List of Top Private Banks In China

A list of banks in China includes all Islamic banks, commercial banks, private banks, local banks, domestic banks, foreign banks, and financial institutions.

China is one of the most highly developed Asian countries in the world. The country became extremely advanced with technologies industries, modernization, and the development of energy systems

Here are all the Chinese banks are mentioned below with brief descriptions.

Table of Contents

About banks in China

Banks in China play a crucial role in the country’s financial system and economic development. There are four types of banks in China: policy banks, state-owned commercial banks, joint-stock commercial banks, and rural credit cooperatives.

Policy banks in China are financial institutions that are owned and controlled by the government. These banks are responsible for implementing government policies and providing financing for large-scale infrastructure projects, such as transportation, energy, and telecommunications. The three main policy banks in China are the China Development Bank, the Agricultural Development Bank of China, and the Export-Import Bank of China.

State-owned commercial banks are the largest banks in China and are also controlled by the government. These banks provide a wide range of financial services, including corporate banking, retail banking, wealth management, and investment banking. The four largest state-owned commercial banks in China are the Industrial and Commercial Bank of China (ICBC), China Construction Bank, Bank of China, and Agricultural Bank of China.

Joint-stock commercial banks are publicly traded companies that are partially owned by the government and other investors. These banks also provide a wide range of financial services and operate similarly to state-owned commercial banks. The largest joint-stock commercial bank in China is the China Merchants Bank.

Rural credit cooperatives are small banks that provide financial services to rural areas and agricultural communities in China. These banks are owned and controlled by their members and provide loans and other financial services to farmers and rural businesses.

In recent years, China’s banking industry has undergone significant reforms aimed at improving its efficiency and transparency. These reforms have included measures to strengthen regulation, increase competition, and reduce the dominance of state-owned banks. Additionally, the Chinese government has taken steps to liberalize its financial sector, including allowing foreign banks to establish subsidiaries in China and easing restrictions on cross-border capital flows.

Overall, banks in China play a crucial role in the country’s economic development and financial stability. As the country continues to grow and modernize, the banking industry is expected to play an increasingly important role in supporting China’s economic growth and global influence.

Central Bank In China

People’s Bank of China – People’s Bank of China is the central bank of China which is located in Beijing and founded in 1948. The bank is owned by the State Council of the People’s Republic of China and the currency is the Renminbi. It provides services in the mainland China such as:

resposible for regulating monetary policy
operating all financial institutions
acting as a core bank for all the banks
determinning by the People’s Law and Commercial Law

Big Four Banks in China

There are 4 major banks which are not only state owned biggest bank in China but also in the world.

Industrial and Commercial Bank of China

Industrial and Commercial Bank of China is a multinational bank that is owned 70% by the Chinese government. The bank is also considered one of the largest banks in the world.

China Construction Bank

China Construction Bank is one of the largest banks in China that is also the second largest bank in the world. The Government owned bank was established in 1954.

Bank of China

Bank of China is a major commercial bank in China that is the fourth largest bank in the world. It is under control by the government of China and serving people since 1912.

Agricultural Bank of China

Agricultural Bank of China is one of the big four banks in China that has several branches around the world. The bank serves with finance and insurance, consumer banking, corporate banking, etc.

Top Private Banks In China

Here are the top national and privately owned banks in China given below.

