CEO访谈特别报道从产品创新到商业模式创新：银行业如何迈向“中国创造”次贷危机暴露出了美国的金融市场完全放弃了安全性和流动性，疯狂地追求盈利性，依靠高倍的杠杆率和近乎黑洞般的衍生工具，如赌徒般疯狂地追求利润。然而中国的金融业却有迈向另一个相反极端的可能，“在目前体制下，我们银行家的创新能力、驾驭并承担风险的能力已经沦落到典当行的水平了。”十六年来，王绍文就金融创新做出了深切思考并在实践中不断开拓。The sub-prime mortgage crisis exposed recklessness in the US financial system, especially among risk-laden, but innovative, derivates. China's financial sector, on the other hand, remains the 'too cautious' end of the spectrum. Read on to see how maverick banking executive Wang Shaowen (EMBA 2004) Deputy Director, Guiyang State-owned Assets Supervision and Administration Commission, and former President of Guiyang Commercial Bank, has broken new ground in China's banking industry over the past 16 2009 8-9月刊
FEATURECEO TALKBY ECHO ZHOUhile the global financial model will face severe 40% are struggling to survive. In financial crisis survival challenges.”order to keep their doors open, these has ravaged One of the major hurdles facing enterprises desperately need support. once-mighty China’s banking industry, he says, is Inadequate capital has been cited as Winstitutions like the cookie-cutter nature of its banks one of the main reasons for most Merrill Lynch and Lehman Brothers, – they all look the same and offer the failed business. and caused a precipitous drop in the same products. This lack of diversity With China’s marketization of market capitalisation of financial will make competing difficult when interest rates and further opening-enterprises worldwide, some Chinese the market is further opened to up of its banking industry, Mr Wang banks have been doing quite well. In competition from outside. believes local banks will eventually fact, the market caps for Industrial “Homogeneity has been a major feel the backlash from their failure to and Commercial Bank of China drawback of China’s banks. There are provide financing for SMEs. He (ICBC), China Construction Bank, all kinds of banks on the street, but if points out that the global practice is and Bank of China have been ranked you don’t look at their brands when for large enterprises to go to the as the top three in the global banking you walk into the banks, you can capital market for funding, which industry. More notably, ICBC reigns hardly tell any difference between forces banks to turn their attention as the first Chinese enterprise with them,” he says. “On the contrary, to financing SMEs. It will be vital, total assets exceeding RMB10 trillion. banks in America and Europe usually Mr Wang says, for China’s And last year, China’s urban have their own unique brands. For commercial banks to answer commercial banks each saw their instance, Citibank, HSBC, Standard touchstone issues such as: how to business indicators reach the highest Chartered Bank, and First American carry out an accurate valuation and levels are all very different in terms of assessment on SMEs, how to meet “What has caused the growth? their ethos, cultures, products, values, the needs of these enterprises Was it their global competitiveness?” and internal structures.”through financial innovation, and asks Deputy Director, Guiyang State-Chinese banks are also in lock-how to continuously expand quality owned Assets Supervision and step when it comes to their aversion customer resources. Administration