Hong, Jin Wang (1996) Chinese economic and financial reforms : implications for foreign financial institutions. Research Master thesis, Victoria University of Technology.

Abstract

Beginning in the late 1970s foreign banks were allowed to enter into China in line with the country's overall economic reform and opening up program. Recently, many of the world's larger banks have entered the Chinese market and have settled into a strong presence in China, mainly through branches, operating subsidiaries and representative offices in coastal cities and Special Economic Zones. However, unlike other Australian industries which are strengthening their operations or cooperative undertaking in China, in respect of their number of operating institutions in the Chinese financial market Australian banks are behind many foreign banks such as those of the United States, Japan, Hong Kong, UK and France and so on. There has been no systematic study of Australian banking industry entry into the Chinese market to date. This study attempts to identify the opportunities and challenges which foreign banks will face in the second stage of the Chinese economic and financial reforms. The study will also compare and evaluate the market strategies of French and Australian banks in China. The survey focused on both Chinese and foreign banks in China. The findings indicated that the second stage of the Chinese economic and financial reforms should bring opportunities to foreign banks which should outweigh their challenges or difficulties. The study also indicated that Australian banks were in unfavourable position as compared with French Banks, and the business strategies of Australian banks are more conservative than those of the French banks.

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