In China, when it comes to banks, the four state-owned banks which are directly controlled by the state: Industrial and Commercial Bank of China, Agricultural Bank of China, and Bank of China, China Construction Bank, also known as the four central banks, which represents China's strongest financial capital power.

    After the founding of the People’s Republic of China, in the planned economic operation for a certain period of time, the four state-owned banks gave full play to their respective advantages to help finance the country’s construction and development, and established a well-deserved financial leverage. At the same time, it has also established a solid foundation in the hearts of the Chinese people. A solid and trustworthy brand image of large state-owned banks.

    On the ranking of “The First Daguan·Keweiwei World Brand Value Top 900" released on March 14, 2021, Bank of China's brand value was 244.505 billion RMB, ranking the 130th.

    Opening the official website of Bank of China, we are all touched by the fact that it always put the interests of consumers as its top priority. "Popularize financial knowledge to protect your rights". Here we can browse various consumer rights protections and how to prevent financial frauds. Especially from the 2021 "March 15" Consumer Rights Protection Education Series: Eight Financial Consumers' Rights and Interests, we feel first-hand the considerate financial respect from Bank of China and the meticulous reminder and care for consumer customers.

    Bank of China uses its professional and practical experience to interpret the strength and ability of China's financial industry to build a world-class modern banking group. Bank of China is the most globalized and integrated bank in China. It has branches in 61 countries and regions in Mainland China and overseas. Bank of China Hong Kong and Macau branches serve as local note-issuing banks. Bank of China has a relatively complete global service network, and has formed corporate finance, personal finance and financial markets as the main body of commercial banking services, covering investment banking, direct investment, securities, insurance, funds, aircraft leasing, asset management, financial technology, and finance A comprehensive service platform in various fields, such as leasing, provides customers with comprehensive financial services.

    Looking through the development of the Bank of China, I am amazed at the great achievements of the Bank of China in the historical tenacity, the great achievements accumulated in the difficult difficulties, and the pioneering and innovative in its continuous development. It has established an indelible value position for today's internationalized Chinese financial brand's influence in the world. The brand power that inspires the development of the Chinese people today.

    The banking function, which has been inherited for nearly 120 years, has complemented the development of the world's financial industry in the change of dynasties and the alternation of rights in the old and new eras, and carried the professional financial experience of the Bank of China. Bank of China has been the first national bank in China's history. It is one of the oldest banks in China, and it is also a continuous operation in China.

    Originated in August 1905, as early as February 1908, it performed the functions of the central bank. In 1911, it became the largest bank in the late Qing Dynasty.

        From 1912 to 1928, the Bank of China performed the functions of the central bank, acting as an agent for the national treasury, receiving public funds, and issuing banknotes. During the 16 years of exercising the functions of the central bank, the Bank of China has gone through an unusual course of progress and achieved development through twists and turns. Fighting against internal and external pressures, putting strict adherence to bank credit above all else, reducing the impact of frequent political turmoil on the Bank of China, and providing guarantee for the Bank's subsequent rapid development. By the end of 1928, it became the largest, strongest, and best-reputed bank in China at that time, laying a solid foundation for the modernization and internationalization of the Bank of China.

    As early as 1928-1942, the Bank of China, as a government-licensed international exchange bank, experienced in the international financial stage, actively learned from advanced international experience to reform management mechanisms, and took the lead in the Chinese financial sector to enter the international market, successively in London, Singapore, and New York. Wait for the establishment of branches in the International Financial Center.

    Speaking of the financial credit investigation that people are familiar with today, as early as March 1932, it was initiated by the Bank of China and founded the Chinese own "China Xingxin Agency", which is the founding of China's credit investigation industry.

     At the same time, Bank of China is also a pioneer in the insurance industry. The China Insurance Company invested and established by Bank of China in 1931 is the predecessor of the current China Insurance (Holdings) Co., Ltd.

    From 1942 to 1949, Bank of China, as a professional bank for international trade, was responsible for the collection and payment of government foreign funds, the development of foreign trade, and the handling of related loans and investments.

    After 1949, Bank of China, as a national foreign exchange professional bank for a long time, has strengthened the control and suppression of China’s international financial development by unfavorable international factors, brought into play its unique value advantages, unified management of national foreign exchange, and carried out international operations. Trade settlement, remittance and other non-trade foreign exchange business. Bank of China's foreign exchange expertise has been strengthened, the foreign exchange business has achieved further development, and it has vigorously supported the development of foreign trade and economic construction.

    Since the reform and opening up, Bank of China has firmly seized the historical opportunity of the country's use of foreign funds and advanced technology to accelerate economic construction, and gave full play to its unique advantages in long-term foreign exchange business. In 1978, it complied with the need and created a precedent for credit cards in China.

