The Employment Impact of China's WTO Accession by A. S. Bhalla & Shufang Qiu & S. Qiu

Author:A. S. Bhalla & Shufang Qiu & S. Qiu [Bhalla, A. S. & Qiu, Shufang & Qiu, S.]
Language: eng
Format: epub
Tags: Ethnic Studies, Social Science, Political Science, Regional Studies, General
ISBN: 9781134394630
Google: I0WAAgAAQBAJ
Goodreads: 17487722
Publisher: Routledge
Published: 2003-11-01T00:00:00+00:00

Banking and financial services 2

Prior to 1994 there were four major specialized banks in China, namely, the Industrial and Commercial Bank, the Bank of China, China Construction Bank, and the Agricultural Bank of China. The sector subsequently saw the growth of commercial, policy banks and trust companies. In an effort to introduce market criteria and commercial banking principles, in early 1994 three policy banks were established: the State Development Bank of China, the Agricultural Development Bank of China, and the Export-Import Bank of China. At present, apart from the state-owned commercial banks and policy banks, there are two other categories of share-holding commercial banks (largely of a regional nature) and city commercial banks operating mainly in large urban areas. The latter grew out of the former urban credit cooperatives. There are also other financial institutions such as investment and trust companies (He, 2002). Joint ventures are at present limited in the banking and financial services, although they are being allowed in order to enable domestic institutions to acquire international exposure and expertise.

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