Commission Wang to supplying loans to China’s small Speaking at CEIBS last Shaowen (EMBA 2004). The former and medium sized enterprises November, Lead Financial Sector President of Guiyang Commercial (SMEs), despite the fact that these Specialist in the East Asia Pacific Bank answers his own question with SMEs employ 75% of China’s Region and Coordinator for the an emphatic “No!” Wang explains, working population, and contribute World Bank’s financial sector “We are currently under the more than 60% of GDP and over programme in China Dr. Wang Jun, protection of financial regulation and 50% of tax revenues. “At the moment, suggested that the country’s supervision. The success (of our SMEs account for 99% of all commercial banks should focus on banks) has been achieved because of enterprises but get less than 30% micro and small enterprise (MSE) the 30 years of rapid development financial capital,” explains Wang.”financing as their future core since China’s reform and opening-Wang believes that the business. He said then that local up.” He is less than impressed with homogeneity of financial institutions banks have a five-year window of the level of creativity shown within has become a barrier to more opportunity before increased the sector. “Innovation-wise, our substantial economic development. competition eats into their profits financial industry is still lagging According to Chinese Academy of from this market segment. behind,” he says. “We have not really Social Sciences statistics, as of June Interestingly, Guiyang stepped into the global financial 2009, 40% of Chinese SMEs had Commercial Bank (GCB) tapped into world. Once our financial industry collapsed under the crushing weight that market a full 10 years ago, then becomes fully marketized, our current of the financial crisis and another under the direction of Wang TheLINK August-September 200915
CEO访谈特别报道文 / 周杨金融海啸以摧枯拉朽之势席银行方面也终将为“中小企业融资难”位处不沿海、不沿边、经济欠发达卷全球之际，美林证券和雷这一顽症买单。根据国际经验，大型的西部地区，贵商行依托大批茁壮成在曼兄弟等昔日的金融巨鳄瞬企业将更多通过资本市场来解决资金长的中小企业取得了长足发展。截止间坍塌，全球金融机构的市值纷纷大需求，银行将不得不被迫转向开拓中到2008年末各项存款余额由2004年初幅缩水；而中国工商银行、中国建设小企业融资市场。因而，如何对中小的亿元增加到亿元，增长银行、中国银行则异军突起，其市值企业进行准确评估、如何通过金融创倍；贷款余额由2004年初的目前已跃居全球银行前三甲，其中工新来适应中小企业的特点并不断开拓亿元增加到亿元，增长倍；行更是国内首家总资产超过10万亿元总资产由2004年初的亿元增加的企业。而中国的城市商业银行也在到亿元，增长倍；拨备前利2008年表现不俗，各项经营指标均达润由2003年末的亿元增加到亿到了历史最高水平。元，增长倍。资本充足率从2004年金融创新就是要在多维“这一增长究竟是怎样形成的？初的%到9%。不良贷款率下降到是不是通过参与国际竞争形成的？没9%。市场份额在贵阳市银行业中排名的、时空错位的资金供求有。恰恰相反，我们是在现行金融监第三，仅次于工商银行和建设银行。者之间提供最便捷的金融管政策的庇护下，搭上了中国改革开同时，贵商行在提高服务质量和放30年的高速列车而获得的成功。”强化内部管理上狠下功夫，成为西南服务，要让客户的金融活贵阳市国资委党委委员兼副主任、原地区首家通过ISO9001：2000国际质量动像做梦一样方便，这是贵阳市商业银行行长王绍文（EMBA 管理体系认证的城市商业银行。20082004）忧心忡忡地表示：“从创新的年6月18日，贵商行第一个跨区域分支金融创新的宗旨。角度来看，金融业发展还是非常滞后机构在毕节成立，成为西部地区为数的，我们尚未真正步入国际金融舞不多的跨区域规模扩张的城市商业银台。随着我国利率市场化的推进和向行中的一员。外资银行的进一步开放，现有的商业优良的客户资源将成为考验银行的试作为一名金融管理者，王绍文16模式将面临严峻的生存挑战。”金石。年来如履薄冰，不敢丝毫懈怠，除不王绍文进一步指出，同质化是目世界银行中国金融项目负责人、断学习、勇于探索外，对银行商业模前中国银行业一个挥之不去的痛。市东亚与太平洋金融发展局首席金融专式创新的研究有着强烈的紧迫感。面上的银行林林总总，然而如果不看家王君博士明确指出，微小贷款应该“365天×24小时服务、十分钟贷款、缴门头，置身其中根本无法区分其产品成为中国商业银行未来的战略重心。费通、空中银行、及时雨和及时贷这和服务内容的差异。而欧美的银行则在不断加剧的竞争将利润率压缩到正些只是产品创新，这几年我一直在钻各有其强烈的风格，花旗、汇丰、渣常水平之前，微小贷款业务这一机遇研如何建立差异化的金融商业模式，打、美国第一银行等，他们在理念、期将持续5年左右。着手发展战略规划、企业文化建设、文化、产品、价值主张、内部结构等而王绍文工作过的贵阳市商业银信息平台的搭建、薪酬考核、组织建方面均独具一格。行（以下简称“贵商行”）则在十多年设……在速度和差异化决定胜败的时就贷款业务而言，占总数达99％前就抓住了这一“先行优势”，确立了代，只有依赖独特的商业模式才能生的中小企业仅能得到不足30%的金融“立足中小、服务市民”的市场定位，存，并不断开拓新的空间。”