Big five lagging overseas rivals
By Maggie Zhang |
July 23, 2010, Friday
|
Print Edition
Print Edition
CHINA'S state-owned banks, though listed, lag behind overseas rivals in corporate governance, risk control and building talent, industry watchers said yesterday.
Going public helped push forward Chinese banks' development in improving corporate governance by setting up check and balance mechanisms, adopting better performance evaluation and adding banks' pressure to meet shareholders' needs, said Jeff Tao, a Deloitte partner.
However, state-owned banks are still at an early stage as popular public companies. China Construction Bank listed in 2005 as the first of the big-five state-owned lenders to go public.
The big five are now all listed after the Agricultural Bank of China's debut in Shanghai and Hong Kong last week.
Fundraising is a theme for Chinese banks after a record credit growth of 9.6 trillion yuan (US$1.4 trillion) last year.
More than 400 billion yuan is expected to be raised through IPOs on China's A-share market this year with start-ups and private companies as the main group, said Deloitte's Patrick Tsang.
Tsang said the international board at the Shanghai Stock Exchange is likely to be launched next year with big-name companies already lining up for listing on the yuan-backed A-share market.
Going public helped push forward Chinese banks' development in improving corporate governance by setting up check and balance mechanisms, adopting better performance evaluation and adding banks' pressure to meet shareholders' needs, said Jeff Tao, a Deloitte partner.
However, state-owned banks are still at an early stage as popular public companies. China Construction Bank listed in 2005 as the first of the big-five state-owned lenders to go public.
The big five are now all listed after the Agricultural Bank of China's debut in Shanghai and Hong Kong last week.
Fundraising is a theme for Chinese banks after a record credit growth of 9.6 trillion yuan (US$1.4 trillion) last year.
More than 400 billion yuan is expected to be raised through IPOs on China's A-share market this year with start-ups and private companies as the main group, said Deloitte's Patrick Tsang.
Tsang said the international board at the Shanghai Stock Exchange is likely to be launched next year with big-name companies already lining up for listing on the yuan-backed A-share market.
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