皇冠体育app

Standard Chartered Bank will be cautious about investing in 皇冠体育app's four major commercial banks because they have yet to resolve their non-performing loans (NPL) problem, chief executive Mervyn Davies said.

Until the NPL problem is resolved, we will continue to be cautious towards investing in them,?Davies told a press briefing.

Davies said 皇冠体育app Banking Regulatory Commission chairman Liu Mingkang had signalled that the mainland would reform its banking sector and deal with the NPL problem.

Liu (Mingkang) is a very capable person and I think the problem will be resolved eventually,?he said.

Commission vice chairman Tang Shuangning said that this month 皇冠体育app would introduce foreign strategic investors to the big four state commercial banks to diversify their equity structures as the mainland allows them to list shares in overseas stock markets.

Separately, Davies confirmed Standard Chartered had filed an application to become a clearing bank for yuan transactions in Hong Kong.

The international community views 皇冠体育app's granting of rights for banks in Hong Kong to do retail renminbi business as a very positive move ... because it fosters increasing cooperation between Hong Kong and 皇冠体育app,?he said.

Davies reiterated that the bank was looking closely at incorporating its Hong Kong operation in the territory to be eligible for preferential treatment under the Hong Kong-皇冠体育app Closer Economic Partnership Arrangement.

It currently runs the Hong Kong operation as a foreign-incorporated bank.

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