工行带头表态：整治“内卷式”竞争！

Core Viewpoint - The major state-owned banks in China, particularly the Industrial and Commercial Bank of China (ICBC), are prioritizing the "anti-involution" initiative as a key focus for the second half of the year, aiming to address irrational competition and stabilize the banking sector [1][2]. Group 1: Industry Response - ICBC has explicitly stated its commitment to "rectifying 'involutionary' competition" and ensuring effective implementation of economic policies to stabilize its operations [1]. - The president of ICBC, Liu Jun, previously emphasized the need for self-regulation in the banking sector to avoid price wars, indicating a broader industry trend towards maintaining order and preventing excessive competition [2]. - Other state-owned banks, such as the Agricultural Bank of China, have also expressed intentions to manage pricing collaboratively to prevent market disorder, highlighting a unified approach among major banks [2]. Group 2: Regulatory Environment - Following the Central Financial Committee's emphasis on regulating low-price and disorderly competition, various banking associations across the country have initiated self-regulatory measures to combat "involution" [2][3]. - The Guangdong Banking Association has introduced a self-regulatory convention aimed at curbing unfair competition and maintaining market order [3]. - The Ningxia Banking Association has stressed the importance of adhering to national laws and self-regulatory agreements to enhance industry efficiency and sustainability [3]. Group 3: Underlying Issues - The banking sector has been facing challenges such as irrational price wars, risk management laxity, and service homogenization, primarily due to insufficient effective demand and declining interest rates [4]. - The industry's blind pursuit of scale and reliance on traditional paths have led to a vicious cycle of competition characterized by price cutting and risk accumulation [4]. - Experts suggest that a dual approach of blocking harmful practices while fostering new pathways is essential for breaking the cycle of "involution" and promoting high-quality development in the banking sector [4].