To understand the mechanism of the Chinese
Economy and the reports released by the Chinese government, this series is
particularly designed for all readers who are willing to learn more about the
Chinese economy, identify risks and opportunities of markets in China, study
and research for your course about China, enhance your knowledge for a future
career, and obtain the important signal of China. This series will present key
financial terms that you must know before reading any official documents
released by the Chinese government.
Cross-financial
innovation (交叉金融创新)
Cross-financial
innovation refers to the cross-market and cross-business comprehensive
financial products developed by commercial banks in cooperation with trust,
venture capital, securities, and other institutions in order to expand the
profit channels and profit space, break through the existing laws and
regulations on separate operation, and its essence is the transitional
financial products of commercial banks' transformation to comprehensive
operation.
Cross-financial
innovation of commercial banks mainly integrates financial products and
businesses through the internal and external cross. Internal cross-financial
innovation refers to the comprehensive layout of commercial banks in banking,
securities, insurance, trust, and other fields by obtaining a variety of
financial business licenses, and opening up various financial sub-markets in
the form of banking groups, so as to realize cross-innovation of financial
products.
External cross-financial
innovation refers to the cross-market and cross-business financial
cross-innovation conducted by commercial banks through institutional
cooperation based on products and businesses, such as asset management
businesses such as financial products of commercial banks.
Limited by the operating
rules of China's financial system of separate operation and supervision, it is
difficult for commercial banks to obtain cross-industry business licenses.
Therefore, external cross-financial innovation based on products and businesses
is the mainstream form of cross-financial innovation of commercial banks at
present.
Inclusive finance (普惠金融)
It refers to providing
appropriate and effective financial services for all social strata and groups
with financial service needs at affordable cost based on the requirements of
equal opportunity and the principle of business sustainability.
Its core is to
effectively and comprehensively provide financial services to all sectors and
groups of society, especially those neglected by traditional finance in rural
areas, urban and rural poor groups, and micro-enterprises or SMEs, that is, to
provide everyone with timely, dignified, convenient, and high-quality financial
services at an appropriate price when they are needed.
Bank financing
subsidiary (银行理财子公司)
Bank financial
subsidiaries refer to non-bank financial institutions established by commercial
banks in the People's Republic of China with the approval of the banking
regulatory authority under the State Council and mainly engaged in financial
management business.
The financial management
subsidiary mainly undertakes the financial management business in the past
bank, relying on the parent bank's strong customer resources and sales outlets.
On the investment side, although the active management ability of the bank's
financial management subsidiary in the field of stocks is not superior, the
bank is good at engaging in non-standard claims, claims, and other assets, and
complements the asset management of fund companies and securities companies.
In addition to the
bank's inherent channel advantages and reputation advantages, the financial
management subsidiary will become an important participant in the asset
management industry.
Hope you enjoy the learning! For more
information, please click the label "China Financial Key
Terms" on the left bar to see the whole series.
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