| Since the 1990's, an unprecedented climax of global merger and acquisition (M&A) has occurred in the banking. But at the very beginning of the 21st century, the number of bank's M&A has greatly declined because the economic bubbles exploded and the recession appeared in America, Europe and Japan almost at the same time. However, after a short period of silence, the global merger and acquisition turned up again. M&A have already become the main trend in the banking industry. Many banks take the M&A as an important way to grow, disperse risk and improve competitive ability. In order to obtain an advantage place in the financial market, numerous international financial institutions annex their rivals through M&A. After a series mergers, the business of some banks groups have pervaded to almost every corner of the global financial market. Faced such situation, many countries took great efforts in reconstructing their bank industry in order to increase the competitive ability, so that they can take more active part in the global bank mergers and acquisitions.Along with the economic globalization and China's entrance into the WTO, the Chinese financial institution will confront more and more fierce competition. As the main part of the Chinese finance industry, the state-owned commercial banks have made a great deal contribution to the reform and development of our economy. Meanwhile, they accumulate some problems, such as low profit, high risk and poor performance. These problems not only confine their own development but also increase the financial instability of our country. So it is necessary to reform the state-owned commercial banks. In order to deal with the problems, under the leading of our government, the four banks successively began their reforms. Now the Bank of China, China Construction Bank and the Industrial and Commercial Bank of China have already finished the shareholding system reform. Furthermore, China Construction Bank has enlisted in Hong Kong stock... |
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