Interpreting Current Situation Of Personal Financial Services In Domestic Commercial Banks

Since China joined into WTO, the timetable of our banking industry has been setdown: it will permit foreign banks operation of RMB currency commercial businesswithin two years;it will allow foreign banks have complete permission that they canaccess our market freely, operate RMB currency retailing business and enjoy thenational benefits in particular area within five years. As such, Chinese bankingindustry of retailing business would encounter huge challenges.In this report, it shows the research and analysis of personal financial services indomestic commercial banks in order that it may find the possible strategies ofpersonal financial services in Chinese banking industry.In relation of the issues above, the repot consists of three parts:1. In term of personal financial services concepts, the elements of this businessinclude clients, customer managers, financial products (instruments), financialdistribution, financial services center and IT system. As far as contents offinancial services are concerned, it has three layers, i.e., self-assistant financialplanning, financial consulting services and wealth management.2. In term of current situation of personal financial services in domestic commercialbanks, it shows an unexplored market of personal finance on the one hand, andthe financial products and services of domestic financial institutions cannot meetthe various demands of the clients on the other. There is a great correlationbetween bank's earnings and operative levels of its personal businesses.3. In term of resolving current problems in commercial banks, it focuses on theoperating chain of commercial banks and analysts VIP mining, innovation ofproducts and services, building up professional financial services teams.