These high-end customers can produce almost 80 percent of the total profits. The most fierce competition between the foreign-funded banks and the state-owned commercial banks will be for these high-end customers. Although China’s banking industry boasts of extensive service network and broad customer base, there will emerge big problems if they fail in the competition for high-end customers.
In the mid and long term run, we are confident in China’s banking reform and hope that more foreign-funded financial institutions will participate in this market to promote competition, innovate and improve services and strengthen economic prosperity and development. BIS Review 41/2004  5