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SOME MORE CHEQUES OF BANK OF CHINA

MUSHAM BANKNOTES ANCIENTCOINS,STAMPS,POSTALHISTORY MY @ MUSHAM3@GMAIL.COM

Bank of China (BOC) had proud and long history and played an important role in China's financial history. It was established in 1912 pursuant to the approval of Mr. Sun Yatsen. In the following 37 years until the founding of the People's Republic of China in 1949, the Bank served as the central bank, international exchange bank and specialized foreign trade bank successively.

As the pillar of the country's financial industry, Bank of China was committed to serving the public and developing the domestic financial sector. During these volatile years, the Bank strived to expand its presence in the market by prudent operation and aggressive reform, leading the market in many areas of its operations for a long period. Having branched out into overseas market, the Bank opened a brilliant chapter in China's modern and contemporary banking history.

In 1949, Bank of China became the state-designated specialized foreign exchange bank and substantially contributed to development of foreign trade and the national economy.

bank of china CHEQUES OF CALCUTTA BRANCH

MUSHAM BANKNOTES ANCIENTCOINS,STAMPS,POSTALHISTORY MY @ MUSHAM3@GMAIL.COM

Bank of China，or Bank of China Limited in full, is one of China’s four state-owned commercial banks. Its businesses cover commercial banking, investment banking and insurance. Members of the group include BOC Hong Kong, BOC International, BOCG Insurance and other financial institutions. The Bank provides a comprehensive range of high-quality financial services to individual and corporate customers as well as financial institutions worldwide. In terms of tier one capital, it ranked 18th among the world’s top 1,000 banks by The Banker magazine in 2005.

The Bank is mainly engaged in commercial banking, including corporate and retail banking, treasury business and financial institutions banking. Corporate banking is built upon credit products, to provide customers with personalized and innovative financial services as well as financing and financial solutions. Retail banking serves the financial needs of the Bank’s individual customers, focusing on providing them with such services as savings deposit, consumer credit bankcard and wealth management business. Treasury business includes domestic and foreign-currency trading and investment, fund management, wealth management, value-secured debt business, domestic and overseas financing and other fund operation and management services. Financial institution banking refers to services offered to banks, securities brokerages, fund companies and insurance companies worldwide ranging from clearing, inter-bank lending to agent and custodian services. As a Chinese financial institution with a history of almost a hundred years, the Bank is well known for its continuous business innovations, introducing many brand new products and services in the domestic banking industry, while paying regard to the need for prudence in its operations. It is widely recognized and commended by its peers and customers in international settlement, foreign exchange, trade finance, etc.

Over the past century, Bank of China played an important role in China’s financial history. It was established in 1912 pursuant to the approval of Mr. Sun Yatsen. In the following 37 years until the founding of the People’s Republic of China in 1949, the Bank served as the central bank, international exchange bank and specialized foreign trade bank successively. As the pillar of the country’s financial industry, Bank of China was committed to serving the public and developing the domestic financial sector. During these volatile years, the Bank strived to expand its presence in the market by prudent operation and aggressive reform, leading the market in many areas of its operations for a long period. Having branched out into overseas market, the Bank opened a brilliant chapter in China’s modern and contemporary banking history.

In 1949, Bank of China became the state-designated specialized foreign exchange bank and substantially contributed to development of foreign trade and the national economy. In 1994 and following the entrenchment of the reform of the financial sector, Bank of China was converted into a wholly state-owned commercial bank. Together with the other three wholly state-owned commercial banks, it constituted pillars of the country’s financial industry.

In 2003, it was named by the State Council as one of the pilot banks for joint-stock reform of wholly state-owned commercial banks. In order to develop itself into an internationally competitive modern joint-stock commercial bank with abundant capital, strict internal control, secure operations, and sound service and performance, Bank of China further improved corporate governance mechanism, strengthened risk management and internal control, integrated management processes and business processes, promoted human resource management reform, accelerated product and service innovation, and steadily pushed ahead joint-stock reform. On August 26, 2004, Bank of China Limited was formally incorporated in Beijing as a state-controlled joint stock commercial bank, turning a new chapter in its history and signaling a huge step forward in becoming a modern joint stock commercial bank with good corporate governance practices.

Bank of China is the most internationalized commercial bank in China. BOC London Branch, the first overseas branch of the Chinese banks, was established in 1929. From then on, the Bank successively opened branches in global financial centers, and has built up its network in 27 countries and regions. Currently, it had over 10000 domestic operations and over 600 overseas operations. In 1994 and 1995, Bank of China became the note issuing bank in Hong Kong and Macao respectively. It was the first among Chinese banks to recruit international experts and to introduce modern business management concepts into its operations with a view to become a premiere international bank.

On July 14, 2004, Bank of China became the sole banking partner of Beijing 2008 Olympic Games. The Bank will offer efficient and quality financial services to domestic and foreign customers. It will promote the Olympic spirits and contribute to the success of this magnificent sports event, thereby improving its corporate image and its value to the community.

