Study On Retail Customer Product Innovation Strategies Of China Merchants Bank

The prominent trend in the development of international banking is showing the importance of retail business and even promoting the bank income since the seventies of the 20th century. Overall, the motivation of promoting the rapid development of international banking retail business has the following reasons. First, the development of capital market has corroded the financing space of banking. The commercial bank has been forced to change its importance of business development into retail banking business. Second, the function of commercial bank is transforming financing medium into wealth management one and it is common that the function of commercial bank as a financing institution is becoming less and less, which the strategy orientation of commercial bank is transforming into the retail business. Third, with the rapid growing of middle class and their vigor in financial consumption, they have promoted greater requirement. They also change their requirement constantly, which have been forced commercial bank's innovation for their own retail product. Forth, with the rapid development of the information technology, it promotes strongly its transformation from traditional operation model into service one. The bank counter has changed traditional trading type into sale type, which also promotes the pace of creation in banking retail product.Recently, the domestic banking is confronted with the above change. With the rapid springing of capital market in our country and activating of private capital as well as improvement of resident income and increasing promotion of consumption model, most of banks have started strategy change. One of the important aims is to develop the retail banking vigorously and big retail direction. Under this background, it is a real topic for China Merchants Bank to face with:how to draw lessons from international advanced bank's experience effectively; catching retail customers'financial demanding change; winning over the target customer through product's innovation; extending business space and promoting operational achievement.This paper uses the research methods of systematic study, multidisciplinary synthetically research and qualitative analysis and quantitative analysis to explain the relevant theory of financial innovation in domestic and oversea for the above problem and analyze the present situation and differences of retail banking product innovation in domestic and oversea recently. It combines with basic information of China Merchants Bank to analyze carefully the present situation and problem of six change of present private customer requirement in our country and China Merchants Bank retail product innovation. As for these problems, I propose the five policies of China Merchants Bank retail customer product innovation and measures of needing improvement to realize these policies.