Since its emergence in 2005, China’s online video industry has been embroiled in rampant piracy. Nevertheless, online video piracy has sharply declined in recent years, and copyrights have become a widely accepted and practiced legal norm. With reference to historical institutionalism, this article considers copyrights as an institution and embeds the decline of China’s online video piracy in institutional changes of three copyright-related institutions: legal regimes, administrative regulations, and the online video industry. It argues that even though intervention by legal regimes cannot simply be overlooked, an interest-led institutional change in which the industry first diverges and then converges with administrative regulations is pivotal to the institutionalization of online video copyrights. These findings further our understanding of how China’s online video piracy is sustained or undermined with a holistic, historical, and dialectical outlook.

China's financial reform direction is to significantly reduce the proportion of indirect financing, increase the proportion of direct financing. Therefore, commercial banks in order to cope with the increasingly fierce market competition, have taken the initiative to carry out business development strategy adjustment, and business transformation focus and breakthrough point is to vigorously expand investment banking business. This paper discusses the necessity, business development direction and key areas of commercial banks from the development of investment banking.

Abstract.The asset management business of China's commercial bank is a financially innovated business that gradually develops under interest rate control, disintermediation, and separated supervision.Step by step, it has become the priority in the future strategic development and a new profit growth point in every commercial bank. This paper discusses the development background, business development direction and key fields of the asset management business of commercial banks.

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