It is the first bank run by China people and the earliest Chinese bank in Shanghai. After liberation, the people's government accepted the bureaucratic capital of commercial banks as public shares and transformed it into one of the public-private joint banks.
Extended information 1895, after the defeat of China in the Sino-Japanese War, westernization enterprises were seriously short of funds due to the need to pay huge reparations. China Commercial Bank, initiated by Sheng Xuanhuai, was established at No.6 Bund on May 27th, 1897. The paid-in capital is 2502 1 000,000 yuan, which comes from China Merchants Bureau and Telegraph Bureau headed by Sheng Xuanhuai, 782,000 yuan from Li Hongzhang and other officials, and the rest comes from commercial stocks.
The bank issued paper money on 1898 and stopped using it after 19 12. 19 19, Fu Xiaoan became the manager of China district and mastered the real power of the bank. 1934 The paid-in capital of this bank was 3.5 million yuan, ranking 15 among the major banks in Shanghai.
References:
Baidu Encyclopedia-China Commercial Bank