Sunday, March 8, 2009
BANK OF CHINA OPENED ITS BRANCH IN CALCUTTA IN 1937
MUSHAM BANKNOTES ANCIENTCOINS,STAMPS,POSTALHISTORY MY @ MUSHAM3@GMAIL.COM
BANK OF CHINA OPENED ITS BRANCH IN CALCUTTA IN 1937 CLOSED IN 1941 BUT ITS TRANSACTIONS WERE CONTINUED TILL 1950?
History of BOC's expansion outside (mainland) China
New York branch.
Bank of China building in Singapore.
1917 BOC opened a branch in Hong Kong.
1929 BOC opened its first overseas branch in London. The branch managed the government's foreign debt, became a center
for the bank's management of its foreign exchange, and acted as an intermediary for China's international trade.
1931 BOC opened a branch in Osaka.
1936 BOC opened a branch in Singapore to handle remittances to China of overseas Chinese. It also opened an agency in New
1937 At the outbreak of hostilities with Japan, Japanese forces blockaded China's major ports. BOC opened a number of
branches overseas to facilitate the gathering of remittances and the flow of military supplies. BOC opened branches in
Batavia, Penang, Kuala Lumpur, Haiphong, Hanoi, Rangoon, Bombay, and Calcutta. It also opened sub-agencies in Surabaya,
Medan, Dabo, Xiaobo, Batu Pahat, Baichilu, Mandalay, Lashio, Ipoh, and Seremban.
1941 and 1942 The Japanese conquest of South East Asia forced BOC to close all overseas its branches, agencies, sub-
branches and sub-agencies, except London, New York, Calcutta, and Bombay.
1942 BOC set up six new overseas branches, including those at Sydney, (Australia), Liverpool, and Havana, and possibly
1946 BOC reopened its branches and agencies in Hong Kong, Singapore, Haiphong, Rangoon, Kuala Lumpur, Penang, and
Jakarta. It moved the Hanoi agency to Saigon. At the suggestion of the Allied Forces Headquarters, it liquidated the branch
in Osaka and opened a sub-branch in Tokyo.
1947 BOC opened agencies in Bangkok, Chittagong, and Tokyo.
1950 Some of the branches of Bank of China joined the bank headquartered in Beijing — i.e., Hong Kong, Singapore,
London, Penang, Kuala Lumpur, Jakarta, Calcutta, Bombay, Chittagong, Karachi, and Jakarta — while others — New York, Tokyo,
Havana, Bangkok, and one other, possibly Panama — opted to remain with the Bank of China headquartered in Taipei. In 1971,
this bank took the name International Commercial Bank of China.
1963 The Burmese government nationalized all banks, foreign and domestic, including the Bank of China's Rangoon branch.