Exit The Early Liberation Of Foreign Banks In Shanghai (1949-1956)

Foreign bank as a kind of privilege under the special historical background of thecommercial banks, increasingly attracted academic more and more attention andresearch interest. After the Opium War,foreign banks into China market and occupy aprominent position, while foreign banks after the founding of new China and theimpact of changes in the system of international environment, foreign banks face theimpact and challenge. Based on the early for the historical period in Shanghai foreignbanks as the research object, trying to show the Shanghai foreign banks to exit theprocess after liberation.Be mentioned in the same breath and business on the eve of the liberation ofShanghai foreign bank status did not and before the war, but still actively trying tostage a comeback of the potential business. After the liberation of the Chinese patternchange trend, become dark figure poor potential. After the founding of new China,general guidelines and policies on the economy is to eliminate all the privileges offoreign capitalism in China, foreign banks lose privilege in a difficult position.Shanghai foreign banks by international environmental impact of institutionalenvironment of new China and the Korean War, and the Chinese people’s ideologicalconsciousness to improve, the rapid development of China’s state-owned banks,which eventually quit the stage of history. Shanghai foreign banks in the proposedbusiness application to the relevant authorities to the Chinese government and people,to apply for approval of foreign bank to pay the total outstanding debt, and thewithdrawal of China officially closed. The British HSBC and Standard CharteredBank because of its long history has important influence continued to leave thebusiness in china.Foreign bank exit, t is propitious to control China’s resumption of foreign trade,the development of China’s foreign trade. Removal of foreign banks operating inChina’s foreign exchange management and financial privilege, is conducive to theestablishment of socialist new China stand on one’s own foreign exchangemanagement system and the foreign exchange management system. Eliminate foreigncurrency circulation, beneficial to cancel the foreign bank monopoly of China’sforeign exchange market. The foreign bank’s exit is conducive to development ofChina’s banking industry.