资源。然而中小企业却担当了全国培育了神奇制药、雅园集团、通源汽本期《TheLINK》杂志就王绍文在75％的就业市场提供者的角色，对车、家喻装饰、智诚名店、星力百货中小企业贷款领域的丰富经验以及如何GDP的贡献超过60%，对税收的贡献等一系列中小企业的发展壮大。推进金融商业模式创新进行了专访：超过50％。前不久中国社科院发布了针对个体工商户规模小、贷款周一组数据，全国中小型企业在金融风期短、使用频度高的特点，贵商行于TheLINK：随着金融危机对中国影响暴冲击下已经有40％倒闭，另外还有2005年推出了全省第一个专为个体工的不断深化，中小企业面临着严峻的40%正在生死边缘挣扎，要想走出生商户量身定造的金融新产品——“及时考验，近日中央15个部委更是联合提死一线的困境，中小型企业必须得到雨”小额贷款。2006年还引入了世界银出了《促进中小企业发展意见》，您巨大的支持。同时，调查也显示中小行的微小贷款项目。2008年，贵商行能否根据16年的商业银行管理经验解企业大量倒闭的一个主要原因就是投特别推出了解决小企业生产经营过程释一下为什么中小企业融资难的问题融资严峻不足。中资金短缺的一揽子专项融资产品“及一直尾大不掉？另一方面，随着我国利率市场化时贷”，基本覆盖了小企业生命周期不王绍文：一方面，中小企业贷款难确的推进和对外资银行的进一步开放，同成长阶段的不同融资需求。实是由于中小企业本身存在一系列问16TheLINK 2009 8-9月刊
FEATURECEO TALKProfileName: Wang Shaowen (EMBA 2004)Title: Deputy Director, Guiyang State-owned Assets Supervision and Administration Commission, Guizhou Province; former president of Guiyang Commercial BankCareer DevelopmentAugust 1984 – April 1992: Teaches at Guizhou Banking SchoolSeptember 1986 – August 1988: Completes junior college programme at Guizhou Radio and TV University; September 1989 – August 1991: Studies financial management at Shaanxi Institute of Finance and EconomicsApril 1992 – December 1992: Deputy Director, Administrative Office, Guizhou Banking SchoolDecember 1992 – April 1997: Deputy Director, then Director, of Guiyang Experimental Urban Credit CooperativesApril 1997 – July 1998: Assistant President of Guiyang Cooperative BankDecember 1996 – November 1998: Completes Master’s degree at the Graduate School of the Chinese Academy of Social SciencesJuly 1998 – March 2004: Vice President of Guiyang Commercial BankMarch 2004 – September 2008: President, Deputy Secretary of CPC Committee, and Vice Chairman of Guiyang Commercial BankMay 2004 – September 2006: Completes Master’s degree in Corporate Management at CEIBS; September 2005: Begins a PhD in economics at Sichuan UniversitySeptember 2008 – Present: Deputy Director, Guiyang State-owned Assets Supervision and AdministrationCommission, Guizhou ProvinceShaowen. Following a market strategy package virtually covers all the an international organization for of working with “small and medium different financing needs at the standardization in Southwest China. sized businesses, serving ordinary various development stages of small On June 18, 2008, with the people” they nurtured many enterprises’ life of the first cross-region successful SMEs such as Shenqi It has been a win-win formula: branch of GCB in Bijie, the bank Pharmaceutical, Yayuan Group, GCB has thrived as these SMEs have became one of the few municipal-Tongyuan Auto, Jiayu Decoration, Zhi grown. Up to the end of June 2008, level commercial banks to expand Cheng Avenue, and Xingli GCB had total assets of across regions in the Southwest. This – 13 times its asset base at was in line with GCB’s three strategic In order to meet the individual start-up. Its savings deposits reached goals, which it set in 2007: to needs of its clients, who usually billion – times the incorporate strategic investors, to be require frequent, small scale loans for amount the bank was first established listed, and to extend its operations short periods of time, GCB was the – while the loan balance stood at beyond the ’s first bank to develop and billion, times