Bank of China (Hong Kong) Limited () also known as its short name Bank of China (Hong Kong) or BOCHK (), is a subsidiary of the
Bank of China
The Bank of China (BOC; ) is a Chinese majority state-owned commercial bank headquartered in Beijing and the fourth largest bank in the world.
The Bank of China was founded in 1912 by the Republican government as China's central bank, repl ...
(via a Hong Kong-listed intermediate holding company BOC Hong Kong (Holdings)). Bank of China (Hong Kong) is the second-largest
commercial banking group in
Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...
in terms of
asset
In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that ca ...
s and customer
deposits (2008 data), with more than 190 branches across Hong Kong as of the end of 2019.
[ It is also one of the three commercial banks licensed by the ]Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) is Hong Kong's central banking institution. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged. The organisatio ...
to issue banknotes for the Hong Kong dollar
The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kon ...
.
BOCHK is legally separated from its parent, Bank of China
The Bank of China (BOC; ) is a Chinese majority state-owned commercial bank headquartered in Beijing and the fourth largest bank in the world.
The Bank of China was founded in 1912 by the Republican government as China's central bank, repl ...
(BOC), although they maintain close relations in management and administration and co-operate in several areas including reselling BOC's insurance and securities
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any fo ...
services. BOCHK is also the biggest member and a founder of the JETCO ATM and payment system, and the designated clearing bank in Hong Kong for transactions involving the Renminbi (RMB / CNH).
BOCHK was established on 1 October 2001 from a merger of 12 subsidiaries and associates of the Bank of China
The Bank of China (BOC; ) is a Chinese majority state-owned commercial bank headquartered in Beijing and the fourth largest bank in the world.
The Bank of China was founded in 1912 by the Republican government as China's central bank, repl ...
in Hong Kong, and listed on the Hong Kong Stock Exchange
The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is rep ...
in October 2002
. As of the end of 2019, the bank had HKD3,026 billion in assets and operating profit of HKD39.8 billion.[ Its head office is in the Bank of China Tower in ]Central, Hong Kong
Central (also Central District) is the central business district of Hong Kong. It is located in Central and Western District, on the north shore of Hong Kong Island, across Victoria Harbour from Tsim Sha Tsui, the southernmost point of Kow ...
. The head office is shared with the Hong Kong units of its parent company; completed in 1988, and was the first building outside of North America to exceed 1,000 feet (300 m).
History
Bank of China Group
The opening of a branch of the Bank of China in Hong Kong in 1917 marked the entry of state-owned Chinese banks into the then-colony's banking sector. Other banks soon followed suit, starting with Yien Yieh Commercial Bank in 1918. By the time the People's Republic of China was established in 1949, there were 15 branches of state owned Chinese banks in Hong Kong, plus branches of nine Mainland-incorporated banks that were public-private joint ventures. In addition, the Chinese government established Po Sang Bank in 1949 and Nanyang Commercial Bank in 1950. Both of these were incorporated in Hong Kong.
In 1952, the nine public-private banks (namely, Sin Hua Bank Limited, China & South Sea Bank, Kincheng Banking Corporation, China State Bank Limited, The National Commercial Bank Limited
The National Commercial Bank Limited, also known as Zhejiang Xingye Bank (), was a Chinese bank considered one of the "Three Southern Banks" during nationalist government era. It was merged to Bank of China (Hong Kong) in 2001.
History
*1907: ...
, Yien Yieh Commercial Bank, Young Brothers Banking Corporation, Wo Sang Bank and National Industrial Bank of China) were grouped into the Joint Office of Joint Public-Private Banks. The Hong Kong branches of the last three of these nine were closed in 1954 when their parents were shut down by the central government, and management of the remaining six public-private banks were transferred to the Hong Kong and Macau Regional Office of the Bank of China in 1958. The Bank of China later took over management of the Hong Kong branches of Kwangtung Provincial Bank
The Kwangtung Provincial Bank () was a bank latterly based in Hong Kong, also known as the Provincial Bank of Kwangtung Province. The largest of the provincial banks, there were however a succession of at least seven distinct organisations trading ...
