China’s Financial institutions are now world’s No.2 in terms of scale only after USA. In fact China is even bigger than USA in some aspects, such as the size of the bank (See Graph from Chinatells). However, the decision making system in China’s financial institutions are a complex mystery to outsiders (See Article from Economist). It seems that the heads of big 5 state owned banks are mostly government officials and have a political agenda. Some of them might be shifted between competitors due to political consideration. China’s bank lending mandate looks more like a government verdict rather than a market behavior. On top of the commercial banks, there are government entities such as China’s Bank Regulatory Committee, State Administration of Foreign Exchange and People’s Bank of China. To figure out who does what and who is the boss appears to be a mission impossible for western observers.