From People’s Daily Online:
China encourages its small and medium-sized banks to introduce strategic investors from overseas in order to learn from advanced management ideas and techniques to improve their core competitiveness, top banking regulator said in Jinan Saturday.
Addressing an annual national meeting on city commercial banks, Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC), said China has already made important progress in introducing strategic overseas investment.
To date, nine city commercial banks, including those in Shanghai, Nanjing, Xi’an, Jinan, Beijing, Hangzhou, Nanchong, Tianjin and Ningbo, have introduced strategic investment from overseas, according to the commission. [Full Text]