Undeterred by the financial crisis, China Minsheng Bank Corporation’s trade finance business is building on market gains and distinguishing itself as an industry leader
  
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Undeterred by the financial crisis, China Minsheng Bank Corporation’s trade finance business is building on market gains and distinguishing itself as an industry leader Foreign banks predictably insist they remain committed to the China market, in line with their long-term strategic planning. But as international financial pressure that has already resulted in divestment from local shareholding partnerships is met by ominous signs for the Chinese economy, the question remains how foreign banks in the country will attempt to weather the storm and manage their respective businesses during the crucial months ahead. Chinese banks are deepening their cash, treasury and trade capabilities, with an eye on long-term growth opportunities Frank Newman, chairman and CEO of Shenzhen Development Bank, on June 16, 2009 says, “In retail, this bank has developed a very strong mortgage capability and credit card capability; automobile finance is a strength; wealth management is building.” .. Li Renjie, president of China Industrial Bank, on February 8, 2009, says, “For trade finance, we only do the transaction process, not the lending business.” .. Guo Shuqing, chairman of China Construction Bank (CCB), focusing on retail and small business banking, e-banking, wealth management, IT, human resources, global corporate banking and investment banking, risk management .. “Bank of Tianjin also feels heavy pressure from the competition. In the last year, Bank of Beijing, Bank of Shanghai, Bank of Dalian, and Zheshang Bank all expanded into this city with new branches.” says Yuan Fuhua, president of Bank of Tianjin, China, on 21 August 2008 Xiang Junbo, chairman of Agricultural Bank of China (ABC), says , “ABC has been restructured into a joint-stock company on January 16th this year and our next plan is to introduce strategic investors and have an IPO.” .. Li Renjie, president of Industrial Bank, sees growth in partnerships with other banks.. Guo Shuqing, chairman of China Construction Bank, on how CCB is facing the challenges of the global financial crisis.. |
 
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