我国商业银行中低收入阶层理财市场研究

发布时间：2018-07-05 20:08

本文选题：现状 + 原因　；参考：《西南财经大学》2013年硕士论文

【摘要】：我国商业银行理财市场现存的一个突出问题是,几乎所有的银行理财业务定位在高端客户,重点发展高端理财市场。这是由高端客户的价值决定的,“二八规则”指出商业银行大约80%的收益是来自银行20%的高端客户。正是这一原因,银行竞相抢夺高端客户群,推出针对高端客户的高品质、全方位的综合理财服务,争夺市场份额。高端理财业务对商业银行来讲有其重要意义：扩展了银行的理财业务,提升了商业银行的盈利能力,有利于提高商业银行的核心竞争力。同时对于富裕人群而言,商业银行高端理财业务为其提供了一个财富保值增值的理财方式以及多元化的理财服务。但是高端理财的准入门槛较高,使部分有理财需求并且愿意理财的中低收入人群望而却步。虽然,商业银行重视高端客户理财业务是有一定的道理的,但是,我国商业银行也不能忽视中低收入阶层理财市场。在现今理财市场上,商业银行发售的理财产品大多是高端理财产品,专为高端客户设计的,如招商银行的“金葵花”理财套餐。理财市场上针对中低收入阶层提供的理财产品和服务非常少,商业银行认为中低收入阶层理财需求小,收入水平低,理财意识淡薄,在开展该阶层理财业务时操作复杂、成本高、可获得利润少。但是这只是以前的情况,现在的中低收入阶层理财市场是很有发展潜力的。首先,随着经济的发展,中低收入阶层收入水平提高,可支配的资产增加,为了应对现今社会住房、医疗、教育等压力,该阶层的理财需求明显增加；其次,收入的增加和受教育程度的提高,使得该阶层的理财观念逐渐发生了变化,理财观念新潮,理财意识强,使其理财需求增加；最后高端理财市场竞争非常激烈,外资银行、信托、基金、第三方理财机构纷纷开展高端理财业务,争夺高端客户,抢夺市场份额。高端理财带来的利润被瓜分,商业银行所得收益因为竞争的激烈而在逐渐减少。所以,综上分析可得,我国商业银行很有必要发展中低收入阶层理财业务。近年来,我国商业银行的个人理财业务发展迅速,但是尚处于初级发展阶段,为此,我国的学术界和实务界对个人理财业务进行了很多的研究,从这些研究文献中看出：1.从理论的角度研究个人理财的学者,他们一般的研究思路是分析整个理财产品市场的现状,主要从发展现状、存在问题、发展潜力、解决措施等宏观的角度进行分析,而从理财产品的供给与需求双方具体的分析较少；2.在进行理财产品具体的分析时,一般选择所有收入群体或者中高端收入群体进行分析研究,而对中低收入阶层的个人理财需求分析较少。实践表明,缺乏对客户理财需求的研究,不能在市场细分基础上为理财客户提供个性化、差异化的理财产品和服务是银行发展理财业务的主要问题。因此,本文在借鉴和总结前人研究个人理财的基础上,根据市场细分理论,针对中低收入阶层的理财需求进行研究,并提出商业银行发展该阶层个人理财业务的建议。从论文的框架来看,主要分为五部分。第一部分是对论文的研究背景和意义做了简单介绍分析,以及论文内容和研究方法,并指出论文的创新点和不足之处。第二部分是个人理财的相关理论和文献综述；个人理财相关理论只介绍了市场细分理论和生命周期理论,这两个理论在个人理财中的应用非常重要和普遍。其次,从理论和定量两个方面对学者的个人理财相关研究总结概括,形成文献综述。第三部分是对我国银行理财的市场现状和原因进行了分析。首先,银行理财产品市场上呈现五个方面的特点：1.理财产品数量和规模爆发式增长；2.理财产品的短期化趋势明显,理财产品的期限分为1个月以内、1-3个月、3-6个月、6个月至1年不等；3.理财产品主要定位高端客户,理财准入门槛较高,商业银行设计和推出的理财产品和服务大多数是为高端客户提供的；4.理财产品的创新能力弱,理财产品同质化严重；5.低收入阶层的理财产品匮乏,商业银行忽视中低收入阶层个人理财,其理财产品和服务供给不足,特别是满足其家庭理财需求的理财产品和服务明显匮乏。对导致理财市场现状产生的原因进行分析。1.高端理财利润非常可观,高端理财市场能给商业银行带来巨大的收益,所以很多商业银行把个人理财定位在高端客户；2.中低收入阶层理财观念存在误区,使得中低收入者阶层个人理财需求不明显,商业银行银行也因此原因忽视该阶层个人理财业务,主要表现在：理财意识的淡薄、投资渠道单一和投资决策保守、认为理财就是投资的错误认识；3.监管当局对银行理财产品的限制,表现在对银行理财产品超短期限的限制、投资者理财准入门槛的规定。论文第四部分主要是我国商业银行重视中低收入阶层理财市场必要性分析。主要从两个方面来分析说明：首先是从我国中低收入阶层理财需求潜力较大；该方面的内容又分为以下：1.中低收入阶层生活压力带来的理财需求。住房、医疗、教育、退休、失业等社会问题是该阶层面临的压力,为了保障生活提高生活质量,其个人理财需求便产生了。另外,负的实际利率、逐年攀升的CPI和通货膨胀率都对中低收入阶层生活产生直接影响,特别是日常消费支出,该阶层需要个人理财活动来抵消其损失；2.经济整体水平变动带来的个人理财需求增加,主要从总体收入水平变动、收入结构变动、消费变动、金融资产持有量增加四个方面分析；3.中低收入阶层理财观念的改变导致中低收入阶层金融理财服务需求在层次上和内容上发生变化；其次,理财市场激烈竞争要求商业银行重视中等收入阶层理财市场,从理财产品的发行主体竞争和高端客户理财市场竞争两个角度分析中低收入阶层理财产品的供给,间接指出商业银行发展中低收入阶层理财市场的必要性。第五部分是发展我国中低收入阶层理财市场的政策建议。提出了五个方面的政策建议,分别是：1.激发中低收入阶层个人理财需求,使其潜在需求转化为现实的理财需求：从三个方面,通过广告宣传等媒体方法强化个人理财的必要性、对中低收入阶层传递新的价值标准和理财意识、使中低收入阶层参与到理财产品的营销活动中,体验理财产品营销过程；2.合理细分市场,提供分层次的理财服务：分为两个方面,细分市场和细分客户。商业银行应该根据自己的实际情况和国内的市场现状,依据不同的标准,准确的进行理财市场定位；开展个人理财业务必须要对理财客户群体进行有效的细分,确定目标客户,并为其提供个性化、差别化、分层次的服务；3.加大专业理财人员的培养。首先健全客户经理制度,提高其专业素质,另外还要谨防理财从业人员的道德风险。4.中低收入阶层个人理财客户数量庞大、分布广泛,想要全面的了解和掌握该阶层理财客户的信息资料,必须要有强大的计算机技术和网络技术的支持,才能完成“海量”数据的搜集、加工、分析和存储。所以商业银行要在现有的技术支持条件上逐渐完善,如完善网络信息基础建设、加快金融电子化系统的集成、建立和完善商业银行内部数据信息管理系统。5.调低理财准入门槛,这个需要监管当局和商业银行双方共同调整。本文最终的目的是通过对中低收入阶层理财市场的研究,达到这样一个效果：使商业银行认识到忽视该阶层理财市场是不合理的,中低收入阶层个人理财需求大,理财市场有很好的发展潜力,是可以为商业银行带来收益的。商业银行应该大力发展该阶层理财市场,为中低收入阶层提供适合的理财产品和理财服务规划,使中低收入阶层个人理财市场蓬勃、健康发展。对商业银行开展个人理财业务实践具有一定的指导意义。但是本文也存在不足,没有很好的理论基础,对银行理财现状和原因的分析方面也存在缺陷。
[Abstract]:One of the outstanding issues in China ' s commercial bank financing market is that almost all bank financing businesses are located in high - end customers , focusing on the development of high - end finance markets . This is due to the value of high - end customers , which points out that about 80 % of the proceeds from commercial banks are high - end customers from banks . It is this reason that the high - end financing business of commercial banks is beneficial to improving the core competitiveness of commercial banks .

