Integration of foreign banks

Despite suggestions to the contrary, China has been continuously deepening and broadening the opening-up of its banking sector

Foreign-funded banks have boomed on the Chinese mainland over the past decades, especially since China's accession to the World Trade Organization in 2001.

While playing an active role in bolstering China's rapid economic development, foreign-funded banks have also shared in the fruits of its rapid growth and enjoyed a big boost in the scale of their own assets and profits. However, some in the West doubt the achievements of foreign banks in China, citing the low proportion of their assets to the country's total banking assets.