Top 12 Largest Financial Service Companies in China

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The financial service companies play a significant role in China's economy, contributing to its overall vitality. Banks, insurance firms, and other financial ... read more...

  1. Top 1

    ICBC

    Chinese transnational bank Industrial and Commercial Bank of China Ltd. ICBC is a state-owned commercial bank that was established on January 1st, 1984, as a limited company. The bank's Tier 1 capital in 2013 was the largest of 1,000 worldwide banks thanks to funding from the Chinese Ministry of Finance, making it the first bank with its headquarters in China to hold this distinction in modern times.


    ICBC was subsequently ranked first in The Banker's Top 1000 World Banks ranking every year since 2012 and first (2019) on the Forbes Global 2000 list of the largest public companies in the world. ICBC was ranked as the largest bank in the world in 2017 and 2018, by total assets (as of December 31, 2020, US$4.324 trillion). ICBC is also regarded as one of the most profitable businesses in the world, ranking fourth, according to Forbes. The Financial Stability Board views this bank as one of systemic importance.


    Founded: 1984
    Headquarters: Beijing, China
    Website: www.icbc-ltd.com/icbcltd/en

    Screenshot via 	www.icbc-ltd.com/icbcltd/en
    Screenshot via www.icbc-ltd.com/icbcltd/en
    Screenshot via	www.icbc-ltd.com/icbcltd/en
    Screenshot via www.icbc-ltd.com/icbcltd/en

  2. Top 2

    China Construction Bank

    Of China's "big four" banks, China Construction Bank Corporation (CCB) is one of them. By market capitalization, CCB was the second-largest bank and sixth-largest firm in the world in 2015. There are roughly 13,629 domestic branches for the bank.


    Furthermore, it operates wholly owned subsidiaries in London, Barcelona, Frankfurt, Luxembourg, Hong Kong, Johannesburg, New York City, Seoul, Singapore, Tokyo, Melbourne, Kuala Lumpur, Santiago de Chile, Brisbane, Sydney, and Auckland, in addition to overseas branches in each of those cities. The Financial Stability Board classifies it as a systemically important bank due to its total assets of CN $8.7 trillion in 2009. Its main office is in Beijing's Xicheng District.


    China Construction Bank's market cap as of April 2023 is $167.32 billion. By market cap, this places China Construction Bank as the 63rd most valuable corporation in the entire globe. The most recent financial reports from China Construction Bank show that the company's current revenue (TTM) is $125.47 billion. The corporation generated $127.14 billion in revenue in 2021, a rise from $109.77 billion in revenue in 2020.


    Founded: 1 October 1954
    Headquarters: Beijing, China
    Website: ccb.com

    Screenshot via 	ccb.com
    Screenshot via ccb.com
    Screenshot via 	ccb.com
    Screenshot via ccb.com
  3. Top 3

    Agricultural Bank of China

    The "Big Four" banks in China are the Agricultural Bank of China (ABC), often known as AgBank. It was established on July 10, 1951, and is based in Beijing's Dongcheng District. It has locations in Hong Kong, London, Tokyo, New York, Frankfurt, Sydney, Seoul, and Singapore, in addition to mainland China.

    ABC
    has almost 24,000 branches, 320 million retail consumers, and 2.7 million corporate clients. By assets, it is the third-largest lender in China. When ABC went public in the middle of 2010, it raised the most money in a single initial public offering (IPO) in history. Saudi Aramco has subsequently surpassed ABC in terms of IPO size. It was placed eighth among the Top 1000 World Banks in 2011, third on Forbes' 13th annual Global 2000 list in 2015, and fifth in 2017 among all banks. The Financial Stability Board views this bank as one of systemic importance.


    The market capitalization of the Agricultural Bank of China as of April 2023 was $158.55 billion. By market cap, this places the Agricultural Bank of China as the 67th most valuable firm in the entire world. The most recent financial reports from the Agricultural Bank of China show that the company's current revenue (TTM) is $111.84 billion. The corporation generated $111.19 billion in revenue in 2021, a rise from $95.58 billion in revenue in 2020.


