We Mainland, the influence upon foreign countries, Corporate

We
are now living in the century where world situation is rapidly transforming.

Companies and banks in our society must overcome and deal with this change and renovation.

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The topic that this paper is going to examine through is about a bank called ‘Bank
of China’. To give this bank a brief description, according to the official
website of Bank of China, the bank is one of the state-owned banks, as well as belonging
in the top 20 of the principal banks in the world. In recent years, Bank of
China opened up countless branches not only in Mainland but also in European
countries as well. In the period of 2017, Bank of China had attained an
approval to launch up the deposit bank in Turkey. In addition, Bank of China had
already established the branch in Brunei as well as involving into London
Bullion Market Association. So, in total, the number of branches inside of
Mainland is about 9,988 branches, and 973 branches are located outside of China
among more than 29 foreign countries (Bank of China Overview, 2017).

Approximate values that Bank of China has on its asset sums up to 6,951.68
billion RMB, which represent that the bank has its authoritative influence
within the nation. To categorize this bank, Bank of China is divided into five
different groups: Band of China international holdings limited, Bank of China
group insurance company limited, Bank of China group investment company limited,
Bank of China group investment management limited, and Bank of China aviation
limited (Bank of China Overview, 2017). By dividing into five large groups,
Bank of China not only has its dominance over the finance system in Mainland,
but also on the other categories as well. In order to more specifically scrutinize
Bank of China, this paper is will investigate upon four different aspects of
the Bank including the valuation of the bank at the end: the history of Bank of
China, progression and development of the bank inside Mainland, the influence
upon foreign countries, Corporate Social Responsibilities, and valuation for
Bank of China. Step by step, this paper will analyze from how Bank of China
first became established into how Bank of China has renovated into the society
of 21st century that we are living currently.

            The very first chapter of this paper
is going to glance upon the history of Bank of China. The history traces back
to the early 1900s, after Qing dynasty eventually collapsed. By the historical
period of 1911, Republic of China was established by Tongmenhui. During Qing dynasty
period, there was a bank called ‘Daqing Bank’. After Tongmenhui seized the
political power, instead of demolishing the Daqing Bank, they changed the name
of Daqing Bank into ‘Bank of China’ (Mickey, 2013). The main reason Tongmenhui
allowed the existence of the Bank was that they assumed Bank of China would
rather activate and enhance the modern Chinese financial system. The first
appearance of the bank that we are now discussing was formed in February 14th
1912, within the approval of Dr. Sun Yat Sen, the representative of Tongmenhui.

The first leaders of Bank of China were Wang Kemin and Zhang Ji’ao, in which
they focused primarily on the enlargement of shareholders of Bank of China (The
Republic of China, 2017). Right after the establishment of the Bank of China,
Chinese ministry of finance declared to the world that Bank of China is now the
central bank in China. As a result, the bank grew rapidly, as well as becoming
one of the most enormous banks in Mainland. In 1929, the very first foreign
branch was founded in London. By the age of 1940, Bank of China had founded
more than 30 foreign branches. Eventually, during the historical era of 1994,
Bank of China became one of the state-owned banks in Mainland (The Republic of
China, 2017). Compared to the chaotic period in China during the early 1900s,
Bank of China itself not only functioned well, but also developed its influence
around Mainland and foreign regions as well. The very next paragraph will
switch the attention on to the advancement of Bank of China inside of Mainland.

            The following chapter will peek into how Bank of China had
developed within its nation. In the case Bank of China, the bank provided
diversified kinds of funds and services to Chinese peasants and workers in the
1900s. However, Bank of China once confronted with difficulties during the
Maoist movement. After Mao Zedong seized the governmental power and claimed China
as ‘People’s Republic of China’ in Tiananmen Square on October 1st
1949, Mao Zedong operated a closed-door policy. Because of that, each and every
foreign banks that were located in China had no choice but to leave from
Mainland. However, even during Mao’s rule, Bank of China actively rolled as a
foreign interchange procedure (The Republic of China, 2017). Not only those
endeavors from Bank of China, but also Bank of China was able to generate the
first credit card in Asia, so called the ‘Great Wall Credit Card’. The main
functions of the credit card made by Bank of China was interest reduced assets.

Moreover, the Great Wall Credit Card provided the card holders the multiple
repayment methods as well. As mentioned above, the branches of Bank of China in
21st century is more than 9,000 (Great Wall, 2017). It