China to commercialize policy banks

时间：2007-01-22 00:22:01

（单词翻译:单击）
 
Jan. 21 - The China Development Bank (CDB), one of China's three policy banks, will take the lead in commencing commercial operations, Xinhua learned from the Third National Financial Work Conference which closed on Saturday.

 

This is the first time China has officially announced the reform of policy banks, which also include the Export and Import Bank of China and the Agricultural Development Bank of China.

 

CDB's commercial operation will focus on middle and long-term business, said Chinese Premier1 Wen Jiabao at the meeting.

 

Public bidding will be introduced into the financial business previously2 commissioned by the government to policy banks.

 

The reform measures for the three policy banks will be made in line with the particular conditions of the three policy banks.

 

China will also promote reform of other commercial banks and financial asset management companies when the time is right, said Premier Wen Jiabao.

 

The decision was considered a further step in China's financial reform after the Industrial and Commercial Bank of China, the Bank of China, the China Construction Bank and the Bank of Communications have listed on the securities market.

 

The meeting also mapped out the shareholding3 reform of the Agricultural Bank of China.

 

The launching of reform on policy banks conforms to the spirits of the first and the second national financial work conference held in 1997 and in 2002 respectively, that is to strengthen the competitiveness of China's banking4 sector5, said Lin Yifu, a renowned6 economist7 from Peking University's China Centre for Economic Research.

 

China established the three policy banks in 1994 to separate the business of policy loan from the four state-owned commercial banks as a move to step up their reform.

 

The three policy banks have played important roles in promoting important constructive8 projects as well as foreign trade and rural development.

 

By the end of last year, the non-performing loans rate of the CDB was reduced to 0.72 percent.

 

Being commercialized, the CDB will have the best asset quality of any Chinese commercial bank, said industrial insiders.

 

The non-performing loans rate of the ADBC was 7.65 percent at the end of 2006, and that of the China Eximbank, 3.27 percent.

 

The ADBC and the China Eximbank will deepen their inner reform to make good preparations for their commercialized reform in the future.

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1 premier R19z3     
adj.首要的；n.总理，首相
参考例句：
  • The Irish Premier is paying an official visit to Britain.爱尔兰总理正在对英国进行正式访问。
  • He requested that the premier grant him an internview.他要求那位总理接见他一次。
2 previously bkzzzC     
adv.以前，先前（地）
参考例句：
  • The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。
  • Let me digress for a moment and explain what had happened previously.让我岔开一会儿，解释原先发生了什么。
3 shareholding d50815e5b4fdfade1f68dd62ed15450a     
n.股权
参考例句：
  • Shareholding commercial banks must exercise an independent system of board of directors. 股份制商业银行必须实行独立董事制度。 来自互联网
  • Asset re-structuring: to conduct shareholding reform for high quality assets. 资产重组：对优质资产进行股份制改造。 来自互联网
4 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
5 sector yjczYn     
n.部门，部分；防御地段，防区；扇形
参考例句：
  • The export sector will aid the economic recovery. 出口产业将促进经济复苏。
  • The enemy have attacked the British sector.敌人已进攻英国防区。
6 renowned okSzVe     
adj.著名的，有名望的，声誉鹊起的
参考例句：
  • He is one of the world's renowned writers.他是世界上知名的作家之一。
  • She is renowned for her advocacy of human rights.她以提倡人权而闻名。
7 economist AuhzVs     
n.经济学家，经济专家，节俭的人
参考例句：
  • He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
  • He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。
8 constructive AZDyr     
adj.建设的，建设性的
参考例句：
  • We welcome constructive criticism.我们乐意接受有建设性的批评。
  • He is beginning to deal with his anger in a constructive way.他开始用建设性的方法处理自己的怒气。

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