Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, and Bank of Communications are some of the major banks in China. According to Statista, China has over 4,500 banks in the country, including mainland China, Hong Kong, and Macau.
We provide a list of major banks in China, including their key features and services. We also discuss foreign banks operating in China and provide links to Chinese banks and banking resources in China. Whether you are a business owner or an individual looking to open an account in China, this article will provide you with a comprehensive list of banks to choose from.
Biggest Banks In China
Some of the biggest banks in China include Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, and China Construction Bank. These are just a few of the major players in China’s banking industry, which has over 4,500 banks in total.
China is home to numerous banks that provide a range of financial services to individuals and businesses. Among these banks are some of the largest financial institutions in the world. These banks have a significant impact on the global economy and are responsible for providing financial aid to businesses from various industries.
Industrial And Commercial Bank Of China (icbc)
The Industrial and Commercial Bank of China is the largest bank in China and the largest bank in the world by total assets. It was established in 1984 and its headquarters are located in Beijing. ICBC provides a wide range of services, including personal banking, corporate banking, investment banking, and asset management. As of 2020, ICBC has over 18,000 branches worldwide and over 500 million customers.
China Construction Bank (ccb)
The China Construction Bank was established in 1954 and is headquartered in Beijing. It is the second-largest bank in China and the eighth largest bank in the world by total assets. The bank provides a wide range of financial services, including personal banking, corporate banking, and investment banking. CCB currently operates in over 30 countries and has over 13,000 branches worldwide.
Agricultural Bank Of China (abc)
The Agricultural Bank of China is the third-largest bank in China and the 10th largest bank in the world by total assets. It was established in 1951 and its headquarters are located in Beijing. The bank provides services to over 30 million customers and has over 24,000 branches worldwide. ABC provides a range of services, including personal banking, corporate banking, and investment banking.
Bank Of China (boc)
The Bank of China is one of the oldest and largest banks in China. It was established in 1912 and is headquartered in Beijing. BOC provides a wide range of services, including personal banking, corporate banking, and investment banking. The bank has a presence in over 50 countries and operates over 10,000 branches worldwide. In conclusion, these banks have played and continue to play a significant role in the growth and development of China’s economy. Their global presence and range of services make them a popular choice for businesses and individuals looking for financial support.
National Banks
China has a vast number of national banks, including Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, and more. These banks, along with foreign banks like Citibank and Bank of America Merrill Lynch, operate in Mainland China, Hong Kong, and Macau.
National Banks are some of the most established banks in China, with a history stretching back decades. These banks act as an important backbone of the country’s financial system, facilitating funding for different sectors and ensuring the economy remains stable. There are several national banks in China, including the China Development Bank, Export-Import Bank of China, and Agricultural Development Bank of China. In this article, we will explore these national banks and how they contribute to the Chinese economy.
China Development Bank
The China Development Bank (CDB) was established in 1994 as a policy bank under the direct jurisdiction of the State Council. Its primary function is to promote the national economic and social development by facilitating the country’s infrastructure construction and encouraging technological innovation. The CDB has also become an important vehicle for China’s overseas investment and foreign trade. As of 2020, the bank’s total assets amounted to CNY 18.2 trillion, making it one of the largest banks in China.
Export-import Bank Of China
The Export-Import Bank of China (Exim Bank) is a state-owned policy bank that provides financial support to Chinese firms engaged in foreign trade. It was established in 1994 and is under the direct leadership of the State Council. The bank’s main objective is to provide export credit, investment insurance, and development finance to promote China’s foreign trade and economic cooperation. By the end of 2020, the Exim Bank’s total assets amounted to CNY 4.8 trillion.
Agricultural Development Bank Of China
The Agricultural Development Bank of China (ADBC) is a policy bank established in 1994 under the direct leadership of the State Council. The ADBC’s primary function is to support China’s social and economic development by providing financial services to the agricultural sector. The bank’s services include loans for rural infrastructure projects, agricultural production, and rural household renovation. As of 2020, the bank’s total assets amounted to CNY 4.1 trillion. In conclusion, National Banks hold a significant position in the Chinese financial system, promoting investment and boosting economic growth. Among the national banks in China, China Development Bank, Export-Import Bank of China, and Agricultural Development Bank of China are notable players, using their policy bank status to support sectors of the economy that are crucial to China’s development.
Regional Banks
China has numerous banks including Bank of China, China Construction Bank, Agricultural Bank of China and Industrial and Commercial Bank of China. There are also foreign banks such as Citibank, Bank of America Merrill Lynch and JPMorgan Chase Bank operating within China.
China has a vast selection of banks serving its citizens, from the large national banks to the local banks scattered throughout the country. Regional banks in China have been gaining popularity due to their accessibility and specialized services that cater to the needs of the communities they serve. In this article, we will focus on some of the notable regional banks operating in China, such as the Bank of Beijing, Bank of Shanghai, Bank of Nanjing, Bank of Hangzhou, and Bank of Chongqing.
Bank Of Beijing
The Bank of Beijing is a regional commercial bank based in Beijing, China. As of 2021, it has over 281 branches in Beijing and other parts of China. It aims to provide a wide range of commercial banking products and services to its customers. The bank has been awarded multiple times for its excellent financial performance and customer service.
