摘要
2006 will be the milestone year for Chinese bankins industry. At the end of the year. it win fully open to foreign players in line with the country＇s WTO commitment. Chinese banks and financial authorities have for some time now been engaged in preparation work in a bid to be well positioned to compete. In the process of financial reform, the restructure of the country＇s big four State-owned commercial banks is especially noticeable. The US$8 billion initial pubic offering （IPO） of China Construction Bank in Hong Kong, the world＇s largest IPO of the past four years, impressed the global financial industry in Octoher 2005. Meanwhile, the Bank of China （BOC）, another of the big four, is planning to list overseas this year. As president of Bank of China Co Ltd, Li Lihui, who took office in August 2004, is facing the challenge of restruc- Luring the bank into a competitive modern joint-stock commercial bank ready to operate on the world market.
