Private banking opportunities draw increased foreign interest

More foreign financial organizations are eyeing opportunities in China's burgeoning private banking market, taking different approaches to tap into a unique and fast-evolving customer base.

LGT Group, a European private bank that also manages assets for Lichtenstein's royal family, is exploring the market's potential. One marketing technique it's using is to bring the royal family's art collection to Beijing and Shanghai, two of the richest cities in the country.

"The art exhibitions contribute to cultural exchanges between China and Lichtenstein. It's even better if they contribute to the business relationship between the two countries," said Prince Max of Liechtenstein, who is also the group's president.