In a more substantive sense, therefore, only through going public and exerting enough outside pressure will the structure of corporate governance be established and improved, shattering the bureaucratic operation mechanism and ensuring the success of reform of state-owned commercial banks.
The reform of some large-sized state-owned enterprises, in particular, their changes after share-holding reform and going public, provide precedents for reform of state-owned commercial banks. It is observed that some large-sized state-owned enterprises were much like government organizations before going public. Lack of clearly defined ownership resulted in immense insider control, inefficiency of operation and poor performance.