Bank of China and Merlin Bond Company Is Scheduling to Re-found Investment Bank
Bank of China is negotiating with Merlin Bond Company to found investment bank. Bank of China can gain more business experience of U.S. large bank, and Mrrlin can prepare itself for entering China large domestic market. China Construction Bank and China International Financial Company, the Joint-venture of Mogen Bank Standfer Tanhui Company, and China Bank International Company, which is a subsidiary of China Bank Group, however, will be threatened in banking business.
Mr.Shen Benian, the vice mayor of Guangzhou city raised in Guangdong Economy Development International Consulting Conference, that Guangzhou, as a modernized regional financial center, has completed its formation after years of practice, and its function has gradually perfected. Guozhou has used its advantages of possessing a great quantity of capital, having a advance system of bank business to establish a project loan and bank-group loan net covering whole province and South China, and enable Guangzhou to become a center of bank loan.
In next 10 years, China will give up some industrial fields, such as manufacture industry, to foreign enterprises, and then further expand the fields that foreign fund can enter into. Doctor Zhang Xiaoqi, the director of Foreign Economy Research Institute of China State Council Developing Research Center, pointed out that this is the strategic choice that China can maintain the steady and rapid development in first 10 years in next century.
The biggest Life Insurance Company of U.S. - U.S. National Guardian Life Insurance Company and China Central Monetary and Finance University signed that contract in order to promote and strengthen the subjects of insurance, finance and accounting education.
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