Research On Legal System Of Private Banking Business In China

Private banking service is the most important sector among various bankingservice businesses, it is the key rising factor of commercial bank profit, and it is alsothe breakthrough opportunity for banking service’s future development. Thoughprivate banking service has gone through hundreds of years in western developedcountries, but in China, it is still a new and frontier banking business. Along with therapid development of China’s economy, and the increasing of its people’s wealth,private banking service gradually gets its own development. In light of its primarydeveloping stage, the focus on private banking service is located on its very ownbusiness model, there’s significant lack of attention being paid on relevant legal issuesrelated with private banking service, hence, there’s no laws or regulations on theissues of private banking service. And the imperfect side of China’s financing legalenvironment has also attributes to a great deal of legal issues related with the privatebanking service practice. Research on the typical legal issues arising within this verysector can help us better understand of its rule of development, and cope with certainlegislature and judicial problems at its first infant level, hence creating a better legalenvironment for private banking service’s healthy development. The vigorousdevelopment of private banking service also ask for the supporting of legal system.This essay hereby is focusing on the designation of a complete legal framework dealwith the issue of private banking service, which can provide a systematic support forthe rapid and healthy development of china’s private banking service.The methodologies employed by this essay are as follows: first, give a briefintroduction of its development of private banking service in aboard by using themethodology of historic analysis; second, applying the methodology of exampleanalysis by analyzing the shortage of related laws and regulations in China’s privatebanking service sector; and come up with a guidance of how to improve the relatedlegislature activity in China; Third, by comparing the legal system applied in theinternational market, the United States, Singapore and Swiss with that of China, this essay will make a conclusion on the systematic legal system construction in China’sprivate banking service.Aside from the introduction and conclusion parts, this essay is consisted by fourmain parts.The first part is mainly dealing with the basic introduction of private bankingservice, by introducing its beginning, theoretical concept and unique characteristicdifferent from the retail bank, the business scope of private service bank is defined;and then it will give a brief note of the current status of private banking service bothin China and aboard, at the last of this part, this essay will draw a conclusion aboutthe legal system of China’s private banking service both from a board perspective anda narrow one, and also analyze the current legislature status of China’s privatebanking system.The second part of this essay is focusing on the analysis of the basic legalrelationship, financing freedom and financing supervision, and give an emphasis onthe analyzing of the shortage of the legal systems in relation with the legal regulation,financing supervision and the financing legal system of the society.The third part of the essay is mainly focusing on the detailed analysis ofanti-laundering law, the confidentiality system, supervision system and individualcredit system of developed countries, such as, Swiss, the United States and Singapore,and trying to figure out what China’s private banking service can learn from thesecountries’ related experiences.The fourth part will draw a blueprint of China’s private banking service legalsystem, which mainly includes the improvement of its private banking service, mixedbanking service operation, reforming of China’s currency exchange system,improving China’s Anti-laundering legal system, financing privacy right legal systemand individual credit legal system and so on, by which can make a fertile legalenvironment for the development of private banking service.