Triple Intervention
Following the Treaty of Shimonoseki ending the First Sino-Japanese War and the Triple Intervention, China was forced to pay a large indemnity to the Empire of Japan (230 million kuping taels equal to 8,600 tonnes of silver). In order to raise the funds for this payment, China approached France and Russia for loans. Taking advantage of this situation, Russian finance minister Sergei Witte established the Russo-Chinese Bank, which was controlled by the Russian government, and agreed to facilitate the loans.