中国银行股份有限公司2006年半年度报告
目录 
重要提示 
财务概要 
董事长致辞 
行长致辞 
管理层讨论与分析 
经济、金融和监管环境 
财务报表分析 
地区分部报告 
业务回顾 
风险管理 
公司基本情况 
董事、监事、高级管理人员和员工情况 
公司治理 
重要事项 
简要会计报表及审阅报告（未经审计） 

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重要提示 
公司董事会、监事会及董事、监事、高级管理人员保证本报告所载资料不存在任何虚 
假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 
带责任。 
公司董事会会议于 2006 年 8 月 29 日审议通过了公司《2006 年半年度报告》正文及 
摘要。会议应到董事 16 名，实际到会董事 16 名。 16 名行使表决权，公司 5 名监事列 
席了本次会议。 
公司 2006 半年度中国会计准则和国际财务报告准则会计报表已经普华永道中天会计 
师事务所及罗宾咸永道会计师事务所分别根据国内和国际审阅准则审阅。 
中国银行股份有限公司董事会 
公司董事长肖钢、行长李礼辉、主管会计工作副行长周载群及会计机构负责人刘燕芬，保 
证半年度报告中财务报告的真实、完整。
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财务概要（本报告按中国企业会计准则及《金融企业会计制度》之要求编制） 
单位：百万元人民币 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
2004 年 
12 月 31 日 
2006 年 6 月 30 日比年 
初增减 
总资产 5,226,933 4,742,806 4,270,443 10.21% 
其中：贷款净额 2,317,408 2,151,893 2,071,693 7.69% 
总负债 4,840,480 4,480,186 4,037,705 8.04% 
其中：客户存款 4,053,024 3,703,777 3,342,477 9.43% 
本行股东应享有权益总额 357,641 233,842 205,351 52.94% 
每股净资产(元) 1.41 1.12 1.10 25.89% 
调整后每股净资产(元)1 1.40 1.11 1.09 26.13% 
2006 年 
1 - 6 月 
2005 年 
1 - 6 月 
2005 年 
1 - 12 月 
2006 年 1-6 月比上年 
同期增减 
营业利润 38,422 33,009 64,744 16.40% 
利润总额 34,013 29,578 55,140 14.99% 
净利润 19,024 16,434 27,492 15.76% 
扣除非经常性损益后净利润 18,314 na 26,174 na 
每股收益2(全面摊薄,元) 0.07 0.09 0.13 (22.22%) 
每股收益 2、3(加权平均,元) 0.09 0.09 0.15 0.00% 
经营活动中产生的现金流量净额 (117,991) 21,615 13,883 (645.88%) 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
2004 年 
12 月 31 日 
2006 年 6 月 30 日 
比年初增减 
(单位：百分点) 
总资产净回报率(年率) 0.87% 0.72% 0.61% 0.15 
股本净回报率4(年率，不含少数股东权益) 12.87% 12.52% 10.23% 0.35 
股本净回报率 (年率，含少数股东权益) 13.34% 13.16% 10.92% 0.18 
净资产收益率 2(年率,全面摊薄) 10.64% 11.76% 10.19% (1.12) 
净资产收益率 2(年率,加权平均) 14.99% 12.62% 10.04% 2.37 
信贷成本（年率） 0.44% 0.50% 1.06% (0.06) 
不良贷款比率 4.19% 4.62% 5.12% (0.43) 
资本充足率 12. 40% 10.42% 10.04% 1.98 
拨备覆盖率 87.44% 80.55% 68.02% 6.89 
2006 年 
1 - 6 月 
2005 年 
1 - 6 月 
2005 年 
1 - 12 月 
2006 年 1-6 月 
比上年同期增减 
(单位：百分点) 
成本收入比 35.90% 37.05% 39.30% (1.15) 
非利息收入占比 15.67% 14.15% 13.46% 1.52 
净息差 2.26% 2.31% 2.32% (0.05) 
1 根据《公开发行证券的公司信息披露内容与格式准则第 3 号——半年度报告的内容与格式(2003 年修订)》（证监公司 
字［2003］25 号）的规定计算。 
2 根据中国证券业监督管理委员会《公开发行证券公司信息披露编报规则（第 9 号）——净资产收益率和每股收益的计 
算及披露》的规定计算。 
3 股本和净资产的加权平均值采用按日加权的方式计算。 
4 根据《国有商业银行公司治理及相关监管指引》（银监发[2006]22 号）的规定计算。 
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董事长致辞 
固本强基 蓄势谋发 
2006 年必将是中国银行历史上浓墨重彩的一个篇章。在这一年，中国银行成为第一家 
在国际国内资本市场成功发行上市的银行，为建设成为国际一流大银行的发展目标奠定了 
坚实的基础。在此，我非常高兴地向关注中国银行的社会各界和广大投资者报告本行 2006 
年上半年所取得的经营业绩。截至 2006 年 6 月 30 日，中国银行实现营业利润 384.22 亿 
元人民币，净利润 190.24 亿元人民币，同比分别增长 16.40%和 15.76%。总资产净回报 
率（roaa）折合年率为 0.87%，股本净回报率（roae）折合年率为 12.87%，分别比 2005 
年末增加 0.15 和 0.35 个百分点。 
良好的经营业绩是本行近两年来与时俱进、改革创新的成果。2004 年，本行圆满完成 
财务重组；2005 年，成功引进战略投资者。2006 年 6 月 1 日和 7 月 5 日，本行股票先后 
在香港联合证券交易所和上海证券交易所挂牌交易，在中国银行业中首次获得了在国际和 
国内资本市场同时发行上市的成功。本行 h 股发行募集资金 860 亿港元，创造了全球金融 
机构首次公开发行（ipo）筹资额的最新纪录，成为近 6 年来全球最大的招股活动。a 股发 
行筹集资金 200 亿人民币，是迄今为止 a 股市场最大的首次公开发行（ipo）项目。此举 
进一步扩大了本行在国际市场和国内市场的影响力，为中国银行的百年品牌再添风采。 
成功发行上市是中国银行改革发展历程中新的起点和新的动力，为本行的可持续发展 
提供了历史性机遇，打造了更新更高的上升平台。上市提高了资本实力和资本充足率，提 
升了中国银行的品牌价值和市场声誉，推动本行进一步深化改革、完善公司治理。上市必 
将在价值观念、发展战略、组织架构、业务流程、员工素质、管理行为等方面带来巨大而 
深刻的变化，推动本行持续变革并加快变革，彻底转换经营管理机制，提高经营管理水平。 
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同时，我们深刻认识到，上市后中国银行将面临前所未有的挑战和考验。我们要接受 
多方面的金融监管，包括银行业和证券业的双重监管；接受更严格的市场约束；创造更高 
的价值回报。为此，本行承诺将严格遵循相关法律、法规的规范和制约，确保信息披露的 
真实、准确、完整、及时，增强透明度，培育和增强核心竞争力，努力实现价值最大化。 
2006 年下半年，我国经济预计将继续保持较快的健康增长态势，宏观调控措施的成效 
将进一步显现。中国银行将密切跟踪宏观经济走势，抓住机遇，稳健发展，关注风险，创 
造佳绩。我们将继续完善公司治理机制，始终秉承“以客户为中心、以市场为导向”的理念， 
始终关注未来的盈利空间及持续增长能力，持续地为股东创造价值。我们将研究建立以公 
司业务、个人金融及资金业务为主的战略业务单元，加强业务的条线管理，逐步建立国际 
化大银行普遍采用的矩阵式管理模型。继续推进 it 蓝图实施，尽快实现业务操作的逻辑集 
中，统一数据标准与操作规范，达到集中核算和信息共享，为全面增强竞争能力和盈利能 
力、全面提升内部管理与控制水平构建强大的信息基础平台。加强企业文化建设，营造诚 
实守信、绩效优先、以人为本、尽职尽责、追求卓越的工作氛围，用共同的价值观念与行 
为规范凝聚全体员工的智慧与力量，为中国银行的发展提供持久的精神动力。 
最后，我要感谢关心和支持中国银行的海内外广大客户、股东、同业和社会各界朋友， 
并希望未来继续得到大家的关注。我要感谢中国银行董事会、监事会及管理层所有成员， 
感谢你们的努力和智慧。我还要感谢中国银行全体员工，感谢你们一如既往的积极工作和 
辛勤奉献。 
肖钢 
董事长 
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行长致辞 
2006 年，我行在国际国内资本市场成功发行上市，中国银行百年品牌得到市场认同， 
在此，我代表管理层衷心感谢投资者和社会各界的信任与支持！ 
2006 年上半年，世界经济和中国经济快速增长。中国银行与国际国内同业一起分享经 
济成长带来的机会和成就。与此同时，我们十分关注国际国内市场波动和宏观调控带来的 
挑战，加强风险管理，保持业务的持续健康发展。 
在董事会的领导下，管理层认真贯彻实施发展战略，各项工作进展顺利，经营业绩良 
好。按中国会计准则计算，2006 年 6 月末，集团资产总额 52,269.33 亿元人民币，负债总 
额 48,404.80 亿元人民币，所有者权益 3,576.41 亿元人民币，分别比上年末增长 10.21%、 
8.04%和 52.94%。实现税前利润 340.13 亿元人民币、净利润 190.24 亿元人民币，比上年 
同期分别增长 14.99%和 15.76%。 
上半年利润增长主要驱动因素是净利息收入和非利息收入增加，信贷成本和营运成本 
得到有效控制。 
集团客户存款比上年末增长 9.4%，贷款增长 7.7%，证券投资增长 19.1%。净利息收 
入同比增长 12.0%。 
境内业务的税前利润同比增长 10.5%，对集团税前利润的贡献度由 2005 年年末的 
59.4%提高到 2006 年 上半年的 63.1%；投资银行、保险业务等多元化经营板块的税前利 
润同比增长 145.7%，贡献度由 2005 年年末的 3.2%提高到 2006 年 上半年的 6.6%；商业 
银行业务仍然是核心业务，税前利润增长达到 10.8%。 
非利息收入占营业收入的比重由上年同期的 14.2%提高到 15.7%，增长 26.2%，其中 
净手续费和佣金收入增长 51.4%。 
信贷业务平稳增长，集团贷款增长 7.7%，其中，境内贷款业务增长 9.6%，人民币贷
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款业务增长 11.2%。风险管理制度运行良好，信贷资产质量提高，关注类贷款比率由 12.7% 
降低到 10.9%，减值贷款比率由上年末的 4.90%降低到 4.40%，拨备覆盖率由 80.6%提高 
到 87.4%。 
营业收入的增长幅度高于总营业费用的增长幅度，成本收入比由 37.05%下降到 
35.9%。有效税率由 36.7%降低到 36.3%。 
管理层深知，成功上市意味着中国银行历经百年，再启新篇。我们将始终保持冷静和 
清醒，坚持稳健经营的方针，积极拓展业务。我们将加快创新，不断提高服务质量，培育 
核心竞争力。我们将继续加强风险管理和内部控制，有效控制成本，切实防范案件和事故。 
我们将继续推进组织架构改革和流程整合，加快实施 it 蓝图，提高集约化、集中化程度。 
我们将继续推进人力资源管理改革，完善激励机制，推进以诚信、绩效、责任、和谐、卓 
越为核心价值观的企业文化建设，加强培训，提升员工素质。 
李礼辉 
行长 
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管理层讨论与分析 
经济、金融和监管环境 
2006 年上半年，世界经济增长强劲，国际货币基金组织上调 2006 年全球增长预期至 
4.9%，这将是连续第 4 年维持在 4%以上。中国经济继续保持平稳快速增长的态势，上半 
年国内生产总值 91,433 亿元人民币，同比增长 10.9%。物价保持稳定，1-6 月居民消费价 
格总水平同比上涨 1.3%；投资和出口的增长尤其强劲，消费则继续稳中有升。上半年中国 
进出口总额增长 23.4%，增速比去年同期加快 0.2 个百分点，实现贸易顺差 614 亿美元。 
宏观调控力度加大，经济中过热因素有望得到遏止。社会消费品零售总额同比增长 13.3%， 
扣除价格因素，实际增长 12.4%，增速比去年同期加快 0.4 个百分点。中国经济“高增长、 
低通胀”的格局继续保持。 
2006 年上半年，中国金融市场运行平稳，货币信贷增加较多，货币供应持续加快，金 
融创新活跃，人民币市场利率平稳，汇率保持稳定。截至 6 月末，人民币对美元累计升值 
0.94%；全部金融机构本外币贷款余额为 22.79 万亿元人民币，同比增长 14.34%，存款余 
额同比增长 17.19%。 
2006 年是中国加入世界贸易组织的第五年，年底金融业将履行全面对外开放的承诺， 
国内外金融机构竞争日趋激烈。 
2006 年上半年，中国银行业监督管理委员会（简称“银监会”）出台了一系列新的监 
管政策，包括统一商业银行监管评级、推动公司治理和自主创新、批准开办代客境外理财 
业务、加强外汇风险监管和贷款投向指导等等，对银行业的盈利性及经营管理将产生重要 
影响。 
经济、金融和监管环境的变化对商业银行的经营管理提出了更高要求。 

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我们的目标 2006 年中国银行坚定地推进和深化各项改革，在积极把握住经济增长带来的 
发展机遇的同时，切实防范经济运行中深层次矛盾可能引发的金融风险；加快风险管理和 
内控体系建设，整合管理流程和业务流程，加快信息科技蓝图建设，着力提升经营管理水 
平；增强自主创新能力，加快产品创新和服务创新，着力提升核心竞争力；保持全面、协 
调、可持续发展，实现股东、银行、客户和员工的价值提升。 
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财务报表分析 
概述 
2006 年 6 月末，中国银行股份有限公司（以下简称“本行”）及其子公司（以下简称“集 
团”）资产总额为 52,269.33 亿元人民币，较上年末增长 4,841.27 亿元人民币，增幅 10.21%； 
负债总额为 48,404.80 亿元人民币，较上年末增长 3,602.94 亿元人民币，增幅 8.04%；股东 
权益总额（不含少数股东权益）为 3,576.41 亿元人民币，较上年末增长 1,237.99 亿元人民 
币，增幅 52.94%。 
2006 年上半年，集团实现净利润 190.24 亿元人民币，同比增长 25.9 亿元人民币，增幅 
15.76%。集团整体财务运行状况良好。 
利润表项目分析 
单位：百万元人民币 
项目 2006 年 1-6 月 2005 年 1-6 月 2005 年 1-12 月 
净利息收入 54,476 48,658 100,405 
非利息收入 10,126 8,021 15,623 
业务及管理费 (23,193) (21,000) (45,604) 
营业税金及附加 (2,987) (2,670) (5,680) 
营业利润 38,422 33,009 64,744 
营业外收支净额 467 1,145 1,381 
扣除资产减值损失前利润总额 38,889 34,154 66,125 
减：资产减值损失 (4,876) (4,576) (10,985) 
税前利润总额 34,013 29,578 55,140 
减：所得税 (12,362) (10,860) (22,543) 
减：少数股东应享本年利润 (2,627) (2,284) (5,105) 
净利润 19,024 16,434 27,492 

