The Research On The Development Strategy Of Personal Finance Business Of Shenyang Branch Of Bank Of China (Shenyang Branch Of BOC)

Following the economic growth of China and a substantial increase in citizen's income level,personal owned financial assets have been increased continuously.Personal finance has a dramatic growth because it provides hedge and value-increase in assets against inflation.With more and more intense market competition,the traditional business model that based on the deposit and lending spreads can no longer satisfy the market nowadays,therefore the banks need to find new profit growth point,i.e.personal finance services(PFS).Especially during the business transformation period of the Chinese banks,PFS as being a new profit growth point has been highly emphasized for its broad prospects.Under the current reform of the mechanism of the banking system of Shenyang branch of BOC,the development of PFS has been recognized as the main core and focus for improving its Personal financial business.This article carries out a research in this particular domain for Shenyang branch of BOC.Firstly,a literature review in the global PFS area is introduced in this article,the current status of the development of PFS is described and the basic theory behind PFS was analyzed.Secondly,SWOT is employed to analyze the threat and opportunity from banks external environment and their internal Strengths and Weaknesses such that the circumstances happening during development of PFS of Shenyang branch of BOC can be fully understood and controlled in all domains.Thirdly,in order to realize the differentiated marketing strategy,the author provides different financial products to aim at different target markets base on by executing the market segmentation and selecting the sales target market while combing the current situation of Shenyang branch of BOC.Therefore,the development strategy of PFS in Shenyang branch of BOC is inducted.Overall speaking,this article provides an effective reference for Shenyang branch of BOC of how to face the fierce competition and establish its own competition advantage against others by proposing suggestions in a few areas in its PFS,such as Channel Construction,CRM,Product Innovation,Marketing Strategy,and Personnel development etc.