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Wuxi is located in the central area of the Yangtze River Delta. It covers an area of 4,788 square km and has a total population of 5.84 million.

It exercises jurisdiction over the county-level cities of Jiangyin and Yixing.as well as seven districts of Chongan, Nanchang, Beitang, Xishan, Huishan, Binhu and Xinqu.

Taihu Hotel
Standard:★★★★★
Add:Meiyuan, Yugang
Road, Wuxi

Hubin Hotel
Standard:★★★★★
Add:No.1, Huanhu
Road, Wuxi

Wuxi is the birthplace of Wu Culture, national industry and commerce, and township enterprises in China. It is an Outstanding Tourist City of China, a National Sanitary City, a National Garden City, a National Model City for Science and Education, and one of the Top 10 Most Competitive Cities in China. It is a city with characters.
 
 
 

 


 

The current profit model of China's banks, which brings high profit growth rate by stipulating the cap of deposit rates and floor of lending rates, is unsustainable, the Economic Daily reported Wednesday, citing an industry insider. 

Commercial banks in China net a profit of 1.04 trillion yuan ($0.17 trillion) in 2011, rising 36.34 percent year-on-year from 763.7 billion yuan in 2010, according to the latest figures published by China Banking Regulatory Commission. However, the high cost of carry remains the pivotal source of profits, contributing more than 80 percent of total profits in 2011.

The central bank, the People's Bank of China, is slowly loosening the restrictions on deposit and lending rates to tackle inflation, which will result in rising cost of funds and dwindling cost of carry for the banks, said Chen Xian, executive president of the Economics School of Shanghai Jiao Tong University.

But some industry insiders claim that banking reforms, better management and operations should be the top contributor to banks' rapid profit growth. The proportion of profit brought by intermediary businesses has rocketed close to 20 percent in 2011, compared with past single-digit shares, the report said.



Editor:will

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