In February 1912, with the approval of Mr. Song Yatsen, the «Bank of China» was formally established. «Bank of China» is the oldest bank in China today. From 1912 to 1949, the «Bank of China» consistently performed the functions of a central bank, an international exchange bank and an international merchant bank, specializing in servicing the population and reviving national finances as its own responsibility. After difficulties and hard struggle, he was a leader in the national financial industry for a long time and took a place in the international financial community.
Since 1949, «Bank of China» has long been a national bank for foreign currency and foreign trade, managing the national currency, settling international trade, transferring abroad and other non-trading operations with foreign currency, and strongly supporting the development of foreign trade and economic construction. After the reform of openness, «Bank of China» firmly used the country's historic opportunity to use foreign funds and advanced technologies to accelerate economic construction and took full advantage of the unique advantages of a long-term foreign exchange business, becoming the country's main channel for foreign investment.
In 1994, «Bank of China» was completely transformed into a state-owned commercial bank, and on August 26, 2004, into a joint-stock commercial bank, «Bank of China Limited». In June 2006, «Bank of China» was successfully listed on the Hong Kong and Shanghai stock exchanges, becoming the first Chinese commercial bank to issue and place bank shares on Chinese exchanges. After serving the 2008 Summer Olympics in Beijing, «Bank of China» became the official banking partner of the Beijing Winter Olympics and Paralympics of 2022, and in 2017 it became the only "Double Olympic Bank" in China. In 2018, «Bank of China» was re-selected as the global systemically important bank and became the only financial institution selected in emerging market economies for eight consecutive years.
«Bank of China» is the most globalized and integrated bank in China, has institutions in mainland China and 57 countries and regions, and has a relatively complete global service network. He has formed a comprehensive service platform for corporate banking, personal finance and financial markets and other commercial banking services, covering investment banking, private equity, securities, insurance, funds, aircraft leasing and other areas to provide comprehensive financial services to customers. «Bank of China» branches in Hong Kong and Macau act as the local bank issuing banknotes.
«Bank of China» occupies:
5th place in the list of the largest companies in China for 2019. (according to Forbes)
7th place (out of 200) in China, in the ranking of companies by capitalization for 2019.
8th place in the list of the largest companies in the world in 2019. (according to Forbes)
9th place in China in terms of net income for 2019
140th place in China, by dividend yield for 2019