The concentration of private banks is going to be an outstanding characteristic of building wealth management financial reform zone of Qingdao. By the end of 2016, the 13 bank HQ set up private banks in Qingdao. Private banks manage as much as CNY 83.72 billion wealth, 1.7 times over that of the end of 2014.

    The China Merchants Bank is the 1st private bank set up in Qingdao in 2009, after the city was approved as the wealth management financial comprehensive reform trial zone, commercial banks set up private banks in Qingdao one by one. CBC, Jiaotong Bank, CCB, ABC, ICBC and Qingdao Bank, CIC Bank all set up private banks in Qingdao. The Minsheng Bank set up the 1st private bank wealth center of the bank in Qingdao. (Fu Jun)