The future of banking in China

China’s rise as a global economic powerhouse is one of the most important events of our time. A strong banking sector is vital to China and the worlds economy because banks dominate the financial system as a whole. According to the WTO requirements the Chinese banking market will have to be fully open for foreign institutes by the end of 2006. This event signposts a fundamental change to the competitive situation of the banking market in China, both for Chinese and foreign banks. The recent massive investments as well as the strong expansion strategy of foreign banking institutes in China are a clear indicator that they are prepared to take up the huge opportunities and challenges of China’s banking market. Given the importance and complexity of the topic, this volume provides a basis for a sound and reasonable judgment on the opportunities and challenges of the banking industry and the banking market in China.