Liu Mingkang, Chairman and President of the Bank of China has been made the Vice Chairman of the Institute of International Finance IIF. The IIF is the global association of banks and other financial institutions which represents their interests around the world.
Liu's elevation to the second most important job in the Institute is a further example of the growing international integration of the Chinese banking system. After China's accession to the WTO, international investment is now queueing up to enter the Chinese banking market. In the same process, Chinese banks are desperate to learn all they can about modern, international banking practices as they await the onslaught of foreign competition.
Sir John...
