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Foreign Investors to Be Allowed 20 Percent of Chinese Bank Equity Shares

Reforms to Chinese banks are now essential.

China is seeking cooperation from foreign investors in resolving the plight of its heavily indebted banks. According to an official of the China Banking Regulatory Commission, the government plans to permit foreign investors a maximum 25 percent equity shareholding in Chinese banks, a substantial increase on the current 15 percent. Reforms and reshuffles will be conducted within the four major state-owned commercial banks -- Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China and China Construction Bank -- and also the Agricultural Credit Bank. Foreign investment will be allowed in joint stock banks and over 100 urban commercial banks. Foreign investors will soon be strategic partners within the four major state-owned commercial banks.