Bank of China executed a large foreign-exchange transaction for Dynacom as its exclusive foreign exchange business partner, supporting the company's renminbi settlement needs for 12 very large crude carriers (VLCC) ordered from China State Shipbuilding Corporation Limited.

Given the long transaction cycles and large values involved in ship trade, the deal combined foreign exchange (FX) derivatives to help Dynacom lock in long-term exchange-rate costs. It also helped the company mitigate cross-border operating risks. The project broke with the long-standing reliance on US dollar settlement in international high-end ship trade and expanded the cross-border use of RMB in large-vessel trade.

As BOC's regional headquarters in Europe, Bank of China (Europe) S.A. has a network of 15 institutions across 13 European countries. Its Athens branch, established in 2019, has leveraged BOC's service mechanism with global expertise accessible at any point of contact to accelerate the development of businesses with distinctive regional strengths and support China-Europe economic and trade cooperation.

BOC Europe has also established the BOC Europe Shipping Finance Center in Greece, drawing on the country's strengths in the global shipping industry to provide end-to-end cross-border financial services. BOC Europe has made multiple breakthroughs in credit cooperation with leading Greek shipping companies, setting a precedent among Chinese commercial banks for bilateral mortgage financing without credit insurance. It has also joined European peers in participating in a liquid carbon dioxide carrier project to support the shipping industry's shift towards lower-carbon operations and foster deeper integration of the China-Greece and China-Europe shipping industry chains.

BOC, China's main channel for foreign exchange and trade services, has long drawn on RMB FX derivatives and other tools to support foreign trade enterprises in their global operations. It now quotes 45 currencies for FX settlement and sales, while the group provides foreign exchange services in more than 100 currencies.

In the first half of 2026, BOC's cross-border RMB settlement volume reached RMB 11 trillion, while its cross-border RMB clearing volume exceeded RMB 472 trillion. It became the first commercial bank with RMB settlements accounting for more than 30% of its trade-in-goods settlements, maintaining its market-leading position.