Chinese official: state-owned banks probe share-holding system
( 2003-10-14 21:37) (Xinhua)
Chinese state-owned banks are
investigating the possibility of establishing share-holding systems so as to
improve performance, said an official Tuesday.
At the first annual meeting of the US-China Business Dialogue, Zhang
Xiaoqiang, secretary-general of the National Development and Reform Commission,
said China would treat these banks as self- responsible companies and reform
them.
He believed Chinese banks, since China's entry to the World Trade
Organization, were developing healthily with competition and cooperation with
foreign counterparts.
Zhang said the interests of the banks had increased with the development of
China's market economy, but problems remained and there was a long way to go.
He said China would expand business areas, clients and geographic areas for
foreign banks which had entered the market. He hoped foreign banks could jointly
invest with Chinese banks or take shares in Chinese share-holding banks so as to
compete and develop together.
The US-China Business Dialogue was set up Tuesday by the Chinese Council for
the Promotion of International Trade and the US Chamber of Commerce. Annual
meetings will be held in China and the United States by turn.
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