The reform in the banking sector, of course, involves more issues than state-owned commercial banks reform, says He Weiwen, Deputy Secretary General, China Reform and Development Forum Committee, Former Economic and Commercial Counselor, Chinese Consulate General in San Francisco and New York, US.
Banking sector reform will be a top priority on the agenda of the Chinese Government in 2004. The Third Plenary Session of the 16th Central Committee of Chinese Communist Party, held in September 2003, already gave a clear-cut goal for the state-owned commercial banks: The qualified banks could be restructured to shareholding banks, with the state keeping the majority; the qualified banks could go public, based on market forces.
The reform in the banking sector, of course, involves more issues than state-owned commercial banks reform. The latter, however, is the key to the whole reform.
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