外资银行进入中国对中资银行股影响分析.pdf

December 12, 2006 China: Banks December 12, 2006 China: Banks The Prize: From dream to “race now on” for foreign banks in China The US$4 trillion Prize: from dream to race now on The CBRC started to accept foreign bank local incorporation applications CHINA SNAPSHOT FOR EIGHT APPLICANTS SO FAR on December 11, the fifth anniversary of China’s WTO accession. No of No of sub- No of Rmb bkg branches branches rep offices licenses ABN AMRO 5 6 3 3 BEA 12 12 5 8 Eight banks invited to apply for local incorporation, as expected Citigroup5224 Eight foreign banks have initially applied for local incorporation (needed to DBS Bank 5 1 4 3 Hang Seng Bk7715 do Rmb consumer banking), as we expected, with no surprises. Four are HSBC 13 13 0 9 Mizuho5053 HK-related: HSBC, STAN, BEA, Hang Seng Bank. Also applying: Citigroup, Stand Chart 11 6 3 7 DBS, ABN AMRO, Mizuho. We expect more applications, in due course. Source: Company data, Goldman Sachs Research ests. HONG KONG BANKS: CHINA FOOTPRINT Detailed guidelines now out, no surprises As % of total