BOC poised to inaugurate its Shanghai headquarters
By Maggie Zhang |
March 17, 2012, Saturday
|
Print Edition
Print Edition
The Bank of China will open its yuan trading headquarters in Shanghai next Tuesday as the first among the country's big-four state-owned banks to open its quasi-second headquarters in the city to ride on its rise as a global yuan center by 2015.
The Beijing-based bank yesterday said it will hold an opening ceremony to launch the headquarters as Shanghai drums up the beat to lure financial institutions in its push to evolve into a global financial center by 2020.
China's big-four banks - BOC, the Industrial and Commercial Bank of China, the Agricultural Bank of China and China Construction Bank -are all based in Beijing now.
The Shanghai headquarters of BOC, the country's biggest foreign exchange bank, will occupy three floors of the 52-story BOC Tower in Lujiazui financial district of the Pudong New Area, sources told Shanghai Daily last month.
The People's Bank of China, the central bank, set up its Shanghai headquarters in 2005 to implement open market operations and conduct market research, while the Beijing headquarters of the central bank focuses on drafting policies and decision making.
The Beijing-based bank yesterday said it will hold an opening ceremony to launch the headquarters as Shanghai drums up the beat to lure financial institutions in its push to evolve into a global financial center by 2020.
China's big-four banks - BOC, the Industrial and Commercial Bank of China, the Agricultural Bank of China and China Construction Bank -are all based in Beijing now.
The Shanghai headquarters of BOC, the country's biggest foreign exchange bank, will occupy three floors of the 52-story BOC Tower in Lujiazui financial district of the Pudong New Area, sources told Shanghai Daily last month.
The People's Bank of China, the central bank, set up its Shanghai headquarters in 2005 to implement open market operations and conduct market research, while the Beijing headquarters of the central bank focuses on drafting policies and decision making.
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