Source: CAIJING.COM.CN October 25, 2012 15:47 Comment (0) Print Word size:
At the forum, CMB President Ma Weihua asserted that the high-growth mode for Chinese banks over the past three decades can no longer be maintained due to changes in market conditions, demands, and restrictions. The economic slowdown caused by China’s economic transformation, market-based interest rate reforms, financial disintermediation, and bank financing restrictions will pressure banks heavily, and drive them to implement urgent reforms. Banks should shift their focus to young consumers, retirement financial services, and consumption and mobile payments. They must also improve their management systems to compete with the global leaders.