The Unique Strategy Of Liang Weining, Chairman Of Overseas Chinese Bank Of China

Thirty fame and dust and earth, eight thousand miles of cloud and moon.

This year is the thirtieth year of China's reform and opening up. As a wholly owned subsidiary of OCBC in Singapore (Overseas Chinese Bank of China), it has a certain significance to launch a strategy called "eight thousand mile cloud and month" for market planning.

It not only shows that the road is not smooth, but also contains the ambition of banks to actively explore the future.

What is more wonderful is that such a "heroic" person is a famous woman.

At the end of last year, Liang Weining (42 years old) became the chairman of overseas Chinese Bank of China. He was responsible for formulating the direction and implementing strategy for the bank's China business.

In a few months after taking office, she shared the strategy of "eight thousand miles of cloud and moon" in a forum entitled "strategic opportunities and prospects for the new century in the Asian century".

At that time, she did not rely on speeches at all, nor did she need to aim at the projection of the data. Instead, she walked around the speaking platform easily, and the words were speaking out of the strategic components.

This Singaporean has 12 years of banking experience and seven years of business experience. He has been living in China for the past seven years, and has held an important position in PHILPS Electronics (China) group and HSBC (China) respectively.

At the same time, "the eight thousand mile cloud and the moon" is a strategy of eight lines at the same time, she told the newspaper that the eight lines were carried out at the same time.

The first line is brand positioning, so that customers can easily associate with the business and brand represented by OCBC.

The second is to find the core competitiveness in the huge Chinese market and choose specific objects and products to carry out business.

The third is to update the information technology system and platform for laying new products and outlets; the fourth is to optimize the business process system and standard platform; the fifth is to grow through its own efforts and cooperation with the outside world (OCBC owns 10% of the Bank of Ningbo, hoping to have new partners in the insurance, banking and securities sectors).

Sixth is to strengthen risk management, seventh is to set up effective organizational structure, and the last is to attract and retain talents.

Liang Weining said: "the eight thousand mile road means that the overseas Chinese bank's commitment to China is unwavering. We are ready to develop in the long run and contribute to China's financial sector and its customers.

This strategy includes eight lines that must be laid out at the same time to do well in the Chinese market.

OCBC opened its first branch in Xiamen in 1925 and started the Shanghai branch two years ago. It has never left China for more than 80 years.

In August last year, it became a legal person bank in China. Its headquarters is in Shanghai, with branches in Xiamen, Tianjin, Chengdu and Guangzhou.

However, in terms of network coverage, it is far inferior to the four major state-owned commercial banks in China, such as industry, commerce, agriculture and industry. In terms of popularity, they are left behind by international banks such as HSBC, Citigroup and Standard Chartered Bank. What else can they do?

Liang Weining said that this is precisely the importance of locking in service objects.

After some research and argumentation, OCBC has locked its target customers into medium-sized Chinese enterprises (i.e. annual sales between 30 million yuan and 500 million yuan), and has targeted selection to provide "complete supporting services" for some specific industries, such as opening accounts, daily down payment, payment and settlement, financing and import and export, according to the development prospect and ecological chain.

When these enterprises develop to a certain scale, they need private placement and early capital investment, and provide corresponding services for them.

Take the auto parts industry as an example, the overseas bank of China does not serve First Automobile Group Corp or Guangzhou Honda Automobile Co, but provides manufacturers and downstream businesses of auto parts.

Liang Weining said that if we want to break through the limitations of the outlets, we need to open up channels to communicate with customers. Therefore, banks are ready to launch an enterprise online banking platform in China.

"To provide" one-stop "services for enterprises, they will feel that they are key customers.

In addition to cash flow, time is also important for enterprises. They want to run fewer banks and also want to have a customer manager who understands their needs, so they do not need to repeat requirements.

To win customers from Taiwan funded enterprises.

In addition, OCBC China is also actively seeking to serve Taiwan funded enterprises and positioning them as "family banks" to develop relevant banks for the needs of family members.

Liang Weining said frankly that the establishment of a legal bank has made overseas Chinese banks more diversified in China. With the approval of the China Banking Regulatory Commission (CSB) of Shanghai and Chengdu branches, China overseas bank will gradually launch RMB products and services for individual customers, such as Renminbi or foreign currency demand deposits, time deposits, one day and seven day notice deposits, structured financial products, housing loans, foreign exchange trading and remittances, overseas financial products, and certificates of funds for studying and working visas.

The company became a corporate bank. 1st anniversary, looking forward to the future development of the bank, OCBC China also faced challenges.

Not long ago, PWC's "foreign banks in China" released by the accounting firm pointed out that the 35 Foreign Banks' chief executives, executives and branch presidents all unanimously pointed out that in China, the biggest difficulty facing the banking industry is from the regulatory environment, and the other is the shortage of talent.

Liang Weining, an overseas Chinese bank, is one of the foreign banks involved in the survey. Although he also believes that the regulatory environment is rigorous, he understands this.

She believes that the more mature and open financial markets such as Hongkong and New York are relaxed, allowing market rules to determine the survival of financial products or institutions. The regulation of Asia is relatively "paternalistic". "Let me draw a frame for you first and see that you have grown up, and I will enlarge the framework. China's regulatory system is the framework."

Although it is necessary to meet the supervision of the people's Bank of China, the foreign exchange administration and the Banking Regulatory Commission, it means that banks have to face a very high cost. But Liang Weining stressed that banks should also actively communicate with regulators, such as discussing feasibility with regulators before launching products.

"We will share the general direction with the regulatory authorities in the eight thousand mile road," he said.

About three to six months later, the authorities also informed us of the progress. "

As for the shortage of talent, Liang Weining does not think this is a problem facing foreign banks, because there are no more financial professionals in the market, and foreign and Chinese banks are doing their best to expand their businesses.

In order to establish a talent pool, the recruitment activities of OCBC in China are not limited to financial professionals with a wealth of professional experience and knowledge.

It also actively recruits graduates, and intermediate managers who aspiring to join the financial sector but lack financial experience.

Not long ago, it boldly promoted a local young employee who joined the overseas Chinese bank four years ago and became the governor of Shanghai branch of Chengdu branch.

Liang Weining said: "this is indeed a breakthrough. Before the presidents are all expatriates, we hope that the branch can be gradually localized and tell other staff that if we play well, there will be room for promotion, and seniority and nationality are not important."