OREANDA-NEWS. June 1, 2012. Jackson Cheung, CEO of Societe Generale China, analyzed the business environment and prospects of foreign-funded banks in China. Cheung said that foreign-funded banks will benefit from the reform of exchange rate and interest rate, Chinese enterprises'' “go overseas” trend and the RMB internationalization. According to Cheung, since 2008 local incorporation, Societe Generale has been developing a universal banking model for China businesses, and has grown the number of corporate and individual clients as well as broaden its product offerings across businesses. He said Societe Generale has a long-term commitment to China, not just in 5-10 years but in 20, 30 years and more. On the market’s concern on the health of European banks, Cheung said the Group has a sound Basel 2.5 core tier one ratio of 9.4% in Q1 2012 and is on track to achieve the Basel 3 Core Tier 1 ratio target of 9% by the end of 2013 without capital increase. Hence the market needs not to worry about the bank’s financial strength and stability.