K. P. Chen initially became close to Chang Kia-ngau when he became a private financial consultant to the Bank of China at the time between leaving the Kiangsu Provincial Bank and the founding of the Shanghai Commercial and Savings Bank.
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In 1916, both K. P. Chen and Li Ming stood up for Chang Kia-ngau and accused the government of wrongfully issuing the order when Chang's Bank of China's Shanghai office got into trouble for refusing to obey the governments order to suspend banknote remittance.
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Probably because of his tiny initial capital, K. P. Chen received a long term interbank deposit of 50,000 Yuan from Chang's Bank of China as reserve capital encouraging close cooperation between the two banks.
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K. P. Chen cultivated close relationships with Li Ming (founder and CEO of Chekiang Industrial Bank and Chairman of the Shanghai Bankers Association), and Chang Kia-ngau who like he was, represented a new generation of modern bankers.
The bank, which was authorized to issue banknotes, broke free from the Yuan Shih-k'ai government's control in 1916 under the leadership of Chang Kia-ngau, and became a private, merchant-owned bank in 1923 when the cash-strapped Peking government sold all but a symbolic number of its shares to private investors.
Zhang Fei | Zhang Yimou | Zhang Wentian | Zhang Zhidong | Zhang Ruimin | Zhang Yan (Han Dynasty) | Zhang Yan | Zhang Xun | Zhang Yue (Tang Dynasty) | Zhang Yue | Zhang Dejiang | Zhang Anshi | Liu Zhang | Jianyi Zhang | Zhang Zuoxiang | Zhang Zuolin | Zhang Zizhong | Zhang Zhongjing | Zhang Zhizhong | Zhang Zhijun | Zhang Zhen Huan | Zhang Yuan | Zhang Yu | Zhang Yizhi | Zhang Yiyi | Zhang Yi (strategist) | Zhang Yaodong | Zhang Yanmei | Zhang Xueliang's former residence in Wufeng, Hsinchu | Zhang Xin |