Tang Shuangning Quotations

The purpose of engaging strategic investors in the shareholding reform is not to collect funds to raise the capital adequacy ratio of the state-owned commercial banks, but to learn from the expertise of our foreign counterparts in service, management and internal control to improve the competitiveness of China's banking sector.

We will definitely reform the Agricultural Bank of China.

Although some improvements have been made in restructuring the units, the fundamental problems of inadequate risk controls, poor corporate governance and a shortage of qualified staff have yet to be solved.

Apart from overseas investors, we will also invite qualified domestic strategic investors as partners.

But we are extremely prudent over the reforms, because compared with other state banks, Agricultural Bank has a heavier burden in terms of asset quality, the number of employees is big and services cover the countryside.