Which are the four major banks in China?

Banks are financial institutions established in accordance with the law to operate money and credit business. usually, the banks we refer to refer to commercial banks. The four major banks in China refer to the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank (Industrial, Rural, Central, Construction). It represents the strongest financial capital force in China. Let's take a look at the four major banks in China.

Industrial and Commercial Bank of China

Founded in 1984, Industrial and Commercial Bank of China, as one of the largest commercial banks in China by assets, has been one of the top 500 enterprises in the world for several years. After more than 20 years of reform and development, Industrial and Commercial Bank of China has stepped into the track of coordinated development of quality, benefit and scale.

◆ 2010 British "Banker" magazine ranked by tier one capital, Industrial and Commercial Bank of China ranked 16th in the "Top 1000 World Bank".

◆ in April 2013, Industrial and Commercial Bank of China overtook ExxonMobil to become the world's largest company on the Forbes 2013 Global 2000 list.

◆ in March 2015, Industrial and Commercial Bank of China made a net profit of 276.3 billion yuan in 2014, making it once again the most profitable bank.

◆ ranked 15th on the Fortune 500 list in July 2016.

Agricultural Bank of China

The Agricultural Bank of China is the first state-owned commercial bank established in New China, one of the commercial banks with the most abundant financial capital in China, and an important part of China's financial system, which was first established in 1951. The head office is located in Beijing, the eighth of the "Top 1000 World Bank" and Moody's credit rating of A1.

◆ in January 2009, the Agricultural Bank of China was transformed from a wholly state-owned commercial bank into a joint-stock commercial bank, changed its name to "Agricultural Bank of China Co., Ltd.", and completed the dual listing of "Agricultural Bank of China" in 2010, officially becoming a large listed bank. Agricultural Bank of China A + H-share IPO raised 22.1 billion US dollars globally, becoming the largest IPO in global history.

At the end of 2009, ◆ 's total assets were about 8.882588 trillion yuan, accounting for 11.3 percent of the country's total banking and financial assets. It is the largest and most powerful modern commercial bank in China, with deposits of about 7.497618 trillion yuan, loans of 4.138187 trillion yuan, capital adequacy ratio of 10.07 percent, non-performing loan ratio of 2.91 percent, and net profit of 65 billion yuan. The net profit growth rate ranks first among the four major banks.

◆ in March 2012, Banker magazine released the 2012 Top 500 Global Bank Brands list. Agricultural Bank of China ranked 18th in the world with a brand value of US $9.929 billion.

◆ in July 2016, Fortune released the latest ranking of the world's top 500, with the Agricultural Bank of China ranked 29th.

Bank of China

Bank of China is one of the oldest commercial banks in China, the full name of Bank of China Co., Ltd., is one of the four major state-owned commercial banks in the Chinese mainland region (excluding Hong Kong, Macao and Taiwan), ranking third in size. The Bank of China was established by order of President Sun Yat-sen on January 24, 1912 and officially opened on February 5, 1912. It was reorganized by the Household Bank established by the Qing government in 1905 (renamed Daqing Bank since 1908, responsible for rectifying the currency system, issuing currency, sorting out the national treasury, exercising the rights of the central bank).

◆ in July 2013, Banker magazine released its 2013 ranking of the world's top 1000 banks, ranking ninth, in line with the 2012 ranking.

◆ in November 2014, Bank of China signed an agreement with Commerzbank, the second largest bank in Germany, to provide RMB payments to customers directly from Frankfurt.

◆ in July 2016, Fortune released its latest list of the world's top 500 companies, with Bank of China ranked 35th. In August, Bank of China ranked eighth among the top 2016 Chinese enterprises.

China Construction Bank

China Construction Bank was established on October 1, 1954 (then known as the people's Construction Bank of China, and changed its name to China Construction Bank on March 26, 1996). The basic background of the establishment of the Construction Bank is that as the people's Republic of China began to implement the first five-year Plan for the development of the national economy, large-scale economic construction centered on the construction of 156 key projects has been carried out throughout the country, in order to manage a huge amount of construction funds, the Construction Bank came into being and began a hard and glorious process.

◆ May 2007, China Construction Bank was named "Top Ten most valuable Brands in China in 2007" by Hurun Brand list.

◆ released the list of Top 100 listed companies in China in July 2008. CCB ranked third, PetroChina and Industrial and Commercial Bank of China ranked first and second, respectively.

◆ in July 2010, CCB ranked third and ranked first among Chinese banks in the "Interbrand2010 Annual Best Chinese Brand value list" published by Forbes magazine.

◆ released the Forbes 2013 Global 2000 list in April 2013. China Construction Bank has become the second largest company in the world after the Industrial and Commercial Bank of China.