Is Bank of Communications Co Ltd a state owned Bank?
Yes, the Bank of Communications Co., Ltd. is prominently recognized as a major state-owned public sector commercial bank in China. Headquartered in Shanghai, it stands as one of the oldest financial institutions in the country and operates under direct state influence, with a substantial portion of its equity held by the Chinese government through state-owned investment vehicles and central financial administration entities. While it functions as a joint-stock commercial bank and lists its shares publicly on both the Hong Kong and Shanghai stock exchanges, its strategic direction, systemic economic role, and core governance align closely with the national economic priorities and policies dictated by the state.
Related FAQs
The Bank of Communications Co., Ltd. functions as a major, fully operational commercial financial institution and one of the largest state-backed banking enterprises in China.
Bank of Communications was founded in 1908 during the late Qing dynasty in China, originally established with official sanction to manage national railway, postal, telegraph, and tax administration finances.
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The primary head office SWIFT/BIC code for the Bank of Communications in China is COMMCNSHXXX (frequently noted in alternative structural formats like COMMCN3XXXX).
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