China to open banking sector as promised

CHINA - China will keep its promise to gradually open up its banking sector in accordance with the timetable set in the WTO agreement, said Chinese central bank governor.

Dai Xianglong, governor of the People's Bank of China, confirmed this on 1 February at a New Year party for foreign financial institutions in China.

Dai said that the opening up of China's banking industry is an important part of China's policy of opening and reform. China's entry into the WTO marked a new stage in China's ban