July 5, 2005, the reporters in Shanghai Changshu Road shooting Green Bank to move the ribbon-cutting ceremony. On that day, by the Ping An Insurance Group and HSBC holdings of the two major financial institutions formally set up Ping An Bank headquarters in Shanghai.
Since China's accession to the WTO, the financial services industry consolidated operating gradually recognized by the public, many enterprises in the international experience under the reference also conducted many beneficial exploration. However, industry experts advise, although the comprehensive management of the international development trends, but its success or need to have many related to the external environment and internal conditions. Currently, some domestic enterprises in the comprehensive management of trying to exist in certain understanding or practice on the error.
"Tantaiqiuquan" could lead to economic scale
"Some domestic enterprises only know that the integrated financial management is the international trend, but ignores the financial needs of integrated operations is a lot of conditions. Some enterprises do not recognize the mainstream of the financial market business model should depend on the mainstream consumer demand, and the corporate choice should depend on In transaction costs and the appropriate scale border. "Peking University School of Economics, Risk Management and Insurance Department deputy director Zheng Wei in an interview with this reporter that now many domestic enterprises in the development of a" Tantaiqiuquan "the error.
And some foreign mature insurance market and operating environment compared to China's insurance industry as a whole is still in a preliminary stage. With peace, and China Everbright, such as CITIC Group in the financial road to comprehensive management has set a successful example, the market gradually emerged a trend: some companies that size and competitiveness has a direct relationship, so one-sided pursuit of scale, Blind expansion of business.
"As everyone knows this size preferences may also bring economic effect; compared with foreign companies in development is mainly based on considerations of efficiency, for example, that Citibank and Travelers Group of Jusan off." Capital Economic and Trade School of Economics, University of labor Zhu Jun, an associate professor of Health told reporters.
It is understood that the 1998 merger of Citicorp and Travelers Group, which owns the Travel insurance companies, investment firms Salomon Smith Barney was one of the largest U.S. insurance company, the second largest investment banks, the world's largest financial group Almighty Thus was born the company.
However, because of insurance business to Citigroup did not bring the expected gains, although Bishi integrated financial management has become a world trend, the separation of the two groups have quietly: Since 2002, Citigroup sold gradually travelers Property Insurance, Life insurance, annuity companies and asset management business, but retained the terms of the agreement, but cooperation from the equity method of cooperation to the channel at the same time, Citigroup along several business lines, continued to search for acquisition targets, Buy more specialized financial services leader.
"Citigroup's example can give us a lot of inspiration, now many domestic small and medium-sized companies in the pursuit of comprehensive management, the blind expansion of the scale, a great risk." Zhu said.
Need the greatest degree of understanding of each other's culture
"Financial Group to establish the biggest benefit is the integration of resources can play a role for life insurance, production insurance, trust, banking, securities, asset management, the Group under long-term development of optimal allocation of resources to play a 1 +1> 2 The effect. "Zhu Sheng said.
"Group of resource integration is indeed the most fundamental and core, if a group with subsidiaries in between can not do something on the integration of resources, just simply the administrative capital or bonds, then the group is a failure, only a framework Significance of it. "Zheng told reporters.
For the current domestic resources of some groups ability to integrate the weaker reasons, Zheng Wei of the main cultural conflicts, departmental interests of an industry in itself and the operational characteristics of the three factors. "In particular, this cultural conflict is the most important, but also usually ignored by most people. For example, banking and insurance in business philosophy, business characteristics of such areas is different, the former Bank of the life insurance industry in general 5-8 loss in the psychological Ready, waiting for the insurance of bank deposits, home of the exhibition industry in an understanding manner, and so on.smoothly if the two sides run-in, the development group will be very painful. "
In response, insurance and economic development of Chinese Academy of Social Sciences Research Center of the Secretary-General Guo also agreed that: "in the comprehensive management group, whether it is a different enterprise, or to different industries, operating in the concept, ideas and so on are all The differences, both sides need the greatest degree of understanding of each other's culture, this will ultimately affect the Group's business development and resource integration. "
Group internal agencies to prevent the risk of transmission
"Comprehensive management of financial enterprises, financial institutions will not only affect the operating efficiency, but will affect the financial enterprises are facing the risk of the nature and extent. Since the development of the business cycle different, objective financial enterprises in a variety of business can circumvent At the same time profitability losses, a hedge, the role of risk diversification. "Zhu said.
Guo Jinlong said that the integrated operation is conducive to the expansion of the scale of financial enterprises, with the expansion of business scale, the risk of resistance also will be enhanced.
However, the risk has always been a "double-edged sword" and "risk diversification" and "proliferation risk" and always accompanied by line.
"Therefore, the Group established a sound internal risk control system it is particularly important, this is also a lot of overseas success of the comprehensive management of the Group of normal practice. But many of the current domestic financial institutions, in particular medium-sized insurance companies, expansion in business, expanding its scale of , But no ability to control risks will enhance support to effect this is very dangerous. "Zheng told reporters that the comprehensive management of financial enterprises in the process of the financial groups within the various financial institutions of funds, increased business ties, various financial Expand the scale of institutions lead to complicated relations within the Group, the interests of inconsistency, which will bring potential risks Financial Group, thereby increasing the risks faced by financial groups.
"Establishment of such a risk control system has four aspects of the preparatory work needed, it is necessary to clear the financial enterprise risk management objectives; second is to establish a sound risk identification, early warning, control and treatment mechanism; third is to train high-quality Risk management personnel; four financial groups is to improve the internal organizational structure and management system, the establishment of 'firewall' systems to prevent the internal risk of transmission of financial institutions to prevent the risk of conflict of interest occurs. "Zhu said.
