What are the characteristics of financial services?

As far as the financial service industry is concerned, compared with other industrial sectors, the financial service industry also has some remarkable characteristics, such as:

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.

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.

Labor-intensive

Traditionally, financial services are labor-intensive industries. With the increasing complexity and informatization of financial activities, financial services have gradually become knowledge-intensive and human capital-intensive industries. The density of human capital and the amount of information resources have become important factors that determine the ability of financial enterprises to create value and the survival and development prospects of financial enterprises in modern financial services.

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.