Bank of China



Bank of China was established in 1912 persuant to the approval of China's first President, Sun Yat-sen. The bank serves as the country's first central bank, international exchange bank and foreign trade bank for the following 37 years until the founding of the People's Republic of China. It then became a state-designated specialised foreign exchange and foreign trade bank to facilitate the development of China's foreign trade and national economy. Bank of China's London Branch was established in 1929 as the first foreign overseas branch of a Chinese company. In 1994, the Bank of China was established as a state-owned commercial bank. Later, in 26-Aug-2004, it was formally incorporated in Beijing as a state-controlled JSC and was listed in the Hong kong Stock Exchange and Shanghai Stock Exchange. BOC International is a wholly-owned subsidiary of the Bank of China. The bank also owns a 70% stake in lessor, BOC Aviation.

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