China is very protective of its market, especially services. They have their own stuff - Baidu instead of Google, Alibaba instead of ebay/Amazon, etc.
Most foreign companies are forced to pair up with local Chinese companies. The transfer of IP is "included in the price of access to the market", to put it mildly.
There are significant limitations when it comes to foreign participation in Chinese stock markets.
Also, China now runs 4 of the world's 5 biggest banks.
That article notes that Chinese and American banks count assets differently, and that JPMC "may" be the largest in a "true apples to apples comparison".
