In fact, at present, domestic banking financial institutions are still very immature in terms of financial product innovation and financial rules (see Professor Chen Ping's complete analysis of domestic financial institutions-"Is it possible for China to seize the commanding heights of world finance?"). In addition, we can also check the immaturity from Bank of China official website. Crude oil treasure is a futures contract. Anyone who has studied finance should know that futures is one of the most risky products in financial derivatives. However, in the official website of Bank of China 20 18, the propaganda of Crude Oil Treasure even wrote: "Without professional financial knowledge, is there any interesting and profitable product recommendation for investment?" Of course there is! That is the treasure of crude oil. To tell the truth, I am a person who studies finance and economics, and I have been engaged in financial work since graduation. I dare to touch funds and stocks until now. I don't dare to touch foreign exchange, futures, options and precious metals at all, because the risks are too great, especially the operation of adding leverage. However, the Bank of China actually suggested to invest in Xiaobai to participate in crude oil treasure, really in order to earn fees, regardless of anything.

In fact, in this incident, ICBC and CCB were just lucky, because according to the agreement they signed with their customers, ICBC and CCB delivered the goods from April 14 to April 15, when the Chicago Stock Exchange had not activated the new rules, while BOC crude oil treasure was delivered at 22: 00 at the last minute, because there was no rival in the market at that time, and finally it could only be delivered at the price of -37.63. If the agreement between ICBC and CCB is a week late, the outcome may be the same as that of BOC.

However, China banks and investors have an unshirkable responsibility for this harvest, because even if the United States wants to harvest you, it must be within the scope of the rules. If the rules do not allow it, adjust the rules. On April 3rd, Chicago Stock Exchange revised the IT system code to allow negative oil price declaration and trading for the first time, which will take effect on April 5th. On April 15, CME Clearing House revised the trading rules, and the new rules were adapted to the new contracts and applied to stock contracts. If we were a little alert, we would have smelled two conspiracies in the regulation adjustment, but neither investors nor Bank of China paid attention to the change of the regulation, so the delivery price of -37.63 USD finally appeared, which was unique and the first time in history.

abstract

China's financial industry has been under the protection of policies for a long time, relying on policies can earn a lot of profits, and it lacks innovation and enterprising (of course, this is also related to the fact that innovation may be punished by supervision. The former Industrial Bank, which is relatively innovative in China, has taken many new measures in its inter-bank business. Therefore, there are many deficiencies in the overall risk awareness, innovation awareness and understanding of emerging businesses and financial rules in China's financial industry. Therefore, China has a long way to go before it becomes a financial power.

To sum up, banks such as ICBC were not harvested by the United States, mainly because they moved their positions earlier and ran faster, while Bank of China ran slower and was targeted by bears, so it lost so much at once.