Bank of Communications, founded in 1908, is one of the oldest banks in China and one of the note-issuing banks in modern China. 1 987 April1day, the newly established Bank of Communications officially opened to the outside world, becoming the first national state-owned joint-stock commercial bank in China, with its head office in Shanghai.
The business scope of Bank of Communications Group covers commercial banks, offshore finance, funds, trusts, financial leasing, insurance, overseas securities, debt-to-equity swaps and asset management. By the end of June 20 19, there were 242 domestic branches of Bank of Communications, including 30 provincial branches, 7 directly affiliated branches and 205 provincial branches, with 3 176 outlets in 242 cities above prefecture level and 162 counties or county-level cities.
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The historical evolution of Bank of Communications;
1908 (thirty-four years of Guangxu), Bank of Communications was established. After the founding of the Republic of China, the Bank of Communications was entrusted by the Central Bank to undertake the revenue and expenditure of the national treasury and exchange the national currency with the Bank of China.
1928, the Legislative Yuan of the National Government passed the Regulations on Bank of Communications, and Bank of Communications became a specialized bank to help farmers and workers. When Bank of Communications was founded, its headquarters was located in Beijing.
195 1 year, the head office of Bank of Communications moved back to Shanghai, and the Shanghai Bund 14 was stationed by the Shanghai Federation of Trade Unions. 1958 except for the hongkong branch, the domestic business of bank of communications was merged into the local people's bank of China and the people's construction bank of China established on the basis of bank of communications.
1July 24th, 986 In order to adapt to the reform and development of China's economic system, the State Council approved the reorganization of Bank of Communications as a pilot of financial reform. 1 987 April1day, the newly established Bank of Communications officially opened to the outside world, becoming the first national state-owned joint-stock commercial bank in China. It was listed on the Hong Kong Stock Exchange on June 23rd, 2005, becoming the first mainland commercial bank in China to be listed overseas.
China Bank of Communications-Brief Introduction of Bank of Communications