When the Commonwealth's Bank's board visited China recently, it didn't even go to any of the usual megacities. Instead it went to places that few people had heard of before, such as Zhengzhou, Shijiazhuang and Jijuan.
The bank is tactically avoiding the crowded markets of Beijing, Shanghai and the eastern seaboard in favour of China's under-banked and under-serviced regional areas. The bank has stakes in two mid-sized Chinese city-based banks. This is an unconventional approach for Australia's largest lender compared to its peers (Will CBA's Maoist Chinese strategy pay off? 11 September 2014).