not allow mergers via the pooling of interests, a common procedure in the United States. The Bank of China (Hong Kong) Limited (Merger) Ordinance was approved by the Legislative Council of Hong Kong on 12 July 2001, and the merger was completed on 1 October 2001.

Corporate structure and BOC Hong Kong Holdings

BOCHK is listed under the name of BOC Hong Kong (Holdings) Limited (BOCHK Holdings), a holding company whose principal, 100% owned subsidiary is BOCHK. The holding company is listed on the Stock Exchange of Hong Kong and as ADRs in the US under the symbol BHKLY. BOCHK Holdings is a constituent of the Hang Seng Index. The listing of BOCHK Holdings in July 2002 listing was the first international stock listing by a Mainland China bank; untilthat time, other Mainland Chinese bank listings were done in the domestic "A-share" market.

For the 12 months ended 31 December 2003, BOCHK Holdings earned HK$11.6 billion in operating income and HK$8.0 billion in net profit. As of 7 June 2006, 65.805% of BOCHK Holdings is held by Bank of China, in turn 69.265% owned by Central Huijin Investment, an investment holding company 100% owned by the Government of the People's Republic of China.

Operations

BOCHK offers a comprehensive range of financial products and services to retail and corporate customers, similar to those offered by most commercial banks. It is primarily known for its interest-income business (taking deposits from retail customers for loans to corporates) although it has been moving into other non-interest-income areas such as personal loans, wealth management and