|
||||||||
|
|||||||||||||||||||||||
 |
|
BOCOM as the Forum Main Sponsor 2007
Bank of Communications (BOCOM) and the forum organizing committee have reached common ground on BBOC’s being the main sponsor to the 2007 “Summit of the Forum on China-US Automotive Supply Chain”.
As an important partner of the forum, BBOC indicated that with a strong trend of “global sourcing”, international financing had become a key force serving the automotive global supply chain, so to promote the cooperation and development between China and US auto industries, Chinese banks should make active contribution and a closer collaboration between two parties will also provide them opportunities to better expand their business in this field.
Brief Introduction of BOCOM:
Incorporated in 1908, BOCOM was one of China’s earliest four major banks and one of its only two commercial banks with a century of business legacy. In 1986, BOCOM underwent restructuring to become China’s first and until now, its largest share-holding commercial bank. Concurrently, it became the first commercial bank, after Bank of China, to be eligible for operating a business service in local and foreign currencies.
Over the years, BOCOM has attained a number of outstanding achievements in the international banking business arena:
Large number of outlets: Located across 92 cities in China, BOCOM branches offer an international banking service. A total of 2,069 BOCOM outlets are capable of discharging international banking functions. BOCOM has also set up 5 branch offices in financial centres overseas, including Hong Kong, New York, Tokyo and Singapore and Seoul, with 2 representative offices established in London and Frankfurt respectively.
Extensive scale of operation: As of the end of June 2004, BOCOM controlled foreign-exchange assets of a total worth of USD26 billion and foreign-exchange deposits exceeding USD 15.2 billion in total value, both domestically and overseas.
Comprehensive network coverage: Apart from having established a banking network in the economically prosperous regions of China, BOCOM has also fostered correspondent bank relations with 1,706 banks from 103 countries, with a mammoth business coverage throughout the world. In addition, it has opened 14 settlement accounts in major global currencies with 66 account banks in 19 countries, providing rapid exchange and settlement services in the process.
Sterling reputation: As of the end of 2003, BOCOM was placed 101 in a ranking of 1000 large commercial banks around the world. Twice cited by overseas credit-rating agencies as "the best bank of China", BOCOM commands an excellent international reputation among its industry peers abroad.
Excellent system: BOCOM is the first in China to establish a local and foreign currency exchange system that links a banking headquarters and its branch offices. BOCOM has also developed an advanced international settlement and handling system, a foreign-currency transaction system and a forex fund transaction system. Technically speaking, BOCOM provides a highly organized and efficient system of operations.
High-caliber team: Over the years, BOCOM has built up a professional team with global operational expertise to offer customers a high-quality and systematic range of international banking services.
|
 |
 |
