Foreign banks currently account for less than 2% of the Chinese banking industry, but thanks to the country's vast retail market, growing asset management industry and M&A-hungry corporates, many global banks are positioning themselves to take a bigger share of the spoils.
Latest articles from China
The Chinese government is promising far-reaching economic reforms, but these are likely to put the financial sector under strain. Former chairman of the China Bank Regulatory Commission Liu Mingkang tells Philip Alexander how the authorities can manage the transition.
China's leading e-commerce companies are using their wealth of consumer knowledge to tap into the country's state-dominated banking market, introducing innovative new products that threaten to overshadow the more conventional offerings of local banks.
As the much discussed tapering of quantitative easing in the US becomes a reality, Jane Cooper finds this topic is weighing on the minds of Asia’s financial leaders, along with the increasing role of the renminbi.
The days of double-digit growth in China may be over, but the rest of the world has little reason to fear, says Jim O’Neill.
With the US and European crises behind them, South American trade figures are back on an upward slope. Local banks are paving the way for improved relations with China, and Chinese banks are increasing their presence in the region. Even the proximity of the US could have its benefits.
The UK and the US are taking very different regulatory stances, the former reverting to its characteristic light touch while the latter is taking a heavy-handed approach, but both regimes are driven by political considerations rather than market needs and are therefore at risk of damaging their respective banking systems.
The renminbi's slow move towards becoming a global currency has gathered momentum in the past 12 months, and with China's new premier signalling his intention to smoothen this process even further, the currency appears destined to achieve reserve status in the not-too-distant future.
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