Core Viewpoint - The banking industry is undergoing a "de-involution" movement aimed at curbing "involution-style" competition, which has led to irrational practices such as commission payments to real estate companies and intermediaries [1][2][4] Group 1: Regulatory Actions - The Zhejiang Provincial Banking Association has issued a self-regulatory convention prohibiting commission payments to real estate firms and intermediaries, targeting practices like "commission grabbing" and "dark box operations" [1][2] - Other regions, including Guangdong and Ningxia, have also taken similar actions to promote rational development in the banking sector [2] Group 2: Nature of "Involution" Competition - "Involution-style" competition refers to low-level homogenized competition in a saturated market, characterized by blind expansion, price wars, and excessive marketing [2][4] - Practices such as "commission grabbing" involve banks paying commissions to intermediaries based on loan amounts, which are often hidden from regulatory scrutiny [2][3] - "Dark box operations" occur when banks bypass public regulations to provide undue benefits to specific clients or partners, often through undisclosed agreements [3][4] Group 3: Impact on the Banking Sector - The "involution" phenomenon has led to adverse effects at various levels: micro-level issues include "bad money driving out good," while macro-level issues involve distorted resource allocation and suppressed economic vitality [4][6] - Factors contributing to the persistence of "involution" include a significant decline in net interest margins, increased pressure on banks to stabilize income and profits, and a performance evaluation system that emphasizes scale and speed [4][5] Group 4: Risks and Consequences - "Commission grabbing" distorts mortgage rate pricing, leading to higher overall financing costs for borrowers, as intermediaries may pass on hidden costs [6] - The practice can also trigger malicious competition, where intermediaries select partners based on commission rates, ultimately increasing operational costs for banks and affecting consumer interests [6][7] Group 5: Future Directions - To address the "involution" issue, industry experts suggest establishing a three-dimensional governance framework that includes regulatory guidance, industry collaboration, and institutional transformation [7] - The transition from a focus on scale to value creation is essential for reshaping a healthy banking ecosystem, although it may involve short-term challenges such as customer loss and performance declines [7]

银行业"内卷式"竞争在多个领域有不同表现。首先是高息揽储和低息放贷，这也是"内卷式"竞争集中的 领域。近年来，金融管理部门就规范存款竞争出台多项举措，但仍有个别银行以高息揽储来提高存款市 场竞争力。同时，个别银行简单通过降低贷款利率来吸引融资客户。其次是高返佣。为稳定市场占有率 或者吸引客户，银行在房贷、车贷等业务发展中通过返高额佣金等方式开展中介合作，扰乱正常的市场 秩序。再次是为了"冲时点"。在月末、季末等时点表现得更明显，银行和客户合作通过"购买存款"等方 式，以实现特定时点经营指标有效完成。最后是放松风控要求。为拓展市场，个别银行弱化贷款的信用 风险管理要求，信贷资金没有有效流向高效利用的领域。 银行业"内卷式"竞争是多种因素影响下出现的。从宏观方面看，全球经济增长面临压力，影响包括我国 在内的经济增长。为稳定经济增长，货币政策降息，低利率环境下银行业净息差收窄。从行业层面看， 银行业净息差大幅下降，稳定收入利润压力较大，加上金融服务同质化特点突出，从而简单采用价格战 开展市场竞争。从机构方面看，部分银行难舍"规模情结""速度情结"，绩效考核机制设计不科学，以业 务规模、增速为核心指标，导致员工通过低 ...

