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Chinese tourists and customers buy Russian products at the Manzhouli Sino-Russian trading area on May 15. The Inner Mongolia autonomous region's Manzhouli is a port city between China and Russia, as well as the largest land port of China. Russian traders come to the Manzhouli Sino-Russia trading area with Russian breads, cosmetics, soap and other domestic goods every morning, and bring Chinese goods back to Russia. [Photo/Xinhua]
Cliff Sheng, partner and head of financial services for Oliver Wyman Greater China, said that the regulatory tightening will prompt the banks to slow down their aggressive expansion and reflect on their existing business models.
Chinese workers deal with parcels at a local distribution center in Chengdu, Southwest China's Sichuan province, on Nov 2018. [Photo/IC]
Clinging to outmoded ideas or practices will lead nowhere, and reforms are needed to enable State-owned enterprises to modernize, he said.
Christiansen said the decline was mainly a result of US dollar weakening earlier this year. On constant exchange rates, opening profit was up 4 percent during the first half.
来源：资阳报