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按中国证监会发布的《公开发行证券公司信息披露编报规则》第 9 号的要求计 
算的净资产收益率及每股收益 
净资产收益率(%) 每股收益(元) 
项 目 报告期利润 
（百万元人民币） 全面 
摊薄 
加权 
平均 
全面 
摊薄 
加权 
平均 
主营业务利润 38,422 21.49% 30.27% 0.15 0.18 
营业利润 38,422 21.49% 30.27% 0.15 0.18 
净利润 19,024 10.64% 14.99% 0.07 0.09 
扣除非经常性损益后的净利润 18,314 10.24% 14.43% 0.07 0.08 
国内外审计重要财务数据及差异 
单位：百万元人民币 
净资产 净利润 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
2006 年 
1-6 月 
2005 年 
1-6 月 
按中国会计准则呈报 357,641 233,842 19,024 16,434 
会计准则差异调整项目 
— 冲回资产评估增值及其相关的折旧费用 (7,794) (7,999) 205 133 
— 投资物业以公允价值计量 3,199 2,816 438 1,059 
— 权益性投资分类为可供出售证券以公允价值计量 3,566 1,775 - - 
— 计提内退员工内退期间的工资及福利义务 (4,911) (5,097) 186 (1,749) 
— 对非交易性贵金属按成本法计量 (757) (637) (120) (83) 
— 递延所得税影响 4,222 992 (97) (97) 
— 以上事项对少数股东权益的影响及其他 581 727 (159) (516) 
小计 (1,894) (7,423) 453 (1,253) 
按国际财务报告准则呈报 355,747 226,419 19,477 15,181 
会计准则差异说明详见会计报表及审阅内容附件二 4.中国会计准则与国际财务报告准则会计报表差异说明. 
非经常性损益项目 
单位：百万元人民币 
项目 余额 
处置长期股权投资净收益 141 
营业外收入 1,111 
营业外支出 (644) 
以前年度已经计提各项减值准备的转回 451 
相应税项调整 (349) 
合计 710 
13 
参股公司经营情况 
2006 年 1-6 月份 2005 年 1-6 月份 
参股公司名称 中银香港（控股）有限公司 
参股公司上市地点及代码 香港· 2388 
参股公司经营范围 
中银香港（控股）有限公司是一家投资控股公司，其附属公司中国 
银行（香港）有限公司（简称“中银香港”）主要于香港从事提供 
银行及相关金融服务 
参股公司净利润 （扣除少数股东损益后） 45.70亿元人民币 39.93亿元人民币 
参股公司当期净利润 
占上市公司净利润比重（%） 24.02% 24.30% 
净利息收入 
2006 年上半年，集团实现净利息收入 544.76 亿元人民币，同比增长 58.18 亿元人民币，增幅 11.96%。 
集团生息资产、付息负债的平均余额 5 和平均利率 6 情况如下表所述： 
单位：百万元人民币 
2006 上半年 2005 上半年 2005 全年 
平均余额 平均余额 平项目 平均余额 
金额 占比 
利息 
收支 
平均 
利率 金额 占比 
利息 
收支 
平均 
利率 金额 占比 
利息 
收支 
平均 
利率 
生息资产 
贷款 2,291,998 48% 60,360 5.27% 2,196,061 52% 51,971 4.73% 2,192,058 51% 109,711 5.00% 
债券投资 7 1,837,222 38% 30,652 3.34% 1,383,481 33% 19,908 2.88% 1,475,673 34% 44,938 3.05% 
存放及拆放同业 
和存放中央银行 694,824 14% 8,765 2.52% 639,077 15% 5,587 1.75% 655,359 15% 12,696 1.94% 
小计 4,824,044 100% 99,777 4.14% 4,218,619 100% 77,466 3.67% 4,323,090 100% 167,345 3.87% 
付息负债 
客户存款* 4,001,322 89% 38,887 1.94% 3,471,702 88% 23,815 1.37% 3,560,014 88% 55,914 1.57% 
同业存入及拆入和 
对中央银行负债 371,143 8% 4,122 2.22% 336,394 9% 2,827 1.68% 355,856 9% 6,512 1.83% 
借入专项资金 
和发行债券 112,108 3% 2,292 4.09% 113,672 3% 2,166 3.81% 115,843 3% 4,514 3.90% 
小计 4,484,573 100% 45,301 2.02% 3,921,768 100% 28,808 1.47% 4,031,713 100% 66,940 1.66% 
净利息收入 54,476 48,658 100,405 
净利差(%)8 2.12% 2.20% 2.21% 
净息差(%)9 2.26% 2.31% 2.32% 
5 生息资产、付息负债平均余额是集团的管理帐目日平均余额。 
6 平均利率为年率，按照利息收入（或支出）除以平均余额计算。2006 年上半年和 2005 年上半年平均利率已折算为年率。 
7 包括交易性及其他公允价值变动计入损益的债券和债券投资。 
8 净利差=生息资产平均收益率-付息负债平均成本。 
9 净息差=净利息收入/生息资产平均余额。 
14 
*包括发行存款证余额。 
集团净利息收入受规模和利率因素变动而引起的变化 10 如下表所述。其中，因规模因素 
和利率因素共同产生的影响归结为利率因素变动。 
单位：百万元人民币 
2006 年上半年 比 2005 年上半年 
规模因素 利率因素 合计 
利息收入 
贷款 2,269 6,120 8,389 
债券投资 6,534 4,210 10,744 
存放及拆放同业和存放中央银行 488 2,690 3,178 
小计 9,291 13,020 22,311 
利息支出 
客户存款 (3,628) (11,444) (15,072) 
同业存入及拆入和对中央银行负债 (292) (1,003) (1,295) 
借入专项资金和发行债券 30 (156) (126) 
小计 (3,890) (12,603) (16,493) 
净利息收入 5,401 417 5,818 
利息收入 
2006 年上半年，集团实现利息收入 997.77 亿元人民币，同比增长 223.11 亿元人民币， 
增幅 28.80%。利息收入增长不仅来自于生息资产规模的扩张，更多来自于生息资产平均利率 
的改善。生息资产的平均余额从 2005 年上半年的 42,186.19 亿元人民币增至 2006 年上半年 
的 48,240.44 亿元人民币，增幅 14.35%。集团生息资产平均利率从 2005 年上半年的 3.67% 
提高到 2006 年上半年的 4.14%，增长 47 个基点。 
贷款 
2006 年上半年，集团贷款利息收入 603.60 亿元人民币，同比增长 83.89 亿元人民币， 
增幅 16.14%。主要由于贷款平均收益率从 2005 年上半年的 4.73%提高到 2006 年上半年的 
10 计算规模因素变化对利息收支影响的基准是披露期内生息资产和付息负债平均余额的变化；计算利率因素变化对利息收 
支影响的基准是披露期内生息资产和付息负债平均利率和其他因素的变动。 
15 
5.27%，增长 54 个基点，以及平均余额从 2005 年上半年的 21,960.61 亿元人民币增至 2006 
年上半年的 22,919.98 亿元人民币。集团继续严格控制贷款质量，客户贷款稳健增长，平均 
余额增幅为 4.37%。平均收益率的提高主要由于(1) 外币贷款市场利率的持续上升；(2) 人民 
银行在 2006 年 4 月末提高了人民币贷款的基准利率；(3) 本行贷款质量的继续改善。受境内 
人民币货币市场利率低位运行的影响，贴现的收益率受到一定压力，影响了利息收入的快速 
增长。 
证券投资 
2006 年上半年，集团证券投资利息收入 306.52 亿元人民币，同比增长 107.44 亿元人民 
币，增幅 53.97%。主要由于证券平均余额从 2005 年上半年的 13,834.81 亿元人民币增加到 
2006 年上半年的 18,372.22 亿元人民币，增长 32.80%，以及证券平均收益率从 2005 年上半 
年的 2.88%提高到 2006 年上半年的 3.34%，增长 46 个基点。证券投资平均余额的增长主要 
由于 (1)客户存款持续增长，集团将未能用于贷款投放的剩余资金投向比存放及拆放同业和 
存放中央银行收益率更高的证券投资；(2) 集团继续优化资产组合，降低收益率较低的存放 
及拆放同业资金在资产组合中的比重。平均收益率提高主要由于外币债券收益率受到市场影 
响持续攀升，并弥补了境内人民币货币市场利率低迷的不利影响。 
存放及拆放同业和存放中央银行 
2006 年上半年，集团存放及拆放同业和存放中央银行利息收入为 87.65 亿元人民币，同 
比增长 31.78 亿元人民币，增幅 56.88%。增长主要由于外币资产平均收益率的持续攀升，带 
动平均收益率从 2005 年上半年的 1.75%提高到 2006 年上半年的 2.52%，增长 77 个基点； 
其次，虽然存放中央银行的存款准备金因客户存款增长而增加，但集团压缩了收益率较低的 
存放及拆放同业资产，平均余额从 2005 年上半年的 6,390.77 亿元人民币增加到 2006 年上
16 
半年的 6,948.24 亿元人民币，增长 8.72%。 
利息支出 
2006 年上半年，集团利息支出 453.01 亿元人民币，同比增长 164.93 亿元，增幅 57.25%。 
利息支出增长不仅来源于付息负债规模的增长，更多来自于付息负债平均成本的上升。付息 
负债的平均余额从 2005 年上半年的 39,217.68 亿元人民币增至 2006 年上半年的 44,845.73 
亿元人民币，增幅 14.35%；付息负债平均成本从 2005 年上半年的 1.47%提高到 2006 年上 
半年的 2.02%，增长 55 个基点。 
客户存款 
2006 年上半年，客户存款利息支出 388.87 亿元人民币，同比增长 150.72 亿元，增幅 
63.29%。增长主要由于客户存款付息率从 2005 年上半年的 1.37%提高到 2006 年上半年的 
1.94%，增长 57 个基点，以及平均余额从 2005 年上半年的 34,717.02 亿元人民币增加到 2006 
年上半年的 40,013.22 亿元人民币，增长 5,296.20 亿元，增幅 15.26%。客户存款付息率的 
增长主要由于 (1) 小额外币存款利率同比有较大提高；（2）境外机构市场利率的继续提高。 
平均余额的增长主要由于中国经济快速发展，人民币业务快速增长弥补了因客户预期人民币 
升值而导致境内外币存款业务下滑的影响。 
同业存入及拆入和对中央银行负债 
2006 年上半年，同业存入及拆入和对中央银行负债利息支出 41.22 亿元人民币，同比增 
长 12.95 亿元人民币，增幅 45.81%。增长主要是由于外币资金成本上升，付息率从 2005 年 
上半年的 1.68%提高到 2006 年上半年的 2.22%，增长 54 个基点。尽管平均余额从 2005 年 
上半年的 3,363.94 亿元人民币增加到 2006 年上半年的 3,711.43 亿元人民币，增幅 10.33%，
17 
但同业及其他金融机构存入在付息负债中的比重从 2005 年上半年的 9%下降至 2006 年上半 
年的 8%。 
借入专项资金和发行债券 
2006 年上半年，集团借入专项资金和发行债券利息支出 22.92 亿元人民币，同比增长 
1.26 亿元人民币，增幅 5.82%。增长主要由于资金成本的上升，付息率从 2005 年上半年的 
3.81%提高到 2006 年上半年的 4.09%，增长 28 个基点。 
净利差和净息差 
2006 年上半年，集团净利差为 2.12%，同比收窄 8 个基点，由于受利率上升因素影响， 
无息资金的贡献上升 3 个基点，净息差为 2.26%，同比收窄 5 个基点。息差下降主要由于 (1) 
债券投资比重上升，在生息资产组合中的比重较上年同期上升 5 个百分点，但受人民币货币 
市场利率低迷的影响，抵销了收益率的上升；(2) 受生息资产快速增长和集团审慎维持风险 
和收益之间的平衡的影响，贷款在生息资产的比重有所下降，更多资金投入债券市场；(3) 外 
币资金成本上升。 
2006 年上半年，基于对市场的预测和未来资产负债业务发展的需要，集团加大了吸收人 
民币存款的力度，努力优化和改善资产负债结构，各项业务快速发展，弥补了息差缩窄的影 
响，净利息收入从 2005 年上半年的 486.58 亿元人民币增加到 2006 年上半年的 544.76 亿元 
人民币，增幅 11.96%。 
非利息收入 
2006 年上半年，集团实现非利息收入 101.26 亿元人民币，同比增长 21.05 亿元人民币， 
增幅 26.24%。 
18 
单位：百万元人民币 
2006 年 
1 - 6 月 
2005 年 
1 - 6 月 
2005 年 
1 - 12 月 
手续费及佣金收支净额 6,841 4,518 9,247 
净交易收入 (193) 2,993 4,482 
投资收益 1681 149 (248) 
其他业务收支净额 1,797 361 2,142 
合计 10,126 8,021 15,623 
手续费及佣金收支净额 
单位：百万元人民币 
2006 年 
1 - 6 月 
2005 年 
1 - 6 月 
2005 年 
1 - 12 月 
结算与清算业务收入 1,794 1,287 2,941 
代理业务收入 2,201 1,235 2,735 
信用承诺手续费及佣金收入 1,438 1,308 2,693 
银行卡业务收入 1,365 1,049 2,340 
受托业务收入 248 235 483 
其他 1,120 801 1,506 
手续费及佣金收入 8,166 5,915 12,698 
手续费及佣金支出 (1,325) (1,397) (3,451) 
手续费及佣金收支净额 6,841 4,518 9,247 
2006 年上半年，集团实现手续费及佣金收支净额 68.41 亿元人民币，同比增长 23.23 亿 
元人民币，增幅 51.42%。增长主要由于集团大力发展中间业务，代理业务、结算与清算业务 
和银行卡手续费等项目增长明显。 
集团代理业务收入 22.01 亿元人民币，同比增长 9.66 亿元人民币，增幅 78.22％。增长 
主要由于国债、基金和保险等产品及服务的销售量增长。 
集团结算与清算手续费收入 17.94 亿元人民币，同比增长 5.07 亿元人民币，增幅 39.39%。 
增长主要由于信用证等结算业务量以及保理业务和对私电子汇划费收入的快速增长。 
集团银行卡手续费收入 13.65 亿元人民币，同比增长 3.16 亿元人民币，增幅 30.12％。
19 
增长主要由于集团根据市场变化和客户需求，不断加大银行卡营销力度，银行卡发卡量、交 
易量和 atm 交易频率持续增长。 
净交易收入 
单位：百万元人民币 
2006 年 
1 - 6 月 
2005 年 
1 - 6 月 
2005 年 
1 - 12 月 
汇兑及汇率产品净收益 1,302 3,322 2,518 
利率产品净（损失）/收益 (1,495) （329） 1,964 
合计 (193) 2,993 4,482 
2006 年上半年，集团净交易损失 1.93 亿元人民币，同比下降 31.86 亿元人民币，降幅 
106.45％。 
2006 年上半年，境内行外汇买卖价差收入 27.28 亿元，同比增长 8.04 亿元，增幅 41.79%。 
增长主要由于汇率波动以及个人购汇手续和额度的适度放开，促进了个人结售汇交易量的上 
升。同期，受市场利率波动影响，集团利率工具净收益出现亏损 14.95 亿元，同比下降 11.66 
亿元，降幅 354.41%。 
由于中国人民银行（简称“央行”）自 2005 年 7 月 21 日起对人民币实行有管理的浮动 
汇率制度，受人民币升值影响，2006 年上半年集团受限制的外汇资本性项目下外汇敞口产生 
的净外汇损失约 35 亿元人民币，同时集团与中央汇金投资有限责任公司签署的外币期权合同 
的估值收益为 3 亿元人民币。如不考虑上述因素，集团净交易收入同比增长 1,400 万元。 

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投资收益 
单位：百万元人民币 
2006 年 
1 - 6 月 
2005 年 
1 - 6 月 
2005 年 
1 - 12 月 
股权投资收益 1,587 125 678 
其中：投资联营企业净收益 339 48 166 
其他股权投资净收益 1,248 77 512 
债券投资（损失）/收益 94 24 (926) 
合计 1,681 149 (248) 
2006 年上半年，集团实现投资收益 16.81 亿元人民币，同比增长 15.32 亿元，增幅 
1028.19%，增长主要由于（1）集团于 2005 年 9 月增持华能国际电力开发公司 5％的股权至 
20%，并对华能国际按联营企业采用权益法核算，该部份股权投资收益计入投资联营企业净 
收益；(2) 集团向非全资的中银香港(控股)有限公司出售了中银集团人寿保险有限公司的股 
份；(3) 中银国际投资收益同比增加。 
其他业务收支净额 
单位：百万元人民币 
2006 年 
1 - 6 月 
2005 年 
1 - 6 月 
2005 年 
1 - 12 月 
其他营业收入 5,366 2,767 6,617 
其中：保险业务收入 4,286 2,624 5,237 
其他 1,080 143 1,380 
其他营业支出 (3,569) (2,406) (4,475) 
其中：保险理赔费用 (3,423) (2,168) (3,861) 
其他 (146) (238) (614) 
合计 1,797 361 2,142 
2006 年上半年，集团实现其他业务收支净额 17.97 亿元人民币，同比增长 14.36 亿元人 
民币，增幅 397.78％，增长主要由于集团保险业务收入和其他子公司收入的持续上升。 
21 
业务及管理费 
单位：百万元人民币 
2006 年 
1 - 6 月 
2005 年 
1 - 6 月 
2005 年 
1 - 12 月 
员工费用 13,278 11,654 23,979 
业务费用 7,174 6,208 15,742 
折旧 2,741 3,138 5,883 
合计 23,193 21,000 45,604 
2006 年上半年，集团业务及管理费 231.93 亿元人民币，同比增长 21.93 亿元人民币， 
增幅 10.44%。增长的因素主要包括：（1）继续完善员工薪酬改革以保持集团在此方面的竞争 
力；（2）实施中国银行企业年金计划；（3）由于业务规模扩大和市场竞争日趋激烈，集团支 
持业务发展的费用随之增长；（4）受以前年度出售和处置固定资产等因素影响，上半年的折 
旧支出同比继续下降。 
资产减值损失 
单位：百万元人民币 
2006 年 
1 - 6 月 
2005 年 
1 - 6 月 
2005 年 
1 - 12 月 
贷款减值损失 5,062 4,718 10,888 
抵债资产减值损失 (131) 96 133 
其他应收款坏账损失/（转回） (55) 206 498 
固定资产及其他资产减值（转回）/损失 - (444) (534) 
合计 4,876 4,576 10,985 
2006 年上半年，集团资产减值损失同比增长 3 亿元人民币，增幅 6.56%。 
应收利息及其他应收坏帐准备的计提情况 
依据财政部《金融企业会计制度》有关规定，“金融企业应当在期末分析各项应收款项（含 
拆出资金、应收保费等，但不包括贷款的应收利息）的可收回性，并预计可能产生的坏帐损 
失。对预计可能发生的坏账损失，计提坏账准备”。贷款应收利息或其对应的贷款本金逾期
22 
90 天后，应收利息转入表外，同时将已入账的利息收入和应收利息予以冲销。应收贷款利息 
的账龄均为 90 天以内。 
报告期内，集团坏账准备计提情况如下： 
单位：百万元人民币 
2006 年 6 月 30 日 2005 年 12 月 31 日 增加额 
其他应收款 17,538 14,275 3,263 
坏账准备余额 3,874 3,878 (4) 
所得税分析 
2006 年上半年，集团所得税费用为 123.62 亿元人民币，同比增长 15.02 亿元人民币， 
增幅 13.83%。集团有效税率为 36.34%，同比下降 0.38 个百分点。 
资产负债项目分析 
单位：百万元人民币 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
2004 年 
12 月 31 日 
债券投资 11 1,988,271 1,669,591 1,309,479 
存放及拆放同业和存放中央银行 640,765 661,478 631,727 
贷款净值 2,317,408 2,151,893 2,071,693 
固定资产及在建工程 75,148 76,320 79,302 
资产总计 5,226,933 4,742,806 4,270,443 
同业存入及拆入和对中央银行负债 388,844 375,288 318,443 
客户存款 4,053,024 3,703,777 3,342,477 
借入专项资金和发行债券 109,799 112,343 95,802 
负债合计 4,840,480 4,480,186 4,037,705 
少数股东权益 28,812 28,778 27,387 
股东权益合计 357,641 233,842 205,351 
负债和股东权益总计 5,226,933 4,742,806 4,270,443 
11 包括可供出售证券、持有至到期日债券、贷款及应收款和交易性及其他公允价值变动计入损益的债券。 
23 
证券 
单位：百万元人民币 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
2004 年 
12 月 31 日 
交易性及其他公允价值变动计入损益的债券 110,602 107,271 91,012 
可供出售债券 919,175 593,010 346,532 
持有至到期日债券净值 569,126 607,459 457,994 
分类为贷款及应收款的债券净值 389,368 361,851 413,941 
合 计 1,988,271 1,669,591 1,309,479 
截至 2006 年 6 月末，集团证券资产 19,882.71 亿元人民币，较上年末增长 3,186.80 亿 
元人民币，增幅 19.09％。其中可供出售债券增长 3,261.65 亿元人民币，是证券资产增长的 
主要原因。 
贷款 
截至 2006 年 6 月末，集团贷款总额为 24,055.36 亿元人民币，较上年末增加 1,704.9 亿 
元人民币，增幅 7.6％。其中，境内机构贷款总额为 19,726.31 亿元人民币, 较上年末增加 
1,727.08 亿元人民币, 增幅 9.6%, 境内机构贷款增长最快的地区是华东地区, 贷款余额较上 
年末增加 938.1 亿元人民币, 增幅 13.1%。 
集团贷款地区集中度 
单位：百万元人民币 
2006 年 6 月 30 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
余额 占比 余额 占比 余额 占比 
境内机构 1,972,631 82.00% 1,799,923 80.53% 1,734,302 80.80% 
境外机构 432,905 18.00% 435,123 19.47% 412,160 19.20% 
合计 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 

24 
境内机构贷款地区结构 
单位：百万元人民币 
2006 年 6 月 30 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
余额 占比 余额 占比 余额 占比 
华北地区 353,477 17.92% 322,451 17.91% 313,843 18.10% 
东北地区 135,087 6.85% 131,430 7.30% 128,374 7.40% 
华东地区 813,572 41.24% 719,759 39.99% 679,773 39.20% 
中南部地区 470,372 23.85% 444,869 24.72% 433,860 25.02% 
西部地区 200,123 10.14% 181,414 10.08% 178,452 10.28% 
合计 1,972,631 100.00% 1,799,923 100.00% 1,734,302 100.00% 
注： 华北地区包括北京、天津、河北、山西、内蒙古及总行本部； 
东北地区包括黑龙江、吉林及辽宁； 
华东地区包括上海、江苏、浙江、安徽、福建、江西及山东； 
中南地区包括河南、湖北、湖南、广东、深圳、广西及海南； 
西部地区包括重庆、四川、贵州、云南、陕西、甘肃、宁夏、青海、西藏及新疆。 
集团贷款行业集中度 
截至 2006 年 6 月末，集团公司贷款余额为 18,640.81 亿元人民币，较年初增加 1,520.38 
亿元人民币，增幅为 8.9%。公司贷款主要集中于制造业、商业及服务业等行业领域，该两类 
贷款分别占公司贷款的 31.75%及 17.35%，境内机构贷款行业结构与集团总体特点相似。 
集团公司贷款行业结构 
单位：百万元人民币 
2006 年 6 月 30 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
余额 占比 余额 占比 余额 占比 
制造业 591,909 31.75% 531,191 31.03% 523,506 31.70% 
商业、服务业 323,348 17.35% 301,863 17.63% 348,432 21.10% 
房地产 201,585 10.82% 190,297 11.11% 187,110 11.40% 
能源、采矿和农业 252,415 13.54% 230,854 13.48% 203,544 12.30% 
运输业 200,503 10.76% 193,428 11.30% 184,449 11.10% 
公用事业 104,827 5.62% 91,924 5.37% 87,731 5.30% 
建筑业 38,304 2.05% 36,050 2.11% 36,059 2.20% 
金融业 112,153 6.02% 96,245 5.62% 46,518 2.80% 
其他 39,037 2.09% 40,191 2.35% 35,072 2.10% 
公司贷款总计 1,864,081 100.00% 1,712,043 100.00% 1,652,421 100.00% 

25 
境内机构公司贷款行业结构 
单位：百万元人民币 
2006 年 6 月 30 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
余额 占比 余额 占比 余额 占比 
制造业 543,831 34.68% 490,898 34.57% 497,317 36.10% 
商业、服务业 276,491 17.64% 255,460 17.99% 284,772 20.60% 
房地产 104,121 6.64% 96,390 6.79% 100,932 7.30% 
能源、采矿和农业 233,357 14.88% 210,281 14.81% 186,942 13.50% 
运输业 173,417 11.06% 165,396 11.65% 157,762 11.40% 
公用事业 104,827 6.69% 91,924 6.47% 87,731 6.30% 
建筑业 32,940 2.10% 30,089 2.12% 27,938 2.00% 
金融业 96,440 6.15% 77,237 5.44% 32,079 2.30% 
其他 2,512 0.16% 2,290 0.16% 7,484 0.50% 
公司贷款总计 1,567,936 100.00% 1,419,965 100.00% 1,382,957 100.00% 
集团贷款客户集中度 
截至 2006 年 6 月末，集团公司贷款余额为 18,640.81 亿元人民币，较上年末增加 1,520.38 
亿元人民币，增幅为 8.9%，公司贷款占全部贷款的比率为 77.5%；个人贷款余额为 5,414.55 
亿元人民币，较上年年末增加 184.52 亿元人民币，增幅为 3.5%，个人贷款占全部贷款的比 
率为 22.5%。境内机构公司贷款余额较上年末增加 1,479.71 亿元人民币，增幅为 10.4%；个 
人贷款余额较上年末增加 247.37 亿元人民币，增幅为 6.5%。 
集团贷款按客户分类 
单位：百万元人民币 
2006 年 6 月 30 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
余额 占比 余额 占比 余额 占比 
公司贷款 1,864,081 77.49% 1,712,043 76.60% 1,652,421 76.98% 
包括：贸易票据 269,713 11.21% 225,026 10.07% 177,738 8.28% 
个人贷款 541,455 22.51% 523,003 23.40% 494,041 23.02% 
合计 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 

26 
境内机构贷款按客户分类 
单位：百万元人民币 
2006 年 6 月 30 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
余额 占比 余额 占比 余额 占比 
公司贷款 1,567,936 79.48% 1,419,965 78.89% 1,382,957 79.74% 
包括：贸易票据 240,826 12.21% 195,311 10.85% 148,832 8.58% 
个人贷款 404,695 20.52% 379,958 21.11% 351,345 20.26% 
合计 1,972,631 100.00% 1,799,923 100.00% 1,734,302 100.00% 
境内机构个人贷款按产品分类 
单位：百万元人民币 
2006年6月30日 2005年12月31日 2004年12月31日 
余额 占比 余额 占比 余额 占比 
按揭 308,387 76.20% 286,829 75.49% 240,640 68.49% 
信用卡 2,212 0.55% 1,929 0.51% 1,441 0.41% 
其他 94,096 23.25% 91,200 24.00% 109,264 31.10% 
合计 404,695 100.00% 379,958 100.00% 351,345 100.00% 
注：(1)其他主要包括汽车消费贷款、个人投资经营贷款和个人助学贷款等。 
集团贷款币种结构 
截至 2006 年 6 月末，集团人民币贷款余额为 16,438.96 亿元，较年初增加 
1,660.37 亿元，增幅为 11.2%，占贷款总额的 68.3%。 
集团贷款币种结构 
单位：百万元人民币 
2006 年 6 月 30 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
余额 占比 余额 占比 余额 占比 
人民币 1,643,896 68.34% 1,477,859 66.12% 1,378,760 64.23% 
外币 761,640 31.66% 757,187 33.88% 767,702 35.77% 
合计 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 

27 
境内机构贷款币种结构 
单位：百万元人民币 
2006 年 6 月 30 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
余额 占比 余额 占比 余额 占比 
人民币 1,641,482 83.21% 1,475,821 82.00% 1,378,343 79.50% 
外币 331,149 16.79% 324,102 18.00% 355,959 20.50% 
合计 1,972,631 100.00% 1,799,923 100.00% 1,734,302 100.00% 
集团贷款担保结构 
截至 2006 年 6 月末，集团贷款担保方式抵押、质押贷款占比较大，为 45.85 %，信用 
贷款占比为 24.1 %。 
集团贷款担保方式 
单位：百万元人民币 
2006 年 6 月 30 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
余额 占比 余额 占比 余额 占比 
信用贷款 578,987 24.08% 475,764 21.29% 447,800 20.86% 
保证贷款 723,502 30.07% 684,824 30.64% 650,905 30.32% 
抵押、质押贷款 1,103,047 45.85% 1,074,458 48.07% 1,047,757 48.82% 
合计 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 
贷款质量 
截至 2006 年 6 月末，集团减值贷款总额为 1059.44 亿元人民币，较上年末减少 33.67 
亿元人民币，减值贷款比率 4.4%, 较上年末下降 0.49 个百分点。境内机构减值贷款总额为 
995.43 亿元人民币, 较上年末减少 25.97 亿元人民币, 减值贷款比率 5.05%, 较上年末下降 
0.62 个百分点。海外机构减值贷款总额为 64.01 亿元人民币, 较上年末减少 7.70 亿元人民币, 
减值贷款比率 1.48%, 较上年末下降 0.17 个百分点。 

