The present situation and strategy of the development of private banks in China

Abstract

After reform and opening up, Chinese GDP increased rapidly and there are more and more high net wealth group in China. After 2007, there was the first private bank in China. Private bank plays an important in China economic system now. During the 12-year development, private bank developed very quickly and successfully in China. Now more and more high net wealth group let private bank manage their wealth. This paper wants to explore the development of the private bank and find out the problems in the development of private bank. After that, the paper will offer solutions for these problems. To answer this questions, I did a survey about the choice of private bank among 55 WKU business students. Besides that, I used a weighted value model to calculate the results and sort the factors’ importance about the choice of private bank. At last, I offer some suggestions about the development of private bank in China.