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BOC Hong Kong
Bank of China (Hong Kong) Limited () also known as its short name Bank of China (Hong Kong) or BOCHK (), is a subsidiary of the Bank of China (via a Hong Kong-listed intermediate holding company BOC Hong Kong (Holdings)). Bank of China (Hong Kong) is the second-largest commercial banking group in Hong Kong in terms of assets and customer deposits (2008 data), with more than 190 branches across Hong Kong as of the end of 2019. It is also one of the three commercial banks licensed by the Hong Kong Monetary Authority to issue banknotes for the Hong Kong dollar. BOCHK is legally separated from its parent, Bank of China (BOC), although they maintain close relations in management and administration and co-operate in several areas including reselling BOC's insurance and securities services. BOCHK is also the biggest member and a founder of the JETCO ATM and payment system, and the designated clearing bank in Hong Kong for transactions involving the Renminbi (RMB / CNH). BOC ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of China Tower (Hong Kong)
The Bank of China Tower (BOC Tower) is a skyscraper located in Central, Hong Kong. Located at 1 Garden Road on Hong Kong Island, the tower houses the headquarters of the Bank of China (Hong Kong) Limited. One of the most recognisable landmarks in Hong Kong, the building is notable for its distinct shape and design, consisting of triangular frameworks covered by glass curtain walls. The building was designed by Chinese-American architect I. M. Pei and L.C Pei of I.M Pei and Partners. At a height of , reaching high including a spire, the building is the fourth tallest skyscraper in Hong Kong, after International Commerce Centre, Two International Finance Centre and Central Plaza. It was the tallest building in Hong Kong and Asia from 1989 to 1992, and it was the first supertall skyscraper outside the United States, the first to break the 305 m (1,000 ft) mark. It was surpassed by Central Plaza on the same island in 1992. Construction began on 18 April 1985 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Bank
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with corporations or a large/middle-sized business to differentiate it from a retail bank and an investment bank. Commercial banks include private sector banks and public sector banks. History The name ''bank'' derives from the Italian word ''banco'' "desk/bench", used during the Italian Renaissance era by Florentine bankers, who used to carry out their transactions on a desk covered by a green tablecloth. However, traces of banking activity can be found even in ancient times. In the United States, the term commercial bank was often used to distinguish it from an investment bank due to differences in bank regulation. After the Great Depression, through the Glass–Steagall Act, the U.S. Congress required that commercial banks only engage i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nanyang Commercial Bank
Nanyang Commercial Bank (NCB, Chinese: 南洋商業銀行) is a bank based in Hong Kong and a wholly owned subsidiary of China Cinda Asset Management China Cinda Asset Management Co., Ltd. known as China Cinda or just Cinda is a Chinese merchant bank and asset management company. The corporation was founded as a state-owned enterprise and a bad bank for China Construction Bank in 1999. The ba ... (Cinda), with 42 branches. It was established in Hong Kong on 14 December 1949. NCB primarily focuses on corporate customers, in particular trading companies. In 2015 Cinda acquired Nanyang Commercial Bank from Bank of China (Hong Kong) for HK$68 billion. Cinda had purchased NCB to diversify its business in areas of cross-border finance. Strategic Development It was reported in December 2018 that Nanyang Commercial Bank was one of the shareholders of a new fintech firm Nova Credit, which had entered bid to a new Know Your Client utility platform to be implemented for banks in Hon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yien Yieh Commercial Bank
Yien Yieh Commercial Bank () was a bank in Hong Kong. It was established in Beijing in 1915 by Mr. Zhang Zhenfang (), the cousin of Yuan Shikai, to support the specialized salt industry by providing official funds under government supervision. Yien Yieh Commercial Bank, Continental Bank, Kincheng Banking Corporation and China & South Sea Bank were called "four northern banks" in 1920s in China. In 1952, it was grouped into the "Joint Office of Joint Public-Private Banks" with eight other Chinese banks. In 2001, it was merged to form Bank of China (Hong Kong). See others *Salt in Chinese history Salt, salt production, and salt taxes played key roles in Chinese history, economic development, and relations between state and society. The lure of salt profits led to technological innovation and new ways to organize capital. Debate over gov ... * Four Northern Banks References {{Use dmy dates, date=October 2019 Companies based in Beijing Defunct banks of China Defunct ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong Stock Exchange
The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is reported as the fastest growing stock exchange in Asia. The stock exchange is owned (through its subsidiary Stock Exchange of Hong Kong Limited) by Hong Kong Exchanges and Clearing Limited (HKEX), a holding company that it also lists () and that in 2021 became world's largest bourse operator in terms of market capitalization, surpassing Chicago-based CME. The physical trading floor at Exchange Square was closed in October 2017. History The Hong Kong securities market can be traced back to 1866, but the stock market was formally set up in 1891, when the Association of Stockbrokers in Hong Kong was established. It was renamed as The Hong Kong Stock Exchange in 1914. By 1972, Hong Kong had four stock exchanges in operation. There were subse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Renminbi
