China's first privately owned banking corporation unveiled its latest financial products here in Shanghai recently to 32 foreign-owned banks in a bid for Sino-foreign cooperation.
The products and services offered by the China Minsheng Banking Corporation include international clearance of foreign exchanges, foreign cash business, credit card business in foreign currencies, currency transfers, a survey of overseas customers andhuman resources training.
Representatives from a dozen foreign banks such as Citibank, Hong Kong and Shanghai Banking Corporation Limited, French-based Banque de L'indochine, Bank of Tokyo-Mitsubishi, Ltd and the Bank of Dresden have expressed their willingness to strengthen cooperation with private Chinese banks since the country joined the World Trade Organization last year.
The China Minsheng Banking Corporation is a national shareholding commercial bank which focuses on aiding privately-owned industrial and commercial ventures.
Since being listed on the Shanghai Stock Exchange in 2000, thecorporation's total assets reached 138.9 billion yuan (about US$16.73 billion) by the end of 2001.
(China Daily May 20, 2002)
