December 10, 2006	Sunday	Ziqa'ad 18, 1427

BEIJING, Dec 9: Competition for Chinese banks is set to intensify next week as regulators pry open the financial sector to meet commitments under the WTO. The rapidly emerging economic power lifts restrictions on foreign access to the retail banking market as a five-year transitional period for China to implement its WTO commitments comes to an end. If foreign banks choose to incorporate as a local entity by stumping up $128 million in capital, they will gain full access to China's retail banking market, including some $2 trillion in household deposits and the ability to issue credit cards.—Reuters