    Founded: 10 July 1951
    Headquarters: Beijing, China
    Website: abchina.com

    Screenshot via 	abchina.com
    Screenshot via abchina.com
    Screenshot via 	abchina.com
    Screenshot via abchina.com
  4. Top 4

    Bank of China

    The fourth-largest bank in the world, Bank of China, is a mainly Chinese state-owned commercial bank with its headquarters in Beijing. The Ta-Ching Government Bank of the Qing Dynasty was replaced by the Bank of China, which was established in 1912 by the Republican government to serve as China's central bank. Since the 1908 founding of the Bank of Communications, it has been China's second-oldest bank still in operation.


    It was one of the "Big Four" banks of the era, along with the Farmers Bank of China, Bank of Communications, and Central Bank of the Republic of China, that printed banknotes on behalf of the government from its founding until 1942. The People's Republic was founded in 1949, and since then it has developed into a nationwide professional commercial and foreign exchange bank. The newly established People's Bank of China maintained its initial designation as the country's central bank.


    The market capitalization of the Bank of China was $138.73 billion as of April 2023. By market cap, this places Bank of China as the 86th most valuable firm in the entire globe. The most recent financial reports from the Bank of China indicate that the company's current revenue (TTM) is $93.10 billion. The corporation generated $93.37 billion in revenue in 2021, a rise from $82.23 billion in revenue in 2020.


    Founded: 1912
    Headquarters: Beijing, China

    Website: boc.cn

    Screenshot via boc.cn
    Screenshot via boc.cn
    Screenshot via boc.cn
    Screenshot via boc.cn
  5. Top 5

    CM Bank

    China Merchants Bank (CMB) is a Chinese bank with its headquarters in Shenzhen, Guangdong, China's Futian District. It was established in 1987 and is the country's first share-holding commercial bank that is entirely owned by corporate legal entities.

    CMB
    has one branch in Hong Kong and more than 500 locations on the Chinese mainland. It received a federal license to establish a branch in New York City in November 2007 as part of a strategy for international expansion. Early in the new millennium, the city began to modernize and grow. The Shenzhen Citizen's Center, the core building, and the central city layout were also created by architects Lee and Timchula.


    The market capitalization of CM Bank was $124.53 billion as of April 2023. By market cap, this places CM Bank as the 98th most valuable corporation in the entire world. The most recent financial reports from CM Bank indicate that the company's current revenue (TTM) is $50.54 billion. The corporation generated $50.23 billion in revenue in 2021, an increase above the $41.62 billion it generated in revenue in 2020.


    Founded: 1987
    Headquarters: China Merchants Bank Tower, Futian District, Shenzhen, Guangdong, China
    Website: https://www.cmbchina.com/

    Screenshot via https://www.cmbchina.com/
    Screenshot via https://www.cmbchina.com/
    Screenshot via https://www.cmbchina.com/
    Screenshot via https://www.cmbchina.com/
  6. PSBC, or Postal Savings Bank of China Co., Ltd., is a Beijing-based commercial retail bank that was established in 2007. It offers fundamental financial services, particularly to customers who are low-income, rural, and small and medium-sized businesses. PSBC had 39,798 branches as of December 31, 2017, and they were spread throughout China.

    The State Post Bureau provided the founding funding of RMB 20 billion for the establishment of PSBC in 2007. After the Agricultural Bank of China, it currently has the second-largest number of branches and deposits totaling RMB 1.5 trillion.

    The government took a number of steps during the Global Financial Crisis to explicitly target rural communities with its national economic stimulus plan. This includes utilizing the Postal Savings Bank's microfinance services as a vehicle for national development and poverty alleviation.


    The market capitalization of the Postal Savings Bank of China as of April 2023 was $68.44 billion. By market cap, this places Postal Savings Bank of China as the 214th most valuable corporation in the entire world. The most recent financial reports from Postal Savings Bank of China show that the company's current revenue (TTM) is $33.96 billion. The corporation generated $33.96 billion in revenue in 2021, a rise from $31.83 billion in revenue in 2020.


