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Bank of China

Company nameBank of China Limited
 
Company typePublic company
IndustryBanking
Financial services
FoundedBeijing, China (, 1912)
HeadquartersBeijing
Area servedWorldwide
Key peopleXiao Gang, Chairman
Li Lihui, President
ProductsFinance and insurance
Consumer Banking
Corporate Banking
Investment Banking
Investment Management
Global Wealth Management
Private Equity
Mortgages
Credit Cards
Revenue(+) US$ 69.1 billion (2010)
Net income(+) US$ 18.8 billion (2010)
Total assets(+) US$ 1.723 trillion (2010)
Employees389,827 (2010)

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Bank of China Limited (BOC) SSE - 601988 Sehk - 3988 (; often abbreviated as 中銀 or 中行) is one of the big four state-owned commercial banks of the People's Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China. From its establishment until 1942, it issued banknotes on behalf of the Government of the Republic of China along with the "Big Four" banks of the period: the Central Bank of China, Farmers Bank of China and Bank of Communications. Although it initially functioned as the Chinese central bank, in 1928 the Central Bank of China replaced it in that role. Subsequently, BOC became a purely commercial bank. Its headquarters are in Xicheng District, Beijing.

In December 2010, the Bank of China New York branch began offering RMB products for Americans. This is the first major Chinese bank to offer such a product currently.


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