1. Friday May 25, 2018
      Home > News > Economy
      Text:| Print|

      Chinese banks set for greater international role

      2012-10-08 13:36 China Daily     Web Editor: qindexing comment
      May Yan, director and head of China banks' research for Barclays in Hong Kong. [Photo/China Daily]

      May Yan, director and head of China banks' research for Barclays in Hong Kong. [Photo/China Daily]

      China Construction Bank Chairman Wang Hongzhang said in September that he is prepared to spend up to $15 billion (11.6 billion euros) on a major acquisition in Europe.

      His comments raised the prospect of a Chinese bank using its cash-rich status to take over one of the banking sector's big names.

      "Some of the banks in Europe have been put up for sale. Now we are looking for the right choice," he told the Financial Times.

      With that sort of money at his disposal, Wang could almost buy the troubled Royal Bank of Scotland, 82 percent owned by the British government, and with a market capitalization of $17 billion; or comfortably acquire Commerzbank, also part owned by the German government, valued at $9 billion.

      Yet May Yan, director and head of Chinese banks' research for Barclays in Hong Kong, does not believe Chinese banks have the management capability yet to take over a major bank.

      "I think Chinese banks will make acquisitions but I am not sure they can buy, for example, Royal Bank of Scotland. It is just too big a task," she says.

      "They just don't have the international experience to manage such a bank and culturally it would be very difficult, too."

      This is something the Chinese banks are also fully aware of.

      Wang Yongli, vice-president of Bank of China, said recently that while Chinese banks had the cash resources to make acquisitions they still faced difficulties.

      "One of the biggest challenges for Chinese banks going abroad is the unfamiliarity with laws in overseas markets," he said at the recent 6th Annual China Bankers Forum at the CEIBS campus in Beijing.

      "There lie huge differences among different countries' laws, taxation and financial regulations. Chinese banks have to deal with many unfamiliar regulations when going overseas."

      One of the largest acquisitions by a Chinese bank so far has been in Africa with ICBC paying $5.6 billion for a 20 percent stake in South Africa-based Standard Bank.

      Before the economic crisis China Development Bank bought a 3.1 percent stake in Barclays to help it finance its failed bid for ABN Amro and has since lost money on the deal with the slump in the UK bank's share price.

      Ba Shusong, deputy director general at the Development Research Center of the State Council, believes mainland banks will continue to make overseas acquisitions but many of these will be nearer to home rather than in Europe and the United States.

      "There must be more in the future since mergers and acquisitions are a much more effective way for the banks to expand their international business than building up branches from scratch," he says.

      "I think Hong Kong will be a favorable starting point for many mainland banks wanting to expand overseas. They are more familiar with the Hong Kong business environment, particularly its laws and regulations. Hong Kong also enjoys a less rigid banking regulatory system."

      Going international will be a major step change for the Chinese banks since they will not just face the domestic banking concerns they are familiar with but problems on a global scale.

      Zhu Min, deputy managing director of the International Monetary Fund, told the Beijing bankers forum that Chinese banks would have to up their game to meet these.

      "Only if one is fully prepared for the constant changes in the global financial market can one win against global competition," he said.

      Comments (0)

      Copyright ©1999-2011 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 久久精品国产亚洲AV网站 | 成人毛片视频免费网站观看| 亚洲熟妇无码乱子AV电影| 国产精品亚洲专区无码牛牛| 亚洲一区无码精品色| 狠狠入ady亚洲精品| 国产伦一区二区三区免费| 久久亚洲中文无码咪咪爱| 色吊丝最新永久免费观看网站 | 成人无码区免费A片视频WWW| 女人被弄到高潮的免费视频| 亚洲高清偷拍一区二区三区| 噜噜噜亚洲色成人网站| 久久精品一区二区免费看| 黄网址在线永久免费观看 | 亚洲AV永久无码精品一区二区国产| 欧美亚洲精品一区二区| 免费人成在线观看播放国产 | 在线观看亚洲电影| 免费又黄又硬又爽大片| 成人免费网站视频www| 国产精品亚洲精品日韩已方| 免费无码作爱视频| 久久久亚洲欧洲日产国码是AV | 无码人妻丰满熟妇区免费| 亚洲丁香色婷婷综合欲色啪| 精品无码免费专区毛片| 亚洲午夜无码毛片av久久京东热| 一级毛片免费不卡| 97碰公开在线观看免费视频| 中文字幕乱码亚洲精品一区| 无码国产精品一区二区免费式芒果 | 日韩午夜理论免费TV影院| 亚洲国产成人久久三区| 国产成人青青热久免费精品| 一边摸一边桶一边脱免费视频| 亚洲AV无码国产丝袜在线观看| 99久久国产热无码精品免费 | 国产精品亚洲色图| 国产V亚洲V天堂A无码| 国产一卡二卡3卡四卡免费|