More regulation, please: bank reform in China

Wang Xue-bing, ChinaƆs eminent banker, outlines what it will take.
If any one person is the face of everything that is possible for Chinas state-owned commercial banks, it is Wang Xue-bing, the former president and chairman of Bank of China and since early 2000 the president and CEO of China Construction Bank, as well as chairman of its joint venture with Morgan Stanley, investment bank China International Capital Corp.

Yesterday Tuesday, at a talk in Hong Kong sponsored by the Asia Society, Wang gave an intelligent, clear and humour-tinged vision of the enormous reforms needed to make Chinese state banks competitive in a post-World Trade Organization environment. Given that the top four state commercial banks account for 70% of financial resources in...

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