广东银行业，打响“反内卷”第一枪！

Core Viewpoint - The banking industry is experiencing a shift away from "involutionary" competition, with initiatives being taken to address issues such as asymmetric interest rate declines and narrowing net interest margins [1][10][14]. Group 1: Industry Response - The Guangdong Banking Association held a meeting on July 17 to discuss the comprehensive rectification of "involutionary" competition, led by the association's president [4][10]. - The meeting emphasized the need for self-regulation within the industry to combat "involutionary" competition, with various committees pledging to take action [10][11]. - Ping An Bank's Guangzhou branch has actively responded to the initiative by holding a meeting to promote the anti-"involution" campaign [10][11]. Group 2: Current Market Conditions - The banking sector is facing intense competition, leading to a price war characterized by declining loan interest rates and a slowdown in net income growth [1][11]. - Consumer loan rates have dropped significantly, with some banks offering rates as low as 2.5% to 2.8%, raising concerns about profitability [11][12]. - The People's Bank of China has highlighted the disparity between the decline in loan rates and the relatively stable deposit rates, indicating severe competition within the banking sector [13][14]. Group 3: Underlying Causes of Involution - The deeper causes of "involution" in the banking sector include a lack of differentiated competition and an imbalance between supply and demand due to insufficient effective consumer demand [14][15]. - The market is increasingly dominated by traditional deposit and loan services, with banks relying heavily on net interest income, leading to similar business models and services [15][16]. - Large banks have been encroaching on the market share of smaller banks, forcing them to lower prices to maintain competitiveness, further exacerbating the "involution" phenomenon [15][16].