Latest Developments in China＇s Banking Reform, Opening-up and Supervision

China Banking Regulatory Commission （CBRC） was authorized by law to regulate and supervise all the banking institutions in China and their business activities. CBRC plays an active role in China＇s banking reform. According to a press release by the State Council on December 5, under the leadership of the central government and the guidance of Deng Xiaoping Theory and the important thought of ＂Three Represents, ＂the CBRC continues to practise the scientific concept of development, deepen the banking reform, further the opening up and enhance banking supervision, so as to ensure a safe and sound development of China＇s banking sector.     

Latest Developments in China''s Banking Reform, Opening-up and Supervision

China Banking Regulatory Commission (CBRC) was authorized by law to regulate and supervise all the banking institutions in China and their business activities. CBRC plays an active role in China's banking reform. According to a press release by the State Council on December 5, under the leadership of the central government and the guidance of Deng Xiaoping Theory and the important thought of" Three Represents," the CBRC continues to practise the scientific concept of development, deepen the banking reform, further the opening up and enhance banking supervision, so as to ensure a safe and sound development of China's banking sector.     

REFORM in Progress

The World Bank （1997） once claimed that China＇s financial sector was the soft-belly in the economy. Financial sector reform has long been argued as neces- sary to raise efficiency in the use of the capital and in rebalancing the economy toward consumption-based growth, with- out which the country＇s growth sustain- ability is in jeopardy （see Lardy （1998）; Prasad （2007））. Indeed, not too long ago, China＇s state banks were deemed “techni-cally insolvent” and their survival hinged solely on the nation＇s abundant liquidity. However, after the launching of banking reform, strong profitability has returned to state commercial banks recently. The aim of this paper is not to evaluate the effect of banking reform on bank performance, which is better tackled after the completion of a full credit cycle. Rather, our aim is to take stock on the progress in reforming China＇s state banks by reviewing the banking reform strategy and analyzing their recent strong post-reform financial performance which, however, cannot be entirely separated from reform efforts undertaken thus far.     

Spirit of a Centurial Aged Man

Yuan Geng, who created the Shekou Mode, is a pioneer in 30 years＇ history of China opening to the foreign, and a practicer of the policy by Deng Xiaoping of ＂Shenzhen Special Zone should break a way for China＂. The success of Shekou Mode provided a vane to the rapid development of economic zones and development zones in China, and the ＂growing up＂ of China. Referring to Yuan Geng, some say he is a capitalist, some say he is pioneer, and some say he is a star of reform, and so on. To carve a real picture let＇s go near to him and share the valuable memories.     

Successful Implememtion of “Localization of Books and Pictorials” Strategy in China＇s International Communication

China sticks to the way of peace and development,its image of stability,strongness and responsibility as a big country has been recognized and concerned worldwide.And by what means are people of other countries timely informed of China‘s current situation of reform and opening-up, continuously soaring economy, process of building a harmonious and well-off society in an all-round way, tremendous changes of China and new look of the Chinese people?Recently, our staff reporters interviewed Mr. Cai Mingzhao, Vice Minister of the State Council Information Office and President of China International Publishing Group,     

Simple, High-efficient and Healthy——Developing road ofTsinghua Unisplendour Corporation Limited

Tsinghua Unisplendour Corporation Limited, which is the first group of high-tech enterprise emerged from the great tide of China‘s reform and opening-up in the 1980s, has become a well-known hi-tech brand through its 16 years‘ development. Relying on the good resources of Tsinghua University, by utilizing modernized enterprise management mode, Tsinghua Unisplendour has set up a good model for hi-tech enterprises.     

Simple,High-efficient-Developing road of Tsinghua Unisplendour Corporation Limited

Tsinghua Unisplendour Corporation Limited, which is the first group of high-tech enterprise emerged from the great tide of China‘s reform and opening-up in the 1980s, has become a well-known hi-tech brand through its 16 years‘ development. Relying on the good resources of Tsinghua University, by utilizing modemized enterprise management mode, Tsinghua Unisplendour has set up a good model for hi-tech enterprises.……     

Banking on Reform in the Rising China

About six years ago when China first entered the WTO and agreed to open up its retail banking market after a period of five years,many overseas me- dia organizations held a pessimistic outlook that China's banking industry was headed towards bankruptcy.However,through effective adjustment and reform, China has edged into the advanced ranks of the banking world through some huge developments in its banking system.     

On the Development of China's Land Oil Industry

Mr. Wang Tao, President of the China National Oil and Natural Gas Corporation, briefed this reporter on his thoughts on the development of China's land oil industry. From the present to the turn of the century, said Wang Tao, is a critical period in the reform and development of the land oil industry in China. Our basic thoughts on the development of China's land oil industry from now on are: to blaze a new trail of better commercial efficiency and rapid development by making economic efficiency upgrading the aim, and oil and gas production and operation the main     

“Better Auto, Better Life”

It has been 20 years since Auto Shanghai was firstly held in 1985，From the first Shanghai auto show with 73 exhibitors and a scale of over 10,000 square meters to the current 120,000 square meters. aiming at an international A-Class show, the development course of Shanghai International Automobile and Manufacturing Technology Exhibition witnessed the development of China‘s Reform and Open Policy and that of the auto industry in China. In June last year, Auto Shanghai obtained successfully the certificate of Union of International Fairs (UFI), which makes it the first auto show certificated by UFI in China. “Auto Shanghai 2005” has become a world wellknown auto exhibition in regard to scale and influence.     

