1 Introduction

There are 16 listed banks in A-share market of China: Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), Bank of China (BOC), China Merchants Bank (CMB), Bank of Communications (BOCOM), Shanghai Pudong Development Bank (SPDB), China Industrial Bank (CIB), Minsheng Bank (CMBC), China CITIC Bank, China Everbright Bank, Ping An Bank, Bank of Beijing and Hua Xia Bank, China Construction Bank, Bank of Ningbo, and Bank of Nanjing. They are very important to China’s entire stock market, banking industry, and even to China’s GDP. How about their competitiveness and how to rank their competitiveness? How to evaluate their competitiveness? These are hot topics. In this study, we introduced classic literature and latest literature in the field of competitiveness, and discussed the related literature about the competitiveness of commercial banks and listed banks. Then, we extracted the concept of differentiated competitiveness from ideas of Professor Leften Stavros Stavrianos about the national competitiveness, and analyzed the competitiveness of China’s listed banks. Finally, from the differentiated competitiveness, we came up with some recommendations for Agricultural Bank of China improving its differentiated competitiveness.

2 Literature review

2.1 Review of literature about competitiveness theories

2.1.1 Adam Smith’s theory of division of labor. In TheWealthofNations, Adam Smith demonstrated the great role of division of labor in increasing labor productivity. From the division of labor and specialization, he assumed that there are scale differences between enterprises, due to the role of economies of scale, some of the larger companies have lower unit production costs than smaller companies. He stated that the competitiveness comes from division of labor and specialization, and he emphasized the benefits of economies of scale. He incisively expounded the functions of division of labor in increasing the productivity and accordingly improving the competitiveness of the enterprise[2].

2.1.2 David Ricardo’s theory of comparative advantage. David Ricardo proposed the theory of comparative advantage. Before the introduction of this theory, everyone emphasized the absolute advantage that each country should produce what it is best at producing, but David Ricardo believed that even if a country’s absolute productivity is lower than other countries, it still should conduct trade through producing goods with high productivity, so as to raise the overall benefits, and improve the competitiveness. For example, for Country A, it needs consumption of 1 000 units of resources to produce one unit of steel, and needs consumption of 10 units of resources to produce one unit of wheat; for Country B, production of one unit of steel and one unit of wheat needs consumption of 100 units and 5 units of resources respectively, so the steel production efficiency of Country A is 1/10 of that of Country B, and the wheat production efficiency of Country A is 1/2 of that of Country B; Country A has competitive advantage of wheat production, so Country A may produce wheat more, while Country B may produce steel more; Country A and Country B may trade with each other to increase the total economic surplus[3].

This principle can be applied to study the overall competitiveness of the banking industry. Is it better for banks to compete homogeneously or to exert their respective comparative advantages? Banks can also develop the business at which they are best, based on their own resources, and retain the customers that they are best at serving. In practice, many banks have already done so, such as the ICBC, the CBC, the ABC, and the BOC. Since their establishment, they have made a different orientation. However, there are still too many overlapped banking services, but there are few services with unique characteristics. For example, for a large number of ordinary depositors, there is basically no difference in the choice of banks. The China Merchants Bank has established the relative advantages of online banking, but was caught up by other banks a few years later. Minsheng Bank proposed to serve as a small and medium-sized enterprise, indicating a taste of differentiated competition. We believe that banks can highlight their own characteristics and give play to their comparative advantages. For example, China Merchants Bank can further strengthen online banking services and expand its telephone banking and mobile banking. Ping An Bank can strengthen its connection and seamless connection with its insurance business. China CITIC Bank can highlight its own credit card features. Bank of China can take advantage of its own overseas outlets and provide better services for tourists traveling abroad. Banks can also highlight such features as car loans, personal housing accumulation fund loan, SME loan, personal short-term loan, wealth management investment, and precious metal investment, based on their respective advantages. When banks expand their businesses with the aid of their own comparative advantages, the overall competitiveness of the banking industry is expected to increase.

