Bank of Communications, founded in 1908, is one of the four largest banks in China and one of the early note-issuing banks in China, and occupies an important position in the financial history of modern China. In the process of preparation, Bank of Communications adopted the form of joint venture between government and business, and it is a commercial bank with the nature of a joint stock limited company. The first thing Bank of Communications did after its establishment was to borrow money to redeem the operation right of Beijing-Han Railway. \x0d\\x0d\ After efforts, the right of way of Han Jing Railway was recovered in190865438+February. At first, Bank of Communications was a professional bank dealing with transportation, electric power and postal services. Later, it gradually developed into a commercial bank dealing with general banking business. The Bank of Communications borrowed the management methods of foreign commercial banks earlier, and was the first bank in China to set up overseas branches, which played a certain role in promoting the development of the early banking industry in China. \ x0d \ x0d \ 1928 The National Government promulgated the Regulations on Bank of Communications, which chartered Bank of Communications as a "bank for developing national industries" and became the second largest political and business joint bank at that time. From 65438 to 0935, the National Government formed a "four banks and two bureaus" financial system, which contributed to the development of modern industry in China. \ x0d \ x0d \ After the founding of New China, Bank of Communications was accepted by the new government. 1954, the Central Committee and the State Council decided to establish the People's Construction Bank of China on the basis of the original institutions and cadres of Bank of Communications. Starting from 1958, except for Hongkong Branch, the business of Bank of Communications in the Mainland was merged into the local People's Bank of China and the People's Construction Bank of China respectively. \ x0d \ x0d \1July 24, 986, in order to meet the requirements of China's economic system reform and development, the State Council approved the re-establishment of Bank of Communications in view of its great historical influence on China's finance and good international reputation. 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. \ x0d \ x0d \ Bank of Communications, as a pilot of financial reform, has achieved six firsts in the reform and development of China's financial industry, namely, the first source of capital and the form of property rights are shareholding system; The first institution established according to the market principle and the cost-benefit principle; The first company broke the monopoly of the financial business scope and introduced the competition mechanism into the financial field; The first company introduced asset-liability ratio management to standardize business behavior and prevent business risks; The first to establish a new type of bank-enterprise relationship with two-way selection; The first comprehensive commercial bank that can engage in banking, insurance and securities business. \ x0d \ x0d \ 1994. The rapidly developing Bank of Communications has become the fifth largest bank in China, and its assets rank 19 1 among the global banks, making it an influential large commercial bank at home and abroad. In order to adapt to the change of the situation and the need of its own reform, Bank of Communications has implemented the reform from multi-level legal person system to first-level legal person system. After the unification of the legal person system, the management of Bank of Communications is more standardized, and its social influence and market image are further enhanced. The reform and development practice of Bank of Communications has explored the road for the development of China's joint-stock commercial banks and played a catalytic, promoting and exemplary role in financial reform. \ x0d \ x0d \ 2006 June 2006, in the process of deepening financial reform in China, the State Council approved the overall plan of deepening the shareholding system reform of Bank of Communications, with the goal of turning Bank of Communications into a modern financial enterprise with perfect corporate governance structure, sufficient capital, strict internal control, safe operation, good service and efficiency and strong international competitiveness. In deepening the shareholding system reform, Bank of Communications completed financial restructuring, successfully introduced domestic and foreign strategic investors such as HSBC, Social Security Fund and Central Huijin Company, and made efforts to promote the benign transformation of institutional mechanisms. \ x0d \ x0d \ 2005 June 23rd, 2005, Bank of Communications successfully listed in Hong Kong, becoming the first mainland commercial bank in China to list overseas. On May 15, 2007, Bank of Communications successfully issued A shares in Shanghai. \ x0d \ x0d \ At present, Bank of Communications has developed into a modern commercial bank with a century-old national brand with clear development strategy, perfect corporate governance, sound institutional network, advanced management, excellent financial services and good financial status. Bank of Communications is now the fifth largest bank in China; Ranked by total assets, it has become one of the top global banks 100.