A Great Leap Forward: The Drive to Commercialization of China's "Big Four" Banks
The paper takes a critical and timely look at the ongoing commercialization of mainland China's "Big Four" banks -- the Bank of China (BOC), China Construction Bank (CCB), Agricultural Bank of China (ABC), and the Industrial and Commercial Bank of China (ICBC). We outline the best methods to commercialize these state-run banks through initial public offerings (IPO's). The impetus behind the change includes a rising tide of bad bank loans; the need for more robust banks to grow the Chinese economy; and China's urgent need to catch up to Western banks and financial institutions, as it prepares for membership in the World Trade Organization (WTO).