(iii) The strategy of countryside encircling the cities. After setting up a good reputation in the countryside and farmers, it is recommended to infiltrate to the urban residents. Due to the influence of hundreds of millions of farmers, the new generation of farmers, and offspring of old generation farmers will start using business of ABC. Then, it will spread to their friends and relatives. Finally, it is able to realize the objective of countryside encircling the cities, and seizing the shares of ICBC and CCB.

2.1.4 Studies of other theories of competitiveness. Jin Bei explained the competitiveness using theory of economics, stated that "the essence of competitiveness is the difference in economic efficiency or productivity, and the economic research on competitiveness is mainly focused on cost-price and differentiation (product differentiation, market structure differences, regional differences. If the introduction of uncertainty can be extended to the entrepreneurial innovation and ability to assume risk, he also stated that the most basic logical meaning of the concept of competitiveness is: each company is different, at least, the company has a heterogeneity that cannot be ignored[5]. Zhao Yanyun evaluated and analyzed China’s international competitiveness and came up with recommendations for competitiveness research[6]. Zhao Yanyun designed the national quality competitiveness evaluation system[7], which has a certain reference for the design of the competitiveness evaluation system of China’s listed banks. Liu Yang studied the impact of equity structure and diversification on the overall performance of listed real estate companies, and believed that the increase in legal person stocks and state-owned stocks is favorable for the improvement of performance. Diversification is not favorable for overall performance[8]. It has certain implications for the study of listed companies in the banking industry. Using cross-sectional data of listed companies in Shanghai and Shenzhen in 2004 as samples of study, Hu Peixian carried out a multiple regression analysis of the relationship between the internal governance mechanism of the company and the company’s competitiveness, and found that the ratio of shares held by the largest shareholder and the company’s competitiveness have significant U-shape correlation, and state-owned shares, as the largest shareholder of the company’s competitiveness, is lower; the internal shareholding is negatively correlated with the company’s competitiveness, and the issue of foreign share is helpful for increasing the company’s competitiveness[9]. It is necessary to verify whether these conclusions are applicable for the banking industry.

Fig.1 Michael Porter’s five force model

计算机软件按照日常的使用可以分为系统软件和应用软件两大类。所谓系统软件，就是指对计算机的日常维护、监控、管理等各类软件，包括操作系统、自检程序等。对于应用软件而言，主要是为了解决某种具体问题或者达到某种问题而设计或者开发的软件，比如办公软件、绘图软件、PS软件等，对其进行功能分析发现，软件主要是利用计算机本身的逻辑功能，合理组织计算机进行工作，从而实现利用计算机简化工作过程的目的，甚至能够代替我们的工作环境，在现实生活中有着十分重要的作用。计算机软件的分类具体如下。

王姐约有五十多岁，是那种一看面相，就知道是见过世面的女人。才与老婆相识，便一把挎过老婆的胳膊，亲热的就像多年未见的闺中密友。任谁见了，会相信两个人在此之前，仅仅通过一回电话呢？

2.2 Stavrianos’ idea of national differentiated competitiveness In his famous book AGlobalHistory, Stavrianos examined in detail the reasons why Portugal, Spain, the Netherlands, and the United Kingdom lead the world in modern times. Among them, Britain has the longest time and the most extensive range of world hegemony. Stavrianos analyzed the reasons why the United Kingdom and its rival, France, had been fighting for four wars for almost a century (1689-1763) and had finally gained a complete victory to become the world hegemon. "One reason is that France is not interested in overseas colonies but European hegemony"[1]. "Another reason for the British victory is that there are many more Britons than Frenchmen in the colonies".[1] "The astonishing development of British industry also contributes to the victory of Britain in overseas competition"[1]. "The French differ widely from the Britons who produce fabrics and metal appliances and tend to make luxury goods. In addition, technological progress in France has been hampered by the guild system, which has been organized in France in a logical and very powerful manner"[1]. "Besides, British industry is fully prepared for naval construction. This fact, combined with the fact that the British ruling group has deeper understanding of the importance of maritime power, has explained, to a large extent, the reasons why the British navy has prevailed in a series of wars between Britain and France"[1]. Stavrianos also stressed the Britain’s leadership at that time and the impact of large number of colonies on future generations. Later, Bismarck commented that the fact that the United States and Britain speak the same language is the most important part in modern diplomacy. The development during the two world wars also supported this view"[1]. As estimated by Bismarck, we are still living in the world with United Kingdom and United States of America playing a leading role. Stavrianos attributed Britain’s victory largely to the fact that Britain cares more about overseas colonies, much more immigration, astonishing industrial development, a system that encourages the development of industry and commerce, and a powerful navy. Further, he also mentioned the unique geographical location of Britain, which made it far away from the European war, but it is also easily benefited from the civilization of the European continent. However, he did not emphasize too much on this unique geographical location, and he only used it as one of the important reasons for the British advantage.

