Australia
Bank of China
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Finance & Law
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Description
Established in 1942, Bank of China Sydney Branch is the first batch of foreign-funded banks in Australia and holds a comprehensive banking license for public and private parties. Bank of China (Australia) Limited was established in 2005. Since the resumption of business in 1985, the scale of business has developed rapidly and the market influence has continued to expand. At present, ten outlets have been established in five states of New South Wales, Victoria, Queensland, Western Australia and South Australia, becoming the leading institution of Australian RMB business. In November 2014, the People's Bank of China designated Bank of China Sydney Branch as the Sydney RMB clearing bank.
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