According to an article on the front page of the Shanghai Securities News, a set of “combo punches” to push financial institutions to speed up reform and transformation and guide the dislocated development of the industry continues to be effective. According to industry insiders, the financial institution reform logic is shifting from “chemical insurance” to “improving quality,” and moving from local risk adjustment to overall optimization of the financial resource allocation pattern to better adapt to local economic development, thus maximizing the effectiveness of financial services in the real economy. Industry insiders said that reforming insurance is not a simple contraction, but rather optimizing and reshaping the overall layout of financial institutions, guiding various types of institutions to hierarchically classify and place themselves, and form a pattern of financial resource allocation compatible with the real economy structure and regional layout. Looking ahead to the development of small and medium-sized banks, Zeng Gang, director of the Tianfu Liyan Finance Research Institute, told reporters that misplaced development needs to be supported by systematic capacity building. Next, small and medium-sized banks should accelerate the pace of digital transformation and enhance their capabilities in customer identification, product innovation, risk management and operation management through the application of technology such as big data and artificial intelligence. In particular, they should pay attention to capacity building for risk management, establish and improve comprehensive risk management systems, and enhance the forward-looking nature of risk warning and the effectiveness of risk management.

According to an article on the front page of the Shanghai Securities News, a set of “combo punches” to push financial institutions to speed up reform and transformation and guide the dislocated development of the industry continues to be effective. According to industry insiders, the financial institution reform logic is shifting from “chemical insurance” to “improving quality,” and moving from local risk adjustment to overall optimization of the financial resource allocation pattern to better adapt to local economic development, thus maximizing the effectiveness of financial services in the real economy. Industry insiders said that reforming insurance is not a simple contraction, but rather optimizing and reshaping the overall layout of financial institutions, guiding various types of institutions to hierarchically classify and place themselves, and form a pattern of financial resource allocation compatible with the real economy structure and regional layout. Looking ahead to the development of small and medium-sized banks, Zeng Gang, director of the Tianfu Liyan Finance Research Institute, told reporters that misplaced development needs to be supported by systematic capacity building. Next, small and medium-sized banks should accelerate the pace of digital transformation and enhance their capabilities in customer identification, product innovation, risk management and operation management through the application of technology such as big data and artificial intelligence. In particular, they should pay attention to capacity building for risk management, establish and improve comprehensive risk management systems, and enhance the forward-looking nature of risk warning and the effectiveness of risk management.