Research On The Innovation Of The Personal Financial Product Of Domestic Commercial Bank

Since China’s reform and opening up, along with the rapid development of market economy and its increasingly mature, as well as people’s continuous accumulation of wealth, People’s financial demand began to Continuously improve, and finance investment customers have risen sharply. All this contributed to the rapid development of personal finance product of our country’s commercial bank, and at that time, plenty of wealth management products in the financial market began to emerge quickly, the competition between banks became Increasingly fierce. In order make the banks themselves in an impregnable position in the intense market competition, and meet the diverse needs of the different age levels of customers, finance products gradually become the point of innovation and breakthrough of the commercial finance institution’s profits.However, only by constantly improving and perfecting financial market system, can exert the subjective initiative of financial product, and promote the profits and benefits of the financial institutions. So, in the continuous reform and innovation under the environment of market economic system, our commercial financial institutions should strengthen the innovation of financial products, and develop new products in accordance with the demand of customers and market through the understanding and grasp of customers’ basic requirements. By this means can make up for the insufficient and defects of current financial products market, and raise their core competitive power of market. And finally, the financial institutions can seek a path of sustainable development.This article compared and analysed the current innovation of the personal financial products of the bank of China Xuancheng branch from two aspects include the manifestation of the innovation of our country’s commercial banks’ personal finance products and the concrete practice of the commercial banks’ personal finance products’ innovation of foreign developed areas. Pointed out that the innovation of personal finance products of the bank of China Xuancheng Branch faced obstacles, and the specific deficiencies. Based on these, some specific countermeasures and Suggestions are raised in how to improve the personal financial product innovation ability ofthe bank of China Xuancheng Branch, in order to promote the personal finance products of the bank of China Xuancheng Branch development more robust in the future, and meet the diversified demand of different investment customer group, and finally improve the competitiveness from business ability, between the bank of China Xuancheng Branch and the commercial Banks of other region.