RMB Exchange Rate Reform：Past and future

With the deepening of China＇s financial reform, economic development and the enforcement of market roles, the RMB exchange rate needs to become more flexible and become a more sensitive reflection of the changes in market supply and demand. Under such circumstances, on July 21, the People＇s Bank of China announced that the previous system where China＇s RMB was pegged to the U.S. Dollar would be changed to include a basket of foreign currencies, shifting China＇s exchange rate system into a managed floating exchange rate regime based on market supply and demand.     

Rise of China Offers Many Opportunities for East Asian Countries

As the sixth largest economic country and the third largest trading country in the world, China‘s rapid development inevitably influences all aspects of the world economy. Since the East Asian countries are adjacent to China, they are also affected by the transition and global change brought by the rise of China. In East Asia,both new industrialized countries and some of ASEAN countries have been seeking export-oriented industrialization earlier than China. Recently China has been catching up with these countries at a surprisingly rapid speed. Similar to the mode of Japanese economic development in the 1980s, China has been regarded as another important motive force for promoting economic transition in East Asia following Japan.……     

After the Termination of Foreign Capital's Super National Treatment

The ＂super national treat-ment＂ enjoyed by foreign capital has finally been put to an end, a factor which has undoubtedly been closely related to the development of China＇s macroeconomy since the reform and openup began 30 years ago. Just like other countries in the past, including South Korea and Japan, which shared the same experience, China＇s attitude towards foreign capital has shifted frominitial preferential policies,     

The Pioneering Spirit of a Centurial Aged Man

Yuan Geng,who created the Shekou Mode,is a pioneer in 30 years' history of China opening to the foreign,and a practicer of the policy by Deng Xiaoping of"Shenzhen Special Zone should break a way for China".The success of Shekou Mode provided a vane to the rapid development of economic zones and develop- ment zones in China,and the"growing up"of China.Referring to Yuan Geng,some say he is a capitalist,some say he is pioneer,and some say he is a star of reform, and so on.To carve a real picture let's go near to him and share the valuable mem- ories.     

Manufacturing：World Factory on Work

In the U-style trend of 2009, this year is predicted to face more difficulties and challenges in world and China＇s economic fields. China＇s Foreign Trade picks up several main industries, such as manufacture, energy, auto, high-tech industry and banking, to illustrate ＂the profile of industrial development in China far the new year.     

Financial institutions requested to back industrial rebalance

Monetary policy should be made to meet multiple objectives rather than focus only on fighting inflation, Zhou Xiaochuan. governor of the People＇s Bank of China, the central bank, said on December 22. China＇s monetary policy covered four considerations, Zhou said at a forum on development and reform in China＇s financial sector in Beijing. referring to low inflation, economic growth, employment and balance of international payments.     

China''s Reform of State-owned Assets Management System IS Producing Notable Results

The 16th Party Congress in November 2002 identified the reform of state-owned assets management system as a very important task of the deepened economic reform. It marked a new stage at which China promoted SOE (State-owned Enterprise) reform and development by deepening the state-owned assets management system reform. Over the past two years, the reform of state-owned assets management system has made important progress, the SOE reform has been deepened continuously,and the strategic adjustment to the layout and structure of state economy has made new steps forward. The reform of state-owned assets management system has started to produce notable results.     

Foreign-funded Banks Approved to Handle Renminbi Business

Four Foreign-funded Banks took the lead to receive approval in China to handle Renminbi business lor Chinese enterprises. China's banking industry has made a significant step in opening up to the outside world.The four banks were Hongkong Shanghai Banking Corporation (HSBC), Japan's Mi/uho Bank Shanghai Branch, U.S. Citibank Shanghai Branch and Hong Kong-hased Bank of East Asia Shanghai Branch.On February 13, a Chief from the China Banking Regulatory Commission (CBRC) said, the CBRC announced on December 1, 2003 that in the light of a commitment to the World Trade Organization (WTO), overseas banks could lend Chinese Yuan to Chinese companies after receiving approval. This provided new opportunities for overseas banks to de-     

How can foreign companies enter Chinese market？

China‘s entry of WTO signifies its connection with the world market.More and more Business opportunities will be found in China with the development of its market economy. The great potentials of China‘s market arc especially attractive to foreign manufacturers and firms. It is ncccssary for foreign companies to adopt new strategy to adapt to China‘s local conditions if they hope to enter China‘s market.Only with effectivc localization strategy can they obtain a space for themselves on China‘s Market.     

Beijing Guo Xun International Consultants Co., Ltd.

China has become a "hot spot" of foreign investment based on sustained development of its economy and huge potential market since implementing the reform and opening policy. In order to offer quality professional consultant service to foreign businessmen, the Beijing Guo Xun International Consultants Co., Ltd. was established in October 1993 by the