LHASA - The China Construction Bank (CCB), one of the country's four leading commercial banks, opened its private banking service on Monday in Lhasa, the first in Tibet Autonomous Region, said authorities with the bank.

It is the bank's 38th private banking center in China, filling a gap for the service in Tibet and aiming to serve the region's burgeoning private financial needs, said Han Wenzhen, president of the Tibet branch of the CCB.

It will provide professional all-around financial services and other personalized products and services to high-end customers with personal assets under management (AUM) of over three million yuan (about $469,500), he said.

Tibet has seen a boom in demand for financial services, especially following the implementation of China's strategy for developing its western regions.

By the end of June, financial institutions in Tibet had received various kinds of monetary deposits, including domestic and foreign currencies, totaling 143.4 billion yuan, and their loan balance reached 33.5 billion yuan, according to statistics released by Tibet's banking regulatory bureau.

The CCB's private banking service in Lhasa will issue membership cards to customers, enabling them to receive personalized, professional services in banking outlets throughout China, said Han.

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