【正文】 owever, as the local capital market gradually matures and the ine and wealth of Chinese households continue to grow apace, the banks find growing business opportunities in consumeroriented financial services such as mutual funds, mortgage financing, wealth management, and personal loans. These are also areas of financial services where the newly arrived foreign banks aim to capture with their petitive , both for seeking new sources of profit growth and achieving a more diversified and balanced revenue base, as well as for meeting the petition from foreign banks head on, the Chinese banks are pelled to seize the opportunity and meet the challenge to embark on the path of a strategic transformation of the traditional business model toward retailing thrusts of retail banking include credit card, personal loans, and wealth management, mutual fund, insurance products and other products generating feebased ine. Retail banking, in turn, has called for greater investment in information technology to develop efficient systems in processing personal loan, inter banking, and telebanking, as well as improve the efficiency of retail works to better serve the needs of retail state mercial banks like CCB have also initiated special programs to cater to the need of small and medium enterprises, SMEs. In addition, they have started to branch out into new areas of financial services, thus gradually and steadily moving toward universal banking enpassing investment banking, issuance, securities, private banking, and financial have also started to grow overseas business either by establishing more new overseas branches or through merging and acquisitions of foreign financial entities. 4. Conclusion: Assessment of Bank Performance The strong financial performance of large state banks was carried into the first half of 2020 even as growth slowed by nearly 2 percentage points to % from the first half of 2020 due to a bination of falling external demand and tighter credit policy. In the first half of 2020, profit (profit after tax) grew, respectively, % for CCB, % for ICBC, and 36% for BOC over a year ago. Although the reduction of corporate ine tax from 33% to 25% accounted for partly the increase in profit, but 8 the key underlying factors driving profit growth remained the same as the last year. First, interest ine continued to benefit from rising interest margins as well as rapid asset growth and still is the main source of operating ine, possibly for the foreseeable future. Second, fee and mission ine again witnessed an explosive growth: CCB, %。 CCB, October 2020。 Prasad, 2020).Indeed, not too long ago, China’ s state banks were deemed “ technically insolvent” and their survival hinged solely on the nation’ s abundant , after the launching of banking reform, strong profitability has returned to state mercial banks recently. But it may be too early to declare a plete victory on banking reform as yet, since Chinese state banks have embarked on the path of reform not too long ago. In addition,their strong financial performance has ridden on the back of strong but unsustainable growth. As growth has begun to soften under the weight of a global recession in 2020, banks are