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Since 1978 China has introduced several economic reforms to transform its banking sector from a planned to a more market-based one. Starting with one bank in 1978, the domestic banking market is currently comprised of more than a thousand entities. ? But is the whole sector completely transformed by now? ? How is the Chinese banking sector built up? ? How do Chinese banks perform today? The most well known problem of China's banking market is the topless level of bad loans on the domestic banks balance sheets. Some expertise even stated most Chinese banks are technically insolvent. ? What has caused the high rates of non-performing loans? ? What are the solution methods offered by the government? In this context, China entered the World Trade Organization on 11 December 2001, and committed to open its banking sector to foreign competition at the end of 2006. ? What are the likely impacts? ? Is China facing a financial crisis? This book is providing the reader with an overview on the current economic status of the Chinese banking sector. Moreover, it helps to understand the impacts of the WTO accession and the developments to come.
