Ma Weihua’s media reports

Ma Weihua: Transforming with Shenzhen

This couplet is not only an annotation of China Merchants Bank’s first transformation since 2002, but also a declaration of the “second transformation” that began in 2002.

When searching for news about China Merchants Bank online, the word that appears most frequently must be "transformation." Coincidentally, Shenzhen, which has entered its third year, also uses "transformation" as the key word for its next development.

China Merchants Bank, the “brand” of China’s private banks born in Shenzhen, is always closely related to the city in which it is located. In the words of China Merchants Bank President Ma Weihua: Shenzhen is our root, and our emotions are melted here.

“Five Excellent” Shenzhen

“We were born in Guangdong and Shenzhen. The water and soil here have nurtured us.” When talking with a reporter from China Business News about China Merchants Bank When talking about Shenzhen, Ma Weihua spoke affectionately. He responded directly to the rumors of "relocation" that were once widely circulated: "Those rumors about China Merchants Bank moving away from Guangdong and Shenzhen are nonsense. We have never had the slightest idea of ??moving." Because "China Merchants Bank's development is closely related to Guangdong and Shenzhen are inseparable. "

Looking back on the past, Ma Weihua believes that China Merchants Bank's success "depends largely on the contribution of China Merchants Group." He played an indispensable role in the economic development of modern China. After entering the reform and opening up, China Merchants Group has "established new achievements" - wholly-owned development of China's first industrial zone open to the outside world, Shekou Industrial Zone, founded the first joint-stock commercial bank in New China, China Merchants Bank and the first joint-stock insurance company: Ping An Insurance, "This is an attempt by the central government to promote reforms within the system from outside the system," and all of this happened in Shenzhen.

Ma Weihua said that China Merchants Bank is today thanks to Shenzhen, which "provided a fertile ground" for China Merchants Bank's growth. He noticed that Shenzhen has a unique phenomenon in the country: a large number of enterprises have been produced here that have lasted for 20 years. They have good competitiveness at home and abroad, and most of them are not state-owned enterprises. "This must be attributed to Regarding Shenzhen’s environment.”

Ma Weihua analyzed that there are five major reasons behind the above-mentioned “Shenzhen phenomenon”, which are also Shenzhen’s five major advantages. First of all, this is an immigrant city that is very inclusive, creative and imaginative, which provides a good environment for corporate innovation. China Merchants Bank has fully absorbed many nutrients in this regard. For example, the All-in-one Card, which can be called a "milestone" in the development history of China's private retail banks, and the country's first small business credit center established in 2008 are pioneering projects that CMB learned from Shenzhen's development experience.

The second reason is youth. The Shenzhen Special Economic Zone has only been established 30 years ago. There are no old companies or old streets here, and there are many young people. "The innovative city plus a group of young people have created the vitality of the enterprises here." This is what Ma Weihua thinks of China Merchants Bank and many others. An important foundation for the success of Shenzhen enterprises.

The proximity to Hong Kong is the reason why Shenzhen has achieved extraordinary development. Due to its close ties with Hong Kong, many ideas and practices of Shenzhen enterprises are influenced by Hong Kong, and they have adapted to international game rules relatively early. Ma Weihua said that when China Merchants opened a bank, it first absorbed many international and scientific things from Hong Kong, such as employment mechanisms and governance structures.

This is one of the reasons why China Merchants Bank has adapted to internationalization relatively early.

Ma Weihua believes that the fourth reason for the prosperity of private enterprises in Shenzhen is that Shenzhen is a "reforming city" and the government is a "small government" that does not interfere much and creates a very relaxed environment for enterprises. It is conducive to the independent development of enterprises.

The fusion of the above four major reasons constitutes the fifth major reason for the “Shenzhen phenomenon”-vibrant urban culture. Ma Weihua said that this culture is ideological and competitive, and it is contagious. Because of this, not only the financial industry to which China Merchants Bank belongs, but many other industries have also received a good development atmosphere in Shenzhen. It is true that some special policies provided by the central government are also an important reason for the rapid growth of Shenzhen enterprises, but in Ma Weihua’s view, “This is also related to the above five points.

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Transformation Mission

Looking back, it can be said that it is the cultural blood of Shenzhen, an immigrant city, that nourishes the enterprises here, or it can be said that it is these "barbaric growth" Enterprises have made Shenzhen. China Merchants Bank is a typical example of this perfect "double helix structure of DNA molecules".

