• Fri
  • Nov 21, 2014
  • Updated: 6:02am

The 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.

 

Investors chase BOC warrants

Turnover reaches $645m, accounting for 9pc of the total, as the market remains bullish on China

Tuesday, 11 July, 2006, 12:00am

Investors chase BOC warrants

Turnover reaches $645m, accounting for 9pc of the total, as the market remains bullish on China

Bank of China's warrants were well received by the market on their trading debut yesterday, helped by investors' interest in the underlying shares and their need for derivatives to hedge risks.

11 Jul 2006 - 12:00am

Bank sues travel agency directors over $1b loans

Two directors of one of Hong Kong's biggest travel agencies are being sued for more than $1 billion.

18 Aug 2002 - 12:00am

Lenders lobby for slice of yuan forward trade cake

The Bank of China's lucrative monopoly of yuan forward contracts business is coming under threat as other state and commercial banks lobby the People's Bank of China for a share of the market.

16 Feb 2000 - 12:00am

Guangdong gets export loan lift

The Bank of China (BOC) has promised more loans for Guangdong exporters whose trade volume accounts for more than 40 per cent of the national total.

BOC's Guangdong branch lent 35 billion yuan (about HK$32.5 billion) to trade firms by the end of August, with the bulk going to foreign-funded enterprises, Xinhua news agency reported, quoting a bank official.

3 Oct 1998 - 12:00am

BOC backs forex futures

ONE of China's four major commercial banks, the Bank of China, is to launch full-scale forward trading in foreign currency during this year, to enable enterprises to reduce exchange risks.

1 Feb 1998 - 12:00am

Bank of China ready to increase CD issue

The Bank of China is expected to increase its five-year floating rate certificates of deposit to $4 billion.

Arranger China Development Finance Co (CDFC) said the bank's headquarters had earlier approved a maximum issue of $4 billion.

3 Oct 1996 - 12:00am

Beijing nod sought to boost $2b issue

The Bank of China (BOC) is awaiting approval from its Beijing headquarters to increase the size of its $2 billion note issue after a huge response from potential investors.

2 Oct 1996 - 12:00am

CHINA FOREIGN currency deposits

FOREIGN currency deposits in individual accounts with the Bank of China have risen to US$13.62 billion by the end of November, according to the Economic Information Daily .

The bank first started accepting foreign currency deposits in 1984 and by April 1994 these had exceeded $10 billion.

22 Dec 1995 - 12:00am

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