China Economic ReviewChinese banks are not ready for the competition they will face from foreign banks that will come after China’s accession to the World Trade Organisation, said Liu Mingkang, chairman of the Bank of China. China’s banks still face severe problems in their standards of governance and risk management and their levels of governance, profits and […]
China’s second largest brokerage, Guotai Junan Securities, plans to set up a joint venture fund management company with German insurer Allianz, South China Morning Post said. The two sides have signed a memorandum of understanding to set up a working party to study the issue. Guotai Junan would also sign an agreement to transfer to […]
Laura Cha, vice chairwoman of the China Securities Regulatory Commission, revealed that China’s domestic share market will be opened to foreign investors by allowing them to buy into funds investing in A-shares after China becomes a member of the World Trade Organisation. Market regulators have said that they would allow foreigners restricted access to the […]
China's regulators have agreed to let the Hong Kong-based Bank of China International (BOCI) go ahead with preparatory work for setting up a joint venture securities firm in China. BOCI is the investment banking arm of the state-owned Bank of China. However, as a Hong Kong-listed firm it is seen on the mainland as an […]