STATE OWNED BANK (SOB)
The term SOB in the Chinese economy indicates bank controlled directly or indirectly by the State. This kind of bank operates under the supervision of the People's Bank of China (PBOC) and its local offices.
In 2003 is started a reform process of China's banking system that has transformed some State owned banks in private companies. Currently in China there are different kind of SOB:
- Three "policy" banks responsible for financing economic and trade development and state-invested projects: Agricultural Development Bank of China (ADBC), China Development Bank (CDB) e Export-Import Bank of China (Chexim).
- City commercial banks: Most city commercial banks have strong ties to their local government and are majority or wholly State owned.
Editor: Giovanni AVERSA