Core Viewpoint - The banking industry's "anti-involution" movement aims to transition from a focus on scale and price competition to a model centered on value creation and service differentiation, ultimately promoting sustainable development in the sector [1][2][17]. Summary by Sections Current Challenges in the Banking Industry - The banking sector is facing a "trilemma" where it must balance the need to lower interest rates for the real economy, the limited growth in market demand, and the pressure to expand scale to maintain competitiveness [1][2]. - The term "involution" was first used by the People's Bank of China in 2024 to describe the severe competition in the banking sector, leading to a rapid decline in loan rates while deposit rates remain stagnant [3][11]. Key Areas of Focus for "Anti-Involution" - The regulatory focus is on curbing irrational price competition, which has led to unsustainable practices such as excessive discounting and high returns to attract customers [2][5]. - Specific actions include prohibiting banks from using gifts or excessive incentives to attract deposits, as well as regulating loan pricing to ensure it reflects actual costs and risks [6][7]. Root Causes of Involution - The core issue stems from a structural imbalance in the banking sector, where banks are overly focused on scale and market share, often at the expense of service quality [10][11]. - The average net interest margin for commercial banks has declined to 1.42% as of Q2 2025, indicating a shrinking profit margin and increasing pressure on banks to compete on price [11][12]. Strategies for Breaking the Cycle - Regulatory measures are being implemented to reshape the competitive landscape, including self-regulatory agreements and guidelines to prevent harmful competition [18][19]. - Banks are encouraged to enhance their service offerings and differentiate themselves through specialized and personalized financial services, moving away from a one-size-fits-all approach [20][21]. Future Directions - The banking industry is urged to adopt a multi-layered service model that includes basic, professional, and specialized services to escape the price war trap [20]. - Emphasis is placed on improving service capabilities and creating value through tailored financial solutions that meet the diverse needs of clients [21].
银行全面“反内卷”
21世纪经济报道·2025-08-22 23:55