A Research On Personal Financial Service Of Commercial Banks In China

The personal financing service provided by commercial banks targets on individuals. According to customers' assets and affordability, commercial banks use advanced financial knowledge and different kinds of financial tools to ptovide customers with financing advices and personalized financing products. It aims to hold and appreciate customers' property values and guarantee maximum earnings when the the risks involved are fixed.The personal financing service is a new bank business rising in 1980s. It first appeared in American, then spreaded to some developed countries and regions. Almost every family enjoy PFS aboard, meanwhile, commercial banks in developed countries and regions all have set up R&D systems, service networks and marketing systems that operate seperately and concordantly. At the same time, foreign banks are experienced in management, marketing and risk control. Nowadays, PFS in developed countries and regions have entered a new phase. Foreign commercial banks are not only busy in contesting new clients, but also they are competing for personalized financing products. PFS is occupying an important place among all bussiness and it has became a key factor in competetion among commercial banks all over the world, and influenced the strategies they adopted greately .The rapid growth of Chinese economy and constant accumulation of wealth have brought increasing demand for personal financial service .Meanwhile, foreign banks have also acquired the national treatment since 2006, which means that foreign banks can also serve native citizens in the market of PFS. Foreign commercial banks have builed up several banking centers to expand their market share. In the light of two-eight law, 20% high quality clients can brought 80% earnings for commercial banks. As a result, with advanced technology and rich experience, banks of developed countries and regions will compete with domestic banks in the market of PFS fiercely .In this article, firstly the author introduces the concept of PFS and five theories relating to it. In the second part of the article, the author presents personal financial services in foreign countries and China. On the basis of the presentation, the author contrasts them from the perspective of products, services and staff. After that, the author poins out the necessity to develop personal financial services in China. In the forth part of the article, the author illustrates the obstacles to personal financial services in China from the aspects of macro and micro. Finally, the author proposes related solution.