the With the amazing achievements offer customised financial products original figure. Based on its savings racked up during his ten years as for individual businesses. The scale and market share, GCB was leader of the bank, Wang Shaowen initiation, dubbed “Timely Aid” Small ranked third among all the banks in appears especially modest when he Loans, came on-stream in 2005. In Guiyang, after ICBC and China points out that the financial 2006, the bank also introduced micro- Construction Bank. innovations he has been assiduously and small loans from the World Bank. In addition, GCB has made a seeking in the past decade served only Then in 2008, GCB launched a special significant effort to improve services as the foundation for GCB’s next package called “Timely Loan” to and its internal management. It was giant leap. "On the surface, GCB – as resolve the capital shortage in the the first municipal-level commercial an average institution – is successful operations of small enterprises. The bank to be certified by ISO9001:2000, in that it is making a profit. However, TheLINK August-September 200917
CEO访谈特别报道发人深省：王绍文指出，“在目前体制下，我们银行家的创新能力、驾驭并承担风险的能力已经沦落到典当行的水平了。”TOUGH TALK – Wang Shaowen argues against over-regulation of China's banking sector. "In the system now, the innovation and risk-managing abilities of China's bankers have been reduced to that of pawnshops."题，诸如信息不对称、管理不规范、结在于信息不对称，只能通过这种深世界，必须要有差异化的商业模式。生命周期短等等。入接触，即建立“关系” 来全面了解企首先溯本求源，金融活动的产生另一方面，问题更多存在于银行业情况。关系贷款其实是一种很独特是基于资金的供求方——借款人和用方面，我们并没有很好的商业模式去的贷款模式，德国的复兴银行、APC公款人——在时空上的错位，所以金融为中小企业服务。为什么德国复兴银司就通过这一模式获得了成功。创新就是要在这种多维的、时空错位行、美国的国富银行、硅谷银行能够十多年前的城市信用社的客户百的供求者之间提供最便捷的金融服在中小企业贷款领域获得成功？因为分之百都是中小企业，贷款方式非常务，要让客户的金融活动像做梦一样他们一直奉行“我的市场就是他，他就简便，贷款形式非常灵活，从某种程方便，我认为这是金融创新的宗旨。是我的上帝”这一宗旨，中小企业贷款度上看，那时的中小企业贷款难问题1997年贵商行成立之初就在全国难问题是中小企业成长过程中的客观弱于现在。正是在这种便利的融资背首先提出了“365天，天天营业，24小问题，我们不应回避。景下，城市信用社扶持培育了许许多时，时时服务”这一理念并通过品牌银行家要主动去承担风险并学会多目前堪称“中流砥柱”的优秀企业。宣传在贵阳一炮打响。当时我们没有经营、驾驭风险，在无抵押担保的情樊纲、周其仁、许小年教授等许ATM机，但基于市场调查，我们发现况下，也能发掘中小企业的价值和市多有识之士一直在呼吁中国的民营银“365天×24小时银行”服务这一需求是存场潜能，为其提供资金支持，从而真行尽快开闸，放开中国民营银行之在的，如出租车司机、出差旅行者、正实现金融机构的杠杆作用，发挥社后，他们面对的客户就是中小企业，夜间意外住院者等，后来我们发现有会的财富效应。但这又涉及到体制问那么他们肯定会想方设法地去面对中潜在需求的客户也愿意来存款，这就题，在现有体制下，银行管理人员没小企业贷款难问题，那么中小企业贷说明，产品创新不仅仅要满足客户的有足够动力去为中小企业贷款难问题款难的问题也就能够在很大程度上得现实需求，更应着眼于客户的潜在需破冰前行。以解决。求。1998年我们又推出了“10分钟贷TheLINK：对于中小企业贷款风险偏TheLINK：能否结合您在贵商行的创新款”，从申请到发放贷款，仅用10分钟高这一让银行备感头疼的问题，能否实践阐释一下您的金融商业模式创新？完成，这是针对在贵商行存款或购买分享一下您在控制风险方面的经验？王：为什么肯德基的鸡腿、星巴克的国库券的客户，旨在解决客户的资金王：银行要切身地去了解中小企业的咖啡能够风行全球？关键不在于他们临时周转问题。产品、服务模式、经营理念和管理方的产品本身多么独特，而是独特商业2004年起，我们将个金业务聚焦式，还有企业家的人品和价值观。这模式下形成的独特价值理念，从而形在民生方面，首先推出了“缴费通”，与国有银行所提倡的“杜绝关系贷款”这成独占的资源和能力，并最终获得独将贵阳市老百姓需要缴纳的水、电、一理念正好相反，中小企业贷款难症享的盈利空间。中国的金融业要走向煤气、电话费、有线电视费甚至交通18TheLINK 2009 8-9月刊
FEATURECEO TALKgreat changes are taking place and the life cycles, many small businesses need to learn more about the integrity bank will be totally different within a cannot get loans. Banks are more and values of the entrepreneurs. This few years." Those who know his willing to lend to large enterprises is exactly the opposite of state-owned history as the architect of the unique and to finance the construction of banks’ guiding principle of “no loans concept of "innovation of the large-scale infrastructural projects. to associates.” SMEs do not have