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When did Hong Kong Baosheng Bank go out of business? What is the reason for the closure?
It did not go bankrupt, but merged into the Bank of China (HK) Limited.

BOC International was incorporated in Hong Kong on July 1998. Formerly known as China Construction Finance (Hong Kong) Co., Ltd., it was established on July 2006 1979 and incorporated in Hong Kong on September 2006 12, in order to hold all the shares of its main operating subsidiary, Bank of China (Hong Kong). After the successful global public offering, BOC Hong Kong (Holdings) began to list on the main board of the Hong Kong Stock Exchange on July 25th, 2002.

10 Banks include Bank of China Hong Kong Branch, seven branches established in the Mainland (Guangdong Bank, Xinhua Bank, Zhongnan Bank, Jincheng Bank, Guohua Commercial Bank, Zhejiang Industrial Bank and Salt Bank), as well as Overseas Chinese Commercial Bank and Baosheng Bank registered in Hong Kong.

Extended data

Baosheng Bank was originally run by the Chen brothers in Guangdong. Small scale, a rented shop, more than 20 employees, difficult to operate. 1948 65438+In February, the Chen brothers proposed "capital increase and reorganization" to Zhang Xirong, a major customer of the bank and the boss of a Hong Kong-funded company, hoping to continue to operate Baosheng Bank.

At that time, Zhang Xirong was actually the representative of the East China Finance and Economics Committee in Hong Kong and intended to open a bank in Hong Kong. So he immediately agreed to the requirement of becoming a shareholder in Baosheng Bank and personally injected HK$ 400,000 into Baosheng Bank. Zhang xirong was promoted to general manager because of his large share capital. Later, Zhang Xirong introduced a large number of customers to Baosheng Bank, and the bank's operation improved.

1949 In February, Baosheng Bank was reorganized and officially opened to the public at 83 Queen's Road Central, Hong Kong. Baosheng Bank is a member of the standard gold bar group of China Gold and Silver Exchange, and it is qualified to smelt gold bars and deal in gold, platinum and silver. It occupies a very important position in Hong Kong and the international gold market and has the reputation of "gold bank".

At the same time, Baosheng Bank also absorbed foreign exchange and foreign currency deposits, engaged in loan, remittance and insurance agency business, and kept in touch with peers in Shanghai, Guangzhou and other places for a long time, becoming the first financial institution in the industry to connect with the whole country.

Baidu Encyclopedia-Bank of China (HK) Co., Ltd.

Archduke. Com- Zhang Xirong, founder of Hong Kong Baosheng Bank