    Founded: March 6, 2007
    Headquarters: No. 3 Financial Street, Xicheng District, Beijing, PRC
    Website: psbc.com

    Screenshot via 	psbc.com
    Screenshot via psbc.com
    Screenshot via 	psbc.com
    Screenshot via psbc.com
  7. Top 7

    Bank of Communications

    In mainland China, Bank of Communications Ltd. is the fifth-largest bank. The Bank of Communications, which dates back to its founding in 1908, is one of the banks that have printed banknotes in contemporary Chinese history. It debuted on the Shanghai Stock Exchange in May 2007 and the Hong Kong Stock Exchange in June 2005. The Bank was placed No. 11 among the top 1,000 worldwide banks in terms of Tier 1 capital by the London-based publication The Banker and No. 151 among the Fortune Global 500 in terms of operating income.


    Bank of Communications' market capitalization as of April 2023 is $53.28 billion. By market cap, this places Bank of Communications as the 302nd most valuable corporation in the world. The most recent financial reports for Bank of Communications show that the company's current revenue (TTM) is $42.11 billion. The corporation generated $41.53 billion in revenue in 2021, a rise from $35.75 billion in revenue in 2020.


    Founded: 1908
    Headquarters: Shanghai, China
    Website: bankcomm.com

    Screenshot via 	bankcomm.com
    Screenshot via bankcomm.com
    Screenshot via 	bankcomm.com
    Screenshot via bankcomm.com
  8. Top 8

    Industrial Bank

    The creation of this bank received approval from both the People's Bank of China and the Chinese State Council on August 26, 1988. Fujian Industrial Bank Joint-Stock Company, Ltd. is its legal name. Union Trust Co., Ltd. and Industrial Financial Leasing Co., Ltd. are wholly owned subsidiaries of The Industrial Bank, respectively.


    Financial Markets Center, Credit Card Center, Retail Banking Headquarters, Private Banking Department, Assets Custody Department, Bank Services Center, VIC (Very Important Clients) Department, Investment Banking Department, Futures Finance Department, Funds Finance Department, Trade Finance Center, and Sustainable Finance Center are just a few of the headquarters-level operating units that are present in Shanghai and Beijing.


    The market capitalization of Industrial Bank as of April 2023 was $52.70 billion. By market cap, this places Industrial Bank as the 307th most valuable corporation in the world. The most recent financial reports from Industrial Bank indicate that the company's current revenue (TTM) is $34.44 billion. The corporation generated $34.17 billion in revenue in 2021, an increase from $29.55 billion in revenue in 2020.


    Founded: August, 1988
    Headquarters: Fuzhou, Fujian, China
    Website: www.cib.com.cn

    Screenshot via 	www.cib.com.cn
    Screenshot via www.cib.com.cn
    Screenshot via 	www.cib.com.cn
    Screenshot via www.cib.com.cn
  9. Top 9

    East Money Information

    Chinese website provider East Money Information Co., Ltd. offers financial and stock information. Eastmoney.com got 23.6 million daily visitors in July 2015. The company was established by Chinese billionaire Qi Shi and is listed on the Shenzhen Stock Exchange. It provides both free and paid content, and in July 2015, it had 23.6 million daily users. They anticipated their nine-month profit to increase by more than 2,000% to US$220–236 million in October 2015.


    East Money Information's market capitalization as of April 2023 is $44.76 billion. By market capitalization, this places East Money Information as the 377th most valuable company in the world. The most recent financial reports from East Money Information show that the company's current revenue (TTM) is $0.70 billion. The company generated $2.02 billion in revenue in 2021, an increase from $1.20 billion in revenue in 2020.


    Founded: 2004
    Headquarters: China
    Website: https://www.eastmoney.com/

    Screenshot via https://www.eastmoney.com/
    Screenshot via https://www.eastmoney.com/
    Screenshot via https://www.eastmoney.com/
    Screenshot via https://www.eastmoney.com/
  10. Top 10

    CITIC Securities

    A full-service investment bank in China is called CITIC Securities Co., Ltd. Underwriting, research, brokerage, asset management, wealth management, and investment advice are among the services it provides. The Guangdong Province city of Shenzhen serves as the headquarters for CITIC Securities, which was founded there in 1995.

