(24 April 2006 – China) The vice chairman of China Banking Regulatory Commission said he anticipates more Chinese banks listing on their domestic stock exchange as financial markets mature.Jiang Dingzhi said although some Chinese banks had looked for funds overseas, this was due to “circumstances” and “as China’s financial markets develop, more and more banks will raise funds at home”.
China Construction Bank, Bank of China and Industrial and Commercial Bank of China have all sold strategic stakes to foreign investors.
Jiang said the entry of foreign investors had played a big role in promoting China’s banking reform and their influence had already proved helpful to the domestic banks’ development.
He said local banks benefited from experience and advice on lending standards from foreign investors, not just the capital they invested.