DESPITE a move to expand overseas by China's four specialist banks, the Bank of China (BOC) is confident that it will continue to play a dominant role in foreign trade in the next decade.
In a seminar called Finance and Enterprise Transnational Management, Liu Jinbao, president of BOC, People's Construction Bank of China, Agricultural Bank of China and Industrial and Commercial Bank of China, said the move would lead to fierce competition among them.
With its foundation of more than 80 years, and its expertise on foreign trade, he said BOC could still play a dominant role in multinational banking activities over the next 10 years.
The two-day seminar began yesterday in Shanghai, and was co-hosted by the BOC's Shanghai branch and the East China International Finance Institute.
Various topics on the management of multinational finance institutes and enterprises were discussed.
'Development of the multinational activities of the bank will facilitate the state enterprises to spring abroad to broaden their overseas trade,' Mr Liu said.