Banking Development Should Not Miss Dividend Policy.

First, major policy dividends.

As the most important medium and long term strategy of the country, the implementation of the "area and one road" will have a historic impact on China's economy and become the most important policy dividend in the last decade.

Huge infrastructure construction and resource and energy development and utilization, all-round trade and service exchanges, and Chinese funded enterprises "go out" all contain great potential for business development of multi industry chain and multi industry.

After preliminary calculation, the demand for infrastructure construction funds in Asian countries will be as high as US $8 trillion in the next 5-6 years, which requires full support and protection from professional financial institutions. This will provide an unprecedented development opportunity for China's banking industry.

At present, the regional expansion of China's large commercial banks has entered the development stage of both domestic and international development, and international expansion has been relatively dominant. ICBC, Bank of China and Construction Bank have pioneered the construction of a business map spanning the whole world, and will certainly benefit from the development of the financial industry driven by "one belt and one way" policy.

Second, regional development dividends.

Over the past thirty years of reform and opening up, China's regional economic development has been greatly improved. However, the uneven development among regions still exists widely. It has objectively formed the internal impulse and demand for the late developing areas to catch up with the first income areas and low-income areas to catch up with the high income areas.

At the same time, China has entered the middle and late stages of industrialization and the acceleration period of urbanization development. The acceleration of urbanization development is an important source of market demand growth and an important support for economic growth.

China is a population superpower, and the accelerated development of urbanization will bring about rapid changes in population and its demand structure, and the scale and quantity will be greatly improved, thus forming a new larger scale and higher quality market demand, and the potential dividend generated by urbanization on this basis.

Under such circumstances, the banking industry has actively invested in promoting the urbanization process scientifically, and has endeavour to explore the regional equilibrium and the dividends of urbanization development, with a solid market base.

Regional development differences have an important impact on the structural differentiation of different types of commercial banks.

From the perspective of economic growth, small and medium listed banks committed to expanding domestic territory have certain comparative advantages.

If we subdivide it further, some of the small and medium listed banks, which rely mainly on the central and western regions, are expected to become the leaders of scale expansion, such as the listed banks in the hinterland of the western development and the banks to promote the channel construction in the western regions.

Thirdly, the dividend of industrial structure pformation.

At present and in the future, China is still the largest developing country in the world, which determines that the state still needs to further explore and utilize various potential advantages that contribute to sustained, healthy and rapid economic development. It can effectively drive industrial upgrading and technological innovation development in the country through a certain scale and quantity of technology import.

To this end, the banking industry needs to closely follow the trend of structural pformation, based on the great vision of economic restructuring, the pformation of industrial structure and the upgrading of technology structure, to seize business opportunities and fully discover and explore the potential dividends of new economic formats.

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As a matter of fact, the listed banks that have the basic advantages of customers and industries are facing new opportunities for rapid growth.

First, the pformation and upgrading of the industrial structure has created an important role for the small and medium-sized enterprises of science and technology.

It has substantial support for commercial banks with corresponding customer bases; secondly, with the increasing investment in the "three rural" investments and the implementation of preferential financial policies, banks with strong deposit base and rapid growth in county financial business are expected to break out of their long march.

Last,

The "new steady state" bonus of development.

According to the overall deployment, the risk of government financing platform is expected to "steady down and gradually resolve" in the future.

Although there may be some specific industry risk or regional risk, the probability of a significant rebound in the banking sector's bad rate is very low.

According to the results of the stress test, it is assumed that the potential losses of the banking sector will be limited if the housing price declines.

At the same time, the capital situation of the banking sector has improved continuously, and the capital adequacy ratio and core capital adequacy ratio have been on the rise, reaching and exceeding the requirements of the new capital regulatory standards. Many banks have more than 200% coverage coverage, which is beneficial to suppress the risk of systemic risk in the banking industry.

The steady development of the "new steady state" dividend provides a more adequate time window for the pformation and development of commercial banks.