Research On Personal Financial Business Managementof Agricultural Bank Of China

Under the globalization of the world financial services, China’s financial industryhas developed in depth in recent years. As a result of that, higher requirements for theChinese commercial bank’s financial services have been raised. With increasingdomestic income and improved financial literacy, expanding financial market becamean indisputable fact. Merrill Lynch Global Wealth Report reviewed that in2003, therewere over236,000millionaires in mainland China, their total wealth reached969billon US dollars. That means there were around240,000multimillionaires if theirwealth were measured in RMB. According to the Boston Consulting Group (BCG)newest research, in Asia financial market2003(excluding Japan), over50%of6.4trillion US dollars asset management fund came from mainland China. It predicted thatto the2008Beijing Olympic Games, wealth growth rate in mainland China will reach27%, that is about4.2trillion US dollars in total. Mainland China will become the theleading force in financial market development. As a result of that, chrematisticbusiness plays an increasingly important role in commercial bank’s business services;management of chrematistic business becomes necessary and urgent.First of all, this paper introduces the background, significance and methodologyas well as elaborates the banks’ financial business knowledge.Secondly based on the classification and characteristic of commercial banks’personal financial services and the summing up of current status of Agricultural Bankof China (ABC)’s personal financial services; this paper points out the problems ofABC’s financial service products in innovative design, organization coordination,marketing services and sales management through the use of literature analysis,empirical research and analysis, quantitative analysis and qualitative analysis.Finally, this paper offers suggestions to improve ABC’s financial servicesmanagement from product lines, marketing, financial services management, humanresources management, performance assessment and incentive mechanism as well asrisk management system. Furthermore, this paper provides a valuable reference with aview to the future of domestic commercial bank financial business development.