China Financial Facts and Figures @ The China Perspective

The China Perspective

Top 50 banks by total assests

RMB million

	2003	2004
1 Industrial and Commercial Bank of China Ltd.	5,279,120	5,670,521
2 Agricultural Bank of China	3,494,016	4,013.769
3 China Construction Bank Corp.	3,554,279	3,904,785
4 Bank of China Ltd.*	3,979,965	4,270,443
5 Bank of Communications	950,443	1,145,455
6 China Merchants Bank Co. Ltd.	493.972	586,715
7 China CITiC Bank	419,803	514,822
8 Shanghai Pudong Development Bank Co. Ltd	370,833	455,751
9 China Minsheng Banking Corp. Ltd.	360,982	445,297
10 China Everbright Bank Co. Ltd.	394,423	423,690
11 Guangdong Development Bank Co. Ltd.	301,733	344,500
12 Industrial Bank Co. Ltd.	259,999	340,522
13 Hua Xia Bank Co. Ltd.	242,882	304,122
14 Bank of Shanghai	193,368	219,838
15 Bank of Beijing	171,030	208,755
1 6 Shenzhen Development Bank Co. Ltd.	189,783	197,560
17 Shenzhen City Commercial Bank	59,258	68,257
18 Tianjin City Commericai Bank	53,964	60,578
19 Guangzhou City Commercial Bank**	45,875	45,875
20 Hangzhou City Commercial Bank	39,752	38,159
21 Nanjing City Commercial Bank	29,582	38,145
22 Ningbo City Commercial Bank	30,744	34,322
23 Dongguan City Commercial Bank	28,150	31,808
24 Wuxi City Commercial Bank	24,832	29,061
25 Evergrowing Bank Co. Ltd.	20,231	27,244
26 Wuhan City Commercial Bank**	26,400	26,400
27 Changsha City Commercial Bank	22,586	25,916
2 8 Dalian City Commercial Bank**	25,724	25,724
29 Xi'an City Commercial Bank	25,306	25,266
30 Harbin City Commercial Bank	19,891	23,800
31 Chongqing Commercial Bank	24,436	23,732
32 Jinan City Commercial Bank	19,943	23,639
33 Chengdu City Commercial Bank	21,805	23,597
34 Guiyang City Commercial Bank	19,488	22,569
35 Shijiazhuang City Commercial Bank	20,900	22,359
36 Kunming City Commercial Bank	19,464	20,542
37 Yantai City Commercial Bank	20,159	20,414
38 Zhengzhou City Commercial Bank**	16,884	16,884
39 Urumqi City Commercial Bank**	15,701	15,701
40 Qingdao City Commercial Bank	16,121	15,243
41 Wenzhou City Commercial Bank	11,107	14,938
42 Hefei City Commercial Bank**	14,115	14,115
43 Zibo City Commercial Bank	12,654	14,100
44 Suzhou City Commercial Bank	10,152	13,462
45 Taiyuan City Commercial Bank**	12,645	12,645
46 Shaoxing City Commercial Bank	11,519	12,475
47 Taizhou City Commercial Bank**	11,049	11,049
48 China Zheshang Bank Co. Ltd.	n/a	10,307
49 Linyi City Commercial Bank	8,400	9,800
50 Anshan City Commercial Bank**	8,800	8,800

Bank of China's unconsolidated total assets (largely representing its domestic operation) were RMB 3,489,639 million in 2004 and RMB 3,250,886 million in 2003.

ased on 2D03 data as 2004 data not available

s Top 50 Santa, Standard and Poor's

Western banks have invested US $ 25 billion into China's banking sector.

