Bank of China Has The Most International Settlement Transactions in The World

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