Bank of China Opens Olympic Temporary Account for Overseas Institution

As Official Banking Partner of the Beijing 2008 Olympic Games, Bank of China attaches great importance to development and innovation of Olympic-related financial products and services. In order to provide high-quality and efficient financial services for such Olympic participants as International Olympic Committee, National or Regional Olympic Committees, foreign media and sponsors, sports organizations and other overseas institutions (hereinafter collectively referred to as overseas institutions), Bank of China, in joint efforts with BOCOG, framed out A Guide to the Overseas Institutions Opening RMB Temporary Deposit Accounts during the Beijing 2008 Olympic Games (Chinese and English versions) and A Guide to Olympic Temporary Foreign Exchange Account (Chinese and English versions), which were recently approved by the People s Bank of China and the State Administration of Foreign Exchange. Thus Bank of China becomes the only financial institution authorized to open Olympic Temporary Account for overseas institutions. At this moment, Bank of China has submitted the Guide to BOCOG and released the Guide on its own website: www.boc.cn. The overseas institutions can visit the website to inquire and download policy and procedure related to Olympic Temporary Account. Altogether 28 BOC outlets in host and co-host cities are designated to provide Olympic Temporary Account services, which have trained their staff on Olympic Temporary Account operation, on-line banking and personal banking, and assigned account manager for this business.

In the future, Bank of China will continue to strive for further improvement of service level, product innovation and service management, in the aim of delivering world-class financial services for the Beijing Olympic Games and Paralympic Games.