11 financial institutions in china

FinancialinstitutionsinChinaPBCDepositorybanksPolicybanksNon-bankfinancialinstitutionsForeigninstitutionsBankingsectorinChinaThePeople'sBankofChina(PBCorPBOC)isthecentralbankofthePeople'sRepublicofChinawiththepowertocontrolmonetarypolicyandregulatefinancialinstitutionsinmainlandChina.ThePeople'sBankofChinahasthemostfinancialassetsofanysinglepublicfinanceinstitutionever.ThebankwasestablishedonDecember1,1948,basedontheconsolidationoftheHuabeiBank,theBeihaiBankandtheXibeiFarmerBank.TheheadquarterswasfirstlocatedinShijiazhuang,Hebei,andthenmovedtoBeijingin1949.Between1950and1978thePBCwastheonlybankinthePeople'sRepublicofChinaandwasresponsibleforbothcentralbankingandcommercialbankingoperations.AllotherbankswithinMainlandChinasuchastheBankofChinawereeitherorganizedasdivisionsofthePBCorwerenon-deposittakingagencies.Inthe1980s,aspartofeconomicreform,thecommercialbankingfunctionsofthePBCweresplitoffintofourindependentbutstate-ownedbanksandin1983,theStateCouncilpromulgatedthatthePBCwouldfunctionasthecentralbankofChina.Mr.ChenYuanwasinstrumentalinmodernizingthebankintheearly1990s.ItscentralbankstatuswaslegallyconfirmedonMarch18,1995bythe3rdPlenumofthe8thNationalPeople'sCongress.In1998,thePBCunderwentamajorrestructuring.Allprovincialandlocalbrancheswereabolished,andthePBCopenednineregionalbranches,whoseboundariesdidnotcorrespondtolocaladministrativeboundaries.In2003,theStandingCommitteeoftheTenthNationalPeople'sCongressapprovedanamendmentlawforstrengtheningtheroleofPBCinthemakingandimplementationofmonetarypolicyforsafeguardingtheoverallfinancialstabilityandprovisionoffinancialservices.Althoughstatedintheabovesection,thatthePeople'sBankofChina,(PBC),isthesinglelargestfinancialinstitutionintheworld,PBCisinfactthelargestcentralbankatUS$3.201trillion.DepositoryinstitutionsLarge-scaleshare-holdingcommercialbanksJoint-equitycommercialbanksandcitycommercialbanksRuralbanksPostalSavingsBankofChinaAgriculturalBankofChinaAgriculturalBankofChinaLimited,isoneoftheBigFourbanksinthePeople'sRepublicofChina.Itwasfoundedin1951,andhasitsheadquartersinBeijing.IthasbranchesthroughoutmainlandChina,HongKong,London,Tokyo,NewYork,Frankfurt,Sydney,Seoul,andSingapore.ABChas320millionretailcustomers,2.7millioncorporateclients,andnearly24,000branches.ItisChina'sthirdlargestlenderbyassets.ABCwentpublicinmid-2010,fetchingtheworld'sbiggesteverinitialpublicoffering(IPO).[2]Asof2011,itranks8thamongtheTop1000WorldBanks,[3]meanwhileForbesGlobal2000nameditthe25th-largestpubliccompanyintheworld.PolicybanksTheStateDevelopmentBankTheAgriculturalDevelopmentBankofChinaTheExportandImportBankofChinaTheChinaDevelopmentBankTheChinaDevelopmentBankisafinancialinstitutioninthePeople'sRepublicofChina(PRC)ledbyacabinetministerlevelGovernor,underthedirectjurisdictionoftheStateCouncil.AsoneofthreepolicybanksofthePRC,itisprimarilyresponsibleforraisingfundingforlargeinfrastructureprojects,includingmostofthefundingfortheThreeGorgesDamandShanghaiPudongInternationalAirport.EstablishedbythePolicyBanksLawof1994,thebankisdescribedastheenginethatpowersthenationalgovernment’seconomicdevelopmentpolicies.DebtsissuedbyCDBarefullyguaranteedbythecentralgovernmentofthePeople'sRepublicofChina.Thebankisthesecond-biggestbondissuerinChinaaftertheMinistryofFinancein2009,accountingforaboutaquarterofthecountry’syuanbonds,andthebiggestforeign-currencylender.TheAgriculturalDevelopmentBankofChinaTheAgriculturalDevelopmentBankofChinaisaChinesePolicyBankunderthePeople'sCentralBankofChina(PBOC).Assuch,isresponsibleforfundingprojectsrelatedtoChina'seconomicgrowth.IftheADBCrequiresfundingforitsownoperations,itsbondsareconsideredassafeastheCentralBank'sbonds,sinceitisfullybankedbythePBOC.TheExportandImportBankofChinaTheExport-ImportBankofisoneofthreeinstitutionalbanksinChinacharteredtoimplementthestatepoliciesinindustry,foreigntrade,diplomacy,economy,andprovidepolicyfinancialsupportsoastopromotetheexportofChineseproductsandservices.Establishedin1994,thebankissubordinatedtotheStateCouncil.Non-bankfinancialinstitutionsInsurancecompaniesTrustandinvestmentcompaniesSecuritiessectorFinancialleasingcompaniesAssetManagementCompaniesSecuritiesInvestmentFundsForeignbankinginstitutionsinChina