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China's Banking Industry to Be Better Developed: Experts
China's banking industry should undergo further reform to increase profits, experts said at a seminar which opened Tuesday in east China port municipality Shanghai.
The two-day seminar, jointly held by the Shanghai Banking Association and the Singapore-based magazine "Asian Banker," is focusing on the prospects of China's banking industry.
The participating banking and insurance experts said that China's entry into the World Trade Organization will greatly change the overall environment for the banking industry. The operation guidelines of Chinese commercial banks will become increasingly unfavorable for the development of the banks.
Chinese commercial banks should attach greater importance to attracting more customers for more savings deposits and developing new banking services other than the balance of loans, experts said.
Emmanuel Daniel, editor-in-chief of the magazine Asian Banker, said that at present China's banking industry is too dependent on the traditional service of issuing loans and is technically disadvantaged compared to its foreign counterparts.
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