China Merchants Bank

Print Updated: 2019-06-24

In 1987, China Merchants Bank was founded in the Shekou Industrial Zone of Shenzhen, the forefront of China's reform and opening-up. It was China's first joint-stock commercial bank wholly owned by corporate legal entities and the first pilot bank as China promoted reform in the banking industry with endeavors outside the government.

Since its inception, the company has been leading the trends of China's banking industry through a series of pioneering efforts. It is the first bank to issue the "All-in-One Card", a milestone debit card based on customer number. It also created the first domestic online banking platform-  "All-in-oneNet"- the first dual-currency credit card based on international standards, and the first wealth management product for high-end customers, "Sunflower Wealth Management". The bank developed the first smart investment advisory product in the industry- "Machine Gene Investment". It was also one of the first among domestic peers to introduce services, such as offshore banking, buyer's credit, domestic letters of credit, enterprise annuities, cash management, online customs tax payment, corporate wealth management and online bill acceptance.

Upholding the service concept of "We Are Here Just for You", the company has grown into one of the most famous brands over the past 32 years. In 2018, it ranked 20th in terms of Tier-One Capital among the Top 1,000 Global Banks of The Banker, a renowned financial magazine of the United Kingdom, up 3 places from 2017. On the list of Top 500 Banking Brands of The Banker, it ranked 9th in 2019. The company had been included as a Fortune Global 500 company for 7 consecutive years and ranked 213th in 2018.

By the end of 2018, with over 70,000 employees, the company had set up a service network consisting of more than 1,800 branches worldwide, including six overseas branches, three overseas representative offices, and service outlets located in more than 130 cities in the Chinese mainland.

In 2018, its spending on information technology reached 6.50 billion yuan, up by 35.17 percent year-on-year, and one percent of its operating income in the previous year was put into a fund for Fintech innovation projects. Next, the company will fully integrate technology with business according to customer needs, and quickly update and continuously deliver products and services so as to provide the best customer experience and achieve balance between efficiency, cost and risk.

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