(
BANKS OF CHINA (Continuation
Apparently the restrictions on the banking facilities of those times were too much for the new enterprise coupled with the severe depression which set in just then, and the Bank of China never materialised. Nevertheless those efforts to start another local banking institution and the fact that it failed to develop are of historical interest today.
There is in the Colony at the present time a Bank of China Ltd., a semi-Government Chinese Institution. It was started in Shanghai in 1912 after the establishment of Republic and opened a Hongkong branch in 1920.
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