financial business pattern" are eager The risk for the latter is basically financial statements, so we to see what Mr. Wang comes up with On the other hand, banks have an have to know and understand them next. It appears he still has a lot of even bigger problem. We do not have through such close contact with tricks up his sleeve. "’Timely Aid’ and an adequate business structure to “associates.” In fact, “lending to ‘Timely Loan’ are only innovative effectively serve SMEs. Why are KFW, associates” is a unique business products,” he explains. “Over the past Wells Fargo, and Silicon Valley Bank pattern, and KFW, Wells Fargo and few years I've been delving into the successful in meeting the banking Silicon Valley are examples of how depths of the establishment of needs of SMEs? Because they always such a concept can be successful. differentiated financial business stick to the principle of "my market is In addition, banks should not patterns, of development strategies, my God." The problems we face in only provide financing, but also fulfil corporate culture, IT platform, the SME segment of the market are a the role of a “consultant.” GCB mechanism of effective payment and part of the development process. So provides both money and ideas, and evaluation, and Party organization... serves as a guide and a catalyst for the In times of rapid change and development of , only unique business Professors Fan Gang, Zhou Qiren IN TIMES OF RAPID CHANGE AND patterns will survive and thrive."and Xu Xiaonian have been calling DIFFERENTIATIONS, ONLY UNIQUE In an exclusive interview with for the lifting of the ban on private TheLINK, Mr Wang Shaowen talks banks in China. In their opinion, BUSINESS PATTERNS WILL about his experience in the often when these private banks emerge, the SURVIVE AND THRIVEneglected area of lending to SMEs SMEs’ financing problems will be and the role of innovation in the largely relieved. This is because banking banks mainly serve SMEs and we should not shy away from these they will devise ways to solve the TheLINK: Faced with shrinking of their main clientele. international markets as a result Bankers should not merely avoid of the global financial crisis, TheLINK: Your bank's financial risk; they must learn to manage and China’s largely export-driven innovations have received control risk. They should be able to SMEs are facing tough times. In find value anrecognition from many industry d market potential in response, 15 central government SMEinsiders, such as Long Yongtu and s even when there are no departments and ministries underlying securities, anDr. Wang Jun. Could you please d to provide recently issued their joint financing for them. Tgive our readers a few examples of his is the only "Guidelines for Promoting SMEs." wthese innovations?ay financial institutions can use With your 16 years of experience their leveraging skills to fulfil their Wang Why are KFC and Starbucks :in managing commercial banks, role as a facilitator of wealth creation. so popular around the world? It is can you explain why it is so not because their products are special, difficult to solve SME financing TheLINK: You spoke of bankers’ but rather because their products problems?need to manage and control risk. have their own unique values