Although commercial banks attach importance to high - end customer financing business , China ' s commercial banks cannot ignore the middle - and low - income financial market . In the current financial market , the financial products offered by commercial banks are mostly high - end financial products , which are designed for high - end customers , such as the " Jinsunflower " financial package of China Merchants Bank .
Secondly , the increase of income and the improvement of educational level have made the wealth management idea of the stratum gradually changed , the idea of financial management is new , the financial management consciousness is strong , make its financing demand increase ;
At last , high - end finance market competition is very competitive , foreign banks , trusts , funds and third - party financing institutions have carried out high - end financing business , competing for high - end customers and seizing market share . The profits brought by high - end finance are divided , and the income of commercial banks is gradually reduced because of the fierce competition . Therefore , it is necessary for commercial banks in China to develop middle - and low - income class financing businesses .

In recent years , China ' s commercial bank ' s personal finance business has developed rapidly , but it is still in the stage of primary development .
2 . When carrying out the specific analysis of wealth management products , the analysis and research of all income groups or middle and high - end income groups are generally selected , and the analysis of personal financial needs of middle - and low - income groups is less . The practice shows that the lack of research on the needs of clients can not provide personalized and differentiated financial products and services for financial customers on the basis of market subdivision . Therefore , the paper studies the financial needs of middle - and low - income groups based on market subdivision theory , and puts forward the proposal of commercial banks to develop their personal financial services .

