Li Jizhu, chairman of the Hong Kong Association of Banks, delivered a public welfare speech on Hong Junpei Culture and Education Foundation.

Li Jizhu, chairman of the Hong Kong Association of Banks, delivered a public welfare speech on Hong Junpei Culture and Education Foundation.

(Taiwan Business Daily News) on April 13, the Hong Junpei Culture and Education Foundation and the Taiwan Business Daily invited Dr. Li Jizhu, chairman of the National Federation of Banks and Commercial Associations, to give a lecture on "Banking Operation, Innovation and Breakthrough." chairman Li Jizhu has been successful in financial research and banking management for many years, has rich academic experience, has excellent lectures, and has benefited a lot from the public.

Dr. Li Jizhu, chairman of the National Federation of Banks, started with Taiwan's financial environment and related economy. He said that Taiwan's economic growth has slowed down in recent years, and its exports are not enough, which is largely due to its original poor physique or structure. First of all, export products are concentrated, more than 50% of them are concentrated in electronics, plastics, chemistry, optics and other industries, and more than 50% of enterprises adopt the mode of "Taiwan taking orders and China's exports". The proportion of intermediate wealth is high, and it is easy to be affected by the boom. for example, the European debt problem has led to a decline in the notebook market in Europe and the United States, and Taiwan's spare parts export market is naturally not good. At present, the mainland's economy is taking off, and many products in the middle and upper reaches can be produced on their own. In the face of price-cutting competition from China, Taiwan naturally does not have much competitive advantage under these conditions.

In addition, most of Taiwan businessmen produce contract manufacturing industries such as low added value and low gross profit margin, resulting in the phenomenon that Taiwan businessmen can only seek low labor costs in the mainland or Southeast Asia, and there is no real benefit to Taiwan in creating jobs. In terms of global economic and trade cooperation, in the global economic reshuffle, seeking cooperation and global bilateral and regional agreements have become a trend. Taiwan's market is not decentralized enough, and the efficiency of participating in multilateral economic negotiations is too slow (different from South Korea's national conditions). China, Japan and South Korea are all talking about FTA, and Taiwan's slow efficiency may face the crisis of marginalization. Before ASEAN RCEP did not join, Taiwan is now facing a dilemma of disadvantage, such as services and trade issues, signing FTA, joining TPP, and so on. Maybe it's time for the people to make a choice.

Li Jizhu, chairman of the National Federation of Banks' Association, delivered a public speech: Taiwan has an advantage in cross-strait financial opening up.

In recent years, economic and trade exchanges between entities between the two sides of the strait have become increasingly close, and related financial services need to be in place in order to give full play to the comprehensive effect. In 2009, Jiang Chen will sign an agreement on cross-strait financial cooperation, laying the foundation for cross-strait financial cooperation. In November of that year, the Financial Supervision and Administration Commission signed the cross-strait financial MOU, opening up mutual branches and equity investment, and establishing the basis for the follow-up construction of a financial supervision platform between the two sides of the strait to discuss market access issues. In 2010, when the two sides signed the Cross-Strait Economic Cooperation Framework Agreement (ECFA), Taiwan's financial services industry won 10 preferential measures to open two-way financial exchanges between the two sides of the strait. The three gold and silver meetings and the first gold and silver meetings that followed have established the commitment to the opening up of the financial services industry in the cross-strait trade in services agreement, further promoting cross-strait financial cooperation to enter an institutionalized stage of development. On June 21, 2013, the two sides signed the Cross-Strait Trade in Services Agreement. In the financial services sector, the mainland side made one, six and eight opening commitments to China in the insurance industry, the banking industry, and the securities and futures industry, respectively. On the other hand, we have made nine opening commitments to the mainland side. The two sides of the strait have complementary advantages and work together to provide more profits for our industry and the general public.

Dr. Li Jizhu, chairman of the National Federation of Banks' Associations, who is a scholar, has had early contact with the mainland's financial industry. It has been nearly 20 years since the first "Cross-Strait Financial academic Seminar" was held in 1994, and she has often been invited to serve as the opening speaker, so she has received high praise in the mainland's industrial and official circles. Li Jizhu said, "sensitive issues depend on how you talk about them. As long as they are professional enough, the two sides have the sincerity to cooperate and look at things from a higher perspective and pattern, a lot of things can be discussed." The situation on both sides of the strait is different. Because Taiwan started relatively late in the mainland market, and the two sides of the strait have different commitments in WTO, for example, we allow foreign investment, we can directly set up branches or sub-branches without setting up offices, and we can immediately do Taiwan dollar business, but the mainland requires foreign investors to have offices for two years, and the branches can only be accepted as RMB business after three years. Coupled with the differences in market size, institutional size, and ownership structure of the financial industry between the two sides of the strait, it will be very difficult for ROC operators to develop in the mainland if they directly follow the WTO standards.

