand is more important in terms of system construction, such as IT building, for example, today I told smaller national shareholding banks, a bank, a major shareholder with their meal, they also made a bank card, but only made a number of debit cards, why not open card or push this push does not go up? Or is this hardware support, system construction has not kept up. I think, IT or system construction firm does, indeed, the city restrict the development of a short board, also need to have input. As far as I know, the vast majority of city commercial banks have made a bank card, but now I am afraid that the bank card network just to do with the nature of the use of CUP, but in credit card issuance, customer credit management, hardware, or in a support system is now generally weak state of the construction of this piece I feel that the future development of city commercial banks is also very important.
Guo Tian Yong: just listening to Wang Jun said, I feel very deeply. I also reflect on a problem, I just talk about small and medium banks, including the tax issue, because the small Banks are more risk is relatively large, we mentioned the view that some tax subsidies to small and medium banks might make it on the support of SMEs in the future be more helpful, I think he did very reasonable.
in financial crisis, central bank governor Zhou Xiaochuan said some time ago now that the market for so many years, started from the eighties, said that for twenty years, and now the market is far from being achieved. We are now in the direction of financial reform , we should say the situation in a certain market, we raised this point again is even more convinced of that. the financial crisis, we say that the West is too market-oriented interest rates, banks too much competition, so in some businesses make less than money, so we began to engage in financial derivatives, resulting in a financial crisis. On the other hand, how to maintain the stability of the financial industry? the subtext had to let the banks can make money, and if the resulting large area of the China Banking problems that may impact on China's financial loans is relatively large.
premise of such an official after the financial crisis, we are summing up the lessons of the financial crisis, as if the interest rate can not be completely liberalized, the market can not technology, which is to maintain financial stability as a future condition, the trend now. Since in such an environment, small banks, large banks, all banks are operating on this platform, the state and hope that our small and medium sized banks to more small and medium enterprises to put their money, put into the farmers, put into the comparison-based industries mentally. big banks was a and large banks, but also requires us to put money into such areas go, I personally feel that in this macro context that we make certain tax concessions or request, or has its rationality. After all, from the national point of view In order to maintain financial stability, it does not advocate to promote the interest rate market is probably such a basic point. Of course, this is the status of China's banking sector, China's a lot of things, we talk about banking as a real economic agents, but also to some constraints, the Chinese always have a certain constraint.
then again I say a few differences to the issue. differentiated from business or from the homogenization of the point of view, if we go to the pursuit of commercial banks , to base large, we generally call this homogenization, if SMEs are to serve, say, like your customers do not have the services for SMEs, which is not also called homogeneity? I think this can not be called homogenization. If all services for SMEs, although on the surface are the same customers, but I think this is precisely the kind of difference. I would like to explain the homogenization of us to pursue large than the pursuit of large enterprises, where lending instruments loan tools are the same. I worked at years ago in a securities at that time I did not know what investment banking, investment banking is going every day, public relations, asked people to drink, this is called investment bank, because it is the main purpose the project is won, as prices do not even think what you can as long as the public relations on the line, this time to go all the brokerage firms are homogeneous, who can find a local officer, and can get our hands on the project is good. because China's stock market, a very large secondary market spread, as long as you can win the project, it is easy to release, you can make money. until now we look at foreign banks, I am afraid to take the project is not easy, why can get the project, the most important to have a customer base behind, and you have a relatively high pricing power, I am afraid this is the focus of competition.
returning to the banking example, large companies get big clients, the loan is very simple manner, and operating small and medium enterprises is indeed very strong to be differentiated, because the characteristics of SMEs in different regions vary, everyone in the City firm, I have heard of a situation, do not say which areas there is a area in Zhejiang City firm, in the local business was very good, but a cross-regional offices located on the bad, some non-performing loans. here's your long-term customer base operations here, the more information available, so you can do, go out After not be able to operate well. Therefore, SMEs should be reflected in the difference between customers of the range, to sort out such a concept. If you really want to do small and medium enterprises, it must adopt a more professional, more refinement mode of operation can be done. As the case in China, we are in the market, commercial banks do, you do small and medium businesses in the city is very large, the cost of investment is relatively large, compared to other large state-owned banks, relative to other large financial institutions, your piece of the operating costs will be higher, your risk will be even greater. of course, from the static point of view, requires the State to give more compensation, I think it has its rationality.
Finally, foreign banks into China from this point of view a few years, Citibank, HSBC bank entry into China before, in our mind is an outsize, and their popularity than the visibility of the Bank of China is even larger However, after entering the Chinese market share but smaller, decline in market share but, Why does this happen? banks of light that is a brand, we heard of this name is very familiar with, very friendly, if not also You can capture the market, the fundamental condition for access to customers, because when you specifically to do business, like playing cards as a license for one checkout, I made a client, put some loans, in order to make money. you known large enough to make you to easily access the market a lot of customers because every business, every product is about to be one stroke, one stroke to do. Conversely, including city commercial bank, you have listed, they began to set up inter-regional operators, the scale becomes extremely large, you might think that my business is not there a reaction is very large, because my brand Well, I think, not necessarily, the key core competencies should be real, real to the customer service when you can make customers feel more than any other bank services capabilities, this is what your core. In fact, big brands, Of course, you must start small combination of service capabilities, which have a time when the value of the brand.
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