Bank of China Special

MILESTONE EVENTS

China Daily |  Updated:2023-10-18

1. Bank of China proposed to construct a "financial artery" for the Belt and Road Initiative in 2014.

2. BOC pioneered issuing a BRI-themed bond in 2015. Since then, it has issued five such bonds, with a total value worth $14.6 billion, for the development of the BRI. To date, BOC is the leading financial institution in terms of the frequency, scale, scope and currency portfolio in issuing BRI-themed bonds.

3. As the major underwriter and a leading book runner, BOC assisted Hungary to issue an renminbi-dominated bond worth 1 billion yuan ($136.8 million) on July 26, 2017. This was Hungary's first RMB bond issued in China's interbank bond market and its first sovereign bond targeting cooperation in the framework of BRI. It was also the first sovereign Panda Bond in the scheme of Bond Connect.

4. BOC attended a subforum on finance at the second Belt and Road Forum for International Cooperation and signed an agreement on green investment in Belt and Road regions with related parties on April 25, 2019.

5. BOC hosted a matchmaking event on April 25, 2019 during the second Belt and Road Forum for International Cooperation, helping nearly 1,000 business representatives from 75 countries and regions identify their partners. This was the second time that BOC hosted the event after the first session of the forum in 2017.

6. By 2019, BOC had held eight sessions of international workshops for BRI-related cooperation. The workshops were included in the list of achievements announced by the second Belt and Road Forum for International Cooperation.

7. In September 2022, BOC issued a document on several measures to assist the high-quality development of the BRI with its financial services.

8. BOC's branch bank in Riyadh, Saudi Arabia, became operational in September 2023. To date, BOC boasts overseas operations in 64 countries and regions, including 44 countries involved in the BRI, marking that BOC is one of the leading banks worldwide in terms of the number of countries it serves.

9. In September 2023, BOC issued the world's first BRI-partner-themed green notes, with all the raised funds used to support qualified green projects in Belt and Road countries.

10. To date, the number of projects in Belt and Road countries receiving BOC's lines of credit surpassed 1,000. The total amount of credits exceeded $290 billion.


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