Hua Chiao Commercial Bank
Encyclopedia
Hua Chiao Commercial Bank 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 used to involving remittance and deposit account
businesses, but it switched to engage in export
and import
trading
loan
, international settlement
after 1970s
. In 2001, it was merged to form Bank of China (Hong Kong)
.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
in Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
. It was established in Hong Kong in 1962 by several Indonesian Chinese. After 1965, it became a member of Bank of China Group
Bank of China Group
Bank of China Group was the brand used to denote 13 banks that were almost entirely owned by the Chinese government that operated in Hong Kong, until their merger in 2001 to form Bank of China . The exception was the Hong Kong branch of the Bank of Communications, which left BOCG in 1998...
. It used to involving remittance and deposit account
Deposit account
A deposit account is a current account, savings account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder. These transactions are recorded on the bank's books, and the resulting balance is recorded as a liability for the...
businesses, but it switched to engage in export
Export
The term export is derived from the conceptual meaning as to ship the goods and services out of the port of a country. The seller of such goods and services is referred to as an "exporter" who is based in the country of export whereas the overseas based buyer is referred to as an "importer"...
and import
Import
The term import is derived from the conceptual meaning as to bring in the goods and services into the port of a country. The buyer of such goods and services is referred to an "importer" who is based in the country of import whereas the overseas based seller is referred to as an "exporter". Thus...
trading
International trade
International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product...
loan
Loan
A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower....
, international settlement
Settlement (finance)
Settlement of securities is a business process whereby securities or interests in securities are delivered, usually against payment of money, to fulfill contractual obligations, such as those arising under securities trades....
after 1970s
1970s
File:1970s decade montage.png|From left, clockwise: US President Richard Nixon doing the V for Victory sign after his resignation from office after the Watergate scandal in 1974; Refugees aboard a US naval boat after the Fall of Saigon, leading to the end of the Vietnam War in 1975; The 1973 oil...
. In 2001, it was merged to form Bank of China (Hong Kong)
Bank of China (Hong Kong)
Bank of China Limited is the second-largest commercial banking group in Hong Kong in terms of assets and customer deposits, with more than 300 branches in Hong Kong. It was established on 1 October 2001 from a merger of 12 subsidiaries and associates of the Bank of China in Hong Kong, and listed...
.