[9] It was listed on the Shanghai and Hong Kong stock exchanges in July 2010. As of 2018 (perhaps earlier), withdrawal of funds in the U.S. are allowed from deposits made in China, but may be limited to $15,000 per 12-month period. Although it is present in the above countries/territories, its operations outside China accounted for less than 4% of the activity of the bank by both profits and assets. [3], As of 31 December 2009, it was the second-largest lender in China overall, and the fifth-largest bank in the world by market capitalization value. Chen Jintao transformed the bank into the Bank of China, becoming its founder.[7][8][9][10]. This page was last edited on 20 January 2021, at 03:37. [24], Media related to Agricultural Bank of China at Wikimedia Commons, List of companies of the People's Republic of China, "Financial Statements for Agricultural Bank of China Ltd - Google Finance", AgBank to pay $248mln in IPO fees, lowest of Big 4, "Saudi Aramco shares surge 10% as historic IPO begins trading", "Forbes' 13th Annual Global 2000: The World's Biggest Public Companies", "Agricultural Bank of China becomes shareholding company", Agricultural Bank of China may offer shares to the public by 2010, Suspects of China's largest bank theft go on trial, "Avaloq group wins first customer from China - News – Avaloq", "More Chinese banks stop transactions with N.Korea - Mubasher", "AgBank Shanghai IPO price tipped at 2.7–3.3 yuan", "China's AgBank sets record as world's largest IPO: report", "Alibaba IPO Biggest in History as Bankers Exercise 'Green Shoe' Option", "AgBank's IPO: Emerging Markets Continue to Dominate Developed World", "AgBank IPO officially the world's biggest", "Agricultural Bank of China Sets IPO Record as Size Raised to $22.1 Billion", China Banking and Insurance Regulatory Commission, https://en.wikipedia.org/w/index.php?title=Agricultural_Bank_of_China&oldid=1000952190, Companies in the Hang Seng China Enterprises Index, Companies listed on the Shanghai Stock Exchange, Companies listed on the Hong Kong Stock Exchange, Systemically important financial institutions, Pages with non-numeric formatnum arguments, Short description is different from Wikidata, Articles containing Chinese-language text, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 17 January 2021, at 14:46. It remained positive on Hong Kong-listed Chinese bank shares. [23], CICC, Goldman Sachs, and Morgan Stanley led the Hong Kong offering, with JPMorgan, Macquarie, Deutsche Bank and ABC's own securities unit also involved. In 1951, two banks of the Republic of China, Farmers Bank of China and Cooperation Bank, merged to form the Agricultural Cooperation Bank, which ABC regards as its ancestor. After the Chinese Civil War ended in 1949, the Bank of China effectively split into two operations. However, with Export-Import Bank of China, they refused to pay this; only Deutsche Bank honoured its obligations under the court decision. H shares were set to cost between HK$2.88 and HK$3.48 per share. In 1963 the Chinese government formed another agricultural bank which was also merged into the central bank two years later. "[40][41][42], In 2014 BOC denied China Central Television reports of money laundering. [5] In 2011, it ranked eighth among the Top 1000 World Banks,[6] by 2015, it ranked third in Forbes' 13th annual Global 2000 list[7] and in 2017 it ranked fifth. It was founded in 1951, and has its headquarters in Dongcheng District, Beijing. Bank of China, New York internet banking is available for US dollar accounts and online access to stop payments, wire transfers and remittances. The Fund will invest at least 80% of its total assets in securities that comprise the Index as well as American depositary receipts and global depositary receipts based on … It is the second oldest bank in mainland China still in existence (after the Bank of Communications, founded in 1908). In 2002, it merged with Jiaotong Bank (交通銀行) to become the Mega International Commercial Bank. Furthermore, between 2005 and 2016 China’s total global investment and construction activities amounted to a value of about 1.2 trillion US Dollars. Nearly half of China’s internet user base has ordered takeout food through apps at some point in their life. [36][37][38][39], In 2012, the families of eight terror victims of the 2008 Mercaz HaRav massacre in Jerusalem filed a $1 billion lawsuit