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Bank of China Enhancing Research on New Industries

Xiao Gang, Secretary of the Party Committee and Board Chairman of the Bank of China, recently advised that the bank is enhancing the research of strategic new industries. It will also support the development of a "low carbon economy." Xiao pointed out that the Bank of China should optimize the structure of its loans to be positively in line with the restructuring process of the economy. Its research is aimed at new financial products and service models. Mr. Gang also commented on the needed improvements in personal financial services, integrated domestic and international business, and risk management.

Source: Xinhua, December 7, 2009