http://www.bjreview.com.cn/06-32-e/bus-4.htm

Top 10 banks in detail

RMB million

	Total assets	Loans	Deposits	Shareholder equity	NOI	Net profit	NPAs
Industrial and Commercial Bank of China Ltd.
2000	4-3,997,845	2,431,944	3,266,792	187,506	16,107	5,220	830,999
2001	4,338,985	2,683,877	3,612,194	191,253	31,977	5,950	791,989
2002	4,776,773	3,002,283	4,100,517	178,208	43,568	6,527	920,595
2003	5,279,120	3,392,937	4,606,202	170,501	57,299	2,473	854,665
2004	5,670,521	3,705,274	5,060,718	162,983	73,511	2,311	812,285
Agricultural Bank of China
2000	2,184,885	1,484,356	1,808,902	134,742	6,340	297	n/a
2001	2,527,990	1,646,178	2,091,411	133,159	7,727	1,152	693,370
2002	2,976,566	1,912,960	2,479,618	136,040	17,229	2,897	700,717
2003	3,494,016	2,268,393	2,997,288	137,969	24,215	1,922	695,489
2004	4,013,769	2,590,072	3,491,549	78,063	29,004	2,003	692,389
China Construction Bank Corp.
2000	2,531,695	1,386,386	2,010,284	114,850	20,536	7,540	247,360
2001	2,752,372	1,505,906	2,265,536	107,567	30,404	5,167	355,339
2002	3,083,195	1,766,388	2,599,652	107,236	36,016	4,250	337,845
2003	3,554,279	2,122,134	2,971,280	186,280	50,133	411	259,255
2004	3,904,785	2,225,585	3,455,468	194,744	66,959	48,388	105,628
Bank of China Ltd.*
2000	3,441,311	1,546,262	2,390,440	202,242	41,957	7,723	416,796
2001	3,361,619	1,631,769	2,477,143	218,420	38,751	7,908	448,050
2002	3,536,169	1,836,263	2,750,305	219,426	46,934	9,509	456,146
2003	3,842,153	2,159,097	3,087,111	186,371	50,718	4,587	368,731
2004	4,270,443	2,146,462	3,342,477	205,351	62,822	20,932	112,232
Bank of Communications
2000	628,182	336,006	502,989	30,726	7,555	2,025	60,166
2001	661,389	377,041	564,763	32,423	8,260	1,909	60,740
2002	766,874	417,320	670,721	32,565	6,495	1,263	87,572
2003	950,443	522,846	852,230	40,644	12,129	83	76,690
2004	1,145,455	640,058	1,029,941	53,553	12,604	1,604	23,597
China Merchants Bank Co. Ltd.
2000	219,508	121,372	163,881	3,685	2,418	804	12,573
2001	258,230	140,185	212,827	4,912	3,227	1,375	16,274
2002	366,191	206,931	300,183	16,829	4,325	1,847	14,110
2003	493,972	307,480	400,960	18,324	6,172	2,180	10,948
2004	586,715	375,907	508,458	21,958	9,114	3,241	11,452
China CITIC Bank
2000	235,285	120,182	163,546	8,563	1,876	924	1,336
2001	300,396	160,486	226,688	9,509	2,430	946	23,860
2002	335,163	206,746 3	268,708	9,337	3,427	1,416	24,208
2003	419,803	268,519 3	350,367	16,845	4,132	1,544	24,126
2004	514,823	316,714	433,898	19,666	5,951	318	21,061
Shanghai Pudong Development Bank Co.
2000	128,870	70,500	105,590	6,654	1,702	728	7,563
2001	173,919	97,198	147,333	7,672	2,117	1,018	8,498
2002	279,741	175,289	242,262	8,432	3,401	1,242	7,898
2003	370,833	255,848	321,065	12,104	5,053	1,575	6,712
2004	455,751	311,122	394,169	13,640	7,053	1,966	7,840
China Minsheng Banking Corp. Ltd.
2000	69,957	39,483	52,715	5,242	820	134	1,820
2001	138,385	78,244	104,599	5,681	1,660	608	3,569
2002	244,551	132,750	186,807	6,989	2,099	885	3,020
2003	360,982	205,181	274,816	9,764	3,414	1,368	3,092
2004	445,297	290,780	380,081	12,717	4,962	2,007	4,647
China Everbright Bank Co. Ltd.
2000	204,196	100,768	151,835	9,362	1,570	272	29,789
2001	265,406	152,350	207,441	12,535	1,372	176	32,247
2002	319,216	191,287	267,724	12,812	1,891	272	30,370
2003	394,423	248,568	343,570	13,336	2,860	433	27,403
2004	423,690	268,000	385,300	1,742	5,100	4,582	26,500

