BANK OF CHINA (English name: Bank of China) is a large state-owned bank managed by the central government and a national vice-ministerial unit. It was established with the approval of Dr. Sun Yat-sen on February 5, 2002.
China's banking business includes commercial banking, investment, securities, funds and aircraft leasing. It has been listed in China, Hongkong Stock Exchange and Shanghai Stock Exchange.
China Bank is mainly engaged in commercial banking business, including corporate finance business, personal finance business and financial market business.
Corporate finance business
China's banking business is the main source of profits. It provides personalized and innovative financial services to customers based on the core credit products of banks. In 2007, corporate finance continued to focus on improving customer service system, promoting overall business linkage, strengthening product innovation and implementing management transformation, setting up corporate finance sector and strengthening line management. China Bank implements the development strategy of serving key large-scale and high-quality corporate customers, pays attention to long-term cooperative relations with large-scale and high-quality customers, and at the same time makes clear that SME business is an important part of corporate financial business, and strives to become an efficient, professional and comprehensive partner of SMEs.
Personal financial business
China Bank mainly provides services including savings deposit, consumer credit and bank card for the financial needs of individual customers.
Deposit business
China Bank actively responded to the impact of the rapid development of the capital market on the deposit business of RMB companies and vigorously developed the deposit business of RMB companies.
Loan business/transaction
China Bank continued to strengthen the adjustment of loan structure, increased investment in key supporting industries, and realized the optimal allocation of credit resources.
Business of financial institutions
China Bank pays attention to all-round cooperation with financial institutions, and provides customers with more comprehensive services through mutual recommendation, resource sharing and joint development of new products. The Bank of China also conducts the clearing of dollars, euros and yen through its branches in new york, Frankfurt and Tokyo. The above-mentioned branches and Singapore branch are local tier-one clearing banks.
International settlement and trade financing business
China Bank's dominant business, China Bank strengthened the linkage between domestic and foreign institutions, and realized the rapid development of international settlement and trade financing business.
Financial business of other companies
China Bank provides payment and settlement services, mainly including bank draft, promissory note, cheque, remittance, bank acceptance draft, entrusted collection, collection and acceptance, centralized payment, cheque deposit and bill custody.
Capital business
China Bank mainly includes capital operation and management services such as local and foreign currency hedging, fund management, debt hedging, domestic and overseas financing, etc.
Business of financial institutions
China Bank provides comprehensive services such as fund settlement, interbank lending and custody for other banks, securities companies and insurance companies around the world. As a century-old brand of China's financial industry, China Bank, while paying attention to steady operation, has been proactive and innovative, creating a number of firsts in the domestic banking industry, and has been widely recognized and praised by the industry and customers in the fields of international settlement, foreign exchange funds and trade financing.
Capital and international business
As a traditional professional foreign exchange and foreign trade bank, China Bank has unique advantages and rich professional experience in foreign exchange business and international settlement business, and provides customers with high-quality international settlement services, foreign exchange preservation, appreciation, investment and wealth management and services aimed at avoiding exchange rate risks by using a perfect international trading network system. Including capital business: foreign exchange transactions, foreign exchange financial derivatives, RMB capital transactions; Investment and financial management: Huijubao, Bond Bao, Foreign Exchange Bao, Option Bao, Liangdebao, Huang Jinbao, Spring, Summer, Autumn and Winter, foreign exchange financing and international settlement.
Bill pool business
Bank of China launched bill pool business on corporate online banking, which can help customers manage bills centrally. By establishing a company bill pool, the bills held will be put into the pool for safekeeping, which is convenient for daily bill management. Bank of China provides services such as distinguishing the authenticity of bills, reminding bills of maturity, and entrusted collection of bills of maturity. Banks also provide bill custody services, which can outsource the physical custody of bills to banks, eliminating the worries of keeping bills. [7]
Bill pool business provides a new solution to the problems of small amount, large quantity, too scattered and difficult endorsement received by enterprises. Small scattered bills can be pledged into the pool, forming a bill pool pledge guarantee amount, and using the bill pool pledge guarantee amount to issue bank acceptance bills or letters of credit for them, which is convenient for enterprises to pay externally. [8]
Once the bill pool business was launched at the beginning of the year, it was recognized by many customers such as steel, automobile, petrochemical, power materials and so on. These enterprises have a large amount of daily bill settlement. Using the bank of China's online banking bill pool function, the problems of bill management and bill financing are well solved, the upstream and downstream customers are stabilized, and a new tool is provided for enterprise financial management.