China's Too-Big-to-Fail Financial Firms Keep Getting Bigger
- Nation is home to the world’s four largest banks by assets
- Regulators are said to be planning an expansion of SIFI list
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In most countries, only a handful of financial institutions are large enough to warrant a “too big to fail” label. China isn’t most countries.
After a decade of runaway credit expansion and regulatory loosening, the nation’s $40 trillion financial system is teeming with giants. Not only have China’s biggest financial companies kept growing bigger and more complex, but formerly little-known firms are now some of the largest on Earth.