China Merchants Bank (CMB)

China Merchants Bank (CMB) was established on April 8, 1987. It was the first joint-stock commercial bank in China wholly owned by corporate entities, and also the first pilot bank initiated by the state to promote reform outside the traditional institutional framework. Since its establishment, China Merchants Group has been CMB’s single largest shareholder. As of December 31, 2024, China Merchants Group held 29.97% of CMB’s shares.