我国商业银行投资银行业务发展重点研究

A Probe into the Development Priority to Invest Banking Business of Our Commercial Banks

在分业经营体制下开展投资银行业务是我国商业银行目前面临的一个较大的挑战。本文从我国金融监管法律法规和美国银行监管法规变迁历史入手,对商业银行投资银行业务范围及今后可能的拓展空间作了较为详尽的分析。在此基础上,提出商业银行投资银行重点业务的选择必须遵循比较优势原则,构筑以财富管理、政府财务顾问、并购重组以及项目融资顾问、银团贷款组织安排等与银行债务融资业务关联性较高的业务为主打产品的投资银行业务架构。

It is a big challenge for our commercial banks to invest banking business under the divided operation system at present. The paper starts with a review of the history of financial and banking regulations in China and in USA respectively. Then a detailed analysis is made in relation to the operation scope of banking business to be invested by commercial banks and their potential expansion areas in future. On this basis, it is proposed that commercial banks should follow the principle of comparative advantage when investing in key banking business and establish a business framework as an investment bank which deals mainly in wealth management, government financial consultation, M & A and project financing consultation and banking syndicate loans arrangement, all of which are highly connected with banking debt financing.