Standard & Poor's, one of the world's top three evaluation agencies, recently ranked China's top 50 banks in asset scale.

China's big four state banks, which include the Industrial and the Commercial Bank of China Ltd., the Agricultural Bank of China, the Construction Bank and the Bank of China, as well as the Bank of Communications are on the top five of the list, said a Standard & Poor's report recently.

The report noted that the total assets of the top 50 Chinese banks, composed by state commercial banks, joint-stock banks and city commercial banks, account for 76 percent of the national bank assets.

The Standard & Poor report gave a special touch to the Agricultural Bank of China, which ranked the second among the top 50.

Standard & Poor's Ratings Group said banking evaluation shows that the Agricultural Bank of China played a vital role in supporting China's agricultural industry and boosting rural economy. The bank also will get support from the government in its financial reform.

Standard & Poor's confided with the further growth of Chinese banks, and held that more bank loans will be used in high-efficiency fields, which will result in slowing the growth of non-performing loans (NPLs).

China's banking assets may be further strengthened, along with the resolution of NPLs and capital-deficiency problems, said Zeng Yijing, an analyst with Standard & Poor's.

Source: Xinhua