Obstruction And Enhancement Factors To Private Banking

Reform and opening up policy and China's steady economic growth result in nationwide capital accumulation and individual wealth concentration, and create a large group of potential customers for private banking business. Meanwhile, other factors including China's transformation in banking sector and exchange rate system bring out huge opportunities for private banking. Referring to the evolvement of international private banking, China's private banking is almost around the corner. It is the pressing time to study the development of private banking.Private banking is part of retail banking, a kind of high-level personal finance services developed by modern commercial banks. It is the essential fruit of retail banking evolvement, featuring high-end customers, financing expertise, wide business scope, considerable profit growth and contribution.International private banking with a long history of over 900-year evolution has been developed well in advanced countries, while it is still in embryo in China. There are only 3 Chinese banks offering private banking services in Mainland China so far. The paper will probe into the development of four well-developed global private banking markets to figure out the main factors to private banking evolvement, and then analyze China's current conditions for private banking business.There are totally seven sections in this paper. Chapter one is the introduction to research background and prospects. Chapter two is the introduction to private banking including its evolvement and products and services. Chapter three is the overview of global private banking. Chapter four is focused on evolvement of four global private banking markets including Luxembourg, Switzerland, America and Singapore. Chapter five comes up with the conclusions of main factors from comparing the four private banking markets. Chapter six will explain China's current conditions in these fields to analyze the feasibility of China's private banking development. Chapter seven is about suggestions to China's private banking development.