Remember that Little Red Book of Chairman Mao? The revised version is likely to be laced with references to David Rockefeller and Chase Manhattan Corp.
A seven-member delegation of executives from Chaseled by Mr. Rockefeller, the former chairman, and current president Arthur F. Ryan -- is in China this week to discuss expansion into the once-forbidden teritory.
Meetings have been scheduled with government and banking officials in Beijing, and with leaders of China's chemical, petrochemical, civil aviation, and energy industries.
The trip comes on the heels of a seven-week-long exploratory mission during the summer by several of the bank's strategic planners and operations executives. A source said the group was exploring retail and corporate banking opportunities.
The Rockefeller delegation is considering several options recommended by this summer's scouts. One is to open an office in Shanghai to supplement a Chase outpost in Beijing, the source said.
Chase is not alone among U.S. institutions interested in China. BankAmerica Corp. and Citicorp recently sent a delegations eastward. But China has not given U.S. banks permission to open full-fledged branches.