Bank of China has received wide recognition from its peers, customers and authoritative media for the credit and performance it achieved in past years. It has been awarded “Best Bank in China” and “Best Domestic Bank in China” by Euromoney for eight times; it has been included in the Fortune Global 500 for 16 consecutive years; in addition, it was awarded “Best Domestic Bank in China” by The Asset, awarded “Best Trade Finance Bank in China” and “Best Foreign Exchange Bank in China” by Global Finance, and awarded “the Top 10 Product Service Enterprises in China” by Far Eastern Economic Review; since BOC Hong Kong was restructured and listed in the Hong Kong stock market, it has been the winner of many significant awards, including “Best IPO Investor Relation Award” issued by the Investor Relations Magazine and “ Best Transactions” and “Best Privatization Award” issued by Asian Finance.

In the past century, Bank of China was deeply relied on by customers thanks to its sound operation, strong capacity, advanced products and rich experience. It has built up a splendid brand and established a long-term stable cooperative relationship with its customers. Being customer-centered and market-oriented, Bank of China will improve corporate governance in pursuit of sound benefits, and develop into a leading international bank. Depending on strong capacity, worldwide network, advanced products and rich experience, it is dedicated to offering customers with a full range of high-quality banking services.

BANK OF CHINA OPENED ITS BRANCH IN CALCUTTA CLOSED IN 1941

MUSHAM BANKNOTES ANCIENTCOINS,STAMPS,POSTALHISTORY MY @ MUSHAM3@GMAIL.COM
Company History:

Bank of China (BOC) is that country's oldest bank, and also one of its four largest banks, with assets of more than $433 billion--which also places it in the top 20 banks worldwide. BOC's function as the country's foreign exchange specialist for more than 40 years has made it the country's most international bank, with 580 branches and subsidiaries in 26 countries. At home, Bank of China is backed up by a network of more than 12,000 branch offices. Altogether, the bank employs nearly 193,000 people. Although BOC remains under Chinese government control, its subsidiary Bank of China (Hong Kong) Limited is the first Chinese-held bank to list on a foreign stock exchange. BOC offers a full range of traditional banking services, including commercial, private, and investment banking, foreign currency deposit and exchange services, as well as assets management and insurance services. BOC also holds note-issuing privileges in Hong Kong and Macau. Since the start of the 2000s, BOC has been undergoing a steady restructuring of its operations in order to shrug off the poor reputation of the Chinese banking industry in general as it prepares its own initial public offering (IPO). The bank's listing is slated for 2005 if it meets its restructuring targets--and the arrival of foreign banking competition after China's entry into the World Trade Organization.

Domestic Bank in the 1910s

Although China was the first civilization to introduce paper currency--in the 12th century--the country remained without a modern banking system until after the First Opium War in 1842. With China brought under colonial influence, the country opened up to foreign banks. In part by providing loans to the ruling Qing dynasty, the foreign banks quickly dominated China's economy.

Growing nationalist sentiment against the Qing government at the end of the century led to the first attempts to establish Chinese banks, beginning with the formation of the Imperial Bank of China in Shanghai in 1897. The Qing government responded by authorizing the creation of a new Chinese-owned bank in Beijing. The Bank of the Board of Revenue, as it was called, was created in 1905 and was jointly held by private citizens and the government. In 1908, the bank changed its name, to Da Qing Bank. At that time, the Qing government authorized the bank to issue money and oversee the treasury. Da Qing also coordinated the government's debts.

The Qing dynasty was overthrown during the republican revolution of 1911. The new provisional government, led by Sun Yatsen, authorized Da Qing Bank to change its name, to Bank of China. Now the Sun government's central bank, BOC became headquartered in Shanghai. In the meantime, the overthrow of the Qing dynasty and the Chinese monarchy led to the emergence of a large number of new domestic banks. These remained rather small, dwarfed by the more established foreign competitors.

BOC remained a central component of the Sun government through the troubled decades ahead. In 1928, BOC took on a new facet as the government's international exchange bank. This position was solidified with the opening of a branch office in London in 1929, marking the first time a Chinese bank had opened an office outside of China. BOC quickly extended its foreign network, and by the end of the 1940s had opened 34 branches outside of China, including a number of branches in Britain-dominated Hong Kong.

The arrival to power of the Communist government under Mao marked a new era for BOC as well. Foreign banks were forced to exit the country. At the same time, the domestic banking sector was brought entirely under government control and reformed into four primary bodies. BOC, which remained one of the country's four prominent banking operations, was then specialized as the government's foreign exchange bank, responsible for foreign trade and international banking operations.

BOC remained China's most public banking face as the country plunged into some three decades of political and economic isolation from the rest of the world. At the end of the 1970s, however, the Chinese government became determined to end its attempt at self-sufficiency, and instead initiated a thaw in its international relations--and a gradual relaxation of its economic policies.

