FOREIGN BANKS WOULD OCCUPY 10% OF CHINESE MARKET SHARE

AsiaInfo Services, May, 2002

AsiaInfo Services 05-17-2002 Foreign Banks Would Occupy 10% of Chinese Market Share CHINA, May 17, 2002 (AsiaPort via COMTEX) -- After China entering WTO, Chinese banking industry which was well protected before would face the challenge from foreign banks. The experts forecasted that in the following 10-15 years, foreign banks would occupy 30% of Chinese domestic financial market. Currently, foreign banks only occupied 2% of Chinese financial market, after China entering WTO, foreign banks would obtainedsame treatment with Chinese banks five years later, till then,the business of foreign banks in China would gain greatdevelopment.

Chinese financial industry under the protectionof Chinese government was very fragile, which would be impactedfirstly after China's...

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