1980.09.22
BANK OF CHINA
ARTICLES OF ASSOCIATION OF THE BANK OF CHINA
(Approved by the State Council on September 22, 1980)
CONTENTS
CHAPTER I GENERAL PROVISIONS
CHAPTER II CAPITAL
CHAPTER III SCOPE OF BUSINESS
CHAPTER IV ORGANIZATION
CHAPTER V MEETINGS
CHAPTER VI SUPPLEMENTARY PROVISIONS
CHAPTER I GENERAL PROVISIONS
@@ Article 1. The Bank of China is a socialist state enterprise and
is the specialized foreign exchange bank of the People's Republic of
China.
@@ Article 2. The tasks of the Bank of China shall be: to raise,
utilize, accumulate and manage foreign exchange funds, to engage
in all kinds of foreign exchange operations and to participate in
international financial activities for the purpose of serving socialist
modernization.
@@ Article 3. The head office of the Bank of China shall be
established in Beijing. To meet the needs of business, the Bank
may open branches or representative offices at places of
commercial and financial importance both in China and abroad.
CHAPTER II CAPITAL
@@ Article 4. The authorized capital of the Bank of China
shall be Renminbi 1,000 million yuan.
CHAPTER III SCOPE OF BUSINESS
@@ Article 5. The Bank of China shall engage in and be entrusted to
handle the following kinds of business:
(1) International settlements in connection with foreign
trade and non-trade transactions;
(2) International inter-bank deposits and loans;
(3) Overseas Chinese remittances and other international remittances;
(4) Deposits and loans in foreign currencies and, with the
permission of the People's Bank of China, deposits and loans in
Renminbi that relate to foreign exchange operations;
(5) Buying and selling of foreign exchange (including foreign
currencies);
(6) Buying and selling of gold on international markets;
(7) Organizing and participating in international syndicated loans;
(8) Investing by itself or jointly with others in banks, finance
companies and other enterprises in foreign countries and in Hongkong,
Macao and other regions;
(9) Issuing bonds and securities in foreign currencies
with the authorization of the State;
(10) Providing trust and consulting services; and
(11) Engaging in other kinds of banking business permitted or
entrusted by the State.
@@ Article 6. The Bank of China shall participate in
international financial meetings with the authorization of the State.
@@ Article 7. Offices of the Bank of China established in
foreign countries and in Hongkong, Macao and other regions may
engage in all regulations.
CHAPTER IV ORGANIZATION
@@ Article 8. The Bank of China shall have a board of directors
consisting of an honorary chairman, a chairman and a number of
vice-chairmen, managing directors and directors, all to be appointed by
the State Council.
@@ Article 9. The tasks of the board of directors of the Bank of
China shall be as follows:
(1) To consider and determine the business policies and plans of the
Bank;
(2) To receive and examine the reports of the president on the work
of the Bank;
(3) To examine and adopt the Bank's annual financial
statements and proposals for the handling of profits;
(4) To appoint and remove high officials of the Bank;
(5) To consider and determine the opening and closing of branches
of the Bank in China and abroad; and
(6) To examine and discuss other important matters relating to the
Bank.
@@ Article 10. The Bank of China shall have a board of
supervisors consisting of a chief supervisor and a number of
supervisors, all to be appointed by the State Council.
@@ Article 11. The tasks of the board of supervisors of the Bank of
China shall be as follows:
(1) To supervise the Bank's observance of the policies, laws and
decrees of the State as well as the implementation of the Bank's
business policies;
(2) To examine the annual financial statements and reports of the
Bank; and
(3) To investigate matters of a serious nature and present opinions
on ways of dealing with them.
@@ Article 12. The Bank of China shall have a president and a
number of vice-presidents, all to be nominated by the chairman
of the board of directors who shall, with the approval of the board
of directors, submit his nominations to the State Council for
appointments.
@@ Article 13. The president of the Bank of China shall be
responsible for the overall operation and administration of the
Bank and shall submit to the board of directors periodic reports
on the work of the Bank. The vice-presidents shall assist the
president in his work.
CHAPTER V MEETINGS
@@ Article 14. A meeting of the board of directors of the Bank of
China shall be held o [1] [2] 下一页
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