China Dominates the World’s Mega-Bank Club
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After a decade of runaway credit expansion and regulatory loosening, China’s banking system has swollen more than fourfold and now has more giant institutions than any other country. There are 13 banks with at least $500 billion of assets, more than Japan and the U.S. combined, according to data compiled by Bloomberg. Chinese policy makers are planning to increase the number of financial firms deemed too-big-to-fail, people familiar with the matter said last week.