Bank of China Limited

China
Asia Pacific

http://www.boc.cn/

Industry:Banking
Date joined:13 August, 2021
Initiatives:Principles for Responsible Banking

Brief Overview of Organisation

Bank of China is the Bank with the longest continuous operation among Chinese banks. The Bank was formally established in February 1912 following the approval of Dr. Sun Yatsen. From 1912 to 1949, the Bank served consecutively as the country’s central bank, international exchange bank and specialised international trade bank. In August 2004, Bank of China Limited was incorporated. The Bank was listed on The Stock Exchange of Hong Kong Limited and the Shanghai Stock Exchange in June and July 2006 respectively, becoming the first Chinese commercial bank to launch an A-Share and H-Share initial public offering and achieve a dual listing in both markets. In 2020, Bank of China was again designated as a Global Systemically Important Bank.

BOC is the most globalised and integrated bank in China. As of the end of 2020, it had a well-established global service network with institutions set up across the Chinese mainland as well as in 61 countries and regions. It has established an integrated service platform based on the pillars of its corporate banking, personal banking, financial markets and other commercial banking business, which covers investment banking, direct investment, securities, insurance, funds, leasing, asset management, financial technology and other areas, thus providing its customers with a comprehensive range of financial services. In addition, BOCHK and the Macau Branch serve as local note-issuing banks in their respective markets.

Summary of Sustainability Strategy

BOC actively implemented the green development strategy, promoted the innovation of green financial services, and continued to increase its support for green industries, so as to provide financial impetus for the transformation of economic development mode, improvement of economic structure and development of green economy. BOC established and continued to improve its green finance management framework, policy systems and working procedures, and comprehensively developed its business of green credit, green bond, climate investment and financing, green deposit, green insurance, green leasing and so on, thus forming a multi-tiered and dimensional green financial business system. BOC actively participated in international exchanges and cooperation, continued to make in-depth explorations and breakthroughs in the frontier field of green finance; integrated low carbon and environmental protection requirements into daily operation; promoted global research collaboration with peers and actively conveyed the concept of green life to the outside world.