Research On The Innovation Of RMB Financial Product Of Commercial Bank

With RMB business opening to foreign bank, domestic commercial bank will face the challenge from the foreign bank more hotly as for Personal banking. Research on the Innovation of RMB Financial Product is very important for Domestic commercial bank. This paper observe the development process and current situation of RMB Financial Product, classify the different products, sum up the character of all the RMB Financial Product, conclude the character of innovation products by comparing the characteristic of different personal financial products.Firstly, relevant financial theories and innovation process overseas will be introduced, then it proves the importance and necessity of innovation for personal RMB products based on demand, macro environment and banking competition, etc. Secondly, it classifies different RMB financial products by comparing the characteristic of different personal financial products, innovative products and analysis characteristic of RMB financial product.Thirdly, it observes the development process and current situation of RMB Financial Product, at last it provides corresponding advice after analyzing the existing problem and reasons.The paper finds that although commercial banking have realized the importance of products innovation, there are still some serious problems such as simple structure, limited products and unreasonable price. And it suggests we must deepen reform on economic regime and banking, meanwhile pay more attention to self-service, brand, combined and individualizing of products.