28 
集团减值贷款地区结构 
单位：百万元人民币 
2006年6月30日 2005年12月31日 2004年12月31日 
余额 占比 减值比率 余额 占比 减值比率 余额 占比 减值比率 
境内机构 99,543 93.96% 5.05% 102,140 93.44% 5.67% 104,327 88.3% 6.02% 
境外机构 6,401 6.04% 1.48% 7,171 6.56% 1.65% 13,830 11.7% 3.36% 
合计 105,944 100.00% 4.40% 109,311 100.00% 4.89% 118,157 100.0% 5.50% 
注(1)若有客观减值证据证明贷款的预计未来现金流量减少且减少余额可以预计，则本行确认该客户贷款已减值，并 
确认损失。 
（2）减值贷款比率按识别减值贷款金额除以该类别的贷款总余额计算。 
境内机构减值贷款地区结构 
单位：百万元人民币 
2006年6月30日 2005年12月31日 2004年12月31日 
余额 占比 减值比率 余额 占比 减值比率 余额 占比 减值比率 
华北地区 18,457 18.54% 5.22% 17,699 17.30% 5.50% 22,600 21.70% 7.20% 
东北地区 11,968 12.03% 8.84% 12,363 12.10% 9.40% 13,170 12.60% 10.26% 
华东地区 25,962 26.08% 3.19% 27,811 27.20% 3.90% 28,595 27.40% 4.21% 
中南部地区 30,071 30.21% 6.39% 30,611 30.00% 6.90% 26,611 25.50% 6.13% 
西部地区 13,085 13.14% 6.54% 13,656 13.40% 7.50% 13,351 12.80% 7.48% 
合计 99,543 100.00% 5.05% 102,140 100.00% 5.70% 104,327 100.00% 6.02% 
境内机构公司减值贷款行业结构 
单位：百万元人民币 
2006年6月30日 2005年12月31日 2004年12月31日 
余额 占比 减值比率 余额 占比 减值比率 余额 占比 减值比率 
制造业 34,856 38.86% 6.41% 32,969 35.58% 6.76% 32,218 33.37% 6.48% 
商业、服务业 23,162 25.83% 8.38% 25,443 27.46% 9.96% 26,344 27.29% 9.25% 
房地产 11,596 12.93% 11.14% 12,763 13.77% 13.24% 13,453 13.93% 13.33% 
能源、采矿和农业 6,624 7.39% 2.84% 6,665 7.19% 3.17% 6,588 6.82% 3.52% 
运输业 7,176 8.00% 4.14% 7,759 8.37% 4.69% 9,729 10.08% 6.17% 
公用事业 4,312 4.81% 4.11% 4,627 4.99% 5.03% 5,564 5.76% 6.34% 
建筑业 1,717 1.91% 5.21% 2,226 2.40% 7.40% 2,569 2.66% 9.20% 
金融业 235 0.26% 0.24% 215 0.24% 0.28% 72 0.08% 0.22% 
其他 6 0.01% 0.26% 0 0.00% 0.00% 6 0.01% 0.08% 
公司减值贷款合计 89,684 100.00% 5.72% 92,667 100.00% 6.54% 96,543 100.00% 6.98% 
29 
集团减值贷款客户结构 
单位：百万元人民币 
2006年6月30日 2005年12月31日 2004年12月31日 
余额 占比 减值比率 余额 占比 减值比率 余额 占比 减值比率 
公司贷款 95,120 89.78% 5.10% 98,669 90.26% 5.76% 108,005 91.41% 6.54% 
个人贷款 10,824 10.22% 2.00% 10,642 9.74% 2.03% 10,152 8.59% 2.05% 
合计 105,944 100.00% 4.40% 109,311 100.00% 4.89% 118,157 100.00% 5.50% 
境内机构减值贷款客户结构 
单位：百万元人民币 
2006年6月30日 2005年12月31日 2004年12月31日 
余额 占比 减值比率 余额 占比 减值比率 余额 占比 减值比率 
公司贷款 89,684 90.10% 5.72% 92,667 90.73% 6.53% 96,543 92.55% 6.99% 
个人贷款 9,859 9.90% 2.44% 9,473 9.27% 2.49% 7,784 7.45% 2.22% 
合计 99,543 100.00% 5.05% 102,140 100.00% 5.67% 104,327 100.00% 6.02% 
境内机构个人减值贷款分布 
单位：百万元人民币 
2006年6月30日 2005年12月31日 2004年12月31日 
余额 占比 减值比率 余额 占比 减值比率 余额 占比 减值比率 
按揭 3,930 39.87% 1.27% 3,837 40.50% 1.34% 3,608 46.35% 1.50% 
信用卡 267 2.71% 12.08% 228 2.41% 11.82% 218 2.80% 15.13% 
其他 5,662 57.42% 6.02% 5,408 57.09% 5.93% 3,958 50.85% 3.62% 
合计 9,859 100.00% 2.44% 9,473 100.00% 2.49% 7,784 100.00% 2.22% 
贷款五级分类情况 
截止 2006 年 6 月末，集团按照监管分类标准确认的不良贷款总额 1,007.88 亿元人民币， 
较上年末减少 24.38 亿元人民币，不良贷款比率 4.19%, 较上年末下降 0.43 个百分点。境内 
机构不良贷款总额为 965.19 亿元人民币, 较上年末减少 16.9 亿元人民币, 不良贷款比率 
4.89%, 较上年末下降 0.57 个百分点。集团关注类贷款总额 2,617.88 亿元人民币, 较上年末
30 
减少 222.60 亿元人民币, 关注类贷款占全部贷款比例 10.88%, 较上年末下降 1.83 个百分点。 
集团资产质量状况 
单位：百万元人民币 
2006年6月30日 2005年12月31日 2004年12月31日 
余额 占比 余额 占比 余额 占比 
正常 2,042,960 84.93% 1,847,772 82.67% 1,611,936 75.10% 
关注 261,788 10.88% 284,048 12.71% 424,606 19.78% 
次级 42,082 1.75% 45,573 2.04% 61,289 2.86% 
可疑 43,479 1.81% 44,550 1.99% 32,931 1.53% 
损失 15,227 0.63% 13,103 0.59% 15,700 0.73% 
合计 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 
不良总额 100,788 4.19% 103,226 4.62% 109,920 5.12% 
境内机构资产质量状况 
单位：百万元人民币 
2006 年 6 月 30 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
余额 占比 余额 占比 余额 占比 
正常 1,625,776 82.42% 1,430,210 79.46% 1,227,414 70.77% 
关注 250,336 12.69% 271,504 15.08% 408,571 23.56% 
次级 40,917 2.07% 44,056 2.45% 57,656 3.32% 
可疑 41,760 2.12% 42,852 2.38% 29,787 1.72% 
损失 13,842 0.70% 11,301 0.63% 10,874 0.63% 
合计 1,972,631 100.00% 1,799,923 100.00% 1,734,302 100.00% 
不良总额 96,519 4.89% 98,209 5.46% 98,317 5.67% 
客户存款 
单位：百万元人民币 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
2004 年 
12 月 31 日 
短期 12 对公存款 1,467,863 1,323,444 1,150,115 
短期储蓄存款 2,044,461 1,911,921 1,756,312 
长期 13 对公存款 32,157 26,317 32,743 
长期储蓄存款 339,763 313,703 296,246 
存入保证金 168,780 128,392 107,061 
合计 4,053,024 3,703,777 3,342,477 
12 活期、一年及以下定期存款 
13 一年以上定期存款 
31 
截至 2006 年 6 月末，集团客户存款 40,530.24 亿元人民币，较上年末增长 3,492.47 亿 
元人民币，增幅 9.43％。其中，对公存款、对私存款分别增长 1,502.59 亿元人民币和 1,586 
亿元人民币。 
客户存款币种结构 
截至 2006 年 6 月末，集团人民币存款余额为 28,765.75 亿元人民币，较年初增加 
3,446.97 亿元，增幅为 13.6%，占存款总额 71%。 
客户存款币种结构 
单位：百万元人民币 
2006 年 6 月 30 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
余额 占比 余额 占比 余额 占比 
人民币 2,876,575 70.97% 2,531,878 68.36% 2,093,272 62.63% 
外币 1,176,449 29.03% 1,171,899 31.64% 1,249,205 37.37% 
合计 4,053,024 100.00% 3,703,777 100.00% 3,342,477 100.00% 
所有者权益 
单位：百万元人民币 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
2004 年 
12 月 31 日 
少数股东权益 28,812 28,778 27,387 
股东权益 357,641 233,842 205,351 
股东权益合计 386,453 262,620 232,738 
2006 年上半年，本行向全国社会保障基金理事会定向溢价发行普通股，随后，向境外投 
资者溢价发行境外上市外资股(h 股)和向境内投资者溢价发行普通股(a 股)。请参见附件—— 
会计师报告附注三 17(1)。 
32 
报告期内股东权益变动情况 
单位：百万元人民币 
股本 资本 
公积 
盈余 
公积 
一般准备 
及法定 
储备金 
未分配 
利润 
可供出 
售债券 
公允价值 
变动储备 
外币报 
表折算 
差额 
合计 
2006 年 1 月 1 日余额 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
本年净利润 - - - - 19,024 - - 19,024 
发行普通股 44,412 72,567 - - - - - 116,979 
提取盈余公积 - - 2,108 - (2,108) - - - 
提取一般准备及法定储备金 - - - 4,291 (4,291) - - - 
可供出售债券储备净变动 - - - - - (10,574) - (10,574) 
股利分配 - - - - (1,375) - (1,375) 
外币报表折算差额 - - - - - - (255) (255) 
其他 - - - (2) 2 - - - 
2006 年 6 月 30 日余额 253,839 76,545 8,095 9,398 23,837 (11,954) (2,119) 357,641 
主要表外项目余额 
报告期末，集团主要表外项目及余额如下表所示： 
单位：百万元人民币 
2006 年 6 月 30 日 2005 年 12 月 31 日 
银行承兑 230,434 195,234 
开出保函 255,779 212,987 
开出信用证 115,686 101,195 
不可撤销的信用承诺及其他 422,297 386,346 
合计 1,024,196 895,762 

33 
截止报告期末前三年期末补充财务指标 
单位：% 
主要监管指标 监管标准 2006 年 6 月 30 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
资本充足率(%) ≥8 12.4 10.4 10.0 
核心资本充足率(%) ≥4 10.6 8.1 8.5 
人民币 ≥25 32.0 48.9 35.3 
流动性比率(%) 
外币 ≥25 45.8 87.4 78.6 
人民币 ≤75 57.2 51.7 59.6 
贷存款比例(%) 
外币 ≤85 64.7 70.4 67.9 
不良贷款率(%) - 4.2 4.6 5.1 
拨备覆盖率(%) ≥60 87.4 80.6 68.0 
单一最大客户贷款比例(%) ≤10 3.9 4.7 3.4 
最大十家客户贷款比例(%) ≤50 19.3 25.6 25.4 
以上监管指标依据中国银行业监督管理委员会的相关规定进行计算，财务数据按中国企业会计准则及《金融企业会计制度》 
要求编制。其中流动性指标根据银监会 2006 年相关规定计算。 
资本充足率 
本行根据中国银监会 2004 年 2 月 23 日颁布的《商业银行资本充足率管理办法》（中国 
银行业监督管理委员会令[2004]第 2 号）计算和披露资本充足率。自 2005 年起，集团按照 
银监会颁布的《中国银行业监督管理委员会办公厅关于下发商业银行市场风险资本要求计算 
表、计算说明的通知》（银监发[2004]第 374 号），计算市场风险资本。截至 2006 年 6 月末， 
集团资本充足率为 12.40%，较上年末上升 1.98 个百分点；核心资本充足率 10.63%，较上 
年末上升 2.55 个百分点。 
截至 2006 年 6 月末，集团资本净额 4,520.27 亿元，较上年末增加 1,257.90 亿元。其 
中，核心资本净额 3,876.98 亿元，较上年末增加 1,347.28 亿元。集团加权风险资产总额 
31,636.59 亿元（不含市场风险），较上年末增加 3,704.70 亿元。集团市场风险资本要求为 
385.49 亿元，相应转换风险资产 4,818.68 亿元。 
34 
单位：百万元人民币/% 
项 目 2006 年 6 月 30 日 2005 年 12 月 31 日 增减额/率 
核心资本净额（a） 387,698 252,970 134,728 
资本净额（b） 452,027 326,237 125,790 
加权风险资产（c） 3,163,659 2,793,189 370,470 
市场风险资本（d） 38,549 27,025 11,524 
核心资本充足率（%）［e=a/(c+d*12.5)］ 10.63% 8.08% 2.55% 
资本充足率（%）［f=b/(c+d*12.5)］ 12.40% 10.42% 1.98% 
分部报告 
地区分部报告 
2006 年 6 月 30 日 单位：百万元人民币 
中国内地 港澳地区 其他 
境外地区 抵销 集团 
净利息收入 45,078 8,549 845 4 54,476 
非利息收入 4,371 6,189 152 (586) 10,126 
业务及管理费 (18,920) (3,618) (687) 32 (23,193) 
营业利润 27,584 11,091 297 (550) 38,422 
资产减值(损失)/回拨 (5,932) 935 121 - (4,876) 
利润总额 21,824 12,284 455 (550) 34,013 
所得税 (10,751) (1,672) (142) 203 (12,362) 
少数股东应享本年利润 (4) (2,623) - - (2,627) 
净利润 11,069 7,989 313 (347) 19,024 
分部资产 4,268,205 993,715 199,169 (234,156) 5,226,933 
分部负债 (3,917,105) (897,042) (191,882) 165,549 (4,840,480) 
2005 年 6 月 30 日 单位：百万元人民币 
中国内地 港澳地区 其他 
境外地区 
抵销 集团 
净利息收入 40,434 7,380 844 - 48,658 
非利息收入 4,860 2,712 449 - 8,021 
业务及管理费 (17,046) (3,358) (596) - (21,000) 
营业利润 25,612 6,710 687 - 33,009 
资产减值(损失)/回拨 (6,591) 1,805 210 - (4,576) 
利润总额 19,744 8,882 952 - 29,578 
所得税 (9,472) (1,228) (160) - (10,860) 
少数股东应享本年利润 9 (2,293) - - (2,284) 
净利润 10,281 5,361 792 - 16,434 
分部资产 3,803,989 966,225 186,982 (214,390) 4,742,806 
分部负债 (3,584,086) (871,046) (178,853) 153,799 (4,480,186) 
35 
2006 年上半年，中国内地仍然是中国银行最重要的经营区域，是集团重要的收入和利润 
增长来源，该地区资产在集团资产总额中的占比为 78%，净利润占比为 57%；港澳地区是集 
团除内地之外的另一个重点经营区域，该地区资产占集团资产总额的 18 %，净利润占比为 
41%。 
业务分部报告 
2006 年 6 月 30 日 单位：百万元人民币 
公司银行业务 个人银行业务 资金业务 投资银行 保险业务 其他 抵销 总计 
净利息收入 26,602 16,881 11,376 19 250 (656) 4 54,476 
非利息收入 5,029 4,147 (1,471) 1,324 198 1,536 (637) 10,126 
业务及管理费 (8,588) (11,677) (2,876) (224) (103) (406) 681 (23,193) 
营业利润 21,565 8,892 6,006 1,117 342 452 48 38,422 
资产减值(损失)/回拨 (4,202) (720) 1 (5) 6 44 - (4,876) 
利润总额 17,419 8,299 6,052 1,110 388 1,295 (550) 34,013 
分部资产 1,813,042 637,280 2,692,140 18,079 17,153 84,279 (35,040) 5,226,933 
资本性支出 416 782 31 6 2 953 - 2,190 
2005 年 6 月 30 日 单位：百万元人民币 
公司银行业务 个人银行业务 资金业务 投资银行 保险业务 其他 抵销 总计 
净利息收入 25,744 16,021 7,056 63 183 (409) - 48,658 
非利息收入 4,135 2,558 746 335 46 243 (42) 8,021 
业务及管理费 (7,876) (10,148) (2,680) (195) (88) (301) 288 (21,000) 
营业利润 20,548 7,995 4,362 201 140 (483) 246 33,009 
资产减值(损失)/回拨 (5,471) 819 19 1 (2) 58 - (4,576) 
利润总额 15,184 9,029 4,452 203 134 576 - 29,578 
分部资产 1,658,718 603,891 2,399,377 15,159 12,398 77,644 (24,381) 4,742,806 
资本性支出 342 665 32 4 25 698 - 1,766 
自 2006 年 1 月 1 日起，本集团对内部转移定价政策进行了修订。新的内部转移定价机制以市场存款 
和贷款利率为基准，参照不同产品及其期限调整其预定利润率。在 2006 年 1 月 1 日前，本集团采用 
资金的平均成本和生息资产的平均利率作为内部转移定价的基础，并未考虑不同产品和各自到期日。 
该方法变化的主要原因是为了更好的反映各业务分部的经营业绩，加强本行对资产和负债的管理能 
力。以上表已根据新的分部转移定价，对 2005 年 6 月 30 日的报表项目的分部信息进行重新披露。 

