As the Mainland banking sector becoming increasingly open and competition becomes fierce, commercial banks need to develop the private wealth management aspects of their business in order to benefit from the booming economy and national wealth.  However, in order to do so,  banks will have to overcome several hinderances, including a lack of variety in wealth management products, shortages of professionals skilled in wealth management, and an unsatisfactory information system.

Restrained as it is by such factors, private wealth management remains a product-oriented business, working towards driving sales rather than catering to clients' needs. Foreign-funded banks mainly expand and consolidate their existing business from mere saving deposit services to have it include simple consulting services. Expanding wealth management products and services, after all, is considered to be part of the strategy to create more quality sales practices.

Drawing upon the examples provided by more experienced operators of private wealth management businesses, Chinese regulatory and financial banking institutions should reposition themselves in order to meet the demands of financial consumers.  In order to develop products and services that cater to client interests and needs, Mainland banks should diversify their range of products and services, and optimize risk management.