| Foreign Capital Banks Hasten to Enter China and Harvest Quite Abundantly |
| 10/10/2005 1:1:0 Beijing Business Today |
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On November 1, PricewaterhouseCoopers Accountant Office announced the investigation report of "foreign capital banks in China", whose result demonstrated that some seven tenths foreign capital banks estimate their income growth will surpass 30% this year. The investigation statistics from high-level officials of 11 foreign capital banks indicates that the total individual customers of these banks will increase from the present 52,000 to 530000 in the future three years, which will turn 10 times.
According to the report of investigation, more than 70% banks participating in this investigation estimate their increasing rate of income will be 30% at least in 2005 and 6 banks forecast the increasing rate can surpass 100% this year. It is known that there are only 8 banks carrying out the retail bank service at present among the foreign capital banks accepting the investigation and they are all at the state of tiny profit or loss just because of the restriction of local supervising and managing laws and regulations. The profitable services for foreign capital are the fund service and the trade financing service respectively. In the future three years, many markets including the retail service will be open to foreitn banks, so the Asia, European and some North America banks accepting the investigation all pay great attention to the potential of the retail market, and they also hold much confidence to the development and growth of traditional services. Therefore, the investigation of some foreign capital bank performed by PricewaterhouseCoopers demonstrates the total individual customers of these banks will also turn 10 times in the following three years.
A lot of high officials and banks participated in the investigation, including chief executive officers, high-level officials and presidents of 35 foreign capital banks or their branches in China, such banks with wide business in China as HSBC, American Citibank and some banks dedicated in certain specific domains. PricewaterhouseCoopers has made a selection according to the scale and time of foreign capital banks in China.
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