Bank of China Moves Faster Than Expected: Bank Chief Executive

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Last updated at: (Beijing Time) Thursday, April 25, 2002

Bank of China Moves Faster Than Expected: Bank Chief Executive

The Bank of China (Hong Kong) Limited has seen faster conglomeration of business than previously estimated, said Liu Jinbao, chief executive of the bank Wednesday in Hong Kong.

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The Bank of China (Hong Kong) Limited has seen faster conglomeration of business than previously estimated, said Liu Jinbao, chief executive of the bank Wednesday in Hong Kong.

"It will take around a year, instead of three years as previously expected, to achieve the coordination between corporate banking and retail banking," Liu said at the bank's "y not" credit card launch ceremony.

He said he believed that the bank's economic benefit, operation cost and management of assets will develop toward the positive direction over the coming three years.

Liu said that the bank has put off the time of announcing results from the end of April to June as its new auditor PricewaterhouseCoopers is reviewing the reports audited previously by Anderson, which was involved in the U.S. Enron scandal, from 1999 to 2001.

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