银行改革外文文献翻译-其他专业.docVIP

毕业论文 英文资料翻译 学 院： 商学院 专 业： 班 级： 姓 名： 学 号： 指导教师： 年 月 China’s Banking Reform and Profitability Erh-Cheng Hwa Yang Lei 1. Introduction The World Bank (1997) once claimed that China’s financial sector was the soft-belly in the economy. Financial sector reform has long been argued as necessary to raise efficiency in the use of the capital and in rebalancing the economy toward consumption-based growth, without which the country’s growth sustainability is in jeopardy (see Lardy, 1998; Prasad, 2007).Indeed, not too long ago, China’s state banks were deemed “technically insolvent” and their survival hinged solely on the nation’s abundant liquidity.However, after the launching of banking reform, strong profitability has returned to state commercial banks recently. But it may be too early to declare a complete victory on banking reform as yet, since Chinese state banks have embarked on the path of reform not too long ago. In addition,their strong financial performance has ridden on the back of strong but unsustainable growth. As growth has begun to soften under the weight of a global recession in 2008, banks are expected to navigate in a more difficult economic terrain than hitherto. The aim of this paper is not to evaluate the effect of banking reform on bank performance, which is better tackled after the completion of a full credit cycle. Rather, our aim is to take stock of the progress in reforming China’s state banks by reviewing the banking reformstrategy and analyzing their recent strong post-reform financial performancewhich, however, cannot be entirely separated from reforms efforts undertaken thus far. This paper has three sections. In Section 2, we review the reform strategy of China’s large state banks, which is the main thrust of China’s banking reform, as well as its implementation. The