On December 11, 2006, China officially opened its banking sector to foreign banks by removing geographical and client restrictions and allowing foreign banks to conduct Renminbi business. In preparation for the arrival of new competition, the Chinese government issued a mandate requiring all 112 China City Commercial Banks to improve their internal management systems and modernize their banking processes.

By allowing strategic partnerships between domestic and foreign banks, the China Banking Regulatory Commission (CBRC) hopes to strengthen its banking infrastructure through the acquisition of new technologies--especially in the area of management training.

Recognizing this need, California-Asia Business Council, in partnership with California State University, East Bay, and the U.S. Commercial Service, proposed that the CBRC send delegations of senior Chinese bankers to the Bay Area for training and exposure to U.S. best practices and solutions in this sector.

The first delegation arrived the week of June 12 – 16, 2006 and included Chairmen, Presidents and Vice Presidents from 11 city-level commercial banks, as well as officials from the CBRC and the China Banking Association. The week-long program included a variety of training, site visits, and networking events. This provided an opportunity for Bay Area firms and sponsor companies to meet and exchange views with these senior executives on areas of future cooperation.

Click here to view the photo gallery of the June 2006 Banking Week.