Research On The Development Of Guiyang Bank's Wealth Management Business Under The New Asset Management Regulation

After more than a decade of continuous development,bank financing has become an important organic part of China’s asset management industry,with rapid expansion of the scale of bank financing services and a constant increase in bank financial products.While the financial business is flourishing,there are several concerns with bank financing,including last resort,multi-layer nesting,the operation of cashing pooling and maturity mismatch.To stimulate and steer the asset management industry back to its roots,the People’s Bank of China issued new asset management guidelines in April 2018,in coordination with a number of agencies,and related supporting management measures were promulgated one after the other.As a result of stricter policies and regulations,higher standards have been set for how commercial banks’ financial services should transform and develop.This paper outlines the development of the Bank of Guiyang’s financial service in light of the new asset management guidelines,using the Bank of Guiyang as the research object.To begin with,it introduces the new asset management guidelines’ background,highlights their key points,and systematically teases out theories relevant to commercial banks’ financial services,such as STP theory,marketing,and risk management.This study also highlights the current development of Bank of Guiyang’s financial service from a variety of perspectives,including bank financial product and operation mode,customer retention,financial team building,financial service system support,and so on,generalizing the impact of the new asset management guidelines on Bank of Guiyang’s financial service.The relevant results were reached by summarizing the features of the sample from a questionnaire survey on the financial service provided by the Bank of Guiyang in Guizhou Province.While the Bank of Guiyang’s financial service is expanding rapidly,there are still issues such as a lack of experience in asset management services as well as professional talents,insufficient experience in customer retention,a weakness in financial technology,and a weaker risk control ability.Based on the preliminary analysis and the actual situation of the Bank of Guiyang,this paper proposes that the Bank of Guiyang should broaden its geographical advantages,explore the demands of local clients,and develop targeted marketing strategies.It is also proposed that the Bank of Guiyang accelerate business transformation and product management,etc.in accordance with marketing theories such as the 7P,4C,and4 R.Furthermore,to increase its risk management ability,the Bank of Guiyang should adhere to the principles of comprehensive control,systematic management,prevention-oriented,and clear responsibility,according to risk management theory.Simultaneously,Bank of Guiyang is anticipated to optimize the competitive edge of the financial business through the level of technology services,talent team building,and the application of financial subsidiaries,with the intention of providing some reference to promote the transformation and development of Bank of Guiyang’s financial service.