Core Viewpoint - The banking industry is urged to combat "involution" by adhering to self-regulatory mechanisms, implementing relevant interest rate policies, and establishing reasonable incentive structures to promote rational and healthy competition, ultimately serving economic and social development better [1] Group 1: Manifestations of "Involution" in Banking - "Involution" in the banking sector is primarily reflected in high-interest deposit acquisition and low-interest lending, with some banks still using high-interest rates to attract deposits despite regulatory measures [2] - High commissions are offered by banks to stabilize market share or attract customers, disrupting normal market order [2] - Banks exhibit "window dressing" behaviors at month-end or quarter-end to meet specific operational targets, often through practices like "buying deposits" [2] - Some banks relax risk control requirements to expand market reach, leading to ineffective credit risk management [2] Group 2: Factors Contributing to "Involution" - Global economic pressures are impacting growth, leading to a low-interest environment that compresses net interest margins for banks [3] - The significant decline in net interest margins and the homogeneity of financial services compel banks to engage in price wars for market competition [3] - Some banks are driven by a "scale obsession" and "speed obsession," with performance evaluation mechanisms focusing on business scale and growth rates, prompting employees to use low prices and high commissions to attract clients [3] - Increased sensitivity of enterprises and individuals to interest rate changes, coupled with high substitutability of financial services, makes price a crucial decision factor, further driving "involution" [3] Group 3: Negative Impacts of "Involution" - "Involution" reduces asset yield for banks and increases liability costs, intensifying downward pressure on net interest margins, which is detrimental to sustainable development and service to the economy [4] - The homogeneity of competition fails to meet the personalized financial service needs of clients, while the "quantity for price" model can lead to funds flowing into arbitrage areas, hindering effective fund utilization [4] - Inadequate credit risk management in lending can accumulate risks, increasing instability in economic development [4] - Distorted performance evaluation mechanisms place unnecessary pressure on employees, leading to potential violations [4] Group 4: Measures to Address "Involution" - The banking industry must correct its development philosophy, operate in compliance with laws, eliminate "scale obsession" and "speed obsession," and maintain good market competition order [5] - Banks should enhance research efforts and innovation capabilities to provide high-quality financial services tailored to various entities [5] - Regulatory bodies need to enforce strict oversight, establish a negative list for "involution" competition, and address price wars through timely inspections and penalties [5] - The banking association and market interest rate pricing self-regulatory mechanisms should be effectively utilized to promote healthy market competition through industry consensus [5] - Strengthening external supervision is essential to guide market participants in monitoring banking financial services and competition [5]

Core Viewpoint - The article discusses the ongoing "anti-involution" measures in the banking industry, emphasizing the need for improved market competition and the regulation of chaotic competition among enterprises [2][3]. Group 1: Industry Trends - The anti-involution actions in the banking sector are expanding both regionally and across different industries, with major banks like ICBC taking the lead in addressing this issue [3]. - A significant factor contributing to the internal competition in the banking sector is the insufficient effective credit demand, leading banks to compete aggressively for high-quality clients [4][5]. - The People's Bank of China (PBOC) has noted that severe internal competition is affecting the effectiveness of monetary policy, with loan rates declining faster than deposit rates [5][10]. Group 2: Causes of Involution - The internal competition in the banking industry is driven by several objective factors, including economic adjustments and increased competition from non-bank financial institutions [3][5]. - The decline in consumer borrowing and the resulting lower interest rates on loans are indicative of the industry's struggle to maintain profitability amidst heightened competition [5][10]. Group 3: Regulatory Responses - Various regional banking associations are implementing self-regulatory agreements to combat internal competition, focusing on retail banking while also addressing corporate banking practices [6][7]. - The effectiveness of these self-regulatory measures may be limited if they are not supported by national policies and regulatory oversight [8][9]. Group 4: Future Outlook - The ongoing anti-involution efforts are seen as necessary for the long-term health of the banking sector, as excessive competition can undermine profitability and hinder talent attraction [9][10]. - The current environment presents both challenges and opportunities for smaller banks, prompting them to consider restructuring and focusing on niche markets [12].

每经记者｜张寿林 每经编辑｜张益铭 记者注意到，近期，银行业"反内卷"呼声越来越高。就在数日前，宁波市银行业协会组织辖内57家银行 机构开会，要求银行机构共同防止"内卷式"恶性竞争。 工商银行公开明确表达带头整治"内卷式"竞争，在行业内激起大的反响。 某大行深圳分支机构行长向记者表示，事实上，各大行已经开始着手整治"内卷式"竞争，一些地区甚至 暂停了部分竞争激烈、需防范风险的业务。 另有大行分支机构行长向记者表示，针对的就是价格战。他说，在行业"内卷式"竞争下，贷款利息、债 券利息，基本都不赚钱。 记者注意到，7月25日，宁波市银行业协会召开《宁波银行业个人住房贷款业务自律公约》（以下简称 《公约》）推进会，辖内57家银行机构参加会议。宁波金融监管局机构监管处室相关工作负责人出席会 议。大型银行处处长姚达从银行业"内卷式"竞争的危害、产生原因、表现形式等角度出发，要求银行机 构落实《公约》相关要求，共同防止"内卷式"恶性竞争。 《公约》从落实贷款"三查"、防范恶意竞争、健全合作机制等方面对银行机构个人住房贷款业务进行了 规范，重点对银行机构与房地产相关机构及其从业人员之间存在的返佣乱象进行整治。《公约》将由银 ...

