The assumption here is that Chinese banks operate with only a profit movie. Things don't work that way in China, the CCP could compel one or more Chinese banks to co-operate if it serves their geopolitical interests.
China would be keen on establishing and testing an alternative to SWIFT & CHIPS, the US stranglehold on financial systems, as they know the US would use it serve her geopolitical interests.
Looking at the number of countries sanctioned, there is no dearth of customers.
This reminds of Borg from Star Trek, more you use your weapons against them, faster they adapt.
China would be keen on establishing and testing an alternative to SWIFT & CHIPS, the US stranglehold on financial systems, as they know the US would use it serve her geopolitical interests.
Looking at the number of countries sanctioned, there is no dearth of customers.
This reminds of Borg from Star Trek, more you use your weapons against them, faster they adapt.