Bank Of China Shanghai Branch (1912 -1937)

Bank of China is the Central Bank in the period of Beiyang government and international exchange bank in the Chinese Nationalist Party's government. The Shanghai branch dominated Bank of China's business in the Shanghai district, and the brief name goes for Hu Hang. Because of the business centre and continuously developing base of Bank of China, so it is the most important subsidiary bank. The textual object is Shanghai branch, and the research age is from 1912 to 1937,for it's the most characteristic years. Through analysis and review on its affairs and operations, the paper will open out the phylogeny of Shanghai branch of Bank of China.Bank of Shanghai China established on February 5th in 1912, and it is the first organization for Bank of China, but in relevant documents, its position had been affirmed as national Central Bank by Nanjing provisional government. In August the same year, after the head office of Bank of China came into existence, it transformed for subsidiary bank. In early years, its mostly business was deputized treasury, and issuance for assistant. After successfully resisted the order to stop exchange sent by Beiyang government, Shanghai branch got good reputation and diversified business developed quickly. In the first decade of Nanjing Chinese Nationalist Party's government, Shanghai branch had more underling organizations, establishing many offices in Shanghai, supervising three subbranches transferred by head office and guiding them enlarged operations. In 1922, Bank of China practised territorial bank system formally and took Shanghai branch as the first region's ruling bank, dominating four subsidiary bank, managing issuance and dealing with debates among embranchment inside the area. In 1934, the first region's ruling bank reorganized, managing issuance affairs specially.Each operation of Shanghai branch had its feature.In relation to issuance, Shanghai branch firstly issued the national convertible note in 1917. When Shanghai note circulated to middle and lower reaches of the Changjiang River, encashment office set up respectively. In order to safeguard issuing reserve, from 1924, Shanghai branch put reserves turned by banks and native banks to take notes in special storehouse, and checked publicly. And in 1928, it inspected all the reserves in public. Domestic remittance was a main mode to promote issuance, and Shanghai branch is this operation's center in Bank of China in the 1930's.Foreign exchange business in...