Hua Chiao Commercial Bank

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Hua Chiao Commercial Bank
Native name
華僑商業銀行
Industry Banking
Successor Bank of China (Hong Kong) (2001)
Founded1962;57 years ago (1962)
Headquarters
Parent Bank of China Group (1965 - 2001)
Hua Chiao Commercial Bank
Traditional Chinese 華僑商業銀行

Hua Chiao Commercial Bank (Chinese :華僑商業銀行) was a bank in Hong Kong. It was established in Hong Kong in 1962 by several Indonesian Chinese. After 1965, it became a member of Bank of China Group. It was involved in remittance and deposit account businesses, but it switched to export and import trading loan, international settlement after the 1970s. [1] In 2001, it was merged to form Bank of China (Hong Kong). [2]

Traditional Chinese characters Traditional Chinese characters

Traditional Chinese characters are Chinese characters in any character set that does not contain newly created characters or character substitutions performed after 1946. They are most commonly the characters in the standardized character sets of Taiwan, of Hong Kong and Macau, and in the Kangxi Dictionary. The modern shapes of traditional Chinese characters first appeared with the emergence of the clerical script during the Han Dynasty, and have been more or less stable since the 5th century.

Bank financial institution

A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.

Hong Kong East Asian city

Hong Kong, officially the Hong Kong Special Administrative Region of the People's Republic of China and commonly abbreviated as HK, is a special administrative region on the eastern side of the Pearl River estuary in southern China. With over 7.4 million people of various nationalities in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is the world's fourth most densely populated region.

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