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China's Reserve Requirement Ratio for large banks. China's banking sector had CN¥417 trillion (US$58.54 trillion) in assets at the end of 2023. [1]The "Big Four" 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 central bank of the People's Republic of China is the People's Bank of China, a component of the State Council, the Central Government of China. The People's Bank of China is mainly responsible for issuing the Renminbi and administering its circulation, in addition to formulating and implementing monetary policy in accordance with Chinese ...
The Industrial and Commercial Bank of China (ICBC; Chinese: 中国工商银行) is a Chinese partially state-owned multinational banking and financial services corporation headquartered in Beijing, China. It is the largest of the "big four" banks in China, and the largest bank in the world by total assets. [8]
Bank of China (Canada), commonly known as BOCC, is the Canadian subsidiary of the Bank of China (BOC). The Bank of China began its business in Canada by opening a representative office in Toronto on 8 September 1992. BOCC was incorporated as a subsidiary of BOC in 1993 under Schedule II of the Bank Act. [45]
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Postal Savings Bank of China focuses on serving "agriculture, rural areas, and farmers", small and medium-sized enterprises, and urban and rural residents. [5] The bank leverages its postal network, ensuring stable operations, compliance, and good risk control to provide quality financial services, maximize shareholder value, and contribute to socio-economic development.
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The Cross-border Interbank Payment System (CIPS) is a Chinese payment system that offers clearing and settlement services for its participants in cross-border renminbi (RMB) payments and trade. CIPS is backed by the People's Bank of China and was launched in 2015 as part of a policy effort to internationalize the use of China’s currency.