Economy

Banking Companies

Banking has become an extremely competitive business in China since the countries entry into the World Trade Organisation (WTO) and the development of a rapidly de-centralising market driven economy. This section will provide you with detailed company profiles for the largest banks in China. Including information on the history of the banks and future projects and goals.

Bank of China

'Bank of China'(BOC) is China’s oldest bank (founded in 1912) and one of the four largest banks of the country. By amounting assets of approximately $433 billion, it is also one of the Top 20 richest banks in the world. The BOC has gained wide reputation as being expert in foreign exchange dealing since 40 years and thus is seen as the most international bank of the country, having more than 580 branches and offices in 26 countries.

China Bank of Communications

The China Bank of Communications is ranked by Forbes as the seventh largest company in China when giving equal weighting to sales, profits, assets and estimated market value. At the end of the last fiscal year (2006-2007) the China Bank of Communications had sales of US$ 6.6 billion, profits of US$ 1.1 billion, assets valued at US$ 176.3 billion and an estimated market value of US$ 28 billion.

China Construction Bank

The China Construction Bank was founded in 1954 and has grown to become one of the ‘big four’ banks in China. The bank has 13,977 branches and sub-branches in 31 provinces, autonomous regions and municipalities in China as well as branches in Hong Kong, Singapore, Seoul, Tokyo, Frankfurt and Johannesburg, and representative offices in London and New York.