which WCan you share some of your ang Shaowen: On the one hand, have been established through experience in this area?banks are not bold enough to take the innovative business models. These risk of lending to SMEs. With their Wang Banks have to really unique values are translated into :messy financial statements, false understand SMEs’ products, patterns these enterprises' distinctive resources financial reports, information of service, business concept, and and capabilities, which are able to disparity, mismanagement, and short management structure. They also create profits that only they enjoy. TheLINK August-September 200919
CEO访谈特别报道罚款等全部整合在一个平台上。刚开要在古今中外浩瀚的银行商业模式中采用了精妙的股份制，美国花旗银行始占用了极大的柜台资源，包括客户去吸取，去甄别，去探索。总之，创第一家分行在上海开设时，山西的票和银行上下都有意见。但后来我们又新银行商业模式“路漫漫兮修其远”。号已经覆盖了整个亚洲……这些博大推出了“空中银行”，即鼓励客户通过精深的金融底蕴都值得我们发掘。电话银行、手机银行、网上银行来缴TheLINK：现在制造业都在谈从“中费。虽然前期投入十分大，但我们不国制造”走向“中国创造”，您觉得TheLINK：从商业银行行长到国资委仅增加了业务，更为重要的是从中细中国的银行怎样才能走向“中国创副主任，您怎么适应这一角色转换？分了低、中、高端客户，从而能够对造”？还有您一直是一个勇于创新、敢于冒优质客户进行主动营销。随着业务量王：除了向西方学习，坚持国际化；险的人，在政府部门您将怎样保持这的不断增加，效益逐渐凸显，并且还持续金融创新，打造差异化的商业模一创新热情？同时获得了大量客户资源。到2008式；还有被大家普遍忽视的一点，就王：其实创新适合于每个行业，特别年，贵商行基本完成了从代发工资、是发掘中国的民族性。是今年《企业国有资产法》正式实施代缴各种费用、税收，到代理医保、只有具有民族性的东西才能真正以后，国有资产监管创新也是一个新社保的整合，是真正的“市民银行”。做大做强，生搬硬套很有可能水土不的话题：如何让我们的国有资产增值银行商业模式是整合一系列要素服。中国人的理财心态是财不露白，保值，从一般意义的监管到现在的期及其关系的概念性工具，用于证明这西方人喜欢超前消费；中国人是量入权激励，不断的管理创新，这些都是一独特银行的商业逻辑。商业模式的为出，西方人则是提前透支等。这是值得研究的领域。另外我也能将金融创新难度远远大于产品创新，是银行完全不同的心理偏好，所以对于西方知识与现在的工作相结合，帮助促进创新的总集，需要在战略、文化、组的金融产品我们不能生搬硬套。国有资产的增值保值。人生就是一个织架构、IT、人力资源、产品等方面全世界第一张纸币“交子”诞生于中不断丰富体验的过程，我认为还是很进行深度的梳理、整合和创新，更需国的北宋年间，中国的钱庄早就已经有价值的。 人物小档案姓名：王绍文(EMBA 2004)头衔：贵州省贵阳市国资委党委委员兼副主任、原贵阳市商业银行行长高级经济师，副研究员，中华全国青联九届委员会委员，九届、十届贵州省青年联合会副主席，中国国债协会理事，九届、十届贵州省政协委员，十二届贵阳市人大常委、财经委员会副主任(兼)。贵州省2004年“五四青年奖章”获得者。职业发展1984~1992年 贵州省银行学校教师(其间：1986~1988年在贵州广播电视大学大专班脱产学习；1989~1991年在陕西财经学院本科金融管理专业脱产学习)~ 贵州省银行学校办公室副主任1992~1997年 贵阳市实验城市信用社副主任、主任1997~1998年 贵阳市合作银行行长助理1998年 在中国社科院获研究生学历1998~2004年 贵阳市商业银行副行长2004~2008年 贵阳市商业银行行长、党委副书记、副董事长(其间：2006年 在中欧国际工商学院获硕士学位；2005年就读四川大学经济学博士)2008年9月至今 贵州省贵阳市国资委党委委员、副主任20TheLINK 2009 8-9月刊
FEATURECEO TALKHow should China’s financial beginning, there were complaints A local Chinese bank must study industry go global? My answer is that about the service from both our its own nation and people. Only the industry has to form its own customers and clerks because it used businesses with distinctive Chinese business pattern that can be copied up a lot of our customer service characteristics can become successful. exactly in every country in the world. resources. Later, however, in order to Mechanically copying Western First, we need to understand solve this problem, we launched the models has proven to be infeasible. what lies beneath the basic need for a “Virtual Bank Service” to encourage Chinese people have a tendency to financial industry. The financial people to pay their bills by phone or save, while western people tend to industry exists because the needs of the Internet. Although it took a lot of spend. The Chinese tend to spend borrowers and lenders do not happen work in the beginning, the new based on how much they make, at the same time nor at the same services proved to be very effective, whereas Westerners tend to spend place. Based on this situation, the more than they earn. Based on these