Author(s)

Qianhao Meng

Corresponding Author

Qianhao Meng

ABSTRACT

As financial institutions serving the real economy, banks should fully support the national policy after the Strategy for integrated development of the Yangtze River Delta was proposed. Wuxi, as one of the central cities in the Yangtze River Delta region, quickly released the Wuxi Action Plan for the Integrated Development Plan of the Yangtze River Delta Region, which focuses on the transformation and upgrading of industries. In the context of the integration of the Yangtze River Delta, how banks can assist in the transformation and upgrading of local industries is worth researching. This paper first introduces the background of the study, followed by an analysis of the financial needs of modern industries such as advanced manufacturing, strategic emerging industries and modern service industries in Wuxi, and explains the opportunities and challenges brought by industrial transformation and upgrading for banks. Finally, it discusses the implementation paths for banks to help Wuxi's industrial transformation and upgrading from five aspects: implementation strategies for different industries, product innovation, improving the financial service guarantee system, strengthening special incentives and assessment, and making efforts to improve service competitiveness.

KEYWORDS

Financial services, Industrial transformation and upgrading, Yangtze River Delta integration