List of banks in China explained

This is a list of banks in China, including Mainland China, Hong Kong, and Macau.

The central bank of the People's Republic of China is the People's Bank of China, a component of the State Council, the Central Government of China. The People's Bank of China is mainly responsible for issuing the Renminbi and administering its circulation, in addition to formulating and implementing monetary policy in accordance with Chinese law.[1] Its counterparts in the special administrative regions of Hong Kong and Macau are the Hong Kong Monetary Authority and the Monetary Authority of Macao respectively, both of which serve as their respective locale's currency board and de facto central bank.

Banks in Mainland China

All banks, save the People's Bank of China, are under the supervision of China Banking and Insurance Regulatory Commission.

Policy banks

China has three policy banks. Among them, China Development Bank was incorporated in December 2008 and officially defined by the State Council as a development finance institution in March 2015.[2]

NameChineseHeadquarters
Agricultural Development Bank of ChinaChinese: 中国农业发展银行Beijing
China Development BankChinese: 国家开发银行Beijing
Exim Bank of ChinaChinese: 中国进出口银行Beijing

State-owned Commercial Banks

China has six state-owned commercial banks. These banks are ranked by their Tier 1 capital amount as of 2018. Banks with asterisks (*) are the four major state-owned banks (i.e. the "Big Four" banks).

Bank of Communications was founded in 1908. On 1 April 1987, it was restructured and re-commenced operations as the first state-owned bank in China.

Postal Savings Bank of China has the most outlets of any retail bank in China (~40,000).[3] Over 80% of its outlets accompany China Post post offices.

NameAbbreviationChineseAbbr. in ChineseHeadquarters
Industrial and Commercial Bank of ChinaICBCChinese: 中国工商银行Chinese: 工行Beijing
China Construction BankCCBChinese: 中国建设银行Chinese: 建行Beijing
Bank of ChinaBOCChinese: 中国银行Chinese: 中行Beijing
Agricultural Bank of ChinaABCChinese: 中国农业银行Chinese: 农行Beijing
Bank of CommunicationsBOCOMChinese: 交通银行Chinese: 交行Shanghai
Postal Savings Bank of ChinaPSBCChinese: 中国邮政储蓄银行Chinese: 邮储银行Beijing

China has 12 national commercial banks. These banks are ordered by their Tier 1 capital amount as of 2018.

NameChineseHeadquarters
China Merchants Bank招商银行Shenzhen
Shanghai Pudong Development BankChinese: 上海浦东发展银行Shanghai
Industrial BankChinese: 兴业银行Fuzhou
China CITIC Bank中信银行Beijing
China Minsheng BankChinese: 中国民生银行Beijing
China Everbright BankChinese: 中国光大银行Beijing
Ping An BankChinese: 平安银行Shenzhen
Huaxia BankChinese: 华夏银行Beijing
China Guangfa BankChinese: 广发银行Guangzhou
China Zheshang BankChinese: 浙商银行Hangzhou
China Bohai BankChinese: 渤海银行Tianjin
Hengfeng Bank / Evergrowing BankChinese: 恒丰银行Yantai

Urban Commercial Banks were transferred from urban credit cooperatives established in 1980s and 1990s.

Rural Commercial Banks

Rural commercial banks were converted from rural credit cooperatives and play an important role in rural financial needs. Some rural commercial banks include Beijing Rural Commercial Bank, Shanghai Rural Commercial Bank, and Chongqing Rural Commercial Bank.

Internet Banks and other private banks

Other banks

Branches and subsidiaries of foreign banks

The China Banking Regulatory Commission (CBRC) announced its approval for nine foreign-funded banks to start their preparatory work for setting up local corporations in China on 24 December 2006.[8] [9] [10] [11] [12] Following this, additional banks have been able to incorporate locally.

The following is a non-exhaustive list. Asterisks (*) indicate that the bank does not service individuals.

Banks in the Special Administrative Regions

Hong Kong

See main article: List of banks in Hong Kong. The currency board and central bank of Hong Kong is Hong Kong Monetary Authority.

Banknotes of the Hong Kong Dollar, the official currency of the HKSAR, is issued by Hong Kong Monetary Authority, Bank of China (Hong Kong), HSBC and Standard Chartered (Hong Kong).

Part of commercial banks in Hong Kong are listed below.

Macau

See main article: List of banks in Macau. The currency board and de facto central bank of Macau is the Monetary Authority of Macao.

Banknotes of the Macau pataca, the official currency of the Macau SAR, is issued by Banco da China, Sucursal de Macau and Banco Nacional Ultramarino.

