What state-owned banks are there in China?

The state-owned banks include Bank of China, China Construction Bank, China Development Bank, Export-Import Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of Communications, Agricultural Development Bank of China, and Postal Savings Bank of China.

Nation-Owned Banks, that is, state-owned banks, refer to large banks directly controlled by the state (Ministry of Finance, Central Huijin Corporation).

In December 1948, the People's Bank of China was established.

After 1949, on the basis of confiscating the bureaucratic capital banks, banks in various revolutionary base areas were organized, and under the leadership of the People's Bank of China, the original bureaucratic capital banks were reorganized into the new Bank of China and Communications. Bank and Agricultural Cooperative Bank. Later, the People's Construction Bank of China and the Agricultural Bank of China were newly established and reorganized.

From 1953 to 1955, after liquidating assets and capital, adjusting business and implementing savings specialization, the institutions and businesses of public-private joint venture banks were merged into the People's Bank of China, thus establishing a new centralized and unified financial system.

In September 1983, the State Council issued a decision on the People's Bank of China to exclusively exercise the functions of the central bank. The People's Bank of China became the national institution for unified financial management, and other professional banks became economic entities.

In December 1981, in order to raise construction funds from abroad and apply for investment credit, my country established the China Investment Bank. The China Investment Bank has its head office in Beijing and is an independent corporate legal person. As a national specialized bank, in accordance with the state's requirements for state-owned enterprises, it implements independent accounting and is responsible for its own profits and losses.

In 2003, in order to reform the then banking regulatory system, the State Council decided to establish the China Banking Regulatory Commission. On April 28 of the same year, the China Banking Regulatory Commission was officially established; on December 27, the Banking Supervision Law was promulgated.

In October 2003, the resolution of the Third Plenary Session of the 16th CPC Central Committee further clarified that qualified state-owned commercial banks should be selected to implement joint-stock restructuring, speed up the disposal of non-performing assets, enrich capital, and create conditions for listing. Taking the road of joint-stock reform is the strategic choice for state-owned banks to get out of the current predicament.

On December 16, 2003, Central Huijin Investment Co., Ltd. was registered and established.

On January 6, 2004, the central government creatively used foreign exchange reserves to inject capital into large commercial banks: Huijin used foreign exchange reserves of US$45 billion (a total of 372.465 billion yuan) to invest in Bank of China and China Construction Bank , and the introduction of strategic partners marked the beginning of the joint-stock reform of state-owned commercial banks.

In August 2004, Bank of Communications introduced HSBC as a strategic investor. HSBC purchased 19.9% ??of Bank of Communications’ equity, or 7.775 billion shares, at a price of RMB 1.86 per share, becoming the only It is the second largest shareholder after the Ministry of Finance, with an investment amount of US$1.747 billion.

On August 24, 2004, Bank of China Co., Ltd. was officially established.

On September 21, 2004, China Construction Bank Co., Ltd. was officially listed, marking the completion of the joint-stock reform of Bank of China and China Construction Bank.