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Within mainland China, BOCHK operates 14 branches (as of January 2005) separately from its parent. BOCHK is treated as a foreign bank, more properly, 境外銀行 (banks outside of the territory), for regulatory purposes as it is incorporated in Hong Kong. However, partly to clear up confusion between it and its parent in the mainland, it ...
In 2001, BOC regrouped its Hong Kong operations into Bank of China (Hong Kong); then BOCHK listed on the Hong Kong Stock Exchange in October 2002. Two-thirds of its share capital are in free float . The bank's headquarters in Hong Kong are located in the Bank of China Tower , designed by the renowned architect I.M. Pei , and was opened to the ...
The building was initially built by the Hong Kong Branch of the Bank of China; its Garden Road entrance continues to display the name "Bank of China", rather than BOCHK. The top four and the bottom 19 stories are used by the Bank, while the other floors are leased out.
According to Bloomberg, ICBC's market capitalisation at the end of trade based on its Hong Kong shares was US$156.3 billion, making its equity the world's fifth highest among banks, just behind JPMorgan Chase. Meanwhile, ICBC's Shanghai-listed A-shares recorded more modest gains and ended up 5.1% from the offering price of RMB 3.12.
The site was originally occupied by the eastern part of the old City Hall, which had been built in 1869.The western part of the City Hall was demolished in 1933 to make way for the 3rd generation of the Hong Kong & Shanghai Bank Building, while the eastern part was demolished in 1947 to make way for the Bank of China Building.
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It moved its headquarters back to Beijing in 1980. It merged (along with nine others) with Hong Kong–based Po Sang Bank in 2001 to form Bank of China (Hong Kong). Between 1989 (after the Hong Kong branch of the Bank of China moved to the new Bank of China Tower) and 2001, its headquarters were located at the Bank of China Building in Central.