The renminbi (; currency symbol, symbol: ¥; ISO 4217, ISO code: CNY; abbreviation: RMB) is the official currency of the China, People's Republic of China and one of the world's most traded currencies, ranking as the fifth Template:Most traded currencies, most traded currency in the world as of April 2022. The Yuan (currency), yuan ( or ) is the basic unit of the renminbi, but the word is also used to refer to the Chinese currency generally, especially in international contexts. One yuan is divided into 10 Jiao (currency), jiao (), and the jiao is further subdivided into 10 Fen (currency), fen (). The renminbi is issued by the People's Bank of China, the Central bank, monetary authority of China. Valuation Until 2005, the value of the renminbi was Fixed exchange-rate system, pegged to the United States dollar, US dollar. As China pursued its Chinese economic reform, transition from planned economy, central planning to a market economy and increased its participation in foreig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clearing (finance)
In banking and finance, clearing denotes all activities from the time a commitment is made for a transaction until it is settled. This process turns the promise of payment (for example, in the form of a cheque or electronic payment request) into the actual movement of money from one account to another. Clearing houses were formed to facilitate such transactions among banks. Description In trading, clearing is necessary because the speed of trades is much faster than the cycle time for completing the underlying transaction. It involves the management of post-trading, pre-settlement credit exposures to ensure that trades are settled in accordance with market rules, even if a buyer or seller should become insolvent prior to settlement. Processes included in clearing are reporting/monitoring, risk margining, netting of trades to single positions, tax handling, and failure handling. Systemically important payment systems (SIPS) are payment systems which have the characteristic t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Automatic Teller Machine
An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, funds transfers, balance inquiries or account information inquiries, at any time and without the need for direct interaction with bank staff. ATMs are known by a variety of names, including automatic teller machine (ATM) in the United States (sometimes redundantly as "ATM machine"). In Canada, the term ''automated banking machine'' (ABM) is also used, although ATM is also very commonly used in Canada, with many Canadian organizations using ATM over ABM. In British English, the terms ''cashpoint'', ''cash machine'' and ''hole in the wall'' are most widely used. Other terms include ''any time money'', ''cashline'', ''tyme machine'', ''cash dispenser'', ''cash corner'', ''bankomat'', or ''bancomat''. ATMs that are not operated by a financial in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
JETCO
JETCO (), officially Joint Electronic Teller Services Limited () is a network of automatic teller machines in Hong Kong and Macau. History JETCO was founded by the Hong Kong Branch of the Bank of China (now Bank of China (Hong Kong)) in 1982 along with the Bank of East Asia, Chekiang First Bank, Shanghai Commercial Bank and Wing Lung Bank, and at present covers all banks in Hong Kong and Macau, except for HSBC and Hang Seng Bank, which uses a separate system known as ETC ( 易通財). JETCO connects with the UnionPay network in Mainland China: JETCO cardholders can withdraw RMB cash at UnionPay machines in a number of major cities in Mainland China, while UnionPay cardholders can withdraw HK$ cash (no more than HK$5,000 per day) at JETCO machines in Hong Kong. However, after 1 January 2006, JETCO cardholders can no longer withdraw cash at UnionPay ATMs in Mainland since JETCO and UnionPay could not reach an agreement. Bank of East Asia has now linked its mainland ATMs to the JE ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Security (finance)
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any form of financial instrument, even though the underlying legal and regulatory regime may not have such a broad definition. In some jurisdictions the term specifically excludes financial instruments other than Stock, equities and Fixed income instruments. In some jurisdictions it includes some instruments that are close to equities and fixed income, e.g., Warrant (finance), equity warrants. Securities may be represented by a certificate or, more typically, they may be "non-certificated", that is in electronic (Dematerialization (securities), dematerialized) or "book entry only" form. Certificates may be ''bearer'', meaning they entitle the holder to rights under the security merely by holding the security, or ''registered'', meaning they enti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong Dollar
The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and the Hong Kong dollar. Three commercial banks are licensed by the Hong Kong Monetary Authority to issue their own banknotes for general circulation in Hong Kong. These banks, HSBC, Bank of China, and Standard Chartered, issue their own designs of banknotes in denominations of HK$20, HK$50, HK$100, HK$150, HK$500, and HK$1000, with all designs being similar to one another in the same denomination of banknote. However, the HK$10 banknote and all coins are issued by the Government of Hong Kong. As of April 2019, the Hong Kong dollar is the ninth most traded currency in the world. Hong Kong uses a linked exchange rate system, trading since May 2005 in the range US$1:HK$7.75–7.85. Apart from its use in Hong Kong, the Hong Kong dol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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