3 Discussions about the differentiated competitiveness and differentiated competitiveness of listed banks

香港金融管理局10月31日宣布，推出区块链贸易融资技术平台“贸易联动”，并开展跨境区块链贸易融资研究。

(i) Differentiated competitiveness is the competitiveness that one possesses, but others do not have. For example, for the task of writing, I have pen, pencil, and ballpoint pen, you have only ballpoint pen and pencil, then pen is my differentiated competitiveness. If both parties have pen, pencil, and ballpoint pen, but I have more and better, then I also have the differentiated competitiveness.

(ii) Due to difference of competitors, there will be change in the differentiated competitiveness. For example, if the fourth person has pen and ballpoint pen, then pencil will become my differentiated competitiveness.

(iv) There is strong and weak differentiated competitiveness. For instance, I have pen but you do not have, and I have pencil and another person does not have. If pen is more useful than pencil, the differentiated competitiveness of having pen is stronger than that of having pencil.

3.2 中度相关指标分析 身高与体重的相关性研究早已有之，本研究再一次验证身高与体重的正相关，男女生身高体重相关系数分别为0.425和0.433（P＜0.01），且比较显著。

(iii) The thing you have and others do not have may become differentiated competitiveness only when this thing is useful. For example, for the writing task, my hair is more than your hair, my hair is not the differentiated competitiveness.

(v) In a broad sense, the differentiated competitiveness includes not only differences in nature but also differences in key number. For example, things we possess may be completely the same. "Braver one wins the fight". Then, the bravery is the differentiated competitiveness. In sports games, even 0.001 second faster may be the differentiated competitiveness and determine who will become the winner. Differentiated competitiveness is different from core competitiveness. The formation process of core competitiveness not only includes differentiated competition, but also includes resource competition, market competition, non-differentiated competition, benchmarking competition, and human resource competition. Differentiated competitiveness is a kind of core competitiveness.

3.2 Differentiated competitiveness and the competitiveness of listed banks The competitiveness of an enterprise can be traced back, for private enterprises, to the individual talent, growth environment, and even childhood experience of the entrepreneur. For the state-owned enterprise, it can be traced back to the initial establishment background, relationship with the government, and initial positioning, institutional arrangement and cultural construction. At the same time, enterprises also have differentiated competitiveness. There may be many enterprises that are very competitive. However, there is one enterprise stands out because it not only has powerful competitiveness similar to other enterprises, but also has the differentiated competitiveness that other enterprises do not have but makes it become a star.

Through applying the idea of differentiated competitiveness to the competition of China’s listed banks, it can be seen that ICBC has stronger and more differentiated competitiveness than other banks. Compared with city banks, ICBC is a national bank, and its differentiated competitiveness is nationwide branches. Compared with Minsheng Bank and other national non-state banks, ICBC is a state-owned company and enjoys various national supports in many aspects, then state-owned nature is its differentiated competitiveness. Compared with similar national large-scale state-owned banks such as ABC, BOC, and CCB, ICBC is positioned in industry and commerce. In addition to its market positioning, at the current stage, its capital capacity is much larger than other state-owned banks, then the positioning of serving the industry and commerce becomes its differentiated competitiveness. Therefore, in the current competition of listed banks, ICBC’s congenital endowment determines that it has differentiated competitiveness that other banks do not have. Of course, the BOC also has a certain kind of differentiated competitiveness, i.e. its overseas business is stronger and its overseas branches are more than other banks. However, this differentiated competitiveness may not be as good as ICBC’s positioning in serving industry and commerce. Thus, its market value and profits are lower than that of ICBC. In the medium and long term, it is still unknown which kind of differentiated competitiveness will prevail. The CMB also has some kind of differentiated competitiveness. Its online banking started early and its services are good. It has a very good reputation among depositors and leaves the society an advanced management impression. This differentiated competitiveness will pose a challenge for ICBC. To sum up, ICBC ranks first in the differentiated competitiveness (because it has the largest number of outlets and the scale is largest), BOC ranks second (it is positioned in serving overseas, the overseas business has high profit), and CMB ranks third (its online banking service is the strongest, customer experience is the best, and the innovation awareness is the highest).

