This report is the 15th annual survey that KPMG has published for China's banking industry. In it, 1) we describe how China’s banking industry has regained its footing and maintained a steady recovery in 2020 despite the lingering impact of the pandemic; 2) analyze topics of general interest in the industry from a strategic and practical perspective; 3) and illustrate the performance and key indicators of 200 listed and non-listed commercial banks in 2020. We hope these insights can inspire industry participants to identify what factors are driving bank transformation during the digital era, and confidently address upcoming changes and challenges and successfully develop their business.

In this report, professionals with extensive experience in the banking, fintech, risk management and sustainability sectors analyze and provide insights into following 14 important topics:

Pursuing AI-driven development and enabling digital banking (Strategies)

  • Digital operations: The new strategic competitiveness for “future banks”
  • Integration, innovation, and collaboration: The path to transformation for transaction banking
  • Six recommendations for regional banks regarding retail business transformation
  • Digital transformation: Enabling banks to develop new product management capabilities
  • Foreign banks seizing opportunities in China: An overview of the past 15 years
  • Discussion of opportunities offered by GBA policies for commercial banks
  • Exploring development paths for banks’ fintech subsidiaries

Developing smart control and compliance capabilities (Practices)

  • Risk management in commercial banking reaches new heights under the new reality
  • A clear third-party management strategy helps banks provide high-quality services
  • Digital transformation of compliance management and internal audit in banks
  • Making the digitalization of microfinance a success
  • Data governance empowers “risk-based” AML management
  • Focusing on climate change and responding to climate and environmental challenges
  • Tax solutions for the banking industry in the post-pandemic era

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