    From 1979 to 1980, Bank of China used its strengths to carry out system reforms, and the State Administration of Foreign Exchange was established. Bank of China is a specialized foreign exchange bank designated by the state, responsible for the unified operation and centralized management of foreign exchange business across the country.

    From April 1, 1980, the State Council authorized Bank of China to issue foreign exchange certificates.

    Increase the use of foreign capital and issue international bonds. From 1984 to 1992, Bank of China issued 17 international bonds in Tokyo, Frankfurt, London, and Singapore. According to international arrangements, the Bank of China raised long-term funds in the international bond market. Mainly loans are made to domestic petrochemical, steel, non-ferrous metals, ocean shipping and other departments, and financial support is also given to the construction of cities such as Shanghai, Tianjin, Qingdao, Xiamen, and Wuhan. The issuance of international bonds has played a positive role in promoting the country’s economic construction.

    From 1979 to 1980, Bank of China actively participated in the promotion of the restoration of legal seats in international financial organizations, and supported domestic economic and cultural construction.

    In 1971, the 26th United Nations General Assembly restored China's legal seat in the United Nations. On April 17, 1980, the International Monetary Fund announced a resolution to restore China's legal seat in the International Monetary Fund.

    On May 15, 1980, the World Bank’s Executive Board formally restored China’s representation in the World Bank.

    Grasp market opportunities and steadily expand the influence of international brands. In the new era, Bank of China, as a large state-controlled commercial bank, assumes the lofty mission of "integrating the world and benefiting society", and practicing "excellent service, stable creation, openness and inclusiveness, and collaboration." "Winning" values, stimulating vitality, quick response, key breakthroughs, striving to build a world-class modern banking group, to realize the Chinese dream of the great rejuvenation of the Chinese nation, realize the people's yearning for a better life, and make new and greater contributions to build a community with a shared future for mankind.

    In 1994, Bank of China was reorganized as a wholly state-owned commercial bank, providing all kinds of financial services, and developed into a large-scale commercial bank with both domestic and foreign currencies, complete business varieties, and strong strength.

    In 2006, it was the first to successfully list on the Hong Kong Stock Exchange and the Shanghai Stock Exchange, becoming the first "A+H" listed bank in China.

    Bank of China is the sole official banking partner of the 2008 Beijing Summer Olympics and the 2022 Beijing Winter Olympics, and the only "Double Olympics Bank" in China. In 2011, Bank of China was selected as the first among emerging economies and was selected as a global systemically important bank for 10 consecutive years. Its international status, competitiveness, and comprehensive strength have ranked among the top global banks.

    Beginning in 2021, with the launch of the "14th Five-Year Plan", Bank of China will keep pace with the country's development, embark on a new stage of its own reform and development, and fully embark on a new journey of building a world-class modern banking group.

    A far-sighted, international development strategy that keeps pace with the times. Bank of China implements the new development concept and serves the new development pattern; takes reform and innovation as the fundamental driving force to meet the people’s ever-increasing needs for a better life as the fundamental goal, adheres to the general keynote of seeking progress while maintaining stability, deepens the structural reform of the financial supply side, and accelerates comprehensive digital transformation, promote high-quality sustainable development, and promote high-level opening up; take on the responsibility and mission of a large state-owned bank, focus on serving the real economy, and continue to focus on the development of technology finance, inclusive finance, green finance, wealth finance, cross-border finance, consumer finance, county finance; establish a firm awareness of risk, adhere to prudent and compliance management; adhere to the system concept, accelerate the construction of a strategic development pattern with domestic commercial banks as the main body and globalization and integration as the two wings; stimulate vitality, agile responses, and key breakthroughs. Strive to build a world-class modern banking group!

     Securities Information Comment on June 4, 2021: Bank of China's profitability (601988) has rebounded, the mid-term income has increased year-on-year, and non-performing products have achieved a double decline. It is estimated that the net profit of Bank of China attributable to the parent company will increase by 7.6% / 7.03% / 7.22% year-on-year from 2021-2023. The recovery for the first time for 18 years was attributed to the steady improvement in profit growth and the increase in equity multiplier.

    Bank of China is a bank with a lofty sense of mission and responsibility. Throughout more than 100 years of development, Bank of China has always been adhering to the spirit of pursuing excellence, working for the welfare of the society, seeking prosperity for the country, taking patriotism and loving the people as the soul of the business, the supremacy of integrity as the foundation of the company, and reform and innovation as the force of enforcement. Always taking people-oriented concept as the foundation of the bank, has established an excellent brand image, and has been widely recognized and praised by the industry and customers.

作者：Song Jinhong