As was the case for the US in the 19th century, continued Chinese economic growth depends on it opening up its less developed western region. Much hinges on whether the transportation capabilities of the presently underutilised Yangtze river can be harnessed, says David Lammie.
Chinese banking has become something of a gold rush. But some newcomers may be too optimistic about their prospects of hitting a rich seam. Kazuhiko Shimizu investigates.The stampede of foreign investors into China’s state-owned banking sector has all the aspects of a 21st-century gold rush: expectations of lucrative returns, competition for the best niches and plenty of risk.
After the latest investment bank beauty parade in Beijing for adviser to Industrial and Commercial Bank of China’s IPO, rating agencies’ focus has fallen on the city commercial banks. The Banker’s article ‘Best banks to buy in China’ (May 2005), identified several such banks in its analysis.