Goldman Sachs acquires stake in China's largest bank

Goldman Group to Invest in Chinese Bank
SHANGHAI, Friday, Jan. 27 - An investment group that includes Goldman Sachs, Allianz of Germany and the American Express Company is expected to announce Friday that it will pay about $3.8 billion for a 10 percent stake in the Industrial & Commercial Bank of China, China’s largest government-owned bank, according to people close to the deal.

So far, among the four largest banks in China, only the Agriculture Bank hasn't recieved any foreign investment. Foreign banks typically put in $ 3 billion to acquire 10% non-controlling stake. To put the size into perspective, $ 3 billion can certainly get you full control of ICICI bank in India, which is the largest private sector bank.

Let's take a count of foreign banks' latest investments in China: 

Citigroup put $ 3 billion into Guangdong Development Bank (85% share) -- pending (exceptionally difficult) regulatory approval
Bank of America put $3 billion into China Construction Bank (non-controlling)
Royal Bank Of Scotland and Merrill Lynch put 3$ billion into Bank of China (non-controlling)
Temasek Holdings willing to put $4 billion into Bank of China (non-controlling)
..........

Finally, I recommend to you a very good review article published by USA today: Only the bravest of bankers boldly go into China