Banking prospects in China

Abstract

China " the sleeping giant of Asia" as Napoleon referred to it, stepped on to the road of modern nation-building through a series of political, economic and social transformations which began in 1949. A key feature of Chinese reform was the gradual opening of the economy to the rest of the world and the concomitant change in the official attitudes to foreign trade and investment. This open-door policy has made it attractive to foreign investors, creating a huge potential market for many in encouraging Singapore businessmen to venture into China. This is specially so in the area of banking as every business requires the use of at least one banking services, thus therein lays an opportunity to capitalise on.