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The Rise and Fall of Abacus Banking in Japan and China phần 7

Các công ty lớn sau đó sẽ quay lại và được nạp bằng tiền mặt từ các giao dịch thị trường chứng khoán của họ, đặt số lượng lớn của nó vào tài khoản ngân hàng. Các ngân hàng rất sớm phát hiện ra rằng họ đã phải đối mặt với một sự bối rối của sự phong phú về phía tiền gửi của sổ cái, nhưng tình trạng thiếu hụt của khách hàng vay để cho vay tiền trên các other.10 | Chapter 5 The Rise of Abacus Banking in China How far back in history must one dig to trace the roots of banking in China Some historians dig all the way back to the Song dynasty period 960-1274 when China had developed an elegant central banking system. Others start with the Ming dynasty period 1368-1643 when the country had created a commercial economy based on money and credit. And a third group begins with the Quing dynasty especially the period 1845-1895 the establishment of European and Japanese colonialization.1 Irrespective of how far back in history one reaches China s banking has always been a tightly controlled industry with little competition and the risks associated with it especially in the last two centuries. In the nineteenth century for instance banking was tightly controlled by the government and by the guilds which restricted entry into the industry fixed loan rates and rationed credit to their members. In the first three decades that followed the communist victory China s banking industry turned into a state-owned industry within a central plan that determined the flow of funds into and out of the industry. In this sense banking was a routine administrative procedure rather than an active credit risk management operation. Bank lending was primarily extended to the corporate sector and lending interest rates were set according to the form of ownership and communist party guanxi relations reflecting political priorities rather than risk premiums. This means that banks were not 102 The Rise and Fall of Abacus Banking in Japan and China true banks in the capitalist sense they were not for-profit enterprises but government departments with fiscal responsibilities such as monitoring the money traffic between the government coffers and the corporate sector. Almost all deposits were administratively collected as profits of SOEs and rationed to various industries according to government priorities.2 The same applies to non-banking institutions such as .