leading aim of financial innovation, I differences, we can say that Western THE ONCE UNPROFITABLE AND think, is to provide the most financial products are not suitable for convenient services for customers, to Chinese SERVICES BECAME make our customers feel that using our services is as easy as snappTHE ONES THAT NOT ONLY TheLINK: You are a former ing commercial bank president who is their fingers. BROUGHT IN MONEY, BUT ALSO now Deputy Director in the State-In 1997, when GCB was founded, owned Assets (SOA) Supervision it achieved its first public relations EXPANDED OUR CLIENT BASEand Administration Commission. success by launching a novel “24/7 How did you adjust to this change? Service.” At that time ATM machines were not popular, but based on our not only inAs a creative and adventurous increasing our business, mperson, how do you maintain your arket research, we concluded that but also in helping us to classify our enthusiasm for innovation in a there was a need for a 24-hour bank customers based on their needs. With government-run organization?service. We identified potential clients this in place, we could begin such as taxi drivers, people on marketing initiatives aimed at our Wang In fact, innovation exists in :business trips, those with late night high-end customers. The result? The every industry. The question of how medical emergencies and may need to once unprofitable and troublesome to be innovative in supervising and pay a deposit for their hospital beds. services became the ones that not administrating SOA’s has become a Then we found that these potential only brought in money, but also hot topic of discussion, especially clients would also be willing to expanded our client the “Enterprise State-owned deposit their money at Act” came into effect earlier TheLINK: The manufacturing In 1998, we started the “10 this year. Some areas related to Mindustry has been talking about inute Loan Service” in which the SOA’s are worthy of research, such how to make the transition from entire process – from applying for a as how to maintain and increase “made in China” to “created by loan to receiving the money – took their value, how to use stock options China.” In your opinion, how can customers only 10 minutes. This as a new incentive for those who Chinese banks reach that goal? service, which aimed to increase our work as supervisors in SOA’s, and customers' financial liquidity, was Wang We should learn – from how to be creative in SOA :targeted at those who deposited western countries – how to administration. In addition, we can money or bought national treasury internationalize our banks, and combine our research into these bonds into our financial innovation to form areas with our knowledge of finance In 2004, we introduced our “One differentiated business pattern. But so as to better protect SOA’s. Life is Card Solution Service” which enabled there is also another point that is an ongoing process in which you our customers to pay all their utility often ignored: the need to discover need to constantly experience new bills, and even traffic tickets, in our the uniquely Chinese features of our things. This is what makes life bank – all by using one card. In the industry. worth liv ing. TheLINK August-September 200921
