Bank of China was reorganized into a government-authorized international exchange bank in October 1928. Under this new structure, it prioritized foreign exchange business and expanded its international presence by establishing more branches abroad. The bank crafted its operational policy to serve the public and improve people's livelihoods by increasing deposits, supporting the rural economy and national industry and commerce, and promoting the development of social production.

During the Chinese People's War of Resistance Against Japanese Aggression, Bank of China, driven by the patriotic belief that the nation's fate rests on each individual, played a crucial role in transporting banknotes and supplying military necessities. It raised funds to facilitate the development of the rear base and organized overseas Chinese remittances to promote foreign trade, thereby providing strong support to the resistance forces.

From 1937 to 1942, the bank established 106 new offices in Southwest and Northwest China. It also set up 20 branches overseas in countries such as Vietnam, Burma (Myanmar today), India, Pakistan, and Singapore, thereby facilitating the flow of personnel, material, intelligence, and capital among Allied nations. This network also enabled overseas Chinese to support China's wartime efforts. During the war, the bank collected about $75 million in remittances and donations, equivalent to about 1.52 billion yuan of legal tender. In October 1938, with the approval of the higher-level Party organization, the Bank of China branch of the Communist Party of China in Shanghai was established. Party members organized progressive workers to carry out a series of struggles.

In 1939, representatives of the Eighth Route Army, including Zhou Enlai, sent a thank you letter to Bank of China for handling overseas remittances in support of the war. [Photo/BOC]