Morning Meeting Sharing: Development and Challenges of China's Banking Industry

• Today's morning meeting focused on the development of China's domestic banking system. After decades of evolution, it has gradually developed from a single-function system under the planned economy into a multi-level system dominated by state-owned large banks, joint-stock banks, and city commercial banks. Its ability to serve the real economy has continuously improved, with remarkable achievements in digital transformation.

• Meanwhile, the industry faces challenges: deepened interest rate liberalization compresses interest margin space, fintech impacts traditional business models, and the pressure of non-performing asset management remains. In the future, it needs to drive transformation through innovation, balance risks and development, and better play the core role of financial services in high-quality economic development.