UDC 330.342
DOI: 10.36871/ek.up.p.r.2024.05.01.009
Authors
Marina V. Safronchuk,
Тatyana I. Kurnosova,
Federal State Autonomous Educational Institution of Higher Education
“Moscow State Institute of International Relations (University) of the Ministry
of Foreign Affairs of the Russian Federation”
Abstract
The purpose of the study is to consider digital solutions and financial tools that are being introduced into the practice of the Chinese banking sector during its digitalization on the example of the Bank of China. We considered the financial result and competitiveness of the bank, identifeed difficulties in the digitalization. The study used materials from the Bank of China itself, as well as the statistical database of Chinese fintech, and materials from scientific reports. Analysis and synthesis, comparative analysis, extrapolation techniques, and forecasting were used for the study. It is considered how the Bank of China manages to carry out “shock-free” digitalization, maintaining and increasing its client base. The bank’s unique strategy and the challenges of digital transition are analyzed. The conclusion emphasizes the need to maintain the pace of digital development of the bank, despite the difficulties that have arisen in the Chinese economy and domestic politics.
Keywords
digital transformation, bank of China, pandemic crisis, financial technology, digitalization of business processes, digital technology, commercial Bank, net profit.
