US Banks vs. European Banks: Strength of Ties with China | Hao Hong, chief China strategist , Bank of Communications. 00:10:00
US banks generally have stronger ties with China compared to their European counterparts, despite some divestments like Bank of America's sale of its stake in China Construction Bank. The Chinese banking sector remains largely closed, with foreign ownership limited to 20% per single entity and 25% jointly. These restrictions hinder significant foreign influence in China's financial system.
