This article is about the commercial bank in China. For the central bank of China, see People's Bank of China. For the Filipino banking company, see Chinabank.
Bank of China Limited
Bank of China Headquarters in Beijing, China, inaugurated in 2001
Native name
中国银行股份有限公司
Company type
Public State-owned
Traded as
SSE: 601988 (A share)
SEHK: 3988 (H share)
SSE 50 Component (A)
Hang Seng Component (H)
ISIN
CNE000001N05
CNE1000001Z5
Industry
Financial services
Founded
1905 (as Da-Qing Bank) 1912 (as Bank of China) 1979 (re-established)
The Bank of China (BOC; Chinese: 中国银行; pinyin: Zhōngguó Yínháng) is a Chinese majority state-owned commercial bank headquartered in Beijing and one of the very largest banks in the world.
The Bank of China was formed in 1912 by renaming the Qing dynasty's Da-Qing Bank (est. 1905) under the newly established Republican government. Until 1942, it issued banknotes on behalf of the government as one of the "Big Four" banks of the period, together with the Bank of Communications (est. 1908), Central Bank of China (est. 1924), and Farmers Bank of China (est. 1933). Following the Chinese Communist Revolution in 1949, the bank continued activity in Taiwan where it renamed itself International Commercial Bank of China upon privatization in 1971, while its mainland operations were absorbed into the People's Bank of China (PBC). In 1979, the Bank of China was re-established by spin-off from the PBC in the early phase of Chinese economic reform.
As of 31 December 2019, it was the second-largest lender in China overall and ninth-largest bank in the world by market capitalization value,[7] and it is considered a systemically important bank by the Financial Stability Board. As of the end of 2020, it was the fourth-largest bank in the world in terms of total assets, ranked after the other three Chinese banks.[8]
The Bank of China (Hong Kong) is the local subsidiary of the Bank of China, with which it maintains close relations in management and administration and co-operates in several areas including reselling BOC's insurance and securities services.
^Corporate Information, Bank of China, https://pic.bankofchina.com/bocappd/report/201104/P020110427563098317418.pdf Archived 9 May 2021 at the Wayback Machine
^ abcde"Annual Report 2018" (PDF). Bank of China Limited. Archived (PDF) from the original on 2 June 2019. Retrieved 2 June 2019.
^"2013 Annual Report" Archived 4 December 2014 at the Wayback Machine Bank of China 2013 Annual Report, Pic.bankofchina.com
^中国银行股份有限公司, "中国银行股份有限公司2021年年度报告" Archived 17 May 2022 at the Wayback Machine, 中国银行股份有限公司, 29 March 2022. p 69. Retrieved 2022-05-16.
^中国银行股份有限公司, "中国银行股份有限公司2021年资本充足率报告" Archived 17 May 2022 at the Wayback Machine, Bank of China Limited, 29 March 2022. Retrieved 2022-05-16.
^Bank of China, "Credit Rating" Archived 28 October 2020 at the Wayback Machine, Bank of China, 12 December 2019. Retrieved 2022-05-16.
^"Global 500 December 2009 : Market values and prices at 31 December 2009" (PDF). Media.ft.com. Archived (PDF) from the original on 13 March 2010. Retrieved 28 March 2017.
^"These are the 28 biggest banks in the world — each one with more than $1 trillion of assets". Business insider. 24 May 2018. Archived from the original on 2 March 2019. Retrieved 1 March 2019.
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Global Information
CN¥503.81 billion