文档介绍：CRMinis_ChinaPFS_v2 2/12/02 1:47 PM Page 1
CHINA’S BANKS GET PERSONAL 1
China’s banks get
personal
Mike Sherman, David A. von Emloh,
and Wenjie Zhang
Although some product markets will open up
for foreign banks in China, the playing field
won’t be as level as many expected. Yet Chinese
banks must e far more savvy or risk losing their KEVIN CURRY
local dominance.
China’s recent accession to the World anization (WTO) will
create opportunities for foreign and domestic players seeking to tap into
the country’s booming market for retail financial services. But before
panies can cash in, they will have to e some hurdles,
even as the demands of China’s most profitable banking customers rede-
fine petitive landscape. Indeed, a recent survey suggests that
changing consumer preferences may have a more immediate impact than
the WTO-mandated
regulatory reforms. EXHIBIT 1
China on the rise
Although some product
markets will open up for China’s gross domestic product, trillion RMB1
foreign institutions, the
playing field will not be CAGR2 =
%
as level as many had
expected. Foreign banks
won’t, for instance, be
able to collect deposits
in China’s currency, the 1995 1996 1997 1998 1999 2000
renminbi, until 2007,
Average annual e of urban households, thousand RMB1
which will limit their abil-
20 2