China's first "women's bank" which opened recently in Shenzhen, a southern China port city, has set a good precedent for commercial banks as well as other service providers in tailoring their services to fit increasingly diverse social needs, China Daily yesterday quoted some experts as saying.

The paper's Business Weekly reported that the launch of the first bank that provides financial services particularly designed for female customers broke new ground for Chinese women in facing the tough transition from a planned economy to a market economy.

The women's bank was unveiled last Wednesday by China Construction Bank, one of China's four largest State commercial banks. It offers career women with specialized financial service packages.

"No matter whether it succeeds, it is an innovative effort in the right direction," said Wu Zhaohua, a researcher of economic and female issues from the Party committee of southwest China's Sichuan Province. "And that is enough."

She said that the new bank recognized the growing consumer group because more and more women are calling for support to deal with pressures. A "women's bank" could do more to help women operate their businesses and handle financial issues.

Zhou Jing, deputy director of the women's research center at the Beijing Academy of Social Sciences, echoed Wu, saying that it suggests women have played an important role in family and social life in China and that their situation is improving.

Observers also notice that concerns over difficulties that may arise from China's entry to the World Trade Organization give Chinese commercial banks a strong reason to improve services. (China Daily)