By the end of 2005, 254 foreign banks have opened operating units in China, with a total asset of 87.7 billion dollars, accounting for 1.89% of all assets in Chinese banking industry, according to “The 2006 China Financial Stability Report” published by the People’s Bank of China.

Other statistics from this report include:

• 154 foreign banks are approved to conduct Renminbi business in 25 cities.
• 25 foreign institutions take stakes in 20 local banks.
• 7 securities institutes and 20 fund management firms are joint-ventured.
• There are 23 joint-ventured and 17 wholly foreign-owned companies in insurance industry.

• New Regulations on Foreign-Funded Banks
• Key Statistics on China’s Banking Industry, 2006
• PricewaterhouseCoopers: Foreign banks in China 2007
• China Merchants Bank Approved to Open Branch in New York
• Longtop Acquires Jactus, Establishes Risk Management Laboratory
• Yucheng Technologies Creates Joint Venture with 3i Infotech
• BEA China Becomes First Foreign Bank to Launch RMB Debit Cards on the Mainland
• Deutsche Bank China Incorporates in Beijing