What happened to China Merchants Bank's Hong Kong shares?

China Merchants Bank's Hong Kong-listed shares, which resumed trading on Tuesday after a public holiday, plunged 11.5%, while its Shanghai-traded shares slipped 3%, following the previous session's 7.3% tumble. The official Securities Times newspaper reported on Tuesday that Tian will become vice chairman of the China Merchants Financial Group.

Where is China Merchants Bank located?

China Merchants Bank ( CMB) ( Chinese: 招商银行; pinyin: Zhāoshāng Yínháng) is a Chinese bank headquartered in Futian District, Shenzhen, Guangdong, China. Founded in 1987, it is the first share-holding commercial bank wholly owned by corporate legal entities in China. CMB has over five hundred branches in mainland China and one in Hong Kong.

What is the difference between China Merchants Bank and state banks?

It lent to private entrepreneurs, while clunky state banks preferred mainly to lend to other state entities. Although its shareholders are largely government-controlled, China Merchants Bank has operated more like a privately run group.

Who is C Hana Merchants Bank?

C HINA MERCHANTS BANK has always stood out from the pack. It was founded by a former communist guerrilla in 1987 as China’s first commercial lender with a corporate-shareholding structure.