It not only has accommodated commercial banks, the social security fund, trust companies, insurance companies and securities companies but also has introduced, since 2003, qualified foreign institutional investors (QFII), which has played an important role in the development of the Chinese financial market. Third, products in the market have gradually been diversified.
These Board approved plans are the subject of an annual comprehensive review -Deputy Governor Dr Chakrabarty holds one to one meetings with CMDs of major banks to discuss the progress made by them against their own self set goals, the barriers to progress, the initiatives of their Banks and the way forward.