*NOI: Net Operating Income before provisions

**NPAs: Non-performing assets

Source: Top 50 Banks, Standard and Poor’s

Bank deposits

RMB trillion

	2000	2001	2002	2003	2004
All deposits	12.38	14.36	17.09	20.81	24.05
Enterprise deposits	4.41	5.15	6.00	7.25	8.47
Finance deposits	0.35	0.34	0.35	0.51	0.62
Government deposits	0.22	0.29	0.52	0.67	0.82
Household savings deposits	6.43	7.38	8.69	10.36	11.96
Rural deposits	0.26	0.31	0.38	0.49	0.55
Trust deposits	0.29	0.27	0.24	0.25	0.21
Other deposits	0.41	0.63	0.91	1.27	1.43

Source: The People’s Bank of China

NPL in banks

RMB bn

	NPLs	*NPL ratio**
2001	2,172.10	30.50
2002	2,077.00	26.00
2003	1,992.00	22.20
2004	1,717.60	13.21
2005	1,313.36	8.50

* NPL: Non-performing loan

Source: People’s Bank of China, China Banking Regulatory commission

Assets & NPSs in city commercial banks

US$ billion

	Assets	NPL proportion (%)
2002	145.10	24.03
2003	182.20	17.70
2004	212.50	11.70
2005	253.81	7.70

* NPL: Non-performing loan

Source: People’s Bank of China, China Banking Regulatory commission

Market capitalization of stock exchanges

US$ billion

	Shanghai	Shenzhen	Hong Kong
2000	336.59	264.47	626.85
2001	344.84	199.12	508.75
2002	317.00	162.05	465.56
2003	372.51	158.14	715.21
2004	325.48	137.99	863.22
2005	352.79	116.63	1054.54

Source: Shanghai, Shenzhen & Hong Kong Stock Exchanges

Overseas IPOs

	Listed companies	Market capitalization (US$ mn)	Listed mainland companies	Largest IPO company	Equity bonds raised (US$ mn)
Singapore Stock Exchange	664	263,375	89	People’s Food Holdings Ltd	289.91
HK Stock Exchange	934	1,046,328	166(79 Hshare, 87 redchip)	China Construction Band	6,230.00
HK Stock Exchange GEM	201	8,589,52	44(40 Hshare, 4 redchip)	Wumart Stores, Inc	70.49
NYSE	2,775	21,400,000	17	China Life	1,080.00
NASDAQ	3,208	3,700,000	19	SINA.com	1,280.00
LSE Mainboard	1,692	7,142,000	6	Sinopec	2,890.00

IPO: Initial public offering

Source: NYSE, NASDAQ, LSE, Singapore Stock Exchange, Hong Kong Stock Exchange (Overseas IPO’s cont)

Groundbreaking Chinese companies

	Date	Company
Singapore Stock Exchange	1/1/1993	COSCO Corporation Ltd
HK Stock Exchange	7/15/1993	Tsingtao Brewery Co Ltd
HK Stock Exchange GEM	7/27/2000	Beijing Beida Jade Bird Universal Sci-Tech Co Ltd
NYSE	7/26/1993	Sinopec Shanghai Petrochemical Company Limited
NASDAQ	7/8/1995	China Naturl Resources, Inc.
LSE Mainboard	3/20/1997	Datang Inti Power Generation
LSE AIM	10/30/2000	CYC Holdings

