The Problem of Personal Financial Services of Commercial Bank in China

With the rapid and stable economic increase of China, the income of the urban and rural residents is continuously growing. On one hand, the growing residents' wealth and the reform of the social security system will certainly result in the increase of their personal finance awareness and demands. On the other hand, the personal financial services of commercial banks have developed more than ten years in our nation, but it hasn't been several years before it was really paid attention by the domestic banks and recognized by the residents.

Still in its initial stage as a whole, the personal financial services of the domestic commercial banks have rapid development, increasing expanded product scales and types. And its products have stably extended basic asset range and gradually complicated design. But we have to realize clearly that under the restraints of the financial law systems, the financial management systems and the development of the financial market, our personal financial services still need to face all kinds of difficulties and challenges.

So it is a long-term task for our banks to carefully tackle the problems in the personal financial business, improve the management of financial business risks, strengthen the supervision of the personal financial business and create a suitable development model for the personal financial business of our domestic commercial banks.

From the perspective of the demands of Commercial Bank Personal-Financial Services, a field research of the residents' personal finance in Zhenjiang city is implemented in the form of questionnaires according to the rationale and approach of market segmentation. By the logistic model analysis for the obtained data, it is expected that the factors which influence the whole demands and needs of our nation can be found. Based on the above analysis and a case study of China Construction Bank, we provide the analysis of the strengths, weaknesses, opportunities and threats (also called SWOT analysis) in the process of Personal-Financial Services provided by the Commercial Banks. We presents some effective and feasible measures from four aspects combined with the analysis of the above which is significant in theory and reality for facilitating the development of Commercial Bank Personal-Financial Services in China.