Granting of the transfer of banking licence from China Construction Bank to China Construction Bank Corporation

The Hong Kong Monetary Authority announced today (Monday) that it has granted the transfer of the banking licence of China Construction Bank (the "Bank") to China Construction Bank Corporation (CCBC) under the Banking Ordinance. This grant of transfer took effect on 17 September 2004, the date on which the demerger of the Bank into CCBC and CHINA JIANYIN INVESTMENT LIMITED ("JIANYIN") became effective in the Mainland China.

After the demerger, CCBC continues to operate the Bank's commercial banking business including its Hong Kong Branch while JIANYIN succeeds all other business of the Bank. The transfer of the Bank's banking licence to CCBC enables CCBC to continue the existing business of the Hong Kong Branch of the Bank.

Since this only involves the transfer of an existing banking licence, the total number of licensed banks in Hong Kong remains unchanged, currently 133.

For further enquiries, please contact:
Jasmin Fung, Manager (Press), at 2878 8246 or
Kevin Ip, Manager (Press), at 2878 1687

Hong Kong Monetary Authority
20 September 2004