Chinese funded the clients of banks that the financial assets are more than 8 million Yuan (1.17 million USD) or 10 million Yuan (1.46 million USD). According to conservative estimates, there are at least 500 thousand people whose financial assets are more than 1 million USD by the end of the first quarter of 2009 in China, the total financial assets of over 5 trillion USD.
To occupy more share of the private banking, banks in China include private banking key to their development in the flock. Now they set up private banking branches in major domestic cities, and then to open the high-income group market.
The fight to attract more private banking customers, banks together and foreign-funded banks are more popular. When customers choose a Chinese private banks, they are likely to select joint stock banks and foreign-funded banks. State-owned commercial banks, but is slightly lower because the quality of service and more.
At the end of 2008, China Merchants Bank had opened seven private banking centers in Shenzhen, Beijing, Shanghai, Tianjin and Harbin to customers arrive in 6398, up 36% from the year on year, and the extent of active management private banks are reaching customers that 129.9 billion yuan (18.56 billion dollars), up 34% from the year on year.
1 April 2009, Agricultural Bank of China announced that it will go to powering the strategic restructuring of retail banking and the integration of retail banking. Therefore, it will establish 5 private banks, 15 gold key focus of asset management and 500 gold key money management center. Furthermore, the Agricultural Bank of China were first set up a private bank branch in Shanghai and set up private banking divisions in the headquarters of banks and branches in Beijing, Shenzhen, Ningbo and Tianjin, etc., which are abundant high-end customers directly extending resources and maintenance of private banking customers. (more…)

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