China is unlikely to live up to WTO commitments on banking, experts said in Washington. Upon joining the WTO in 2001, China committed to provide a uniform environment for all banks within five years, the Hong Kong Standard reported. "However, it is unlikely that the Chinese government will immediately remove all hurdles to create a level play field," said Vickie Tillman, executive vice president at Standard and Poor's credit market services while testifying in front of a US Congress panel on China's financial system. Foreign banks still face a number of restrictions that do not apply to domestic banks including long licensing procedures, more stringent capital requirements for branch operations, limited participation in local banks and foreign debt quotas.
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