In China, more than 670 banks ceased operations in 2025

The Financial Times, citing the National Financial Regulatory Administration of China, wrote that in 2025, more than 670 banks in the country ceased operations, as a result of which their total number decreased by almost a quarter.

As the publication notes, this became part of a campaign to strengthen control over small lenders amid a slowdown in economic dynamics. Last year, a record number of banking institutions closed - more than 670, almost all of them in rural areas.

Jason Bedford, a senior visiting fellow at the National University of Singapore's East Asia Institute, said the consolidation of the banking sector is aimed at simplifying regulation and eliminating potential liquidity problems.