The China Internet Finance Association's Financial Science and Technology Development and Research Committee jointly established a think tank to form a digital transformation group for commercial banks. The research team conducted a questionnaire survey for 51 various types of commercial banks, and visited more than 10 representative commercial banks and financial technology companies to form the "China Commercial Bank Digital Transformation Research Report". The "Report" was officially released on October 18. According to the "Report", on the whole, the digital transformation of China's commercial banks is accelerating. Commercial banks have accelerated the transformation by increasing investment in transformation, recruiting digital talents, building a unified big data platform, and improving online channels and outlet services. From the perspective of technology application, big data and biometric technology are widely used in research banks, and blockchain and IoT technologies are relatively rare. New Internet banks and large state-owned commercial banks are more active in technological innovation applications.