China has experienced rapid economic growth in recent decades, with GDP growth averaging around 10% annually. As China's economy and middle class have expanded, demand for banking and financial services has grown significantly. Several large international banks like Bank of America and Citigroup have partnered with or acquired Chinese banks to expand their operations and capture this growing market. These international banks see China as a major opportunity for future growth and profits.

17. REFERENCES
• https://www.google.com/publicdata/explore?ds=d5bncppjof8f9_&met_y=ny_gdp_mktp_kd_zg&idim=country:CHN&dl=en&
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• http://www.economywatch.com/mortgage/china.html
• https://www.google.com/search?q=bank+of+america+partnership&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:es-
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• http://www.forexnews.com/blog/2013/03/14/investing-in-china/
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• http://financeresearchandreport.blogspot.com/2013/02/credit-cards-in-china-will-grow-at-cagr.html#.UVOi-TeN1Ns
• http://www.bloomberg.com/news/2012-02-23/bank-of-america-to-speed-growth-in-china-after-doubling-p.html
• http://www.bloomberg.com/news/2013-02-28/citigroup-2012-china-profit-sound-after-adding-products-staff.html
• http://english.caixin.com/2010-11-01/100194240.html
• http://www.bloomberg.com/news/2010-12-09/ex-citi-s-huang-to-take-up-post-at-bank-of-america-cbn-reports.html