The Research On The Personal Financial Services Of China's Commercial Banks

Foreign commercial banks have great superiority in Bank′s Intermediary Business . Personal Financial Services are the profits which foreign banks are competing for. With the development of the financial markets and international co-operative, banks compete each other increasingly. Domestic commercial banks change the traditional concept in management and begin to develop bank′s intermediary business, in particular Personal Financial Services, to enhance the bank's survivability and competitiveness.Personal Financial Services started from Switzerland, promoted in the United States, Europe ,Asia and other developed countries, etc. It has become a major business in foreign banks. But it is still in its infancy in China. Domestic commercial banks have set up various types of financial centers, studios and supply a series of personal financial services. Personal Financial Services can catch more opportunities in financial market. It has become the competitive focus between domestic and foreign banking.with the average level of residents′income and the total assets increased, domestic financial consumers′attitudes has changed and individual awareness about finance management has grown. The scale of Personal Financial Services has developed rapidly in china. It has become the core competence in commercial banks'retail business and financial operations.In today's china, however, the financial products and services provided by commercial banks are lack of professional management team, short of market segmentation, poor in marketing channels, etc. Based on these problems, the issues draw on experiences and lessons about advanced foreign countries and regions, combined with domestic national conditions, and then made recommendations applicable to personal financial business development in China's commercial banks. In order to promote personal financial services of China's commercial banks healthy and rapidly.