Bank financing subsidiary company secret war again, what new method does each have?

category:Finance
 Bank financing subsidiary company secret war again, what new method does each have?


It is estimated that by the end of this year, the ratio of new and old financial products of Xinyin will reach 7:3. It can be said that our product transformation is in sight. According to the semi annual report of China CITIC Bank, as of the end of June this year, the scale of non risk bearing financial products of China CITIC Bank has reached 1152.777 billion yuan, of which the proportion of net value products has further increased to 67.70%. He Jin introduced that through the comprehensive asset management transformation, the principal guaranteed financial management of some banks has become a past time, and the banks financial management should create a product network with distinct risk return characteristics and ladder level levels To provide investors with a choice.

In the interview, he Jin revealed that similar to peers, from the absolute amount, fixed income products are still the mainstream, but the scale of equity products of the bank has reached more than 50 billion yuan, the follow-up configuration plan will depend on the pilot product issuance. On the same day, the responsible persons of the fixed income, capital market, equity and multi asset lines of Bank of China shared the development of relevant fields and looked forward to the investment opportunities in the market next year.

At present, 23 (including joint venture) financing subsidiaries have been approved in China. Among them, 8 joint-stock banks, including China Merchants, Xingye, Everbright, Huaxia, CITIC, Ping An, Guangfa and Pudong development, have been approved to set up and set up financial management subsidiaries and have opened business one after another. Zheshang Bank also disclosed the relevant preparation plan on November 26.

Preferred portfolio

Xinyin financial management opened its business in Shanghai on July 10 this year, with a capital of 5 billion yuan. It is the fourth financial management subsidiary of a joint-stock commercial bank in China and has settled in Shanghai.

By the end of 2019, the scale of China CITIC Banks financial management business has exceeded 1.2 trillion yuan, covering more than 3.268 million retail customers and over 24000 service institution users. By the end of June this year, the existing scale of non risk financial products of China CITIC Bank was 1152.777 billion yuan, up 4.49% from the end of last year. Among them, the proportion of net worth products increased to 67.70%, 8.23 percentage points higher than that at the end of last year.

It is expected that by the end of this year, the ratio of new and old financial products of Xinyin will reach 7:3. During the exchange, he Jin introduced that Xinyin financial management firmly implemented the regulatory requirements and steadily promoted the transformation of financial products, which was in sight.

Compared with the financial subsidiaries of other joint-stock banks, CITIC Group behind the bank has financial licenses in the fields of banking, securities, trust, insurance, fund and asset management. What chemical effects will be achieved by relying on the parent bank and CITIC Group?

Recently, the risk of credit bonds has been concerned by the market. What challenges will it bring to the financial management subsidiaries of banks? He Jin shared with reporters that from the product latitude, the warehousing standards of the investment end should be strict, the investment portfolio should be optimized, and the product fluctuation and risk should be controlled within a certain range, so as to achieve the expected income target relatively. On the other hand, it is necessary to do a good job in the proper management of customers, and the fluctuation range of investment side should match with the psychological fluctuation curve of customers.

In addition, he disclosed that in the process of business layout, Xinyin financial management will steadily promote the construction of five major systems, namely, risk rating, the standardization and mechanism of information disclosure, the financial technology system of digital transformation, the appropriateness management of customers, and the construction and improvement of valuation system.

In terms of asset management technology, he Jin introduced to reporters that Xinyin financial management adheres to the concept of technology enabled business and cooperates with professional manufacturers to build an integrated digital intelligence financing platform under the premise of independent control At present, it has initially established a comprehensive business support system for direct sales, distribution, risk control, asset management, trading, submission and data. In the future, the company will fully guarantee the investment in science and technology, comprehensively promote the digital transformation, and promote the business at both ends of capital and assets to reach customers in an all-round way.

At least CITIC, Societe Generale, Shanghai Pudong Development Bank and Guangfa bank will be registered in Shanghai. As a financial subsidiary of a joint-stock bank settled in Shanghai, he Jin recalled that the first off-site branch of China CITIC Bank was settled in Shanghai with deep roots. Shanghai has complete financial elements. With the continuous promotion of the construction of international financial center and financial opening, participants in the asset management industry will have a greater stage in the future.

He Jin revealed to reporters the intention of the financial subsidiary to support science and technology innovation enterprises in the future, the company plans to set up a science and technology innovation fund in the Yangtze River Delta region, pilot the equity direct investment (VC) of scientific and technological innovation enterprises, and support the development of science and innovation enterprises in the Yangtze River Delta; in addition, he plans to set up a 1 billion yuan equity investment fund (PE) in the Yangtze River Delta to support the Yangtze River Delta region The development of internal growth enterprises

Create a product network with distinct risks and ladder level

This year, compared with the branches of CCB and CCB, CCB has made more progress in financial management.