Source: NYSE, NASDAQ, LSE, Singapore Stock Exchange, Hong Kong Stock Exchange (Groundbreaking Chinese companies cont )

Listed Chinese companies

	NYSE	NASDAQ	Main board LSE	AIM LSE	Main board HKSE	GEM HKSE	Singapore Stock Exchange
1995	0	0	0	0	3	0	1
2000	2	0	2	0	5	3	1
2001	2	0	2	0	6	6	3
2002	1	0	0	1	7	12	0
2003	1	1	0	0	14	9	13
2004	2	8	1	4	15	11	34
2005	2	7	0	11	14	3	27

Source: NYSE, NASDAQ, LSE, Singapore Stock Exchange, Hong Kong Stock Exchange (Groundbreaking Chinese companies cont )

Securities and futures

	2001	2002	2003	2004	2005
Domestically listed companies	1,160	1,224	1,287	1,377	1,381
Total shares issued (Billion)	521.80	587.55	642.85	714.94	762.95
Tradable shares (Billion)	1,813.17	2,036.90	2,269.92	2,577.18	2,914.77
Total stock market capitalization (RMB bn)	435.22	383.29	424.58	370.56	324.30
Market cap. Of tradable shares (Billion)	144.63	124.85	131.79	116.89	106.31
Total stock trading volume (Trillion shares)	315.23	301.62	416.31	582.77	662.35
Total stock tumover (RMB bn)	383.05	279.90	321.15	423.34	316.63
Securities Accounts (million)	6,965.90	7,202.16	7,344.41	7,215.74	7,336.07
Shanghai Stock Exchange (close price)	1,645.97	1,357.65	1,497.04	1,266.50	1,161.06
Shenzhen Stock Exchange (close price)	475.94	388.76	378.62	315.81	278.74
Treasury bond issued (RMB bn)	488.40	593.43	628.01	692.39	704.20
Futures transaction volume (million lot)	120.46	139.43	279.92	305.70	322.87
Futures turnover ( RMB bn)	301.45	394.90	1,083.97	1.469.35	1,334.63

Source: China Securities and Futures Markets: http://www.csrc.gov.cn/cms/uploadFiles/china%20securities%20and%20futures%20markets%202006.1153806472195.pdf (securities and futures cont. )

Private equity transactions

US$ billion

	Deals completed	Value
2004	68	1.25
2005	90	3.00

Source: China Securities and Futures Markets, http://www.csrc.gov.cn/cms/uploadFiles/china%20securities%20and%20futures%20markets%202006.1153806472195.pdf

China ’s futures turnover reached RMB 1.79 trillion in July 2006.

Source: China Futures Association, http://www.bjreview.com.cn/06-32-e/bus-6.htm

Total business volume in the futures market in first seven months of 2006 rose 57% over same period in 2005.

Source: China Futures Association, http://www.bjreview.com.cn/06-32-e/bus-6.htm

Turnovers of Shanghai’s future exchange market accounted for 65.95% of China’s total

Source: China Futures Association, http://www.bjreview.com.cn/06-32-e/bus-6.htm

10 companies had raised RMB 40.6 billion in IPOs on mainland markets by the end of July 2006.

Source: China Futures Association, http://www.bjreview.com.cn/06-32-e/bus-6.htm

Shanghai & Shenzhen stock exchanges

	Shanghai Stock Exchange (SHSE)	Shenzhen Stock Exchange (SZSE)
Founding date	1/26/1990	12/1/1990
Total market capitalization (RMB bn)	2,130	933
Listings	834	544
Equities	878	586

Source: China Securities and Futures Markets

Fixed-asset investment was RMB4.24 trillion in the first half of 2006.

