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Conference on Asian Finance Opens in HK
The Regional Conference on Finance entitled Asia's New Financial Landscape & Opportunities opened Thursday to address how new paradigms, structures and technology will shape the regional financial landscape.
Among some 200 participants of the two-day event are representatives of the Bank for International Settlements, the Asian Development Bank and Merrill Lynch as well as senior officials from the Chinese mainland.
Xu Bin, head of a Chinese commercial bank, said that one of the goals of China's financial reform is to make the commercial banks operate on purely commercial basis.
"To achieve the goal, Chinese commercial banks will carry out macro-adjustment policies of the central bank, take the role of major players in the financial market and play an integrated part in the enterprise restructuring," said Xu, vice chairman and president of China Everbright Bank.
He said that the reform of commercial banks of China will involve public listing of the banks, improvement of governance structure, increase of merger and acquisition among banks and improvement of management skill.
Zhang Junkuo, director of China's Institute of Market Economy Research Development Center of the State Council, said at the meeting that China's entry into the World Trade Organization will strengthen the ties between the finance of China and the rest of the world which will help promote the financial reform of China.
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