Since China's accession to the WTO, the financial services industry consolidated operating gradually recognized by the public, many enterprises in the international experience under the reference also conducted many beneficial exploration. However, industry experts advise, although the comprehensive management of the international development trends, but its success or need to have many related to the external environment and internal conditions. Currently, some domestic enterprises in the comprehensive management of trying to exist in certain understanding or practice on the error.
"Tantaiqiuquan" could lead to economic scale
"Some domestic enterprises only know that the integrated financial management is the international trend, but ignores the financial needs of integrated operations is a lot of conditions. Some enterprises do not recognize the mainstream of the financial market business model should depend on the mainstream consumer demand, and the corporate choice should depend on In transaction costs and the appropriate scale border. "Peking University School of Economics, Risk Management and Insurance Department deputy director Zheng Wei in an interview with this reporter that now many domestic enterprises in the development of a" Tantaiqiuquan "the error.
And some foreign mature insurance market and operating environment compared to China's insurance industry as a whole is still in a preliminary stage. With peace, and China Everbright, such as CITIC Group in the financial road to comprehensive management has set a successful example, the market gradually emerged a trend: some companies that size and competitiveness has a direct relationship, so one-sided pursuit of scale, Blind expansion of business.
"As everyone knows this size preferences may also bring economic effect; compared with foreign companies in development is mainly based on considerations of efficiency, for example, that Citibank and Travelers Group of Jusan off." Capital Economic and Trade School of Economics, University of labor Zhu Jun, an associate professor of Health told reporters.
It is understood that the 1998 merger of Citicorp and Travelers Group, which owns the Travel insurance companies, investment firms Salomon Smith Barney was one of the largest U.S. insurance company, the second largest investment banks, the world's largest financial group Almighty Thus was born the company.
However, because of insurance business to Citigroup did not bring the expected gains, although Bishi integrated financial management has become a world trend, the separation of the two groups have quietly: Since 2002, Citigroup sold gradually travelers Property Insurance, Life insurance, annuity companies and asset management business, but retained the terms of the agreement, but cooperation from the equity method of cooperation to the channel at the same time, Citigroup along several business lines, continued to search for acquisition targets, Buy more specialized financial services leader.
"Citigroup's example can give us a lot of inspiration, now many domestic small and medium-sized companies in the pursuit of comprehensive management, the blind expansion of the scale, a great risk." Zhu said.
Need the greatest degree of understanding of each other's culture
"Financial Group to establish the biggest benefit is the integration of resources can play a role for life insurance, production insurance, trust, banking, securities, asset management, the Group under long-term development of optimal allocation of resources to play a 1 +1> 2 The effect. "Zhu Sheng said.
"Group of resource integration is indeed the most fundamental and core, if a group with subsidiaries in between can not do something on the integration of resources, just simply the administrative capital or bonds, then the group is a failure, only a framework Significance of it. "Zheng told reporters.
For the current domestic resources of some groups ability to integrate the weaker reasons, Zheng Wei of the main cultural conflicts, departmental interests of an industry in itself and the operational characteristics of the three factors. "In particular, this cultural conflict is the most important, but also usually ignored by most people. For example, banking and insurance in business philosophy, business characteristics of such areas is different, the former Bank of the life insurance industry in general 5-8 loss in the psychological Ready, waiting for the insurance of bank deposits, home of the exhibition industry in an understanding manner, and so on.smoothly if the two sides run-in, the development group will be very painful. "
In response, insurance and economic development of Chinese Academy of Social Sciences Research Center of the Secretary-General Guo also agreed that: "in the comprehensive management group, whether it is a different enterprise, or to different industries, operating in the concept, ideas and so on are all The differences, both sides need the greatest degree of understanding of each other's culture, this will ultimately affect the Group's business development and resource integration. "
Group internal agencies to prevent the risk of transmission
"Comprehensive management of financial enterprises, financial institutions will not only affect the operating efficiency, but will affect the financial enterprises are facing the risk of the nature and extent. Since the development of the business cycle different, objective financial enterprises in a variety of business can circumvent At the same time profitability losses, a hedge, the role of risk diversification. "Zhu said.
Guo Jinlong said that the integrated operation is conducive to the expansion of the scale of financial enterprises, with the expansion of business scale, the risk of resistance also will be enhanced.
However, the risk has always been a "double-edged sword" and "risk diversification" and "proliferation risk" and always accompanied by line.
"Therefore, the Group established a sound internal risk control system it is particularly important, this is also a lot of overseas success of the comprehensive management of the Group of normal practice. But many of the current domestic financial institutions, in particular medium-sized insurance companies, expansion in business, expanding its scale of , But no ability to control risks will enhance support to effect this is very dangerous. "Zheng told reporters that the comprehensive management of financial enterprises in the process of the financial groups within the various financial institutions of funds, increased business ties, various financial Expand the scale of institutions lead to complicated relations within the Group, the interests of inconsistency, which will bring potential risks Financial Group, thereby increasing the risks faced by financial groups.
"Establishment of such a risk control system has four aspects of the preparatory work needed, it is necessary to clear the financial enterprise risk management objectives; second is to establish a sound risk identification, early warning, control and treatment mechanism; third is to train high-quality Risk management personnel; four financial groups is to improve the internal organizational structure and management system, the establishment of 'firewall' systems to prevent the internal risk of transmission of financial institutions to prevent the risk of conflict of interest occurs. "Zhu said.