Overseas banks hunt for talent
(Shanghai Daily)Updated: 2007-02-13 11:13
The world's big names in financial circles are deepening their roots in the mainland's banking sector by establishing their own networks or teaming up with local counterparts as strategic investors.
They are vying for a slice of the country's US$1.9 trillion in household savings.
China's mainland allowed overseas banks to offer a full array of yuan services in December, a commitment required under its membership to the World Trade Organization.
A PricewaterhouseCoopers report in late 2005 forecast that overseas banks will employ more than 16,900 workers in the mainland by 2008, up from 6,654 at the time.
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