, Hua Chiao Commercial Bank and the Bank of Communications
Bank of Communications Limited (BoComm) (; often abbreviated as ), is the fifth-largest bank in mainland China.
Established in 1908, the Bank of Communications claims a long history in China and is one of the banks to have issued banknotes in mo ...
(HKSE: 3328).
In June 1975, the Bank of China moved to increase the capital of the public-private banks. As all of the new capital was from the Chinese government, private ownership in the public-private banks was substantially reduced, in some cases to less than 1%.
The 14 banks were rebranded as part of the Bank of China Group in the 1980s, after a common IT platform was established. Treasury and foreign currency exchange operations were also centralised. However, the individual banks retained their own management. They are now the second largest banking group in Hong Kong.
Restructuring and listing
The Hong Kong branch of the Bank of Communications broke off from the Bank of China Group in 1998. The Bank of China Group started to restructure its operations in 1999 in preparation for an initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...
. All minority shareholders (except for those of Chiyu) were bought out by the Bank of China. Formal plans for a restructuring received the approval of the People's Bank of China and were launched in January 2001.
The restructuring saw all operations of the Mainland-incorporated group members merged into Po Sang Bank, which was then immediately renamed Bank of China (Hong Kong) Limited. Hong Kong incorporated Nanyang Commercial Bank and Chiyu Banking Corporation became subsidiaries of Bank of China (Hong Kong) Limited. Legislation was required for the merger, as Hong Kong does not allow mergers via the pooling of interests
Pool may refer to:
Water pool
* Swimming pool, usually an artificial structure containing a large body of water intended for swimming
* Reflecting pool, a shallow pool designed to reflect a structure and its surroundings
* Tide pool, a rocky pool ...
, a common procedure in the United States. The ''Bank of China (Hong Kong) Limited (Merger) Ordinance'' was approved by the Legislative Council of Hong Kong
The Legislative Council of the Hong Kong Special Administrative Region (LegCo) is the unicameral legislature of Hong Kong. It sits under China's " one country, two systems" constitutional arrangement, and is the power centre of Hong Kon ...
on 12 July 2001, and the merger was completed on 1 October 2001.
Corporate structure and BOC Hong Kong Holdings
Bank of China (Hong Kong) is a listed company of the Stock Exchange of Hong Kong
The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is rep ...
, via its parent company BOC Hong Kong (Holdings) Limited (BOCHK Holdings). The holding owned 100% shares of the bank.
Moreover, American depositary receipt
An American depositary receipt (ADR, and sometimes spelled ''depository'') is a negotiable security that represents securities of a foreign company and allows that company's shares to trade in the U.S. financial markets.
Shares of many non-U.S ...
of the shares of the holdings, were traded on OTC Market.
BOCHK Holdings is a constituent of the Hang Seng Index
The Hang Seng Index (HSI) is a freefloat-adjusted market- capitalization-weighted stock-market index in Hong Kong. It is used to record and monitor daily changes of the largest companies of the Hong Kong stock market and is the main indicator ...
. The listing of BOCHK Holdings in July 2002 listing was the first international stock listing by a Mainland China
"Mainland China" is a geopolitical term defined as the territory governed by the People's Republic of China (including islands like Hainan or Chongming), excluding dependent territories of the PRC, and other territories within Greater Chin ...
bank; until that time, other Mainland Chinese bank listings were done in the domestic "A-share" market.
For the 12 months ended 31 December 2019, BOCHK Holdings earned HKD58.4 billion in operating income and HKD34.1 billion in net profit. As of the end of 2019, 65.65% of BOCHK Holdings is held by Bank of China Group,[ in turn 69.265% owned by ]Central Huijin Investment
Central Huijin Investment Co., Ltd. is a Chinese investment company owned by the government of the People's Republic of China. Established in 2003, it became a wholly owned subsidiary of China Investment Corporation, with its own Board of Director ...
