发展城市商业银行个人理财业务的制约性和可行性因素分析【外文翻译】

外文翻译

原文

Feasibility and Restriction Factors Analysis of Personal Financial Services’ Development Con ducted by the City Commercial Bank

Material Source: www.seiofbluemountain.com Author: Li Bin City commercial banks’ own reasons

(1) Adequate attention has not been given to Personal financial services, the market orientation is fuzzy. Although the city commercial bank has determined its market orientation as \the local economy, the small and medium-sized enterprise and the urban resident\system, concepts and policies, quite a number of city commercial banks did not reflect its real operating characteristics in line with this market orientation in their operation. Its market orientation is fuzzy, it paid insufficient attention to intermediate services including personal finance services and is lack of the urgency and initiative for services’ conducting.

(2) Has not really established a customer-focused service concept and lack of market segmentation. At present, most city commercial banks are still operating with the traditional concept of \or \focusing on businesses and neglecting the customer’s needs and value. Its market segmentation on the personal financial services is not good, divisions of high, medium and low end customers are unclear, customer structure is irrational, and customer management is more chaos. So they haven’t got a long-term, stable, mature customer base, and therefore, the targeted and differentiated products and services are scarce.

(3) Products are of unitary variety and marketing is inadequate. Due to the more support from the local government, the city commercial bank lives in clover for a long time. This led its range of products mainly concentrated in deposits and loans, products are of unitary variety and lack of features for most city commercial banks; Be enslaved to the lower level of science and technology and the quality of personnel, the city commercial bank hasn’t a clear product positioning and

development strategy, the ability of product innovation is infirmness. Coupled with the inadequate financial market and customer segmentation, the bank could not launch targeted, effective marketing, the market competitiveness is not so strong.

(4) Lack of technology and personnel support. With the continuous development of business, the city commercial bank had rebuilt its business system already, but the overall operational support system has not been fully established. Particularly, technologies supporting the service, marketing, security and other aspects are poor, the overall level of electronic and internet-based service is lower, and the difference of application level is also larger. Many city commercial banks haven’t offered services of Internet banking, telephone banking, mobile banking, and etc. IT support to the field of personal financial management is inadequate. Personal financial services should provide comprehensive customer services, there must be higher quality personnel with knowledge of business and financial expertise. On the whole, the quality of the city commercial bank’s existing staff is generally low, highly qualified personnel especially versatile ones with professional education and specialized in personal financial services are especially lacked. According to a sample survey made by relevant departments in 2004 on 20 city commercial banks, the ratio of the staff whose first degree was bachelor in city commercial banks was 5%, the ratio of staff with intermediate and senior title was 8 %, the ratio of the staff whose major was finance and economy was 26%, so the high-end professional is in a serious shortage situation. A lot of the staff does not possess comprehensive knowledge of the common financial assets such as stocks, bonds, insurance and funds. They are lack of own analysis and understanding of macroeconomic policies and micro-economic operations, so they haven’t got the ability to provide specific customers with financial management plans made to measure. Moreover, the majority of city commercial banks belong to local financial institutions, the developing space is relatively limit, so it is difficult to attract the genuine high-end talents, this made a low level of duplication of the old and new staff. Lack of talents is the critical factor constraining city commercial banks to develop personal financial services.

(5) Low level of risk management. This problem is one of the major obstacles restricting city commercial banks’ development for a long time. Although after more than 10 years’ development, there are many problems remain in city commercial banks’ risk management. Mainly demonstrated by the followings: have not established a sound risk management system, risk management activities are

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relatively concentrated in the traditional areas of credit; risk management technologies are backward, risk identification and property assessment capabilities are poor; information system needed by risk management is inadequate；risk management personnel is lack. Under the situation that China's market-oriented reform of interest rate continues to accelerate, the banking competition has become increasingly intense, the lower level of risk management makes city commercial banks lack a solid foundation in expanding the personal financial market and developing products

External restriction factors

(1)The restriction of the Segregated operation policy. Mixed operation is the trend of western financial industry’s development, but at present, China's financial industry is still a strict segregated operation. China's \prohibits commercial banks from mixed operation in our country clearly. This rule greatly related to the rectifying of financial order in 1993 that many banks do mixed operations with the absence of self-discipline , internal risk control mechanism, as well as inadequate external monitoring. The operation of this model is basically in line with current stage of China's economy and the level of the financial system’s development. But with the deepening and the accelerating pace of the financial system reform, especially in December 2006, the transition period of China's WTO accession went to the end, the financial industry was comprehensive opening, foreign banks and domestic banks are have the same treatment, many overseas financial groups with strength had went into various financial fields in China, the market competition is becoming increasingly fierce.

Foreign banks have very obvious advantage in the personal finance services and this business is its operating focus, their operation will greatly impact domestic banks on personal financial services, city commercial banks can not spared. February 2005,the \Governing the Establishment of Fund Management Company by Commercial Banks \China's financial industry, but most unlisted city commercial banks have not be legalized. Current restrictions on their operation make city commercial banks can not achieve in effective funds distribution, lack of flexibility of asset management and the ability of financial innovation is poor. So it would be difficult to provide their clients with comprehensive financial services, even so, it would only put forward the suggestion and can not carry out actual operation.

(2) Bad credit environment at this stage will be the an obstacle for personal

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financial services’ launching. Our citizens do not have a strong sense of honesty, the poor credit environment is a major chronic illness in China's economic development. Although China's social credit collection system has already formed to a certain scale, but loss of credit is still a widespread problem in current economic and financial activities. The city commercial bank did not pay attention to the establishment of the personal credit system in its past operation, and have no customer relationship management system, all these will be a threat to the content and efficiency of personal financial services.

译文

发展城市商业银行个人理财业务的制约性和可行性因素分析

资料来源：SEI数据库 作者：Li Bin 城市商业银行自身原因

（1）个人理财服务没有得到足够的关注，市场定位模糊。虽然城市商业银行已经决定了其市场定位为“服务地方经济，中小型企业和城镇居民的存在”，但也是因为它的存在，现有体系和范围的概念和政策，相当数量的城市商业银行并没有反映与其真正的操作特点相适应这个市场定位在运转。其市场导向模糊，它没有被给予足够的重视，包括个人理财服务，缺乏紧迫性和主动性的服务。

（2）还没有真正建立以客户为中心的服务理念，缺乏市场细分。目前，大多数城市商业银行仍然存在着传统的经营理念以“金融中心”或“产品”为中心，重点企业而忽视了客户的需求和价值。这样的金融服务市场细分对个人不利，区分的高、中、低端客户也不是很清楚，客户结构不合理，客户管理就更加重要。所以他们没有找到份个长期，稳定，成熟的客户基础，因此针对性和分化的产品服务是难得的

（3）产品品种单一，营销能力不足。由于得到从更多的支持，政府的说法是,城市商业银行舒适生活了很长时间。这使得产品的品种主要集中在存款和贷款,产品品种单一，对于大多数缺乏特色的城市商业银行，只有相对较低的科学技术水平和低质量的员工，城市商业银行没有明确的产品定位及发展战略产品创新能力。再加上金融市场不足和客户分割，银行无法启动有针对性的，有效的市场，从而市场竞争能力不足。

（4）缺乏技术和人才支持。 随着业务的不断发展，城市商业银行业务系统已经重建了，但整体业务支持系统没有完全建立起来。特别是，技术支持服

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