With the gradual spread of financial services in Chinese mainland, minors have become a potential customer group for banks. However, existing policies, regulations and bank requirements place many restrictions on minors' use of bank cards and bank accounts, making it difficult to fully meet their financial needs. This study examines the restrictions on minors in opening, managing and using bank accounts based on relevant policy documents and bank requirements in Chinese mainland and regions outside Chinese mainland. The study analyses that aspects such as strict account opening requirements and limited account functions make minors' financial autonomy restricted. By way of comparison, the financial systems of regions such as Hong Kong SAR and Singapore simultaneously provide flexible and diversified banking services for minors. This paper builds on the authors' practical banking experience and public policy documents, and makes recommendations such as setting different account privileges according to age, clarifying the legal responsibilities of guardians, and enhancing financial literacy through cooperation between the government, banks and educational institutions. These recommendations aim to optimise policies to foster financial literacy among minors so that they can be better integrated into the modern financial system in the future, while contributing to social stability.

Chen Zhenhe. The Current Status and Influencing Factors of Minors' Personal Bank Account Usage in China. International Journal of Frontiers in Sociology (2024), Vol. 6, Issue 12: 36-43. https://doi.org/10.25236/IJFS.2024.061206.

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