List of Banks in China: Types, Presence, and More

China has a vast banking system, with over 4,000 commercial banks operating in the country. This is a significant number, considering that the US has around 5,000 banks.

The majority of these banks are state-owned, with the top four state-owned banks controlling over 60% of the country's banking assets. This dominance is a result of the government's efforts to regulate the banking sector.

China's banking industry is characterized by a mix of state-owned and private banks, with some banks operating solely in rural areas. This diversity is essential for providing financial services to a vast and geographically dispersed population.

The largest bank in China is the Industrial and Commercial Bank of China (ICBC), which has assets worth over $4 trillion.

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China has a diverse range of bank types, each serving a specific purpose.

Commercial banks are the most common type, offering a wide range of financial services to individuals and businesses. They have a large network of branches and ATMs, making it easy for customers to access their services.

State-owned banks, on the other hand, are owned and controlled by the government, and are responsible for implementing state policies and regulations.

Joint-stock banks are a type of commercial bank that is owned by shareholders, and are known for their innovative financial products and services.

Private banks cater to the financial needs of high net worth individuals and families, offering personalized services and exclusive products.

China's banking system also includes specialized banks, such as the Agricultural Bank of China, which focuses on serving the agricultural sector.

The Industrial and Commercial Bank of China is one of the largest state-owned banks in China, with a long history dating back to 1912.

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China has a significant number of foreign banks operating in the country. This is evident from the list of foreign-funded banks that have been approved by the China Banking Regulatory Commission (CBRC).

Many of these banks have a long history of international presence, with some dating back to the early 20th century. For example, the Hongkong and Shanghai Banking Corporation (HSBC) has a presence in China that spans over a century.

The list of foreign banks approved by the CBRC includes banks from various countries, including the Netherlands, Australia, the United States, Canada, and Japan. This diversity of international banks operating in China reflects the country's growing importance in the global economy.

Some notable foreign banks that have been approved by the CBRC include ABN AMRO, Australia and New Zealand Banking Group, and Bank of America Merrill Lynch. These banks have been able to incorporate locally and start their preparatory work for setting up local corporations in China.

Here is a non-exhaustive list of some of the foreign banks that have been approved by the CBRC:

The Agricultural Bank of China is the country's third largest bank by assets, with over 860 million retail customers and 22,800 domestic branch outlets. It's headquartered in Beijing and listed on both the Shanghai and Hong Kong Stock Exchanges.

Agricultural Bank of China isn't the only state-owned commercial bank in China. There are four others: Bank of China, Bank of Communications, China Construction Bank, and Industrial and Commercial Bank of China.

Here's a list of the 12 national commercial banks in China, ordered by their Tier 1 capital amount as of 2018:

The Industrial and Commercial Bank of China (ICBC) is the largest bank in China and globally by assets, deposits, and loans.

ICBC has over 750 million personal customers, 13 million corporate clients, and 409,000 employees.

It operates through about 15,500 banking outlets and 52,000 ATMs primarily in Mainland China.

ICBC also has international branches and subsidiaries across Europe, the Americas, Asia, and Africa.

China Construction Bank (CCB) is the second largest Chinese bank by total assets and is ranked second based on tier 1 capital in the World's Top 1,000 Banks by The Banker.

CCB offers high quality financial services through about 14,500 branches, small business and personal loan centers, and private banking offices.

Agricultural Bank of China (ABC) is the country's third largest bank by assets.

ABC has more than 860 million retail customers and approximately 22,800 domestic branch outlets.

The Bank's shares are listed on the Shanghai and Hong Kong Stock Exchanges, with a market capitalization of US$185 billion as of December 5, 2024.

Here is a list of the four major state-owned banks in China:

These banks are often referred to as the "Big Four" banks in China.

Popular online banks in China are gaining traction, and it's worth taking a closer look. WeBank, for instance, is a private digital bank backed by Tencent, and it has over 360 million personal customers and micro, small and midsize enterprises.

WeBank was the first neobank in China, established in 2014, and in 2023, it was named Best Global Digital-only Bank by the Asian Banker. Another notable online bank is MyBank, which is a privately-owned commercial online bank with a focus on SMEs and farmers, operating as a subsidiary of Alibaba's Ant Group.

AiBank, established by China CITIC Bank and Baidu in 2017, has over 90 million customers. Suning Bank, backed by Chinese non-government retailer Suning.com Co Ltd, and XW Bank, backed by smartphone and consumer electronics maker Xiaomi Inc, are also worth mentioning.

