From Shanghai Security News via Soho.com, translated by CDT:
Zhou Xiaochuan, China’s central bank governor, said today “it won’t be too long before the Agricultural Bank of China is reformed.” Zhou said this in Singapore at an annual meeting of the International Monetary Fund.
The bank’s business plan and reform process have been basically decided, but it’s still not sure who will pay for the reorganization.
Among the big four banks, the other three have already been reorganized and are listed or are due to be listed in Hong Kong and mainland China. Agricultural Bank, historically the bank with the heaviest burden, is eager to follow the same process.[Full Text]
