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There is no substitute for experience, so delegates will be listening intently when representatives from the Bank of China speak at a Shanghai conference.

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The May conference - a joint affair with the Institute of International Finance (IIF) - will highlight corporate governance.

According to the invitation: '[Sessions] . . . will focus on corporate governance themes including the work of the IIF's Equity Advisory Group, challenges, strategies and progress in implementing corporate governance in Asia including China, and minority shareholder rights.'

Opening remarks will come from Minister of Finance Xiang Huaicheng.

On Friday, United States Treasury Department officials announced the BOC would have to pay US$20 million in penalties for misconduct by earlier management at one of its New York branches.

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The week before, China Construction Bank head Wang Xuebing was sacked - allegedly because of negligence and suspicious loans he approved during his time at Bank of China.

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