Foreign investments in China's local banking sector – the Australian experience

Michael Ngee Tiong Tan

China Economic Journal, 2009, vol. 2, issue 2, 209-217

Abstract: This article investigates the experience of Australian banks who invested in China's city commercial banks. Special emphasis is paid to corporate governance before and after they invested in the Chinese banks. Interviews were conducted with senior personnel from the ANZ (Australia and New Zealand) Banking Group who invested in the Tianjin City Commercial Bank and the Shanghai Rural Commercial Bank and the Commonwealth Bank of Australia who invested in the Hangzhou City Commercial Bank and the Jinan City Commercial bank. Our investigations showed that corporate governance in the Chinese city commercial banks was minimal before the Australian banks invested. Since then, there have been substantial improvements but differences still persist. The article also outlines the steps and strategies adopted by the two banks to improve corporate governance.

Date: 2009
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DOI: 10.1080/17538960903083525

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