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implementation.
When it came to banks, the employees who lent money to companies had the same
salary with those who deposited money. Accordingly, the former did not want, nor
can they to assume the responsibilities for ill loans. So the losses were estimated by
banks themselves. However, banks did not have enough financial information of
companies due to the poor quality of rating service and the disguise of companies.
Although the adoption of the companies‘ saving registration form and the
involvement of government could be helpful, social credit system was the essential
solution for ill loans of bank.
Finally, Dr. Zhou compared the two disposal modes of the relationship between
companies and banks in the UK, the U.S.A. , Japan as well as Europe in general.
Banks in the first two countries lent money to companies according to the information
of rating companies, while other banks had abundant information to make decisions.
However, each of the two modes are not applicable to our banks thus we couldn‘t
learn from them. He commented that banks in China should collect enough
information of companies through the cooperation with other banks and financial
organizations and financial service companies could offer additional information.
When Dr. Zhou was asked about the use of the investment on Bank of China and
China Construction Bank, he answered that special organizations had been set to
manage and supervise the fund. As for the stabilization of RMB‘s exchange rate, Dr.
Zhou explained that RMB‘s exchange rate system should cooperate with the process
of financial reformation and need the expansion of market coverage.
Edited By : Liu Li
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