CHINA’S BANKERS BEGIN TO GET OUT OF THE RUT
“China’s banking system had its Big Bang two years ago,” observed a People’s Bank official. “Some complain that it was like a nuclear explosion and that we are not suffering from fall-out.”
The Chinese Government’s decision to transform the entire banking structure from January 1984 has had a dramatic impact on the financial environment. Bank personnel, whose principal task for 30 years had been to act as book-keepers and cashiers for the central administration, found themselves evaluated on their ability to generate profits.
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