People queue outside the Ming Tak Bank head office, at the junction of Pedder Street and Queen's Road Central, in Hong Kong, on January 27, 1965. Photo: SCMP People queue outside the Ming Tak Bank head office, at the junction of Pedder Street and Queen's Road Central, in Hong Kong, on January 27, 1965. Photo: SCMP
People queue outside the Ming Tak Bank head office, at the junction of Pedder Street and Queen's Road Central, in Hong Kong, on January 27, 1965. Photo: SCMP

When Ming Tak Bank’s owner went bankrupt, Hong Kong almost ran out of money

  • In 1965, a run on the bank owned by Poon Kai-kwong led to rumours of trouble at other Chinese banks
  • British pound notes were flown in and restrictions were placed on withdrawals, eventually restoring confidence

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People queue outside the Ming Tak Bank head office, at the junction of Pedder Street and Queen's Road Central, in Hong Kong, on January 27, 1965. Photo: SCMP People queue outside the Ming Tak Bank head office, at the junction of Pedder Street and Queen's Road Central, in Hong Kong, on January 27, 1965. Photo: SCMP
People queue outside the Ming Tak Bank head office, at the junction of Pedder Street and Queen's Road Central, in Hong Kong, on January 27, 1965. Photo: SCMP
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