China’s Financial Institutions Go Global According to China's Economy & Policy-Gateway International Group24 Feb 2012 • by Natalie Aster
In an era when “going global” has become a national strategy in China, there is a need for financial institutions to go abroad to provide services for internationalized enterprises, and at the same time to achieve a diversified business structure.
According to the report “The “Going Global” Strategy of China’s Financial Institutions” by China's Economy & Policy-Gateway International Group, some basic patterns have been formed as financial institutions attempt to go global, a practice which is dominated by the banking sector. Although there has been rapid development, some problems still exist, as discussed in this paper.
The “Going Global” Strategy of China’s Financial Institutions
Published: January, 2012
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The flow of outward financial foreign direct investment (FDI) reached US$8.63 billion in 2010, with US$6.71 billion belonging to the banking sector, which made up 77.8% of the total. By the end of 2010, the stock of outward financial FDI stood at US$55.25 billion, with the sum and share for each sector shown in Table 1. Also by the end of 2010, Chinese state-owned commercial banks had established 59 branch offices and 57 affiliated institutions in 34 countries (regions) including the U.S., Japan and the U.K. These overseas affiliates employed 42 thousand workers, including 41 thousand foreign employees.
More information can be found in the report “The “Going Global” Strategy of China’s Financial Institutions” by China's Economy & Policy-Gateway International Group.
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