Abstract: This paper discussed the reasons of high profitability of Chinese commercial banks from two perspectives: individual level and provincial level. The sustaining economic growth continued to improve household incomes and increase the demand for banking products and services. The strict control on interest rates and informal finance from government set commercial banks in the position of monopoly, which were the most important reasons for the high profitability of commercial banks in China. Although the degree of marketization of banking industry had increased dramatically since the banking reform started in 2003, Chinese commercial banks still could not operate independently as real enterprises. The banks increasing profit was a result of the macro economy and the policy environment, which caused so many criticisms on Chinese commercial banks.

Key words: Chinese commercial bank , high profitability , economic growth , relative monopoly , real enterprise

摘要： 本文分银行和省际两个层面探讨了中国商业银行高盈利的原因。研究结果显示，经济持续良好的增长使人们的收入不断提高，人们对银行产品和服务的需求日益高涨，而政府对存款利率和民间金融等的严格控制，使商业银行处于供不应求和相对垄断的地位。这些是商业银行利润持续走高的最主要原因。虽然2003年开始的银行业改革使银行的市场化程度大幅提升，但是中国的商业银行仍不是自主经营的真正企业。银行的利润主要是宏观和政策环境给予的，这也是银行的高利润备受市场批评的主要原因。

关键词: 中国商业银行 , 高利润 , 经济增长 , 相对垄断 , 真正的企业