| Opening up of Banking Sector Initially Achieves Expected Effect |
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| Wednesday,June 03,2009 Posted: 19:53 BJT(53 GMT) |
| From:xinhua Article type:Reproduced |
According to the 2008 annual report of China Banking Regulatory Commission released on June 1, the implementation of banking sector’s opening-up policy further promotes the reform and development of the banking industry, which initially achieves the expected effect.
In September, 2007, China Banking Regulatory Commission set up the assessment working group and started the evaluation on effect of opening-up policy of China’s banking sector, and they completed the assessment by the end of 2008. The evaluation report on effect of opening-up policy of China’s banking sector shows that the banking institutions increase the capital strength, improve the shares structure, promote its internal transform in corporate governance, business philosophy, risk management and internal control through equity cooperation with investors of foreign institutions.
China Banking Regulatory Commission said that as the banking supervision department, through the promotion of system reform, the CBRC always enhance the strategic height and efficiency of opening up of banking industry, and strengthen the coordination of banking industry and economic development, on the promise that insist the security of national economy and the control of risk in banking sector; achieve the fast and good economic development through enhancing the supervision capacity and effectiveness within industry.
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