36 
业务回顾 
商业银行业务 
本行业务涵盖商业银行、投资银行和保险三大领域，在世界 27 个国家和地区拥有分支 
机构，与 1,400 家国外代理行总行及其 46,900 家分支机构保持了代理业务关系，凭借全球化 
的网络及其优质的服务、雄厚的实力，使本行在国内市场保持着独特的竞争优势。 
公司业务 
公司业务指本行向公司客户提供的包括存款、贷款、贸易融资、结算、清算、托管等在 
内的各项金融产品和融资、财务解决方案等。 
公司存、贷款业务 本行继续加大公司存款的营销力度，人民币公司存款延续了多年 
来的快速增长态势。截至 2006 年 6 月末，境内行人民币公司存款余额 11,421 亿元人民币， 
比上年末增加 1,467 亿元人民币，增长率为 14.7%,在全部金融机构 14 中的市场份额约为 8.2 
%；本行积极扩展重点客户群，落实差别化的业务管理和服务政策，并发挥总分行对重点项 
目的联动营销优势，加快发展优质资产业务。截至 2006 年 6 月末，境内行人民币公司贷款 
余额 12,367 亿元人民币，比上年末增加 1,409 亿元人民币，增长率为 12.8%， 在全部金融 
机构中的市场份额约为 6.7 %。在保持人民币公司存款稳定增长的同时，本行加大了外币公 
司存款拓展力度，努力维持我行市场优势。截至 2006 年 6 月末，境内行外币公司存款余额 
176.7 亿美元，比上年末增加 12.9 亿美元，在全部金融机构中的市场份额约为 21.1%；本行 
充分发挥外汇业务优势，积极开展产品创新，并抓住贸易融资业务的市场机会，促进外币公 
14 全部金融机构包括：中国人民银行、政策性银行、国有商业银行、其他商业银行、城市商业银行、农村商业银行、城市 
信用社、农村合作银行、农村信用社、财务公司、信托投资公司、租赁公司、邮政储汇局。 
37 
司贷款的增长。本报告期末，境内行外币公司贷款余额 414.4 亿美元，比上年末增加 12.8 
亿美元，在全部金融机构中的市场份额约为 33.5%。境外机构外币公司存款余额 270 亿美元， 
公司贷款余额 370.4 亿美元。 
集团公司存款币种结构 （单位：亿元人民币） 
2006 年 6 月 30 日 2005 年 12 月 31 日 
人民币 11,431 9,959 
外币折合人民币 3,569 3,539 
各货币折合人民币 15,000 13,498 
2006 年上半年，本行大力拓展优质客户和业务，积极探索公司业务经营和管理的转型。 
继续加强总分行间对重点客户、重点项目的联动营销，拓展优质资产业务；加强与产品部门 
的合作，扩大产品的交叉销售；加强海内外联动和与本行附属机构中国银行(香港)有限公司(简 
称“中银香港”)、中银国际控股有限公司 (简称“中银国际”)、中银国际投资有限公司（简 
称“中银投资”）、中银集团保险有限公司（简称“中银集团保险”）等机构的业务合作，提 
高公司业务整体竞争力；通过试点小企业业务、强化产品创新，确保公司业务的持续健康发 
展。 
集团公司贷款币种结构 （单位：亿元人民币） 
2006 年 6 月 30 日 2005 年 12 月 31 日 
人民币 12,392 10,979 
外币折合人民币 6,249 6,141 
各货币折合人民币 18,641 17,120 
金融机构业务 本行金融机构业务是指以各类金融机构客户为服务对象，运用银行自 
身资源，以获取综合效益为目的所从事的资产、负债和中间业务等业务活动。受股市影响， 
2006 年 5-6 月金融机构存款增长较快。截至 2006 年 6 月末，境内行人民币金融机构存款余 
额为 1,723.3 亿元人民币，比上年末增加 182.7 亿元人民币；外币金融机构活期及定期存款 
余额为 98.7 亿美元，比上年末减少 1.8 亿美元。 
38 
自 1987 年起，本行先后确定纽约分行、东京分行、法兰克福作为美元、日元和欧元清 
算主渠道。经过若干年的发展，本行已建立起一个完整的、多货币、跨区域的海外清算体系。 
为海内外客户提供高效、快捷、便利的清算服务。 
托管与基金代销业务 本行托管业务产品包括封闭式基金托管、开放式基金托管、券 
商集合理财计划托管、全国社保基金托管、保险资金托管、合格境外机构投资者（qfii）资 
金托管、企业年金托管、信托资金托管、资产证券化资金托管以及产业基金托管、合格境内 
机构投资者（qdii）境外投资资金托管等新兴托管产品。代销产品涵盖了股票型、平衡型、 
债券型等所有开放式基金类型，及券商集合理财计划代销、投资连结保险产品代销等产品。 
2006 年上半年，托管和代销业务的经营环境总体向好，股市活跃，使得各类投资者入市 
的步伐加快，业务创新提速。总体上看，上半年代销及托管业务均保持了健康快速的发展。 
截至 2006 年 6 月末，本行托管总资产规模近 2100 亿元人民币，比年初增长逾 20%，居市场 
领先地位；本行代销基金金额逾 280 亿元人民币，同比增长逾 50%。 
2006 年上半年，我行在合格境外机构投资者(qfii)境内证券投资资金、保险资金、企业 
年金、地方社保基金等托管业务方面均取得了新的突破，成为最大的中资 qfii 托管银行。 
国际结算及贸易融资业务 本行国际结算及贸易融资业务涵盖了进口开立信用证、出 
口信用证项下交单、进出口押汇、福费廷、信用证保兑、保函、保理等产品，除传统的国际 
结算及贸易融资服务外，本行独家办理的加工贸易保证金台帐、税款保付保函等业务，满足 
了客户不同层次的结算及融资需求。 
2006 年上半年，集团共办理国际结算业务 4,204.9 亿美元，同比增长 12.6 %，其中境 
内行办理国际结算业务 2,699 亿美元，同比增长 10.7 %；境外行办理国际结算业务 1,505 亿
39 
美元，同比增长 16.2%。2006 年上半年，受国内经济发展良好态势的影响，国内贸易融资业 
务量大幅度增长，其中保理融资业务同比增幅达 223%；受国际市场利率攀升等因素的影响， 
国际贸易融资业务增势趋缓。2006 年上半年，集团共叙作国际贸易融资业务 291.7 亿美元， 
同比增长 13.3%。其中境内行办理国际贸易融资业务 131.4 亿美元，境外行办理国际贸易融 
资业务 199.1 亿美元。境内行叙作外汇保函业务 47.7 亿美元，同比增长 83.5%；人民币保函 
业务 373 亿元，同比增长 109.5%。境内行叙作国际保理业务 25.8 亿美元，同比增长 27.4%； 
叙作国内保理业务 127.6 亿元人民币，同比增长 192.3%。 
集团国际结算业务量 (单位:亿美元) 
年度 2006年6月30日 2005年6月30日 
业务量 4,204.9 3,733.9 
2006 年上半年，本行加大了对贸易融资产品和中间业务产品的创新和组合应用，先后推 
出了“出口全益达、进口汇利达、进口保付达、报关及时通”等一系列具有强大市场竞争力 
的产品，研发了出口信用险项下的福费廷业务等新型产品和服务。这些产品创新突显我行国 
际结算及贸易融资产品和服务的优势，进一步巩固了本行国际结算业务领先者的市场地位。 
个人金融业务 
个人金融业务是指本行为居民个人或家庭提供的包括个人存款、个人贷款、财富管理和 
银行卡等在内的各项金融服务。 
储蓄存款 截至 2006 年 6 月末，境内行人民币储蓄存款余额为 15,738 亿元，比上年 
末增加 1,574.4 亿元；在全部金融机构中的市场份额为约 10.2%，比上年末上升 0.1 个百分 
点。境内行外币储蓄存款为 316.9 亿美元，比上年末减少 8.2 亿美元，在全部金融机构中的 
市场份额约为 49.8%。境外机构储蓄存款为 696.8 亿美元（其中含人民币储蓄存款 89.7 亿元）， 
比上年末增加 19.1 亿美元。外币储蓄存款下降的主要原因为人民币汇率形成机制的改变，
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加大了市场对于人民币汇率再次升值的预期，使居民外币储蓄意愿减弱。 
集团储蓄存款币种结构 （单位：亿元人民币） 
2006 年 6 月 30 日 2005 年 12 月 31 日 
人民币 15,827 14,254 
外币折合人民币 8,015 8,002 
各货币折合人民币 23,842 22,256 
个人贷款 截至 2006 年 6 月末，境内行个人贷款余额为 4,047 亿元人民币，比上年末 
增加 247 亿元，其中住房贷款余额为 3,084 亿元人民币，比上年末增加 216 亿元人民币。境 
外机构个人贷款余额为 171 亿美元，比上年末减少 6.2 亿美元。 
2006 年上半年，本行加大以“理想之家”为统一品牌的直客式个人住房贷款的营销力度， 
推出了具有较强市场竞争力的“易居宝”一手房贷款和“安居宝”二手房贷款两款新产品； 
加强了与全国领先房地产开发企业的战略合作。截至 2006 年 6 月末，境内机构开展“直客 
式”消费贷款业务的网点数量超过 7,000 个，占全部网点的 60%以上。 
2006 年 6 月末集团个人贷款品种结构 
住房贷款 汽车贷款 信用卡及其他 
2006 年 6 月 30 日 79.07% 4.50% 16.43% 
2005 年 12 月 31 日 78.97% 5.35% 15.68% 
注：(1)其他主要包括个人投资经营贷款和个人助学贷款。 
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财富管理 2006 年上半年，本行在境内理财中心推出了“中银理财全球服务”内容， 
达到统一服务标准的理财中心超过 250 家，可向中银理财贵宾客户提供预约服务。推出了一 
系列与汇率、石油、黄金挂钩的外汇理财产品，以及与汇率、黄金挂钩的人民币结构性理财 
产品。建立了“中银理财”专家顾问团，由本行全球金融市场部、个人金融部等相关部门， 
中银香港、中银国际、中银证券等 20 余名专家组成，支持“中银理财”品牌推广及客户教育。 
加强理财从业队伍建设，境内分行理财客户经理已超过 2300 人，其中近 900 人获得金融理 
财师资格认证。 
银行卡业务 
本行为客户提供包括的单双币种借记卡、准贷记卡、贷记卡和代理外卡交易等银行卡服 
务。 
2006 年上半年，本行稳步推进与苏格兰皇家银行集团有限公司（rbs）合作的信用卡业 
务单元的建设工作，加强银行卡业务经营管理和风险管理，提高银行卡单卡交易量和活动率， 
稳步提高银行卡业务收入。境内行累计实现银行卡手续费收入 9.6 亿元人民币，同比增长 
51.4%。 
截至 2006 年 6 月末，境内行累计发行长城人民币借记卡 9463.38 万张，中银长城卡 703 
万张，中银信用卡 109 万张，分别比去年同期增长 15.2％，12.5％和 561％。外卡收单交易 
额实现 104.82 亿元人民币，同比增长 16.6％。长城人民币卡直消额实现 651 亿元人民币， 
同比增长 47.7%。 
2006 年上半年，本行继续加大银行卡业务产品创新，先后推出了具备分期付款功能的标 
准人民币贷记卡-中银都市卡，中银久光 jcb 联名信用卡、中银北大信用卡、中银金鹰联名 
卡等产品，同时与大型企事业单位合作联名推出了长城嘉实基金联名卡、长城中升联名卡等 
项目，该类产品的推出，取得了良好的市场效果。 
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境内行长城人民币卡直接消费额 （单位：亿元人民币） 
2006年6月30日 2005年6月30日 
直接消费额 650.9 440.8 
资金业务 
本行从事自营资金的投资和交易，同时为公司及个人客户提供资金产品及服务。在外汇 
资金业务方面，本行在国内商业银行界处于领先地位。 
本行的投资业务涵盖本外币债券、货币市场、衍生产品和资产管理领域；交易业务包括 
外汇交易、外汇掉期交易、结售汇、外汇期权交易、外币债券及衍生产品交易、本币债券交 
易、贵金属交易等。本行拥有一批经验丰富的交易人员及资金业务风险管理人员，在盈利的 
同时保障资金风险处于可控范围之内。 
新产品的开发和报价能力是本行主要竞争优势之一。近年来，央行陆续推出了人民币做 
市商制度、外汇一级交易商、询价交易方式、远期、即期、利率掉期、银行间人民币外汇掉 
期交易等多项举措，人民币汇率形成机制的市场化进程明显加快。此后，中国人民银行、中 
国银监会和国家外汇管理局又发布了《商业银行开办代客境外理财业务管理暂行办法》，本行 
成为首批获准开办代客境外理财业务并获额度最大的银行。本行充分利用资金业务优势，逐 
步提高资金产品的设计能力。特别是通过开发及提供量身定制的资金产品和服务吸引更多的 
优质客户。２００６年上半年，面对激烈的市场竞争，本行积极开拓资金产品及业务。相继 
开展了人民币利率掉期业务、超远期结售汇业务等，同时针对国内理财市场的巨大潜力，推 
出了人民币结构性理财产品包括“博弈”零售理财产品、“奥运概念”理财产品系列。针对公 
司客户的理财需求，本行适时推出了“四季远期”、“信用花园”等理财产品。本行推出的“汇 
聚宝”个人外汇理财系列产品连续两年被国内专业财经网站“和讯网”授予“国内最佳理财
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品牌”称号。 
黄金交易是本行重要资金业务之一。截至 2006 年 6 月 30 日，本行在国内唯一的黄金交 
易所――上海黄金交易所的市场份额为 37%，是国内黄金交易之冠。 
中银香港业务 
中银香港为本行在香港设立的子公司，本行持有中银香港 65.87%的股权。中银香港是香 
港主要商业银行之一亦是香港三家发钞银行之一。截至 2006 年 6 月末，中银香港拥有分行 
共 302 家，其中香港分行 287 家，內地分支行 14 家，海外分行 1 家；自动柜员机(atm)数 
目共 454 部。中银香港通过其广泛的服务网络向零售客户和企业客户提供全面的金融产品与 
服务。2006 年上半年，中银香港收购中银集团保险持有的中银集团人寿的 51%股权，进一步 
扩大了服务领域并开拓了新的收入来源。2006 年上半年，中银香港实现净利润折合人民币 
45.70 亿元（扣除少数股东损益后），同比增长 14.5%。 
2006 年上半年，外围经济的有力支持及中国经济的强劲增长带动香港经济继续快速增 
长，就业市场改善、市民收入增加、投资市场活跃。得益于良好的经济环境，中银香港上半 
年盈利取得稳步增长，与去年同期比较，净利息收益率上升，非利息收入有较大增长，其中 
代理投资业务表现突出，成本收入比率保持市场低位。 
存款业务继续保持优势，结构趋于优化。截至 6 月末，客户存款余额为 6509.94 亿港元， 
较上年末上升 1.9%。受利率上升等因素的影响，住房按揭贷款需求受到抑制，市场竞争进一 
步加剧，放款轻微减少 0.2%；面对信贷业务发展不利的环境，中银香港着力优化授信组合， 
改善流程管理，中小企业贷款稳步增长。银团贷款市场份额名列前茅。在香港及澳门银团贷 
款市场位居第二名，在香港及中国银团贷款市场排名第三。 
2006 年上半年中银香港继续保持香港人民币业务的市场领导地位，并于各类人民币业务 
领域持续取得理想的成绩。人民币存款于 2006 年上半年轻微增长 0.1%。人民币信用卡发卡
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业务居主导地位，业务量增长 60.3%。截至 2006 年 6 月底，提供人民币提取服务的自动柜员 
机数目增至 236 台。2006 年 3 月，人民币交收系统正式推出，为人民币业务提供了一个优越 
的清算平台，并为香港人民币业务的进一步发展奠定基础。人民币个人支票服务的推出，为 
客户提供了更加灵活便捷的消费新模式。中银香港充分利用与母行的合作协同效应，以创造 
长期持续的理想资本回报率及股东最大效益为发展动力，继续开发高素质产品及服务。 
投资银行业务 
中银国际是中国银行在香港设立的全资附属子公司，在全球拥有 30 家附属机构。中银国 
际是一家拥有较强投资银行专业队伍、独立国际配售网络的全功能投资银行。 
2006 年上半年，中银国际实现利润总额折合人民币 11.10 亿元，同比增长 446 %。2006 
年上半年，中银国际以独家/联席牵头经办人的角色参与了中国银行等 6 个 ipo 上市项目， 
集资额占香港股票承销市场总集资额的 28.5%。中银国际在 2006 年上半年新股承销榜上取 
得融资总金额及完成上市项目数量第一名。中银国际通过中银国际英国保诚资产管理有限公 
司（简称“中银保诚”）提供广泛的资产管理服务。截至 2006 年 6 月末，中银保诚资产管理 
公司管理的总资产额为 268.5 亿港元，较 2005 年年末增加 15 亿港元，增长率为 5.9%。在 
强积金业务方面，中银保诚拥有超过 46 万计划登记成员，资产值逾 140 亿港元，以管理资 
产金额计算，中银保诚约占市场额 8%左右。 
中银国际证券有限公司（简称“中银国际证券” ）于 2002 年 3 月成立，是首家获得 a 
股综合类证券商牌照的中外合资证券公司。截至 2006 年 6 月 30 日，中银国际证券承销额位 
居券商第一名；参与了国开行 15 期金融债的承销工作，承销额位居券商第一名；同期完成的 
债券交割量位居券商第二名。 
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保险业务 
本行从事的保险业务包括寿险及非寿险。非寿险业务由本行全资持有，寿险业务由本行 
与子公司中银香港共同持有并经营。 
中银集团保险及中银集团人寿保险有限公司（简称“中银集团人寿”）负责具体经营本集 
团的保险业务。 
2006 年上半年，本集团保险业务实现毛保费收入 6.48 亿港元；实现利润总额折合人民 
币 3.88 亿元，同比增长 189%，业务来源主要包括银行代理业务及经纪代理业务两大类。 
毛保费收入来源分析 单位：百万港元 
2006 年 6 月 30 日 2005 年 12 月 31 日 2005 年 6 月 30 日 
银行代理毛保费收入 293 514 283 
经纪代理毛保费收入 355 752 402 
合 计 648 1,266 685 
为了开拓更专业化的产品市场，中银集团保险于 2006 年起积极拓展董事责任保险、专 
业人员责任险等专业责任保险、同时响应政府提倡的“用者自付”医疗改革举措，筹划推出 
了一系列贴身医疗保险计划。2006 年上半年，为了拓展海外业务，中银集团保险收购了联丰 
亨保险有限公司 32%的股权，藉此涉足澳门市场，开展产寿险业务。为了进一步提升商业银 
行、投资银行及保险业务三业并举的理念及加强银保的业务联动，2006 年 6 月，中银集团保 
险出让了中银集团人寿 51%股权予中银香港，为中银集团人寿业务的发展奠定了新的里程碑。 
信息科技 
本行充分认识到信息科技的进步对本行未来发展的重要性。2006 年上半年，本行信息科 
技工作继续以支持业务发展及安全生产为核心目标。推进了管理信息系统、网上银行新平台、 
国际结算及贸易融资集中化系统等重大 it 项目建设。同时启动了位于北京的新的信息中心及 
位于上海的灾难备份中心的基础设施建设工作。it 蓝图项目有条不紊的开展，启动了系统培
46 
训、差距分析及压力测试等基础性工作。it 蓝图建设的有力推进，关系到本行改革、发展和 
创新的全局。it 蓝图的实施将实现本行分支机构网络业务操作信息逻辑集中化处理，以加强 
本行内部管理、风险防范及内部稽核的适时监控力度，使本行内控制度更趋完善，业务和管 
理流程实现以客户为中心、管理线条化模式。it 蓝图项目的稳步实施将为全面增强本行竞争 
能力、全面提升内部管理与控制水平构建强大的信息基础平台。 
风险管理 
综述 风险管理是本行管理架构中重要的部分，良好的风险管理是本行持续健康较快发 
展的重要保证。2006 年上半年，本行进一步提高风险管理实力，优化授信资产结构，改善授 
信资产质量，促进授信业务持续健康较快发展。 
风险管理架构 本行董事会及其下属风险政策委员会，管理层下设的内部控制委员会、 
反洗钱工作委员会、资产负债管理委员会和资产处置委员会，风险管理部、授信执行部、资 
产负债管理部、法律与合规部等相关部门共同构成本行风险管理的主要组织架构。本行通过 
垂直管理模式管理分行的风险状况，通过窗口风险管理模式管理业务部门的风险状况，通过 
委任子公司的董事会或风险管理委员会的若干成员，监控及控制子公司的风险管理。 
信用风险 
信用风险是因借款人或交易对手未能或不愿意履行偿债义务的风险。本行的信用风险 
主要来源于贷款、贸易融资和资金业务。 
本行管理信用风险的流程可分为三个主要环节：（1）信贷发起和评估；（2）对信用风险 
的审查和批准；（3）贷款发放和贷后管理。 
公司授信 对于公司授信业务，本行执行独立的尽责审查、民主的风险评审、严格的问 
责审批和后评价为内容的“三位一体”授信决策机制。 
47 
2006 年上半年，本行继续推进授信集中审批机制改革，陆续实施授信集中审批。调整了 
海外机构授信审批权限和授权管理模式，加强了对客户的授信总量风险控制。为促进小企业 
授信业务的持续健康发展，本行进一步明确小企业授信准入条件并已启动分行试点工作。 
本行实行客户信用评级与授信资产风险分类有机联系的二维评级体系。客户评级结果是 
授信授权管理、客户准入退出管理、授信审批、授信定价、授信资产风险分类的重要依据。 
本行计划下半年开始基于 pd（违约概率）的客户信用评级模型的测试和推广工作。截至 2006 
年 6 月 30 日，本行境内机构 a 类客户授信余额占比 43.7%，较上年末提高 1.8 个百分点。 
2006 年上半年，本行建立了大额授信客户风险评估标准并制订了管理措施，完善了集团 
客户授信风险管理。根据国家宏观调控政策和房地产市场情况，加强了对行业风险的监控及 
房地产授信业务的管理，房地产贷款的资产质量稳步改善。 
贷款五级分类是本行持续信贷监控的重要环节。本行从 1999 年开始实施授信资产五级分 
类制度。本行上半年继续对关注类贷款按“高、中、低”风险进行细分并管理，分类结果的 
客观性进一步提高，关注类贷款余额和占比继续下降。 
个人贷款 2006 年上半年，本行全面完成个人质押贷款和国家助学贷款以外的其他个 
人贷款审批权限向一级分行的集中工作。同时加强了对个人贷款的风险监控，包括对个人贷 
款在地区、产品等组合层面的全面监控，对高风险楼盘、高风险经销商以及高风险客户的重 
点监控和风险报告。 
本行主要采取协商谈判、法律诉讼、债务重组、核销等各种方式向不良债务人追偿债务； 
普遍应用拍卖、招投标、协议转让等公开、透明市场方式加紧对实物资产的处置。 
市场风险 
市场风险是指因市场价格包括利率、汇率、股票价格和商品价格的不利变动而使银行表 
内和表外业务发生损失的风险。市场风险存在于银行的交易和非交易业务中。本行通过市场
48 
风险限额进行管理，风险限额参照不同的风险因素，例如：利率、汇率、商品及股票价格等。 
采用多种风险计量技术，如敏感度限额等制订具体管理措施。 
涉险值是一种统计学方式，用以在一段特定时间内，按指定的置信度，估量由于利率、 
汇率、商品及股票价格波动而可能对风险持仓所造成的潜在的损失。下表为截至 2006 年 6 
月 30 日止本行境内业务外币交易组合(不涵盖本行的较大金额投资帐户或银行帐户)的风险价 
值分析结果: 
单位：百万美元 
截至 2006 年 6 月 30 日 截至 2005 年 12 月 31 日 
期末 平均 高 低 期末 平均 高 低 
利率风险 4.88 8.10 16.25 0.82 4.77 3.27 11.94 0.20 
汇率风险 2.64 3.67 14.12 0.78 0.39 2.7 18.69 0.34 
波动风险 0.19 0.68 4.63 0.16 0.36 0.8 2.54 0.04 
市场风险总额 5.84 8.10 19.15 1.84 15.6 5.1 18.86 0.69 
利率风险管理 利率风险是利率波动造成利息收入或资产价值遭受损失的风险。本行主 
要通过缺口分析来评估银行账户的利率风险状况。通过定期监测缺口状况，并利用缺口数据 
进行压力测试，以此调整计息资产与计息负债的重新定价期限结构。同时，本行密切关注本 
外币利率走势，紧跟市场利率变化，适时调整本外币存贷款利率，努力防范利率风险。 
对于资金业务，本行采用风险价值、持续期和基点价值等技术计量利率风险，并运用压 
力测试和情景分析方法监控风险。本行还通过设定风险限额，对限额执行情况进行监控和管 
理。目前本行已建立了全球统一的资金业务内控中台，依托先进的市场风险管理系统，对本 
行各主要分支机构资金业务的市场风险进行有效的监控。 
汇率风险管理 本行对汇率风险的管理涵盖非交易性帐户及交易性帐户的风险管理。 
非交易性汇率风险主要来自于资产与负债货币错配、外汇资本金、海外附属机构投资以及 
外币盈利或亏损。本行通过资金来源和运用的货币逐一匹配的方式尽量减少资产负债货币 
错配产生的汇率风险，辅之以结汇或考虑对冲交易的方式管理和控制汇率风险。然而，本 
行对外币头寸可实施的控制措施有限，因为人民币为非自由兑换货币。按照中国政府现行
49 
的外汇管理政策，外汇兑换需要中国政府有关部门的批准。本行针对降低外汇头寸采取了 
如下方式: 
2005 年与中央汇金投资有限责任公司签署了一份外币期权合同，名义本金为 180 亿美 
元，对部分资产负债表的外汇头寸净额进行了经济套期保值。 
截至 2006 年 6 月 30 日止期间，本行通过叙做外汇交易，降低外汇头寸净额 33 亿美 
元。 
在资产负债表日后，截至２０06 年 8 月，本行通过叙做外汇交易，进一步降低外汇头 
寸净额 142 亿美元。 
本行交易性帐户的风险主要来自本行自主或经营外汇交易业务面临的风险，对于交易 
性帐户的风险管理，本行则根据自身风险承受能力和经营能力，结合多种手段合理承担。 
通过总量控制、结构管理、额度管理、预测和估值等管理手段，有效降低市场不确定因素 
造成损失的可能性。 
流动性风险 
流动性风险是指无法以合理价格获取资金，满足到期债务支付需求的风险。 
本行流动性管理的目标是：确保任何时候都拥有充足的流动性，以满足存款和其他到期 
债务的支付以及资产业务发展的需要，以及在有业务发展机会或有紧急情况时，有足够的能 
力在一定的时间内以合理的成本融入资金。 
本行的流动性管理贯彻一级法人管理原则，全行的流动性管理实行自上而下、一级管一 
级、一级保一级的管理顺序。流动性管理的内容，包括正常经营环境下的管理和应对突发事 
件或极端情况下的应急措施。前者主要通过定期更新的管理政策指引、流动性指标管理、流 
动性缺口管理、头寸管理、总分行间资金往来管理、流动性资产组合管理和融资指导原则等 
手段，确保全行资产负债业务的正常开展，同时把全行流动性水平调控到适当的水平之上；
50 
后者主要通过预警指标、应急方案、融资能力测试等手段，达到及时发现和化解风险的目的。 
2006 年上半年，本集团的资产负债业务平稳健康发展，流动性状况良好。截至 2006 年 
6 月 30 日，反映流动性状况的有关指标均达到监管要求，具体如下表： 
2006/6/30 本币 外币 
流动性比例： 32.03% 45.88% 
境内行贷存比： 56.47% 71.95% 
超额备付率★： 2.58% 17.07% 
★存款准备金是指金融机构为保证客户提取存款和资金清算需要而准备的在中央银行的存款，中央银行要求的存款准 
备金占其存款总额的比例就是存款准备金率。 
存款准备金及存款准备金率包括两部分，中央银行规定的存款准备金率被称为法定存款准备率，目前为 7.5%，即接受存 
款的商业银行必须把存款的 7.5%上存中央银行，与法定存款准备率对应的准备金就是法定准备金。超过法定准备金的准备 
金叫做超额准备金(国内习惯于称其为备付金)，超额准备金与存款总额的比例是超额准备率(国内常称之为备付率)。 
以上流动性比率依据中国人民银行及银行业监督管理委员会的相关规定进行计算，财务数据按照中国企业会计准则及 
《金融企业会计制度》要求编制。 
内部控制与操作风险 
内部控制 本行致力于不断完善内部控制体系，构建由职能管理、合规控制和内部稽核 
组成的内部控制三道防线。明晰各业务单位岗位职责，在管理架构上为有效防范风险、科学 
配置资源提供保证。 
本行内控建设的总目标是：以完善的内部控制组织体系为保障，以体现制衡原则、健全 
有效的制度为基础，以精细化的过程控制为着眼点，以激励约束机制和问责制为引导，以信 
息科技手段为依托，大力培育合规文化，努力构建本行全面系统、动态、主动和可证实的内 
部控制体系。 
根据中国人民银行《商业银行内部控制指引》规定，本行从内部控制环境、公司业务、 
资金业务、个人金融业务、 电子银行、银行卡、人力资源等不同业务及管理层面入手，不断 
强化内部控制措施，健全内部控制机制。同时，建立内部控制关键指标监测制度，对轮岗、 
代职、业务差错等内控关键指标进行重点监测及定期报告。 
51 
操作风险 操作风险是指由不完善或有问题的内部程序、人员及系统或外部事件所造成 
损失的风险。2006 年上半年，本行与战略投资者苏格兰皇家银行开展了操作风险管理框架合 
作项目。初步探索适合本行实际情况的操作风险管理架构。制定了包括操作风险与控制评审、 
关键风险指标、重大事件报告等在内的工作流程。启动了操作风险与控制评估及关键风险指 
标的试点工作。 
内部稽核 为了更充分地发挥内部稽核在公司治理中的积极作用，2006 年上半年， 
本行聘请独立的外部咨询机构，参照国际内部审计行业最佳实践对本行稽核工作进行了整体 
评估，并结合评估结果和监管机构的要求，开始实施从稽核组织架构、管理方式、报告路线 
到实务技术标准的全方位改进，着力构建董事会及稽核委员会的领导下的垂直、独立、有效 
的新稽核体系。与此同时，本行继续加大稽核检查的深度，关注高风险领域和内控薄弱环节 
的改进，有效促进内部控制有效性的不断提升。按照以常规稽核为主导，辅之以专项稽核和 
个案调查的稽核计划和统计体系，境内外各级稽核部门在兼顾检查广度的同时强化检查深度。 
2006 年上半年，对 6 个海外机构，9 个一级分行，115 个二级分行，689 个城区支行和 957 
个县支行进行了常规稽核，同时完成专项稽核 1,172 个（其中经济责任稽核 850 个），个案调 
查 31 个。 
资本管理 
本行资本管理的目标是通过对各类资本的有效筹划，保证本行的资本符合外部监管、信 
用评级、风险补偿和股东回报的要求；同时，充分利用资本工具和资本管理手段持续优化资 
本的财务效率，提升股本价值，实现以风险控制为基础的股东价值最大化。在报表披露的经 
营期间，本行及集团的资本水平符合各项法定要求。 
52 
展望 
下半年，我国经济将继续保持较快增长的态势，这为本行的经营提供了良好的宏观环境。 
面对新形势、新任务，本行将加强战略研究，努力保持各项业务平稳较快增长，确保按计划 
完成年初确定目标，同时根据资本市场的要求，实施变革管理。在业务发展方面，本行将大 
力发展中间业务，加快发展个人金融业务，进一步优化业务结构和收入结构。稳健发展优质 
公司资产业务，把握好业务发展的速度和节奏，完善主动负债管理，降低资金成本，提高服 
务水平。在风险管理方面，本行将进一步加强全面风险管理，完善内部控制体系，构建由职 
能管理、合规控制和内部稽核组成的内部控制三道防线。在基础建设方面，本行将深化组织 
架构改革和流程整合，加快 it 蓝图实施。在人力资源方面，本行将继续推进人力资源改革， 
加强领导班子建设和员工队伍建设。 
53 
公司基本情况简介 
法定中文名称：中国银行股份有限公司 （简称：中国银行，下称“本行”） 
公司法定英文名称：bank of china limited （简称：bank of china） 
法定代表人：肖钢 
董事会秘书：杨志威 
合资格会计师 ：梁剑兰 
授权代表：李礼辉 
杨志威 
合规顾问：高盛(亚洲)有限责任公司 
瑞士银行，通过其业务集团瑞银投资银行营运 
联系地址：中国北京市复兴门内大街 1 号 
联系电话：010-66596688 
传真：010-66016871 
电子信箱：bocir@bank-of-china.com 
注册地址：中国北京市复兴门内大街 1 号 
办公地址：中国北京市复兴门内大街 1 号 
邮政编码：100818 
香港营业地点：香港中环花园道 1 号中银大厦 8 楼 
信用评级 (长期) 
标准普尔： bbb+ 日本评级及投资信息公司： a – 
穆迪投资服务： a2 大公国际资信评估有限公司： aaa 
惠誉国际评级： a – 
54 
国际互联网网址 http://www.boc.cn 
选定的信息披露报纸《中国证券报》《上海证券报》《证券时报》《中国日报》 
香港报纸：香港《南华早报》《信报》 
刊登半年度报告的中国证监会指定网站：http://www.sse.com.cn 
刊登半年度报告的香港联合交易所网站：http://www.hkex.com.hk 
半年度报告备置地点：主要营业场所 
指数成份股 
本公司为下列指数之成份股： 
摩根士丹利资本国际 (msci) 中国指数 
上海证券交易所指数系列 
新华富时中国 25 指数 
新华富时香港指数 
恒生中国企业指数（"h 股指数"）（由 2006 年 9 月 11 日起生效) 
股份代码： 
h 股： 
香港联合交易所有限公司 3988 
路透社 3988.hk 
彭博 3988 hk 
a 股： 
上海证券交易所 601988 
路透社 601988.ss 
彭博 601988 ch 
股份过户登记处 
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h 股：香港中央证券登记有限公司 
香港湾仔皇后大道东 183 号 
合和中心 46 楼 
a 股：中国证券登记结算有限公司上海分公司 
上海市浦东新区陆家嘴东路 166 号 
中国保险大厦 36 楼 
其它有关资料 
首次注册登记日期：1983 年 10 月 31 日 
变更注册日期：2004 年 8 月 26 日 
首次注册登记机关：中华人民共和国国家工商行政管理局 
企业法人营业执照注册号：1000001000134 
金融许可证机构编码：b10311000h0001 
税务登记号：京国税西字 110102100001342 
地税京字 110102100001342000 
聘请的国内会计师事务所名称：普华永道中天会计师事务所有限公司 
会计师事务所办公地址：上海市湖滨路 202 号普华永道中心 11 楼 
邮编：200021 
聘请的国际会计师事务所名称： 罗兵咸永道会计师事务所 
会计师事务所办公地址：香港中环太子大厦 22 楼 
主营业务范围：吸收人民币存款；发放短期、中期和长期贷款；办理结算；办理票据贴 
现；发行金融债券；代理发行、代理兑付、承销政府债券；买卖政府债券；从事同业拆借； 
提供信用证服务及担保；代理收付款项及代理保险业务；提供保管箱服务；外汇存款；外汇 
贷款；外汇汇款；外币兑换；国际结算；同业外汇拆借；外汇票据的承兑和贴现；外汇借款；
56 
外汇担保；结汇、售汇；发行和代理发行股票以外的外币有价证券；买卖和代理买卖股票以 
外的外币有价证券；自营外汇买卖；代客外汇买卖；外汇信用卡的发行和代理国外信用卡的 
发行及付款；资信调查、咨询、见证业务；组织或参加银团贷款；国际贵金属买卖；海外分 
支机构经营当地法律许可的一切银行业务；在港澳地区的分行依据当地法令可发行或参与代 
理发行当地货币；经中国银行业监督管理委员会等监管部门批准的其他业务。 
本报告分别以中、英文编制，在对中英文文本的理解发生歧义时，以中文文本为准。 
57 
董事、监事、高级管理人员和员工情况 
董事、监事和高级管理人员情况 
名誉董事(1) 
姓名 职务 
陈慕华 名誉董事长 
庄世平 名誉副董事长 
董事会 
姓名 职务 
肖钢 董事长 
李礼辉 副董事长兼行长 
张景华 非执行董事 
俞二牛 非执行董事 
朱彦 非执行董事 
张新泽 非执行董事 
洪志华 非执行董事 
黄海波 非执行董事 
frederick anderson 
goodwin爵士 非执行董事 
佘林发 非执行董事 
华庆山 执行董事、副行长 
李早航 执行董事、副行长 
梁定邦 独立非执行董事 
william 
peter cooke 独立非执行董事 
patrick de 
saint-aignan 独立非执行董事 
alberto togni 独立非执行董事 
58 
注：（1）根据中国法律，名誉董事不属于董事会成员，根据本行章程，他们对于本行董事会考虑的任何事宜均无权投票。 
监事会 
姓名 职务 
刘自强 监事会主席 
王学强 专职监事 
刘万明 专职监事 
李春雨 职工监事 
刘钝 职工监事 
高级管理层 
姓名 职务 
李礼辉 行长 
华庆山 执行董事、副行长 
李早航 执行董事、副行长 
周载群 副行长 
张燕玲 副行长 
张林 纪委书记 
朱民 行长助理 
诸鑫强 行长助理 
王永利 行长助理 
lonnie dounn* 信贷风险总监 
(* 于2006年4月提出辞任，2006年9月生效) 
杨志威 董事会秘书 
59 
人力资源与管理 
机构与员工数量 截至 2006 年 6 月末，本行境内外机构共有 11,543 家，比年初 
减少 103 家。其中境内分支机构 10,907 家，比年初减少 111 家，境外分支机构 635 家，比 
年初增加 8 家。 
截至 2006 年 6 月末，本行在岗员工总数为 197,636 人，比年初减少 11,629 人。其中境 
内机构员工 179,453 人，比年初减少 11,375 人。境外机构本地雇员 18,183 人，比年初减少 
254 人。此外，本行境内机构中尚有劳务派遣用工 28,769 人。 
人力资源管理 2006 年上半年，本行继续深化各项人力资源管理改革，不断完善人 
力资源管理体系。积极推进境内外分行、附属机构和总行部门管理层调整配备工作，启动领 
导力模型开发工作，做好后备队伍建设。深化全行职位聘任改革，通过职位聘任，逐步形成 
竞争择优的用人机制。加强人员结构数量调控，不断优化人员结构。利用校园招聘、社会招 
聘等多种渠道补充招聘人选，满足业务发展和经营管理的需要。完善全面薪酬体系，积极指 
导境内分行进行薪酬改革方案设计和薪酬水平测算，推进薪酬改革落地，启动企业年金建设 
工作，初步建立了长效、规范的补充养老机制。加强绩效管理工作，运用平衡计分卡方法， 
设定分行的绩效指标，加强绩效过程管理，引导各行贯彻落实科学发展观。 
人力资源培养与开发 全面加强中高层管理人才培养。与北京大学、哈佛商学院合作 
研发高管领导力课程，派出高管人员参加苏格兰皇家银行的高管课程。 
积极开展理财规划师、金融服务营销、操作风险、资金交易结算等专业技术人才培训， 
支持和促进业务发展。加强一线员工培训和新入行员工培训。上半年共举办两天以上脱产培 
训班 2,441 期，培训 95,577 人次。 
流程整合与机构改革情况 继续推进流程整合与机构改革。对苏格兰皇家银行的组织架 
构、业务流程和运行机制进行全面考察，结合实际，深入探索和研究本行组织架构的改革方
60 
向。研究建立以公司业务、个人金融及资金业务为主的战略业务单元，加强业务的条线管理， 
同时调整分支机构的职能，逐步建立国际化大银行普遍采用的矩阵式管理模型。截至 2006 
年 6 月末，本行机构资源配置继续向重点地区倾斜，不断优化布局，共增设机构 25 家，升 
格 216 家机构，撤销 192 家经营规模小、无发展潜力的机构。 
企业文化 本行将加强企业文化建设，营造诚信之上，绩效优先，以人为本，尽职尽责， 
追求卓越的工作氛围，实现企业文化与全行经营管理的深度融合，借助企业文化建设的导向， 
激励、约束功能，实现全行战略发展目标与员工个人成长目标的和谐统一。 
公司治理 
报告期内，本行严格遵守中华人民共和国《公司法》、《商业银行法》等相关法律，按照 
监管部门颁布的相关法规要求，结合公司实际情况，不断完善公司治理相关制度和组织结构 
建设，优化董事会、监事会、高级管理层的职责和工作机制。公司治理各层级按照《公司章 
程》赋予的职责，依法独立运行，履行各自权利、义务。 
股东大会 
本行严格按照有关法律法规和本行章程要求召集、召开股东大会，确保全体股东充分、 
平等地享有知情权、参与权和表决权。2006 年上半年，本行召开了一次年度股东大会及四次 
临时股东大会，就董事会及监事会工作报告、经营计划及财务预算、利润分配方案等议案进 
行审议，股东大会为推进本行发展、保护投资者及其他利益相关者的权益等发挥了重要作用。 
董事及董事会 
2006 年上半年，本行增补了 1 名独立非执行董事和 1 名非执行董事。截至 2006 年 6 月 
30 日，本行董事会由 16 名成员组成，包括董事长及独立非执行董事 4 名、非执行董事 8 名，
61 
执行董事 3 名。报告期内，本行董事会共召开五次会议，并以通讯表决方式通过了一个决议， 
对发展战略和业务规划、利润分配方案、董事会自我评估方案、2005 年年度报告、高层管理 
人员绩效管理目标及奖金分配方案、上市发行计划、修改公司章程等议案进行了审议。全体 
董事恪尽职守，有力地保障了董事会决策的科学性，维护了公司及全体股东的利益。 
中国银行董事会下设五个专业委员会：战略发展委员会、稽核委员会、风险政策委员会、 
人事和薪酬委员会、关联交易控制委员会。五个委员会直接对董事会负责。2006 年上半年各 
专业委员会工作情况： 
专业委员会 工作情况 
战略发展委员会 
召 开 四 次 会 议 ， 主 要 审 议 了 中 国 银 行 发 展 战 略 、 中 国 银 行 
2006-2008 年业务发展规划和 2006 年业务计划和财务预算等议案。 
稽核委员会 
召开四次会议，主要审议了中国银行股份有限公司财务管理办法、 
内部控制建设、2006 年度业务计划和费用预算、审计师的聘任及 
其计划与费用、2006 年利润预测、中国会计准则和国际会计准则 
下的 2005 年度财务报告及审计师相关报告等议案。 
风险政策委员会 
召开二次会议，主要审议了 2006 年风险管理工作重点及计划、核 
心风险管理指标报告、市场风险管理进展情况等议案。 
人事和薪酬委员会 
召开二次会议，主要审议了中国银行董事会评估指引及自我评估方 
案、董事会下设专业委员会调整方案、中国银行高管人员绩效管理 
办法等议案。 
关联交易控制委员会 
召开二次会议，主要审议了中国银行股份有限公司关联交易管理办 
法、关联交易控制职责分工、关联交易控制委员会议事规则等议案。 
监事及监事会 
本行监事会由 5 名成员构成，包括监事长、2 名专职监事、2 名职工监事。监事会的人 
数、构成符合监管要求和《公司章程》。监事会通过定期召开会议、审阅各类文件、听取管理 
层的工作报告和专题汇报等方式，对公司的经营状况、财务活动进行检查和监督。 
62 
高级管理层 
高级管理层是本行的执行机构，高级管理层以行长为代表，副行长、行长助理等高级管 
理人员协助行长工作。本行高级管理层接受董事会的考核与监督。2006 年上半年，本行董事 
会审议通过了高层管理人员绩效管理目标及奖金分配方案。通过设置科学合理的考评指标， 
建立高级管理人员薪酬与风险、责任相一致，与经营业绩挂钩的考核机制，坚持激励与约束 
相统一，有效发挥高级管理人员的主观能动性。 
投资者关系管理与信息披露 
本行严格按照信息披露的要求，及时、准确、真实、完整地披露本行各项重大信息，确 
保所有股东有平等的机会获得信息。 
本行积极推进资本市场营销，把推进投资者关系管理作为重点。报告期内，本行通过组 
织投资机构见面会、媒体、分析师见面会，同时借助投资者通讯、信件、电话、传真，在本 
行互联网站开辟投资者管理专栏，以及面对面访谈等多种沟通方式，真实、准确、及时、充 
分地履行本行信息披露义务，切实维护本行投资者利益。 
重要事项 
一、报告期内本行利润分配情况 
2005 年度利润分配情况：本行 2005 年度利润分配方案已经 2005 年度股东大会通过， 
即“向截至 2005 年 12 月 31 日登记在中国银行股东名册的股东分配利润 13.75 亿元”。该分 
配方案已实施。 
根据本行 2006 年 8 月 29 日董事会决议，本行按照 2006 年 1-6 月份净利润提取 10%法 
定公积金，提取一般准备金 42.91 亿元。本行不就 2006 年 1-6 月份的净利润派发股利。 
63 
二、h 股及 a 股上市情况 
本行于 2006 年 6 月 1 日在香港联交所成功实现 h 股上市。首次公开发行 h 股数量为 
25,568,590,000 股，于 6 月 9 日行使超额配售权，发行 h 股 3,835,288,000 股，h 股发行量 
占 h 股发行后总股本的 11.9％，每股股价为 2.95 港元。此次发行本行合计筹资达到 112 亿 
美元。本行 h 股的总筹资规模为全球有史以来第四大发行，全球第一大金融股发行，亚洲除 
日本以外的最大发行，也是中国最大的全球发行。 
本行于 6 月 19 日－23 日在境内成功发行 a 股，7 月 5 日于上海证券交易所成功上市。 
发行价格为 3.08 元人民币/股。首次公开发行 a 股为 6,493,506,000 股，约占全面摊薄后总 
股本的 2.56％；募集资金总额为 19,999,998,480 元人民币，是迄今为止境内最大规模的 a 
股发行项目。 
本行首次公开发行的 h 股和 a 股规模约占发行后总股份的 14.14%；发行完成后，本行 
的总股本增加至 253,839,162,009 股，股本为 253,839,162,009 元人民币。首次公开发行 h 
股和 a 股并成功上市标志着本行的股份制改革取得了阶段性进展。本行（代码 601988）自 
2006 年 7 月 19 日起纳入上证 180、上证 50 指数。 

