China's Economics, From Vendors' Perspective

choi

Rob Schmitz, China's Lopsided, Slowing Economy; State enterprises are again being favored as the pocketbooks of ordinary Chinese grow lighter. Los Angeles Times, Oct 22, 2013.
http://www.latimes.com/opinion/c ... rs-economy-20131022,0,5356694.story

Quote:

"On a recent morning, the Jinjiang Dickson Center hosted a demolition crew" heaving sledgehammers

"After years of soaring double-digit growth, China's economy is slowly coming in for a landing. * * * Two blocks down the street from Shanghai's luxury goods graveyard [锦江迪生] sits a ramshackle row of shops that cater to the rest of China. They're managed by the nation's most reliable economists: small-business owners. An unscientific door-to-door survey finds it's not just Prada and Louis Vuitton that are losing business. [Those vendors' businesses are "lousy."]

"The much-hyped Chinese consumer class — drooled over by American retailers as they scramble for sunny markets — may not be as willing to part with their yuan as companies expect. Eight out of 10 workers in China are employed by the 42 million small businesses that help drive economic growth. These firms are desperate for economic reforms that will open official lines of credit to them. As it stands, an estimated 97% of these small businesses can't obtain a simple loan from a bank.

Note:
(a) Jin Jiang Dickson Center  锦江迪生 (开发商：上海锦江迪生商厦有限公司; address: 卢湾长乐路400号（茂名南路口）)
(b) "On the Street of Eternal Happiness, the answer, for now, seems clear. As workers slammed their sledgehammers into the stores at the Jinjiang Dickson Center, I asked a security guard what would take their place. A school? A hospital? A more modest mid-scale mall? The guard paused to clear his throat of the dust, spitting on the ground between us before raising his voice over the mayhem. 'A bank!' he yelled."

The reporter did not say so, but we know that in China almost all banks are government-owned, except two:
China Minsheng Banking Corp, Ltd  中国民生银行 and
Taizhou City Commercial Bank  台州银行. See
list of banks in China
http://en.wikipedia.org/wiki/List_of_banks_in_China

So most likely the bank to be constructed will be state-owned.