After the outbreak of the Revolution of 1911, Daqing Bank went bankrupt and liquidated. 1965438+On February 5, 2002, China Bank opened in the former site of Shanghai Daqing Bank upon the application of its commercial unit and the approval of the new government. 1965438+In April 2003, the Senate passed Article 30 of the Articles of Association of the Bank of China, stipulating that China Bank is a joint stock company with a total share capital of 60 million yuan, with its head office in Beijing and Shanghai China Bank as a branch. Beiyang government stipulated that China Bank was the national central bank, acting as the national treasury, raising and repaying government bonds, issuing bank notes, casting and issuing national currency.

19 14, the bank of communications amended its articles of association, increased its share capital by 1000000, continued to manage the revenues and expenditures of the four governments, and obtained the rights of acting as an agent for the national treasury, paying the principal and interest of the national debt, collecting taxes, issuing paper money, etc., and became a de facto national bank.

Second, the wave of Beijing paper money.

Due to the excessive issuance of banknotes by Bank of Communications, the strength of the bank has been weakened and the credit base has been shaken. In this case, Liang Shiyi, Yuan Shikai's confidant and long-term master of the real power of Bank of Communications, and Xu Shuzheng, Duan's confidant, issued banknotes that could not be cashed. However, the news leaked, the wind came, the market shook, and the wave of bank runs quickly occurred in Beijing and Tianjin. 1965438+In May, 2006, Beiyang government brazenly ordered China Bank and Bank of Communications to stop exchanging banknotes and deposits. So the two banks in Beijing and Tianjin stopped paying in an all-round way, and other places began to stop paying. These banknotes were then known as Beijing banknotes. After Beijing paper money stopped being cashed, people threw out paper money and snapped up commodities, which led to rising prices, falling currency, rampant speculation, stagnant transactions and market chaos. This is the wave of paper money in Beijing, Tianjin and other places in the early 20th century.

Third, develop national capital banks.

After the Revolution of 1911, the national capital banks developed rapidly. 19 12- 1927, there are 186 new banks nationwide, with an average of 1 1.6 new banks each year. Some famous banks were established during this period. Mainly includes:

South three banks: Shanghai Commercial Savings Bank, Zhejiang Industrial Bank and Zhejiang Industrial Bank.

North 4th Bank: Jincheng Bank, Salt Industry Bank, Central South Bank and Mainland Bank.

Fourth, the sustainable development of banks.

On the eve of the Revolution of 1911, banks in Shanghai were still in the aftermath of the rubber storm, and there was a financial panic in Shanghai during the Revolution of 1911. At the beginning of 19 12, a large number of banks closed down, and the number decreased from 19 1 1 to more than 20. Since then, with the influx of a large number of funds into Shanghai, private banks have increased their financial strength, and private banks have also tended to be stable and further developed. By 1926, there are 87 banks in Shanghai. Both capital and profit have increased.

Reasons for the continuous development of banks:

1. During the First World War, China's national capitalism developed greatly. The development of industry and commerce needs the support of banks, and enterprises and banks have a long history of contact. Most of them have connections with banks, but not many.

2. Some banks also rely on the bank's agent to collect bank bills in the bank, which increases the bank's financial strength.

3. Foreign banks still accept Zhuang votes to support private banks.

Verb (abbreviation of verb) the emergence of trust companies and exchanges and the "wave of information exchange"

After World War I, imperialist economic aggression against China came back, and frequent civil wars affected it. From the second half of 1920, industry and commerce began to stagnate. A large number of foreign goods are not easy to flow to the mainland; After the war, foreign markets shrank and the output of traditional export materials also decreased a lot. In this depressed economic situation, there is no way for social hot money. Therefore, trust companies and exchanges in capitalist countries have been applied to China, becoming a new industry in China's financial industry.

Shanghai Trust Company was established in 192 1. From May to July of the same year, two trust companies 12 were established in Shanghai with a capital of 8 1 10,000 yuan, among which the central trust company organized by Shaoxing Bangqianzhuang had the greatest influence. It was established in 192 1 with an initial capital of 65438. The establishment of trust companies still lacked social and economic foundation, and their establishment was mainly driven by speculation, so they closed down shortly after their establishment, leaving only the Central Committee and Yi Tong.

As early as the second half of the19th century, foreign investors started securities trading. 1905 Shanghai MCC office set up by foreign investors is a place for foreign investors to trade securities. 19 14 12. The Beiyang government promulgated the Securities Exchange Law, and in May of the following year promulgated the Detailed Rules for the Implementation of the Securities Exchange Law, so the Chinese Stock Exchange began to apply for the establishment. 19 19 At the beginning of this year, the Beijing Stock Exchange was established, which is the first officially opened stock exchange in China. In July, 1920, the Shanghai Stock Exchange opened. 1921may, Shanghai huashang stock exchange, the predecessor of Shanghai stock exchange, was established and opened. Exchanges have made a lot of profits, so various exchanges have been set up, forming a craze for setting up exchanges at one time. By the summer and autumn of 192 1, there were more than 40 exchanges in Shanghai. Most of these exchanges are unapproved, with insufficient paid-in capital, and are mainly engaged in short-selling speculation.