    In August 2015, it was revealed that CITIC Securities and London Stock Exchange Group Plc were in advanced negotiations for CITIC Securities to acquire Russell Investments, a US-based asset management company. Nevertheless, the conversations were put on hold because Chinese authorities were looking into a number of top CITIC Securities officials. Russell Investments was sold to TA Associates, a Boston-based private equity group, for US$1.15 billion in October, significantly less than the US$1.8 billion that CITIC Securities had offered. The transaction was disclosed by the London Stock Exchange.


    CITIC Securities' market cap was $43.17 billion as of April 2023. By market cap, CITIC Securities is now the 392nd most valuable firm in the world. The most recent financial filings from CITIC Securities indicate that the company's current revenue (TTM) is $10.34 Billion. The corporation generated $11.69 billion in revenue in 2021, a rise from $7.82 billion in revenue in 2020.


    Founded: 1995
    Headquarters: CITIC Securities Tower, Shenzhen, China
    Website: www.cs.ecitic.com

    Screenshot via	www.cs.ecitic.com
    Screenshot via www.cs.ecitic.com
    Screenshot via 	www.cs.ecitic.com
    Screenshot via www.cs.ecitic.com
  11. Top 11

    Ping An Bank

    Chinese joint-stock commercial bank Ping An Bank Co., Ltd. is based in Shenzhen. With a representative branch in Hong Kong, it principally conducts business in Mainland China. The bank provides services in investment banking as well as retail and business banking. One of the three primary pillars of Ping An Group, along with insurance, banking, and asset management, is the bank, which is a subsidiary of Ping An Insurance.

    In 2012, the bank completed a reverse takeover of the publicly traded Shenzhen Development Bank and kept the firm's stock code. Ping An Bank, one of twelve joint-stock commercial banks in China, is a part of the CSI 300 Index, the FTSE China A50 Index, and the Hang Seng China 50 Index, among other indices.


    Ping An Bank's market cap was $36.63 billion as of April 2023. Ping An Bank is now ranked as the 483rd most valuable firm in the world by market valuation. The most recent financial reports from Ping An Bank indicate that the company's current revenue (TTM) is $26.62 billion. The company generated $26.18 billion in revenue in 2021, a rise from $22.32 billion in revenue in 2020.


    Founded: 22 June 1995
    Headquarters: Shenzhen, China
    Website: https://bank.pingan.com

    Screenshot via	https://bank.pingan.com
    Screenshot via https://bank.pingan.com
    Screenshot via	https://bank.pingan.com
    Screenshot via https://bank.pingan.com
  12. Top 12

    CITIC Bank

    According to total assets, China CITIC Bank is the seventh-largest lender in China. Until August 2005, it operated under the name CITIC Industrial Bank. China CITIC Bank is a commercial bank that is both domestically comprehensive and globally focused. It was founded in 1987. The bank retains a substantial presence in the mainland banking sector and has operations in Hong Kong, Macau, New York, Los Angeles, Singapore, and London. The bank runs 1,252 sub-branches in China's economically prosperous regions in addition to its 163 mainland branches. As of Q4 2021, China had 1,415 branch offices in total.


    The market capitalization of CITIC Bank was $36 billion as of April 2023. By market cap, this places CITIC Bank as the 496th most valuable firm in the entire world. The most recent financial reports from CITIC Bank indicate that the company's current revenue (TTM) is $31.59 B. The company generated $31.58 billion in revenue in 2021, an increase from $28.30 billion in revenue in 2020.


    Founded: 1987
    Headquarters: Beijing, Hong Kong, China
    Website: www.citicbank.com

    Screenshot via	 	www.citicbank.com
    Screenshot via www.citicbank.com
    Screenshot via	 	www.citicbank.com
    Screenshot via www.citicbank.com



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