64 
三、股份变动和主要股东持股情况 
（一）股份变动情况表 
2006 年 1 月 1 
日 
2006 年 6 月 30 
日 
数量（股） 
配
股 
送
股 
公积 
金转 
股 增发 其他 小计 数量（股） 
一、未上市流通股份 
1 国家持有股份(发起 
人股份) 
174,128,718,217 -2,803,313,477 -2,803,313,477 171,325,404,740 
2 国家持有股份 8,514,415,652 -8,514,415,652 -8,514,415,652 
3 境内法人持有股份 
4 境外法人持有股份 35,298,644,140 -35,298,644,140 -35,298,644,140 
5 募集法人股份 
6 内部职工股 
7 优先股或其他 6,493,506,000 6,493,506,000 6,493,506,000 
未上市流通股份合计 209,427,362,357 177,818,910,740 
二、已上市流通股份 
1、人民币普通股 
2、境内上市的外资股 
3、境外上市的外资股 29,403,878,000 46,616,373,269 76,020,251,269 76,020,251,269 
4、其他 
已上市流通股份合计 0 76,020,251,269 
三、股份总数 209,427,362,357 253,839,162,009 
1、 在“优先股及其他”一栏填写的股份数量为本行于 2006 年 6 月 12 日－29 日公开发行的 a 股股 
份数量，该股份于 2006 年 6 月 29 日在中国证券登记结算有限公司上海分公司完成登记，并 
于 2006 年 7 月 5 日在上海证券交易所上市交易。 
2、 本行于 2006 年 3 月 13 日引进全国社会保障基金理事会为战略投资者，向其发行普通股 
8,514,415,652 股。2006 年 5 月，本行首次公开发行 25,568,590,000 股 h 股，在 h 股发行上市 
期间，原本行境外战略投资者持有的 35,298,644,140 股的非上市外资股、全国社会保障基金理 
事会持有的 8,514,415,652 股普通股及本行发起人汇金公司根据国家规定减持并转给全国社会 
保障基金理事会的 2,803,313,477 股普通股均转换为 h 股，并与公开发行的 h 股股份一同于 6 
月 1 日在香港联交所上市，2006 年 6 月 9 日，h 股超额配售选择权被悉数行使，涉及 
3,835,288,000 股 h 股。2006 年 6 月，本行公开发行 6,493,506,000 股 a 股。2006 年 6 月 29 日， 
本次公开发行的 a 股及本行发起人汇金公司持有的 171,325,404,740 股普通股完成 a 股登记。 
2006 年 7 月 5 日，本行 a 股股份在上海证券交易所上市。截止 2006 年 7 月 5 日，本行共有 a 
股 177,818,910,740 股， h 股 76,020,251,269 股，总股本为 253,839,162,009 股。 
（二）股东数量和持股情况 
股东总数 截至报告期末，本行股东总数(a 股＋h 股)为 1,060,828 户。其中 h 股股东 457,146 户，a 
股股东 603,682 户。 
65 
前十名股东持股情况(h 股股东持股情况乃根据 h 股股份过户登记处设置的本行股东名册中所列的股份数目) 
股份类别 占总股本比例 
序 号 股东名称 
股东性 
质 
报告期末持股数 
（截至 2006 年 6 
月 30 日） （%） 
股份质押 
或冻结数 
1 中央汇金投资有限责任公司 国有 a股 171,325,404,740 67.49% 
2 香港中央结算（代理人）有限公司 外资 h股 30,341,965,800 11.95% 
3 rbs china investments s.à.r.l. 外资 h 股 20,942,736,236 8.25% 
4 亚洲金融控股私人有限公司 外资 h 股 10,471,368,118 4.13% 
5 全国社会保障基金理事会 国有 h 股 8,377,341,329 3.30% 
6 瑞士银行 外资 h 股 3,377,860,684 1.33% 
7 亚洲开发银行 外资 h 股 506,679,102 0.20% 
8 the bank of tokyo-mitsubishi ufj ltd 外资 h 股 473,052,000 0.19% 
9 wingreat international limited 外资 h 股 420,490,000 0.17% 
10 best sense investments limited 外资 h 股 236,526,000 0.09% 
10 turbo top limited 外资 h 股 236,526,000 0.09% 
本行未知上述股东的股份存在质押或冻结的情况,未知上述股东之间关联关系。 
已上市交易股份中前 10 名股东持股情况（2006 年 7 月 5 日-a 股上市日，香港中央结算（代理人） 
有限公司持股数量统计截止 2006 年 6 月 30 日） 
序号 股东名称 已上市交易股份数量 股份类别 
1 香港中央结算（代理人）有限公司 30,341,965,800 h 股 
2 
中国工商银行－广发策略优选混合型证券 
投资基金 
70,669,000 a 股 
3 上海汇银投资有限公司 70,000,000 a 股 
4 
中国工商银行－易方达价值精选股票证券 
投资基金 
50,397,000 a 股 
5 
中国人寿保险（集团）公司－传统－普通保 
险产品 
38,765,000 a 股 
6 
中国人寿保险股份有限公司－分红－个人 
分红－005l-fh002 沪 
29,076,000 a 股 
7 
中国人寿保险股份有限公司－分红－团体 
分红－005l-fh001 沪 
23,982,000 a 股 
8 
中国太平洋人寿保险股份有限公司－分红 
－个人分红 
23,357,300 a 股 
9 
中国人寿保险股份有限公司－传统－普通 
保险产品－005l-ct001 沪 
23,260,000 a 股 
10 交通银行－华安创新证券投资基金 23,101,000 a 股 
上述股东关联关系或一致行动的说明 
除上述部分股东属于同一法人管理之 
外，本行未知上述股东之间有关联关系 
或一致行动关系。 
66 
截至 2006 年 6 月 30 日，本行根据香港《证券及期货条例》第 336 条而备存的登记册，载录下列公司 
拥有本行的权益 (按照该条例所定义者) 如下： 
股东 持股数量 股份种类 占 已 发 行 a 
股 股 本 总 额 
的百分比(%) 
占 已 发 行 h 
股 股 本 总 额 
的百分比(%) 
占 已 发 行 股 
本 总 额 的 百 
分比 
(%) 
身份 
中 央 汇 金 投 资 
有限责任公司 
171,325,404,740 a 96.35% – 67.49% 实益持有人 
苏 格 兰 皇 家 银 
行 集 团 有 限 公 
司注 1 
20,944,789,236 h – 27.55% 8.25% 应占权益及实益持有 
人 
rbs ci limited 
注 1 
20,942,736,236 h – 27.54% 8.25% 应占权益及实益持有 
人 
rbs china 
investments 
s.à.r.l. 
20,942,736,236 h – 27.54% 8.25% 实益持有人 
淡马锡控股(私 
人)有限公司注 2 
11,792,559,118 h – 15.51% 4.65% 应占权益 
全 国 社 会 保 障 
基金理事会 
11,317,729,129 h – 14.89% 4.46% 实益持有人 
瑞士银行 3,892,847,114 
132,154,877(s)* 
h – 5.12% 
0.17% 
1.53% 
0.05% 
应占权益，实益持有人 
及对股份持有保证权 
益的人 
* “s”代表淡仓 
注：1. 苏格兰皇家银行集团有限公司持有 rbs ci limited 全部已发行股本，而 rbs ci limitd 持有 
rbs china investments s.à.r.l. 51.61% 的已发行股本。因此，根据《证券及期货条例》，苏格兰皇家银行集 
团有限公司及 rbs ci limited 均被视为拥有与 rbs china investments s.à.r.l. 相同的本行权益。 
2. 淡马锡控股(私人)有限公司(「淡马锡」)持有 fullerton management pte ltd 全部已发行股本，而 
fullerton management pte ltd 持有亚洲金融控股私人有限公司全部已发行股本。因此，根据《证券及期货 
条例》，淡马锡及 fullerton management pte ltd 均被视为拥有与亚洲金融控股私人有限公司相同的本行权 
益。亚洲金融控股私人有限公司持有本行 11,785,825,118 股股份。 
除另有说明，上述全部权益皆属好仓。除上述披露外，截至 2006 年 6 月 30 日，本行根据《证券及期 
货条例》第 336 条而设之登记册并无载录其它权益或淡仓。 
四、重大关联交易 (请参见简要会计报表及审阅报告之会计报表注释中第五条 关联交 
易) 
五、除下述披露外，报告期内，本行没有发生重大收购、出售资产及资产重组事项 
报告期本行收购及出售资产、吸收合并事项如下： 
2006 年 6 月 1 日，作为本行的全资子公司中银集团保险向本行持股 65.87%的中银香港
67 
控股出售其持有的中银集团人寿的 51%股权，购买价格经参考中银集团人寿截至 2005 年 12 
月 31 日止的估值后为 9 亿港元。实际从本集团层面向中银香港控股的少数股东出售了中银 
集团人寿的 17.4%股权，并获得 1.38 亿元人民币的收益。 
本行在香港的子公司中银集团投资有限公司于 2006 年 3 月向独立第三方出售贷款，面 
值 0.63 亿元人民币，获得收入 7.23 亿元人民币，净收益 6.60 亿元人民币。 
六、重大合同及其履行情况 
报告期内，除已披露者外，本行没有发生重大托管、承包、租赁其他公司资产的事项， 
亦不存在其他公司托管、承包、租赁本行重大资产的事项。 
担保业务属于本行常规的表外项目之一。本行在开展对外担保业务时一贯遵循审慎原 
则，对担保业务质量按贷款五级分类进行风险管理。 
报告期内，本行没有发生重大委托他人进行现金资产管理事项。 
七、公司承诺事项 
报告期内，本行或持有公司股份 5%以上（含 5%）的股东没有对本行经营成果、财务状 
况可能产生重要影响的承诺事项。 
八、重大诉讼、仲裁事项 
报告期内，除已披露者外，本行未发生对经营活动产生重大影响的诉讼、仲裁事项。 
截至 2006 年 6 月 30 日，本行存在正常业务中发生的若干法律诉讼事项，经与专业法 
律机构咨询，本行管理层认为该等法律诉讼事项不会对本集团的财务状况产生重大影响。 
九、聘任、解聘会计师事务所情况 
本行聘请普华永道中天会计师事务所及罗兵咸永道会计师事务所作为法定审计师。 
十、公司、董事会、董事受处罚及整改情况 
报告期内，本行、本行董事会及董事无受中国证监会稽查、行政处罚和证券交易所公开 
谴责的情况发生。 
68 
十一、经营计划修改的说明 
报告期内，除已披露者外，本行未修改经营计划。 
十二、预测年初至下一报告期期末的累积净利润可能为亏损或与上年相比发生大幅变动 
的警示及原因 
本行预测年初至下一报告期期末的累积净利润不会亏损，与上年同期相比也不会发生大 
幅度变动。 
十三、募集资金的使用情况 
报告期内，本行募集资金情况如下： 
根据《中国银行业监督管理委员会关于中国银行股份有限公司吸收全国社会保障基金理 
事会投资入股的批复》(银监复[2006]49号)，本行于2006年3月13日向全国社会保障基金理事 
会定向溢价发行8,514,415,652股面值为每股人民币1元的普通股。全国社会保障基金理事会 
以人民币现金出资100亿元，投入资本包括股本溢价人民币14.81亿元。 
根据《中国银行业监督管理委员会关于中国银行股份有限公司变更为境外募集股份有限 
公司并境外上市的批复)》(银监复[2006]53号)和《关于同意中国银行股份有限公司发行境外 
上市外资股的批复》(证监国合字[2006]8号) ，本行于2006年6月1日和2006年6月9日向境外 
投资者溢价发行29,403,878,000股面值为每股人民币1元的境外上市外资股(h股)，并于香港 
联合交易所上市，每股发行价格为港币2.95元。 
根据《中国银行业监督管理委员会关于中国银行股份有限公司境内发行股份并上市有关 
事宜的批复)》(银监复[2006]135号) 和《关于核准中国银行股份有限公司首次公开发行股票 
的通知》(证监发行字[2006]20号)，本行于2006年6月29日向境内投资者溢价发行 
6,493,506,000股面值为每股人民币1元的普通股(a股)，并于上海证券交易所上市，每股发行 
价格为人民币3.08元。 
本行募集资金的主要用途用于补充本行资本金。 
69 
十四、稽核委员会 
本行稽核委员会全部由非执行董事组成，包括2名非执行董事和3名独立非执行董事。主 
席由独立非执行董事patrick de saint-aignan担任，委员包括朱彦、黄海波、梁定邦和peter 
cooke。 
该委员会按照独立性的原则，协助董事会对本集团的财务报告、内部控制、内部审计及 
外部审计等方面实施监督。 
稽核委员会已审阅本行中期报告，本行外部审计师已按照《独立审计实务公告第10号- 
会计报表审阅》对此中期业绩报告进行审阅。但并未按中国独立审计准则进行审计。稽核委 
员会已就中期报告采用的会计准则及做法、内部监控及财务报告等事项进行商讨。 
十五、董事和监事认购股份之权益 
截至2002年7月5日，中银香港(控股)有限公司直接控股公司boc hong kong (bvi) 
limited (「中银(bvi)」) 根据上市前认股权计划向下列董事授予认股权，根据认股权董事可 
以向中银 (bvi) 购入中银香港(控股)有限公司现有已发行股份，行使价为每股8.50港元。中 
银香港(控股)有限公司为本行附属公司，已于香港联交易所上市。该类认股权自2002年7月25 
日起的4年内归属，有效行使期为10年。认股权的25%股份数目将于每年年底归属。 
以下列出截至2006年6月30日根据上市前认股权计划向董事授予的尚未行使认股权的 
情况： 

