Banking industry must seize new trend
Updated: 2011-09-14 16:25
By Hao Yan (chinadaily.com.cn)
Ma Weihua, president and CEO of China Merchants Bank, spoke on Sept 14, 2011 at the Mentors Opening Press Conference of the Annual Meeting of the New Champions 2011 in Dalian, Liaoning province. [Photo/chinadaily.com.cn]
The Chinese banking industry needs to transform at the same pace as the changing economy and go abroad to serve enterprises that have overseas operations, President and CEO of China Merchants Bank Ma Weihua said on Sept 14.
Traditional businesses of Chinese banks are facing challenges from China's tightening monetary policies.
"Chinese banks need to cope with changes and secure assets quality, and only those that seize the new trend may maintain development" said Ma, at the Mentors Opening Press Conference of the Annual Meeting of the New Champions 2011 in Dalian, Liaoning province.
China Merchants Bank, as a listed company, will guard and prevent risks and offer good value for stock holders, Ma said.
Asked about Small- and Medium-sized Enterprises' (SMEs) difficulties in obtaining loans, Ma said banks want returns that match the investments, and SMEs are considered relatively safe.
"Rapidly growing SMEs with high-competitiveness will not be affected by the loan issue, but traditional businesses with low competition and facing shortage of loans will have to adjust themselves," he added.
The Annual Meeting of the New Champions 2011 opened on Sept 14 in Dalian, Liaoning province, and will end on Sept 16.
2011 Summer Davos opens in Dalian 2011-09-14 13:39
Wen: China's opening-up a long-term commitment 2011-09-14 14:31
China willing to help debt-ridden Europe: Wen 2011-09-14 14:31
Wen urges confidence in economic recovery 2011-09-14 06:48
- Outstanding foreign debt climbs to $642.5b
- Standard for "high pure gold" set
- Vanishing property boom signals price decline
- BYD: How to 'build your dreams'
- China raises bar for fuel-saving car subsidies
- Huawei eyes enterprise deals
- China to curb chemical plants
- China extending pension program to countryside