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Russo Chinese Bank

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Founder
  
Sergei Witte

Founded
  
1895

Russo-Chinese Bank httpsuploadwikimediaorgwikipediacommonsthu

Russo-Chinese Bank (Traditional Chinese: 華俄銀行) was a foreign bank representing Russian interest in China during the period between Qing Dynasty and Republic of China.

History

  • December 5, 1895: The bank was created in the Russian Embassy in Paris, from Russian and French capital. It lent money to China and issued Chinese government bond to finance China for its indemnity to Japan after First Sino-Japanese War.
  • February, 1896: It opened a Shanghai branch.
  • August 28, 1896: China joined the bank as a partner for the construction of China Eastern Railway. The bank was renamed to Sino-Russian Righteousness Victory Bank (Traditional Chinese: 華俄道勝銀行).
  • 1902: It became the second largest bank in China.
  • July, 1910: It was merged with Banque du Nord to form Russo-Asiatic Bank (Traditional Chinese: 俄亞銀行).
  • September 26, 1926: It was closed down after losing 5 million pounds in foreign currency speculation in Paris financial market.

    • References

    Russo-Chinese Bank Wikipedia
    (Text) CC BY-SA


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