A Study On China Merchants Bank With The Development Of Larger Asset Management Personal Wealth Management Services

With the macroeconomic development of China and the increase of residents wealth,people are increasingly aware of financial management.With the development of financial technology and the introduction of relevant policies and regulations,China’s asset management industry is facing unprecedented opportunities.In 2018,the introduction of the new regulations on asset management marked the official start of what many calls big asset management era of unified supervision in China.The era of big asset management is a time to break the boundaries of banks,securities,insurance,funds,futures,trusts and other industries.The asset management industry is expected to enter a period of competition,innovation and mixed operation.In the context of the era,competition in the financial industry has intensified;wealth management business has sprung up;and competition among commercial banks has become increasingly fierce.By reviewing and sorting out the research of domestic and foreign scholars on personal finance business and theories related to big asset management,we summarize the development history of domestic commercial banks wealth management business and analyze the current situation and prospect of the business in the current context.Introduce the changes and transformation requirements of China Merchants Bank after the new asset management regulations.Using PEST analysis and SWOT analysis,we examine the problems in the external environment in the development of China Merchants Bank’s personal finance business,including competition,potential newcomers,substitute products or services,bargaining power of suppliers,and bargaining power of buyers.Based on the analysis of the strengths and weaknesses,threats and opportunities of the bank’s personal finance business,the study concludes that the bank’s personal finance business should be focused more on the strategic requirements of transformation and upgrading services,such as personalized customer services,strengthening of product investment and research capabilities and special investment and research.Finally,the development strategies of personal finance business of China Merchants Bank are elaborated in five aspects: product strategy,channel strategy,brand strategy,customer strategy and promotion strategy.