As vice chairman of the China Banking Regulatory Commission, or CBRC, Jiang Dingzhi helps oversee an industry that has changed radically in recent years. Early in this decade, China's big lenders were entirely state-owned and sat on mountains of bad loans generated by decades of government-directed lending. Five years ago, a government bailout cleared their books of many of the rotten assets, and several of the banks went on to raise tens of billions of dollars in global initial public offerings.
Still, huge challenges remain. While their lending practices have improved -- thanks in large part to the role of foreign shareholders and partners -- the Chinese banks still need major improvements to how they operate. And they are now facing a possible global economic slowdown that could hurt asset quality in China, too.
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