Urgent: The Origin and Development of Banking in China

Origin:

The word bank, originated from the Italian Banca, its original meaning is bench, chair, is the earliest market money changers business appliances. English translated into Bank, meaning the cabinet for money. In our country, the reason why there is "bank" is related to the history of our economic development.

In our history, silver has been one of the main monetary material. The word "silver" often represents money, while "bank" is the title of a large commercial organization. The term "bank" for a large financial institution that handles silver and money was first used in the "New Essay on Capitalism" by Hong Rengan of the Taiping Heavenly Kingdom.

Development history:

China's banking industry asset size, after-tax profits have grown dramatically year by year, and in 2011 the profits realized by China's banking industry accounted for nearly one-third of the global banking industry's total profits. The scale of China's banking industry is developing rapidly, but with the accelerated marketization of interest rates, intensified internal and external competition, and declining profit growth, banks and financial institutions must make corresponding strategic adjustments to their business structure, resource allocation, and regional layout.

And with the continuous intensification of competition in the banking industry, the banking financial institutions are paying more and more attention to the industry's development environment and market demand tracking research, especially on the development of the banking business environment and customer demand trend changes in-depth study. Because of this, a large number of domestic outstanding banking institutions quickly rise, and gradually form their own business characteristics and become the industry's leading or new.

Extended information:

Bank classification

1, central banks: such as, The People's Bank of China (The People's Bank of China, PBC), the Federal Reserve, the Bank of England.

2. Regulatory bodies: such as, China Banking Regulatory Commission (CBRC), referred to as CBRC.

3. Self-regulatory organizations: for example, China Banking Association (CBA).

4. Banking financial institutions: including policy banks, five large commercial banks (Industrial, Agricultural, Construction, China and Transportation), 12 national joint-stock small and medium-sized commercial banks (China Merchants, Pudong Development, CITIC, Minsheng, Industrial, Ping An, Everbright, Huaxia, Guangfa, Zheshang, Bohai and Hengfeng), urban commercial banks, rural commercial banks (rural credit cooperatives),

Chinas Postal Savings Bank, foreign banks, non-banking financial institutions (microfinance companies), village and township banks, and so on.

Baidu Encyclopedia-Banks