Door Klaus Koehler

Overeenkomsten en Hervormingen na het Lid worden van van WTO

Toen China van WTO lid werd, eiste de organisatie China om speciale verplichtingen betreffende de bankzaken in het land na te leven. China moest overeenkomen om hun banksector voor buitenlandse banken binnen vijf jaar volledig te openen na het lid worden van van WTO vanaf 2001 - 2006. China ging specifiek akkoord, dat het buitenlandse banken zou toestaan om vreemde valutazaken zonder enige markttoegang of nationale behandelingsbeperkingen te verwezenlijken, en om vreemde valutazaken met buitenlands-geïnvesteerdes bedrijven en buitenlandse personen te leiden, behoudens bepaalde geografische beperkingen. Twee jaar na het lid worden van van WTO, zouden de buitenlandse banken binnenlandse muntzaken met Chinese bedrijven moeten kunnen hebben leiden onderworpen aan speciale geografische beperkingen, en binnen vijf jaar overeen kwam China om alle geografische beperkingen op te heffen. China was ook het ermee eens dat de buitenlandse banken worden toegestaan om het financiële huren de diensten tegelijk met hun Chinese tegenhangers te verlenen.

Nochtans, was China langzaam in het ten uitvoer leggen van de overeenkomsten. In 2002 gaf de Bank van de Mensen van China verordeningen uit die buitenlands-gefinancierde banken samen met regels regeren om tempo met de WTO verplichtingen te houden maar PBOC was uiterst voorzichtig in het openen van hun banksector. Deze situatie maakte het voor buitenlandse banken moeilijk om de markt in te gaan en hun aanwezigheid uit te breiden. Om een voorbeeld te geven, stond PBOC buitenlands-gefinancierde banken toe om één tak slechts te openen om de 12 maanden. Of course this resulted in pressure from countries such as the USA, Australia, Canada Japan and several European countries. Therefore the PBOC announced in December 2003 that foreign banks were permitted to conduct domestic currency business with Chinese companies and the working capital requirements for foreign banks were reduced. Read the rest of “China’s Banking Industry Part II” or post a comment

By Klaus Koehler

When the China Industrial and Commercial Bank (ICBC) opened for public trading at the stock exchange end of October, the bank raised a total of USD 19.1 billion to start with, achieving the largest initial public offering ever. ICBC is now the top listed bank in Asia and the fifth biggest in the world.

Despite the enthusiasm created by ICBC’s listing, and the fact that international advisors such as Morgan Stanley are planning to add ICBC to its standard index soon, some analysts are still concerned about the basics and fundamentals of China’s banking industry. Over a long period, loans were approved by politically motivated reasons rather than economic decisions, and on several occasions, banks previously had to be “bailed out” by the government.

History of the Banking Industry in China

In the earlier years of the People’s Republic nationalization, the consolidation of the country’s banks received the highest priority. Therefore the banking industry was the first sector to be socialized. In order to maintain a firm control over all financial services, including credit and money supply, the banking system was centralized under the Ministry of Finance.
Read the rest of “China’s Banking Industry” or post a comment

Talent&Pro is a young and flexible Operational Consultancy agency that focuses on banks and insurance companies. It is an agency that, apart from providing high-quality services towards clients, is strong regarding the personal development and career opportunities of its own employees as well. Those employed at Talent&Pro are offered a two-year contract, with a one-off extension to five years, during which they receive all the space to prepare and shape their plans for the future. Basically just like Marco Hoekstra did it. With many years’ experience in banking and finance, he started out at Talent&Pro as operational manager in the Netherlands 7 years ago. Currently, with over 400 employees, Marco is focusing his attention on Talent&Pro China.

A born developer, Marco has great interest in fast economic development. After the Netherlands, Germany and the UK were conquered, it was the right moment to realize a new Talent&Pro branch in the Far East. “A place where the market is developing at top speed, where the hectic pace of the improving economy requires new strategies all the time, and where young, highly qualified individuals have a passion for internationalization…” Shanghai, China. Read the rest of “Plenty of Space in Shanghai” or post a comment