Bank of China

The Bank of China, the fourth-largest bank in the world with its headquarters in Beijing, is a commercial bank with a majority of Chinese ownership.

The Ta-Ching Government Bank of the Qing Dynasty was replaced by the Bank of China, established in 1912 by the Republican government to serve as China's central bank. After the 1908-founded Bank of Communications, China's second-oldest bank is still in operation. It was one of the "Big Four" banks of the era, along with the Farmers Bank of China, Bank of Communications, and Central Bank of the Republic of China, that printed banknotes on behalf of the government from its founding until 1942. The People's Republic was founded in 1949, and since then, it has developed into a nationwide professional commercial and foreign exchange bank. The newly established People's Bank of China maintained its initial designation as the country's central bank.

The Financial Stability Board classifies it as a systemically important bank. As of December 31, 2019, it was the ninth-largest bank in the world by market capitalization value and the second-largest lender in China overall. It ranked after the other three Chinese banks as the fourth largest in the world at the end of 2020 in total assets.

Although they maintain tight ties in management and administration and collaborate in several areas, including reselling BOC's insurance and securities services, the Bank of China and its subsidiary, the Bank of China (Hong Kong), are legally independent entities.

Founded: 1912

Headquarters: Beijing, China

Website: https://www.boc.cn