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CNN: Four of the Five World’s Biggest Banks Are Run by China

CNN- Four of the Five World’s Biggest Banks Are Run by China

CNN released a report recently which ranked the world’s largest 100 banks in terms of total USD assets, and it revealed that four of the top five were Chinese. The Industrial & Commercial Bank of China took the top spot, with total assets valued at $3.452 billion. HSBC Holdings Plc, the only non-Chinese bank in the top five, ranked fourth. The rankings show a significant change from just a few years ago when only two Chinese banks held the top spots. Many netizens felt that the list merely reflected how much Chinese citizens were being fleeced by their banks.


Source: Netease

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