China now runs 4 of the world's 5 biggest banks
China has become a banking powerhouse. Four of the five largest banks in the world are Chinese, according to SNL Financial's latest global bank rankings. It's a big change from the past few years when only two Chinese banks made the top five. Beijing-based Industrial & Commercial Bank of China holds the top spot with assets valued at $3.5 trillion. That means the bank is worth more than the entire value of the British economy. The only non-Chinese …