The right networking skills can help entrepreneurs eying the global market. Author of “Born Globals, Networks and the Large Multinational Enterprise” and CEIBS Professor Shameen Prashantham on how to leverage connections.
Chinese depositors and companies seeking loans may soon find themselves presented with a longer list of options that also includes China's first batch of privately-owned banks.
China's banking watchdog said last month that five privately-owned banks, funded and operated by ten private companies are now effectively in the pipeline. The move is widely regarded as the latest follow-up to the plan announced by China's reform-minded Premier Li Keqiang which seeks to allow greater private capital involvement in the nation's profitable banking sector.
The ten investors include Chinese Internet giants Alibaba and Tencent, which have already been offering financial services in the form of Yuebao and Wechat payment, known as Internet finance in China. It is still not clear how these privately owned banks will affect China's banking business, but it is quite certain that competition will intensify and market forces will play a more significant role in the allocation of banking resources.
So how do industry insiders look at the prospects of privately-owned banks in China? What potential risks will these banks have to address in order to ensure their long-term success?
Ni Hao, you're listening to People In the Know, bringing you insights into the headlines in China, and around the world, I'm Zheng Chenguang in Beijing.
We speak to Winston Wang, Managing Director of Shipston Group Limited, an international private investment firm, and Rui Meng, Professor of Finance and Accounting at China European International Business School.
In a May 26 lecture at the CEIBS Beijing Campus, Romano Prodi, CEIBS Sino-Europe Dialogue Chair, former Prime Minister of Italy and former President of the European Commission shares his views on how global changes in productivity, wages and salaries, commodities prices and trade flows will soon make the Chinese market one of the most important strategic destinations for goods produced in China.
A few days before its launch on September 13, Co-Director Prof. George Yip explains the goals of CEIBS Centre on China Innovation, and how success will be measured, during a brief chat with CEIBS Senior Manager for External Communications Charmaine N. Clarke.