... banks in five years after WTO entry. Many reviewers state that the wave of foreign banks entering China today must have vast and profound implications for Chinese financial system. Compared to huge amount of total assets held by domestic banks- which was $1trillion in 2002, foreign banks in China only own a small proportion of it- about 2% in the same year. However, the fact that foreign banks stand out as a fierce competitor to domestic banks and the strong challengers to China's current banking system can not be solely explained by their today's market share, thinking about their short-time presence and the severe market-penetration restrictions in the country, but rather by what they have done and are going to do in China's financial market. Hence, it would be interesting to discuss the development and prospects of foreign banks' business in this country. 1. The strategies of foreign banks in China It is ...

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