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Banks should realize that reshuffle of industry will come soon, says expert

Barbara Woodward，the British ambassador to China，delivers a welcome speech at the British Embassy Open Day in Beijing on Saturday. [Photo provided to chinadaily.com.cn]

Bali's colleagues say he is a quick learner and applies clear logic. "I got exposed to digital and technology in my previous jobs. Digital and technology－that's what China is all about now. And the speed and intensity here are much higher."

Backed by the 252 trillion yuan banking industry, the asset management segment had grown rapidly, haphazardly and dangerously in recent years. It is now considered as important as the banks themselves and the financial markets. Hence, any trouble there could have far-reaching implications.

Based on the smart system, Level 3 autonomous driving will start to work from 2021 and will grow into Level 4 and above.