Heads of City Commercial Banks Gather in ShanghaiHeads of commercial banks in 110 Chinese cities gathered at China's financial center Thursday, to discuss plans for business cooperation and development.With "Union, Development, Reform and Innovation" as its theme, the 2nd development forum of city commercial banks aims to find a new way to unite China's city commercial banks, establish a city commercial bank union, and deepen bank reforms. Over 270 delegates from the People's Bank of China and city commercial banks came to the common understanding that China's banking industry should enter the international financial field after China enters the World Trade Organization (WTO). Cooperation among these city commercial banks will play an active role in China's financial reform as well as push forward cooperation between trans-regional financial organizations. Up to the end of 2000, China had 110 city commercial banks, over 4,000 business offices, and total assets of over 709.6 billion yuan (about 85.4 billion U.S.dollars). |
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