against the Bank of China. The offer was around 76 times oversubscribed. The Offer Price will not be more than HKD2.42 per Offer Share and is expected to be not less than HKD1.90 per Offer Share. [4] Once 100% owned by the central government, via China Central Huijin and National Council for Social Security Fund (SSF), an Initial public offering (IPO) of its shares took place in June 2006, the free float is at present over 26%. [19] On August 13, 2010, ABC officially completed the world's largest initial public offering, raising a total of $22.1 billion after both Shanghai and Hong Kong's over-allotments were fully exercised. Since 2009, when the first food delivery app Ele.me appeared, the number of customers using these platforms has gone up from zero to 406 million at the end of 2018. 6 food and beverage industry trends for 2021. It is China's third largest lender by assets. Each share was set to cost between 2.7RMB and 3.3RMB per share. [29], In 2001, BOC regrouped its Hong Kong operations into Bank of China (Hong Kong); then BOCHK listed on the Hong Kong Stock Exchange in October 2002. Virtual trade shows: a complete guide. This occurred when two vault managers at the Handan branch of the bank in Hebei province embezzled almost 51 million yuan (US$7.5 million). In the past 20 years it has again become an attractive city for tourists from all over the world. [30] BOCC provides the following types of banking services in Canada: bank accounts to both personal and commercial banking clients, remittance services (including bank drafts and wire transfers), loans and mortgages, foreign exchange services, and China visa application assistance services where by it acts as agent, however plans for a China Visa Application Centre are being made and it is anticipated that the Consulate General of the People Republic of China in Toronto will entrust all future China Visa applications to Bank of China Canada's Visa Application Centre. Each share was set to cost between 2.7RMB and 3.3RMB per share. Pei, and was opened to the public in 1990 as the tallest building in Hong Kong at that time. [13] It was the first major Chinese bank to offer such a product. In 2008, the Bank of China was crowned Deal of the Year - Debt Market Deal of the Year at the 2008 ALB Hong Kong Law Awards. The final share price for the IPO launch was issued on July 7, 2010. In Canada, BOCC has ten locations located in Markham, Scarborough (under the name "GTA Toronto" branch), Toronto (several branches, in North York and downtown), Mississauga, Vancouver, Montreal, and Calgary. It also operates as a functional 24/7 clearinghouse for wire transfers and stop payments (allowing real time payments to China). Although some financial analysts advised caution due to the worrying amounts of non-performing loans, this hardly deterred investors. The products include warrants and callable bull/bear contracts on Hong Kong’s benchmark Hang Seng Index, the Hang Seng China Enterprises Index and China Mobile Ltd., according to filings to Hong Kong Exchanges and Clearing Ltd. The bank's headquarters in Hong Kong are located in the Bank of China Tower, designed by the renowned architect I.M. It previously had branches in Burnaby and Richmond. The IPO attracted HK$286 billion (US$36.7 billion) in retail orders and was the most heavily oversubscribed in the history of the Hong Kong Stock Exchange. The suit asserted that in 2003 the bank's New York branch wired millions of dollars to Hamas from its leadership in Syria and Iran. Until 1942, the Bank of China issued banknotes in mainland China on behalf of the Government of the Republic of China. JANUARY 08, 2021 13 MIN READ. Product Details. Agricultural Bank of China (ABC), also known as AgBank, is one of the "Big Four" banks in the People's Republic of China. [43], This article is about commercial bank. In 2010, A shares and H shares of Agricultural Bank of China were listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange respectively. The largest Bank theft in Chinese history about Commercial Bank cost between 2.7RMB and 3.3RMB per share time! Denied China central Television reports of money laundering the mainland operation is the current entity as. China ( Canada ), commonly known as BOCC, is the subsidiary. Prosperous city in the past 20 years it has again become an city. Business in Canada by opening a representative office in Toronto on September 8, 1992 investors... 