On Friday, China Merchants Bank (CMB) joined hands with Mercer Co Ltd, a leading global consulting firm, to push forward an integrated compensation and benefits service system, according to the companies' top management.

"Living in a period of strategic opportunities, we offer our enterprise clients an innovative system to integrate compensation and benefits services," said Liu Jianjun, vice-president of CMB.

The financial service system will aim to abate problems from corporate human resource management and promote the allocation of labor forces in the market, according to Liu.

In the future, CMB positions itself as a bank that centers on customers, integrating technology and business to create the best customer experiences. Through an integrated compensation and benefits service system, the company will be able to meet enterprises' financial demands from all aspects and offer more comprehensive services for its clients, said Liu.

"The new service will help domestic enterprises have a better understanding of the current status of the labor market in China and a deeper knowledge of the constitution of labor capital management, so that they could proactively make reasonable plans for staff members' compensation and benefit issues," said Li Eyu, vice-president of Mercer in China.

Fan Hang contributed to this story