Analysis on development of foreign private bank in China

Private bank is the high-end business of international commercial banks which is provided only by international banks or financial groups. Since 2007, private banking business was firstly worked out by the Bank of China, with the increasingly opening of finance in China, personal financial service is becoming a competitive and challenging field in which all commercial bank can gain high profit. But China’s private banking market is still in the primary stage of development. Beginning with the development background of HSBC’s private banking business, an in-depth exploration into the development pattern and suitable strategies of private banking business is made in this paper. Finally put forward proposal for the development of private banking business in China by learning from foreign experience.