Ma Weihua likes a couplet: When a bird is in a cage, Guan Yu cannot fly; , Bajie still needs Wukong. This couplet he saw on his business trip to Fujian can be said to be an annotation of China Merchants Bank’s first transformation since 2002.

When interpreting this couplet to reporters. He used the words innovation, system and culture. He hoped that through continuous innovation, China Merchants Bank could gain the ability to break away from the "cage" and fly high. The "Bajie" and "Wukong" respectively represent the system and culture. It is the soil for innovation and the guarantee for its effectiveness.

Although China Merchants Bank’s two transformations have different backgrounds and different goals, in general, they are nothing more than to adapt to competition in different periods. environment, looking for differentiated competitive advantages and sustainable development business models. This is very similar to the "main theme" of Shenzhen, a city that has gone through the road of reform.

On the eve of the 30th anniversary of the establishment of the Shenzhen Special Economic Zone, the State Council. Officially approved the "Shenzhen Urban Master Plan (2010-2020)". Shenzhen officially calls this urban master plan a "transformation plan". Why does Shenzhen say this? Everyone is familiar with it: Since entering the new century, Shenzhen has faced the "four unsustainable" contradictions of population, land, resources and environment, becoming the first megacity in China to truly face hard constraints on space resources. In this context, Shenzhen has transformed and developed. Model to achieve successful urban transformation and sustainable development has become an inevitable choice for Shenzhen...

Ma Weihua said that the economy of Shenzhen and even Guangdong is indeed facing the pressure of transformation, and Guangdong was the first place to open up to the outside world. Like the entire coastal area, it has set an example, made military achievements, and made contributions to China’s economic development. But today it has encountered new problems, the biggest of which is the increase in development costs. “The Foxconn incident is only a superficial phenomenon, but it actually reflects it. The so-called Lewis turning point problem. If they continue to follow the old labor-intensive development model, Shenzhen and Guangdong will no longer have advantages and cannot continue. Therefore, we must speed up economic structural adjustment and accelerate innovation under the new situation. ”

In Ma Weihua’s view, if the transformation of production methods is not realized, it will be difficult for Shenzhen to achieve further development. In this regard, although Shenzhen woke up earlier and took a step earlier than many other places in the country , but it is not enough, and we need to move forward. Those special policies in the past are no longer available, and Shenzhen must rely on its own efforts to cross the river in terms of urban transformation and sustainable development.

Looking forward to Shenzhen's reform. Regarding the new journey, Ma Weihua said: "I think the current direction is right. Developing high-tech, further promoting financial innovation, and leveraging Hong Kong's advantages are of great significance to Shenzhen, a place with so little land. "As for enterprises like China Merchants Bank, which were born and strengthened because of Shenzhen, they must take a clear-cut stance in supporting economic structural adjustment and "understand the changes of the times and stay ahead of the times." ”

Ma Weihua talks about China’s banking industry

China’s banking industry is indeed facing a complex external environment. In addition to interest rate liberalization, there are at least two important changes: First, the economic structure adjustment belt The second is the trend from capital disintermediation to technological disintermediation. First of all, the problem of unreasonable economic structure, unbalanced, uncoordinated and unsustainable development is the problem faced by the Chinese economy. The biggest challenge. In order to properly solve the problem of economic structural imbalance, China's "Twelfth Five-Year Plan" clearly states that strategic adjustment of economic structure should be regarded as the main direction of accelerating the transformation of economic development mode, and significant progress should be included in the plan. Main objectives. As the pace of economic structural adjustment accelerates, the Chinese government's financial regulatory policies and credit policies will undergo major changes, which will put forward more urgent requirements for the Chinese banking industry to speed up the adjustment of credit structure and strengthen credit risk management.

Secondly, since last year, the assets and liabilities of Chinese commercial banks have changed significantly. On the one hand, deposit growth tends to decline. The weak growth in deposits is due to the fact that negative interest rates have lasted for nearly two years, but the deeper reason is the change in the consumption concept of the public, especially young people, and the increase in options in the financial market. China's long-term high savings rate has changed. Some funds left the banking system. On the other hand, loan growth tends to slow down. In 2011, the self-operated loans of banking financial institutions across the country increased by 14.1% year-on-year, 3.4 percentage points lower than the average level before 2001; in the first quarter of 2011, they continued to decline by 2.2 percentage points year-on-year. The above situation shows that capital disintermediation is accelerating in China. Capital disintermediation has caused banks to face the disintermediation of both liabilities and assets, and has caused the proportion of bank interest spread income to continue to decline, which has caused banks to fall into operating difficulties.