In recent years, there have been developments to transit China’s economy from a government-run and centralised model to a market-driven one, focusing on consumption and services. With China’s economic structure undergoing profound changes and becoming an increasingly open market, the wealth management and private banking businesses will gain traction with more opportunities for growth.
There are also internal and external challenges faced by the domestic commercial banks in terms of regulatory requirements while shareholders’ demands and customers’ needs have evolved. Stock market fluctuations, variation in the RMB exchange rates as well as external factors have also posed challenges.
Still, this is an exciting time for commercial banks and financial institutions to develop their private banking business. There is a greater appetite for a wider scope of investment offerings and diversification amongst the wealthy in China. To build a lasting business, banks need to strategize and evolve their business models to facilitate a more robust market.
The Asian Banker’s inaugural China Private Wealth Dialogue will discuss the future trends and developments in the local industry. It is also a great platform to share professional insights and capitalize business opportunities for all market players.
Key topics to be covered: