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  • Dec 20, 2014
  • Updated: 9:44am

Bank of China

Bank of China is one of the big four state-owned commercial banks of the People's Republic of China – the other three are Industrial and Commercial Bank of China, China Construction Bank and Agricultural Bank of China. Bank of China was founded in 1912 to replace the Government Bank of Imperial China, and is the oldest bank in China. From its establishment until 1942, it issued banknotes on behalf of the Government of the Republic of China along with the "Big Four" banks of the period: the Central Bank of China, Farmers Bank of China and Bank of Communications. Although it initially functioned as the Chinese central bank, in 1928 the Central Bank of China replaced it in that role. Subsequently, BOC became a purely commercial bank.

Meet the Boss

PUBLISHED : Saturday, 31 July, 1999, 12:00am
UPDATED : Saturday, 31 July, 1999, 12:00am
 

Liu Mingkang is one of five deputy governors at the People's Bank of China (PBOC).


The urbane Mr Liu, who has an MBA from London's City University, was appointed to the post in April last year. At the same time, he was named a vice-chairman of the PBOC's monetary policy committee.


Mr Liu has focused on financial supervision and external affairs during his tenure at the central bank and played an active role in global financial issues as well as in mainland economic reforms.


In the space of a little more than a year Mr Liu has been involved in formulating policy in areas such as financial supervision, the yuan and reforms of commercial banks.


He has concurrently served as Fuji province's deputy governor and its secretary-general.


Before joining the PBOC, he was a vice-president at the State Development Bank, one of the mainland's three policy banks.


He has also held senior positions at various Bank of China branches. CHRISTINE CHAN

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