10.01.2012 - China demands more competition in financial sector
Led by Premier Wen Jiaobao, the Financial Work Conference is held once every five years, and has great significance for the global financial market. At the last conference in 2007, Jiaobao launched the China Investment Corporation onto the asset management market. CIC is now one of the world’s largest sovereign wealth funds. This year, China has announced the continued development of the banking system. The government released a communiqué after the conference in which the authorities encouraged the diversification of ownership within the financial sector, and the development of new pools of capital to lend to private business..........................................Full Article: Source
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