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Century-Old Olympics, Century-Old Bank of China


The Sole Partner Bank of Beijing Olympic Games (2004 - 2008)

 

On the morning of July 14, 2004, Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG) officially announced Bank of China as the partner bank of Beijing 2008 Olympic Games. As the sole partner in the domestic banking industry, Bank of China would offer all-round financial services for Beijing 2008 Olympic Games and Paralympic Games.

For a long period of time, Bank of China has made earnest efforts to support the development of sports undertakings and boasts a profound tradition of cooperating with the sports community. It was the only sponsoring bank of Beijing Asian Games in 1990. This time with another opportunity to cooperate with the sports community on the occasion of the Olympic Games, Bank of China would serve as a window for the world to understand the entire banking industry of China. As "the financial steward of Beijing Olympic Games", Bank of China will not only provide financial services for foreign athletes, accompanying officials, journalists and general public, but also assist BOCOG in providing financial services for Chinese sports delegation. Meanwhile, it will participate in the sales of the tickets of Beijing Olympic Games and Paralympic Games, and provide domestic and overseas financial services for the torch relay of Beijing Olympic Games.


Bank of China became the partner bank of Beijing 2008 Olympic Games

In order to be able to provide internationalized and high quality financial services for Beijing Olympic Games, under the guidance of the strategy of "Olympics for Development, Development for Olympics", Bank of China made plenty of preparations.

In terms of hardware facilities, Bank of China first optimized the layout of outlets by thoroughly renovating the outlets across the country, launching "green channels", setting up ramps and low counters intended for the disabled, and providing guide service so as to make all outlets "barrier-free". During the four years of preparation, the whole bank renovated a total of 4,276 outlets and added more than 8,000 ATMs. In the 835 outlets located in the six hosting cities, it provided comprehensive financial services for overseas customers including exchange service for a maximum of 17 foreign currencies, cashing service for traveler's check, global remittance and other services, and over 1,800 self-service machines which were able to accept foreign cards with Chinese-English bilingual service interfaces.

Bank of China also prepared sufficient human resources to serve the Olympic Games with more than 22,000 staff directly serving the Olympic Games including over 2,500 dispatched to the venues and living areas. Bank of China carried out extensive and in-depth service training and skill tests to nearly 100,000 employees across the bank, thus greatly improving the comprehensive quality and service level of the employees. 95566 Customer Service Center assigned a lot of agents to provide multilingual services in Chinese, English, French, Japanese, Spanish and other languages, making Bank of China the first financial institution to introduce multilingual telephone banking service at home to meet the needs of foreign guests to inquire about financial service information.

In terms of products and services, Bank of China designated 37 sub-branches to provide "one-to-one" exclusive services to 37 Olympic venues, and successfully recruited nearly 20,000 credit card contracted merchants. Bank of China continuously innovated financial products and services, and issued over ten Olympic-themed financial products successively within less than two years, including Bank of China Visa Olympic Credit Card, Bank of China VISA Olympic HKD Prepaid Card, the world's first Olympic Fuwa Gift Deposit Receipt and Olympics-Featured Teenager Wealth Management Account, among others.

As the sole partner bank of Beijing Olympic Games, Bank of China made the outstanding achievements of "zero error and zero complaint". During the Olympic Games, Bank of China handled a total of 110,000 transactions and processed exchange business in 17 foreign currencies, and dispatched small-denomination foreign currencies that could be converted into USD 890 million; the on-site outlets and the customer service center provided services in multiple languages and dialects, successfully fulfilling all the Olympic service tasks and thus recognized by both Chinese and foreign customers.

In the process of serving the Olympic Games, Bank of China obtained the economic benefits directly related to the Olympic Games in the following three aspects: First, sales of financial products. Bank of China developed dozens of Olympic-themed products, and especially after the launch of Olympic gift deposit receipt services, it attracted RMB 92.4 billion of deposits; and the number of various Olympic-themed bank cards issued reached 3.05 million. Second, the exclusive interests obtained in the capacity of an Olympic partner. Bank of China obtained an income of more than RMB 7 billion from the sales of franchised goods of Olympic Games. It also issued Olympic commemorative banknotes of HKD and MOP, which were also hot in the market. Third, spread income from fund deposition. This was an important reason why Bank of China became the first sponsor to announce the recovery of its sponsorship investment in Olympic Games.

Inspired by the century-old history of Bank of China and the century-old dream of Chinese people to host the Olympic Games, Bank of China was proud to say "century-old Olympic Games, century-old Bank of China". The core values and business philosophy of Bank of China related to the consistent pursuit of excellence, which happened to coincide with the Olympic spirit- Higher, Faster and Stronger, and services provided for Olympic Games gave a tremendous boost to Bank of China's efforts to implement international brand strategy.

The fulfillment of the Olympic service tasks achieved by Bank of China employees across the world not only demonstrated the abundant strength and good service image of Bank of China and Chinese financial institutions to the whole world, but improved the brand, business and overall competitiveness of Bank of China.

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