expected to navigate in a more difficult economic terrain than hitherto. The aim of this paper is not to evaluate the effect of banking reform on bank performance, which is better tackled after the pletion of a full credit cycle. Rather, our aim is to take stock of the progress in reforming China’ s state banks by reviewing the banking reformstrategy and analyzing their recent strong postreform financial performancewhich, however, cannot be entirely separated from reforms efforts undertaken thus far. This paper has three sections. In Section 2, we review the reform strategy of China’ s large state banks, which is the main thrust of China’ s banking reform, as well as its implementation. The Section 3 analyzes 2020 financial performance 1 Review of Pacific Basin Financial Markets and Policies Vol. 13, No. 2 (2020) 215– 236 169。 % for BOC。 ICBC, %。本文的目的不是要評(píng)價(jià)銀行業(yè)改革對(duì)銀行業(yè)績的影響，這在一個(gè)完整的信貸周期后更好解決。由于他們并沒有完全牟利的商業(yè)實(shí)體，評(píng)估其財(cái)務(wù)表現(xiàn)并不嚴(yán)格適用于普遍商業(yè)銀行。 雖然權(quán)力下放迎來一個(gè)快速發(fā)展時(shí)期，但也產(chǎn)生了重大的宏觀經(jīng)濟(jì)不穩(wěn)定。另一方面，國有企業(yè)改革向前沖的時(shí)候，銀行改革不能再拖延。改革的第一步是通過邀請(qǐng)其他投資者來稀釋唯一的國家所有權(quán)，但仍保持其主導(dǎo)地位來進(jìn)行公司治理改革。其中四大國有銀行，建設(shè)銀行是第一個(gè)次擁有其改革努力，通過股市場的考驗(yàn)，在香港聯(lián) 合交易所成功上市的。 工行，建行，中行，交行得所有權(quán)都在稀釋，納入非國家所有制 70％以下的公司，其中包括外資持股，國內(nèi)法人和公有制（國有和公開交易的股票），全狀態(tài)的股份。 15 成功的公開上市 改革后的內(nèi)部調(diào)整和信譽(yù)良好的戰(zhàn)略合作伙伴吸引外資，國有商業(yè)銀行成功上市在香港（ H 股）和上海（ A 股）上市交易的股票，從而第一次受到市場自律：交通銀行， 2020 年 6 月， 建設(shè)銀行， 2020 年 10 月，中國銀行， 2020 年 6 月， 工商銀行， 2020年 10月（這是首次在香港聯(lián)合交易所和上海證券交易所共同上市）。 這項(xiàng)改革有助于在地方一級(jí)在貸款決策過程中免去不必要的干擾。 這也是金融服務(wù)領(lǐng)域，即新來的外資銀行的目的是捕捉他們的競爭力的領(lǐng)域。在2020 年上半年，凈利潤（稅后利潤）增長，分別為建行 ％，工商銀行 5 ％，中國銀行 36％，超過去年同期水平。此外，由于手續(xù)費(fèi)及傭金收入和更廣泛的零售銀行業(yè)務(wù)收入已經(jīng)起飛，成為一個(gè)強(qiáng)有力的利潤增長來源，銀行似乎有望成為一個(gè)減少長期戰(zhàn)略目標(biāo)的多樣化和發(fā)生商業(yè)周期風(fēng)險(xiǎn)、更加穩(wěn)定的創(chuàng)收基地。首先，宏觀經(jīng)濟(jì) 環(huán)境的支持與強(qiáng)勁增長在此期間平均每年增長 ％： 2020 年至 2020 年和部分開放的利率制度，有助增加收入。 許多公司最近推出的改革：治理，內(nèi)部控制和操作的程序，風(fēng)險(xiǎn)管理和人力資源工作仍在進(jìn)行中，尚未成事。 2020 年，經(jīng)濟(jì)增長速度大幅放緩、收緊貨幣和信貸政策的結(jié)果是意想不到的外部需求大幅下降導(dǎo)致的出口增長大幅放緩。 Dobson和 Kashyap（ 2020 年）集合宏觀經(jīng)濟(jì)，微觀經(jīng)濟(jì)和軼事證據(jù)表明，盡管改革仍在繼續(xù)，壓力造成政策性貸款。 對(duì)于大型國有商業(yè)銀行，手續(xù)費(fèi)及總營業(yè)收入的份額達(dá)到的傭金在 2020 年上半年新紀(jì)錄：建設(shè)銀行 ％，工商銀行 ％，中國銀行 ％。 國有大型商業(yè)銀行如建行還發(fā)起特別方案，以滿足中小型企業(yè)需要。銀行還通過改善內(nèi)部控制程序和 采用定量控制的工具和操作風(fēng)險(xiǎn)模型加強(qiáng)了對(duì)市場和流動(dòng)性風(fēng)險(xiǎn)分析。 強(qiáng)化資本 到 2020 年底，有近 80%的銀行已經(jīng)完成資本充足率標(biāo)準(zhǔn)。 到 2020 年底，有 33 個(gè)外國機(jī)構(gòu)投資者投資于 25 年國內(nèi)銀行，共注資213 億美元。 本次交易的資金部分為部分國債（ 820 億元人民幣）中央銀行貸款（ RMB573 億元人民幣）。 毫無疑問，更好，更可信的內(nèi)部改革方案，越有可能是為銀行吸引外部合作伙信譽(yù)伴和獲取與他們的同行或在股票市場更好的待遇。 第六，中國銀行業(yè)監(jiān)督管理委員會(huì)成立于 2020 年， 以提高監(jiān)管能力，監(jiān)管銀行。 第四，從 1996 年開始，政府開始大力追求企業(yè)改革，為金融改革鋪平了道路，即使這是大型 國有企業(yè)職工的冗余和痛苦的裁員的結(jié)果。 銀行改革創(chuàng)造了有利環(huán)境 自從國 家在 1992 年十月的中共第 14 屆中共代表大會(huì)宣布市場改革開放方案，目標(biāo)是建立社會(huì)主義市場經(jīng)濟(jì)， 從而有效地結(jié)束了自 20 世紀(jì) 70 年代末推出的實(shí)驗(yàn)性經(jīng)濟(jì)改革開放方案 。 第三節(jié)中分 析了 2020 年的財(cái)務(wù)表現(xiàn)集中在那些在市場上擁有浮動(dòng)股份的四大國有商業(yè)銀行：中國工商銀行（工商銀行），中國建設(shè)銀行（建行），對(duì)中國銀行（中銀）和交通銀行（交通銀行）。但是，在銀行改革開展以來，最近，強(qiáng)勁的盈利能力已恢復(fù)到國有商業(yè)銀行的水平。 % for CCB。 and BOCOM,