Bank of China

Bank of china

Bank of China (BOC) is a state-owned commercial bank in the People’s Republic of China. Bank of China provides personal banking and cooperation with banking in China and several foreign countries.

Bank of China Tower, a triangular glass skyscraper in Hong Kong, completed in 1989. The Hong Kong headquarters of the Beijing-based Central Bank of China, composed with other occupants. Rising 1,205 feet (367 meters), the skyscraper was for a few years the tallest building in the world outside the United States. Designed by the American architect I.M. Pei, the tower has a distinctive three-dimensional triangular shape (quadrilateral at the bottom and trilateral at the top). In the interior floors of Bank of China Tower are irregular, ending in points and angles, and are completely sided by windows, with multiple views. The 70-story building of Bank of China Tower is topped by twin poles, though these are a purely decorative flourish.

Bank of China is the Bank with the longest unremitting operation among Chinese banks. The Bank of China was formally established in February 1912. Since 1912 to 1949, the Bank served successively as the country’s central bank, global exchange bank, and specialized world-wide trade bank. Fulfilling its assurance to portion the public and developing Chinese banks services sector, the Bank raised to a foremost position in the Chinese banks industry and developed a good standing in the global financial community, despite many hardships and setbacks of Chinese banks.

Bank of China
Bank of China India

Subsequently in 1949, drawing on its long history as the state-designated specialized foreign discussion and trade bank, the Bank of China became responsible for managing China’s foreign exchange operations and provided vital support to the nation’s foreign trade development and economic infrastructure through its offering of international trade settlement, overseas fund transfer and other non-trade foreign exchange facilities. Throughout China’s reform and opening-up period, the Chinese banks detained the important prospect obtainable by the government’s strategy of capitalizing on foreign funds and advanced technologies to boost economic development and became the country’s key foreign financing channel by building up its competitive advantages in the foreign exchange business. In 1994, the Bank of China was rehabilitated into a wholly state-owned commercial bank. In August 2004, the Bank of China Limited was incorporated. The Bank of China was registered on the Hong Kong Stock Exchange and the Shanghai Stock Exchange in June and July 2006 respectively, becoming the first Chinese commercial bank to launch an A-Share and H-share original public offering and attain a dual citation in both markets.

The bank functioned in the Beijing 2008 Olympic Games, the Bank became the official banking partner of the Beijing 2022 Olympic and Paralympic Winter Games in 2017, thus making it as the individual bank in China to assist two Olympic Games. In 2018, Bank of China was again designated as a Global Systemically Important Bank, thus flattering the sole financial institution from an emerging economy to be labelled as a Global Systemically Important Bank for eight consecutive years.

Bank of China has inaugurated its business in India by initiation the first branch in Mumbai in June 2019. The Bank of China India branch works on the international network of Bank of China across the globe, with world-class banking, professional strengths, and a diversified platform of the Bank across various sectors. Operating strictly in obedience with local laws and guidelines, Bank of China India Branch provides comprehensive business services in Corporate Banking, Treasury, and Branch Banking.

The Bank of China India branch works on the international network of Bank of China across the globe, with world-class banking, professional strengths, and a diversified platform of the Bank across various sectors. Operating strictly in compliance with local laws and regulations, Bank of China India Branch provides comprehensive business services in Corporate Banking, Treasury, and Branch Banking in commercial bank.

Bank of China India
Bank of China India

Bank of China has always supported the essence of “pursuing excellence” during its hundred-year history, thereby building up a strong brand that is widely recognized within the industry and by its customers. Understanding the need to further motivate and strengthen economic engagement, we are ready to contribute our expertise to support India’s businesses and encourage cross-border investments between India and China.

Bank of China, one of the four leading state-run commercial banks of China, has underway India processes with a maiden branch in Mumbai. “The launch of Chinese banks in India comes after a series of successful meetings between Indian Prime Minister Narendra Modi and Chinese President Xi Jinping in 2018 to reinforce the planned commitment between the 2 countries,” the lender said in a statement. The Bank of China India started its operations to facilitate financial transactions related to corporate banking in India. The 107-year-old bank has been nominated as a Global Systemically Important Bank for eight successive years. Bank of China has signed a memorandum of understanding (MoU) with State Bank of India (SBI) to facilitate corporate clients of both the banks to access each other’s banking products and services, which will lead to a mutually beneficial relationship, the lender said.

 

Leave a Reply

Your email address will not be published. Required fields are marked *