The levels are the same, there is no question of who is higher than who.

They are all one of the four largest state-owned commercial banks in China.

It's just that the focus of their services is different. It can be said that each has its own merits and characteristics.

Bank of China, the full name of Bank of China Co., Ltd., is one of the four largest state-owned commercial banks in China.

The Bank of China was established with the approval of President Sun Yat-sen on January 24, 1912.

It was officially opened on February 5, 1912.

The predecessor of Bank of China was the Hubu Bank established by the Qing government in 1905.

It was renamed the Bank of the Qing Dynasty in 1908 and was responsible for organizing the currency system, minting coins, issuing banknotes, organizing the treasury, exercising the powers of the central bank, and increasing shares and attracting investment.

This was the Qing government's attempt to "integrate with international standards."

After the establishment of the Bank of China, it continued to serve as the central bank. In 1928, the National Government established a separate central bank and chartered the Bank of China as an international exchange bank.

Bank of China has followed the path of internationalization from the beginning and has successively established overseas branches in Hong Kong, Macau, London, Osaka, Singapore, New York and other places.

The Bank of China in old China was a joint-stock bank jointly run by the government and businessmen. In its early days, the Bank of China did a lot of work in restricting the expenditures of the Beiyang Military Government, resisting Yuan Shikai's currency suspension order, supporting the development of the national economy, and organizing patriotic overseas Chinese to support the domestic Anti-Japanese War.

After 1935, the actual control of the Bank of China has fallen to the four major families, and it has become a tool for bureaucratic capitalism to amass wealth. It is a stain on the history of the Bank of China.

In 1949, the Military Control Commission of the Chinese People's Liberation Army took over the Bank of China. In January 1950, Premier Zhou Enlai issued a protection order to my country's institutions in Hong Kong and waited for the order to take over.

In response to Premier Zhou's call, the Hong Kong Branch of the Bank of China took the lead in the uprising and announced that it would accept the leadership of the General Management Office in Beijing. Soon, branches in London, Singapore, Jakarta, Kuala Lumpur, Karachi, Mumbai, Kolkata, Yangon and other branches announced that they would accept the leadership of the General Management Office in China.

The leadership of the Communist Party of China preserved a large number of overseas assets for New China.

Since then, the Bank of China has become an important part of the new China's financial system.

In April 1950, the General Management Office of the Bank of China was placed under the leadership of the Head Office of the People's Bank of China.

On October 27, 1953, the Government Affairs Council of the Central People's Government promulgated the "Regulations of the Bank of China", clarifying that Bank of China is a specialized foreign exchange bank chartered by the Government Affairs Council of the Central People's Government of the People's Republic of China.

During the period of socialist revolution and construction, the Bank of China, as a functional department under the leadership of the People's Bank of China, used credit, settlement, exchange rate and other means to promote the development of foreign trade, increasing my country's foreign exchange earnings; it actively participated in the struggle against freezing U.S. dollar assets , resist the economic blockade imposed by the U.S. government on our country; support the transportation department to gradually establish an ocean-going fleet, and support enterprises to increase production and quality by importing equipment and materials; conscientiously perform the duties of the national foreign exchange professional bank, strengthen foreign exchange management development and international finance world contacts.

With the approval of the State Council on March 13, 1979, the Bank of China was separated from the People's Bank of China and simultaneously exercised the functions of the State Administration of Foreign Exchange, directly under the leadership of the State Council.

The Bank of China and the State Administration of Foreign Exchange have two external brands and a set of internal institutions, managed by the People's Bank of China.

The General Management Office of the Bank of China was changed to the Head Office of the Bank of China, which is responsible for the unified operation and centralized management of the national foreign exchange business.

In September 1983, the State Council decided that the People's Bank of China would exclusively perform the functions of the central bank. Subsequently, the Bank of China and the State Administration of Foreign Exchange were separated and each performed its own duties. The Bank of China's unified responsibility for the country's foreign exchange remained unchanged.

At this point, Bank of China has become a national foreign exchange and foreign trade specialized bank under the supervision of the People's Bank of China.

At this time, the identity of the Bank of China underwent a fundamental change, from a branch of the People's Bank of China and a national financial management agency to a profit-oriented enterprise.

Since the reform and opening up, various businesses of Bank of China have made great progress, and it has entered the forefront of the world's major banks.

With the further deepening of financial system reform, the state has relaxed its control over the business areas of various banks.

According to the deployment of the national financial system reform, the foreign exchange management system was reformed in 1994. The national foreign exchange was operated by the Administration of Foreign Exchange, and the Bank of China began to transform from a specialized foreign exchange and foreign trade bank to a state-owned commercial bank.

All foreign exchange banks enjoy equal status in foreign exchange operations, which breaks the monopoly of Bank of China in foreign exchange business. This also marks the official end of the Bank of China's historical mission as a national foreign exchange management agency and the completion of its transformation into a comprehensive commercial bank.

transformation.

In the 10 years from 1994 to 2004, Bank of China relied on its long history, extensive overseas network, outstanding strength and advantages in international finance and foreign exchange business to make Bank of China the most internationalized bank in China. Its total profit was the largest among domestic banks.

has always been at the top of the list.

Many authoritative international financial magazines agree that Bank of China has the smallest number of employees among China's state-owned commercial banks and the strongest profitability and risk resistance. Its per capita profit, per capita capital and per capita assets all rank among China's state-owned commercial banks.

head.