Foreign banks bullish on reform, survey shows

Foreign banks in China are upbeat about the country's ongoing financial reforms, and they are looking forward to expanding their market share in 2014, according to an Ernst & Young survey published on Monday.

The survey, which polled 38 locally incorporated foreign banks, found they are confident their management skills will give them an edge after reforms create a more level playing field among domestic and foreign institutions.

Foreign banks' market share in China has hovered near 2 percent over the past decade, as regulations made it difficult for them to mount a significant challenge to domestic banks, especially in the retail financing sector.