Describe the type of banking in Hong Kong prior to 1964
Banking Ordinance The Banking Ordinance is a set of laws passed by the Legislative Council of Hong Kong to tighten restrictions for opening up or licensing a bank. Prior to the 1964 re-regulations, the government had no way to control bank's monetary effect on the economy. It also had no way of protecting the people utilizing the institutions. Banking was considered a Laissez-faire network, and was also described as "Free Banking" or "Wildcat Banking" filled with much uncertainty.
China Construction Bank (Macau) The China Construction Bank Corporation Macau Branch () is a bank in Macau, China. It was wholly owned by China Construction Bank (Asia) , a wholly owned subsidiary of China Construction Bank, and renamed from China Construction Bank (Macau) Corporation Limited ()) after its incorporation with China Construction Bank in June 2014. It now has 8 subbranches in Macau offering retail banking products and services, a Commercial Banking Division and a China Enterprise Division offering commercial banking products and services. It was originated from the Bank of Canton (Macau Branch) which was established in 1936.