1920년대 천진금융시장과 화상은행(華商銀行)의 발전 = The development of Chinese commercial banks in Tianjin financial market in 1920s.

다국어 초록 (Multilingual Abstract)

With industrial development, Chinese commercial banks could be rapidly developed in Tianjin financial market, which made it possible for TianJin to become the second largest banking center in China, behind Shanghai, in 1920s. This paper has shed a light on how Chinese commercial banks could be rapidly developed for a short period of time after the first world war broke out. The main causes that, with outbreak of the first world war, the commercial banks in Tianjin financial market can be summarized as follows : first of all, the rapid growth of Chinese commercial banks was deeply linked to the development of Chinese industry in 1920s. Withe the outbreak of first world war, China could not import the daily commodities and industrial products from European countries, which led to cause the abrupt rise of their price all around China. This new economic condition which was in favor of Chinese industrial development got Chinese capitalist to make an investment on textile and flour milling industry that had deep relation with people`s life. As a result, thousands of industrial factories began to be established for a shout period of 10 years in Tianjin. A large number of commercial banks began naturally to appear to provide industrial funds to the industrial enterprises efficiently. Second, the development of Chinese commercial banks had deep relation with the investment of warlords and government officials related to them on the banking sector in 1920s. In the early stage of republic of China, influential warlords could control China, based on the economic cooperation of Chinese commercial banks. Therefor, Chinese commercial banks could continue to develop under the protection and support of warlords. Third, Nanking government conducted the reform of monetary system, which contributed to paving the way that made it possible for Chinese commercial banks to be rapidly developed under the new financial environment. We need to take a look at the historical meanings of rapid development of Chinese commercial banks in Tianjin financial market. It can also be summarized as follows: first, The rapid growth of Chinese commercial banks in Tianjin financial market contributed to making the industrial development possible by providing the industrial funds to businessmen in Tianjin efficiently. Second, the development of Chinese commercial banks played very important role in detering the capitals of foreign powers from occupying the Chinese industry and financial market. As I mentioned above, Chinese capitalists began to make an investment on the industrial field, like the textile and flour milling industry, that had much demand of consumption when the first world war broke out in Europ. These kinds of industries played important role in sprouting the Chinese national industry in 1920s. Finally, In 1920s, Chinese commercial banks and Chinese traditional banks weer coexisted in Tianjin financial market. The Chinese traditional banks lent money to Chinese businessmen on credit basis, but Chinese commercial banks demanded the offer of proper collateral when they wanted to borrow the industrial funds . As a consequence, the small and medium sized enterprises could not approach the Chinese commercial banks, due to the lack of proper collateral. The Chinese commercial banks tried to flow their funds into the small and medium sized enterprises in the secondary way by depositing the large sum of money in the traditional banks.

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