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Shanghai (CNS) -- Foreign-funded banks have finally earned their own share of the Chinese market after years of effort, according to an annual report released by Pricewaterhouse Coopers (PwC) on July 17.

In Shanghai alone, foreign banks captured 12 percent of the market in 2011, and according to the report, they have also seen growth in profits and total assets.

PwC undertook the investigation of CEOs and branch bank presidents of 41 foreign banks. Despite China's weakening economic outlook, the interviewees still predict that their banks' annual growth will remain steady at around twenty percent or more by 2015.

According to statistics from the China Banking Regulatory Commission, the total profits of 181 foreign banks in the country were sitting at 16.73 billion yuan in 2011, or double that of 2010, with total assets in 2011 hitting 2.15 trillion yuan or 24 percent up.

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