China Minsheng Bank

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For other financial services companies named "Minsheng", see Minsheng.
China Minsheng Banking Corporation Limited
中国民生银行股份有限公司
TypePublicly traded company
SSE: 600016
SEHK: 1988
SSE 50 Component
IndustryBank
Founded1996; 27 years ago (1996)
Headquarters
Beijing
,
China
Area served
Mainland China
Hong Kong
RevenueUS$25.99 billion (2019)
Total assetsUS$647.2 billion (2015)[1]
OwnerMainly private sector corporations in China
DivisionsMinsheng Private Banking Service
Websitewww.cmbc.com.cn

China Minsheng Bank (simplified Chinese: 中国民生银行; traditional Chinese: 中國民生銀行; pinyin: Zhōngguó Mínshēng Yínháng), founded on January 12, 1996, in Beijing, is the first bank in China to be owned mostly by private sector enterprises.[2] The bank was founded by Jing Shuping, a Chinese lawyer and businessman.[3]

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.[2] The bank was publicly listed on the Hong Kong Stock Exchange in 2009.[4]

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.[5] For reversing the unfavourable prospect, CMBC initiates continuous internal reformation such as the replacement of leadership in April 2000[5] and “the enterprise business and divisional organisation reform” in 2007.[6] 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.[5][6] In 2011, CMBC innovated its orientation by establishing “a ‘customer-focused’ scientific and strategic implementation system” for sufficient development and further interests.[6]

See also

References

  1. ^ "The World's Biggest Public Companies". Forbes.com. Retrieved 4 December 2017.
  2. ^ a b "Official Company Profile". Cmbc.com.cn. Archived from the original on 2013-01-01. Retrieved 2013-02-22.
  3. ^ "Founder of China's private Minsheng Bank dies". Reuters. 2009-09-14. Retrieved 2009-09-21.
  4. ^ "HKEX Group". Hkex.com.hk. Retrieved 4 December 2017.
  5. ^ a b c A Guide To The Top 100 Companies In China. Zhang Wenxian & Alon Ilan. World Scientific. 2010. ISBN 1-282-76188-9. OCLC 729020693.{{cite book}}: CS1 maint: others (link)
  6. ^ a b c Chen, Jiagui; Huang, Qunhui; Peng, Huagang; Zhong, Hongwu (2015), "China Minsheng Banking Co., Ltd. (CMBC): Social Responsibility Is a Conscious Activity of Systematization, Institutionalization and Scientification of Enterprises", Research Report on Corporate Social Responsibility of China, Berlin, Heidelberg: Springer Berlin Heidelberg, pp. 241–262, doi:10.1007/978-3-662-45363-6_14, ISBN 978-3-662-45362-9, retrieved 2021-04-12

External links

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