| « Previous | Back to contents | Next » |
CMB strategy: Never a state prop
HOME > PAST ISSUE > SPECIAL REPORT [Premium content]August 2007
The fundamental difference between China Merchants Bank (CMB) and its domestic competitors is that it was never intended as a cash point for local government projects.
It all started in 1986 when Chen Muhua, governor of the People’s Bank of China, visited Shenzhen and was petitioned by officials from China Merchants Group (CMG) who suggested the government establish a commercial bank in the region.
A year later CMB was founded as the first shareholding commercial bank wholly owned by corporate interests. It had one office, 36 employees and about US$13 million in registered capital.
“CMB was born with a unique strategy ...
A year later CMB was founded as the first shareholding commercial bank wholly owned by corporate interests. It had one office, 36 employees and about US$13 million in registered capital.
“CMB was born with a unique strategy ...
log in to continue reading...
 |
| « Previous | Back to contents | Next » |
To receive the best China business news that the market has to offer,
subscribe to the China Economic Review.
subscribe to the China Economic Review.