When China begins listing its giant state-owned banks on capitalist stock exchanges, the world has definitely changed beyond all recognition. The story of China Construction Bank’s (CCB) route to the Hong Kong bourse is full of thrills and spills. Contributing editor Sophie Roell recounts the entire tale on page 76.

The distance China has travelled is illustrated by the experiences of CCB’s chairman Guo Shuqing. During the Cultural Revolution he herded cattle in the Gobi desert. Now he’s chairman of the 25th largest bank in the world in The Banker’s Top 1000 listing.

China’s transition from communist wasteland to leading manufacturing powerhouse was achieved in just two decades. Could North Korea follow suit, albeit on a smaller scale? The Banker’s editor-in-chief Stephen Timewell visited Pyongyang, accompanied by two official minders, and gives us his conclusions in “Small steps towards the real world” (p28). Also on China we have an interview with Liu Mingkang, chairman of China Banking Regulatory Commission (see p80), while this month’s Bracken column (p8) unravels the interesting parameters of Sino-Indian trade.

In Viewpoint, HSBC’s chairman Sir John Bond previews this month’s crucial WTO meeting in Hong Kong.

In Asia things change fast, in Europe they tend to move slowly. No-one is holding their breath while watching the slow but inevitable reform of Germany’s antiquated banking system. At current speeds, China could have more of its banking system in the private sector by the end of the decade than Germany. In this month’s cover story we profile the reformers and the conservatives in the latter’s battle for financial reform.

Not everything is moving slowly in Europe. Karina’s Kolumn is a profile of Easyjet founder Stelios Haji-Ioannou (p16), who shook up the continent’s staid airline industry.

In capital markets we report on the rise of hybrid capital for corporates, as well as new trends in FX trading. This month’s Agenda features Thomas Gahan, head of corporate and investment banking in the Americas for Deutsche Bank, while Team of the Month highlights JPMorgan’s innovative equity-linked deal for Frankfurt airport operator Fraport (p38).

In technology Dan Barnes looks at how exchanges and banks are coping with demands for faster processing (p114). There is also an interview with Ole Rossing, CIO of online investment bank Saxo, and a supplement on Transforming the IT Workforce.

Our country coverage has a focus on Russia, including our Top 50 Russian banks listing. There are interviews with Venezuela’s finance minister and Brazil’s central bank governor in addition to articles on Iran, Romania, South Africa, India, Syria and Montserrat.

Finally, our first ever Financial Centres of the Future awards identify locations with fast growth, good infrastructure and sound regulation.

PLEASE ENTER YOUR DETAILS TO WATCH THIS VIDEO

All fields are mandatory

The Banker is a service from the Financial Times. The Financial Times Ltd takes your privacy seriously.

Choose how you want us to contact you.

Invites and Offers from The Banker

Receive exclusive personalised event invitations, carefully curated offers and promotions from The Banker



For more information about how we use your data, please refer to our privacy and cookie policies.

Terms and conditions

Join our community

The Banker on Twitter