Private banking key to their development

Funded by the Chinese bank customers that the financial assets) of more than 8 million yuan (1.17 million USD), or 10 million yuan (1.46 million USD. By conservative estimates, there are at least 500 thousand people whose financial assets are more than 1 million U.S. dollars by the end of the first quarter of 2009 in China’s total financial assets of more than 5 billion U.S. dollars.
Order to retain more shares of the private bank, the private banks in China are the key to its development in the herd. Now they put private banking offices in major Chinese cities, and then open up the market with high-income group.
The battle for the bank to attract clients are private banks and banks with foreign capital are becoming increasingly popular. When clients choose a private Bank of China, they are suitable to choose the joint-stock banks and foreign-owned banks. State-owned commercial banks, but is slightly lower because the quality of services and much more.
At the end of 2008, China Merchants Bank has opened seven private bank in Shenzhen, Beijing, Shanghai, Tianjin and Harbin for the customers of the arrival in 6398 of 36% over the year to year, and the management of private banks reached 129 active customers , 9 billion yuan (18.56 billion U.S. dollars) by 34% over the year to year.
April 1, 2009 will be Agricultural Bank of China announced a strategic restructuring of retail banking and help the integration of retail banking. Therefore, it will offer 5 private banks, 15 gold focus of asset management and 500 financial centers and key management. In addition, the Agricultural Bank of China were first set up a private banking branch in Shanghai and private banking departments at the headquarters of banks and branches in Beijing, Shenzhen, Ningbo and Tianjin, etc., which are abundant and available high - end-customers directly to the extension of resources and maintenance of private banking clients.

On the afternoon of 2 April, a center for private banking in China CITIC Bank, a panel convened macroeconomic and was originally involved in the macro-economic group. China CITIC Bank, said the establishment of macro-economic groups of consultants is the provision of value added services for the analysis of macroeconomic trends, investment companies and investment analysis staff for private banking clients. With a large potential market for private banking in China, but there are still missing. Chinese banks have little time for the construction, lack experience and want positioning and customer service to find without special features.
As for the foreign funded banks are concerned, their services and expertise are difficult in a short time living in China because of strikes in the international financial crisis and severe political restrictions translate the prudential banking sector in China. Now remove the advantages and benefits of the financial crisis, banks in the Chinese capital profits painful and politically. Banks with foreign capital are difficult for the establishment of Chinese banks is funding a close personal relationship with customers, because of variations in cultural backgrounds and communication in January 2009 compared to Citi Bank, the first bank in the creation of private banks in China, closed its banking services to private companies is set up in place for about three years. The first customers were all in the retail business. But the private banking in the Chartered Bank has announced that clients of a private two folds at the end of 2008 and 2007.
Moreover, Chinese banks have financed political benefits, lower service reduction compared to banks with foreign capital. Chinese banks have financed an advantage by means of the Internet in China, several cities and provide inter-regional cross-business customers.