Bank of China

Bank of China Limited

Bank of China Headquarters in Beijing, China, inaugurated in 2001
Native name	中国银行股份有限公司
Company type	Public State-owned
Traded as	SSE: 601988 (A share) SEHK: 3988 (H share) SSE 50 Component (A) Hang Seng Component (H)
ISIN	CNE000001N05 CNE1000001Z5
Industry	Financial services
Founded	1905 (as Da-Qing Bank) 1912 (as Bank of China) 1979 (re-established)
Founder	Chen Jintao
Headquarters	Beijing , China[1]
Area served	Worldwide
Key people	GE Haijiao (Chairman & President)
Products	Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, Securities, asset management, wealth management
Revenue	CN¥503.81 billion $73.23 billion[2] (2018)
Operating income	CN¥227.53 billion $33.07 billion[2] (2018)
Net income	CN¥192.44 billion $27.97 billion[2] (2018)
Total assets	CN¥21.267 trillion $3.091 trillion[2][3] (2018)
Total equity	CN¥1.613 trillion $234 billion[2] (2018)
Owner	Government of the People's Republic of China
Number of employees	306,322[4] (2021)
Subsidiaries	Bank of China (Hong Kong) Bank of China (Canada)
Capital ratio	16.91% (2021)[5]
Rating	A, A-1, Stable (S&P) A1, P-1, Stable (Moody's) A, F1+, Stable (Fitch)[6]
Website	boc.cn bankofchina.com bank-of-china.com bocusa.com

The Bank of China (BOC; Chinese: 中国银行; pinyin: Zhōngguó Yínháng) is a Chinese majority communist-owned commercial bank headquartered in Beijing and one of the very largest banks in the world.

The Bank of China was formed in 1912 by renaming the Qing dynasty's Da-Qing Bank (est. 1905) under the newly established Republican government. Until 1942, it issued banknotes on behalf of the government as one of the "Big Four" banks of the period, together with the Bank of Communications (est. 1908), Central Bank of China (est. 1924), and Farmers Bank of China (est. 1933). Following the Chinese Communist Revolution in 1949, the bank continued activity in Taiwan where it renamed itself International Commercial Bank of China upon privatization in 1971, while its mainland operations were absorbed into the People's Bank of China (PBC). In 1979, the Bank of China was re-established by spin-off from the PBC in the early phase of Chinese economic reform.

As of 31 December 2019, it was the second-largest lender in China overall and ninth-largest bank in the world by market capitalization value,^[7] and it is considered a systemically important bank by the Financial Stability Board. As of the end of 2020, it was the fourth-largest bank in the world in terms of total assets, ranked after the other three Chinese banks.^[8]

The Bank of China (Hong Kong) is the local subsidiary of the Bank of China, with which it maintains close relations in management and administration and co-operates in several areas including reselling BOC's insurance and securities services.