BOC Hong Kong (Holdings)

The predecessor of the Bank of China was founded in 1905, after the revolution of 1911, it received the modern name. He acted as a central bank , in particular, he issued a single Chinese currency (before that, money was printed by various banks and credit societies). In Hong Kong, at the time of the British colony, he opened a branch in 1917, in 1918, his example was followed by the Yien Yieh Commercial Bank, followed by other Chinese banks. In 1928 a new Central Bank of the Republic of China was formed, the Bank of China began to engage in currency exchange and other foreign trade activities.

By the time the People's Republic of China was founded in 1949, Hong Kong had 15 branches of Chinese state-owned banks and nine branches of private or mixed banks from mainland China. In addition, in 1949, the Chinese authorities founded the Po Sang Bank in Hong Kong, and in 1950 the Nanyang Commercial Bank. In 1952, Hong Kong branches of nine mixed public-private banks (Sin Hua Bank, China & South Sea Bank, Kincheng Banking Corp., China State Bank, National Commercial Bank, Yien Yieh Commercial Bank, Young Brothers Banking Corp., Wo Sang Bank and National Industrial Bank of China) were consolidated under the control of Bank of China. In 1954, following the parent banks, Hong Kong branches of banks Young Brothers Banking Corp, Wo Sang Bank and National Industrial Bank of China were closed, and the management of the remaining branches in 1958 was transferred to the regional branch of Bank of China in Hong Kong and Macau. Later, the Bank of China took over the management of the Hong Kong branches of three more banks - Kwangtung Provincial Bank, Hua Chiao Commercial Bank and Bank of Communications (the latter withdrew from the Bank of China Group in 1998).

In the 1970s, the Bank of China swallowed up the Hong Kong Chiyu Banking Corp., and in 1975, it significantly increased the share of state capital in all controlled mixed banks. In the 1980s, 14 subsidiary banks re-branded and became part of the Bank of China Group. In 1989, the construction of the 72-storey Hong Kong headquarters of Bank of China was completed ; until 1992, this building maintained the status of the tallest building in Goknong (now the fourth). In 1999, the Bank of China Group began restructuring its activities: all minority stakes in subsidiary banks (with the exception of Chiyu Banking Corp) were repurchased by Bank of China; all operations in China were merged under the authority of the Po Sang Bank, which was renamed Bank of China (Hong Kong) Limited, and Nanyang Commercial Bank and Chiyu Banking Corp. became its branches.

The merger of all controlled structures was completed in the fall of 2001, they were merged under the control of the holding company BOC Hong Kong (Holdings) Limited, more than 65% of whose shares were held by the state Bank of China. The remaining shares since 2002 are listed on the Hong Kong Stock Exchange .

In 2016, the stake was sold to Nanyang Commercial Bank, and in 2017 - to Chiyu Banking Corporation. At the same time, branches of Bank of China in Malaysia, Thailand, Indonesia, and Cambodia were included in the BOC Hong Kong, and in early 2018, branches in Vietnam and the Philippines ^[1] .

• Chen Xiqing (Chen Siqing, born in 1960) - Chairman of the Board of BOC Hong Kong (Holdings) Limited from August 30, 2017, member of the Board of Directors since 2011; in Bank of China since 1990, from 2014 to 2017 he was the president and vice chairman of Bank of China, and from August 2017 he became its chairman of the board ^[4] .
• Gao Yingxin - Chief Executive Officer since the beginning of 2018; in Bank of China since 1986 ^[1] .

BOC Hong Kong (Holdings) Limited main divisions: ^[1]

• Private Banking ( Personal Banking ) - banking services for individuals and small businesses; turnover in 2017 amounted to HK $ 17 billion, assets amounted to HK $ 358 billion;
• Corporate Banking - Banking services to large companies; turnover of HK $ 18 billion, assets of HK $ 869 billion;
• insurance ( Insurance ) - individual and group life insurance; turnover of HK $ 19.5 billion, assets of HK $ 131 billion;
• Treasury services ( Treasury ) - provides financing, regulates interest rates and currency exchange rates for the company; turnover of HK $ 11.6 billion, assets of HK $ 1.234 trillion.

In the structure of revenues, more than half accounted for interest income (HK $ 34.7 billion from HK $ 66.5 billion in 2017), service fees and commissions account for HK $ 11.5 billion, net insurance premiums - HK $ 14.7 billion ^{[1 ]} .

