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Commercial City Banks to Serve Urban Residents
Reform of joint-stock commercial banks should be furthered in their reform in the following five aspects, said Dai Xianglong, president of the People's Bank of China at the symposium held recently on the reform and development of joint-stock commercial banks:
First, to make a breakthrough in ameliorating the administrative structure. To effectively solve the problems in increasing the amount of capital, separating ownership with managerial authority, clarifying the functions of the conference of shareholders, board of directors, and board of supervisors and regulating the management systems.
Secondly, to tap for special business features of joint-stock commercial banks. Commercial banks in cities should be developed to serve urban residents.
Thirdly, to strengthen internal management, improve the quality of capital and ward off risks. Seek after new methods to handling bad assets.
Fourthly, to intensify the cooperation for a joint resistance to risks. For instance, cooperation and agency services between different regions and some businesses should be emphasized in normal market competition with no administrative intervention.
And fifthly, to give prominence to talents training.
As reported, up to the end of 2000, China had already set up 110 joint-stock commercial banks of various types with the gross assets reaching 2.56 trillion yuan and profits realized hitting 11.8 billion yuan in that year.
By PD Online Staff Member Du Minghua
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