He said, if nothing special happens, China will enter WTO by the end of this year. After China's entry into WTO, we will face many competitions, but mainly in the financial industry.
Finance is globalized.
However, because China's finance industry is in the absolute monopoly, and the reform is comparatively lagged behind, it will be in an inferior position when competing with foreign counterparts. Hence, the finance industry should have reforms as soon as possible. During this process, banks such as Minsheng Bank should lay their stress on how to compete with foreign commercial banks. All rights reserved.