Loading...
Please wait, while we are loading the content...
Similar Documents
Development of China’s banking industry and new direction
| Content Provider | Scilit |
|---|---|
| Author | Lai, Kin Keung |
| Copyright Year | 2014 |
| Description | Book Name: China's Financial Markets |
| Abstract | China's banking industry has experienced rapid growth in recent years in terms of both profitability and outstanding credit. The government also passed the Commercial Banking Law which recognized banks as profit-seeking institutions and paved the way for market-oriented operations in the banking industry. Additionally, the Chinese government took a step towards reforming the banking sector by opening it up to foreign strategic investment, hoping to attract the much-needed banking experience as well as capital. The development of the Chinese banking sector led to the emergence of large, state-owned players that dominate the industry today: Bank of China, China Construction Bank, Agricultural Bank of China, and Industrial and Commercial Bank of China, called the 'Big Four'. Joint-stock commercial banks (JSCBs) are the second largest category of banks, after the Big Four. The main impediment to rapid growth is their still local focus and the disadvantages they face in terms of branch networks compared to the Big Four.China's banking industry has experienced rapid growth in recent years in terms of both profitability and outstanding credit. The government also passed the Commercial Banking Law which recognized banks as profit-seeking institutions and paved the way for market-oriented operations in the banking industry. Additionally, the Chinese government took a step towards reforming the banking sector by opening it up to foreign strategic investment, hoping to attract the much-needed banking experience as well as capital. The development of the Chinese banking sector led to the emergence of large, state-owned players that dominate the industry today: Bank of China, China Construction Bank, Agricultural Bank of China, and Industrial and Commercial Bank of China, called the 'Big Four'. Joint-stock commercial banks (JSCBs) are the second largest category of banks, after the Big Four. The main impediment to rapid growth is their still local focus and the disadvantages they face in terms of branch networks compared to the Big Four. |
| Related Links | https://content.taylorfrancis.com/books/download?dac=C2012-1-12945-7&isbn=9781315778921&format=googlePreviewPdf |
| DOI | 10.4324/9781315778921-1 |
| Language | English |
| Publisher | Informa UK Limited |
| Publisher Date | 2014-05-16 |
| Access Restriction | Open |
| Subject Keyword | Book Name: China's Financial Markets Area Studies Commercial Banking Banking Industry Chinese Government Industry Today State Owned Bank of China Construction Bank Stock Commercial Needed Banking |
| Content Type | Text |
| Resource Type | Chapter |