It can be seen that since the admission of Li Cai subsidiary company accelerated, the development achievements have initially appeared. New and old transformation superimposes fierce competition. How to speed up the improvement of product system and build core competitiveness of financial subsidiaries has become a consensus.

In terms of strategic layout, he Jin introduced that Xinyin financial management has formed a 371016 layout of three business areas, seven risk levels, ten product creation teams, twelve basic product lines and four kinds of investment advisory services. It is necessary to create a product network with distinct risk return characteristics and ladder levels, and provide investors with information transparency, information transparency, and investment consulting services Shared choice platform.

(since the new regulation on Asset Management), new products have their own independent strategies, separate account opening and independent bookkeeping. The proportion of investment in equity products is determined by the strategy. At present, compared with the same industry, the proportion of mixed products in new products is in the leading position in the industry, and the proportion of equity accounts for about 20% Peng Lingwei, general manager of Xinyin financial capital market investment line, told reporters, the scale of equity products in the future directly depends on the growth rate of new products with equity and whether the relative income products can be bigger.

According to reports, Xinyin financial management has strengthened the construction of equity investment capacity through quantitative bottom-up and basic mesoscopic penetration, forming a complete equity product system. Peng Lingwei told reporters that at present, it has included investment products with different strategies such as macro momentum elimination, flexible allocation, quantitative enhancement, fixed increase strategy, stock index, commodity and derivative index, etc.

According to the report on financing business development of Chinas banking industry in 2020 recently released by the China Banking Association, the current product system is still dominated by fixed income products based on the current layout of financing subsidiaries based on their customer base, risk preference and other attributes; the second is to explore the distribution of equity investment in the form of fof, mom and private equity in the initial stage; the third is to explore the distribution of equity investment in the form of fof, mom and private equity The product system planning highlights the differentiated strategic layout and gives full play to their comparative advantages.

From the perspective of the layout structure, Xinyin financial management has set up three major investment divisions: equity and capital market investment department, fixed income and multi asset investment department and wealth management and solutions department. In terms of product system, it covers currency, pure debt, fixed income +, multi asset, flexible allocation of equity, quantitative Multi Strategy, equity, project, equity investment, tools, pension products, foreign currency and cross industry Environmental products, etc.

Regarding the market investment opportunities in the next year, Zhao Xinjie, general manager of the fixed income investment line of Xinyin financial management, believes that the monetary policy will return to stable neutrality in 2021, and there is no basis for long-term inflation or deflation. The dual cycle supports the endogenous power of economic recovery, and consumption and manufacturing investment continue to repair: first, consumption releases new power to support and promote the internal circulation system; second, investment is expected to continue to improve driven by the profits of manufacturing enterprises and industrial upgrading; third, the export toughness in 2020 exceeds the expectation, driven by the global economic recovery, it is expected to maintain positive growth in 2021. Looking forward to the investment opportunities in the equity market next year, Peng Lingwei is firmly optimistic about the investment opportunities of Chinas equity assets. She believes that the current attraction of Hong Kong stocks and A-shares is stronger than that of bonds and major overseas stock markets. With the recovery of the growth rate of corporate profits, market investment should choose key stocks of the track, grasp the leading advantages, significantly benefit from consumption upgrading, domestic substitution, and investment opportunities brought by financial reform. Source: Securities Companies in China Author: Duan Jiuhui, editor in charge: Zhong Qiming_ NF5619

Regarding the market investment opportunities in the next year, Zhao Xinjie, general manager of the fixed income investment line of Xinyin financial management, believes that the monetary policy will return to stable neutrality in 2021, and there is no basis for long-term inflation or deflation. The dual cycle supports the endogenous power of economic recovery, and consumption and manufacturing investment continue to repair: first, consumption releases new power to support and promote the internal circulation system; second, investment is expected to continue to improve driven by the profits of manufacturing enterprises and industrial upgrading; third, the export toughness in 2020 exceeds the expectation, driven by the global economic recovery, it is expected to maintain positive growth in 2021.

Looking forward to the investment opportunities in the equity market next year, Peng Lingwei is firmly optimistic about the investment opportunities of Chinas equity assets. She believes that the current attraction of Hong Kong stocks and A-shares is stronger than that of bonds and major overseas stock markets. With the recovery of the growth rate of corporate profits, market investment should choose key stocks of the track, grasp the leading advantages, significantly benefit from consumption upgrading, domestic substitution, and investment opportunities brought by financial reform.