, an investment holding company 100% owned by the Government of the People's Republic of China.
Operations
BOCHK offers a comprehensive range of financial products and services to retail and corporate customers, similar to those offered by most commercial banks. It is primarily known for its interest-income business (taking deposits from retail customers for loans to corporates) although it has been moving into other non-interest-income areas such as personal loans, wealth management and other financial services in recent years. It has Hong Kong's biggest branch network including approximately 190 branches, 280
automated banking centres, over 1,000 automatic teller machine
An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, fund ...
s as of end 2019.[
BOCHK is one of the key mortgage lenders in Hong Kong. The other key lenders include ]HSBC
HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 tri ...
and Hang Seng Bank
Hang Seng Bank Limited () is a Hong Kong-based banking and financial services company with headquarters in Central, Hong Kong. It is one of Hong Kong's leading public companies in terms of market capitalisation and is part of the HSBC Group ...
.
Within Mainland China
"Mainland China" is a geopolitical term defined as the territory governed by the People's Republic of China (including islands like Hainan or Chongming), excluding dependent territories of the PRC, and other territories within Greater Chin ...
, BOCHK operates 14 branches () separately from its parent. BOCHK is treated as a foreign bank, more properly, 境外銀行 (''banks outside of the territory''), for regulatory purposes as it is incorporated in Hong Kong. However, partly to clear up confusion between it and its parent in the mainland, it shifted all of its mainland-based business to Nanyang Commercial Bank in 2007.
Renminbi clearing bank
BOCHK has been the designated clearing bank for personal transactions involving the Renminbi (CNY, the currency of Mainland China
"Mainland China" is a geopolitical term defined as the territory governed by the People's Republic of China (including islands like Hainan or Chongming), excluding dependent territories of the PRC, and other territories within Greater Chin ...
) in Hong Kong since February 2004. This means that BOCHK acts as a settlement agent for RMB banknotes and funds in Hong Kong and an intermediary between banks in Hong Kong and the People's Bank of China, the central bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union,
and oversees their commercial banking system. In contrast to a commercial bank, a centra ...
of the People's Republic of China. In return, BOCHK takes a 0.125% cut of all RMB deposits in Hong Kong that are repatriated back to Mainland China.
The chief executive of Hong Kong
The Chief Executive of the Hong Kong Special Administrative Region is the representative of the Hong Kong Special Administrative Region and head of the Government of Hong Kong. The position was created to replace the office of governor o ...
announced on 18 November 2003 that the People's Bank of China had agreed to provide clearing arrangements, marking for the first time that the Renminbi, which is fully on the current account but not on the capital account, has been allowed to clear outside of Mainland China
"Mainland China" is a geopolitical term defined as the territory governed by the People's Republic of China (including islands like Hainan or Chongming), excluding dependent territories of the PRC, and other territories within Greater Chin ...
. The scope of such RMB business includes deposit-taking, exchange, remittances and RMB cards. Hong Kong banks were invited to apply to become the designated clearing bank for RMB business; the People's Bank of China subsequently chose BOCHK as the clearing bank, for a term of three years.
According to the Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) is Hong Kong's central banking institution. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged. The organisatio ...
, the major responsibilities of the clearing bank are to:
* open RMB settlement accounts for participating banks for the acceptance and withdrawal of RMB funds
* open a settlement account with the PBOC's Shenzhen
Shenzhen (; ; ; ), also historically known as Sham Chun, is a major Sub-provincial division, sub-provincial city and one of the Special economic zones of China, special economic zones of China. The city is located on the east bank of the Pea ...
sub-branch to centralise the acceptance and withdrawal of RMB funds of the Clearing Bank and the participating banks
* collect and distribute RMB banknotes
* provide clearing services for RMB remittances and RMB cards issued by Hong Kong banks
* provide services for the participating banks to square their RMB open positions that result from the exchange of RMB into Hong Kong dollars and vice versa.