At present, the mainland is carrying out financial reform. Li Jizhu believes that Taiwan's financial services have its advantages, and Taiwan is still more advanced than the mainland in many aspects, such as credit cards, wealth management, fund management, and so on. Mainland China Merchants Bank is an example. It has gone from a small bank to the bank with the largest number of credit cards issued on the mainland, and it is also the most profitable. Although its scale is far smaller than that of the four major banks on the mainland (China Industry and Commerce, China Construction, Chinese Farmers, and China), credit cards can do first, in which the head of their credit card department is Taiwanese, and credit card information systems and marketing strategies are all planned and constructed with the help of Taiwanese. It is obvious that Taiwan's financial institutions still have a niche in many areas.

The two sides of the strait should enlarge the pattern and raise their horizons, and the two sides should show their respective advantages to cooperate with each other, with the goal of accelerating the promotion of the international competitiveness of their financial industries. This is the original intention of cross-strait exchanges, rather than finding each other's weaknesses. Let each other develop very hard. Taiwan's existing seven bank offices have been upgraded to branches, which should not have much impact on the mainland. The mainland can be more generous and share the market with Taiwan. On the contrary, what the mainland really needs is Taiwan's experience and talents.

For example, many things that have happened in the mainland have happened in Taiwan before, or some structures are very similar, such as the stock market draw and the retail-dominated stock market, the investment mentality is also very similar. Such commonality is the "cultural similarity" that fosters this group of people. The road that Taiwan has tested, tested, and traveled should be valuable reference information for the mainland.

Not only the past experience can be used for reference, in the future, Taiwan will also have the experience of new financial business development earlier than the mainland, which can be shared. In addition to business, there is also the establishment of a financial system, such as a credit insurance mechanism for small and medium-sized enterprises, or a central deposit insurance system being planned in the mainland. Therefore, the two sides should take a long-term view, enlarge the pattern, and cooperate in good faith with their respective advantages to enhance international competitiveness.

Taiwan's financial industry is the next wave of important industries, but it is a fact that there is no international competitiveness, and it is impossible to encourage them to go to financial centers such as New York and London. "for the financial industry to thrive, it needs to be nurtured by the market. The mainland market provides an opportunity for Taiwan's financial industry to grow gradually. " The two sides share the same language and culture, and their mastery of social structure is better than that of other foreign investors, which is very important to the development of the financial services industry.

After all, mainland finance started relatively late, so most of the goods that the mainland has just opened up are very mature products in Taiwan, such as credit cards. With regard to these mature commodities in Taiwan, Taiwan-funded banks are competitive in the mainland market, and only when they are competitive can they have the opportunity to make money and be able to make further development.

Then, with the gradual opening up of the mainland's financial business, Taiwan's financial industry can plant its own competitiveness step by step! So Li Jizhu believes that the mainland is an opportunity for Taiwan's financial industry to catch up with advanced countries in Europe and the United States.

Dr. Li Jizhu, Chairman of the National Federation of the Association of Banks

Dr. Li Jizhu, chairman of the National Federation of Banks, has been a legislator, a professor of the National University for more than 10 years, a visiting scholar of the Economics Department of Harvard University and Stanford University, a vice chairman of the Financial Supervision and Administration Committee of the Executive Yuan, the chairman of the Financial Research and Development Fund Management Committee, the chairman of the Insurance Development Foundation, the chairman of Chunghwa Post, the chairman of the Youth Commission of the Executive Yuan, and the director of Zhaofeng Financial Control. Resident supervisor of cooperative treasury bank, director of Chunghwa Telecom, etc. He is currently chairman of the Taiwan Financial Control and Bank of Taiwan, chairman of the National Federation of the Bank of China Commercial Association, director of the Taiwan Stock Exchange, director of the Financial Joint Credit Center of the consortium, member of the steering Committee of the National Palace Museum, steering committee of the Taiwan Financial Research and training Institute, and advisory committee on industrial development of the Ministry of Economic Affairs. He has won the Outstanding Research Professor Award of the National Chengchi University, the Top Ten Outstanding Youth Awards of the World in Cannes, France, the Eisenhower Award of the United States, the Fulbright Award of the United States, the Top Ten Outstanding Youth of the Republic of China, the first Class Merit Medal of the Executive Yuan and other honors such as the Best Financial and Economic legislator.

Hong Junpei Culture and Education Foundation 103 commonweal speech