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Friday, September 09, 2022
19 Chinese banks noted as systemically important
CHINA DAILY

Nineteen banks have been listed as systemically important this year by the People's Bank of China and the China Banking and Insurance Regulatory Commission.

The list, which was published on the commission's website on Friday, comprises six State-owned commercial banks, nine joint-stock commercial banks and four urban commercial banks.

They were categorized into five groups according to importance. No banks were placed in Group Five, the category of the highest systemic importance.

Group One consists of nine banks: China Minsheng Bank, China Everbright Bank, Ping An Bank, Huaxia Bank, the Bank of Ningbo, China Guangfa Bank, the Bank of Jiangsu, the Bank of Shanghai and the Bank of Beijing.

Group Two features three banks: China Citic Bank, the Postal Savings Bank of China and Shanghai Pudong Development Bank.

Group Three also consists of three banks: the Bank of Communications, China Merchants Bank and the Industrial Bank.

Group Four consists of the remaining banks, all of which are large, State-owned institutions: the Industrial and Commercial Bank of China, the Bank of China, China Construction Bank and the Agricultural Bank of China.

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