China Minsheng Bank (), founded on January 12, 1996, in
Beijing
}
Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...
, is the first bank in China to be owned mostly by
private sector
The private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government.
Employment
The ...
enterprises.
The bank was founded by
Jing Shuping
Jing Shuping (, 7 July 1918 – September 14, 2009) was a Chinese businessman who founded the Minsheng Bank, the first privately owned bank to open in the Communist People's Republic of China, in 1996.
Jing Shuping graduated from Saint John' ...
, a Chinese lawyer and businessman.
Minsheng Bank is well known for focusing on making loans to small-medium enterprise. It has over two hundred banking outlets throughout China and relationships with more than seven hundred banks overseas.
The bank was
publicly listed on the
Hong Kong Stock Exchange in 2009.
Business description
Strategic positioning
Officially established on 12 January 1996, CMBC initially formulated its strategic positioning of non-state-owned, high-tech, and large enterprises. Nonetheless, the orientation ended in failure with 8.72% of the non-performing loan rate and 40% loss of Return On Equity (ROE) until 1999.
For reversing the unfavourable prospect, CMBC initiates continuous internal reformation such as the replacement of leadership in April 2000
and “the enterprise business and divisional organisation reform” in 2007.
In 2009, CMBC confirmed its strategic positioning that fundamentally focuses on private, small and medium corporations and advanced technological businesses, offers moderate risk-taking and heterogeneous financial products and services, and dedicates to expanding path to profitability.
In 2011, CMBC innovated its orientation by establishing “a ‘customer-focused’ scientific and strategic implementation system” for sufficient development and further interests.
See also
*
Minsheng Bank Building
*
Liu Yonghao
Liu Yonghao (; born 1952) is a businessman in agribusiness in China. He is the founder and chairman of New Hope, the biggest animal feed producer in China. He is also involved in banking. As of 2019, He was ranked the 19th richest in China by ''Fo ...
References
External links
China Minsheng Bank's website
China Minsheng Bank's website
Companies listed on the Shanghai Stock Exchange
Companies in the CSI 100 Index
Companies listed on the Hong Kong Stock Exchange
Banks of China
Companies based in Beijing
Banks established in 1996
H shares
Chinese brands
{{Asia-bank-stub