After the Opium War, five trading ports were opened all over the country, and the door of Chinese and foreign trade was completely opened. Western powers dumped a large number of goods to China. Out of the need of trade, those capitalist powers came to China to open banks. Foreign banks operated all banking business in China, issued paper money, absorbed deposits, borrowed foreign debts from the Qing government, took charge of customs duties in China and manipulated the financial and economic lifeline of China. These predatory foreign banks became the base camp for their economic aggression against China. ? For example, from 1845, Shen Shukai, boss Guo Rong and general manager Hong Hongru saw foreigners set up in China, and successively opened Credit Suisse Bank, Daosheng Bank, Dehua Bank and HSBC Bank in China, and the number was increasing. At that time, China had a private chain bank in Shanxi, China, and later went to Japan to open the first overseas chain bank in China.

1894, China was defeated in the Sino-Japanese War and signed the treaty of shimonoseki with Japan, which invaded Yingkou in the north and Penghu in the south. ? He Shengyuan? The semicolon in Yingkou suffered greatly, closed down and was on the verge of bankruptcy. To this end, the owner Guo Rong held a special meeting to discuss emergency measures and check the semicolon business. Because? Yingkou is occupied, and foreign banks are likely to squeeze in. Our bank is facing great challenges. If we don't rectify the semicolon and develop boldly, we will be in danger of bankruptcy. Depositors in banks always take official money as the bulk, and loans are only given to banks, officials and well-off businesses. Yingkou is located in the bay. During the Sino-Japanese War of 1894-1895, depositors withdrew money in succession, but borrowers could not get it back, and those who borrowed it again dared not borrow it. Then, the Japanese invaders invaded Yingkou, causing social unrest, and there was no large-scale remittance and deposit business. Japanese businessmen who invaded one after another not only did not dare to communicate with each other, but also had great hostility and vigilance. Japanese businessmen are also wary of China businessmen. For all these reasons, banks are in a desperate situation. ?

After the Opium War broke out, especially after Eight-Nation Alliance invaded China, Sino-Japanese trade developed rapidly, and Japan's total import and export trade exceeded that of Britain. Because of the growth of trade, the Qing government at this time had no time to estimate overseas trade. In addition, there are countless overseas businessmen in China and Japan, and there are no fewer than 10,000 overseas students. Because there are no banks in China in their country, their deposits and loans are very embarrassing, which is not only difficult, but also worrying.

In particular, foreign banks handle overseas Chinese business and trade remittances, which not only leads to profit outflow, but also causes financial institutions to manipulate people, which greatly hinders China's business. After careful consideration, Hong Hongru, the boss of Shanxi Heshengyuan Ticket Village, decided to launch a financial competition with Japan. In the winter of Guangxu thirty-two years (1906), Shen Shukai led a group of friends to open a semicolon in Japan with huge sums of money and braved the cold. After some documentary proof and time waiting, the first overseas bank in China finally opened.