In the east of the world, an ancient nation has forged ahead for 45 years and used the "key move" of reform and opening up to write a rare economic myth in the history of human development.
Back in 1978, the Third Plenary Session of the 11th Central Committee of the Communist Party of China was held, and the tide of reform and opening up was surging, and the fate of contemporary China began to take a historic turn. Now, looking back on the magnificent 45 years, China has been running wild on the track of rapid development, transforming into the world's second largest economy at an astonishing speed.
Over the past 45 years, the banking industry has undergone profound changes and development, and various types of banking and financial institutions, including joint-stock commercial banks, have emerged and grown rapidly by taking advantage of the "east wind" of reform and opening up, and continue to inject new momentum into deepening reform and opening up and promoting high-quality development. China Guangfa Bank is undoubtedly one of the most representative banking and financial institutions.
Bravely stand at the head of the tide, and reform promotes growth
Guangdong is the forefront of reform and opening up, the first to gain the trend, leading the tide of opening up, and it is from here that China Guangfa Bank starts.
In 1988, ten years after the door of reform and opening up was opened in Guangdong, as one of the first joint-stock commercial banks established in China, China Guangfa Bank shouldered the dual mission of promoting the reform of the financial system and serving the forefront of reform and opening up, and was born in the beautiful land of southern Guangdong.
Since its establishment, China Guangfa Bank has been bathed in the "spring breeze" at the forefront of reform and opening up, actively integrated its own development into the torrent of the times, always adhered to the spirit of exploration of "daring to be the first in the world", created the first in the industry in business, products, services and other aspects, and led the development of the industry on the road of reform and innovation. For example, it is the first to issue the country's first standard credit card, the first to underwrite the issuance of short-term financing bonds for small and medium-sized enterprises, the first to pass the ISO9001 new standard certification, and the first to launch electronic bank cards for commercial entities.
Nowadays, in the wave of financial digitalization, China Guangfa Bank is also riding the momentum, making every effort to promote digital transformation, and strive to build a "digital GF" with the three characteristics of "integration, intelligence and ecology". A few days ago, the new generation of distributed banking core system independently developed by China Guangfa Bank was successfully launched and officially provided services to the public. As a major basic project of China Guangfa Bank to implement the national innovation-driven development strategy and comprehensively promote digital transformation, the system has been successfully put into operation, indicating that China Guangfa Bank has mastered an independent and controllable technical path, laying a solid foundation for accelerating the process of digital transformation and enhancing the competitiveness of financial services.
In 2023, we will usher in the 45th anniversary of reform and opening up, and China Guangfa Bank will also usher in its 35th birthday. Today, China Guangfa Bank has nearly 1,000 business institutions in 26 provinces, 111 cities at and above the prefecture level and Hong Kong and Macao Special Administrative Regions, with business "tentacles" almost all over the country and assets of more than 34 trillion yuan. This is in stark contrast to the "nascent appearance" of Guangfa Bank, which only had 6 branches, 5 offices and 1.5 billion yuan in assets when it was established.
Throughout the history of Guangfa Bank, over the past 35 years, China Guangfa Bank has grown up in innovation and exploration with the reform and opening up, adhered to the driving force of reform and innovation, and grew from a regional commercial bank to a national joint-stock bank among the top 100 banks in the world, and was successfully selected as one of the first batch of systemically important banks in China.
Comprehensive finance, explore a new look
Reform does not stop, innovation is endless. The cross-border integration with insurance is a major leap forward for China Guangfa Bank to explore the path of financial reform and serve economic development in the new era.
In 2016, Chinese Life, a large financial state-owned enterprise, became the single largest shareholder of China Guangfa Bank, injecting strong impetus into the steady development of China Guangfa Bank and opening a new chapter of coordinated development and shared win-win future for China Guangfa Bank.
It is understood that since Chinese Life became the owner of China Guangfa Bank, China Guangfa Bank and various member units of China Life Group have started in-depth collaboration in the fields of insurance, investment and banking, officially opening the prelude to exploring new development of comprehensive finance.
Relying on the "golden signboard" of Chinese Life, China Guangfa Bank regards integrated finance as an important support for high-quality development and a breakthrough point for future business, and deeply integrates into the comprehensive operation layout of China Life Group, making integrated finance an important channel for its own business and customer growth and value contribution, and also a new highlight of China Life Group's integrated operation.
More importantly, with the support of the comprehensive financial services of the insurance bank, the quality and efficiency of the financial services of China Guangfa Bank have been significantly improved.
On the one hand, China Guangfa Bank has in-depth collaboration with the members of the insurance and investment sectors of Chinese Life Group, and has launched a "investment and financing +" comprehensive financial service plan of "equity + debt" in view of the characteristics of long-term financial support for the construction of key areas, so as to provide integrated and comprehensive financial services for economic developmentOn the other hand, for high-tech enterprises, unicorn enterprises, specialized and new "little giant" enterprises and other technology enterprise customers, the member units of the insurance and investment sector of China Life Group of China Guangfa Bank actively provide comprehensive financial services for the science and technology industry, and launch the "Science and Technology Wisdom Finance" comprehensive financial service plan for the whole life cycle with innovative products such as science and technology credit and technology e-loan, covering the capital needs of science and technology enterprises throughout the life cycle.
A solid development foundation, a clear development strategy, and in-depth strategic coordination have added a strong touch to the marketization process of China's financial reform. According to the data, in the past seven years, China Guangfa Bank and the member units of China Life Group have jointly served more than 5.5 million individual customers and nearly 100 strategic customers, and jointly provided more than 450 billion yuan of funds for major national projects and local economic construction.
Rooted in the Bay Area, empowering new opening-up
The tide rises in the Greater Bay Area, and the wind is just sailing. The Guangdong-Hong Kong-Macao Greater Bay Area is an important part of China's national development strategy and an ideal place for deepening reform and opening up.
As a local bank born and raised in the Bay Area, China Guangfa Bank is rooted in the Bay Area, and after 35 years of development, it is currently the only national joint-stock commercial bank headquartered in Guangzhou and achieving full coverage of the "9+2" cities in the Bay Area. Since the construction of the Greater Bay Area, China Guangfa Bank has emphasized that it should be based on the location conditions, resources and customer base of the Greater Bay Area, combine the advantages of its headquarters, become a commercial bank serving the Greater Bay Area, and actively integrate into the overall development of the country.
The relevant person in charge of China Guangfa Bank said that rooted in the Bay Area, China Guangfa Bank mainly contributes financial strength to the Greater Bay Area from five aspects: first, increase investment to help infrastructure construction;The second is to make precise efforts to help the development of characteristic industries;The third is to serve the "dual carbon" and help green and low-carbon developmentFourth, enrich supply and help the Bay Area upgrade consumption;Fifth, open services to help the interconnection of the Bay Area.
In particular, in terms of serving the opening up of the Greater Bay Area, China Guangfa Bank has continued to strengthen the integration of domestic and foreign resources in recent years, continuously innovated financial services, and provided residents and enterprises in the Greater Bay Area with a full range of characteristic financial services integrating "cross-border settlement, financing, investment and insurance", so as to promote the high-level opening up of the Greater Bay Area with the power of finance.
The wind and waves are urgent, and the sail is set off again. Standing at the new starting point of reform and opening up, China Guangfa Bank will continue to adhere to the original mission of "exploring the way for financial reform and serving economic development", dare to be the first, be brave in innovation, and "discover the wonderful and create the future" on the new journey of deepening reform and opening up.