深观察｜反“内卷”！广东银行保险业如何打响第一枪？

Core Viewpoint - The Guangdong financial regulatory authority is taking significant steps to combat "involution" in the banking and insurance sectors, promoting healthy competition through the issuance of negative lists and self-regulatory agreements [2][3][6]. Summary by Sections Regulatory Actions - The Guangdong Financial Regulatory Bureau has clearly opposed "involution" competition and is implementing a negative list for the banking and insurance industries to guide associations in formulating self-regulatory agreements [3][4]. - A total of 125 penalty decisions were made in the first half of the year, affecting 129 institutions and 212 individuals, with 6 individuals banned from the industry [3]. Self-Regulatory Agreements - The "Guangdong Banking Industry Self-Regulatory Agreement" consists of five parts, detailing self-regulatory requirements across eight aspects, including both advocacy and prohibitive measures [4][5]. - The "Guangdong Insurance Industry Self-Regulatory Agreement" addresses issues such as expense management and business norms, explicitly prohibiting practices like excessive rebates and misleading advertising [6][17]. Industry Challenges - The banking sector is facing significant "involution" issues, characterized by price wars, homogeneous services, and unregulated expansion, which are accumulating risks and harming overall industry interests [3][5]. - The insurance industry is also experiencing "involution," primarily through price competition and excessive expense management, leading to a need for regulatory intervention [17][21]. Future Directions - The banking sector plans to implement a "1+3+N" system to comprehensively address "involution," with "1" representing the issuance of a negative list, "3" referring to self-regulatory agreements, and "N" indicating additional self-regulatory measures across various business areas [7][9]. - The focus will be on developing differentiated products and services to break the cycle of "involution," emphasizing quality over quantity in competition [14][15].