Nanyang Commercial Bank
Founded in 1950 in Hong Kong, Nanyang Commercial Bank is a wholly owned subsidiary of BOCHK, with 42 branches. Nanyang primarily focuses on corporate customers, in particular small and medium-sized trading and manufacturing companies. It also has a loyal following amongst the overseas Chinese community, especially in South East Asia
Southeast Asia, also spelled South East Asia and South-East Asia, and also known as Southeastern Asia, South-eastern Asia or SEA, is the geographical United Nations geoscheme for Asia#South-eastern Asia, south-eastern region of Asia, consistin ...
. It relies on BOCHK for back-end office and IT support. In 2007, it took over all of BOCHK's mainland operations, corporate and individual.
Chiyu Banking Corporation
Founded by Tan Kah Kee, an overseas Chinese in 1947, Chiyu Banking Corporation Limited has 23 branches in Hong Kong and focuses on serving the community of residents of Fujian
Fujian (; alternately romanized as Fukien or Hokkien) is a province on the southeastern coast of China. Fujian is bordered by Zhejiang to the north, Jiangxi to the west, Guangdong to the south, and the Taiwan Strait to the east. Its c ...
descent in Hong Kong.
Chiyu was explicitly created by Chen to create a sustainable business with profits to be devoted to education in Xiamen
Xiamen ( , ; ), also known as Amoy (, from Hokkien pronunciation ), is a sub-provincial city in southeastern Fujian, People's Republic of China, beside the Taiwan Strait. It is divided into six districts: Huli, Siming, Jimei, Tong' ...
and the rest of Fujian
Fujian (; alternately romanized as Fukien or Hokkien) is a province on the southeastern coast of China. Fujian is bordered by Zhejiang to the north, Jiangxi to the west, Guangdong to the south, and the Taiwan Strait to the east. Its c ...
province in China. Since its founding, it has spent more than HK$1 billion in education in the province, primarily through funding Jimei University and its related schools.
In 2017 BOC (HK) sold Chiyu Bank.
JETCO
JETCO () (Joint Electronic Teller Services Limited) is the biggest network of automatic teller machines
An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, f ...
in Hong Kong and Macau
Macau or Macao (; ; ; ), officially the Macao Special Administrative Region of the People's Republic of China (MSAR), is a city and special administrative region of China in the western Pearl River Delta by the South China Sea. With a pop ...
, with nearly 3,000 cash machines.JETCO Official Website Feb 12, 2018
/ref> JETCO was founded by BOCHK in 1982 along with the Bank of East Asia, Chekiang First Bank, Shanghai Commercial Bank and Wing Lung Bank, and at present covers all licensed commercial banks in Hong Kong and Macau, except for HSBC
HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 tri ...
and Hang Seng Bank
Hang Seng Bank Limited () is a Hong Kong-based banking and financial services company with headquarters in Central, Hong Kong. It is one of Hong Kong's leading public companies in terms of market capitalisation and is part of the HSBC Group ...
, which has their own system. JETCO's agreement with UnionPay has been terminated due to disagreements, leaving two choices for Hong Kong-based customers: get a UnionPay card, usable like any other on the mainland, or look for a Bank of East Asia ATM (Bank of East Asia has linked all of its mainland-based ATMs into the JETCO network) that can be used like any other JETCO ATM.
Other operations
BOCHK also owns a travel agency known as BOC Travel Services. This is a legacy from its acquisition of Nanyang Commercial Bank, which ran a travel agency for the convenience of its Southeast Asian customers.
Banknotes
Although not a central bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union,
and oversees their commercial banking system. In contrast to a commercial bank, a centra ...
