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it's too hard to me
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what is meaning of "red tape"? |
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red tape 就是要经过很多官方盖章红印。
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red tape
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I1: China is a wide open market right now, with 1.3 billion people just starting to use financial services; So what does this mean for foreign banks?
Franklin: We're expecting huge demand for credit cards, car loans. mortgages, wealth management products... I1: But do foreign banks face the same regulations as local banks? Franklin: Not yet, but by 2007, we'll have the same rights as Chinese banks. I2: Then waht services can foreign banks offer now? Franklin: More than you'd expect. We can already offer banking services to non-chinese multinational corporations. foreign-invested enterprises and financial institutions in the form of loans, cash management and trade finance. I1: Still, consumer finance has to be the real target, right? Franklin: Of course, But we still need access to the credit card and mortgage markets. I3: So do you have to deal with a lot of red tape in china? Franklin: Yes, It's pretty complicated. And foreign banks have to deal with deposit limitations and high regulation fees. I1: Which banking segments are likely to increase in the near future? Franklin: I think auto finance will be a big market because of the growing number of car buyers. And over the last three years, home loan volume has grown by 200 percent every year. |
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government procedures, forms, etc
eg: I'm sick of all this red tape. |
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English for Talking about Banking and Finance .
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Interview 1: China is a wide open market right now, with 1.3 billion people just starting to use finacial services. So what does this mean to foreign banks?
Frank: We expecting huge demand for credit cards, car loans, mortgates, wealth management products. Interview1: But do foreign face the same regulation as local banks? Frank: Not yet, but by 2007, we'll have the rights as Chinese banks. Interview2: Then what services can foreign banks offer now? Frank: More than you'd expect. We can already banking services to non-Chinese multinational corporations, foreign -invested enterprises and finacial institutions in the form of loans, cash management and trade finace. Interview3: Still, consummer finace has to be the real target, right? Frank: Of course. But we still need to access to the credit card and mortage markets. Interview3: So do you have to deal with a lot of red tape in China? Frank: Yes. It's pretty complicated and foreign banks have to deal with deposit limitations and high regulation fees. Interview 1: Which banking segments are liking to increase in the near future? Frank: I think the auto finace will be a gig market market because of the growing number of car buyers, and over the last three years home loan volume hass grown by 200 percent every year. |