A History of Modern Shanghai Banking: The Rise and Decline of China's Finance Capitalism

Front Cover
M.E. Sharpe, 2003 - Business & Economics - 325 pages
As the center of capitalism in China, Shanghai banking provides a unique perspective for assessing the impact of the changes from financial capitalism to socialist planning banking in the early 1950s, and for evaluating the reform of China's banking system since the 1980s. This book offers a comprehensive history of Shanghai banking and capital markets from 1842 to 1952, and illustrates the non-financial elements that contributed to the revolutionary social and financial changes since the 1950s, as well as financial experiences that are significant to China's economic development today. The book describes the rise and fall of China's traditional native banks, the establishment of foreign banks, and the creation of modern state banks, while focusing on the colorful world of banking, finance, and international relations in modern Shanghai. It assesses the Chinese government's intervention in banking and finance during the Qing dynasty and the Republican era, as well as the concept of state capitalism after the establishment of the People's Republic. The author examines various modern-style Chinese banks through fascinating stories of Shanghai bankers. In addition, she provides detailed coverage of market-oriented international trade, banking associations, the conflicts between state and society, the government involvement in business, the management of foreign exchange, joint venture banks, wartime banking and finance, hyperinflation, corruption, and banking nationalization.
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

Origins of Shanghai Native Banks
3
The Origins of the Shanghai Native Banks
4
Money and Native Banks
7
Shanxi Banks
8
The Ningbo and Shaoxing Financial Groups
9
Shanghai Native Bankers Guild
11
Native Banks and Merchants
12
The Organization of Native Banks
13
The Bank of Chosen 1911
145
The Mitsubishi Bank 1916
146
The Mitsui Bank 1917
147
The Nishihara Loans 19171919
148
The American Banking Group
150
The National City Bank of New York 1915
152
The AmericanOriental Banking Corporation 1917
154
The American Express Company 1917
155

Native Banks Capital
15
Management of Native Banks
16
Functions of Native Banks
22
Shanghai Native Bankers Clearing Association
23
The Opening of Shanghai
26
Foreign Concessions 1845
27
Xianfeng Inflation 18511862
28
Foreign Trade and Native Banks
32
Shanghai Conventional Currency 1856
33
Creation of North and South Markets 18551862
36
The Rise of Foreign Banks 18471894
38
Foreign Trade and Foreign Banks
40
The Oriental Banking Corporation 1847
42
The Chartered Bank of India Australia and China 1858
43
The Hongkong and Shanghai Banking Corporation 1865
45
The DeutschAsiatische Bank 1889
50
The Yokohama Specie Bank 1893
52
Formation of a Comprador Class
54
The SelfStrengthening Movement and Finance
57
Early Industry in Shanghai
59
Russell Co and the China Merchants Steam Navigation Company
60
The Shanghai Railway
62
The Merchants Management Under Government Supervision System
63
Financial Crisis of 1883
65
The Expansion of Foreign Banks and the Search for National Banks 18951911
67
The Expansion of Foreign Banks
68
RussoChinese Bank and RussoAsiatic Bank 1895
70
Banque de lIndochine 1898
72
The Boxer Indemnity 1900
74
The International Banking Corporation 1902
76
Banque Belge pour lEtranger 1902
77
Nederlandsche HandelMaatschappij 1903
78
The Imperial Bank of China 1897
80
The Hubu Bank 1905 and the Daqing Bank 1908
84
The Bank of Communications 1908
85
Xincheng 1906 and Siming 1908
87
The Shanghai Financial Panic and the Revolution of 1911
90
The Rubber Stock Crisis 1910
92
Banking and the Revolution of 1911
93
The Reorganization Loan and International Banking Consortium
94
The Golden Age of Shanghai Banking 19121927
97
The Impact of Social Change on Banking and Finance
98
Government Bonds 19121926
104
The Development of Native Banks
106
Shanghai General Chamber of Commerce 19021929
109
The Growth of National Industry
112
The Golden Age of Shanghai Modern Banking
113
The Three Southern Banks
114
The Zhejiang Industrial Bank 1915
116
The Shanghai Commercial and Savings Bank 1915
118
The Four Northern Banks
121
The Yien Yieh Commercial Bank 1915
123
The Kincheng Banking Corporation 1917
124
The Continental Bank 1919
127
The China South Sea Bank 1921
128
Other Chinese National Banks
129
New Organizations of Shanghai Banking
130
The Shanghai Bankers Association
131
The Bankers Weekly 1917
133
The Native BankersMonthly 1921
134
The Shanghai Stock and Commodities Exchange 1920
136
The Rise of Chinese Finance Capitalism
137
New Foreign Financial Powers 19151930
141
The Japanese Banking Group
142
The Bank of Taiwan 1911
143
The Equitable Eastern Banking CorporationThe Chase Bank
156
The Underwriters Savings Bank for the Far East 1930
157
The Commercial Guarantee Bank of China
158
The Banque Industrielle de Chine
159
The Asia Banking Corporation
160
The ChineseItalian Banking Corporation
161
Shanghai Banking and the Nationalist Government 19281937
164
The Creation of Chinese State Banks
165
Shanghai Bankers and Chiang Kaishek
166
The 1928 National Economic and Financial Conferences
170
Tariff Autonomy
171
The Creation of the Central Bank of China 1928
172
The Reorganization of the Bank of China and the Bank of Communications 1928
174
The Postal Remittances Savings Bank 1931
178
The Farmers Bank of China 1935
179
The Central Trust of China 1935
181
The Currency Reform
182
The Abolition of the Tael and the Adoption of the Silver Dollar 1933
183
The Silver Purchase Act 1934
185
The Shanghai Financial Panic of 1935
188
The 1935 Currency Reform
190
Responses of Foreign Banks
195
The American Response
197
The Japanese Response
199
Consequences of the Currency Reform
201
Wartime Banking and Finance 19371945
204
The Isolated Island of Banking and Finance
205
Wartime Banking Organization and Financial Control
206
Foreign Exchange Management
207
The Exchange Stabilization Operation
209
Currency War
211
The Hua Hsing Bank 1939
213
The Central Reserve Bank of China 1941
214
The Pacific Wartime Finance and Inflation
215
The Revival of Native Banks
216
Wartime Inflation
218
Collapse of the Nationalist Monetary System 19451949
220
Postwar Banking Rehabilitation
221
The 1946 Banking Laws
222
Gold Scandals
224
The 1947 Economic Emergency Measures
227
Hyperinflation
228
The 1948 Economic Emergency and the Issuance of Gold Yuan
229
Collapse of the Nationalist Monetary System
233
The Socialist Transformation of Shanghai Banking 19491952
238
The Peoples Bank of China
239
The Takeover of Bureaucratic Capitalist Banks
241
Stabilizing the Renminbi
245
State Monopolies on Purchase and Distribution
246
The Unification of Economy and Finance
248
The Three Antis and Five Antis Campaign
249
The Merger of Native Banks and Other Private Banks
251
The Socialist Transformation
253
Conclusion
256
Afterword
261
Banking Recapitalization
263
Banking Privatization
264
Foreign Banking Opportunity
265
Banking Globalization
267
Notes
269
Glossary
293
Bibliography
299
Index
311
Copyright

Other editions - View all

Common terms and phrases

Bibliographic information