Deng Xiaoping, first secretary of the East China Bureau of the CPC Central Committee, conveyed the guidelines of the takeover during a meeting on June 4, 1949 in Shanghai: to take over Bank of China intact, transform it step by step, and resume its business as soon as possible. On June 6, the new general management office and the Shanghai branch of Bank of China officially resumed public operations. On Nov 1, the general management department office was relocated to Beijing to align with national foreign exchange policy and was subsequently co-located with the foreign business management department of the head office of the People's Bank of China.

From the 1960s onward, the bank provided foreign exchange loans to support key sectors, including trade, light industry, textiles, metallurgy, chemicals, machinery, agriculture, and construction, and funded technological modernization to enhance productivity and quality. 

The general order on the takeover of Bank of China issued by the Shanghai Military Control Commission of the People's Liberation Army.

In March 1979, the State Council approved the application report for Bank of China's system reform, and Bank of China was separated from the People's Bank of China without changing its name, so that "State Administration of Foreign Exchange" and "Bank of China" would be two brands under the same institution. Besides, the general management department office of Bank of China was renamed the head office of Bank of China.

In September 1983, the State Council designated Bank of China as an economic entity directly under its leadership and the country's specialized foreign exchange bank, responsible for the management of national foreign exchange operations.

Bank of China has been at the forefront of China's reform and opening-up. It played a key role in advancing national priorities, including assisting in the resolution of the China-US frozen assets issue and supporting the restoration of the People's Republic of China's lawful seat in international organizations. BOC gradually became the primary channel for the country's external financing, actively supporting major national projects, accelerating the expansion of overseas operations, and continuously fostering innovation across various business areas.

The first domestic RMB credit card issued in 1985 by BOC's Zhuhai branch.