In The Banks Deal With Foreign Banks Competitive Analysis, Business In China

China's banking will open to the world after China entering to the WTO, foreign banks are entering to the Chinese finance market rapidly so that they can acquire a big share, so the banking will be confronted with a keen competition. It is known to all, there is still an obvious gap between China's banking and foreign banking. Foreign banks have many advantages such as capital, administration experience, products and services and so on, which will make the Chinese banks face the more difficulties In order to ensure Chinese banks be health and strong in the fierce competition, we must investigate the new circumstances, draw the proper tactic and strategy. We should make use of the short and precious transition period, grasp the opportunity and salute the challenge. We also should speed up the reforming of stated-owned banks, accelerate the pace of its self-remolding, and gradually improve the operation environment. In the long run, China's banking will gain more from joining in the WTO, but maybe in the short term or mid-term run, the cost will be more than profits.