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Innovative banking services and products【China daily】

2012-02-09

In the past few decades, Bank of China (BOC) has established "Primo" services that pioneered into more diversified fields in the financial industry of China.

1984

The BOC issued bonds in Tokyo - the first time for a Chinese financial institution to issue bonds overseas after the founding of the New China in 1949.

1985

The bank published the Chinese mainland's first bankcard in Zhuhai city that emerged into the era of the bankcard.

BOC initiated its cooperation and connections with the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in 1985 to become one of the first domestic banks to launch into the business.

The first group of automatic teller machines (ATM) in China went into service at the Zhuhai Branch of the BOC and three subbranches.

1986

The bank, along with other organizations, had participated in the country's first large energy project supported by overseas investments through a loan.

1992

The bank was the first to initiate a service for export buyer's credit and the first to introduce the service of forward exchange settlement/selling five years later.

1998

The BOC was the first bank to open e-banking services in China.

1999

The BOC delivered the first currency transaction of the (Euro for the US dollar) in China while it was the second bank in the world to do so.

2000

The BOC was the first domestic bank to join with foreign banks, to launch a service of the acceptance of a discount business.

2004

The bank was the first in Asia to release the "Eurocard".

2005

It was the first bank to initiate a swap business for foreign currency against the yuan.

2006

The bank started its aircraft leasing business amid the country's financial industry.

2007

The BOC was the first domestic bank to establish a private banking business.

2009

It started to use the yuan as the settlement currency for border trades.

2010

The bank was the first to complete a business transaction in e-commerce under the TSU platform.

2011

It dealt with the country's first trade to convert the yuan into a foreign option.

From: China Daily

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