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
last updated:
27 August, 2024
More African banks are opening branches and offices in China to help facilitate growing trade ties. Photo: Shutterstock
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

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Banking & finance

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

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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Banking & finance

Explainer | What changes are taking place in China’s US$232 trillion repo market?

China’s next big impending change in the financial market is letting more foreign institutional investors into its onshore repo market.

People walk through Exchange Square in Central, Hong Kong in October 2022. Photo AFP
Banking & finance

Year of the Dragon: most popular Chinese zodiac sign dominates lai see packets

Many financial firms including UBS, Julius Baer, and KGI Asia have opted to use the dragon’s image on their lai see envelopes as opposed to a generic design, illustrating the mythical creature’s popularity with the public.

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Hong Kong Monetary Authority (HKMA)

Hong Kong banks hold rates steady as Fed keeps options open on cuts

The banks’ decisions followed the Hong Kong Monetary Authority (HKMA), which left the city’s base rate at 5.75 per cent hours after the Fed kept its target range unchanged in its first policy move of the year.

Banking & finance

China’s biggest banks lower deposit rates for third time to boost profitability

China’s largest state-owned banks are lowering their deposit rates for the third time in 2023, in their latest effort to ease the pressure on their net interest margins and to improve profitability.

A Bank of China branch in Beijing’s central business district. The bank is among lenders cutting deposit rates on some of their products by as much as 25 basis points. Photo: EPA-EFE
China digital currency

Bank of China completes cross-border settlement for metals trading using e-CNY

China has been expanding the use of its sovereign digital currency in cross-border businesses, with the Bank of China completing the first cross-border settlement for precious metals trading.

A booth promoting the digital version of China's yuan in Beijing on September 2, 2022. Photo: AP
Corruption in China

Chinese banker jailed for life in US$483 million corruption case

‘Significant damage’ inflicted through fraudulent loans, misappropriated repayments and the siphoning of bank funds to other accounts, court says.

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Banking & finance

Virtual lender Livi eyes further SME business growth after strong 2023

Livi Bank, a virtual bank backed by the Bank of China (Hong Kong), will continue to expand lending to SMEs as it views the segment as a future growth engine after strong growth this year, CEO David Sun says.

Yuan

‘New stage’ of cooperation as 1 of China’s big 4 banks opens Saudi Arabia branch

Bank of China (BOC), one of China’s four biggest state-owned banks, opened its branch in Riyadh on Tuesday amid growing economic activity between China and Saudi Arabia.

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Saudi Central Bank governor Ayman al-Sayari inaugurated the opening ceremony of the Bank of China’s branch in Riyadh. Photo: Twitter@SAMA_GOV
Banking & finance

Bank of China, ICBC profit growth tanks as property crisis takes a toll

Both lenders comfortably missed analysts’ estimates for net profit amid a stagnant economic recovery and an escalating property crisis that has dampened creditor confidence, though both reported a slight drop in their non-performing loans ratio.

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ICBC, the world’s largest bank with total assets of 43.67 trillion yuan (US$5.99 trillion), reported a 1.2 per cent year-on-year gain in net profit to 173.74 billion yuan. Photo: Reuters
Green finance

Exclusive | ING Bank to increase hiring in Asia amid growing demand for green finance

ING, the largest lender in the Netherlands, plans to escalate its staff recruitment efforts to meet the growing green finance opportunities across the region, according to the Dutch bank’s head of wholesale banking.

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Banking & finance

HSBC’s second-quarter profit beats estimates on gains from higher interest rates

HSBC’s pre-tax profit was US$8.77 billion, ahead of US$7.96 billion expected by analysts, as it benefited from a strong interest rate environment.

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