Bank of China was formally established in February 1912 pursuant to the approval of Mr. Sun Yat Sen. In the following 37 years until the founding of the People's Republic of China in 1949, the Bank served as the central bank, international exchange bank and specialised foreign trade bank of the country. As the pillar of the country's financial industry during a period of turmoil in history, Bank of China was committed to serving the public and developing the nation's financial industry and achieved significant developments in many areas of its business operations through prudent management and progressive reforms. After the founding of the People's Republic of China, Bank of China became the state-designated specialised foreign exchange and foreign trade bank. Having maintained and promoted its strong entrepreneurial spirit, the Bank contributed substantially to the development of the country's foreign trade and the national economy.
Bank of China is one of the major domestic financial service providers. Its business scope covers commercial banking, investment banking and insurance. Members of the Group include BOCHK, BOCI, BOCG Insurance and other financial institutions. The core business of the Bank is commercial banking which includes corporate banking, personal banking and financial markets. In terms of tier one capital, it ranked 9th among the world's top 1,000 banks by The Banker magazine in 2007.
With a history of almost a hundred years in the financial industry of China, Bank of China is wellknown for its continuous business innovations while emphasising prudence in its operations. It is widely recognised and commended by its peers and customers in international settlement, foreign exchange, trade finance, etc. Bank of China is the most internationalised bank in China and the forerunner to recruit international experts and to introduce modern business management concepts into its operations with a view to becoming a premier international bank.
As the sole banking partner of the Beijing 2008 Olympic Games, Bank of China will offer efficient and high quality financial services to domestic and foreign customers. It will promote and spread the Olympic spirits and contribute to the success of this magnificent sports event, thereby improving its corporate image and its value to the community.
updated as per 2007 Annual Report
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