Banking: 240 scandals involving China's state-owned banks

Around 240 scandals were revealed in China's state-owned commercial banks in the first half of this year. The figure represents a third of China's total bank scandals. Figures released by the State Banking Regulatory Commission, reveal that scandals involving state-owned banks amounted to $198 million.

The gang of four state-owned commercial banks - the China Construction Bank, Agricultural Bank of China, Industrial and Commercial Bank of China and Bank of China, have a combined market share of 55 percent.