What is Bank of Communications?

The Bank of Communications was founded in 1908 (the 34th year of the reign of Emperor Guangxu). It was one of the four early banks in China and one of the early note-issuing banks in China. On July 24, 1986, as a pilot project for financial reform, the State Council approved the reorganization of Bank of Communications. On April 1, 1987, the reorganized Bank of Communications officially opened for business and became China's first national state-owned joint-stock commercial bank. It is now one of the five largest state-owned commercial banks in China.