bank of china-unspn adr (BACHY) Key Developments
Bank of China Limited Presents at HK/China Financials Corporate Day, Dec-05-2013
Dec 3 13
Bank of China Limited Presents at HK/China Financials Corporate Day, Dec-05-2013 . Venue: Hong Kong, China.
Deutsche Borse Group and Bank of China Signs a Memorandum of Understanding Regarding a Strategic Cooperation
Dec 3 13
Deutsche Borse Group, and Bank of China, announced that they have signed a memorandum of understanding regarding a strategic cooperation. Under the memorandum of understanding the two parties will enter into a preferred partnership to fully explore potential cooperation's across the value chain in their respective geographies. As part of an on-going strategic dialogue, the intention of the parties is to provide high quality products and services in order to further develop cross border business between China and the European Union. As part of the initiatives, the two parties intend to jointly promote the development of the offshore Renminbi market in Europe combining each other's strengths in all possible business areas.
Bank of China Limited Announces Resignation of Jiang Yansong as Non-Executive Director
Nov 22 13
Ms. Jiang Yansong resigned as non-executive director of the Bank of China Limited, a member of the strategic development committee, and the vice chairman and a member of the Risk Policy Committee of the board due to her work arrangements. Such resignation became effective on November 20, 2013. Ms. Jiang Yansong has confirmed that she has no disagreement with the board and there are no matters that need to be brought to the attention of the shareholders of the bank.
Yulong Computer Telecommunication Scientific (Shenzhen) Co., Ltd. Enters into Strategic Cooperation Agreement with Bank of China Limited
Nov 5 13
The board of directors of China Wireless Technologies Limited announced that on November 5, 2013, Yulong Computer Telecommunication Scientific (Shenzhen) Co., Ltd. entered into a strategic cooperation agreement with Bank of China Limited. The initial term of the cooperation agreement is three years and shall automatically be renewed to another three years upon expiry for an indefinite number of times until any party serves a termination notice to another within 30 days prior to the expiry. Pursuant to the cooperation agreement, conditional upon compliance with applicable laws and regulations and obtaining internal approvals of BOC, BOC intends to grant a facility up to RMB 8 billion ('Facility') to Yulong Shenzhen. The terms of the facility are subject to the parties' entering into the relevant documentations, though BOC undertakes to offer favorable terms to Yulong Shenzhen as permissible under the applicable laws and regulations. Further, under the cooperation agreement, BOC also agreed to provide other financial services to Yulong Shenzhen, including risk management advisory service, cash management service, corporate finance advisory service and financial and insurance advisory service.
Bank of China Unveils Micro-Bank
Nov 5 13
Bank of China launched a series of products called 'Micro-Bank' on the platform of Wechat and Yixin at the same time. BOC Micro-Bank fully mixes with social media Wechat and Yixin with convenient access, fresh UI design and easy-to-use functions. Users just need to search and "follow" the public account of "BOC Micro-Bank" on Wechat and Yixin to use functions like message push, interaction and financial services. BOC Micro-Bank includes six service modules such as "Micro Customer Service", "Micro Credit", "Micro Financing", "Micro Payment", "Micro Life" and "Micro Shopping", in which the products of "Micro Customer Service", "Little Assistant" and "Golden Idea" have already been put into operation. With advanced artificial intelligent technology, "Micro Customer Service" is capable of automatically identifying keywords input by the user and then matching them with an accurate answer. When customers need to inquire the banking service, the "Micro Customer Service" provides an "easy way". The "Little Assistant" is the "customer manager in your pocket" worthy of its name, providing the customer with ample and convenient financial applications, enabling customers to inquire about the interest rate, foreign exchange rate, deposit earning and loan repayment at anytime and anywhere as well as positioning the location of the customer and looking for nearby banking outlets and self-service banks. Also, customers may easily download other mobile applications of Bank of China with the "Application Square" of the "Little Assistant". The "Golden Idea" can promptly collect suggestions, ideas and requirements of customers so that to make voices of customers reach the bank directly. BOC Micro Bank will continuously enrich user experiences in the next step, launch service modules like "Micro Credit", "Micro Financing", "Micro Payment" and "Micro Shopping", realizing the online application, approval, loan and repayment of micro-credit on mobile phones; 24/7 financing consultation around the clock; balance and detailed bill inquiry; transfer and remittance on the mobile platform. An online mall is planned to be launched as well. The Micro Bank is an important measure of Bank of China in establishing the network bank and focus on mobile finance. Bank of China will further increase its cooperation base on the open platform in the future, continuously improving functions of the micro bank, satisfying customer demands and providing more efficient and faster financial services and experiences with the help of the powerful internet access of social media and extensive customer groups.