Home > Financial Crisis > Financial News
Bank of China Has The Most International Settlement Transactions in The World
[2009-02-05 10:12:07]
Bank of China had an accumulated amount of 1.7 trillion USD in international settlements, an increase of over 21 percent year-on-year, ranking first among all banks in the world in 2008, according to the Bank of China.
Meanwhile, the factoring business of the Bank of China Group also developed fast. The amount of international factoring business of the whole bank increased by over 50 percent year-on-year and the amount of export double-factoring business exceeded 2.1 billion USD, distinctly ranking first among banks all over the world. The balance in trade finance for domestic and foreign currencies increased by nearly 30 percent year-on-year, with a balance in trade financing for foreign currencies of 15.1 billion USD, occupying a market share of over 30 percent.
By People's Daily Online
Meanwhile, the factoring business of the Bank of China Group also developed fast. The amount of international factoring business of the whole bank increased by over 50 percent year-on-year and the amount of export double-factoring business exceeded 2.1 billion USD, distinctly ranking first among banks all over the world. The balance in trade finance for domestic and foreign currencies increased by nearly 30 percent year-on-year, with a balance in trade financing for foreign currencies of 15.1 billion USD, occupying a market share of over 30 percent.
By People's Daily Online
Related Articles:
Most Read
- Profits in China's State Firms Fall 17.6% in First 9 Months
(2009-10-20) - China Can Build ′Green Economy′ by 2030
(2009-03-02) - Dollar Mixed as Investors Waiting for European Rate Decision, U.S. Job Report
(2009-04-02) - Dollar Rises Against Major Currencies
(2009-01-15) - PM: Japan to Provide $17 Bln for Asian Countries to Boost Growth
(2009-02-01) - Assets of Foreign Banks in China Up 7.37% in 2008
(2009-03-16) - Medvedev Lauds Gov't's Efforts to Handle Economic Crisis
(2009-09-10) - Chinese Shares Sink 4.7% on Investors' Economic Concerns, Regional Losses
(2009-02-19) - US Firms Upbeat about China
(2009-05-13) - HSBC: China's Economic Growth Likely Back to Well Over 8% in Q2
(2009-01-19)
Related Photos
 |
Jobs Increase in Second Quarter |
|
Chinese Shares Hit one-year High, Driven by Heavy Weights |
|
Uncertainty Overshadows FDI into China - Special |
|
US Firms Upbeat about China |
|
Power Output Dip Seen for April |
|
Spending on Core Sector Up |
|
China's Foreign Reserves Hit $1.95 Trillion at End of March |
|
China's Feb. Trade Worst in Decade as Global Downturn Deepens |
|
Chinese Banks Profit up 30.6% in 2008 |
