1 1979, citic became the first trust and investment company after the reform and opening up. 1980s, Agricultural Bank, China Bank, China Construction Bank and Industrial and Commercial Bank were established one after another, and their business scope was defined by a fixed division of labor, so that funds were distributed from top to bottom in the system. These four banks provide financial services for rural areas, foreign exchange, capital construction and urban industry and commerce respectively.
65438-0984 organized a financial system reform research group to study the comprehensive management problem, and basically formed two opinions: one is to agree with the German model and department store management; The other is a strict separate management model represented by Japan. China is still in the primary stage of the transition from a planned economy to a market economy, and the German model is difficult in macro-management, so it is decided to separate operation and supervision. However, it was later decided to take Bank of Communications as the experimental field and conduct a comprehensive operation pilot alone.
1 987 April1day, as the experimental field of joint-stock, comprehensive and modern commercial banks, Bank of Communications was re-established. It can engage in local and foreign currency business, short-term and long-term loan business, and various non-bank financial businesses such as insurance, securities, trust, investment and real estate, and become the first comprehensive pilot bank in New China. The reorganization of Bank of Communications has broken the division of funds between urban and rural areas, industry and commerce, and at home and abroad.
2 1986 CCB established China investment consulting company; China People's Construction Bank Trust and Investment Company was established in1987; During the period of 1989, China Construction Bank and other domestic and foreign institutions established Youlian International Leasing Co., Ltd., the largest leasing company in China at that time.
31987165438+10, Bank of Communications Shanghai Branch started insurance business. 199 1 On April 26th, Bank of Communications established a wholly-owned subsidiary insurance company-Pacific Insurance Company, with Dai Xianglong, President of Bank of Communications as the chairman, and drew up a famous advertising slogan for CPIC-"Pacific Insurance Guarantees Peace". Pacific Insurance Company became the second national and comprehensive insurance company after China People's Insurance Company. 1On March 9, 1995, Pacific Insurance Company was fully funded by Bank of Communications and transformed into a national joint-stock commercial insurance enterprise controlled by Bank of Communications.
41988 In September, Bank of Communications established Shanghai Haitong Securities Company on the basis of its securities department with a registered capital of100000 yuan, which is one of the earliest securities companies in New China. 1In August 1992, Shanghai Haitong Securities Company was reorganized into a joint stock limited company, and the general manager responsibility system was implemented under the leadership of the board of directors. 1994 65438+ 10, Haitong was restructured into a national securities company with a registered capital of 10 billion yuan, which is a holding subsidiary of Bank of Communications, and its headquarters and branches are no longer engaged in securities business. On September 27th, 1994, "Haitong Securities Co., Ltd." was formally established, with Dong Wenbiao as the chairman and general manager.
In May1993165438+10, Bank of Communications clearly outlined the financial group model of mixed operation, "insisting on comprehensive operation and separate operation, and gradually forming the traditional commercial banking business system operated by Bank of Communications and the non-bank financial business system with subsidiaries and holding subsidiaries as the main body."
6 1995, China Construction Bank and Morgan Stanley jointly established China International Capital Corporation, the first real investment bank in China.
Since the second half of 7 1992, financial institutions have been operating in violation of regulations seriously, and the risks have been concentrated and the financial order has been chaotic. 1February 25, 1993, 1993 "Decision on Financial System Reform" was issued, stipulating that "state-owned commercial banks shall not invest in non-financial enterprises" and "they shall be separated from insurance, trust and securities industries in terms of people, money and materials, and operate separately." From 65438 to 0995, People's Republic of China (PRC) Commercial Bank Law, China People's Bank Law and Insurance Law were also promulgated and implemented one after another, marking the establishment of the separate operation pattern of China's financial system.
8 1996 Bank of China registered an investment bank in London and later moved to Hongkong. 1998 BOC International was established in Hong Kong and is the first Chinese investment bank. Its predecessor was China Construction Finance (Hong Kong) Co., Ltd., which was established in 1979. Subsequently, BOC International established a joint venture with five large enterprises in the Mainland to establish BOC International Securities Company, and invested in Bohai Industrial Investment Fund, the first industrial fund in China.
91On August 28th, 1999, Bank of Communications and Shanghai formally signed the transfer agreement, and Pacific Insurance Company and Haitong Securities Company were officially "decoupled" from Bank of Communications and placed under the leadership of Shanghai, and all the capital contributions and related rights and interests of Bank of Communications in the two companies were also transferred at the same time.
/10 2002 in March 2002, China Construction Bank became the first commercial bank in China to carry out financial consulting business with the approval of the People's Bank of China. In 2003, in order to promote the development of investment banking, CCB established a special investment banking department.