The Socialist Transformation And Management Of Han Kou Old-style Chinese Private Bank At The Early Days Of PRC(1949-1952)

During the initial post-liberation period,affected by war and regime change,“gold yuan"notes was depreciation,the old-style Chinese private bank had bad management.So the government set up a financial department and enact a series of financial laws to sort it out and manage it.The financial order gradually became stable.Old-style Chinese private bank began to reopen.At that time,the government needed to put social capital into production.The old-style Chinese private bank has a close relationship with social capital.Therefore,Wuhan government decided to help the old-style Chinese private bank to resume and began to transform the old-style Chinese private bank in a planned and step by step.After the initial transformation of the government,the old-style Chinese private bank improved its operation rules and identified its business objects,and its operation was further managed by the government.In the process of socialist transformation,the private financial industry is not only passively accepting the government's guidance and management,but also transforming itself to adapt to the new social situation.As the financial and economic unification,the country's financial joint meeting,due to the impact of interest rate reduction and other aspects,the bank again fell into operating difficulties.The old-style Chinese private bank also found that the organization form of the past,such as mode of operation are not very good to adapt to the new social changes.For the old-style Chinese private bank,if they want to get out of the predicament and continue to operate,they must transform themselves to adapt to the new social environment.As a result,the old-style Chinese private bank have set up three affiliated groups.The bank reformed itself in the aspects of operation system and ideological understanding.After the association of Banks in the operating system more standardized,political awareness and collective awareness has significantly improved.After joint operation,the business of the old-style Chinese private bank presents a new development situation.Banks deposit excess savings in state Banks,tighten credit lending at the behest of the government and join a joint lending office.In this stage,although the old-style Chinese private bank can play a collective role to turn some the old-style Chinese private bank from losses to profits,their business development is further influenced by national Banks,and their operating space is restricted.After discussion,the the old-style Chinese private bank finally chose to merge into Wuhan united coxmercial bank,forming a public-private bank for farther development.Although it was became the public private joint venture bank,but the business development still fell into the difficulty.And after the movement against the three evils and the five evilsit was transferred to the local production transportation and sales industry,completely withdrew from the Wuhan market1949-1952 was a period in the financial history of China when the private financial industry carried out socialist transformation and completed public-private partnership for the whole industry.Although the private financial industry has been socialist transformation in many places except in Wuhan.It can be found that the transformation of old-style Chinese private bank in different regions also has its own characteristics.In general,Hankou old-style Chinese private bank did not enter into the joint management stage like Tianjin and Shanghai,but directly merged into a public-private bank.This is mainly caused by the small scale of Hankou old-style Chinese private bank,their weak capital,their failure to achieve better development after joint venture and the great influence of state Banks on them.