In China, Postal Savings Bank Looms.

(From SinoCast China Financial Watch)

BEIJING, July 26, SinoCast -- China plans to turn Postal Savings and Remittance Bureau, a department of the national post office, into a commercial bank within this year, local media reported. China's cabinet, the State Council, is now focused on the issue and reform of the Postal Savings is already underway, reports said. In future it will become a postal savings bank, they cited an official at the Postal Savings and Remittance Bureau as saying. Liu Mingkang, chairman of the China Banking Regulatory Commission, said the bank will be established and brought into the commission's supervision network soon. He also emphasized the …