On the fourth day of November in Guangxu's thirty-third year, Chen Bi, Minister of the Postal Department of the Qing Dynasty, wrote to the court, requesting to set up a bank to recover the mail. The fourth participation in politics was aimed at revitalizing industry and restoring interest rights, which initiated the modern banking operation in China. So Empress Dowager Cixi approved the memorial and established the Bank of Communications.
Bank of Communications is one of the four state-owned commercial banks in Chinese mainland. Founded in 1908, formerly known as Shanghai Urban Land Company. 192 1 changed its name to Bank of Communications, becoming the first large bank established by national capital in China at that time.
The original intention of Bank of Communications was based on Causeway Bay Trust. Its founder Liang Qichao and others hoped to improve the long-term lending business in China at that time and solve the long-term lending problem through the Causeway Bay trust model. With the passage of time, Bank of Communications has continuously improved its business and gradually grown up.
1949 before and after the founding of new China, Bank of Communications ushered in the opportunity of leap-forward development. From 65438 to 0954, Bank of Communications became the first bank in China to implement the deposit-loan integration system, which was also a great pioneering work in the banking history of China.
In the 1980s, China's banking industry began to carry out reform and opening up, and Bank of Communications also began to pay attention to introducing advanced technology from outside to improve service quality and efficiency. Since then, Bank of Communications has continuously promoted business innovation and institutional mechanism reform, and gradually grown into one of the four major state-owned commercial banks in China, with business scope including commercial banks, investment banks and trust companies. At the end of 20 19, the total assets of Bank of Communications exceeded 7.5 trillion yuan, ranking among the top 500 enterprises in the world.
Bank of Communications has been playing an important role in China's banking industry. With wide business coverage and huge customer base, it is also one of the banks with leading technology and the most product innovations in China banking industry. Bank of Communications has also established extensive business contacts and close cooperative relations with many international financial institutions, and participated in many financial projects with international influence.
Development of banks
1. With the advent of the digital age, the development model of banks is gradually changing, and digital transformation has become industry knowledge. As one of the banks that started digital transformation earlier in China, Bank of Communications has achieved a major transformation from offline to online, and is currently promoting the application of technologies such as cloud computing, big data and artificial intelligence. In addition, Bank of Communications is actively promoting financial technology innovation, cooperating with Internet companies to develop inclusive finance business and build an eco-financial system.
2. With the rapid development of science and technology and the escalating needs of users, the banking industry is facing more and more complex challenges and opportunities. Bank of Communications will continue to take customers as the center and inclusive finance as the guide, deepen digital transformation, promote financial technology innovation, and help China's high-quality economic development.