• Thu
  • Dec 25, 2014
  • Updated: 8:09am

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.

Chiyoda Steel to sue Bank of China Hong Kong in steel finance case

Japanese company Chiyoda sold 3,000 tonnes of steel to a Korean firm but Bank of China Hong Kong is refusing to honour the letter of credit used as payment. Photo: Bloomberg

Japanese firm Chiyoda Steel plans to proceed to a full trial against Bank of China (Hong Kong) for not honouring its letter of credit because the words "steel grade" were missing in the trade document.

Friday, 7 November, 2014, 6:34am 2 comments

Higher bad-loan rates tipped for Bank of China and Agricultural Bank

Net income at Agricultural Bank slowed to 6 per cent quarter on quarter, its weakest growth since 2011. The lender also reported the highest NPL ratio. Photo: Bloomberg

Bad debt at the mainland's biggest banks continued to climb in the third quarter, sparking a warning on mounting risk and potential corporate defaults from a top central bank official.

31 Oct 2014 - 8:08am

South Africa enlists Bank of China to help pull in Chinese investment

With 25 per cent unemployment, South Africa is seeking labour-absorbing investments in sectors such as roads and energy. Photo: Bloomberg

South Africa's Department of Trade and Industry will sign a memorandum of understanding with the Bank of China during the state visit of South African President Jacob Zuma to Beijing next month.

21 Oct 2014 - 5:08am

BOC raises US$6.5b in offshore preferred share issue

Bank of China aims to meet new Basel III rules. Photo: AFP

16 Oct 2014 - 7:32pm

Bank of China Starts Marketing Up to $6.5 Billion Note Sale

China's banking giants are shoring up their capital buffers.

Bank of China has begun marketing what may be Asia's biggest sale of bank capital securities.

16 Oct 2014 - 5:51am

Basel III more meaningful at home than globally for Chinese banks

Bank of China is about to issue its initial tranche of preferred shares that adhere to Basel III, worth about 310 billion yuan. Photo: Reuters

Bank of China is set to issue its first tranche of Basel III-compliant preferred shares, the beginning of what is set to be a wave of similar issuances from mainland banks worth about 310 billion yuan.

15 Oct 2014 - 5:31pm

BOC, Agricultural Bank to allow relaxed mortgage policies

It has been speculated that China’s four largest banks may ease mortgage landing and even offer a 30 per cent discount rate for first-time buyers. Photo: Bloomberg

Two of the mainland's biggest lenders, Bank of China (BOC) and Agricultural Bank of China, are encouraging their branches to bolster mortgage lending.

26 Sep 2014 - 4:44am

BOC asset arm seeks 1 billion RQFII yuan quota for European investors

Bank of China's asset management arm plans to apply for a one billion yuan (HK$1.26 billion) investment quota to expand its investment capability. Photo: AFP

Bank of China's asset management arm plans to apply for a one billion yuan (HK$1.26 billion) investment quota to expand its investment capability to prepare for yield-hungry European investors' demand for renminbi assets.

25 Sep 2014 - 6:26am

BOC beefs up in push for larger share of debt market

Dim sum bond sales are expected to increase 53 per cent to a record 570 billion yuan this year, according to HSBC. Photo: Bloomberg

Bank of China is hiring traders and sales people as it sets up a high-yield bond trading platform to boost market share and cement its position as one of Asia's top 10 debt underwriters.

17 Jul 2014 - 1:22am 1 comment

Heat from CCTV exposé unlikely to hit mainland cash outflows

Analysts say a clampdown on BOC's Youhuitong service following the CCTV exposé will barely be noticed given the scale of capital seeking to leave the mainland. Photo: Reuters

Overseas investment flows from the mainland are likely to suffer only a minor setback in the wake of a scandal that has embroiled one of its biggest banks in a row over alleged breaches of strict foreign exchange controls.

16 Jul 2014 - 1:15am

China must come clean on capital transfers abroad

CCTV accused BOC of providing "money laundering services". Photo: Reuters

Contrary to what you would expect under the mainland's tight capital controls, an outflow of Chinese money is fuelling Western asset markets, especially for property, which suggests investors must be circumventing the regulations.

15 Jul 2014 - 8:45am 4 comments

Investing between the lines in China

Bank of China has been accused of violating rules. Photo: AFP

Except for lawbreakers, most investors around the world analyse the same information when they make asset allocation calls.

15 Jul 2014 - 1:24am 1 comment

Bank of China-CCTV drama may reveal power struggle in Beijing

CCTV accused BOC of providing "money laundering services" to rich mainlanders to help them emigrate.

Late paramount leader Deng Xiaoping is often remembered for his quotation about the way Beijing should try to reform its economic system: "One should cross the river while feeling the stones".

14 Jul 2014 - 7:38am

Fears of tough action by Beijing following allegation BOC launders money

On Wednesday state broadcaster China Central Television accused BOC of offering illegal money laundering services to rich clients via the Youhuitong platform. Photo: Reuters

The Bank of China cash-transfer service at the centre of money laundering allegations could escalate the sabre-rattling between the mainland's liberal-minded bankers and conservative regulators.

12 Jul 2014 - 4:36am 3 comments

Like Bank of China, Citic Bank also offers service branded 'money laundering' by CCTV

China Citic Bank has emerged, facilitating the movement of currency overseas. Photo: Bloomberg

State broadcaster CCTV has accused the Bank of China of offering a money laundering service to wealthy mainlanders and helping them to siphon cash out of the country.

13 Jul 2014 - 1:23pm 14 comments

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