Over 90% of the company's revenue comes from operations in Hong Kong ^[1] .

The main shareholder of BOC Hong Kong (Holdings) Limited is Bank of China , which owns 66% of the shares through the wholly subordinate subsidiaries of BOC Hong Kong Group (Hong Kong) and BOC Hong Kong (BVI) Limited ( British Virgin Islands ). The main subsidiaries at the end of 2017 (place and year of registration, controlled stake and line of business): ^[1]

• Bank of China (Hong Kong) Limited (Hong Kong, 1964, 100%, banking)
• BOC Group Life Assurance Company Limited (Hong Kong, 1997, 51% (the remaining 49% from BOC Hong Kong Group), life insurance)
• BOCHK Asset Management (Cayman) Limited ( Cayman Islands , 2010, 100%, investment holding)
• BOC Insurance (International) Holdings Company Limited (Hong Kong, 2017, 100%, investment holding)
• BOC Credit Card (International) Limited (Hong Kong, 1980, 100%, credit card service)
• BOC Group Trustee Company Limited (Hong Kong, 1997, 66%, trust services)
• BOCI-Prudential Trustee Limited (Hong Kong, 1999, 42.24%, trust services)
• Bank of China (Malaysia) Berhad (Malaysia, 2000, 100%, banking)
• China Bridge (Malaysia) Sdn. Bhd. (Malaysia, 2009, 100%, applying for visas in the PRC)
• Bank of China (Thai) plc (Thailand, 2014, 100%, banking services)
• Bank of China (Hong Kong) Nominees Limited (Hong Kong, 1985, 100%, nominal company)
• Bank of China (Hong Kong) Trustees Limited (Hong Kong, 1987, 100%, trust services)
• BOCHK Financial Products (Cayman) Ltd. (Cayman Islands, 2006, 100%, issue of securities)
• BOCHK Information Technology (Shenzhen) Co., Ltd. (PRC, 1990, 100%, investment holding)
• BOCHK Information Technology Services (Shenzhen) Co., Ltd. (PRC, 1993, 100%, information services)
• Che Hsing (Nominees) Limited (Hong Kong, 1980, 100%, nominal company)
• Po Sang Financial Investment Services Company Limited (Hong Kong, 1980, 100%, gold operations and investment holding)
• Po Sang Securities and Futures Limited (Hong Kong, 1993, 100%, brokerage services with securities and futures)
• Sin Chiao Enterprises Corporation, Limited (Hong Kong, 1961, 100%, investment holding)
• Sin Hua Trustee Limited (Hong Kong, 1978, 100%, trust services)
• BOCHK Asset Management Limited (Hong Kong, 2010, 100%, asset management)
• 14 investment companies registered in the British Virgin Islands in 2014 (Billion Express Development Inc., Billion Orient Holdings Ltd., Elite Bond Investments Ltd., Express Capital Enterprise Inc., Express Charm Holdings Corp., Express Shine Assets Holdings Corp., Express Talent Investment Company, Gold Medal Capital Inc., Gold Tap Enterprises Inc., Maxi Success Holdings Ltd., Wise Key Enterprises Corp.

In 2015, a subsidiary of BOCI-Prudential took 449th place among the largest investment companies in the world in terms of assets under management ($ 10.230 billion) ^[9] . This company uniting a number of investment funds (BOCHK Aggressive Growth Fund, BOCHK Balanced Growth Fund, BOCHK China Equity Fund, BOCHK Conservative Growth Fund, BOCI - Prudential Asset Management Limited, BOCI - Prudential Trustee Limited) was formed in cooperation with the British insurance company Prudential plc whose share is 36%.

In 2016, BOC Hong Kong spent HK $ 13 million on 28 projects in the field of corporate social responsibility; in 2017, 28 projects were also financed, however, expenses amounted to 200 million, of which HK $ 100 million was transferred to the City University of Hong Kong, another HK $ 50 million to the Hong Kong Football Association; The growth was associated with the celebration of the 20th anniversary of the change in the official status of Hong Kong from the British colony to the special administrative region of the PRC and the 100th anniversary of the presence of the Bank of China in Hong Kong ^[1] .

In mid-November, a BOCHK day is held at the Sathinh Hong Kong hippodrome, which includes the drawing of three first-class cups (BOCHK Jockey Club Cup, BOCHK Wealth Management Jockey Club Mile, BOCHK Wealth Management Jockey Club Sprint) ^[10] .