Chinese-funded banks are the collective name of all banks invested by China people, not just the name of any one bank. China Commercial Bank, the first capitalist Chinese bank in China, was established in Shanghai on May 27th. 1897.
In other words, a Chinese-funded bank named China Commercial Bank was established in Shanghai on May 27th. 1897.
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At the beginning of the establishment of Tongshang Bank, the state granted the privilege of issuing two kinds of banknotes, silver dollar and silver, for private use and as a hub for sorting out the monetary system. At this point, China began to see that domestic paper money was on a par with foreign bank paper money, and financial power was no longer controlled by foreign banks. In addition to issuing banknotes, the bank also collects banknotes and has set up branches in all major provinces in China.
Important places are Beijing, Tianjin, Baoding, Yantai, Hankou, Chongqing, Changsha, Guangzhou, Shantou, Hong Kong, Fuzhou, Jiujiang, Changde, Zhenjiang, Yangzhou, Suzhou, Ningbo and other places, and the business is extremely prosperous.