Bank of Communications is a large state-owned commercial bank, and joint-stock companies, like other large and medium-sized enterprises in the market, are not state-owned or foreign-funded.
Bank of Communications (full name: Bank of Communications Limited) was established in 1908. It is the oldest bank in China and one of the note-issuing banks in modern China. Now it is one of the top five state-owned banks in China. Bank of Communications is one of the major integrated financial service providers in China, and it is becoming a cross-market and international large-scale banking group with commercial banks as the main body. Its business scope covers commercial banks, investment banks, securities, trusts, financial leasing, fund management, insurance, offshore financial services and many other fields. 1987 was reorganized into the first joint-stock commercial bank in China, which was listed in Hong Kong and Shanghai in 2005 and 2007 respectively. This is the first large state-owned commercial bank listed overseas.
1. The Ministry of Finance of People's Republic of China (PRC), The Hongkong and Shanghai Banking Corporation Limited and the Social Security Fund Council are the top three shareholders of Bank of Communications, and * * * holds 59.44% of the shares of Bank of Communications. The wholly-owned subsidiaries of Bank of Communications include Bank of Communications Guo Xin, Bank of Communications Insurance and Bank of Communications Financial Leasing, and the holding subsidiaries include Bank of Communications Village Bank. In addition, Bank of Communications is the largest shareholder of Jiangsu Changshu Rural Commercial Bank and the largest shareholder of Tibet Bank.
2. As the first national joint-stock commercial bank in China, Bank of Communications has shouldered a dual historical mission since its re-establishment. It is not only the inheritor of a century-old national financial brand, but also the forerunner of China's financial system reform. Bank of Communications has achieved six firsts in the reform and development of China's financial industry, namely, the first source of capital and the form of property rights are joint-stock system; The first institution established according to the market principle and the cost-benefit principle; The first company broke the monopoly of the financial business scope and introduced the competition mechanism into the financial field; The first company introduced asset-liability ratio management to standardize business behavior and prevent business risks; The first to establish a new type of bank-enterprise relationship with two-way selection; The first comprehensive commercial bank that can engage in banking, insurance and securities business. The reform and development practice of Bank of Communications paved the way for the development of China's joint-stock commercial banks and played a catalytic, promoting and exemplary role in financial reform.