70 
认股权数量 
授出日期 
每 股 行 
使价 
(港元) 行使期限 
于 2002 年 
7 月 5 日授出 
之认股权 
于 2006 年 1 
月 1 日 
期内 
已行使之认 
股权 
期内 
已 放 弃 之 
认股权 
期内 
已 作 废 之 
认股权 
于 2006 年 
6 月 30 日 
华庆山 2002 年 7 
月 5 日 
8.50 2003 年 7 月 25 日至 2012 
年 7 月 4 日 
1,446,000 1,446,000 ─ ─ ─ 1,446,000 
李早航 2002 年 7 
月 5 日 
8.50 2003 年 7 月 25 日至 2012 
年 7 月 4 日 
1,446,000 1,446,000 ─ ─ ─ 1,446,000 
除上文披露外，本报告期任何时间内，本行及控股公司、附属公司或各附属公司概无订 
立任何安排，使董事、监事或其配偶或18岁以下子女可以购买本行或任何其它法人团体的股 
份或债券而获益。 
董事和监事在股份、相关股份及债券中之权益 
除上文披露外，截至 2006 年 6 月 30 日，本行董事、监事概无在本行或其相关法团 (按 
香港《证券及期货条例》第 xv 部所指的定义) 的股份、相关股份或债券中拥有任何权益或 
淡仓，该等权益或淡仓是根据香港《证券及期货条例》第 352 条须予备存的登记册所记录或 
根据香港联合交易所有限公司（简称“香港联交所）证券上市规则附录十《上市公司董事进 
行证券交易的标准守则》须知会本行及香港联合交易所有限公司之权益。 
十六、购买、出售或购回本行股份 
本行于 2006 年 3 月 13 日向全国社会保障基金理事会定向溢价发行 8,514,415,652 股普 
通股。 
本行于 2006 年 6 月 1 日在香港联交所首次公开发行 h 股数量为 25,568,590,000 股，于 
6 月 9 日行使超额配售权，发行 h 股 3,835,288,000 股。 
本行于 2006 年 6 月 29 日发行 6,493,506,000 股新 a 股股份，本行 a 股股份于 2006 年 
7 月 5 日在上海证券交易所上市并开始进行交易。 
71 
除上述披露外，本行及任何附属公司概无购买、出售或赎回本行任何股份。 
十七、符合香港联交所上市规则《企业管治常规守则》 
本行致力于建立良好公司治理机制，并相信采用国际先进水平的公司治理对维护股东的 
权益至关重要。本行已按有关法律法规重组董事会和监事会。董事会对股东大会负责，并负 
责（其中包括）审批本行的业务策略和营运计划、委任高级管理层和建立本行的组织架构。 
以董事会为核心，本行亦在董事会下设多个下属委员会，履行董事会指定的职能。该等董事 
会下属委员会包括战略发展委员会、稽核委员会、风险政策委员会、人事和薪酬委员会以及 
关联交易控制委员会。本行的监事会对股东大会负责，并有责任和权力（其中包括）监督本 
行的董事会和高级管理层、审查本行的财务活动和检查本行的决策。 
本行已根据载列于香港联交上市规则附录十四《企业管治常规守则》的条文逐条对照本 
行的有关制度及实际情况。本行目前已全面符合该守则的相关守则条文，并已在绝大部份方 
面符合了该守则所列的建议最佳常规。 
十八、符合《董事进行证券交易标准守则》 
本行已采纳了香港联交所证券上市规则附录十《上市公司董事进行证券交易的标准守则》 
以规范董事及监事的证券交易事项。本行已就此事专门征询所有董事及监事，所有董事及监 
事均已确认其于期内严格遵守了该标准守则有关条款的规定。 
十九、符合中国企业会计准则及《金融企业会计制度》 
截至 2006 年上半年止的中期业绩报告符合中国企业会计准则及《金融企业会计制度》 
之要求。 
二十、中期业绩报告 
本中期业绩报告备有中、英文版。阁下可致函本行h股股份过户登记处香港中央证券登 
记有限公司（地址：香港湾仔皇后大道东183号合和中心46楼）索取按照国际会计准则编制 
的中期报告，或本行营业场所索取按照中国会计准则编制的中期报告。阁下亦可在下列网址
72 
www.boc.cn 、www.sse.com.cn 、www.hkex.com.hk 阅览本中期报告英文及中文版 
本。 
倘阁下对如何索取本中期报告或如何在本行网址上阅览该文件有任何疑问，请致电本行 
热线 (852) 28628633 及 8610-66596688。 

中国银行股份有限公司 
2006 年 1 月 1 日至 6 月 30 日止期间 
简要会计报表及审阅报告(未经审计) 

中国银行股份有限公司 
2006 年 1 月 1 日至 6 月 30 日止期间简要会计报表及审阅报告 
内容 页码 
审阅报告 1 
简要会计报表 
资产负债表 2-3 
利润表 4 
股东权益变动表 5-7 
现金流量表 8-9 
简要会计报表注释 10-65 
附件一 66 
附件二 67-71 

普华永道中天会计师事务所有限公司 
普华永道中心 11 楼 
湖滨路 202 号 
上海 200021 
中华人民共和国 
电话 +86 (21) 6123 8888 
传真 +86 (21) 6123 8800 
审阅报告 
普华永道中天特审字(2006)第 302 号 
中国银行股份有限公司全体股东： 
我们审阅了后附的中国银行股份有限公司(以下简称“贵行”)及其子公司(以下简称 
“贵集团”)2006 年 6 月 30 日的资产负债表和合并资产负债表、2006 年 1 月 1 日 
至 2006 年 6 月 30 日止期间的利润表和合并利润表及现金流量表和合并现金流量表 
及其注释(“简要会计报表”)。这些简要会计报表的编制是贵行管理当局的责任， 
我们的责任是在实施审阅工作的基础上出具审阅报告。 
我们按照《独立审计实务公告第 10 号－会计报表审阅》计划和实施审阅工作。我 
们对上述简要会计报表的审阅主要运用查询和分析性程序,因而所提供之保证程度 
低于审计。由于我们并没有实施审计工作，因此不对上述简要会计报表发表审计意 
见。 
根据我们的审阅，我们未发现上述简要会计报表在所有重大方面存在违反国家颁布 
的企业会计准则和《金融企业会计制度》及其他相关规定的情况。 
普华永道中天 
会计师事务所有限公司 
注册会计师 
中国·上海市 注册会计师 
2006 年 8 月 29 日 

中国银行股份有限公司 
2006年6月30日资产负债表 
(除特别注明外，金额单位为人民币百万元) 
2 
中国银行集团 中国银行 
资产 注释 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
未经审计 经审计 未经审计 经审计 
现金 29,811 28,644 26,684 25,144 
贵金属 40,649 30,314 39,003 28,577 
存放中央银行 三、1 340,651 316,941 314,986 284,373 
存出发钞基金 36,094 35,586 1,650 1,641 
交易性及其他公允价值变动 
计入损益的债券 三、2 110,602 107,271 81,224 82,082 
衍生金融产品资产 三、3 21,540 16,808 15,136 11,329 
存放及拆放同业 三、4 300,114 344,537 223,651 256,786 
债券投资 三、5；四、1 1,877,669 1,562,320 1,570,481 1,297,990 
贷款 三、6；四、2 2,405,536 2,235,046 2,042,201 1,868,105 
减：贷款损失准备 (88,128) (83,153) (84,753) (79,581) 
应收利息 23,187 20,408 18,726 16,107 
股权投资 三、7；四、3 14,775 15,393 69,439 66,951 
固定资产 71,208 72,978 52,169 53,392 
在建工程 3,940 3,342 3,933 3,331 
递延税款借项 三、13 17,410 17,561 17,298 17,428 
其他资产 21,875 18,810 11,076 10,384 
资产总计 5,226,933 4,742,806 4,402,904 3,944,039 

中国银行股份有限公司 
2006年6月30日资产负债表(续) 
(除特别注明外，金额单位为人民币百万元) 
3 
中国银行集团 中国银行 
负债 注释 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
未经审计 经审计 未经审计 经审计 
对中央银行负债 三、8 30,495 30,055 30,470 30,030 
发行货币债务 36,151 35,731 1,708 1,786 
衍生金融产品及公允价值变 
动计入损益的负债 三、9 101,172 91,174 80,777 76,323 
同业存入及拆入 358,349 345,233 350,337 343,574 
客户存款 三、10；四、4 4,053,024 3,703,777 3,356,973 3,009,187 
应付利息 31,485 27,024 29,559 25,291 
借入专项资金 三、11 49,622 52,164 49,622 52,164 
发行债券 三、12 60,177 60,179 60,177 60,179 
递延税款贷项 三、13 254 184 22 22 
其他负债 三、14 119,751 134,665 85,618 111,641 
负债合计 4,840,480 4,480,186 4,045,263 3,710,197 
少数股东权益 三、16 28,812 28,778 - - 
股东权益 
股本 三、17 253,839 209,427 253,839 209,427 
资本公积 三、18 76,545 3,978 75,888 3,978 
盈余公积 三、19 8,095 5,987 8,095 5,987 
一般准备及法定储备金 三、19 9,398 5,109 9,398 5,109 
未分配利润 三、19 23,837 12,585 24,494 12,585 
可供出售债券公允价值变动 
储备 三、19 (11,954) (1,380) (11,954) (1,380) 
外币报表折算差额 (2,119) (1,864) (2,119) (1,864) 
股东权益合计 357,641 233,842 357,641 233,842 
负债和股东权益总计 5,226,933 4,742,806 4,402,904 3,944,039 
后附会计报表注释为本会计报表的组成部分。 
法定代表人、董事长： 主管财会工作副行长： 
副董事长、行长： 财会部总经理： 
中国银行股份有限公司 
2006年1月1日至6月30日止期间利润表 
(除特别注明外，金额单位为人民币百万元) 
4 
中国银行集团 中国银行 
注释 
2006 年 
1-6 月 
2005 年 
1-6 月 
2006 年 
1-6 月 
2005 年 
1-6 月 
未经审计 未经审计 未经审计 未经审计 
利息收入 三、20；四、5 99,777 77,466 79,525 66,038 
利息支出 三、20；四、5 (45,301) (28,808) (33,197) (24,401) 
净利息收入 54,476 48,658 46,328 41,637 
手续费及佣金收支净额 三、21；四、6 6,841 4,518 4,762 3,029 
净交易(损失)/收入 三、22；四、7 (193) 2,993 (282) 2,250 
投资收益 三、23；四、8 1,681 149 7,652 4,840 
其他业务收支净额 三、24 1,797 361 245 12 
64,602 56,679 58,705 51,768 
业务及管理费 三、25；四、9 (23,193) (21,000) (19,715) (17,744) 
营业税金及附加 三、26 (2,987) (2,670) (2,952) (2,650) 
营业利润 38,422 33,009 36,038 31,374 
营业外收支净额 467 1,145 222 777 
扣除资产减值损失前利润总额 38,889 34,154 36,260 32,151 
资产减值损失 三、27；四、10 (4,876) (4,576) (5,680) (6,116) 
利润总额 34,013 29,578 30,580 26,035 
所得税 三、28 (12,362) (10,860) (10,937) (9,601) 
税后利润 21,651 18,718 19,643 16,434 
少数股东应享本期利润 (2,627) (2,284) - - 
净利润 19,024 16,434 19,643 16,434 
可供分配给本行股东的每股净收益 
（以元/股表示） 三、29 
— 每股基本净收益 0.09 0.09 
— 稀释后每股净收益 0.09 0.09 
后附会计报表注释为本会计报表的组成部分。 
法定代表人、董事长： 主管财会工作副行长： 
副董事长、行长： 财会部总经理： 
中国银行股份有限公司 
2006年1月1日至6月30日止期间股东权益变动表 
(除特别注明外，金额单位为人民币百万元) 
5 
未经审计 
中国银行集团 
注释 股本 资本公积 盈余公积 
一般准备及 
法定储备金 
未分配利润 
可供出售债券公 
允价值变动储备 
外币报表 
折算差额 合计 
2006 年 1 月 1 日余额 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
本期净利润 - - - - 19,024 - - 19,024 
发行普通股 三、17；三、18 44,412 72,567 - - - - - 116,979 
提取盈余公积 三、19 - - 2,108 - (2,108) - - - 
提取一般准备及法定储备金 三、19 - - - 4,291 (4,291) - - - 
可供出售债券储备净变动 三、19 - - - - - (10,574) - (10,574) 
分配股利 三、19 - - - - (1,375) - - (1,375) 
外币报表折算差额 - - - - - - (255) (255) 
其他 - - - (2) 2 - - - 
2006 年 6 月 30 日余额 253,839 76,545 8,095 9,398 23,837 (11,954) (2,119) 357,641 
后附会计报表注释为本会计报表的组成部分。 
法定代表人、董事长： 主管财会工作副行长： 
副董事长、行长： 财会部总经理： 