Bank Of Shanghai
Bank of Shanghai is a regional commercial bank based in Shanghai, China. It is one of the largest banks in Shanghai, with over 349 branches and outlets nationwide. The bank focuses on providing a broad range of financial products and services to meet the diverse needs of its customers.
Bank Of Nanjing
Bank of Nanjing is a regional commercial bank headquartered in Nanjing, China. It is a subsidiary of the Bank of Communications and operates throughout China. The bank provides various financial services, including personal and commercial deposits, loans, and investment products.
Bank Of Hangzhou
Bank of Hangzhou is a regional commercial bank headquartered in Hangzhou, China. It has been operating for over 20 years, providing comprehensive financial products and services to individuals and corporate customers. The bank currently has over 110 branches across the country.
Bank Of Chongqing
Bank of Chongqing is a regional commercial bank headquartered in Chongqing, China. It operates across different provinces and cities in China, providing services such as personal and commercial banking, as well as wealth management. The bank has received numerous awards for its excellent customer service and performance. In conclusion, Chinese regional banks can be a great alternative for those who are looking for customized and localized financial services. With its accessible and tailored services, regional banks cater to the specific needs of people living in the regions they serve. These five regional banks are only a few of the numerous banks operating in China, proving the vast selection of financial institutions available to its citizens.
Foreign Banks In China
China has a wide range of banks, including foreign banks like Citibank, Bank of America Merrill Lynch, and BNY Mellon among others. The list of banks in China also includes Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, and China Construction Bank, among others.
Foreign Banks in China China’s banking system is growing stronger each year, and foreign banks are playing a crucial role in this growth. Today, foreign banks in China are playing an increasingly important role, providing valuable financial services to both domestic and international customers. In this section, we will take a closer look at some of the major foreign banks operating in China including HSBC China, Standard Chartered China, Citibank China, and DBS China. HSBC China HSBC China is the largest foreign bank in China, offering a comprehensive range of financial services in the country. The bank has a strong network of branches and offices in China and has been operating in China since 1865.
HSBC China
Hsbc China offers various personal and corporate banking solutions, including wealth management, loans, insurance, and other financial products. Standard Chartered China Standard Chartered China is another significant foreign bank in China. The bank offers a plethora of financial products, including savings accounts, current accounts, credit cards, loans, and insurance products. Standard Chartered China has a network of branches and ATMs throughout the country and operates in various cities, including Beijing, Shanghai, Guangzhou, and Shenzhen. Citibank China Citibank China provides a full range of banking products and services for both individuals and businesses.
The bank offers various services, including loans, credit cards, mortgages, savings accounts, and corporate banking solutions. Citibank China has a strong presence in China, with branches in major cities such as Beijing, Shanghai, and Guangzhou. DBS China DBS China is another foreign bank that has established its presence in China and offers both corporate and retail banking solutions, including personal loans, business loans, savings accounts, and credit cards. DBS China’s presence spans across many cities, including Beijing, Shanghai, Guangzhou, and Shenzhen. In conclusion, foreign banks in China play a huge role in China’s banking industry, offering invaluable services to both domestic and international customers. HSBC China, Standard Chartered China, Citibank China, and DBS China are some of the most significant foreign banks that have established a strong presence in China, providing their customers with a comprehensive range of financial services.
Online-only Banks In China
China has a variety of banks to choose from, including online-only banks. Some of the most well-known traditional banks in the country include the Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, and China Construction Bank.
Online-Only Banks in China With the rapid advancements in technology, it’s no surprise that the banking industry has also experienced significant changes. Today, you don’t have to physically visit a bank to open an account or conduct transactions. There are several online-only banks in China that offer customers the convenience of banking from the comfort of their homes or offices. Here are some of the most popular online-only banks in China:
Webank
Established in 2014 by Tencent, WeBank is the first online-only bank in China. The bank operates without any physical branches and offers a range of services, including loans, deposits and wealth management products.
Mybank
MYbank, founded in 2015 by Alibaba Group’s Ant Financial, is another popular online-only bank in China. The bank focuses on serving small and micro enterprises, and offers services such as credit loans, online deposits, and supply chain finance.
Aibank
AiBank is a subsidiary of China CITIC Bank, one of China’s largest banks. The online-only bank was launched in 2017 and targets tech-savvy customers who are comfortable conducting their banking transactions online. AiBank offers a range of products such as personal loans and credit cards.
Xwbank
XWbank, established in 2018, is a joint venture between China Guangfa Bank and JD Finance. The bank offers a range of services, including personal loans, credit cards, deposits and wealth management products. In conclusion, these online-only banks are changing the banking landscape in China and attracting customers with their convenient and efficient services. With several other new online-only banks expected to enter the market in the coming years, it will be interesting to see how this sector continues to evolve and grow.
Conclusion
The banking industry in China continues to grow rapidly, with multiple domestic and foreign banks operating in the country. This list of banks in China provides useful information for those seeking to do business in China or looking for options to open a bank account.
As the fourth largest banking system in the world, China’s banking sector offers a wide range of services for customers. Additionally, this list shows that the top players in China’s banking industry are predominantly state-owned banks, reflecting the country’s economic and political system.