No bank in China is purely private. Except for the four major state-owned banks, most other banks have the background of state-owned or central enterprises, and most commercial banks have shares in central enterprises or state-owned enterprises.

Banks are financial institutions established in accordance with the law to operate monetary credit business, and they are the products of the development of commodity monetary economy to a certain stage.

Banks are one of the financial institutions. Banks are divided into central banks, policy banks, commercial banks, investment banks and the World Bank, with different responsibilities.

Central Bank: China People's Bank is the central bank of China.

State-owned policy banks: including The Export-Import Bank of China, China Agricultural Development Bank and China Development Bank.

State-owned commercial banks: including China Industrial and Commercial Bank, China Agricultural Bank, China Bank, China Construction Bank, China Postal Savings Bank and Bank of Communications.

Investment banks: including Goldman Sachs, Morgan Stanley, Citigroup, Wells Fargo, UBS Group AG, Societe Generale, etc.

World Bank: It is used to help countries overcome poverty. Various institutions play a unique role in alleviating poverty and improving living standards.