113 years ago today, on February 5, 1912 (December 18, 1911), the first bank of the government of the Republic of China, the Bank of China, opened. On February 5, 1912, the Financial Institution Group of the Qing government in Shanghai, the Bank of the Qing Dynasty, was unanimously petitioned by all shareholders and approved by the interim president Sun Yat-sen and the finance minister Chen Jintao. It was changed to the Financial Institution Group of the government of the Republic of China, called the Bank of China. It started business on February 5. In his opening speech, Finance Minister Chen Jintao pointed out that the Bank of China would proceed with the unification of banknotes and the management of the national treasury, and stated that it would not accept outsiders to buy shares. The Bank of the Qing Dynasty, founded in Beijing in 1905, was originally called the Bank of the Household Department. It was established by the Ministry of the Household Department (Du Branch) with two rated capital silver 4 million and half official and commercial. In 1908, it was renamed the Bank of the Qing Dynasty, which has the dual nature of a central bank and a commercial bank.