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Future of Direct Banks

In: The New Cycle and New Finance in China

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  • Shusong Ba

Abstract

On September 16, 2013, China Minsheng Bank (CMB) and Alibaba Group jointly announced that they were preparing to establish a direct bank. On September 18 of the same year, Bank of Beijing (BOB) announced the establishment of China’s first direct bank in cooperation with ING group of the Netherlands, and China started the development of direct banks.

Suggested Citation

  • Shusong Ba, 2022. "Future of Direct Banks," Springer Books, in: The New Cycle and New Finance in China, chapter 0, pages 91-96, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-8209-4_14
    DOI: 10.1007/978-981-16-8209-4_14
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