Bank of China (BOC)
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Bank of China (BOC)

(中国银行)

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Bank of China (BOC)
Bank of China (BOC)
中国银行
The Bank of China is one of Hong Kong's biggest banks. It is also one of China's four state-owned commercial banks; the other three are the Industrial and Commercial Bank of China, China Construction Bank, and the Agricultural Bank of China. The Bank of China was founded in 1912 to replace the Government Bank of Imperial China, and is the oldest bank in the country. Its headquarters are located in Hong Kong.
Chairman / President
Ge Haijiao
CEO / Managing Director
SUN Yu
CFO / Finance Director
LIU Chenggang
Industry
Banking, Financial services
Website
boc.cn
Headquarters address
Beijing, China
Stock Code
SEHK: 3988
SSE: 601988
OTC Pink: BACHY
Year founded
1912
A mine worker inspects conveyer belts transporting iron ore at the Fortescue Solomon iron ore mine, in the Sheila Valley, around 400km south of Port Hedland, in the Pilbara region of Western Australia. Photo: Reuters
Australia

Editorial | Record Chinese yuan loan to Australian miner makes good sense

The sizeable foreign loan is a landmark in Beijing’s efforts to internationalise the yuan as an alternative to the US dollar.

Banking & finance

China’s push to promote its currency accelerates with landmark Fortescue loan

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Banking & finance

China gives Hong Kong new yuan transfer cap as payment link starts

ETFs

Saudi sukuk ETFs debut in Hong Kong’s milestone in Middle East ties

ETF tracking Saudi’s Islamic government and agency bonds posts strong gain in first day of trading in Hong Kong.

Gong-striking ceremony to mark the debut of Premia BOCHK Saudi Arabia Government Sukuk ETF in Hong Kong on May 29. Photo: Enoch Yiu
US-China relations

Trump tariffs seen lowering Chinese firms’ US investment plans

Findings based on survey of Chinese firms in US shortly before ‘Liberation Day’ tariffs were announced.

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Commodities

Shanghai Gold Exchange eyes Hong Kong vault to promote yuan-denominated products

The new vault will be part of the exchange’s network that international clients use to manage bullion trading and storage.

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Hong Kong stock market

AIA, Xiaomi lift Hang Seng Index, offsetting losses due to poor China PMI data

China’s April PMI falls to 49 from 50.5 in March and short of the consensus estimate of 49.7.

Hong Kong shares fell on Wednesday after China reported poor manufacturing data for April. Photo: Jelly Tse
Banking & finance

Chinese banks raise consumer loan rates from record low to protect margins

Banks will offer consumer loans at 3 per cent to boost their net interest margins, which hit a low of 1.52 per cent at the end of last year.

Hong Kong stock market

Hong Kong stocks retreat to 4-week low as more Trump tariffs loom

Investor jitters over tariffs set to be unveiled on April 2 outweigh a positive China manufacturing report.

Banking & finance

China’s 4 top state-owned banks to raise US$72 billion from stock sales to boost capital

The fundraising comes after the National People’s Congress vowed earlier this month to recapitalise major state banks.

China Construction Bank is selling shares to the government to boost its tier-one capital. Photo: Reuters
Banking & finance

Chinese state banks’ 2024 profits rise, NPLs dip even as margins thin

All six state-owned commercial banks posted moderate profit growth for last year, as non-performing loan ratios declined slightly.

A branch of the Industrial and Commercial Bank of China (ICBC) in Beijing on April 1, 2019. Photo: Reuters
China-Africa relations

African banks set up shop in China as Beijing pushes for yuan-based trade

African banks are positioning themselves to take full economic advantage as Beijing seeks to de-dollarise its trade.

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Hong Kong Monetary Authority (HKMA)

Exclusive | China’s vice-premier to lead delegation of bankers for HKMA’s finance summit

China’s Vice-Premier He Lifeng will lead delegation to the 2024 Global Financial Leaders Investment Summit in Hong Kong, two sources said.

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Banking & finance

China’s finance sector liberalisation to favour foreign firms: BOC chairman

China’s financial reforms will open up opportunities for foreign players in the vast and growing market, Ge Haijiao says.

