OREANDA-NEWS. April 18, 2013. Bank of China Chicago Branch held an opening ceremony. This is the fourth branch established in the United States following New York branch, New York ChinaTown branch, and Los Angeles Branch. Over 260 attendees including Yue Yi, Vice Executive President of BOC, Zhao Weiping, Consul General of the Chinese Consulate in Chicago, Zhang Shenghui, Chief Representative of the People's Bank of China in Americas, as well as representatives from the local government, financial sector, and persons in charge of the Chinese-funded organizations were present at the opening ceremony.

The Branch is located in the central business district of the City of Chicago, with overall business territory covering over 17 states surrounding Illinois. The main business will cover corporate liquidity loans, supply chain financing, trade financing, trade settlement, commercial real estate collateral, cash management, foreign exchange, foreign exchange derivatives and so on.

BOC entered the U.S. market in 1981, and is a Chinese-funded bank with the longest history, the largest scale and the most comprehensive business in the United States. Chicago Branch was approved by the Federal Reserve in May 2012 and received its business license on December 27, 2012. After the establishment of the branch, BOC will have its footprint extending to the U.S. Midwest region which has with a high trade volume with China. Together with branches established in New York on the U.S. East Coast, and California on the West Coast, BOC’s business network in the U.S. will cover both eastern and western markets. Its financial service capabilities will be significantly enhanced.

BOC is a Chinese-funded commercial bank with the highest degree of internationalization, which has established overseas institutions in Hong Kong, Macao and Taiwan as well as 36 countries. It can provide financial services in Oman, Peru, Ghana, Turkey, Uganda, and Finland and other countries via respective special counters dealing with businesses related to China. It forged agency partnerships with over 1,600 foreign banks of nearly 180 countries and regions.

The City of Chicago is located in the State of Illinois in north-central United States, with a population of 2.84 million. The city is the largest cosmopolitan in central U.S. and home to the busiest air traffic system in North America with the world's fifth largest intermodal container port. This is where more than 1,500 multinationals and 20 large Chinese-funded “Go Global” enterprises do their businesses.