On Problems and Strategies of Financial Innovation in China's Commercial Banks

Rapid development of economy and capital market has become a power of financial innovation in China's commercial banks.Financial innovation greatly enriches financial instrument and products,increases basic function and operation efficiency of financial institutions,and establishes their positions in modern economy.However,the financial innovation of China's commercial banks faces the problems of backward legislation,system absence,imperfect supervision,insufficient support of information technology,and shortage of financial talents.Hence,we should improve current supervision mechanism and system of financial institutions,build training mechanism on talents,and take relevant strategies in insurance and investment banks to promote China's financial innovation.