The financial industry is heating up its efforts to combat internal competition, with many regions exploring new paths for transformation.

The banking and insurance industry has launched a "anti-internal competition" campaign. Recently, financial regulatory departments and industry associations in Guangdong, Anhui, Ningxia, Zhejiang Ningbo and other places have successively spoken out to rectify "internal competition", resist unfair competition methods, and promote the healthy development of the financial industry. Industry insiders believe that financial institutions should start from the financial market and customer needs, based on their respective functional positioning and resource endowment, transition from "price competition" to "service competition", create differentiated competitive advantages through tapping the potential of the sinking market, optimizing the quality and efficiency of financial services, digital transformation empowerment, etc., and continuously enhance their ability to develop stably and serve the real economy.