中国银行股份有限公司 
2006年1月1日至6月30日止期间股东权益变动表 
(除特别注明外，金额单位为人民币百万元) 
6 
未经审计 
中国银行 
注释 股本 资本公积 盈余公积 
一般准备及 
法定储备金 
未分配利润 
可供出售债券公 
允价值变动储备 
外币报表 
折算差额 合计 
2006 年 1 月 1 日余额 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
本期净利润 - - - - 19,643 - - 19,643 
发行普通股 三、17；三、18 44,412 72,219 - - - - - 116,631 
提取盈余公积 三、19 - - 2,108 - (2,108) - - - 
提取一般准备及法定储备金 三、19 - - - 4,291 (4,291) - - - 
可供出售债券储备净变动 三、19 - - - - (10,574) - (10,574) 
分配股利 三、19 - - - - (1,375) - - (1,375) 
外币报表折算差额 - - - - - - (255) (255) 
其他 三、18 - (309) - (2) 40 - - (271) 
2006 年 6 月 30 日余额 253,839 75,888 8,095 9,398 24,494 (11,954) (2,119) 357,641 
后附会计报表注释为本会计报表的组成部分。 
法定代表人、董事长： 主管财会工作副行长： 
副董事长、行长： 财会部总经理： 
中国银行股份有限公司 
2005年1月1日至12月31日止期间股东权益变动表 
(除特别注明外，金额单位为人民币百万元) 
7 
未经审计 
中国银行集团及中国银行 
注释 股本 资本公积 盈余公积 
一般准备及子公 
司法定储备金 
未分配利润 
可供出售债券公允 
价值变动储备 
外币 
折算差额 合计 
2005 年 1 月 1 日余额 186,390 - 3,140 419 17,373 (2,315) 344 205,351 
本期净利润 - - - - 16,434 - - 16,434 
本期提取 - - 75 2,480 (2,555) - - - 
可供出售债券储备净变动 - - - - - 3,349 - 3,349 
外币报表折算差额 - - - - - - (354) (354) 
2005 年 6 月 30 日余额 186,390 - 3,215 2,899 31,252 1,034 (10) 224,780 
本期净利润 - - - - 11,058 - - 11,058 
发行普通股 三、17 23,037 3,964 - - - - - 27,001 
本期提取 三、19 - - 2,772 2,210 (4,982) - - - 
可供出售债券储备净变动 三、19 - - - - - (2,414) - (2,414) 
分配股利 三、19 - - - - (26,937) - - (26,937) 
联营企业权益法核算累积影响 - - - - 2,194 - - 2,194 
外币报表折算差额 - - - - - - (1,854) (1,854) 
其他 - 14 - - - - - 14 
2005 年 12 月 31 日余额 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
后附会计报表注释为本会计报表的组成部分。 
法定代表人、董事长： 主管财会工作副行长： 
副董事长、行长： 财会部总经理： 
中国银行股份有限公司 
2006年1月1日至6月30日止期间现金流量表 
(除特别注明外，金额单位为人民币百万元) 
8 
注释 中国银行集团 中国银行 
2006 年 
1-6 月 
2005 年 
1-6 月 
2006 年 
1-6 月 
2005 年 
1-6 月 
未经审计 未经审计 未经审计 未经审计 
经营活动产生的现金流量 
收取的利息 96,998 75,995 76,906 64,952 
收取的手续费 7,505 5,919 5,218 3,701 
收回已核销贷款 986 1,823 250 607 
客户存款净增加额 349,247 246,881 347,786 248,163 
存放及拆放同业净减少额 15,392 58,072 39,448 17,039 
同业存入及拆入净增加额 13,116 45,141 6,763 20,378 
其他与经营活动有关的项目变动净额 (2,811) 392 (18,114) (10,686) 
现金流入小计 480,433 434,223 458,257 344,154 
支付的存款及同业往来利息 (39,461) (24,782) (27,550) (20,572) 
支付的手续费 (1,325) (1,397) (460) (673) 
支付给员工及为员工支付的现金 (13,670) (11,289) (11,139) (9,290) 
支付的业务管理费及其他 (7,322) (6,450) (6,399) (5,397) 
支付的所得税款 (15,279) (13,331) (14,681) (12,859) 
支付的营业税及其他税款 (3,421) (2,763) (3,387) (2,738) 
贷款净增加额 (171,476) (140,154) (175,023) (111,643) 
债券投资净增加额 (315,213) (174,485) (269,766) (148,567) 
存放中央银行净增加额 (18,820) (24,116) (24,531) (24,119) 
贵金属净(增加)/减少额 (10,335) 4,832 (10,426) 4,816 
对中央银行负债净增加/(减少)额 440 (9,777) 440 (9,776) 
借入专项资金净减少额 (2,542) (8,896) (2,542) (8,896) 
现金流出小计 (598,424) (412,608) (545,464) (349,714) 
经营活动产生的现金流量净额 
三、30； 
四、11 (117,991) 21,615 (87,207) (5,560) 

