Research On Private Banking Development Strategy In Guangxi

The outbreak and continuous fermentation of the global financial crisis is presenting new higher challenges and requirements on banking sector development. With the constant introduction of the New Basel Capital Accord Ⅲ,"Dude-Frank Act " of the United States, and other financial regulatory tools and policies, as well as the transformation of China’s economic growth, the strategic transformation of China’s banking industry once again becomes the focus of attention at home and abroad. Practice has proved that great efforts to develop private banking for high-end customers have become an important way to bank strategic transformation and a new profit growth point.The economy of Guangxi has continuously maintained double-digit growth over ten years. Residents get a rapid accumulation of wealth; personal financial business is growing. Accompanied by high-end customers’ growing demand for business, as well as the continuously development of the personal finance business in commercial banks, private banks in Guangxi rises from bud to a new stage. However, the private banking is still in its infancy, and remains to be further breakthrough on the mode and policy of development, due to the factors of economic backwardness, small financial aggregates, weak innovation ability, and non-sufficient market competition and so on. At present, Guangxi is facing lots of significant opportunities, such as completion of China-ASEAN Free Trade Area, and the opening-up and development of the Beibu Gulf Economic Zone as a national strategy. We should draw domestic and foreign advanced experience in private banking to increase efforts to the development of private banks in Guangxi, and gradually explore a path of development in line with Guangxi’s actual. It is of great significance for enhancing the Guangxi Banking core competitiveness and achieving sustainable development.By building the SWOT analysis model, this article analyzed market conditions and the pros and cons of conditions of private banking in Guangxi from the macro and micro point of view, thus cleared the strategy path of the private banking development in Guangxi. Meanwhile, it put forward concrete ideas and suggestions of developing private banks in Guangxi by learning from the main experience of the private banking development of Western developed countries and domestic developed areas.