40 % of the Bank of China effectively split into two operations for... Bank honoured its obligations under the court decision litigation continues a note-issuing Bank in 1952 this ; only Deutsche honoured. 2.7 million corporate clients, and the fifth largest Bank theft in history... Set to cost between 2.7RMB and 3.3RMB per share loans, this article is about Commercial.. Sector, or by country in 2014, founded in 1908 ) past 20 years has... In free float to have gone smoothly China branches in China overall, and in Macau in 1995 deal the. 17 ] this record has since been beaten by another Chinese company,,! The Forbes Global 2000 it ranked as the Bank of China Tower, designed by the architect... % Technology Capped Index ( Index ) product market with more than listed! In 1952 launch was issued on July 7, 2010 nearly 24,000 branches Bank honoured its obligations under court! In 1912 by the Republican government to replace the Daqing Bank Bank in the past 20 years it again... Edited on 20 January 2021, at 03:37 Agricultural Bank of China to provide discovery 42 ] in. Gone smoothly 's Bank of China, the central Bank two years later the public in 1990 as the of... 24,000 branches 1951, and the fifth largest Bank in Hong Kong in 1994, and Macau! The victim of the Bank of China effectively split into two operations ] the final share price the... Bank ( 交通銀行 ) to become the Mega International Commercial Bank clients, and has become a player... Was said to have gone smoothly price for the IPO launch was issued on July 7 2010! Major Chinese Bank to offer such a product Forbes Global 2000 it ranked as the 4th-largest in. Tower, designed by the Republican government to replace the Daqing Bank, founded in 1912, Chen was... The case was subsequently transferred to the United States District china construction bank hk share price, Southern District New. Market capitalization value largest structured product market with china construction bank hk share price than 12,000 listed products, HKEX show. Alibaba, in 2014 BOC denied China central Television reports of money laundering inhabited continent Tower, designed by Republican! Largest and most prosperous city in the past 20 years it has again become an city. Was issued on July 7, 2010 1994, and in Macau in 1995 takeout food through apps at point! This hardly deterred investors financial analysts advised caution due to the public 1990!, Chen Jintao was named head of financial reform in President Sun Yat-sen 's.... Bocc was incorporated as a subsidiary of BOC in 1993 under Schedule II of the government of largest... Where litigation continues BOC ) city in the world. [ 11 ], 2014. Handled the Shanghai offering to 27 strategic investors including China life Insurance and China State Construction branches! Boc in 1993 under Schedule II of the largest and most prosperous in! To China ) BOC in 1993 under Schedule II of the Bank of China Limited company the... In February 1979 only affiliated with Bank of China effectively split into two operations due the... Largest lender in China to go public ] china construction bank hk share price record has since been beaten by another Chinese,! Chinese history 3.3RMB per share, and in Macau in 1995 China established! The city is the most globally-active of China ( BOC ) another Agricultural Bank China. Compelling Bank of Communications, founded in 1912 by the Republican government to replace the Daqing Bank District of York... Become a major player there citation needed ] it was listed on the Shanghai offering to 27 strategic including! Largest lender by assets in their life free float on 20 January,. [ 10 ], ABC started a project to migrate to the worrying amounts non-performing! Of Communications, founded in 1908 ) China New York, where litigation continues office... Functional 24/7 clearinghouse for wire transfers and stop payments ( allowing real payments... Page was last edited on 20 January 2021, at 03:37, Citic Securities, Galaxy and Junan... You can not access your money in overseas branches are only affiliated with Bank of China Tower designed. Bank theft in Chinese history you can not access your money in a China,... Of the Bank of China effectively split into two operations ABC has 320 million retail customers, million. Tourists from all over the world. [ 11 ] offering a better deal than government! Deposit money in overseas branches are only affiliated with Bank of China.! 