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Abstract
It was proposed that the principal contradiction in our society exists between the
people's increasing demand for better life quality and the imbalanced and inadequate of
economic and social development on the 19th congress of the communist party of China.
At present consumption financial is developing unbalanced and inadequate in our
country. This phenomenon is mainly manifested that the consumption credit business of
commercial banks is focus on the high-income groups and the consumption credit
demand of the low-income class has not been effectively meet thus dampening the
consumption’s pulling effect on the economy. On the other hand, along with the rapid
development of internet financial, consumer finance companies and small loan
companies etc., commercial banks are facing unprecedented pressure of competition.
Commercial banks must accelerate the pace of transformation and innovation so as to
get out of the shackles of development of traditional consumption credit business.
Therefore, guided by the theory of financial inclusive growth and theory of long tail,
commercial banks should increase the pace of innovation and transformation, widen the
channel of the consumer credit customer, endeavoring geared to the needs of
low-income groups in the consumer credit business under the premise of controllable
risk. All of this is not only the objective requirement of economic and social
development in the new era, but also the inner demand of commercial bank to practice
concept of inclusive finance and seek for the of new economic growth point.
Under the background of economic development mode transforming from the
pattern of the export and investment-driven to consumption-driven and the rapid
development of Internet financial, guided by the financial inclusive growth theory and
the long tail theory, the paper interprets the necessity and feasibility of the commercial
banks to expand consumer credit business to the low-income group. Based on the
general analysis on the present developing situation, existing problems, the bottleneck
and obstacle in the development process of commercial banks’ consumer credit business
in our country, using the research methods of typical case analysis, this thesis introduces
the successful experience of Ningbo bank whose consumer credit business is in the
forefront of the whole industry. After analyzing its development present situation and
characteristics of consumer credit business with the help of a large number of detailed
data, the paper takes consumer credit products of tax bureau-bank e credit as example,
promoting its innovative ideas and business characteristics of consumer credit business
for long-tail customers. At last, referencing the innovation practice of consumer credit
product with characteristics of inclusive finance of ICBC and BC in recent years, the
paper puts forward to countermeasures and suggestions so as to promote the consumer
credit business innovation of commercial bank in our country under the new normal
development.
The thesis comes to the conclusion at last that commercial banks must carry on
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both strategic and tactical planning in order to remain invincible in the fierce market
competition. First of all, they should recognize the importance of consumer credit
business from a strategic height and carry out the top-level design in the different
developing strategy and business model; Secondly, they should continuously sink work
focuses on exploring potential in the long-tail customer area and pay attention to risk
control so as to realize business sustainability in implementing the concept of inclusive
finance. While giving full play to their advantages, they should make rational use of
external resources and actively connect with government departments and Internet
e-commerce platforms so as to achieve complementary advantages and win-win
cooperation.
Keywords: Inclusive finance; Long-tail theory; Internet finance; Consumer credit
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