The Comparison Of The Competitiveness Of Financial Business Between The Chinese Local Banks And The Foreign Banks In China

Personal financial service is regarded as one of the core business of banking industry. With foreign banks have accelerated the layout of the financial business in China, the Chinese local banks have faced greater pressure in the financial business. Do the Chinese local banks have enough competitiveness to cope with the pressure of competition from foreign banks? Whether foreign banks have enough competitiveness to seize the personal financial services market in China? Based on these problems, this study compared the competitiveness of Chinese local banks and foreign banks in the personal financial business.This research mainly includes 6 parts: The first part is the introduction, which briefly introduces the background, significance, content and method of the research, and reviews the relevant literature. The second part is the definition of the concept and the theoretical overview, and the related concepts and theories are introduced. The third part is the comparison of the foreign banking and Chinese local banks in the financial business. In the fourth part, the competitiveness of Chinese local banks and foreign banking in the financial business is compared through qualitative and quantitative indexes. The relevant suggestions were put forward in the fifth part. At last, the research is summarized and prospected.After research, the following conclusions were getting: firstly, the personal financial services in China had a rapid development in recent years. At the same time, the personal financial services of foreign banks and Chinese local banks have also achieved rapid development. Secondly, foreign banks and Chinese local banks all have the advantages of each other in the personal financial business competition. As far as foreign banks, the competitive advantage is mainly reflected in the higher service level and the more yield. The competitive advantages of Chinese local banks are concentrated in the channels, public awareness, product variety, and larger customer base. Thirdly, some suggestions were put forward. The Chinese local banks should make full use of customer and channel advantages, pay attention to improving the quality of service and risk management, innovating marketing ideas, and vigorously cultivating the low-end customers to create core competitiveness. Foreign banks should play a management advantage, and actively improve the brand influence of financial services in China. At the same time, make good use of national policies, increase localization development efforts and actively expand marketing network. In addition, foreign banks and Chinese local banks should actively promote the Internet + to achieve the financial services better development.