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Bank of China (BOC)

(中国银行)

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A video address by China’s Vice Premier He Lifeng during the Global Financial Leaders’ Investment Summit in Hong Kong on 7 November 2023. Photo: May Tse

Exclusive | China’s vice-premier to lead delegation of bankers for HKMA’s finance summit

China’s Vice-Premier He Lifeng will lead delegation to the 2024 Global Financial Leaders Investment Summit in Hong Kong, two sources said.

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

Exclusive | Hong Kong to turn bankers’ summit into calendar ‘anchor’ on popular demand

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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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Shoppers pass a Huawei store on Nanjing East Road in Shanghai, on October 2. Restoring consumer confidence and furthering a shift to an economy based more on domestic consumption were among the primary goals of Beijing’s recent stimulus measures. Photo: Bloomberg

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.

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.

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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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An advertisement displaying the interest rate for loans at a branch of the Industrial and Commercial Bank of China in Chengdu, capital of southwestern Sichuan province. Photo: Bloomberg

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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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.

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

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.

PIF has signed six memorandums of understanding (MoUs) worth up to $50 billion with leading Chinese financial institutions. Photo: PIF

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.

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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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

‘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.

In 2024, the Agricultural Bank of China expects its asset quality to remain steady, owing in part to policy measures that have boosted growth and employment, an executive says. Photo: Reuters

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.

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.

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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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‘The Year of the Dragon holds special significance in markets like Hong Kong and Singapore,’ says Geraldine Walsh at Janus Henderson, a global fund management firm. Photo: SCMP Pictures

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.

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.

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

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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Xu Guojun’s personal assets were confiscated, and he was ordered to surrender all his illegal gains. Photo: Intermediate People’s Court of Jiangmen

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.

‘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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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

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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The volume of green and sustainable financing deals arranged by ING Bank globally grew by almost 20 per cent in the first half of this year, according to Andrew Bester, the Dutch lender’s head of wholesale banking. Photo: Shutterstock

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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Standard Chartered’s profit tops estimates on gains in Asia, transaction banking

Standard Chartered’s pre-tax profit was US$1.52 billion in the second quarter as it beat a consensus estimate of US$1.37 billion.

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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
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