Banks of China: the Choice of Development Strategy in the Conditions of “Double Circulation” Model.

Abstract

The article considers the problems of functioning of Chinese banks in the conditions of realization of the economic policy directed on development of the modern, harmonious and creative society. The peculiarities of forming a “culture of open innovation” and expanding the services sector, which should become an important beneficiary in the “Double Circulation” Model, are identified. In the context of "political acceptability", the banking sector is being commercialized, alternative form factors are being developed, a specialized asset management company is being developed, and cryptocurrency testing is taking place.