Since the beginning of this year, there is an exodus in the domestic banking industry, ranging from high level officials to front line personnel.

ANBOUND's research team is of the view that the real reason behind the exodus is the increase in non-performing loan ratio and the root cause is the unsustainable, debt-driven economic model adopted by China.

The commercial banks in China is entering a new round of declines in performance, the lowering of valuation, the operation of business during the "ice age", the rise of bad debt, the slow-down in profit growth, business transformation and innovative development will continue to exist along with many other challenges.