ABSTRACT
Introduction China achieved an annual GDP growth of over 9 per cent during the past 30 years, becoming the third largest economy in the world next to the USA and Japan. Along with economic reforms, China’s banking system has undoubtedly contributed to this miracle. In order to better serve economic development and maintain social stability, the banking system has been subject to piecemeal but well-planned reforms. By ‘touching stones to cross the river’, banking reform has achieved important results.
