China Construction Bank

     China Construction Bank Corporation (CCB; simplified Chinese: 中国建设银行; traditional Chinese: 中國建設銀行; pinyin: Zhōngguó Jiànshè Yínháng; often abbreviated as 建行; SSE: 601939, SEHK: 0939, OTC Pink: CICHY) is one of the "big four" banks in the People's Republic of China. In 2015 CCB was the 2nd largest bank in the world by market capitalization and 6th largest company in the world. The bank has approximately 13,629 domestic branches. In addition, it maintains overseas branches in Frankfurt, Luxembourg, Hong Kong, Johannesburg, New York, Seoul, Singapore, Tokyo, Melbourne, Sydney and Auckland, and a wholly owned subsidiary in London. Its total assets reached CN¥ 8.7 trillion in 2009. Its headquarters is in Xicheng District, Beijing.

Contents

    1 History
    2 Investment by Bank of America
    3 International expansion
    4 Health fund
    5 Stock exchange listing
    6 See also
    7 References
    8 External links

History
China Construction Bank, Beijing
China Construction Bank, Hong Kong
China Construction Bank, Shenyang

CCB was founded on 1 October 1954 under the name of People's Construction Bank of China (Chinese: 中国人民建设银行; pinyin: Zhōngguó Rénmín Jiànshè Yínháng), and later changed to China Construction Bank on 26 March 1996.

In January 2002, CCB Chairman Wang Xuebing resigned from the bank after being charged with accepting bribes while he was employed with Bank of China; he was sentenced to 12 years in prison. In March 2005, his successor, Zhang Enzhao, resigned for "personal reasons". Just prior to his resignation, he had been charged in a lawsuit with accepting a US$1 million bribe. He was later sentenced to 15 years in jail in connection with the case.

China Construction Bank Corporation was formed as a joint-stock commercial bank in September 2004 as a result of a separation procedure undertaken by its predecessor, China Construction Bank, under the PRC Company Law. Following the China Banking Regulatory Committee's approval on 14 September 2004, the next day the bank (Jianyin) became a separate legal entity, owned by the Chinese government holding company, Central Huijin Investment Company or simply Huijin.

During the 2013 Korean crisis, the China Construction Bank halted business with a North Korean bank accused by the United States of financing Pyongyang's missile and nuclear programs.

In 2014, China Construction Bank ranks the 2nd in Forbes’ 11th annual Global 2000 ranking of the biggest, most powerful and most valuable companies in the world.