Here's a list of popular online banks in China:

The top banks in China are a force to be reckoned with, and it's no surprise that they're among the largest in the world. The top 10 banks in China are:

Here are the top 10 banks in China in terms of total assets, as of September 30, 2023:

These banks have a significant presence in the Chinese market, with ICBC holding the top spot with total assets of 6.281 trillion US dollars.

China has three policy banks, which are institutions that play a crucial role in the country's financial system.

The Agricultural Development Bank of China is one of these policy banks, with its headquarters located in Beijing.

Here's a brief overview of China's policy banks:

The China Development Bank was incorporated in December 2008 and was officially defined as a development finance institution by the State Council in March 2015.

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You can find official service information through various government websites, such as the Federal Register or the Government Accountability Office.

The Federal Register is a daily publication that provides a comprehensive and organized source of information on government actions and policies.

It's a great resource to stay up-to-date on regulatory changes and updates.

The Government Accountability Office (GAO) is a non-partisan agency that provides independent and objective information on government programs and policies.

Their reports are widely used by lawmakers, policymakers, and the public to inform decision-making.

By accessing these resources, you can get accurate and reliable information on regulatory and official matters.

For your interest: China Banking Regulatory Commission

China has three policy banks, and each of them plays a crucial role in the country's economic development.

The Agricultural Development Bank of China is one of the three policy banks, and it's headquartered in Beijing.

China Development Bank was incorporated in December 2008 and officially defined as a development finance institution in March 2015.

The Exim Bank of China, also known as China Export-Import Bank, is another policy bank that's based in Beijing.

Here's a quick rundown of the three policy banks in China:

The People's Bank of China (PBOC) and the National Administration of Financial Regulation (NAFR) recently released a list of China's systemically important banks.

The list includes 20 domestic systemically important banks (D-SIBs), identified through an assessment in 2023 in line with the Assessment Methodology for Systemically Important Banks.

These banks are categorized into five groups in an ascending order of systemic importance.

The first group consists of 10 banks, including China Everbright Bank, China Minsheng Bank, Ping An Bank, Huaxia Bank, Bank of Ningbo, Bank of Jiangsu, China Guangfa Bank, Bank of Shanghai, Bank of Nanjing, and Bank of Beijing.

The second group consists of three banks, including China CITIC Bank, Shanghai Pudong Development Bank, and Postal Savings Bank of China.

The third group consists of three banks, including Bank of Communications, China Merchants Bank, and Industrial Bank.

The fourth group consists of four banks, including Industrial and Commercial Bank of China, Bank of China, China Construction Bank, and Agricultural Bank of China.

No bank is included in the fifth group, which suggests that these four groups are the top categories of systemic importance.

A unique perspective: List of Systemically Important Banks

China's banking landscape is quite diverse, with many banks serving specific regions and cities. One notable example is the Bank of Jiujiang, which is an urban commercial bank.

Several urban commercial banks were transferred from urban credit cooperatives established in the 1980s and 1990s. These banks include the Bank of Beijing, Bank of Shanghai, and Bank of Jiangsu.

Here's a list of some of the urban commercial banks in China:

City commercial banks are a type of financial institution that plays a significant role in the economy of China. They are often established as a result of the transformation of urban credit cooperatives.

Some notable city commercial banks include the Bank of Beijing, the Bank of Dalian, and the Bank of Shanghai. These banks have a long history, with some of them dating back to the 1980s and 1990s.

Here's a list of some of the city commercial banks mentioned in the article:

These city commercial banks have undergone significant changes, such as being transferred from urban credit cooperatives.

Rural areas in China have their own unique banking systems to cater to the needs of local communities. Rural commercial banks play a vital role in providing financial services to rural residents.

Some notable rural commercial banks include Beijing Rural Commercial Bank, Shanghai Rural Commercial Bank, and Chongqing Rural Commercial Bank. These banks were converted from rural credit cooperatives and have been instrumental in meeting the financial needs of rural communities.

One of the key features of rural commercial banks is their extensive network of outlets. For example, Shanghai Pudong Development Bank has about 1,700 outlets across China, excluding the Tibet Autonomous Region.

Rural commercial banks in China offer a range of services, including retail banking, investment banking, and private banking. They also provide online and mobile banking solutions, making it easier for rural residents to access financial services.

Here's a list of some rural commercial banks in China:

Macau is a special administrative region with its own unique financial system. The Monetary Authority of Macao acts as the de facto central bank and issues the Macau pataca, the official currency.

The Monetary Authority of Macao works closely with other institutions to manage the financial system. Banco da China, Sucursal de Macau, and Banco Nacional Ultramarino are some of the key players in issuing banknotes.

Macau has a number of commercial banks that operate within its borders. Here are some of the notable ones: