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The Bank of China (BOC; Chinese: 中国银行; pinyin: Zhōngguó Yínháng; Portuguese: Banco da China) is a state-owned Chinese multinational banking and financial services corporation headquartered in Beijing, China. It is one of the "big four" banks in China.
BOC International Holdings Limited, shortly BOCI, is the wholly owned subsidiary of Bank of China, which offers investment banking and securities brokerage services. It was established in 1998 and headquartered in Hong Kong. It has subsidiaries in New York, London, Singapore, Beijing, Shanghai, Guangzhou and Chongqing. [1] [2] [3]
On 1 April 1987, it was restructured and re-commenced operations as the first state-owned bank in China. [citation needed] Postal Savings Bank of China has the most outlets of any retail bank in China (~40,000). [3] Over 80% of its outlets accompany China Post post offices. [citation needed]
In 1979, China initiated a transition from that single-tier banking system to a two-tier system, which was largely completed by 1984. [11]: 188–189 In March 1979, as part of the Chinese economic reforms, the State Council split off state-owned banks from the PBC, first the Agricultural Bank of China (ABC) and the Bank of China (BOC).
The Industrial and Commercial Bank of China (ICBC; Chinese: 中国工商银行) is a Chinese partially state-owned multinational banking and financial services corporation headquartered in Beijing, China. It is the largest of the "big four" banks in China, and the largest bank in the world by total assets. [8]
A bank holding company is a corporate entity that owns a controlling interest in one or more banks. While a bank holding company doesn’t offer banking services directly, it manages banks that do.
Canada bought $27.9 billion worth of US agricultural exports in the 2023 fiscal year, making it the third-biggest buyer in the world behind only China ($33.7 billion) and Mexico ($28.2 billion).
China's Reserve Requirement Ratio for large banks. China's banking sector had CN¥417 trillion (US$58.54 trillion) in assets at the end of 2023. [1]The "Big Four" state-owned commercial banks are the Bank of China, the China Construction Bank, the Industrial and Commercial Bank of China, and the Agricultural Bank of China, all of which are among the largest banks in the world as of 2018.