BOC Geneva Branch contributes to bilateral trade and interconnection between China and Switzerland

Office building of Bank of China Geneva Branch

The Bank of China is the most globalized and comprehensive bank in China. Relying on its global network advantages, the Bank of China connects the global financial market with the domestic multi-level capital market, advocates "One access, Global response", and contributes to the domestic big cycle and the domestic and international double cycle with the capability of globalization and comprehensive service.

The Bank of China Geneva Branch (hereinafter referred to as "the Bank") opened on October 12, 2021. It is one of the youngest overseas institutions of the Bank of China Group, the first Chinese bank in Geneva and the third Chinese financial institution in Switzerland.

Strategic Positioning of the Bank: The Bank is committed to serving bilateral trade and investment between China and Switzerland. It provides deposits, loans, remittances, international settlement, trade financing and other financial services for Chinese and Swiss enterprises and financial institutions. It makes full use of the good local financial ecology and infrastructure, pinpoints the market positioning, builds a characteristic product service system, and strives to become an active participant in the fields of commodity trade and sustainable finance. The Bank focuses on “Cross-border finance”, “Green finance”, “Supply chain finance” and “Technology finance”, taps the advantages of regional service functions and enhances the global service capability of the Bank of China.

Cross-Border Finance: In July 2022, the Global Depositary Receipt Business (GDR) of China-Switzerland Securities Market Interconnection officially opened. This was another milestone in bilateral cooperation since the two countries signed the FTA in 2013. It is of great significance to broaden bilateral cross-border investment and financing channels, which reflects the continuous improvement of the level of financial cooperation between China and Switzerland, the continuous expansion of fields and increasingly fruitful results. The Bank seized the opportunity of the interconnection of the two countries’ financial markets, and with the advantage of the global network of the Bank of China Group, has cooperated with domestic branches to provide one-stop and all-round financial services for the overseas listing of Chinese enterprises. Up to now, 15 Chinese companies have landed on the Swiss Stock Exchange, raising more than $5 billion, and more than half of the companies chose the custody account service of the Bank of China. In addition, the Bank actively markets and encourages Swiss enterprises and financial institutions to issue CDRs in China, and to invest in China’s bond market through CIBM direct investment and QFII.

Green Finance: The Bank takes sustainable development as its responsibility, strives to implement the financial action plan of the United Nations Environment Programme and actively develops green finance. It sets business indicators related to green credit and ESG, as well as priority approval process in credit approval, and encourages more investment in green businesses. Up to now, nearly 50% are projects linked to green and sustainable finance.

Staff of the Bank participate in Geneva traditional festival L'Escalade race

Supply Chain Finance: The Bank takes the receivable financing of Huawei's downstream operators as the business breakthrough point to develop the supply chain financing business of the three major operators in Switzerland. The Bank also takes this as a business oppotunity to expand other local high-quality target customers, such as large Swiss supermarkets. Up to now, the accounts receivable buyout business of Swiss telecom operator SALT has been realized, and the financing issuance has been completed.

Technology finance: The high-tech industry is the top priority of China's economic development. The Bank deeply understands and actively supports the development of innovative industries to provide various financial services for start-ups and increase financing support for technology enterprises and innovative projects. For example, with the help of the Swiss Western Investment Agency, the Bank carried out special marketing for innovative industrial parks, such as the Lausanne Institute of Technology and Lausanne University, and provides financial services for high-tech start-ups with registered capital accounts as the product entry point.

Overall, since the opening of the Bank, the market development has progressed smoothly, the customer base has been continuously consolidated, and products and services have been continuously enriched. Over the past two years, the Bank has strongly supported Chinese "going out" enterprises, and provided credit lines of over $ 500 million to COFCO, Syngenta and IXM (subsidiaries of Luoyang Luanchuan Molybdenum Industry in Switzerland). The Bank has also actively supported local energy, telecommunications, agriculture and other industries, and successfully participated in a number of important landmark projects, effectively enhancing the Bank's local market influence.

In addition, the Bank also undertakes and participates in bilateral high-level economic and trade activities and forums. Since the beginning of 2023, the Bank has participated in and helped organize more than ten investment promotion activities of China delegations in Switzerland, introduced local customers and trade associations to the delegations, and established contacts with local governments. Together with these delegation from Yantian District of Shenzhen, the Bank marketed MSC (Mediterranean Shipping Company), the world's largest container shipping company, and successfully convinced it to set up a branch in China and open an account at the Bank of China Shenzhen Branch.

Cultural exchange is also our mission. The Bank pays great attention to the cultural exchange and integration between China and Switzerland, both in the working environment and in social activities. On one hand, local employees are encouraged to learn Chinese, understand the culture and history of China and participate in the celebration of traditional Chinese festivals, so as to enhance their sense of identity and belonging. On the other hand, teams are organized to participate in local official and non-official activities, including local festival celebrations (such as Swiss National Day) and sports competitions, and to participate in local public welfare and charity activities, in order to enhance the Bank's visibility and the international image of the Bank of China Group.

Switzerland is an innovative and pioneering country with a AAA sovereign credit rating, stable political and economic environment and open and inclusive market. China is accelerating the pace of opening up to promote linkage at home and abroad and mutual assistance between the East and the West. As a financial institution with a sense of mission, the Bank of China Geneva Branch will serve the overall economic and trade of China as its starting point and end result, and build a bridge for bilateral economic, trade and cultural exchanges.