On April 19, Bank of China Beijing Branch initiated an 18-day foreign exchange business training for staff from Beijing Rural Cooperative Credit Union. Forty-nine of the clerks took up their new posts after attending systematic training courses in foreign exchange settlement, traveller's cheque, bill for collection, credit card, international settlement, foreign currency identification, foreign exchange trading, foreign currency regulatory policies, and business case analysis. As a project carried out by Bank of China for its financial counterparts to develop foreign exchange business, such training would benefit their joint efforts in providing satisfactory banking services with efficiency and professionalism for enterprises and individuals in Beijing and for international partners.
Being a heavyweight on the capital's financial arena, Beijing Branch has made great contribution to economic prosperity, stability and optimization.
On the strength of advanced foreign currency cash business, Beijing Branch has performed well in its agent service of interbank foreign currency cash distribution and allocation. As the designated bank by the country in foreign exchange and trade operations, Bank of China enjoys abundant experience in foreign currency cash distribution and allocation, in addition to a professional team, a comprehensive security mechanism and swift allocation. All these have contributed to its long-time influence in the said business. With sufficient foreign currency cash reserves, Bank of China has made itself the foreign currency cash distribution centre of five provinces in northern China, and is proud to guarantee that the capital's market has sufficient supply of foreign currency cash. Moreover, due to its diverse allocation methods, Beijing Branch has been providing unpopular currency cash services in a timely and orderly manner whenever there is a shortage in Beijing financial market.
Once being the exclusive bank to approve foreign exchange business in Beijing, Bank of China boasts experience in risk prevention and has a profound understanding of foreign exchange regulatory policies. When some of its peers were qualified, Bank of China selflessly offered them enormous help, making contribution to the healthy development of such business in Beijing.
Bank of China has attached great importance to the training of counterfeit foreign currency identification, and provided relevant courses for the branch and outlets of Bank of China, hundreds of foreign exchange outlets, and its financial counterparts in Beijing. Currently, Bank of China Beijing branch has a potent team in this area. The Bank is able to keep itself updated with the latest information on counterfeit currency at home and abroad, detect and identify counterfeit currencies, and has the final decision-making right authorized by the China Banking Regulatory Commission. The training course offered by Bank of China has added to the ability in counterfeit foreign currency identification among its interbank counterparts, reduces related costs and crimes, thus improving the local foreign currency cash environment and making contribution to the stability of social economy.
At present, domestic commercial banks and branches of most foreign-funded banks in Beijing have interbank foreign exchange accounts with Bank of China. Through these accounts, Bank of China, as a reserve force for the State Administration of Foreign Exchange, has solved many interbank clearance problems over the years, helping to maintain sound interbank business contacts.
Being selective with its cooperative insurance partners and providing its own insurance service, Bank of China makes investment and wealth management easier for customers from all walks in Beijing, thus strengthening the economy of the city. Besides, Bank of China has vigorously examined its potential insurance company partners to protect investors' interests and reduce their investment risks.
On top of that, Beijing Branch has performed wellin B-share clearance of the securities companies and business departments in Beijing, achieved smooth transfer among the securities companies, B-share investors and the stock exchanges, and improved the securities and financial environment in Beijing.
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