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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  • David

    I think Chinese netizens are pretty smart. If the U.S. government limited my country to like 10 banks, then all the assets in them would be concentrated also. From an economic point of view, this is NOT a good thing.

    • guest

      I am just wondering out of these top four which are state own.


      1. Commercial Bank of China (China)
      2. The China Construction Bank (China)
      3. Agricultural Bank of China (China)
      4. HSBC Bank (UK)
      5. The Bank of China (China)

      Yep, all are state own (all of them). I was once told, can’t say if its true or not, that Chinese people like to put their money into state own banks as if anything went wrong (bankruptcy etc)
      it would be covered by the government whereas with the others their not.

      • David

        Well, I was going to give people the benefit of the doubt and assume they knew these banks were all state owned but since you mention it I was always confused by that. I mean I guess on the one hand most don’t actually trust the government but on the other hand you hear about fake banks being set up and people losing all their money. whats a poor peasant (or rich corrupt bureaucrat) supposed to do?

      • takasar1

        Not anymore. Deposit insurance has recently been rolled out. Only protects around 90k worth. No more implicit guarantee

  • Foreign Devil

    The top bank ONLY has 3.4 billion in assets? Assuming they are only counting the value of the buildings and offices the bank are in that might make sense. . certainly must not be counting the money people deposit or the profit. Most major banks make billions in interest and service fees alone per year.

    • James

      no that must be an error.

  • China does not necessarily need to beat the West militarily, it simply needs to defeat America and its allies economically to reign supreme as the next world power.

  • narsfweasels

    “Run” is not the word I would use. Americans run banks, Brits run banks, Germans run banks, Japanese run banks, Hong Kongese run banks…

    …the French and the Chinese walk their banks.

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