Bank of China


The Bank of China's history began in 1905, when the Qing government established Daqing Hubu Bank[5] (大清户部銀行) in Beijing, which was in 1908 renamed to Daqing Bank (大清銀行). When the Republic of China was established in 1912, it was further renamed as Bank of China by President Sun Yat-sen's government, adding a new role of the central bank.[6] After the Chinese Civil War ended in 1949, the Bank of China effectively split into two operations. Part of the bank relocated to Taiwan with the Kuomintang (KMT) government and was privatised in 1971 to become the International Commercial Bank of China (中國國際商業銀行). In 2002, it merged with Chiao Tung Bank (交通銀行) to become the Mega International Commercial Bank. The Mainland operation is the current entity known as the Bank of China. It is the second largest lender in China overall, and the fifth largest bank in the world by market capitalization value.[4] Once 100% owned by the central government, via China Central Huijin and National Council for Social Security Fund (SSF), an Initial public offering (IPO) of its shares took place in June 2006, the free float is at present over 26%. In the Forbes Global 2000 it ranked as the 4th-largest company in the world.[7]

 

Bank Name Bank of China
Stock Exchange HKG
Symbol 3988
Sector Financial Services
Industry Banking, financial services
Country
World Region Australia
Chairman
CEO Mr. Xixu Sun
Employees 310042
Website www.boc.cn
Registered Year 2004

 

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