Agricultural Development Bank of China – Agricultural Development Bank of China is a Chinese policy bank which manages functions that is related to Chinese economical growth since 1994.
Bank of Communications – Bank of Communications is a Shanghai based multinational bank that provides a different range of financial services to the customers globally since 1908.
Postal Savings Bank of China – Postal Savings Bank of China is a commercial retail bank that provides financial services to the small , rural and medium enterprise in China.
China Merchants Bank – China Merchants Bank is a national bank that offers services personal banking business, corporate and business banking globally.
Shanghai Pudong Development Bank – Shanghai Pudong Development Bank is a Chinese bank that focused on the development of social and economical steps wholly.
Industrial Bank – Industrial Bank is a leading public bank that has services and business such as personal banking, corporate banking, institution banking widely.
China CITIC Bank – China CITIC Bank is a commercial bank in China that has around 163 branches in the mainland and offers personal and corporate banking.
China Minsheng Bank – China Minsheng Bank is a privately owned bank that provides loans and financial services to the medium enterprises in China.
China Everbright Bank – China Everbright Bank is a commercial bank that has services of retail and corporate banking and started its work 1992.
China Bohai Bank – China Bohai Bank is a state-owned bank that is based in Tianjin started in 2005 and varities services for customers .
Bank of Beijing – Bank of Beijing is an urban retail bank that is located in Beijing and has numerous branches China, Hong Kong and Netherlands.
Xiamen International Bank – Xiamen International Bank is an international bank that delivers banking services in China, Macau, and Hong Kong.
Tai’an Bank – Tai’an Bank is a commercial bank among Chinese banks mainly serves investment, financing, loans, and more.
Harbin Bank – Harbin Bank is a Chinese city bank that is based in Harbin and serving retail banking and corporate banking to customers.
WeBank – WeBank is the first private bank and internet bank in China that was established in 2014 in Shenzhen.
MYbank – MYbank is an internet bank that is affiliated with ant financial group founded by Jack Ma since 2014.

Chinese Commercial Banks

There are multiple commercial banks in the special administrative regions in China including Hong Kong, Macau.

Bank of China (Hong Kong) Limited – Bank of China Limited is one of the largest Chinese banks in China that offers private banking, credit cards, finance, etc.
China Construction Bank (Asia) Corporation Limited – China Construction Bank Corporation Limited is a commercial bank in Hong Kong that is under control by China Construction Bank.
Chiyu Banking Corporation Limited – Chiyu Banking Corporation Limited is a privately owned bank in Hong Kong that is operated by Xiamen International Bank.
Chong Hing Bank Limited – Chong Hing Bank Limited is a private Chinese bank that has several branches in Hong Kong, and San Francisco.
Citibank (Hong Kong) Limited – Citibank Limited is a popular private bank that serves Hong Kong since 1902 with financing services.
CITIC Ka Wah Bank – CITIC Ka Wah Bank is a privately owned chinese bank that has multiple branches in Hong Kong.
Dah Sing Bank Limited – Dah Sing Bank Limited is a Hong Kong based private bank that is located in Wan Chai and founded in 1947.
DBS Bank – DBS Bank is one of the largest banks in Hong Kong which is a subsidiary of Singaporean DBS Bank.
Hang Seng Bank Ltd. – Hang Seng Bank Ltd. is a Hong Kong based leading bank that has services like retail banking, treasury services, etc.
Nanyang Commercial Bank Limited – Nanyang Commercial Bank Limited is a private bank in Hong Kong owned by China Cinda Asset Management.
OCBC Wing Hang Bank Limited – OCBC Wing Hang Bank Limited is a licensed bank in HongKong that has nearly 70 branches in the island.
Shanghai Commercial Bank – Shanghai Commercial Bank is an international bank that serves Hong Kong people since 1915.
Wing Lung Bank – Wing Lung Bank is a commercial bank based in Hong Kong which has several branches in China, Macau, etc.
Banco Nacional Ultramarino – Banco Nacional Ultramarino is a Macau-based commercial bank that delivers personal banking, credit cards, banknotes, etc.

Chinese Foreign Banks

In China, there are many foreign bank branches and subsidiary banks to serve the nation.

