Abbreviations Chinese Financial Markets C: People's Bank of China By Zhang Xiao BOC: Bank of China ICBC: Industrial and Commercial Bank of China CCB: China Construction Bank Lecture 3: Reform of Chinas Banking Syste BoCom: Bank of Communication PSBC: Postal Savings Bank of China JSCB: Joint-stock Commercial Banks Abbreviations Topics Covered AMC: Asset Management Company History of Chinas Banking System SAFE: State Administration of Foreign Exchange CBRC: China Banking Regulatory Committee Current Banking System in China CIRC: China Insurance Regulatory Committee Reform of socbs CSRC: China Security Regulatory Committee MOF: Ministry of Finance CIC: China Investment Co SOE. State-owned NPL: Non-performing Loans Origin of Banks in Ancient China Bank rudiment emerged 1000 years ago( Tang 3.1 History of Chinas Banking System Institutions providing deposit and loans, money exchange, trade financing formed up and developed in Song, Ming and Qing e village): silver standard The worlds first paper-printed currency was innovated in Song era(960-1279). The financial system adopted Partnerships in money villages formed in early 1900s1 Chinese Financial Markets By Zhang Xiaorong Lecture 3: Reform of China’s Banking System 3-1 3-2 Abbreviations — PBC: People’s Bank of China — BOC: Bank of China — ICBC: Industrial and Commercial Bank of China — CCB: China Construction Bank — ABC:Agricultural Bank of China — BoCom: Bank of Communication — PSBC: Postal Savings Bank of China — SOCB: State-owned Commercial Banks — JSCB: Joint-stock Commercial Banks 3-3 Abbreviations — AMC:Asset Management Company — SAFE: State Administration of Foreign Exchange — CBRC: China Banking Regulatory Committee — CIRC: China Insurance Regulatory Committee — CSRC: China Security Regulatory Committee — MOF: Ministry of Finance — Huijin: China Huijin Investment Co. — CIC: China Investment Co. — SOE: State-owned Enterprises — NPL: Non-performing Loans Topics Covered — History of China’s Banking System — Current Banking System in China — Reform of SOCBs 3-4 3.1 History of China’s Banking System 3-5 3-6 Origin of Banks in Ancient China — Bank rudiment emerged 1000 years ago (Tang era, 618-907) — Institutions providing deposit and loans, money exchange, trade financing formed up and developed in Song, Ming and Qing eras — Piaohao (bills shop) vs. Qianzhuang (money village);silver standard — The world's first paper-printed currency was innovated in Song era (960-1279). — The financial system adopted Partnerships in money villages formed in early 1900s