The paper summarizes several development paths of the banking institutes after reviewing the mainstream banking theories and nearly three decades’ history of the banking sectors in China: the stateowned banks focus on corporate governance, the joint stocked commercial banks emphasize on crossregional expansion; local banks’ transforms are largely promoted by the awareness of the local governments; the post and policy banks, together with the AMC experience a functional transition; the nonfinancial institutes are strengthened under the national institutional arrangements.