, BOCHK issues banknotes in Hong Kong. Under present arrangements, most Hong Kong dollar notes are not issued by a central bank or monetary authority, but by three specially licensed commercial banks, these being the Bank of China, HSBC
HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 tri ...
and Standard Chartered Bank.
Bank of China started to issue Hong Kong dollar notes on 1 May 1994, under the name of ''"Bank of China Hong Kong Branch"''. Following the Bank's 2001 merger and restructuring, a new set of notes bearing the name ''"Bank of China (Hong Kong)"'' went into circulation in 2004. Under the ''Bank of China (Hong Kong) Limited (Merger) Ordinance'', banknotes issued by the Bank of China prior to its merger remained legal tender and became the obligations of Bank of China (Hong Kong).
As one of the three note-issuing banks, BOCHK is also a rotating chairman of the Hong Kong Association of Banks, the main industry body of commercial banks in Hong Kong.
Bank of China Tower
The Bank of China Tower in Central houses the headquarters of Bank of China Hong Kong. Designed by Ieoh Ming Pei, the 70-storey building's height is 315 metres with two masts reaching 369 metres. Construction began in 1985 and the building was completed in 1989, with its official opening on 17 May 1990.
Bank of China Tower was the first building outside North America to break the mark, the first composite space frame
In architecture and structural engineering, a space frame or space structure ( 3D truss) is a rigid, lightweight, truss-like structure constructed from interlocking struts in a geometric pattern. Space frames can be used to span large areas wit ...
high-rise building and was the tallest building in Hong Kong and Asia from 1989 to 1992. A small observation deck on the 43rd floor of the building is open to the public; visits to the main observation deck on the 70th floor is by appointment only.
The structural expressionism adopted in the design of this building resembles growing bamboo
Bamboos are a diverse group of evergreen perennial flowering plants making up the subfamily Bambusoideae of the grass family Poaceae. Giant bamboos are the largest members of the grass family. The origin of the word "bamboo" is uncertain, ...
shoots, symbolising livelihood and prosperity. While its distinctive look makes it one of Hong Kong's most identifiable landmarks today, it was the source of some controversy at one time, as the bank is the only major building in Hong Kong to have bypassed the convention of consulting with feng shui masters on matters of design prior to construction.
Corporate governance
One of the stated goals of the restructuring of BOCHK was to aggressively improve corporate governance
Corporate governance is defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context (such as accounting, finance, law, or management) often adopt narrow definitions ...
and risk management. Issues regarding BOCHK's corporate governance were widely reported in 2003 and 2004 following allegations of misconduct. Investigations are continuing . BOCHK subsequently reorganised and tightened internal controls, and made several executive appointments via a global replacement effort.
Liu Jinbao
A former CEO of BOCHK, Liu Jinbao
Liu Jinbao (simplified Chinese: 刘金宝) was the former CEO of Bank of China (Hong Kong) Limited and vice-chairman of Bank of China from 1998 to 2003.
Biography
Liu Jinbao graduated in 1976 from the University of International Business and Eco ...
, was abruptly transferred back to Beijing to become vice-chairman of Bank of China in May 2003. Investigations subsequently found Liu to have "committed economic crimes" in connection with his previous appointment as the head of the Shanghai branch of the Bank of China. Liu was subsequently dismissed from his post. Liu, along with three other senior managers, were also alleged to have made "unauthorised distribution for personal purposes" of funds belonging to the Bank of China before BOCHK was established. ''The Standard
The Standard may refer to:
Entertainment
* The Standard (band), an indie rock band from Portland, Oregon
* ''The Standard'' (novel), a 1934 novel by the Austrian writer Alexander Lernet-Holenia
* ''The Standard'' (Tommy Flanagan album), 1980
* ...
'' speculated that the amount involved was HK$30 million.