3.3 Implications of differentiated competitiveness for the competitiveness of enterprises and listed banks For listed banks, they need to find ways to improve their differentiated competitiveness. Take the BOC as an example. (i) It is required to explore its differentiated competitiveness, that is, to become more international. (ii) It is required to foster its differentiated competitiveness. Its advertising activities should not emphasize how good their online banking is, or how many outlets they have, but should focus on promoting themselves to be more international. It should attract people to think of the BOC when they want to travel abroad, think of the BOC when they want to apply a foreign currency credit card, think of the BOC when they have demand of foreign currency settlement, and think of the BOC when they have demand of international trade, and think of the BOC when they have transnational investment. It should be noted that ICBC pays more attention to foster its differentiated competitiveness. For example, its slogan "Your Global Partner, Your Reliable Bank" is conveying the idea of its differentiated competitiveness. (iii) It is required to develop the most differentiated competitiveness. It should focus on the development of the business which is favorable for improving its performance. (iv) It is required to be forward-looking. What changes there will be for the differentiated competitiveness required by banks. With the deepening of globalization, the BOC should further cultivate and improve its differentiated competitiveness. Besides, with the popularization of credit cards, the BOC should focus on the development of dual-currency credit cards.

3.1 Differentiated competitiveness In this study, we summarized Professor Stavrianos’ national competitiveness[1] as the differentiated competitiveness. The differentiated competition[4] was proposed by Michael Porter. In this study, we attempted to apply this concept in the field of competitiveness of listed banks.

4 Conclusions and recommendations

(ii) Maximally using and developing the Internet and the mobile Internet. The strength of farmers lies in the large number, while the weakness of farmers lies in low income (compared with urban residents). A core feature of the Internet is the amount of users. The greater the amount of users, the stronger and higher value the corresponding website and App. The ABC should provide the best online banking services, the best App and dispatch a lot of people to help farmers to use online banking and App. Once these two tasks are completed, the ABC website and App will have the largest number of users, forming a huge strength. The specific value can be similar to that of Tecent WeChat. Internet is the field of "users being the king". The ABC is rooted in farmers, so it has absolute advantage in the amount of users. Imagine if the active users of ABC App exceed 100 million or 200 million, what situation there will be? When having such number of users, the ABC may consider cooperating with other super Apps such as WeChat, to cash the flow, and issue different advertisements for different people.

As regards how to improve the competitiveness of listed banks, we came up with recommendations based on the differentiated competitiveness. Listed banks can decide what kind of differentiated competitiveness to develop based on their own resource endowments and future market demands. For example, precious metals, online banking, mobile banking, and credit card services have shown rapid growth in recent years. Banks with potential advantage in these areas may develop related businesses, and accordingly form their differentiated competitiveness. Besides, fostering the differentiated competitiveness should not only combine future demands, but also combine unique advantages. For example, CITIC Bank may be suitable to carry out business closely connected with securities because it is backed by CITIC Securities; Ping An Bank may be suitable to carry out insurance business because it is supported by Ping An Insurance. Take the ABC as an example, we specifically discussed how to improve its differentiated competitiveness. The Agricultural Bank of China (ABC), the former can be traced back to Agricultural Cooperative Bank founded in 1951. It is the first professional bank established during the New China period and the first state-owned commercial bank established in New China. The Agricultural Bank, as the name implies, originally provided services for agriculture and farmers. At present, the ABC ranks third in the market value of listed banks, second to ICBC and CCB. For the ABC, its strongest differentiated competitiveness comes from agriculture. At early time, it was positioned in serving agriculture and farmers. Based on this, we came up with the following recommendations for the ABC to improve its differentiated competitiveness.

