Commercial lenders urged to seek high-quality growth

Domestic banks should find new driver for profits, said experts

Chinese banks should shift their focus from expansion to providing real economic value so they can seek higher quality growth, said experts from global market consultancy McKinsey and Co in a banking industry report.

McKinsey estimated the 40 largest Chinese banks will see their combined profits before tax reach over 2.2 trillion yuan ($319 billion) this year, based on their mid-year fiscal reports and 2017 performance.