3. The Development of China’s Financial Holding Groups

In recent years, the world economic growth has slowed down, China’s economic growth has changed from high-speed growth to medium–high growth, financial reforms such as interest rate marketization and capital marketization have been further promoted, the proportion of direct financing has gradually increased, finance and technology have been deeply integrated, financial management and investment of enterprises and residents have diversified, and the profit growth rate of traditional banks has declined. According to the development experience of financial institutions in Europe and America, integrated operation of financial institutions is an important way to cope with macroeconomic changes, diversify customer needs, and enhance profitability and risk resistance. Some domestic financial institutions have held various financial licenses through establishment, merger and acquisition, and transformed into financial holding groups.