The four major Chinese banks occupy the top four spots in global bank asset size, and seven Chinese banks rank among the world's top ten.

Foreign Media: China's Four Major Banks Occupy Seven of the Top Ten Spots in the Global Banking Asset Size Rankings

Recently, the UK-based magazine *The Banker* released its latest global banking ranking. China's Industrial and Commercial Bank of China, Construction Bank of China, Agricultural Bank of China, and Bank of China—collectively known as the "Big Four"—secured the top four positions, with JPMorgan Chase ranking fifth.

This ranking is based on Tier 1 capital size. China’s banking sector occupies seven of the top ten spots, all of which are state-controlled banks; China Post Savings Bank made its debut in the top ten, while U.S. Bank and Citigroup ranked sixth and eighth, respectively.

Data shows that the combined total assets of Chinese banks listed in the ranking reached $54.8 trillion, more than double the combined total assets of $25 trillion for U.S. banks on the list.

However, the report also notes that leading in scale does not equate to overall superiority. The U.S. banking sector continues to hold an advantage in profitability. This shift in rankings also reflects China’s growing ambition to promote the internationalization of the renminbi and enhance its global financial influence.

Original Source: toutiao.com/article/1870250883183616/

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