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Banking industry must seize new trend

09-14-2011 16:55 BJT

The Chinese banking industry needs to transform at the same pace as the changing economy and go abroad to serve enterprises in difficulties, President and CEO of China Merchants Bank Ma Weihua said on Sept 14.

Caption: 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]

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 15.

Editor:Yang Jie |Source: China Daily

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