From the framework of the thesis , it is divided into five parts . The first part introduces the research background and significance of the thesis , and points out the innovation points and shortcomings of the thesis . The second part is the related theory and literature review of personal finance .
The theory of personal finance management only introduces market subdivision theory and life cycle theory , the application of these two theories in personal finance is very important and universal . Secondly , from both theory and quantitative aspects to the scholars ' personal finance related research summary , the literature review is formed .

The third part analyzes the current situation and causes of the bank financing in our country . First , five aspects are presented in the market of the bank ' s financial products : 1 . The quantity and scale of the financial products increase ;
2 . The short - term trend of wealth management products is obvious , the duration of financial products is within 1 month , 1 - 3 months , 3 - 6 months , 6 months to 1 year , etc . ;
3 . Financial products mainly locate high - end customers , the access threshold of financial management is high , and the financial products and services designed and introduced by commercial banks are mostly provided for high - end customers ;
4 . The innovation ability of wealth management products is weak , and the homogenization of financial products is serious ;
5 . The shortage of wealth management products of low - income stratum , commercial banks neglect the personal finance of middle - and low - income stratum , the shortage of financial products and services , especially the financial products and services that meet the needs of their families .
2 . In the middle and low income stratum financial concept , there is a misunderstanding , so that the personal financing needs of the middle and low income earners are not obvious , and the bank of the commercial bank also ignores the individual financing business of the stratum . The main performance is : the light and thin investment channel and the investment decision are conservative , and it is considered that the financial management is the wrong understanding of investment ;
3 . The restriction of the supervisory authority on the financial products of the bank is manifested in the limitation of the ultra - short term of the bank ' s financial products and the provision of the threshold for the access threshold of the investors .

The fourth part of this paper is mainly about the analysis of the necessity of Chinese commercial banks to pay attention to the financial market of middle - and low - income stratum .
The social problems such as housing , medical care , education , retirement , unemployment and other social problems are the pressures faced by the stratum . In order to guarantee the quality of life and improve the quality of life , the demand for personal financing has been generated . In addition , the negative real interest rate , the CPI and the inflation rate of the year - by - year rise all have a direct impact on the life of middle - and low - income stratum , especially daily consumption expenditure , which needs personal financial activities to offset their losses ;
2 . The demand of personal finance brought by the change of the overall level of economy increased mainly from the general income level fluctuation , the change of income structure , the consumption change and the increase of the holding quantity of the financial assets ;
3 . The change of financial management concept of middle - and low - income stratum has led to the change of financial management service demand of middle - and low - income stratum on the level and content ;
Second , the fierce competition in the financial market demands that the commercial banks pay attention to the middle - income class financing market , analyze the supply of the middle - and low - income stratum financial products from the competition of the issuing subject of the financial products and the market competition of the high - end customers , and indirectly point out the necessity of the commercial banks to develop the middle - and low - income stratum financial markets .

The fifth part is the policy suggestion of developing the financial market of middle and low income stratum in our country . It puts forward five policy suggestions : 1 . To stimulate the personal financial needs of middle and low income stratum , to transform the potential demand into the real financing requirement : from three aspects , through the media method such as advertising propaganda , to strengthen the necessity of personal finance , to transfer the new value standard and financial consciousness to middle and low income stratum , to make middle and low income stratum to participate in the marketing activities of financial products , to experience the marketing process of financial products ;
2 . A reasonable subdivision of the market provides a sub - level of financial services : dividing the market into two aspects , dividing the market and dividing the customer . The commercial banks should accurately conduct the financial market positioning according to the actual situation and the domestic market situation , according to different standards ;
To carry out personal financing business , it is necessary to subdivide the financial client group effectively , determine the target customer , and provide them with personalized , differentiated and hierarchical service ;
3 . We should strengthen the training of professional financial management personnel . First , improve the client manager system , improve the professional quality , and also have the moral hazard of preventing the financial professionals . 4 . It is necessary to have strong computer technology and network technology support in order to complete the collection , processing , analysis and storage of the wealth data . Therefore , the commercial banks must have strong computer technology and network technology support to complete the collection , processing , analysis and storage of the data .

The final aim of this paper is to achieve the result by studying the financing market of middle - and low - income stratum : making commercial bank realize that it is unreasonable to ignore the financial market of middle - and low - income stratum , and has great development potential for the commercial banks . The commercial banks should energetically develop the wealth management market of the middle - and low - income stratum , and provide appropriate financial and financial services for middle - and low - income stratum .
【学位授予单位】：西南财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.2

【参考文献】