Some commercial banks in Macau are listed below:

See also

External links

Notes and References

  1. Web site: Purposes and Functions . live . https://web.archive.org/web/20190212190741/http://www.pbc.gov.cn/en/3688066/3688080/index.html . 2019-02-12 . 2019-02-12 . People's Bank of China.
  2. Web site: About CDB . live . https://web.archive.org/web/20190213005525/http://www.cdb.com.cn/English/gykh_512/khjj/ . 2019-02-13 . 2019-02-12 . China Development Bank.
  3. Web site: 2016-03-24 . About Post Savings Bank of China . dead . https://web.archive.org/web/20190212190430/http://www.psbc.com/en/psbc/about/682.html . 2019-02-12 . 2019-02-12 . Post Savings Bank of China.
  4. Web site: About KLB . dead . https://web.archive.org/web/20180720060718/http://www.klb.cn/eklbank/921141/922134/922150/index.html . 2018-07-20 . 2018-07-25 . Bank of Kunlun.
  5. Web site: Hoi Shan Chan . 4 February 2018 . Chinese Central Bank Fines Bank of Lanzhou for Breach of Settlement Rules . https://web.archive.org/web/20210202195334/https://www.spglobal.com/marketintelligence/en/news-insights/trending/4iKWp_fVjumI1hKQ6Mr0BQ2 . 2021-02-02 . 2021-01-28 . S&P Global . en.
  6. Web site: Bank of Lanzhou . https://web.archive.org/web/20210201143602/https://www.cbinsights.com/company/bank-of-lanzhou . 2021-02-01 . 2021-01-28 . CB Insights . en.
  7. Web site: 2018-01-03 . Gānsù yínháng (2139.HK) IPO diǎnpíng: Gǎnggǔ 2018 yínháng IPO dì yī gǔ, qūyù lǐngxiān de guóyǒu chéng shāngháng . zh:甘肃银行(2139.HK)IPO点评:港股2018银行IPO第一股,区域领先的国有城商行 . dead . https://web.archive.org/web/20180105070205/http://www.cnfol.hk/news/gangguzx/20180103/25851321.shtml . 5 January 2018 . Zhōng jīn zàixiàn xiānggǎng . zh . zh:中金在线香港.
  8. Web site: The CBRC Gives Nod to Nine Foreign Banks on Preparing Local Incorporation . https://web.archive.org/web/20071007232108/http://www.cbrc.gov.cn/english/home/jsp/docView.jsp?docID=2928 . 2007-10-07 . China Banking Regulatory Commission.
  9. Web site: KU, Highland College Sponsor Business Seminar . dead . https://web.archive.org/web/20070927235235/http://www.financialrealtime.com/stocks/top-stories/financial-news602246.html;jsessionid=A48C9B767F04A11284723F05E5F15234 . 2007-09-27 . financialrealtime.com. Web site: China Approves Local Registration of 9 Foreign-Funded Banks . Ningbo Foreign Trade & Economic Cooperation Bureau . Xinhua . https://web.archive.org/web/20070929010938/http://www.nbfet.gov.cn/dwmy/detail.phtml?newId=4563&big5=0 . 2007-09-29 .
  10. News: 2006-12-26 . Jiǔ jiā wàizī yínháng shǒu pī huòzhǔn gǎizhì . zh:九家外資銀行首批獲准改制 . zh . Wen Wei Po . live . 2007-05-22 . https://web.archive.org/web/20090322165559/http://news.wenweipo.com/2006/12/26/IN0612260019.htm . 2009-03-22 . zh:文匯報.
  11. News: Li . Junling 李峻岭 . Xu . Haihui 徐海慧 . 2006-12-26 . Wàizī fǎrén yínháng luòhù Shànghǎi tūxiǎn jīnróng zhōngxīn jíjù xiàoyìng . zh:外资法人银行落户 上海凸显金融中心集聚效应 . zh . Xīnhuá wǎng . dead . 2007-05-22 . https://web.archive.org/web/20090322194831/http://news.xinhuanet.com/fortune/2006-12/26/content_5531713.htm . 2009-03-22 . zh:新华网.
  12. News: 2006-12-24 . 9 jiā wàizī yínháng shuàixiān huòzhǔn gǎizhì chóujiàn fǎrén yínháng . zh:9家外资银行率先获准改制筹建法人银行 . zh . Xīnhuá wǎng . dead . 2007-05-22 . https://web.archive.org/web/20070606034218/http://news.xinhuanet.com/fortune/2006-12/24/content_5526578.htm . 2007-06-06 . zh:新华网.