China Banks Oppose Party Interference – Saibal Dasgupta

From the Times of India:

Chinese banks including the central bank have begun to express themselves against political inteference by the Communist Party officials in the normal banking acvities. A senior official of the People’s Bank of China has publicly called for reforms in the system of monitoring state-owned banks by agencies of the party and the government.

“The Communist Party should play its due role in improving corporate governance in banks,” Wu Xiaoling, deputy governor, told a large gathering of Chinese and foreign bankers at a recent conference jointly organised by the China Europe International Business School and Caijing magazine in Shanghai. [Full Text]

See also: Wu Xiaoling: Service-oriented banks rely on service-oriented government from Caijing.com.cn.

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