Study On The Mainland Bank Of Shanghai After Liberation (1949.5-1952.12)

As one of the private Capital Group " Five banks of the North",Continental Bank founded in March 1919. Before Shanghai liberation,it affected by the previous government hyperinflation policy, there was a sharp fall in business. After Shanghai liberation,Continental Bank positively responsed to the government’s financial policy,carried out adjustment and reorganization,obtained the permits of the government, and tried hard in the range allowed by the government, to carry out the operations, compared to before the liberation had made certain achievements. However, in 1950, especially the "two six bombing", for the situation of Shanghai private banks, was extremely serious, facing serious economic and market situation, as the large-scale private bank, Continental Bank was also facing serious difficulties, business recession, commercial and industrial loans could not be recovered, emerged serious loss, the situation made Continental Bank extremely unfavorable. In view of the joint operation can increase the overall market response capabilities, Continental Bank exhibited on joint state-private ownership, " Five banks of the North" started regional associates in July 1950, then applied for public directors to guide, and then participate in the North five banks associates union, joined “five banks of the north ”combined with General Administration, from July 1950 " Five banks of the North" regional associates to the end of 1951, this was the last period of prosperity of Continental Bank after Shanghai liberation. with the "three evils", "Five Antis" campaign, the socialist transformation of the private financial industry was speeding up.In the end of 1952, the Continental Bank joined the joint state private United Bank, completed the socialist transformation, ended its thirty years of history role.