Dai Xianglong: Entry of WTO poses pressure on China Banks

Dai Xianglong, the chief of  Peopleˇ¦s bank of China , said in an interview of mainland Financial Times that with the entry of WTO and opening of mainland banks, China banks would meet great pressure and competition of fighting for high quality customers and talent people.In order to make mainland banks more competitive, China should speed up commercialization paces of state-owned banks and help medium-small banks develop stably by further perfecting financial monitor system , bettering external environment and improving social credit. So Dai thought great competition would facilitate the reform of mainland banking system.

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