No, not all banks in China are entirely government-owned, although the Chinese banking sector is heavily dominated by state-backed institutions. The "Big Four" state-owned commercial banks (Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, and Bank of China) maintain controlling majority stakes held by the Chinese government. However, China's financial landscape also features a wide variety of joint-stock commercial banks, city commercial banks, rural financial institutions, and private banks that incorporate diverse shareholding structures, including domestic corporate ownership, public stock listings on domestic and international exchanges, and minority foreign institutional investors, meaning state control exists on a spectrum rather than as a universal absolute.