All eyes on the China factor^**This report written for The Banker was published in March 1993. We wish to express our gratitude to the editor of The Banker, Mr. Stephen Timewell for his kind permission of the reprint.

China is a growing economic force in Asia. The increasing importance of the so-called "China factor" will continue to play an important role in the economic growth of Hongkong and China. With China moving towards rejoining the GATT its financial industry is liberalizing towards foreign investors very fast. The opening up of the Renminbi currency business to foreign banks is seen as a trend. In this exclusive report the author, director of Bank of China, outlines the banking industry in China, the Bank of China Group and its developments.