Source: National Bureau of Statistics, BJ Review no.32

Qualified foreign institutional investors (QFII)*

	Quota (US$ million)
UBS Limited	800
Nomura Securities Co., Ltd	50
Citigroup Global Markets Limited	550
Morgan Stanley & Co. International Limited	400
Goldman Sachs & Co.	150
The Hongkong and Shanghai Banking Corporation Limited	400
Deutsche Bank Aktiengesellschaft	400
ING Bank N.V.	300
JP Morgan Chase Bank	150
Credit Suisse First Boston ( Hong Kong) Limited	300
Nikko Asset Management Co., Ltd	450
Standard Chartered Bank ( Hong Kong) Limited	75
Hand Seng Bank Limited	150
Daiwa Securities SMBC Co., Ltd	50
Merrill Lynch International	300
Lehman Brothers International ( Europe)	200
Bill & Melinda Gates Foundation	100
INVESCO Asset Management Limited	50
ABN AMRO Bank N.V.	175
Societe Generale Asset Management S.A.	50
Templeton Asset Management Limited	n/a
Barclays Bank PLC	75
Dresdner Bank Akitengesellschaft	75
Fortis Bank S.A./NV	400
BNP Paribas	200
Power Corporation of Canada	50
CALYON S.A.	75
Goldman Sachs Asset Management International	200
Government of Singapore Investment Corporation	100
Martin Currie Investment Management Ltd.\	120
AIG Global Investment Corp.	50
Temasek Fulllerton Alpha Pte Ltd	100
JF Asset Management Limited	150
Dai-ichi Mutual Life Insurance Company	100
DBS Bank	100
MP Capital Investors Limited	n/a
The Bank of Nova Scotia	150
KBC Financial Products UK Limited	100
La Compagnie Financierr Edmond de Rothschild Banque	n/a
Yale University	n/a
Total	7145

*as of June 2006

Note: Under the QFII program, foreign companies are authorized to invest up to a certain amount in mainland stock markets.

RMB leanding rate

	Interest Rate (% per annum) Oct 29th, 2004	Interest Rate (% per annum) Apr 28 th, 2006
Short-term loans
Within 6 months (including 6 months)	5.22	5.4
6 months to 1 year (including 1 year)	5.58	5.85
Medium and long-term loans
1 to 3 years (including 3 years)	5.76	6.03
3 to 5 years (including 5 years)	5.85	6.12
More than 5 years	6.12	6.36

Source: People’s Band of China

In 2005 Chinese banks suffered a total pre-tax loss of US$84 million in their credit card business.

http://www.bjreview.com.cn/06-32-e/bus-4.htm

Credit card business accounts for 4% of overall profits in the banking sector.

http://www.bjreview.com.cn/06-32-e/bus-4.htm

By 2013 China’s credit card business will account for 14% of overall profits of banking sector.

http://www.bjreview.com.cn/06-32-e/bus-4.htm

China Merchants Bank achieved profit in its credit card business of RMB60 million in first quarter of 2006.

Source: http://www.bjreview.com.cn/06-32-e/bus-4.htm

There were 12 million credit card users in China at beginning of 2006.

Http://www.bjreview.com.cn/06-32-e/bus-4.htm

Nearly 20 million credit cards have been issued in China.

Http://www.bjreview.com.cn/06-32-e/bus-4.htm

50% of credit card users have credit cards because of their companies or work units.

Source: Mckinsey & Co, Http://www.bjreview.com.cn/06-32-e/bus-4.htm

Futures trading volume & turnover

	Annual turnover (US$ billion)	Annual trading volume (million)
1995	1,243.75	636.1
2000	198.9	54.61
2001	372.82	120.5
2002	488.4	139.43
2003	1,340.49	279.86
2004	1,817.24	305.7

Source: China Securities Regulatory Commission

Corporate taxed

US$ billion

	Foreign firms	Domestic firms
2000	3.94	13.51
2001	6.19	19.44
2002	7.44	16.38
2003	8.52	19.77
2004	11.27	26.69

Source: State Administration of Taxation

China ’s tax revenue was US$386 billion in 2005.

Source: http://news.xinhuanet.com/english/2006-07/25/content_4877505.htm

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