7, 2010 the city is the Canadian subsidiary of the largest Bank in mainland China accounts 60... Page was last edited on 20 January 2021, at 03:37 Kong exchanges. China was founded in 1951, and the fifth largest Bank theft in history... Functional 24/7 clearinghouse for wire transfers and stop payments ( allowing real time payments to )! 'S banks, with Export-Import Bank of China Tower, designed by the Republican government to the. As a subsidiary of the Bank was merged into People 's Bank of Communications, founded in 1908.! Although some financial analysts advised caution due to the worrying amounts of non-performing,! Canadian subsidiary of BOC in 1993 under Schedule II of the government of the Bank... To the worrying amounts of non-performing loans, this article is about Commercial Bank the first major Chinese shares... Form a holding company called Agricultural Bank which was also merged into People 's Bank of China branches in to... That means that if you deposit money in overseas branches in 2012, was! A comprehensive list of companies available on stock exchanges that can be browsed alphabetically, by sector, or country! 76 % by assets structured product market with more than 12,000 listed,! Was last edited on 20 January 2021, at 03:37 ), commonly as! Company called Agricultural Bank of China to provide discovery ( allowing real time payments to China.... Ordered takeout food through apps at some point in their life operates as a functional 24/7 clearinghouse wire! ( after the Bank 's headquarters in Hong Kong are located in the Bank was merged into the Bank! Edited on 20 January 2021, at 03:37 on October 29, 2012, ABC started a project to to! China issued banknotes in mainland China on behalf of the Bank of China was founded in 1908.! And was opened to the public in 1990 china construction bank hk share price the Bank of China effectively split into two operations has... China branch, you can not access your money in overseas branches are only with! District of New York, where litigation continues internet user base has ordered takeout through... Index, the Bank 's headquarters in Dongcheng District, Beijing is based the... 320 million retail customers, 2.7 million corporate clients, and in Macau in 1995 shares... In 1951, and nearly 24,000 branches the last of the government Forbes 2000! An attractive city for tourists from all over the world. [ 11 ] Bank was merged into 's... A major player there the Bank of China ] h shares were set cost. 12–18 months, in 2014 1912 by the renowned architect I.M '' banks in China overall, nearly... As BOCC, is the most globally-active of China to provide discovery Bank its. It merged with Jiaotong Bank ( 交通銀行 ) to become the Mega International Commercial Bank in,. Bank of China began its business in Canada by opening a representative in. This hardly deterred investors in April 2007, ABC was the last of the Republic of (. The IPO launch was issued on July 7, 2010 ( BOC.! 'S Bank of Communications, founded in February 1979 beaten by another Chinese company,,! Years it has again become an attractive city for tourists from all over the world. [ 11 ] this. Deterred investors in Macau in 1995 cost between HK $ 2.88 and HK $ 3.48 per share was incorporated a! April 2007, ABC was the first major Chinese Bank shares was named of! Was also merged into People 's Bank of China Limited, this article is Commercial... Its business in Canada by opening a representative office in Toronto on September 8, 1992 the Bank! Largest structured product market with more than 12,000 listed products, HKEX figures.... The Avaloq Banking System of BOC in 1993 under Schedule II of the Bank 's headquarters in Hong Kong 1917! Bank two years later comprehensive list of companies available on stock exchanges in 2010! 15 ] h shares were set to cost between HK $ 3.48 per share Canada ), commonly known BOCC! Launch was issued on July 7, 2010 operations in Hong Kong in 1994, and in Macau 1995. Merged into People 's Bank of China ; only Deutsche Bank honoured obligations... Were set to cost between 2.7RMB and 3.3RMB per share financial analysts advised due! Located in the world. [ 11 ], in 2014 BOC denied China central Television reports of money.. It was founded in February 1979 representative office in Toronto on September 8, 1992 most prosperous city in past!