BANK OF CHINA OPENED ITS BRANCH IN CALCUTTA IN 1937

MUSHAM BANKNOTES ANCIENTCOINS,STAMPS,POSTALHISTORY MY @ MUSHAM3@GMAIL.COM

BANK OF CHINA OPENED ITS BRANCH IN CALCUTTA IN 1937 CLOSED IN 1941 BUT ITS TRANSACTIONS WERE CONTINUED TILL 1950?

History of BOC's expansion outside (mainland) China
Tokyo branch.
New York branch.
Bank of China building in Singapore.

1917 BOC opened a branch in Hong Kong.
1929 BOC opened its first overseas branch in London. The branch managed the government's foreign debt, became a center

for the bank's management of its foreign exchange, and acted as an intermediary for China's international trade.
1931 BOC opened a branch in Osaka.
1936 BOC opened a branch in Singapore to handle remittances to China of overseas Chinese. It also opened an agency in New

York.
1937 At the outbreak of hostilities with Japan, Japanese forces blockaded China's major ports. BOC opened a number of

branches overseas to facilitate the gathering of remittances and the flow of military supplies. BOC opened branches in

Batavia, Penang, Kuala Lumpur, Haiphong, Hanoi, Rangoon, Bombay, and Calcutta. It also opened sub-agencies in Surabaya,

Medan, Dabo, Xiaobo, Batu Pahat, Baichilu, Mandalay, Lashio, Ipoh, and Seremban.
1941 and 1942 The Japanese conquest of South East Asia forced BOC to close all overseas its branches, agencies, sub-

branches and sub-agencies, except London, New York, Calcutta, and Bombay.
1942 BOC set up six new overseas branches, including those at Sydney, (Australia), Liverpool, and Havana, and possibly

Karachi.
1946 BOC reopened its branches and agencies in Hong Kong, Singapore, Haiphong, Rangoon, Kuala Lumpur, Penang, and

Jakarta. It moved the Hanoi agency to Saigon. At the suggestion of the Allied Forces Headquarters, it liquidated the branch

in Osaka and opened a sub-branch in Tokyo.
1947 BOC opened agencies in Bangkok, Chittagong, and Tokyo.
1950 Some of the branches of Bank of China joined the bank headquartered in Beijing — i.e., Hong Kong, Singapore,

London, Penang, Kuala Lumpur, Jakarta, Calcutta, Bombay, Chittagong, Karachi, and Jakarta — while others — New York, Tokyo,

Havana, Bangkok, and one other, possibly Panama — opted to remain with the Bank of China headquartered in Taipei. In 1971,

this bank took the name International Commercial Bank of China.
1963 The Burmese government nationalized all banks, foreign and domestic, including the Bank of China's Rangoon branch.

Bank of china bonds before civilwar in china

MUSHAM BANKNOTES ANCIENTCOINS,STAMPS,POSTALHISTORY MY @ MUSHAM3@GMAIL.COM

Republic of China along with the "Big Four" banks of the period: the Central Bank of China, Farmers Bank of China and Bank of Communications. Although it initially functioned as the Chinese central bank, in 1948 the People's Bank of China replaced it in that role. Subsequently, BOC became a purely commercial bank.

After the Chinese civil war ended in 1949, the Bank of China effectively split into two operations. Part of the bank relocated to Taiwan with the Kuomintang (KMT) government. It was privatised in 1971 to become the International Commercial Bank of China (中國國際商業銀行). It has subsequently merged with the Taiwan Bank of Communications (Chiao Tung Bank, 交通銀行) to become the Mega International Commercial Bank (兆豐國際商業銀行). The Mainland operation is the current entity known as the Bank of China.

It is the second largest lender in China overall, and the 5th largest bank in the world by market capitalization value[2]. Once 100% owned by the central government, via Central Huijin Investment and National Council for Social Security Fund (SSF), an IPO of its shares took place in June 2006, the free float is at present over 26%.

It is the most international of China's banks, with branches on every inhabited continent. Outside of mainland China, BOC also operates in 27 countries including:

Bank of china bond backside used in calcutta rare

MUSHAM BANKNOTES ANCIENTCOINS,STAMPS,POSTALHISTORY MY MUSHAM3@GMAIL.COM

the history of the 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. Within the country, the bank operates a network consisting of 12.000 branches and nearly 200.000 employees.

Although the BOC itself is subordinate to the control of the Chinese government, it’s Hong Kong subsidiary company „Bank of China (Hong Kong) Limited“acts as first Chinese bank that got listed on the foreign stock exchange. It strives for building up the BOC to a market-and consumer-oriented institution for banking services of world-class, and this shall be reached by means of a stable corporate structure, which shall able to secure excellent services for a long time to come

CHINA banking items used in china during BRITISH INDIA

MUSHAM BANKNOTES ANCIENTCOINS,STAMPS,POSTALHISTORY MY @ MUSHAM3@GMAIL.COM
CHINA banking items used in china during BRITISH INDIA
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