China's 10 Largest Banks 2014 Total Audited Earnings of RMB 1.162 Trillion Comprised 80% of the Total Audited 2014 Earnings of China's 15 Largest Companies ..... These 10 Chinese Banks Reported 70 Consecutive Year-Over-Year Increases in Audited Earnings from 2007 to 2014 ..... And Elizabeth Warren Thinks There's Something Strange About US Big Banks?

From a review of the superb Google Finance Website, I broke out below the 15 Companies headquartered in China which had the largest stock market caps on the Shanghai Stock Exchange.

I excluded the newly formed CRRC Corp Ltd because financial statements of it weren't available and the two bullet train manufacturers merged into it had very little in the way of past earnings.

Of these 15 largest Chinese Companies, an amazingly high 10 of them were Banks.  And from a review of financial statements at their investor relations websites, these 10 Banks comprised an off-the-charts 80% of the Total 2014 Audited Earnings of the 15 largest Chinese Companies.

I could only find three other China headquartered Companies whose stocks didn't trade on the Shanghai Stock Exchange ..... Alibaba Group, Tencent Holdings and Baidu ..... which had stock market caps that would be in the top 15.  All three of them are great companies but their Total 2014 Audited Earnings were only 5% of the Total 2014 Audited Earnings of the 10 largest Chinese Banks.

When 80% of the Earnings of a Country are in its Banks and another 5.5% are in its Insurance Companies, there is no way you can have a robust, broad-based economy.

And when these 10 largest Banks report 70 consecutive year-over-year increases in audited earnings for all years from 2007 through 2014, I suggest that that is mathematically impossible in real economic terms.

I used the Consolidated Net Profit amounts for all years for the four largest Chinese Banks.  And I used Net Profits Attributable to Owners for all years for the six somewhat smaller Chinese Banks because it was much easier to find these numbers in the many voluminous annual reports reviewed.  If I would have used Consolidated Profit amounts for all 10 Banks, the Total 2014 Audited Earnings of these 10 largest Chinese Banks would have been north of RMB 1.2 trillion.  The RMB is worth about 16 cents in US$ terms.

Below here are the reported Audited Earnings for each of  these 15 largest Chinese Companies for all years from 2007 through 2014:

		2014	2014	2013	2012	2011	2010	2009	2008	2007
		Most	Audited	Audited	Audited	Audited	Audited	Audited	Audited	Audited
Google Finance Website	City	Recent	Net	Net	Net	Net	Net	Net	Net	Net
Largest China Companies	HQs	FYE	Profit	Profit	Profit	Profit	Profit	Profit	Profit	Profit
			mil RMBs	mil RMBs	mil RMBs	mil RMBs	mil RMBs	mil RMBs	mil RMBs	mil RMBs
Banks
Industrial and Commercial Bank of China	Beijing	Dec14	276,286	262,965	238,691	208,445	166,025	129,396	111,226	82,254
China Construction Bank	Beijing	Dec14	228,247	215,122	193,602	169,439	135,031	106,836	92,642	69,142
Agricultural Bank of China Ltd	Beijing	Dec14	179,510	166,211	145,131	121,956	94,907	65,002	51,453	43,787
Bank of China Limited	Beijing	Dec14	177,198	163,741	145,746	130,848	110,111	85,349	65,573	62,017
Bank of Communications Co Ltd	Shanghai	Dec14	65,850	62,295	58,369	50,735	39,042	30,118	28,524	20,323
China Merchants Bank Co Ltd	Shenzhen	Dec14	55,911	51,743	45,268	36,129	25,769	18,235	21,077	15,243
Industrial Bank Co Ltd	Fuzhou	Dec14	47,138	41,211	34,718	25,505	18,521	13,282	11,385	8,586
Shanghai Pudong Development Bank Co Ltd	Shanghai	Dec14	47,026	40,922	34,186	27,286	19,177	13,217	12,516	5,499
China Minsheng Banking Corp Ltd	Beijing	Dec14	44,546	42,278	37,563	27,920	17,581	12,104	7,885	6,335
China CITIC Bank Corporation Limited	Beijing	Dec14	40,692	39,175	31,032	30,819	21,509	14,320	13,296	8,322
Total all 10 Banks			1,162,404	1,085,663	964,306	829,082	647,673	487,859	415,577	321,508
Total Bank Earnings % Increase:
….. 2014 Over 2013			7%
….. 2014 Over 2012			21%
….. 2014 Over 2011			40%
….. 2014 Over 2010			79%
….. 2014 Over 2009			138%
….. 2014 Over 2008			180%
….. 2014 Over 2007			262%
Insurance Companies
Ping An Insurance Group of China	Shenzhen	Dec14	47,930	36,014	26,750	22,582	17,938	14,482	1,635	19,219
China Life Insurance Co Ltd	Beijing	Dec14	32,514	25,008	11,272	18,491	33,811	33,036	19,274	39,060
Oil & Gas Companies
PetroChina Co Ltd	Beijing	Dec14	119,028	142,274	130,620	145,959	150,792	106,559	126,802	155,337
China Petroleum & Chemical Corp	Beijing	Dec14	46,466	66,132	63,879	73,225	71,782	63,129	31,180	56,150
Coal Company
China Shenhua Energy Co Ltd	Beijing	Dec14	48,383	55,224	57,896	53,802	44,619	37,110	29,899	24,037
Total all 15			1,456,732	1,410,315	1,254,723	1,143,141	966,615	742,175	624,367	615,311