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Articles of Association of the Bank of China

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  1980.09.22
BANK OF CHINA
ARTICLES OF ASSOCIATION OF THE BANK OF CHINA
(Approved by the State Council on September 22, 1980)
CONTENTS
CHAPTER I GENERAL PROVISIONS
CHAPTER II CAPITAL
CHAPTER III SCOPE OF BUSINESS
CHAPTER IV ORGANIZATION
CHAPTER V MEETINGS
CHAPTER VI SUPPLEMENTARY PROVISIONS
CHAPTER I GENERAL PROVISIONS
 @@  Article 1. The Bank of China is a socialist state enterprise and
is the specialized foreign exchange bank of the People's Republic of
China.
 @@  Article  2.  The tasks of the Bank of China shall be: to raise,
utilize, accumulate  and  manage foreign exchange funds, to engage
in all kinds of foreign exchange operations and to participate in
international financial activities for the purpose of serving socialist
modernization.
 @@  Article  3. The head office of the Bank of China shall be
established in Beijing. To meet the needs of business, the Bank
may  open  branches  or  representative  offices  at  places  of
commercial and financial importance both in China and abroad.
CHAPTER II CAPITAL
 @@  Article  4.  The authorized capital of the Bank of China
shall be Renminbi 1,000 million yuan.
CHAPTER III SCOPE OF BUSINESS
 @@  Article 5. The Bank of China shall engage in and be entrusted to
handle the following kinds of business:
 (1)  International  settlements  in  connection  with  foreign
trade and non-trade transactions;
(2) International inter-bank deposits and loans;
(3) Overseas Chinese remittances and other international remittances;
 (4)  Deposits  and  loans  in foreign currencies and, with the
permission of the  People's  Bank  of China, deposits and loans in
Renminbi that relate to foreign exchange operations;
  (5) Buying and selling of foreign exchange (including foreign
currencies);
(6) Buying and selling of gold on international markets;
(7) Organizing and participating in international syndicated loans;
 (8)  Investing  by itself or jointly with others in banks, finance
companies and  other enterprises in foreign countries and in Hongkong,
Macao and other regions;
 (9)  Issuing  bonds  and  securities  in foreign currencies
with the authorization of the State;
(10) Providing trust and consulting services; and
 (11)  Engaging  in other kinds of banking business permitted or
entrusted by the State.
 @@  Article  6.  The  Bank  of  China  shall  participate  in
international financial meetings with the authorization of the State.
 @@  Article  7.  Offices of the Bank of China established in
foreign countries  and in Hongkong, Macao and other regions may
engage in all regulations.
CHAPTER IV ORGANIZATION
 @@  Article  8. The Bank of China shall have a board of directors
consisting of  an honorary chairman, a chairman and a num

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