Cathay "Pratica della mercatura", a guide about trade in China, a country he called "Cathay", noting the size of Khanbaliq (modern Beijing) and how merchants could exchange silver for Chinese paper money that could be used to buy luxury items such as silk. Words related to Khitay are still used in many Turkic and Slavic languages to refer to China. However, its use by Turkic speakers within China, such as the Uyghurs, is considered pejorative by the Chinese authority who had tried to ban it. As European and Arab travelers started reaching the Mongol Empire, they described the Mongol-controlled Northern China
Cathay Bank plans to acquire a 20% stake in First Sino Bank, but the deal fell through due to the companies failing to get approval from the Chinese government. On March 30, 2007, Cathay expanded into New Jersey when it completed its acquisition of United Heritage Bank. In 2007, Cathay Bank converts its Hong Kong Representative office into a full service branch. On January 21, 2015, Cathay General Bancorp, the holding company for Cathay Bank, and Asia Bancshares, the holding company for Asia Bank, N.A., announced that they have entered into a definitive agreement for the merger of Asia Bancshares into Cathay.