摘要
China became a member of the World Trade Organization (WTO) in November, 2001.During the three years since then, foreign banks substantially increased their presence inChina. Competition between foreign and domestic banks in certain fields is increasinglyvisible. However, the pace of foreign bank expansion in China appears short of earlierexpectations. Chinese banks have in general responded positively and achieved certainprogress in improving their service, yet basic problems remain unsolved in the bankingsystem. Several challenges to Chinas financial system have already surfaced.
China became a member of the World Trade Organization (WTO) in November, 2001.During the three years since then, foreign banks substantially increased their presence inChina. Competition between foreign and domestic banks in certain fields is increasinglyvisible. However, the pace of foreign bank expansion in China appears short of earlierexpectations. Chinese banks have in general responded positively and achieved certainprogress in improving their service, yet basic problems remain unsolved in the bankingsystem. Several challenges to Chinas financial system have already surfaced.
