银行“反内卷”到底是在“反”什么？

Core Viewpoint - The banking industry is experiencing a shift towards "anti-involution" as banks face intense competition, leading to a focus on high-quality development, cost reduction, and retail transformation [1][2][21]. Group 1: Industry Trends - The term "anti-involution" has gained popularity in the banking sector, indicating a move away from excessive competition that harms profitability [2][12]. - The Guangdong Banking Association has initiated a comprehensive rectification of "involutionary" competition, proposing a regulatory framework to address negative practices [2][4]. - The current competitive landscape is characterized by asymmetric declines in deposit and loan interest rates, resulting in a narrowing net interest margin [4][10]. Group 2: Competitive Practices - Banks are engaging in aggressive pricing strategies, with some offering consumer loan rates as low as 2.6% and business loan rates between 2.3% and 3% [4][10]. - The competition has led to a situation where some banks are offering loans at rates below their cost of funds, which is unsustainable [10][11]. - The People's Bank of China has noted significant discrepancies between policy interest rate adjustments and actual loan rates, highlighting the impact of fierce competition [10]. Group 3: Regulatory and Self-Regulatory Measures - The banking industry is implementing self-regulatory agreements aimed at promoting rational pricing and curbing unethical marketing practices [5][21]. - The focus on self-regulation is seen as essential for maintaining a healthy competitive environment and ensuring sustainable growth in the banking sector [4][19]. Group 4: Future Outlook - The "anti-involution" movement is expected to positively impact the banking sector's profitability, with projections indicating an 8% potential increase in earnings by 2026, particularly benefiting joint-stock banks [21][22]. - The emphasis on high-quality development and service to the real economy is expected to drive banks' performance in the coming years [19][21].