China Construction Bank Corporation
What is the China Construction Bank Corporation?
China Construction Bank (CCB) is one of the 'big fou'r banks in China and on of the biggest banks in the world. Founded in 1954, it has its headquarters in Beijing, with branches dotted all around China. It also has sites in London, Sydney, Seoul, Frankfurt, New York and Luxembourg.
Where have you heard about the China Construction Bank Corporation?
It probably hasn’t escaped your notice that China has emerged as a global economic superpower in recent years. As of 2016, the CCB was ranked by Forbes as the second biggest public company in the world.
What you need to know about the China Construction Bank Corporation.
The CCB, which in 1996 changed its name from the People’s Construction Bank of China, has around 14,000 branches worldwide, providing both corporate and retail banking services.
In 2005, Bank of America obtained a 9% stake in the bank, aiding its already rapid growth. The Luxembourg branch, opened in 2013, acts as the bank’s European headquarters and in 2015, the CCB became a member of the London Stock Exchange.
Although China’s banking system now operates more like Western banks, it’s still under the strict control of the Chinese government.