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Personal Financial Services in China (Take Bank of China as selected bank)
Finance & Accounting
Pages 9 (2259 words)
Personal Financial Services in China Contents Contents 2 Introduction of Bank of China 3 Chinese financial background 3 Analysis of Chinese financial industry 5 Analysis of Chinese Personal Financial services 6 The position and Situation of Bank of China in Chinese bank industry and personal financial services industry 7 References 11 Introduction of Bank of China One of the four main publicly owned commercial banks in China is the Bank of China.
However in 1928, Central Bank of China, another independent body, came into existence that formulated the monetary policy and, thus, the bank solely became a commercial bank (Ji, 2003, p.137). In terms of its operations in the People’s Republic of China, this bank is the second largest commercial bank and in terms of market capitalisation, it is the fifth largest in the world. The bank went public in the year 2006. The bank has its operations all over the world which includes the Americas, Asia Pacific, Europe, Africa as well as the Sub-Saharan countries. The bank has assets of worth RB 6,951.68 billion and is a very large lender to individual and businesses. The bank regularly reports increase in their profit levels as high as 20%. It is the only non central bank of the country that has the license to print notes. The bank has ventured into the business of corporate banking that includes financing for corporate, trade related services, corporate savings services, personal banking including management of personal wealth, providing personal loans as well as credit and debit card facilities. ...
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