BANKING AFFAIRS

Detailed explanation-1: -The “big four/five” state-owned commercial banks are the Bank of China, the China Construction Bank, the Industrial and Commercial Bank of China, and the Agricultural Bank of China, all of which are among the largest banks in the world as of 2018. The Bank of Communications is sometimes included.

Detailed explanation-2: -Biggest commercial banks in China Industrial and Commercial Bank of China (ICBC): The largest bank in China by assets, and one of the largest banks in the world. China Construction Bank: The second-largest bank in China by assets.

Detailed explanation-3: -In addition, the government is the sole owner of the three policy banks and has controlling stakes in a number of smaller commercial banks. As majority owner, the Chinese Government appoints the senior management of these banks.