Technological innovation and development in China’s banking industry: Problems and countermeasures

Authors

Chuhan ZHANG, School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China MOE Social Science Laboratory of Digital Economic Forecasts and Policy Simulation, University of Chinese Academy of Sciences, Beijing 100190, ChinaFollow
Jichang DONG, School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China MOE Social Science Laboratory of Digital Economic Forecasts and Policy Simulation, University of Chinese Academy of Sciences, Beijing 100190, China
Zhi DONG, School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China MOE Social Science Laboratory of Digital Economic Forecasts and Policy Simulation, University of Chinese Academy of Sciences, Beijing 100190, China
Xiuting LI, School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China MOE Social Science Laboratory of Digital Economic Forecasts and Policy Simulation, University of Chinese Academy of Sciences, Beijing 100190, ChinaFollow

Keywords

banking industry, technology innovation, technology system, patent bibliometrics

Document Type

Policy & Management Research

Abstract

With the deep integration of science and technology into industrial transformation, the technological innovation in China’s banking industry has reached a new level with growing capacity for innovation, relying on the “dual-wheel” innovation-driven development of business and technology. However, there are still problems and challenges for the technological innovation and development in China’s banking industry, such as concerns about the safety of key information infrastructure and high dependence on foreign sources for core technology. It is urgent to build a relatively complete, self-reliant, stable, and secure banking technology system. This study reviews the development process and main achievements of technological innovation in China’s banking industry, analyzes the major problems in the technological innovation and development in China’s banking industry from five aspects, including technological power, talent cultivation, data governance, organizational construction, and regulatory technology development, and further proposes comprehensive countermeasures, such as improving the innovation guidance policies, and enhancing the supplydemand matching mechanism for core technology.

First page

1060

Last Page

1066

Language

Chinese

Publisher

Bulletin of Chinese Academy of Sciences

References

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Recommended Citation

ZHANG, Chuhan; DONG, Jichang; DONG, Zhi; and LI, Xiuting (2023) "Technological innovation and development in China’s banking industry: Problems and countermeasures," Bulletin of Chinese Academy of Sciences (Chinese Version): Vol. 38 : Iss. 7 , Article 11.
DOI: https://doi.org/10.16418/j.issn.1000-3045.20230201002
Available at: https://bulletinofcas.researchcommons.org/journal/vol38/iss7/11