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BOC Group's Restructuring Plan Approved
After the restructuring plan of the Bank of China (BOC) Group has been approved by the People's Bank of China (PBOC), it also got the reply of "no objection in principle" from the Hong Kong Monetary Authority, Liu Jinbao, director of Hong Kong and Macao Administrative Office of BOC, said on a joint financial report meeting held in Hong Kong.
According to China Economic Times, the major content of the restructuring plan of BOC Group is to merge all the assets and liabilities of ten banks under the BOC Group to form a large bank registered in Hong Kong, and inject the rights and interests of two other Hong Kong-registered banks held by BOC into the bank.
Source: Panorama
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