智通财经7月31日讯（记者 梁柯志）7月30日，中央政治局会议再次提到反内卷部署，强调"推动市场竞争秩序持续优化。依法依规治理企 业无序竞争"。 智通财经记者注意到，种种迹象表明，银行业反内卷行动已向区域和行业纵深铺开。 在区域层面，不久前广东打响银行保险全面反内卷自律第一枪之后，部分地区银行业协会开始跟进。在行业层面，7月30日刚刚结束的年 中工作会议上，"宇宙行"工商银行明确要求带头整治"内卷式"竞争，成为首家将反内卷列入下半年工作重点的国有大行。 7月31日，某上市银行董办负责人对智通财经表示，从供给端看，现在银行天量的资金供给没有"好的出处"，贷款可能是各家银行收益相 对高的配置选择，价格内卷也是各家银行"无奈选择"。 7月30日，山东某地方监管人士对智通财经表示，金融业与产业端是一体，如今各行各业都卷，银行业也在所难免。 该人士表示，经过调研发现银行业"卷"的原因存在于若干客观因素，一是近年经济调整，地产行业在内的传统业务受到挤压，机构业务 风险敞口加大；二是来自于同业的竞争加剧，同时类影子银行和非银机构的竞争，加剧行业内卷度；第三方面，随着银行业降薪，业务 一线员工收入受影响，在一定程度推动追求业 ...

Core Viewpoint - The banking industry is facing intense competition characterized by price wars and a struggle for quality customers, leading to a phenomenon known as "involution" which is detrimental to long-term profitability and resource allocation efficiency [1][2][3]. Group 1: Industry Challenges - The banking sector is experiencing a downward trend in loan interest rates, with some banks offering rates as low as 2.5% for business loans, leading to a competitive environment where banks are forced to lower rates to retain customers [2][3]. - The net interest margin for banks has dropped to 1.43% in the first quarter, indicating shrinking profit margins due to intense competition and price wars [3]. - The internal competition has led to a "prisoner's dilemma" where banks are aware that price wars harm overall industry profits but feel compelled to follow suit to avoid losing market share [4][5]. Group 2: Recommendations for Improvement - Experts suggest that financial management departments should implement strong measures to create a multi-tiered, widely covered, and differentiated financial institution system to better serve various customer groups [1][6]. - There is a call for a shift in performance evaluation from a scale-oriented approach to one focused on quality and efficiency, incorporating risk-adjusted returns and customer value contributions into assessment criteria [6][7]. - The restructuring of business models is recommended, moving from a scale-driven to a value-driven approach, emphasizing the profitability of individual customers and reducing reliance on single credit products [6][7].

Core Viewpoint - The banking industry is facing intense competition characterized by price wars and a struggle for quality customers, leading to a common dilemma of "involution" that requires a systemic approach to break free and achieve high-quality development [3][4][6]. Group 1: Involution Challenges - The competition for quality customers has intensified, with some banks offering consumer loan rates as low as 2.6% earlier this year, only to see rates rise above 3% by April, and then drop again to around 2.5% for business loans in July [4][5]. - Many banks are resorting to high-interest deposit strategies at the end of assessment periods to attract customers, leading to a significant decline in net interest margins, which fell to 1.43% in the first quarter [5]. - The internal competition is exacerbated by a "prisoner's dilemma," where banks are aware that price wars harm overall industry interests but feel compelled to follow suit to avoid losing market share [6][7]. Group 2: Recommendations for Improvement - Experts suggest that financial management departments should implement strong measures to create a multi-layered, widely covered, and differentiated financial institution system, allowing institutions to provide tailored products and services based on market and customer needs [2][8]. - There is a call for a shift in performance assessment from a scale-oriented approach to one focused on quality and efficiency, incorporating risk-adjusted returns and customer value contributions into evaluation systems [8][9]. - The restructuring of business models is recommended, moving from scale-driven to value-driven strategies, emphasizing the profitability of individual clients and reducing reliance on single credit products [9].

Core Viewpoint - The article discusses the rising issue of "involution" in the banking industry, highlighting how irrational competition is driving up operational costs and eroding industry profits, leading to a call for self-regulation and measures to combat this trend [1][2]. Group 1: Industry Response to Involution - Various banking associations across China are taking a stand against "involution" by implementing self-regulatory measures, such as the "Self-Regulatory Convention for Personal Housing Loan Business" in Ningbo, which aims to curb rebate practices and promote fair competition [1][2]. - The Guangdong Banking Association has initiated a comprehensive rectification plan against "involution," establishing a regulatory framework that includes a negative list of practices and self-regulatory agreements [2][3]. - The Ningxia Banking Association has introduced a four-step governance mechanism to restore compliance and innovation in the banking sector, focusing on market order and sustainable development [2][3]. Group 2: Consequences of Involution - Short-term gains from violating regulations and lowering standards can lead to market share increases for some institutions, but ultimately these practices deplete industry profits and compromise service quality [3]. - Long-term effects of "involution" include weakened risk management and potential systemic risks, threatening the sustainable development of the banking industry [3]. - The need for enhanced self-regulation and differentiation in services is emphasized, with calls for major commercial banks to lead by example and avoid price wars [3].