Industrial Bank of China

Industrial Bank of China

The industrial and Commercial Bank of China was organized by the Ministry of finance of the Republic of China in 1915 and formally established in April 2008. The main sponsors are Li Shiwei, former president of Bank of China, Zhou Xuexi, former chief financial officer, Xiong Xiling, former premier of state, Qian Nengxun and others.

The industrial and Commercial Bank of China was organized by the Ministry of finance of the Beiyang Government in 1915 and formally established in April 2008. The main sponsors are Li Shiwei, former president of Bank of China, Zhou Xuexi, former chief financial officer, Xiong Xiling, former premier of state, Qian Nengxun and others. The total capital rating is 20 million yuan, with half of commercial shares and half of public shares. The public shares of 10 million yuan are held by Bank of China, and the commercial shares of 10 million yuan are recruited from the society. However, the paid in capital at the time of opening was only over 2 million yuan, which was mainly appropriated by the Bank of China. The head office was set up in Tianjin and moved to Shanghai in the 21st year of the Republic of China. Shanghai Branch was set up in 1949. The bank, known as "Industrial Bank", is still engaged in general commercial banking, savings, trust, warehouse and other businesses. In the same year, it was approved to issue banknotes. In the first year, it only issued more than 40000 yuan. Later, it increased year by year, reaching 7.56 million yuan in the 16th year of the Republic of China. Thanks to the support of the Beiyang government and the right to issue banknotes, the business is relatively developed. In the early 1930s, the deposit has exceeded 40 million yuan, ranking eighth among the major commercial banks in China. The banknotes issued by the bank were widely circulated in the market, and then more and more banknotes were issued. Before the national government implemented the reform of legal currency in 24 years of the Republic of China, the amount of banknotes issued was more than 44 million yuan. Due to excessive issuance and empty preparation, a run occurred in the first half of the year of the Republic of China. The Ministry of finance of the national government took the opportunity to reorganize it and forced Gong Xianzhou, the former general manager, to resign. Hu Zu, director of the Treasury Bureau of the central bank, was appointed as the general manager of the bank. Soon after, the national government implemented the policy of legal currency and cancelled the bank's right to issue banknotes. In March of the 26th year of the Republic of China, the bank was further ordered to restructure. The original capital of 3.5 million yuan was converted into 526110 yuan of commercial shares by 15%. The national government offset it with Fuxing bonds, added 3473890 yuan of official shares, and synthesized a total capital of 4 million yuan. Fu Rulin was appointed as the chairman of the board and Zhou Shouliang as the general manager.

Address: Datong Road, Heping District, Tianjin

Longitude: 117.210514

Latitude: 39.12552