Chinese Vice Premier Huang Ju said Thursday that China welcomes French financial institutions to participate in Chinese commercial bank reform.

Huang said the Sino-French strategic partnership and cooperation in financial sector has progressed soundly.

Christian Noyer, governor of the Bank of France, said his bank values the role of Chinese financial sector and hopes to further promote the relationship and cooperation between French and Chinese financial sectors.

China is striving to reform its banking system, especially the state-owned commercial banks, which were troubled by bad loans and management. Their cooperation with foreign partners is expected to improve cooperate governance and profit capability.