Ge Haijiao, chairman of Bank of China, delivers a speech during the Sibos conference in Beijing on Tuesday. Photo: Getty Images
Banking & finance

Exclusive | Hong Kong to turn bankers’ summit into calendar ‘anchor’ on popular demand

The summit is pivoting from the publicity objective of its 2022 inaugural edition to making Hong Kong the venue to discuss issues that affect global banking.

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Chief Executive of Hong Kong SAR John Lee Ka-chiu (right) and Financial Secretary Paul Chan Mo-po during the second Global Financial Leaders’ Investment Summit at the Four Seasons Hotel in Central on 7 November 2023. Photo: May Tse.
China economy

Opinion | China’s path to sustainable growth goes beyond economic stimulus

The path to sustained growth requires an approach that goes beyond short-term intervention and addresses underlying issues.

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Banking & finance

China weighs injecting US$142 billion of capital into top banks

Funding for the first such intervention since the 2008 financial crisis would mainly come from new special sovereign bonds, sources say.

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Banking & finance

Will new policy encourage Chinese banks to invest in struggling start-ups?

Beijing’s encouragement for banks to boost investment in unlisted companies is a big move in the effort to support start-ups, analysts say.

Li Yunze, director of the National Administration of Financial Regulation. Photo: Reuters
Banking & finance

State-owned banks face thinner margins amid Beijing’s call to support economy

At a time when the country faces unprecedented challenges, these state-owned banking giants show their importance as the economy’s lifeline.

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China economy

Opinion | To restore consumer confidence, China must save the property sector

Instead of squandering billions buying unsold properties, Beijing should learn from the US response to the global financial crisis.

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Banking & finance

Liu Jin resigns as Bank of China’s president for ‘personal reason’

The move came as a surprise as Liu, born in 1967, has yet to reach the official retirement age of 60 years for men.

Liu Jin, President of Bank of China, during the Global Financial Leaders’ Investment Summit at the Four Seasons Hotel in Hong Kong’s Central district on 2 November 2022. Photo: Sam Tsang.
John Lee

Hong Kong to explore easing visitor rules with 3 Asean countries, John Lee says

City leader says ‘fruitful’ six-day trip to Laos, Cambodia and Vietnam resulted in 55 cooperation agreements and promoted people-to-people exchanges.

John Lee checks out the goods at a Hong Kong firm’s shirt factory in Vietnam. Photo: ISD
Banking & finance

Saudi Arabia wealth fund signs US$50 billion deals with 6 Chinese institutions

Agreements with top financial institutions including BOC, CCB and ICBC aim to promote two-way capital flows through both debt and equity, Public Investment Fund says.

Banking & finance

China’s banks to sell US$60 billion of loss-absorbing bonds to meet PBOC’s norms

ICBC and BOC line up issuance plans for 60 billion yuan worth of total loss-absorbing capacity (TLAC) bonds as Chinese G-SIBs (global systemically important banks) are expected to sell 440 billion yuan of these newly introduced bonds.

Banking & finance

Fitch cuts outlook for China’s state-owned banks from stable to negative

The move by Fitch Ratings comes a week after it cut its projection for the country’s sovereign credit rating, reflecting pessimism in the world’s second largest economy and concerns over Beijing’s capacity to support its biggest lenders.

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Fitch said the current size of China’s banking system limits the amount of support the central government could give to its biggest lenders. Photo: Reuters
China Construction Bank

China Construction Bank expects more policy support from Beijing

China’s financial regulators could continue to lower financing costs as a means to shore up confidence, according to CCB chief financial officer Sheng Liurong.

China Construction Bank, the country’s second-largest bank by assets, remains confident in the strategic policy measures being pursued by Beijing. Photo: Shutterstock
Banking & finance

‘Positive signs of recovery’: China’s largest state-owned banks post earnings growth

Results came despite government calls to slash rates and inject liquidity into the country’s slumping property sector.

Banking & finance

Major Hong Kong lenders leave interest rates unchanged

HSBC, Standard Chartered and BOCHK – the city’s three note-issuing banks – will keep their lending and deposit rates unchanged, meaning borrowers will have to keep waiting for interest relief.

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