The six major domestic banks are Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Postal Savings Bank of China, and Bank of Communications.
1. Industrial and Commercial Bank of China was established on January 1, 1984. The head office is located at No. 55 Fuxingmennei Street, Beijing. It is a large state-owned bank managed by the central government and a national deputy ministerial level unit. The basic mission of ICBC is to raise social funds through domestic and foreign financing activities in accordance with national laws and regulations, strengthen credit fund management, support enterprise production and technological transformation, and serve my country's economic construction.
2. The Agricultural Bank of China was established in 1951. The head office is located at No. 69 Jianguomennei Street, Beijing. It is a large state-owned bank managed by the central government and a national deputy ministerial level unit. Agricultural Bank of China is an important part of China's financial system. It provides a variety of corporate banking and retail banking products and services, and also carries out financial market business and asset management business. Its business scope also covers investment banking, fund management, financial leasing, life insurance, etc. field.
3. Bank of China is the only bank in China that has been in continuous operation for more than a century. It is also the bank with the highest degree of internationalization and diversification in China. Its institutions cover mainland China and 61 countries and regions, and its subsidiaries include BOC International, BOC Investment, BOC Funds, BOC Insurance, BOC Aviation, BOC Consumer Finance, BOC Financial Commerce, BOC Hong Kong and other holding financial institutions. In 2017, Bank of China became the only "Double Austrian Bank" in China. In 2019, Bank of China was once again selected as a global systemically important bank, becoming the only financial institution among emerging market economies to be selected for nine consecutive years. In June 2021, "The Banker" announced the top 1000 global banks in 2021, with Bank of China ranked 4th.
4. China Construction Bank was formerly known as the People's Construction Bank of China, which was established on October 1, 1954 (later officially changed its name to China Construction Bank on March 26, 1996). The head office is located at No. 25 Financial Street, Beijing. It is a large state-owned bank managed by the central government and a national deputy ministerial level unit. China Construction Bank's main business areas include corporate banking, personal banking and treasury services. It has branches and subsidiaries in 29 countries and regions, and owns funds, leasing, trusts, life, property and casualty insurance, investment banking, futures, and pensions. subsidiaries in many industries.
5. The Postal Savings Bank of China can be traced back to the postal savings business launched in 1919, which has a history of more than 100 years. In March 2007, on the basis of reforming the original postal savings management system, Postal Savings Bank of China Co., Ltd. was officially established. In January 2012, the company was restructured into a joint stock limited company. In December 2015, ten domestic and foreign strategic investors were introduced. In September 2016, it was listed on the Hong Kong Stock Exchange. In December 2019, it was listed on the Shanghai Stock Exchange and successfully completed the three-step reform goal of "shareholding reform - leading to war - listing in A and H places".
6. Founded in 1908, Bank of Communications is one of the six largest banks in China. It is also one of the oldest banks in China and one of the note-issuing banks in modern China. On April 1, 1987, the reorganized Bank of Communications officially opened for business and became China's first national state-owned joint-stock commercial bank, with its head office in Shanghai. Bank of Communications was listed on the Hong Kong Stock Exchange in June 2005 and successfully listed on the Shanghai Stock Exchange in May 2007.