| In the process of China's early modernization, merchant organizations are one of the supremely important forerunners and promoters. Just because of this, "merchant organizations and modern China" has been the central issue in the academic field since 1980's. However, "merchant organizations and economic modernization" has received no ample attentions. If we make a comparative analysis on how merchant organizations promoted technical innovation, evolution in the economic and development in the market system after studying merchant organizations' political participation and national movements, we could have a clearer and deeper idea about merchant organizations' influences in the process of China's early modernization. Guild by Marxist dialectical materialism and historical materialism, the paper also takes the theories of network and transaction cost into consideration. After systematically analyzing on the evolution of Shanghai Bankers' Association and its achievements in promoting the development of banking between 1918 and 1936, the paper holds the view that the most prominent function of Shanghai Bankers' Association is to establish an advanced platform for resource sharing, in other words, a systematic network.With the systematized network, Shanghai Bankers' Association has not only formulated a series of rules and regulations to safeguard common interests of its members and restrain market behavior, but also established a standard among the member banks and between the banks and other trade, which helps maintain the mutual aid and cooperation, and contributes to keep cooperative relations and the continuity of commercial credit and contracts, and serves as the monitor over the systematic credit. Thus, by supervising the management and development of banks through the network, Shanghai Bankers' Association not only partially takes the place of the Market Coordination System, but plays the role of the Central Bank in some respects as well. It promotes the change from the supervision system of the linear mode of "Government-Banks" to a netlike mode of"Government-Association-Banks", and becomes an important means of financial market management in modern China.Standardizing business rules and promoting technical innovation is another important means for Shanghai Bankers' Association with its network system, to accelerate the development of banking. Depending on its ampler resources in finance, material and manpower, Shanghai Bankers' Association not only standardizes the accounting vocabulary but also sets up clearing and exchanging houses. And it also reestablishes the note-clearing system in Shanghai, promotes business contacts among member banks and non-member banks, and develops note market and business network.As a representative of banking, Shanghai Bankers' Association subconsciously expands its influence in the field of economic policies. The paper is designed to focus on its role and effects in reforming the currency system and establishing the legal system. Although linear management would break the link between the Bankers' Association and the government, Shanghai Bankers' Association has negotiated with the government in the way of "wide range, multiple channels" under the premise of "Benefit Equilibrium". It safeguards the legal interests of banking as well as promotes communication and dialogues between the masses' will and the government's will. What's more, the Association provides a basis for formulating and adjusting financial policies, which promotes the reforms in the financial system.As a defender of interests, a coordinator of management, a designer of development and a proposer of policies in business, Shanghai Bankers' Association helps improve the competitive power of banking and accelerate the development of banking to some extent, although there are still some drawbacks in the systematized network. Certainly, the evolution of Shanghai Bankers' Association was contingent not only on the development of banking, but also on the government action. So the succe... |
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