The addition came in an annual update of the GSIB list by the Financial Stability Board, a global financial institution watchdog set up after the financial crisis.
The FSB puts GSIBs in “buckets” that correspond to “the higher loss absorbency requirements that they would be required to hold”.
The first bucket represents banks with the highest global systemic risk. Currently no banks are in this bucket.
CCB is in the fifth bucket, joining three other mainland banks: Agricultural Bank of China, Bank of China and ICBC. The list reflects the growing global importance of China’s banking system.
Compared with the group of GSIBs published in 2014, the only other change this year aside from adding CCB is the removal of Spain’s BBVA from the list.
The FSB said it will update the list of GSIBs again in November 2016.
Bucket GSIBs*
