| The globalization of the economy is striking everywhere of our world. The core of the economic globalization is the globalization of finance. It`s an unavoidable tendency for the finance industry to open out, and the government of our country must conform to such tendency which has been choiced by the history after the accessing to WTO. According to the essence regulation of the GATS, our country will open the financial market and endow an entirely and opposite competition environment to the foreign invest banks as to the banks of our country.The finance enterprises in china have been living under a closed situation and have been accustomed to the protection of the national monopolization for a very long time. We must advance the competitive promptly for the survival and development.The schedule of the opening has been confirmed and being implemented now: The section restriction in Shanghai,Shenzhen,Tientsin,Dalian will be removed promptly after the accession to the WTO, and Guangzhou,Qingdao,Nanjing,Wuhan within one year, tsinan,fuzhou,chengdu,chongqing in the second year, and from then on, the foreign banks will get the permission of offering the service operation in RMB to china enterprises. In the third year, is the turn of Peking,Zhuhai,Xiamen,Kunming. In the fourth year after the accession , Xian,Shenyang,Ningbo,Shantou will call off the section restriction. The fifth year, the foreign banks can provide the service in RMB in every region in china.At present, there are nearly 200 institutions of foreign invest banks keep their operation in many principle cities in china. In those institutions and cities, there are 100 institutions and 13 cities offer the service operation in RMB to the China companies and the foreign invest enterprises. The foreign banks will enjoy the same treatment with our commercial banks by the end of 2006. That means any restrictions that is imprudent and differ from our bank will be removed. The comparative advantage of Chinese banks will be greatly weakened.Our commercial bank will be an ordeal in the more competitive financial market as the coming year of 2006. The problems created in the long reforming and developing history has become a heavy burden. The low level of the general management, the lack of the capital, high rate of the badness assets, the unsecurity of the new credit assets, the high degree of the monopolization, unclearly property right etc. All these history problems should be responsible for the low efficiency and the low profit level. Many new problems generated in the financial innovation. We must take effective measures to tackle these problems such as the unreasonable structure of the organization, the singularity of the operation, the low innovational ability of the financial product, the unreasonable competition, the lack of the human resources, the low level of the electrization and the unideal supervision.Of all the problems in the banking industry reform, the biggest obstacle is such series problems as the management structure, the risk management, the internal control, the information systems and the lag of the product innovation. These problems will be responsible for the high rate of the badness assets, the high risk centralization, high operation cost and the weakness of capital refill and self development. The competitive will decline by the end. Those problems cannot get solved in short time, it depend on the outside resources and self innovation.The press and the challenge following the WTO also creates the opportunity of the reform and improvement. The foreign bank will make full use of the advantage of which the abundant capital, the century's accumulated experience, the globalization management, the all-around service and make use of the advantage of the bank insurance and mix stock operation to gain the gold-customer colony, abstract the talents and share the market with our commercial bank. Not only the press and the challenge will be brought by the foreign opponent, but also the opportunity and the dyn...
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