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Chinese satisfied with nation's banks: Poll

By Cecily Liu and Zhang Chunyan  (China Daily)

08:34, October 26, 2011

LONDON - Respect for banks in China remains high while the banking sector's reputation declines in the United States and the United Kingdom, a new survey has found.

The poll conducted by the Canadian research company GlobeScan found that 43 percent of 500 people surveyed in 18 Chinese cities in July had respect for their banks, compared with 18 percent in the US and 14 percent in the UK.

China's consistent economic growth has earned its banks this respect, Sam Mountford, research director of GlobeScan, said on Monday. "We know the Chinese economy is buoyant, whereas people in the US and UK have suffered over the last few years, and they're putting a lot of the blame on the actions of the banks."

New investments by Chinese banks - such as installing ATMs and establishing new offices throughout the country - have created jobs and better services and improved the sector's reputation.

"I think the Chinese people are conscious of the fact that banks have been the facilitators of the country's rapid development. Chinese families are getting rich quicker than their counterparts in the rest of the world," Mountford added.

The survey also showed that more Chinese believed that their banks fulfill social responsibilities better than other types of companies. Thirty-three percent of respondents rated banks and finance companies "among the very best" or "above average", compared with 14 percent of US and British respondents.

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