Generally, there are 4 major banks that have high ranks in from locals’ perspectives, namely, Bank of China (BOC), Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB) and Agricultural Bank of China (ABC). These four banks have taken a large account in the banking market, but you can also choose other banks you like, such as Bank of Beijing etc. or foreign banks like HSBC etc.
Bank of China was formally established in February 1912 following the approval of Dr. Sun Yat-sen. From 1912 to 1949, the Bank served consecutively as the country's central bank, international exchange bank and specialized international trade bank. As China's most international and diversified bank, the Bank provides a comprehensive range of financial services to customers across the Chinese mainland, Hong Kong, Macau, Taiwan and 37 countries. Bank of China has upheld the spirit of “pursuing excellence” throughout its hundred-year history. With adoration of the nation in its soul, integrity as its backbone, reform and innovation as its path forward and “people first” as its guiding principle, the Bank has built up an excellent brand image that is widely recognized within the industry and by its customers.
ICBC was founded in 1984. As the largest commercial bank in China, it has successfully stepped on the right track of a balance development between quality and scale. According to the British magazine “The Banker”, ICBC was listed as the No.16 among 1,000 banks worldwide. Moreover, it has been among the global Fortune 500 companies due to American magazine “Fortune”.
CCB was established in 1954. Over more than 50 years of reform and development, CCB has built up the competitiveness in both the Chinese and international markets. CCB has 15401 business outlets inside and outside China including 6 overseas branches and 2 overseas representative offices and altogether 263,000 full-time staff. In addition to controlling 100% of equity of Jian Sing Bank Limited, CCB holds 43.35% of interest in China International Capital Corporation Limited and 75.1% of shares in Sino-German Bausparkasse.
Agricultural Bank of China Limited (ABC) is one of the top four commercial banks in China. In 2010, the bank was ranked 141 in the Fortune 500, and 14th, by pre-tax profit, amongst global banks, in the UK magazine The Banker. ABC has an A1 (Stable) long term credit rating from Moody's. The Bank had 23,472 domestic branch outlets, including the Head Office, the Business Department of the Head Office, three specialized institutions managed by the Head Office and other branches in different tiers.
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