China's banking industry
China's banking industry should experience a steady growth during the 12th Five Year Plan period (2011-2015), Huaibang Hu said Saturday, the president of the Bank of Communications, the fifth largest lender in China.
Economic growth is stable and relatively fast China should lay a solid foundation for business development of commercial banks, "he said. Chinese Central Bank
Moreover, the transformation of economic growth pattern of China should then provide an additional impetus to the adjustment and optimization of business lenders.
He predicted that those cases, such as consumer credit, wealth management and credit cards should entering a golden age during the next five years, with the transition from export-oriented economy to an economy driven by domestic consumption.
Furthermore, the increase in personal wealth and the explosion of the middle class will bring huge development opportunities and many potential consumers to lenders, said Hu.
xinhua
He also strongly advised Chinese banks to improve their services and launch new products to satisfy a demand that is diversifying.
China strategy
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