(i) Strengthening the brand image of agriculture and enhancing the brand image of serving farmers. Such brand image is innate and natural. So strengthening will be smooth and will save much effort. If abandoning the main position, it will be very difficult for ABC to compete with ICBC for the image of "citizens" and "business and industry" or even compete with BOC for "overseas" businesses.

We extracted the concept of differentiated competitiveness from ideas of Professor Leften Stavros Stavrianos about the national competitiveness, and analyzed the competitiveness of China’s listed banks. Besides, using the idea of differentiated competitiveness, we explained why the BOC will overtake the CBC and ABC on the profit list. This is because the BOC has a strong ability to differentiate itself and is oriented overseas, and it has the differentiated competitiveness that other three banks do not have.

Requirement Analysis of Intelligent Editing of Academic Journal……………HU Yi(1·83)

2.1.3 Michael Porter’s five force model. Professor Michael Porter used a simple model to bring together many different factors, as shown in the following diagram (Fig.1), to analyze the basic competition situation of an industry. The five forces represent the five sources of competition: the bargaining power of suppliers, the bargaining power of buyers, the threat of potential entrants, the threat of substitute products or services, and the rivalry among existing competitors[4]. For China’s banking industry, suppliers are depositors (including enterprises and individuals). Buyers are enterprises or individuals with demand for loans. Potential entrants include financial institutions (other than banks) as well as overseas banks. Substitute products include the stock market, real estate, collections, bonds, and the rivalry is the competition between banks.

(iv) Weakening and shrinking overseas business. The image of the ABC is far from its overseas business, and they are quite irrelevant with each other. It is recommended to shrink the front line in this field and concentrate on the domestic market.

(v) Caring more about agricultural public welfare, serving agriculture, farmers, and rural areas, and striving for seeking policy support. In China, how to obtain policy support is also one of the core competitiveness. To obtain the state support, it is required to serve the state strategic goals. Developing agriculture and developing rural areas have always been China’s basic state policies. In this situation, the ABC may focus on serving the rural areas, serving agriculture, serving farmers, and providing various financial supports for rural areas, agriculture, and farmers. At the same time, public welfare projects should focus on deepening the rural areas. After these tasks are completed, the state will naturally consider the contribution of the ABC to agriculture, rural areas, and farmers, and provide various policy supports in this field.

(vi) Making various financial innovations. For example, the application of blockchain technology, the application of digital currency, consumer loans and cash loans for farmers, mortgage loans for farmers and rural collective enterprises, and financial services for land and houses with limited property rights. It is recommended to provide financial support for various agricultural, forestry, animal husbandry, and fishery transactions.

(vii) Promoting competition and encouraging the development of small and medium-sized banks, to improve the competitiveness of the entire banking industry. The current banking industry is largely characterized by the oligopolistic market, and such oligopoly is mainly due to administrative measures, not because the market’s survival of the fittest, this overall efficiency is likely to be low, the total social welfare may not be the most excellent. If the whole market structure is to be transformed into a monopolistic competitive market, or if the oligopoly formed by the free competition through the market and the management and management capabilities will change, it is likely to improve the competitiveness of the entire banking industry and improve the welfare of the entire society at the same time.

Progress in typical coal-based surfactant research 7 36

采用有限元软件ABAQUS建立类方形蜂窝夹层结构精细有限元模型，分别对四边简支条件下双壁厚和等壁厚类方形蜂窝夹层结构进行模态分析。模型尺寸如表2所示，夹层结构上、下面板及夹芯材料均采用Al6061，在夹层结构的4个边界处分别施加平行边界方向及z向位移约束，模拟简支边界条件；表3为双壁厚和等壁厚类方形蜂窝夹芯的等效弹性参数。

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