On this day, 128 years ago, on May 27, 1897 (April 26, 1897, the Chinese calendar), the Commercial Bank of China was established, the first bank run by China. Commercial Bank of China is referred to as Commercial Bank. The department was established in Shanghai on April 26, 2007 (May 27, 1897) after Sheng Xuanhuai, Minister of Supervision of National Railway Affairs, petitioned the Qing court for approval. It is the first bank run by China and the earliest Chinese-funded bank opened in Shanghai. China Commercial Bank was founded by Sheng Xuanhuai on May 27, 1897. It was the first bank run by China and the earliest Chinese-funded bank opened in Shanghai. After the Opium War, Western countries established banks in China one after another, and China also needed its own banks to adjust funds. In November 1896, Sheng Xuanhuai suggested to the Qing court: "Forging silver coins and opening both ends of banks are actually the power of business." "To revitalize industry, it is necessary to reform financial institutions, banks, banks and banks with small capital and narrow scope." On December 7, the Qing Emperor officially approved Sheng Xuanhuai to "invest and collect shares and jointly establish" a bank. At the beginning of its establishment, Commercial Bank of China had a capital of 5 million taels of silver, divided into 50,000 shares at 100 taels per share. It received 2.5 million taels of capital in advance, and each general director subscribed to 1 million taels of Chinese shares. In addition, the state granted the bank the privilege of issuing two types of banknotes, silver dollar and silver, for civilian use and made it a hub for organizing the currency system. At this point, domestic paper money and foreign bank paper money were competing, and financial power was no longer controlled by foreign banks. In addition to issuing banknotes, Commercial Bank of China also collects treasury silver. Major provinces across the country have successively established branches, including Beijing, Tianjin, Baoding, Yantai, Hankou, Chongqing, Changsha, Guangzhou, Shantou, Hong Kong, Fuzhou, Jiujiang, Changde, Zhenjiang, Yangzhou, Suzhou, Ningbo and other places. The business is booming for a while. In 1900, the Eight-Power Allied Forces captured Beijing, and the Beijing branch was burned down for the first time. The Tianjin branch was also closed, and its business gradually declined. By 1905, only two branches in Beijing and Hankou and one branch in Yantai remained. In the early development of China Commercial Bank, the "counterfeit currency case" that occurred in 1903 caused a sensation in Shanghai. On February 4, 1903, a bank clerk took banknotes to the Commercial Bank of China to cash in cash. After inspection, several of the 10-yuan coupons were counterfeit banknotes. A day later, the bank found counterfeit banknotes again. This time, there were not only counterfeit ten-yuan banknotes, but even counterfeit five-yuan banknotes. The news spread quickly, and the people who had the banknotes of China Commercial Bank were very panicked. They took the banknotes of China Commercial Bank to the bank for exchange. After hearing the news, Sheng Xuanhuai, the founder of Tongshang Bank in Beijing, immediately ordered Shanghai to do everything possible to tide over the difficulties and cash customers at any time. At the same time, we must promptly crack down on suspected counterfeiting suspects and severely punish them. In order to cope with the run, China Commercial Bank made an exception and also opened as usual on weekends. As a result, in just a few days, the Commercial Bank of China withdrew 300,000 yuan in counterfeit banknotes. Soon, a Japanese man went to HSBC with banknotes from the Commercial Bank of China to cash in. As a result, he found that all his 4000-yuan banknotes were counterfeit banknotes. He sent someone to secretly follow the Japanese home. After recording his address, he reported it to the Concession Inspection Office, which immediately sent someone to arrest and interrogate him. According to the Japanese man's confession, his name was Iyosuke and he opened a trading company in Shanghai. After conspiring with Japanese ronin Tadaro Yamashita and Sekiano Gennosuke, he secretly copied the banknotes of China Commercial Bank in a private house on the outskirts of Osaka, Japan. There were two types of 10 yuan and 5 yuan, totaling 300,000 yuan. After the counterfeit banknotes were printed, they were smuggled from Kyushu, Japan to Shanghai in batches, and then they were dispersed outside through Japanese trading houses in Shanghai and other channels. After negotiation by the China Embassy in Japan, the Japanese police stormed the residences of these suspects and arrested them one by one. All machines and counterfeit banknotes were destroyed. The earliest counterfeit currency case in modern Shanghai, plotted by the Japanese, finally came to light. After liberation, the people's government accepted part of the bureaucratic capital of commercial banks as public shares and transformed it into one of the public-private joint banks. In May 1951, Xinhua, Siming, China Industrial, and Jianye first formed the Joint General Management Office in the financial industry. In December 1952, it formed a unified public-private joint venture bank together with 59 other private banks, banks and trust companies in Shanghai, becoming an integral part of the socialist financial undertaking. Commercial Bank of China Building (1906) Commercial Bank of China was the earliest Chinese-funded bank in Shanghai. No. 6 on the Bund was originally an auction house with a three-story colonial building. In 1906, the Commerce Bank Building was designed by Glanton of Morrison Foreign Exchange. The architectural style is imitation Gothic City Hall style with a row of spires at the top. There are five spires on the fourth floor of the building, and there were originally crosses. There are small spires on the third and fourth floors. The fourth floor of the building has point-shaped windows, and the first and second floors are typical Gothic-style flower-window mulled windows. The decoration has the color of European religious architecture, with blue and red bricks inlaid, and many slender pillars hooking the wall. In the early days of the Republic of China, the bank was renamed "Commercial Bank of China" in English and became a purely commercial bank. In 1936, the bank was officially reorganized into a "government-business joint venture" bank. Since then, this behavior was controlled by the National Government and was collectively known as the "Small Four Banks" together with Siming Commercial Savings Bank, Industrial Bank of China, and Bank of China. After the founding of the People's Republic of China, the People's Government took over the bank's bureaucratic capital and transformed it into one of the public-private joint banks. China Commercial Bank Building, also known as Yuanfang Building. Today it is the seat of Hong Kong Kiu Fu International Enterprise Co., Ltd. The Commercial Bank of China Building (this photo shows the scene of a fire in the bank building)