History
The opening of a branch of the Bank of China in Hong Kong in 1917 marked the entry of state-owned Chinese banks into the then colony's banking sector. Other banks soon followed suit, starting with Yien Yieh Commercial Bank in 1918.
By the time the People's Republic of China was established in 1949, there were 15 branches of state owned Chinese banks in Hong Kong, plus branches of nine Mainland-incorporated banks that were public-private joint ventures, namely:
- Sin Hua Bank Limited (SHB)
- China & South Sea Bank Limited (CSSB)
- Kincheng Banking Corporation (KBC)
- China State Bank Limited (CSBL)
- The National Commercial Bank Limited (TNCB)
- The Yien Yieh Commercial Bank Limited (YYCB)
- Young Brothers Banking Corporation
- Wo Sang Bank
- National Industrial Bank of China
In addition, the Chinese government established Po Sang Bank in 1949 and Nanyang Commercial Bank in 1950. Both of these were incorporated in Hong Kong.
Read more about this topic: Bank Of China Group
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