Financial service refers to the activities that financial institutions use currency transactions to finance valuable commodities and provide common interests and satisfaction for financial participants and customers. According to the contents of the annex of the World Trade Organization, the providers of financial services include the following types of institutions: insurance and related services, as well as all banks and other financial services (except insurance).

In a broad sense, financial service means that the whole financial industry plays its multiple functions of promoting economic and social development. Specifically, financial services refer to various services provided by financial institutions to customers through business activities, including financing and investment, savings, credit, settlement, securities trading, commercial insurance, financial information consultation and so on.

Strengthening the awareness of financial services and improving the level of financial services are of great significance for accelerating the construction of China's modern financial system, improving the management level of financial institutions, enhancing the competitiveness of the financial industry and better promoting economic and social development.

Extended data:

Main characteristics of financial services

1, less investment.

In the case of less physical capital investment in financial services, it is difficult to find a suitable physical unit to measure the quantity of financial services, so that it is impossible to accurately define its price and then compile accurate price index and quantity index, so it is difficult to determine and measure the output of financial services.

2. Financing intermediary

The function of traditional financial services is the intermediary of financing, while more and more functions of modern financial services are related to the production, transmission and use of information, especially because economic activities are increasingly "financialized", so financial information is increasingly becoming one of the important resources of economic activities.

3, labor intensive

Traditionally, financial services are labor-intensive industries, but with the increasing complexity and informatization of financial activities, financial services have gradually become knowledge-intensive and human capital-intensive industries.

4. Liberalization

In today's era of intensified domestic and international competition, financial services are undergoing tremendous changes. The influence of information technology, deregulation and liberalization has changed forever, and the field of financial services is constantly being reshaped, and this trend will continue.

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