ABN AMRO – ABN AMRO is one of the largest banks in Netherlands started in 1991 and has service availability in China.
Australia and New Zealand Banking Group – Australia and New Zealand Banking Group is an Australia second-largest multinational bank & has branches in China.
Banco Santander – Banco Santander is a Spain based multinational bank that has services system among banks in China.
Bank Mandiri – Bank Mandiri is one of the largest bank in Indonesia that has almost 2511 branches around the world.
Bank of America Merrill Lynch – Bank of America Merrill Lynch is a multinational bank that is based in America and founded in 2009.
Bank of Montreal – Bank of Montreal is a multinational bank in Canada that provides banking services among banks in China.
Bank of New York Mellon – Bank of New York Mellon is an America-based investment bank that serves globally.
Barclays Bank – Barclays Bank is a British multinational bank based in London founded in 1690 serving in more than 40 countries.
BBVA Bank – BBVA Bank is one of the largest financial institutions that is originated in Spain.
BNP Paribas – BNP Paribas is a France-based international bank and financial service founded in 1848 & available in China.
Citibank – Citibank is a United States-based international bank that is one of the first foreign banks in China.
Commerzbank – Commerzbank is a multinational bank in Germany and a leading bank in China.
Crédit Agricole – Credit Agricole is an investment bank that is established in France in 2004 and serves globally.
Credit Suisse – Credit Suisse is a multinational & investment bank that is established in Switzerland and popular among banks in China.
DBS Bank – DBS Bank is an international bank that is originated from Singapore with branch in China.
Deutsche Bank – Deutsche Bank is one of the largest commercial banks of German internationally founded in 1869.
Hana Bank -Hana Bank is a South Korea based financial instituation that provides foreign exchanging products services.
Intesa Sanpaolo – Intesa Sanpaolo is one of the largest Italian banks that was established in 2007.
JPMorgan Chase Bank -JPMoragan Chase Bank is a multinational investment bank of America and foreign financial company in China.
KASIKORNBANK -KASIKORNBANK is a Thailand based internaitonal bank that started its functions in 1945.
KBC Bank – KBC Bank is a multinational bank that is located in Belgium and has products for international customers.
Mizuho Corporate Bank – Mizuho Corporate Bank is a commercial bank based in Japan and also has branches in China.
National Australia Bank – National Australia Bank is one of the four largest financial institution based in Australia.
Norddeutsche Landesbank – Norddeutsche Landesbank is one of the biggest banking service in Germany available globally.
Oversea-Chinese Banking Corporation – Oversea-Chinese Banking Corporation is a multinational bank that is originated from Singapore.
Rabobank – Rabobank is a international bank & financial services of Netherlands focused on food and agriculture.
Raiffeisen Bank International – Raiffeisen Bank is an Austrian major regional bank that provides retail and corporate banking.
Scotiabank – Scotiabank is a popular Canadian bank that provides different services for customers in China.
Shinhan Bank – Sinhan Bank is the first commercial bank in South Korea established as a small enterprise including branch in China.
Societe Generale – Societe Generale is a commercial and multinational bank founded in 1864 in Paris and based in France.
SPD Silicon Valley Bank – SPD Silicon Valley Bank is one of the largest banks in America that has products serving multinationally.
Standard Chartered Bank – Standard Chartered Bank is one of the most recognized banks that is located in United Kingdom.
The Bank of East Asia – The Bank of East Asia is the largest independent financial institution in Hong Kong.
The Bank of Tokyo-Mitsubishi UFJ – The Bank of Tokyo-Mitsubishi UFJ is one of the megabanks in Japan founded in 2006.
The Hongkong and Shanghai Banking Corporation – The Hongkong and Shanghai Banking Corporation
UBS – UBS is the largest private & multinational bank in the world that is originated from Switzerland started in 1862.
United Overseas Bank – United Overseas Bank is an international bank based in Singapore that has several branches in China .
Wells Fargo Bank – Wells Fargo Bank is an influential international bank established in California in 1929.
Westpac Bank – Westpac Bank is an Australian mega multinational and the oldest financial company that has branches in China.
Woori Bank – Woori Bank is one of the largest banks in Korea which also serves internationally since 1899.

Frequently Asked Questions:

1. What are the big 4 banks in China?

The big four banks in China are the Industrial & Commercial Bank of China, the China Construction Bank, the Agricultural Bank of China, and the Bank of China.

2. What is China’s biggest bank?

The Industrial & Commercial Bank of China is not only the biggest bank in China but also in the world.

3. Which bank is best in China?

There are the best service providers in China according to the customer’s choice. Among them is the Industrial & Commercial Bank of China, the China Construction Bank, the Agricultural Bank of China, etc.

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