New Nongkai loan
A special committee appointed by BOC (Hong Kong) Holdings in consultation with the Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) is Hong Kong's central banking institution. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged. The organisatio ...
found that the granting of a HK$1.77 billion bridge loan to Chau Ching-ngai (sometimes referred to as ''Zhou Zhengyi'' depending on transliteration), involved ''risks identified at the start (that) were not addressed adequately'' and was granted despite ''serious reservations expressed by the Risk Management Department (BOCHK)''. Liu Jinbao
Liu Jinbao (simplified Chinese: 刘金宝) was the former CEO of Bank of China (Hong Kong) Limited and vice-chairman of Bank of China from 1998 to 2003.
Biography
Liu Jinbao graduated in 1976 from the University of International Business and Eco ...
was criticised by the committee and a deputy CEO, Or Man-ah, took early retirement as a result.
See also
* List of banks in Hong Kong
* Bank of China (Hong Kong) Bauhinia Bowl
* Macanese pataca
References
General
* Feng, Bangyan; (2002). ''A Century of Hong Kong Financial Development''. Joint Publishing Hong Kong. .
*
BOCHK 2003 Annual Report
'. March 2004.
*
'. August 2002.
Inline
Corporate governance
* Chung, O.
Liu probe began in 2000: magazine
'. ''The Standard
The Standard may refer to:
Entertainment
* The Standard (band), an indie rock band from Portland, Oregon
* ''The Standard'' (novel), a 1934 novel by the Austrian writer Alexander Lernet-Holenia
* ''The Standard'' (Tommy Flanagan album), 1980
* ...
''. 10 March 2004.
*
Suspect loans' at Shanghai firm
'. BBC News report, 10 June 2003. Retrieved 16 February 2005.
* Batchelor, M.
BOC Hong Kong hires 3 executives
' ''Bloomberg Bloomberg may refer to:
People
* Daniel J. Bloomberg (1905–1984), audio engineer
* Georgina Bloomberg (born 1983), professional equestrian
* Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and ...
'' via '' International Herald Tribune''. 4 January 2005.
Bank executives arrested over $30m fraud scandal
''The Standard
The Standard may refer to:
Entertainment
* The Standard (band), an indie rock band from Portland, Oregon
* ''The Standard'' (novel), a 1934 novel by the Austrian writer Alexander Lernet-Holenia
* ''The Standard'' (Tommy Flanagan album), 1980
* ...
''. 20 August 2004.
* Xinhua News Agency
Xinhua News Agency (English pronunciation: )J. C. Wells: Longman Pronunciation Dictionary, 3rd ed., for both British and American English, or New China News Agency, is the official state news agency of the People's Republic of China. Xinhua ...
,
Investigation not affecting BOCHK operating results: statement
'. Via People's Daily. 6 August 2004.
*
Suspension from duty of Messrs Zhu Chi and Ding Yansheng, Deputy Chief Executives of the Company
'. BOCHK announcement and press release, 2 August 2004.
*
Investigation of Liu Jinbao and Zhang Debao
'. BOCHK announcement and press release, 5 August 2004.
* Ling, H.
'. Caijing, 5 March 2004.
*
BOC vice-chairman sacked for suspected corruption
'. '' People's Daily''. 20 February 2004.
Renminbi business
* Hong Kong Monetary Authority press release,
Hong Kong banks to conduct personal renminbi business on trial basis
'. 18 November 2003.
* Hong Kong Monetary Authority,
'.
* Hong Kong Monetary Authority press release,
'. 24 December 2003.
* Xinhua News Agency,
'. Via ''China Daily
''China Daily'' () is an English-language daily newspaper owned by the Central Propaganda Department of the Chinese Communist Party.
Overview
''China Daily'' has the widest print circulation of any English-language newspaper in China. ...
'', 18 November 2003.
External links
*
*
Reuters Quote
Bloomberg Quote
for BOC Hong Kong (Holdings) Limited.
{{Authority control
Banks of Hong Kong
Bank of China
Banknote issuers of Hong Kong
Banks established in 2001
2001 establishments in Hong Kong
Companies listed on the Hong Kong Stock Exchange