On the afternoon of Dec. 6th, Xu Bing, chief director of Jiangsu Financial Association, secretary of party committee and president of Jiangsu Branch of Bank of Communications, gave a lecture on “The Analysis of Management Strategy of Commercial Bank in the New Normal State ” in Room 120 Minxing Building. Professor Jiang Zhifen and Professor Wang Zhihua of School of Finance, teachers and students of Institution of Economics and Finance attended this lecture and joined in discussion.
Firstly, President Xu illustrated his understanding of New Normal. The world’s New Normal includes new period and the rebalance and eastward of the core of economics; China’s New Normal includes the gear shift of economics growth, the decrease of profitability, the emergence of new forms of financial industry, the rise of the innovation of financial technology, the strengthened regulation of risks in the bank’s new normal. Secondly, he introduced different steps of the development of commercial banks and the opportunities and challenges faced by banks in new normal. The world’s new normal resulted in the rebalance of the core of the world’s economics. China’s new normal resulted in the shift of energy source faced by the economics. Consequently, the traditional management stratety can hardly adapt to banks in new normal. Finally, President Xu introduced his ideas on how to manage a bank in the new normal.
Teachers and students are quite interested in President Xu’s opinions and raised questions in sequence, such as the influence of the enforcement of regulation, the prevalence of electronic currency and mobile payment on the banking industry. President Xu hold the view that we need to guard financial risks and promote financial technology innovation, such as artificial intelligence, behavior analysis through big data and virtual reality, to adapt to the new supervision requirements. He also shared feelings about being a president and solved questions about getting employed in a bank.