During the past two months, Bank of America has announced a $2.5 billion investment in return for a 9% stake in the China Construction Bank, and The Singapore-based holding company Temasek paid $1.4bn for a 5.1% stake in China Construction Bank. The Royal Bank of Scotland is leading an investment group that will invest $3.1 billion more in the Bank of China, while Goldman Sachs and Germany’s Allianz are close to an agreement to acquire a 9.9% stake in the Industrial and Commercial Bank for a similar sum.