China: State Banking Reforms and the Rise of the Big Four Banks (1979–2005)

1. Reforms revive specialized state banks

   Jan 1, 1979Labels: People's Bank, Specialized Banks

   • PBC Yi Gang

2. ICBC created from PBC commercial functions

   Jan 1, 1984Labels: ICBC, People's Bank

   • ICBC history
   • PBC Yi Gang

3. State Council sets blueprint for financial reform

   Jan 1, 1993Labels: State Council, Financial Reform

   • PBC GuoFa 91

4. Three policy banks established to take policy lending

   Jan 1, 1994Labels: China Development, Export Import

   • PBC Yi Gang
   • PBC GuoFa 91

5. Commercial Banks Law sets formal rules for commercialization

   May 10, 1995Labels: Commercial Banks

   • NPC Observer

6. Government recapitalizes Big Four via special bond issuance

   Jan 1, 1998Labels: Big Four, Government

   • Central Banking

7. Four asset management companies created to absorb bad loans

   Apr 19, 1999Labels: Asset Management, Bad Bank

   • Cinda FAQ
   • Central Banking

8. AMC purchases reach about RMB 1.4 trillion

   Nov 2, 2001Labels: Asset Management

   • People s Daily

9. Central Huijin created to inject capital into major banks

   Jan 1, 2003Labels: Central Huijin, People's Bank

   • Central Huijin

10. Banking regulator CBRC established

    Apr 1, 2003Labels: China Banking, Bank Regulator

    • China org cn

11. Bank of China completes joint-stock restructuring

    Jan 1, 2004Labels: Bank of, Joint-stock Reform

    • Bank of China

12. China Construction Bank becomes joint-stock company

    Sep 1, 2004Labels: China Construction, Joint-stock Reform

    • CCB history

13. State Council approves ICBC reform plan

    Apr 4, 2005Labels: State Council, ICBC

    • ICBC speech

14. China Construction Bank lists in Hong Kong

    Oct 27, 2005Labels: China Construction, Hong Kong

    • China Daily
    • CNN Money