"Phased result has been gained in the experiment with shareholding system reform of Bank of China (BOC) and China Construction Bank (CCB), the two banks finally have to accept market supervision and tests, and strive for an opportune time to go listing in domestic and overseas capital markets in accordance with the principle of making one start listing after another when they become matured," noted Tang Shuangning, vice-president of China Banking Regulatory Commission (CBRC), at "Caijing (Finance�CEconomy) Magazine Annual Meeting: World & China 2005" held on Jan. 18.

It is reported that the financial regrouping work of the two pilot banks has been concluded by and large, and the reform is crowned with remarkable results. Initial statistics show that by the end of 2004, the ratio of non-performing loans of BOC and CCB was 5.12 percent and 3.7 percent respectively, the appropriation-reserve coverage of non-performing loans stood at 71.1 percent and 69.9 percent respectively, and the rate of capital sufficiency at 8.62 percent and 9.39 percent respectively (figures of CCB were released in late September). The above financial indexes have reached or approached the average level of advanced international banks.

By People's Daily Online