Recently, Ma Weihua, the president of YRIC and former President of China Merchants Bank think Chinese banks should grasp the opportunity to internationalize. But at first, Chinese banks should take foot in the local market, and then consider the expansion speed and scale of overseas operations.

Mr. Ma Weihua, President of YRIC

Besides, due to the overall strength of Chinese banks is growing, they could develop in the financial crisis. In the recent 5 years, China's mainly state-owned banks respectively finished the transformation into joint-stock, brought in strategic investors, went public and a number of major initiatives. Bank governance structure is improving day by day, internal control mechanism is constantly improving, risk management ability is having significantly improvement, and incentive restrictions and performance appraisal system is gradually improving. As the Chinese market economic system construction advances deeper, the effectiveness of Chinese banking regulatory has been gradually improving, which provides the healthy running, reform and development of Chinese commercial banks with important guaranty.

Chinese banks should grasp the opportunity to internationalize. “As a small and medium sized commercial bank in China, the reason why China Merchants Bank can stand out from the rest and have a certain competitive advantage in the market is due to our persistent  innovation and business specialty.”President of YRIC Ma Weihua said, in the historical background of continuously advancing economic and financial globalization, information and marketization, Chinese banks are increasingly necessary to speed up the internationalization development to expand the survival and the development space. On the one hand, cross-border financial services requirements of Chinese enterprises and Chinese people are increasing. On the other hand, with Chinese economy and finance opening up quickly and comprehensive, more and more international banks enters Chinese market, and becomes an important competitor within China banking industry. Internal requirements of Chinese banks to enhance their international competitiveness are increasingly urgent.

When talking about how China Banking implement the internationalization strategy, YRIC president Ma Weihua thought that China banking industry should internationalizes by four policies including acquisition with construction, management in advance, localization management and taking foot in the local market. Thanks to industrialization of Chinese agriculture, rural urbanization, economic globalization and consumer revolution, for a quite long time later, Chinese economy will maintain rapid growth. Good prospects of China's economic future determines the broad development space for China banking industry. Thus, Chinese banks should take foot in the local market, and then consider the expansion speed and scale of overseas operations.