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Private Banking Policy Support Will Increase.

2011/9/21 14:24:00 31

Private Banking Policy Support Increased

Yan Qingmin:

private

Bank policy support will intensify


Yan Qingmin, assistant chairman of the China Banking Regulatory Commission (CBRC), said at 20 China Banking Private Banking joint conference that private banks have broad prospects for development, and their development will also boost commercial banks' business pformation.


Yan Qingmin said that the "12th Five-Year" period will be China's private sector.

Bank

The key strategic period of development, the key factors that affect the development of private banks in China include: first, increasing the base of market customers.

At present, China's economic growth has changed from pre policy to independent growth, and the future economic growth will maintain sustained and rapid growth.

With the development of China's private wealth, private banking customers are also growing.

Two is the relative competitive advantage.

On the one hand, the private banking business has begun to take shape. From the traditional bank financial products to the customer oriented personalized demand and diversified asset allocation, on the other hand, after the financial crisis, China's high net worth customers' risk preference is more robust and more reasonable. Especially with the change of monetary policy, the demand for financing business has significantly improved, which is more suitable for the traditional competitive advantage of commercial banks, and will also enhance the relative competitive advantage of private banks.


Three, policy support will be increased.

During the "12th Five-Year" period, the government proposed to create conditions to increase residents' property income.

Advancing interest rate liberalization, exchange rate reform and cross border RMB use will also enrich the types of private banking products.

The regulatory support of the CBRC is also being strengthened.


 
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