Abstract

As a result of the full opening up in China’s banking industry in 2006, foreign banks have gained more power in the market. On the one hand, it exerts a lot of pressure on domestic banks; on the other hand, it becomes a significant challenge for China’s financial security. As a country opening up much earlier than China, United States may offer some ideas on how to avoid mistakes in the opening process. This article discusses what China can learn from US experience through the comparison in the openness of banking industry.

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