• Fri
  • Jul 11, 2014
  • Updated: 8:16am

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.

Lovely lolly

PUBLISHED : Sunday, 20 July, 2008, 12:00am
UPDATED : Sunday, 20 July, 2008, 12:00am

People queued all night for Bank of China commemorative Olympic banknotes. Given claims that our enthusiasm for the Games is muted, could firms have come up with more souvenirs to whet our appetite? Write to us

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