But Wal-Mart was stymied recently when it tried to reduce costs by buying a tiny industrial bank.
Shanghai Pudong Development Bank, Bank of Beijing, and Industrial Bank all reported stellar Q3 numbers.
This week it launched several ventures with Industrial Bank of Japan to strengthen its defences against foreign rivals.
ECONOMIST: Japanese finance: Rich pickings for the gaijin | The
Industrial Bank, for instance, posted a simply astounding 40.9% increase in net profit.
Lu Zhengwei, chief economist of Industrial Bank, told China Daily on Tuesday that trends will continue toward moderate recovery.
The company insists it does not want to move into retail banking, but could save money by processing transactions through a state industrial bank (to be based in Utah).
Renault has faced no such meddling: Nissan's big shareholders, such as Yamaichi Securities, Industrial Bank of Japan and Fuji Bank, were either bust or in too much of a mess to interfere.
In general the bigger the institution, the more likely there is to be support, especially when the government has a direct stake (as in the Bank of Taiwan and the Industrial Bank of Korea).
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Most of those sites were flooded with junk traffic designed to take them offline, but some Anonymous factions hacked and defaced target sites, instead, including the Syrian embassy in Belgium and the Syrian Industrial Bank.
FORBES: Anonymous Hackers Swat At Syrian Government Websites In Reprisal For Internet Blackout
Most remarkably, Mikitani, a graduate of Hitotsubashi University whose first job was with Industrial Bank of Japan (now Mizuho Bank) that sent him to Harvard for an MBA in 1993, has been driving his company to realize his global business vision.
FORBES: Can Rakuten Maverick CEO Mikitani's New Organization Change Japan?
Two banks went bust in 1965, leading to calls for depositors to be made good by the government (which would then recover what it could from the liquidation of bank assets), for the introduction of deposit insurance and the creation of a government-backed industrial bank.
Bank of China, China Construction Bank and Industrial and Commercial Bank of China all revealed their exposure to the US subprime market recently but added that the damage would be limited.
BBC: China says most of its reserves are in US Treasury Bonds
Friday, branches of the Bank of China and the China Industrial and Commercial Bank in the border city of Dandong told NPR that they had suspended all financial transactions between North Korea and China since the nuclear test.
China Construction Bank jumped 2.6% in Hong Kong and Industrial and Commercial Bank of China ended up 2.7%.
In Hong Kong, Industrial and Commercial Bank and China Construction Bank (HK: 0939) both opened 1.7% lower.
FORBES: China Banks Struggling To Give Money Away; Equities Decline
The fund has held the Industrial and Commercial Bank of China since inception and recently added to their position.
This includes a hit that it has taken on its investment in the Industrial and Commercial Bank of China.
FORBES: Don't Blame Goldman Sachs For Hedging Its Bets And Staying In Business
The impairment charge of Industrial and Commercial Bank of China, for instance, was 1.9 billion yuan lower in Q3 than a year earlier.
On Thursday, Industrial and Commercial Bank of China announced its first half profits had jumped 29% from a year earlier, reaching 109.6 billion yuan.
No outsider knows the percentages of non-performing loans at the big four banks of China, including the Industrial and Commercial Bank of China and China Construction Bank.
Only 4 months after the Industrial and Commercial Bank of China began opening savings accounts linked to gold, more than 1 million such accounts have been opened.
FORBES: Budget Debacle, Chinese Demand, Drive Gold To $1471; Next Stop, $1500
Industrial and Commercial Bank of China has bought 20% of Standard Bank, a South African lender and the continent's biggest bank by assets, and now offers renminbi accounts to expatriate traders.
The stock of Industrial and Commercial Bank of China dropped by 3.2% in Hong Kong yesterday on the news that Goldman Sachs had dumped part of its stake in the Chinese lender.
Short sellers were doing well, especially those touting their insights on the financial networks, dousing China banks like the behemoth Industrial and Commercial Bank of China ( HKG: 1398) with nothing but bad news of their eminent demise.
"Past experience has taught us that a bad loan crisis usually came three years after a period of abnormal credit surge, " Wei Guoxiong, chief risk management official with the Industrial and Commercial Bank of China was quoted as saying by the Xinhua news agency.
The Unite union said it may ballot its members at the bank for industrial action.
Friedman, the rehearsal room walls, ceiling, bank of industrial neon lights above had been built.
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