Strategy Of Development Bank Of China In RMB International Background

It is an inevitable developmental trend for the internationalization of RMB as China’s economic strength has been improving continuously in recent years and the speed of RMB internationalizing has been accelerating gradually. The Bank of China, as the most internationalized bank in China, will face some challenges in its business development under the circumstances of the Internationalization of RMB as well as meeting many uncommon development opportunities based on its longtime-lasted advantages of its cross border business. While compared with other large-scale state-owned commercial banks, the BOC is in a relatively inferior position of its domestic business in business scale, organizational distribution and staff quantity. The domestic business of BOC has suffered a lot under the big banks’ pressing and the small as well as medium banks’ pursuing. Meanwhile, nearly all banks, one after another, put the internationalized development in a critical position. Therefore, it is significant for the BOC’s future business development that whether it can maintain the leading position in overseas business. In order to steady and promote the comprehensive competitiveness, the BOC must put the development orientation of its overseas priority into effect and adopt positive measures to keep its dominant position in cross border business.