China Merchants Bank is a commercial bank in Chinese mainland, established in 1987 and headquartered in Shenzhen, Guangdong Province. According to the laws of China, China Merchants Bank is a limited liability company (hereinafter referred to as "the company"), not a state-owned enterprise or a private enterprise, but a joint-stock enterprise.

In China, commercial banks are financial institutions authorized and supervised by the State Council, including state-owned commercial banks, joint-stock commercial banks, city commercial banks and rural credit cooperatives. State-owned commercial banks refer to enterprises directly or indirectly controlled by China government, such as China Industrial and Commercial Bank and China Agricultural Bank.

China Merchants Bank is not directly or indirectly controlled by the government, so it does not belong to the category of state-owned enterprises. It should be noted that although China Merchants Bank is not a state-owned enterprise, its founder and current chairman are Mr. Ma, a famous entrepreneur and philanthropist in China, who is one of the founders of Tencent Holdings Limited, a famous Internet company in China.

The history of China Merchants Bank

The history of China Merchants Bank can be traced back to 1987, when it was a small bank named "Shenzhen Development Bank". 1In the early 1990s, due to the rapid economic development of China and the implementation of the opening-up policy, foreign banks began to flood into the China market.

In order to meet the demand of domestic enterprises for foreign banking services, Shenzhen Development Bank began to introduce foreign advanced management experience and technology, and gradually transformed into an internationally competitive commercial bank. From 65438 to 0996, SDB was officially renamed as "China Merchants Bank" and China Merchants Group was the major shareholder.

Since then, China Merchants Bank has continuously expanded its business in China, opening branches in Beijing, Shanghai, Hong Kong and other places, and launching various financial products and services such as personal credit cards, corporate loans, investment and wealth management. In short, the history of China Merchants Bank can be summarized as the development process from small to large and from weak to strong.

Reference to the above content: Baidu Encyclopedia-China Merchants Bank