中国银行股份有限公司 
2006年1月1日至6月30日止期间现金流量表(续) 
(除特别注明外，金额单位为人民币百万元) 
9 
注释 中国银行集团 中国银行 
2006 年 
1-6 月 
2005 年 
1-6 月 
2006 年 
1-6 月 
2005 年 
1-6 月 
未经审计 未经审计 未经审计 未经审计 
投资活动产生的现金流量 
处置固定资产和其他资产所收到的现金 625 1,651 73 690 
处置股权投资所收到的现金 609 660 69 267 
分得股利或利润所收到的现金 20 36 3,894 3,340 
现金流入小计 1,254 2,347 4,036 4,297 
购建固定资产和其他资产所支付的现金 (2,190) (1,766) (1,730) (1,556) 
增加股权投资所支付的现金 (270) (1,506) (447) (49) 
现金流出小计 (2,460) (3,272) (2,177) (1,605) 
投资活动产生的现金流量净额 (1,206) (925) 1,859 2,692 
筹资活动产生的现金流量 
吸收权益性投资所收到的现金 117,423 - 116,766 - 
发行次级债券所收到的现金 - 33,930 - 33,930 
吸收少数股东权益性投资所收到的现金 86 5 - - 
现金流入小计 117,509 33,935 116,766 33,930 
偿还发行债券利息所支付的现金 (1,379) (15) (1,379) (15) 
分配股利所支付的现金 (3,266) (1,637) (1,375) - 
支付其他与筹资活动有关的现金 (238) - (238) - 
现金流出小计 (4,883) (1,652) (2,992) (15) 
筹资活动产生的现金流量净额 112,626 32,283 113,774 33,915 
汇率变动对现金流量的影响额 (1,068) (4,159) 1 (4,032) 
现金及现金等价物净(减少)/增加额 (7,639) 48,814 28,427 27,015 
现金及现金等价物－期初余额 397,112 366,142 275,623 274,215 
现金及现金等价物－期末余额 
三、30； 
四、11 389,473 414,956 304,050 301,230 
后附会计报表注释为本会计报表的组成部分。 
法定代表人、董事长： 主管财会工作副行长： 
副董事长、行长： 财会部总经理： 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
10 
一 会计报表编制及合并基础 
1 会计报表编制基础 
本会计报表按照中华人民共和国财政部（以下简称“财政部”）颁布的企业会计准则、《金融 
企业会计制度》及其相关规定编制，本中期报告应与本集团 2005 年度会计报表一并阅读。 
本中期会计报表根据财政部颁布的《企业会计准则-中期财务报告》和证监会颁布的《公开发 
行证券的公司信息披露内容与格式准则第 3 号-半年度报告的内容与格式》（2003 年修订）编 
制。 
本中期报告所采用的会计政策与编制 2005 年度报告所采用的会计政策相一致。 
2006 年 2 月，财政部发布了 39 项与国际财务报告准则趋同的企业会计准则，并要求自 2007 
年 1 月 1 日起首先在上市公司施行。本集团正在研究和详细评估该等准则体系对本集团现行 
会计政策的具体影响，并计划自 2007 年 1 月 1 日起在本集团施行该等会计准则。本集团管 
理层预期实施新发布的企业会计准则，将在以下主要方面对本集团未来年度的财务状况和经 
营成果产生影响： 
(1) 在现行中国会计准则下，股权投资按照其购买成本确认，并计提减值准备。根据新颁布的企 
业会计准则，除对子公司、联营企业及交易性股权投资以外的其他股权投资将被分类至可供 
出售证券。本集团管理层计划按新颁布的企业会计准则要求，将上述其他股权投资分类为可 
供出售证券。其中，对存在活跃市场报价的股权投资按公允价值计量，其公允价值变动确认 
在权益表中。 
(2) 在现行中国会计准则下，投资物业按历史成本扣除累计折旧及减值准备计量。根据新颁布的 
中国会计准则，投资物业可根据管理层的决定采用公允价值或历史成本扣除累计折旧及减值 
准备的方法计量，此方法一经选定不可随意更改。本集团管理层计划采用公允价值方法对投 
资物业进行计量。 
(3) 在现行会计法规下，为内退离职员工支付的在内退期间的退休福利采用现金收付制核算。根 
据新颁布的企业会计准则，当银行对内退离职人员存在未来支付福利的安排时，银行应在其 
内退时确认相应负债。该负债在资产负债表日反映银行未来支付福利的精算现值，且其变动 
在利润表中确认。 
(4) 在现行中国会计准则下，在母公司的会计报表中，对子公司的股权投资采用权益法进行核 
算。根据新颁布的企业会计准则，该等股权投资在母公司的会计报表中将采用成本法进行核 
算。 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
11 
一 会计报表编制及合并基础(续) 
2 会计报表合并基础 
合并会计报表的范围包括本行及纳入合并范围的子公司。本行重大控股子公司名单，见注释 
二、控股子公司。 
本行从取得子公司的实际控制权之日起开始将其予以合并；从丧失实际控制权之日起停止合 
并。本集团内部所有重大往来余额、交易及未实现损益已在合并会计报表编制时予以抵销。 
合并子公司的其他投资者对子公司净资产享有的权益，作为少数股东权益在合并会计报表中 
单独列示。 
如有需要，在编制合并会计报表时，本行对子公司的会计政策进行调整以确保其与本行所采 
用的会计政策相一致。 
3 分部报告 
业务分部是指由一组资产和经营活动组成的与其他业务分部中的资产和经营活动面临不同的 
风险及收益的特定组成部分。地区分部是指本集团在特定的区域经济环境下提供产品或服 
务，并且承担着不同于在其他区域经济环境下经营的风险和报酬的特定组合。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
12 
二 控股子公司 
本行主要控股子公司于 2006 年 6 月 30 日的基本情况如下。下列主要子公司均已纳入合并范 
围。所有的投资皆为本行持有的普通股。 
公司名称 注册/成立地点 出资/控股比例 注册资本/实收资本 主要业务 
(%) 
直接控股 
中银香港(集团)有限公司 中国香港 100.00 港币 34,806 百万 控股公司业务 
中银国际控股有限公司 中国香港 100.00 港币 3,539 百万 投资银行业务 
中银集团保险有限公司 中国香港 100.00 港币 1,269 百万 保险业务 
中银集团投资有限公司 中国香港 100.00 港币 200 百万 实业投资及其他 
澳门大丰银行有限公司 中国澳门 50.31 澳门元 1,000 百万 全面银行业务 
间接控股 
中银香港(控股)有限公司 (1) 中国香港 65.87 港币 52,864 百万 控股公司业务 
中国银行(香港)有限公司 中国香港 65.87 港币 43,043 百万 全面银行业务 
南洋商业银行有限公司 中国香港 65.87 港币 600 百万 全面银行业务 
集友银行有限公司 (2) 中国香港 46.43 港币 300 百万 全面银行业务 
中银信用卡(国际)有限公司 中国香港 65.87 港币 480 百万 信用卡业务 
中银集团信托人有限公司 (3) 中国香港 76.31 港币 200 百万 信托业务 
(1) 在香港联合交易所上市。 
(2) 由中国银行(香港)有限公司持有 70.49%股权。 
(3) 分别由中国银行(香港)有限公司持有 54%，南洋商业银行有限公司持有 6%，集友银行有限公 
司持有 6%和中银国际控股有限公司持有 34%股权。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
13 
三 合并会计报表主要项目注释 
1 存放中央银行 
2006年6月30日 2005年12月31日 
存放中国人民银行备付金 88,305 89,124 
存放其他中央银行 25,763 25,787 
小计 114,068 114,911 
缴存中国人民银行人民币存款准备金 203,119 182,825 
缴存中国人民银行外币存款准备金 13,549 13,595 
缴存中国人民银行财政性存款 7,876 3,355 
缴存其他中央银行存款准备金 2,039 2,255 
小计 226,583 202,030 
合计 340,651 316,941 
境内机构按规定向中国人民银行缴存人民币存款准备金、外币存款准备金和财政性存款。于 
2006 年 6 月 30 日，境内机构人民币存款准备金缴存比率为 7.5% (2005 年：7.5%)，境内 
机构外币存款准备金缴存比率为 3% (2005 年：3%)。本行对代理国库存款和代理发行国债 
款项等财政性存款全额缴存中国人民银行。中国人民银行对境内机构缴存的外币存款准备金 
和财政性存款不计付利息。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
14 
三 合并会计报表主要项目注释 (续) 
2 交易性及其他公允价值变动计入损益的债券 
2006年6月30日 2005年12月31日 
交易性债券 
政府债券 27,761 19,116 
公共实体及准政府债券 3,088 2,095 
金融机构债券 23,600 30,599 
公司债券 3,794 4,179 
小计 58,243 55,989 
其他公允价值变动计入损益的债券(在初始确认时指定) 
政府债券 9,267 10,704 
公共实体及准政府债券 11,218 12,974 
金融机构债券 26,667 19,979 
公司债券 5,207 7,625 
小计 52,359 51,282 
合计 110,602 107,271 
其他公允价值变动计入损益的债券主要包括本集团通过衍生金融产品设定经济套期保值机制 
的债券投资。该等债券投资本应在债券投资中的“可供出售债券”或“持有至到期日债券” 
项目中列示，但由于本集团衍生金融产品公允价值的变动计入利润表，为了使设定经济套期 
保值债券投资的公允价值变动与相应的衍生金融产品公允价值的变动可以在利润表中相互抵 
销，因此本集团将该类债券投资在初始确认时即指定其公允价值变动计入利润表。 
3 衍生金融产品 
本集团主要以交易及套期保值为目的叙做下列与汇率和利率相关的衍生金融产品。 
本集团持有的衍生金融产品的合同/名义金额及其公允价值列示如下。资产负债表日各种衍生 
金融工具的合同/名义金额仅提供了一个与表内所确认的公允价值资产或负债的对比基础，并 
不代表所涉及的未来现金流量或当前公允价值，因而也不能反映本集团所面临的信用风险或 
市场风险。随着与衍生金融产品合约条款相关的外汇汇率、市场利率及股票或期货价格的波 
动，衍生金融产品的估值可能产生对银行有利(资产)或不利(负债)的影响，这些影响可能在不 
同期间有较大的波动。对没有活跃交易市场的金融工具，本集团通过各种估值方法确定其公 
允价值。使用的估值方法包括贴现现金流模型分析等。在实际操作允许的限度内，各种估值 
模型仅使用可观察到的数据，如利率和汇率。但管理层需对其他参数，诸如自身和交易对手 
的信用风险、市场波动率和相关性等方面进行估计。这些可观察到的数据以及相关假设的变 
化均会对金融工具的公允价值产生影响。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
15 
三 合并会计报表主要项目注释 (续) 
3 衍生金融产品 (续) 
2006 年 6 月 30 日 合同/名义金额 公允价值 
资产 负债 
外汇衍生金融产品 
远期外汇合同 (1) 800,207 8,412 (5,040) 
场外期权 (2) 268,738 4,348 (708) 
小计 12,760 (5,748) 
利率衍生金融产品 
利率互换合同 402,830 6,194 (7,333) 
交叉货币利率互换合同 38,209 1,943 (3,980) 
场外期权 149,528 146 (1,058) 
利率期货 17,552 21 (3) 
小计 8,304 (12,374) 
权益衍生金融产品 11,223 166 (227) 
贵金属衍生金融产品 10,686 310 (412) 
衍生金融产品资产/(负债)合计 (注释三、9) 21,540 (18,761) 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
16 
三 合并会计报表主要项目注释 (续) 
3 衍生金融产品 (续) 
2005 年 12 月 31 日 合同/名义金额 公允价值 
资产 负债 
外汇衍生金融产品 
远期外汇合同 (1) 563,397 6,991 (4,813) 
场外期权 (2) 196,012 3,781 (374) 
小计 10,772 (5,187) 
利率衍生金融产品 
利率互换合同 361,332 3,132 (5,246) 
交叉货币利率互换合同 39,427 1,735 (4,131) 
场外期权 110,578 148 (215) 
利率期货 14,939 28 (34) 
小计 5,043 (9,626) 
权益衍生金融产品 15,442 14 (7) 
贵金属衍生金融产品 21,008 979 (932) 
衍生金融产品资产/(负债)合计 (注释三、9) 16,808 (15,752) 
(1) 自 2005 年起，中国人民银行选择部分国内大型商业银行(包括本行)进行外汇掉期交易。在这 
些交易中，中国人民银行即期卖出美元买入人民币，并在一年后按约定的汇率买入美元卖出 
人民币，该约定汇率反映了各笔交易初始日美元和人民币利率的差异。 
(2) 包括与中央汇金投资有限责任公司签署的合同金额为 180.00 亿美元的外币期权合同，见注释 
五、1(1)。该交易的目的是为中央汇金投资有限责任公司注资形成的美元汇率风险头寸提供 
有效的经济套期保值。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
17 
三 合并会计报表主要项目注释 (续) 
4 存放及拆放同业 
2006年6月30日 2005年12月31日 
存放同业 
存放境内同业 2,860 4,305 
存放境外同业 4,114 8,133 
小计 6,974 12,438 
拆放同业 
拆放境内银行 53,862 52,439 
拆放境内非银行金融机构 50,605 26,302 
拆放境外同业 189,217 253,904 
拆放同业原值 293,684 332,645 
拆放同业减值准备 (544) (546) 
小计 293,140 332,099 
合计 300,114 344,537 
截至2006年6月30日止，拆放同业余额中非应计拆放同业为5.44亿元 (2005年：5.46亿元)。 
拆放同业中所含的买入返售款项分类列示如下： 
2006年6月30日 2005年12月31日 
买入返售贴现票据 14,007 7,592 
买入返售债券 
政府债券 47,109 41,857 
金融机构债券 26,476 20,191 
合计 87,592 69,640 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
18 
三 合并会计报表主要项目注释 (续) 
5 债券投资 
2006年6月30日 2005年12月31日 
可供出售债券(以公允价值列示) 
政府债券 309,350 229,064 
公共实体及准政府债券 247,158 106,840 
金融机构债券 228,024 170,038 
公司债券 134,643 87,068 
小计 919,175 593,010 
持有至到期日债券(以摊余成本列示) 
政府债券 224,065 231,156 
公共实体及准政府债券 119,604 135,002 
金融机构债券 192,294 203,724 
公司债券 33,163 37,577 
小计 569,126 607,459 
分类为贷款及应收款的债券(以摊余成本列示) 
中国东方资产管理公司债券 160,000 160,000 
中国人民银行专项票据 (1) 91,612 91,530 
财政部特种国债 42,500 42,500 
短期票据 
－公共实体及准政府债券 15,260 6,096 
－金融机构债券 67,676 49,993 
－公司债券 1,825 - 
凭证式国债及其他 10,647 11,888 
389,520 362,007 
分类为贷款及应收款的债券减值准备 (152) (156) 
小计 389,368 361,851 
合计 (2) 1,877,669 1,562,320 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
19 
三 合并会计报表主要项目注释 (续) 
5 债券投资 (续) 
(1) 2006 年 6 月 22 日， 中国人民银行向本行定向发行专项中央银行票据 0.82 亿元，用于置换 
部分国务院特批债转股企业贷款。该票据期限 5 年，年利率 1.89%，未经中国人民银行批 
准，不能流通、转让、质押和过户，不能用作债务的抵偿物。 
(2) 截至 2006 年 6 月 30 日止，债券投资中包括在卖出回购合约下质押给第三方的债券 768.22 
亿元 (2005 年：496.58 亿元)，见注释九、2。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
20 
三 合并会计报表主要项目注释 (续) 
6 贷款 
(1) 贷款性质分类 
本集团依据贷款的主要担保方式进行分类的贷款结构列示如下： 
2006年6月30日 2005年12月31日 
信用贷款 578,987 475,764 
保证贷款 723,502 684,824 
抵押、质押贷款 1,103,047 1,074,458 
合计 2,405,536 2,235,046 
(2) 贷款行业分布 
2006年6月30日 2005年12月31日 
企事业贷款 
制造业 591,908 531,191 
商业、服务业 323,348 301,863 
房地产 201,585 190,297 
能源、采矿及农业 252,416 230,854 
运输业 200,503 193,428 
公共事业 104,827 91,924 
金融业 112,153 96,245 
建筑业 38,304 36,050 
其他 39,037 40,191 
小计 1,864,081 1,712,043 
消费信贷 
住房贷款 428,119 413,007 
汽车贷款 24,391 28,005 
信用卡贷款及其他 88,945 81,991 
小计 541,455 523,003 
合计 2,405,536 2,235,046 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
21 
三 合并会计报表主要项目注释 (续) 
6 贷款 (续) 
(3) 应计和非应计贷款 
2006年6月30日 2005年12月31日 
应计贷款 2,322,496 2,158,232 
非应计贷款 83,040 76,814 
合计 2,405,536 2,235,046 
(4) 截至 2006 年 6 月 30 日止，贷款余额中包括在卖出回购合约下抵押给第三方的票据 55.69 亿 
元(2005 年：119.68 亿元)，见注释九、2。 
7 股权投资 
2006年6月30日 2005年12月31日 
投资联营企业 (1) 5,673 5,100 
其他股权投资 (2) 6,675 7,043 
账面原值 12,348 12,143 
i 减：股权投资减值准备 (1,138) (1,243) 
账面净值 11,210 10,900 
交易性股权投资(以公允价值计量) (3) 3,565 4,493 
合计 14,775 15,393 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
22 
三 合并会计报表主要项目注释 (续) 
7 股权投资 (续) 
(1) 截至 2006 年 6 月 30 日止，本集团的主要联营企业列示如下： 
公司名称 
注册/成立 
地点 
出资/控股 
比例(%) 实收资本 主要业务 
华能国际电力开发公司 中国 20 美元 450 百万 建设并经营电厂及有关工程 
中银国际证券有限责任 
公司 
中国 49 人民币 1,500 百万 证券买卖及承销、证券投资咨询 
及受托投资管理业务 
中华保险顾问有限公司 中国香港 33 港币 6 百万 保险经纪 
银联通宝有限公司 中国香港 19.96 港币 10 百万 自动柜员机服务及银行私人讯息 
转换网络 
东风标致雪铁龙汽车金 
融有限公司 
中国 50 人民币 500 百万 向车辆经销商和客户提供融资、 
贷款等服务 
(2) 其他股权投资 
其他股权投资主要指本行在香港的子公司为投资目的持有的股权项目。2005 年 12 月，本行 
与中国东方资产管理公司签署协议，完成了向其划转历史形成的待清理股权投资项目。 
(3) 交易性股权投资主要是指本行在香港的子公司所持有的上市公司股票投资。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
23 
三 合并会计报表主要项目注释 (续) 
8 对中央银行负债 
2006年6月30日 2005年12月31日 
国家外汇存款 30,080 28,873 
借入中央银行款项 33 520 
对中央银行其他负债 382 662 
合计 30,495 30,055 
9 衍生金融产品及公允价值变动计入损益的负债 
2006年6月30日 2005年12月31日 
衍生金融产品负债(注释三、3) 18,761 15,752 
公允价值变动计入损益的负债 
结构性存款 75,092 70,069 
外币债券卖空 4,057 3,740 
外汇基金票据卖空 3,262 1,613 
小计 82,411 75,422 
合计 101,172 91,174 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
24 
三 合并会计报表主要项目注释 (续) 
10 客户存款 
2006年6月30日 2005年12月31日 
短期对公存款 
活期对公存款 940,638 836,763 
一年期及以下定期对公存款 527,225 486,681 
小计 1,467,863 1,323,444 
短期储蓄存款 
活期储蓄存款 734,894 667,957 
一年期及以下定期储蓄存款 1,309,567 1,243,964 
小计 2,044,461 1,911,921 
长期对公存款 32,157 26,317 
长期储蓄存款 339,763 313,703 
存入保证金 168,780 128,392 
合计 4,053,024 3,703,777 
其中，存入保证金具体列示如下： 
承兑汇票保证金 92,106 63,556 
开出信用证及保函保证金 29,206 26,785 
外汇买卖交易保证金 10,524 8,638 
其他 36,944 29,413 
合计 168,780 128,392 
11 借入专项资金 
2006年6月30日 2005年12月31日 
借入买方信贷 15,826 17,147 
借入外国政府贷款 18,076 18,414 
借入混合贷款及其他 15,720 16,603 
合计 49,622 52,164 
借入专项资金是指本行以买方信贷、外国政府贷款、混合贷款等方式，向国外同业或外国政 
府借入的长期款项。借入专项资金通常有特定商业用途，对国外同业或外国政府的借款偿付 
责任由本行承担。 
截至 2006 年 6 月 30 日止，借入专项资金的剩余期限区间为 1 个月以内到 37 年，浮动利率 
及固定利率的范围为 0.2%至 9.2%，与从该类机构获取相似开发贷款的利率一致。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
25 
三 合并会计报表主要项目注释 (续) 
12 发行债券 
发行日 到期日 利率 
2006 年 6 
月 30 日 
2005 年 12 
月 31 日 
发行债券 (1) 
1994 年中国银行美元债券 1994 年 3 月 10 日 2014 年 3 月 15 日 8.25% 
177 
179 
发行次级债券 (2) 
2004 年中国银行人民币债券 
第一期 2004 年 7 月 7 日 2014 年 7 月 20 日 4.87% 14,070 14,070 
第二期 2004 年 10 月 22 日 2014 年 11 月 16 日 4.94% 12,000 12,000 
2005 年中国银行人民币债券 
第一期 2005年 2 月 18 日 2015 年 3 月 4 日 4.83% 15,930 15,930 
第二期固定利率部分 2005 年 2 月 18 日 2020 年 3 月 4 日 5.18% 9,000 9,000 
第二期浮动利率部分 2005 年 2 月 18 日 2015 年 3 月 4 日 浮动利率 9,000 9,000 
小计 60,000 60,000 
合计 60,177 60,179 
(1) 本行和债券持有者均不可以在债券到期日以前要求赎回或偿付该等债券。 
(2) 该等人民币次级债券的索偿权排在本行的其他负债之后，先于本行的股权资本。在计算资本充 
足率时，该等次级债券可计入附属资本。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
26 
三 合并会计报表主要项目注释 (续) 
13 递延税项 
本集团对递延税项采用债务法核算，对各项时间性差异的税务影响按本集团各经营机构所在 
地税率计算。递延所得税的变动情况如下： 
2006年1-6月 2005年 
期/年初余额 
17,377 18,647 
计入当期/年利润表的递延所得税 (注释三、28) (226) (1,252) 
外币折算差额 5 (18) 
期/年末余额 17,156 17,377 
当本集团依法有权抵销所得税资产和负债，且相应所得税的征管属同一税务管辖区时，递延 
税款借项和贷项以抵销后净额在资产负债表列示。本集团经过互抵后的递延税款借项和递延 
税款贷项列示如下： 
2006 年 6 月 30 日 2005年12月31日 
递延税款借项 17,410 17,561 
递延税款贷项 (254) (184) 
17,156 17,377 
递延税款借项和递延税款贷项的组成项目列示如下： 
2006年6月30日 2005年12月31日 
递延税款借项 
资产减值准备 18,012 17,744 
交易性及公允价值变动计入损益类债券 
和衍生金融产品的估值亏损 3,902 3,046 
其他时间性差异 602 696 
小计 22,516 21,486 
递延税款贷项 
交易性及公允价值变动计入损益类债券 
和衍生金融产品的估值收益 (4,319) (3,643) 
固定资产折旧 (445) (424) 
其他时间性差异 (1) (596) (42) 
小计 (5,360) (4,109) 
净额 17,156 17,377 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
27 
三 合并会计报表主要项目注释 (续) 
13 递延税项 (续) 
(1) 主要包括中国银行对应享有的部分境外子公司2006年上半年的所得，在境内补缴所得税时确 
认的递延税款贷项5.45亿元。 
计入当期/年利润表的递延所得税由以下时间性差异组成： 
2006年6月30日 2005年12月31日 
资产减值准备 265 1,467 
交易性及公允价值变动计入损益类 
债券和衍生金融产品的估值 190 (2,338) 
其他时间性差异 (681) (381) 
合计 (注释三、28) (226) (1,252) 
14 其他负债 
本集团子公司开展保险业务。包含在其他负债中的与保险合同相关的债务余额列示如下： 
2006年6月30日 2005年12月31日 
长期保险合同 11,093 8,383 
一般保险合同 2,111 2,079 
保险总负债，净值 13,204 10,462 
15 股票增值权计划及认股权计划 
(1) 股票增值权计划 
为了激励和奖励本行管理层及其他关键员工，本行设立了一项股票增值权计划，并于2005年 
11月22日获得本行董事会及股东批准。 
本行股票增值权计划的合格参与者包括董事、监事、管理层和其他董事会指定的员工。合格 
参与者将会获得股票增值权，于授出之日第三周年起每年最多可行使其中的25%。股票增值 
权将于授出之日起七年内有效。合格参与者将有机会获得本行h股于授出之日前十天的平均 
收市价和于行使日期前十二个月的平均收市价(将根据本行权益变动作适当调整)的差额(如 
有)。该计划以股份为基础，仅提供现金结算，因此，本行不会根据股票增值权计划发行任何 
股份。 
截至 2006 年 6 月 30 日和 2005 年 12 月 31 日止，本行没有根据股票增值权计划发行任何股 
票增值权。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
28 
三 合并会计报表主要项目注释 (续) 
15 股票增值权计划及认股权计划(续) 
(2) 认股权计划和股份储蓄计划 
2002 年 7 月 10 日，本集团子公司中银香港(控股)有限公司的股东批准并采纳了认股权计划 
及股份储蓄计划。 
截至 2006 年 6 月 30 日及 2005 年 12 月 31 日止，中银香港(控股)有限公司没有根据上述认 
股权计划及股份储蓄计划授予任何认股权。 
(3) 上市前认股权计划 
根据上市前认股权计划，中银香港(控股)有限公司的直接控股股东中银香港(bvi)有限公司于 
2002年7月5日向本集团若干董事、高级管理人员和员工授予认股权。被授予者可据此向中银 
香港(bvi)有限公司购入共计31,132,600股中银香港(控股)有限公司发行在外的股份，行使价 
为每股港币8.50元。上述认股权有效行使期为10年，在自2002年7月25日起的4年内按比例授 
予。此外中银香港(bvi)有限公司不再根据上市前认股权计划授予任何认股权。本集团没有以 
现金回购或结算上述认股权的法定义务或推定义务。 
尚未行使的股票期权计划变动列示如下： 
认股权数 
董事及 
高级管理人员 其他员工 其他 * 认股权数总计 
2006年1月1日 6,142,500 10,619,250 1,446,000 18,207,750 
分类变动 239,000 (239,000) - - 
减：当期行使的认股权 - (1,994,050) - (1,994,050) 
2006年6月30日 6,381,500 8,386,200 1,446,000 16,213,700 
2005年1月1日 6,142,500 12,849,300 1,446,000 20,437,800 
减：当年行使的认股权 - (2,121,550) - (2,121,550) 
减：当年作废的认股权 - (108,500) - (108,500) 
2005年12月31日 6,142,500 10,619,250 1,446,000 18,207,750 
* 代表本集团前董事持有的认股权。 
对于截至 2006 年 6 月 30 日和 2005 年 12 月 31 日止行使的认股权，中银香港(控股)有限公 
司的股份加权平均价格为港币 15.88 元 (折合人民币 16.42 元)和港币 15.01 元 (折合人民币 
15.61 元)。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
29 
三 合并会计报表主要项目注释 (续) 
16 少数股东权益 
2006 年 1-6 月 2005年 
期初余额 28,778 27,387 
少数股东应享本期利润 2,627 5,105 
少数股东增持子公司股权 (52) 17 
向少数股东支付股利 (1,891) (2,954) 
可供出售债券公允价值变动 (342) (110) 
外币折算差额 (308) (667) 
期末余额 28,812 28,778 
17 股本 
股本金额 
2006 年 1-6 月 2005 年 
期初余额 209,427 186,390 
发行普通股 (1) 44,412 23,037 
期末余额 253,839 209,427 
股份数目 
2006 年 1-6 月 2005 年 
期初余额 209,427,362,357 186,390,352,497 
发行普通股 (1) 44,411,799,652 23,037,009,860 
期末余额 253,839,162,009 209,427,362,357 
其中： 
2006年6月30日 
境内上市流通股(a 股) (2) 177,818,910,740 
境外上市流通股(h 股) (2) 76,020,251,269 
合计 253,839,162,009 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
30 
三 合并会计报表主要项目注释 (续) 
17 股本(续) 
(1) 根据《中国银行业监督管理委员会关于中国银行股份有限公司吸收全国社会保障基金理事会 
投资入股的批复》(银监复[2006]49 号)，本行于 2006 年 3 月 13 日向全国社会保障基金理事 
会定向溢价发行 8,514,415,652 股面值为每股人民币 1 元的普通股。全国社会保障基金理事 
会以人民币现金出资 100 亿元，投入资本包括股本溢价人民币 14.81 亿元。全国社会保障基 
金理事会向本行投入资本的实收情况，已由普华永道中天会计师事务所有限公司验证，并于 
2006 年 3 月 13 日出具《中国银行股份有限公司投入资本验资报告》(普华永道中天验字 
[2006]第 14 号)。 
根据《中国银行业监督管理委员会关于中国银行股份有限公司变更为境外募集股份有限公司 
并境外上市的批复)》(银监复[2006]53 号)和《关于同意中国银行股份有限公司发行境外上市 
外资股的批复》(证监国合字[2006]8 号) ，本行于 2006 年 6 月 1 日和 2006 年 6 月 9 日向境 
外投资者溢价发行 29,403,878,000 股面值为每股人民币 1 元的境外上市外资股(h 股)，并于 
香港联合交易所上市，每股发行价格为港币 2.95 元。境外投资者向本行投入资本的实收情 
况，已由普华永道中天会计师事务所有限公司验证，并于 2006 年 6 月 29 日出具《中国银行 
股份有限公司首次发行境外上市外资股(h 股)验资报告》(普华永道中天验字[2006]第 82 号)。 
根据《中国银行业监督管理委员会关于中国银行股份有限公司境内发行股份并上市有关事宜 
的批复)》(银监复[2006]135 号) 和《关于核准中国银行股份有限公司首次公开发行股票的通 
知》(证 监发行 字[2006]20 号 ) ，本行于 2006 年 6 月 29 日向 境内 投资者 溢价 发行 
6,493,506,000 股面值为每股人民币 1 元的普通股(a 股)，并于上海证券交易所上市，每股发 
行价格为人民币 3.08 元。境内投资者向本行投入资本的实收情况，已由普华永道中天会计师 
事务所有限公司验证，并于 2006 年 6 月 29 日出具《中国银行股份有限公司首次发行人民币 
普通股(a 股)验资报告》(普华永道中天验字[2006]第 83 号)。 
(2) 所有 a 股及 h 股在重大方面均享有同等地位，附带相同权利及利益。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
31 
三 合并会计报表主要项目注释 (续) 
18 资本公积 
2006年 1-6 月 
中国银行集团 中国银行 
期初余额 3,978 3,978 
发行普通股溢价 (1) 72,567 72,219 
其他 (2) - (309) 
期末余额 76,545 75,888 
(1) 如注释三、17 (1)所述，本行溢价发行普通股。因溢价发行普通股增加的资本公积列示如下： 
2006 年 1-6 月 
中国银行集团 
中国银
行 
向全国社会 
保障基金理 
事会发行普 
通股 发行 h 股 
发行 a 
股 合计 
发行普通股募集资金总额 10,000 89,967 20,000 119,967 119,967 
减：普通股面值总额 (8,514) (29,404) (6,494) (44,412) (44,412) 
扣除发行成本前溢价 1,486 60,563 13,506 75,555 75,555 
减：发行成本 (i) (5) (2,435) (548) (2,988) (3,336) 
净股本溢价 1,481 58,128 12,958 72,567 72,219 
中国银行集团 
及中国银行 
2005 年 
发行普通股募集资金总额 27,057 
减：普通股面值总额 (23,037) 
扣除发行成本前溢价 4,020 
减：发行成本 (56) 
净股本溢价 3,964 
(i) 发行成本主要包括承销费及专业机构服务费。本行子公司中银国际亚洲有限公司承销了部分本 
行发行的 h 股并向本行按照独立第三方收费水平收取承销费用。该等承销费用在集团合并时 
予以抵销。 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
32 
三 合并会计报表主要项目注释 (续) 
18 资本公积 (续) 
(2) 本行子公司中银香港(控股)有限公司(本行持有 65.87%股权)向本行直接控股子公司中银集 
团保险有限公司(本行持有 100%股权)购买其持有的中银集团人寿保险有限公司 51%的股 
权，购买价格为 9 亿港元，并以现金支付。中银香港(控股)有限公司对该等交易溢价采纳 
权益并购法在其集团合并会计报表中计入资本公积借项，本集团在合并时予以抵销。 
19 盈余公积、一般准备及法定储备金、未分配利润以及可供出售债券公允价值变动储备 
(1) 盈余公积 
根据中国政府的相关法律规定，本行须按中国会计准则下的净利润提取10%作为法定盈余 
公积。当本行法定盈余公积累计额为本行股本的50%以上时，可以不再提取法定盈余公 
积。经股东大会批准，本行提取的法定盈余公积可用于弥补本行的亏损或者转增本行股 
本。运用法定盈余公积转增股本后，所留存的法定盈余公积不得少于股本的25%。 
此外，部分境外机构根据当地银行监管的要求从税后利润中提取法定盈余公积。 
根据2006年8月29日董事会决议，本行按照2006年上半年净利润的10%提取法定盈余公 
积，计19.64亿元。 
(2) 一般准备及法定储备金 
本行根据财政部2005年5月17日颁布的《金融企业呆账准备提取管理办法》(财金[2005]49 
号)，在提取资产减值准备的基础上，设立一般准备用以弥补银行尚未识别的与风险资产相 
关的可能性损失。该一般准备作为利润分配处理，是所有者权益的组成部分，原则上应不 
低于风险资产期末余额的1%。本行采取一般准备逐步到位的方案，计划在未来三年内提足 
该办法要求的一般准备。 
法定储备金主要是指本行子公司中国银行(香港)有限公司提取的用作防范银行一般风险的 
准备(包括未来损失或其它不可预期风险)。 
根据2006年8月29日董事会决议，本行提取一般准备金42.91亿元。截至2006年6月30日， 
一般准备金约占风险资产期末余额的0.25%。 
(3) 未分配利润 
根据 2006 年 4 月 30 日召开的 2006 年度股东大会续会后会议审议批准的 2005 年度剩余 
利润分配方案，本行派发现金股利 13.75 亿元。 
本行对截至2006年6月30日止半年度的利润不派发股利。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
33 
三 合并会计报表主要项目注释 (续) 
19 盈余公积、一般准备及法定储备金、未分配利润以及可供出售债券公允价值变动储备(续) 
(4) 可供出售债券公允价值变动储备 
根据财政部《关于债券资产会计处理问题的批复》(财会函[2004]61号)，本集团对可供出 
售债券在资产负债日按照公允价值计量。因公允价值变动而产生的估值收益或估值亏损在 
该债券被转让或被认定为减值之前，先在股东权益中确认，待实际转让或被认定为减值 
时，再将以前在股东权益中确认的累积估值收益或估值亏损计入利润表。 
截至2006年6月30日止期间，由于人民币和美元利率持续上升，本集团可供出售债券组合 
形成未实现估值亏损。本集团对该等估值亏损进行了审阅，相信该等估值亏损是因为基础 
利率变动所致，不存在因债券发行人信用等级改变等造成债券资产减值情况。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
34 
三 合并会计报表主要项目注释 (续) 
20 净利息收入 
2006年1-6月 2005年1-6月 
利息收入 
贷款利息收入 60,360 51,971 
债券投资利息收入 30,652 19,908 
存放及拆放同业利息收入 6,315 3,518 
存放中央银行利息收入 2,450 2,069 
小计 99,777 77,466 
利息支出 
客户存款利息支出 (38,887) (23,815) 
同业存入及拆入和对中央银行负债利息支出 (4,122) (2,827) 
借入专项资金和发行债券利息支出 (2,292) (2,166) 
小计 (45,301) (28,808) 
净利息收入 54,476 48,658 
21 手续费及佣金收支净额 
2006年1-6月 2005年1-6月 
结算与清算业务收入 1,794 1,287 
代理业务收入 2,201 1,235 
信用承诺手续费及佣金收入 1,438 1,308 
银行卡业务收入 1,365 1,049 
受托业务收入 248 235 
其他 1,120 801 
手续费及佣金收入 8,166 5,915 
手续费及佣金支出 (1,325) (1,397) 
手续费及佣金收支净额 6,841 4,518 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
35 
三 合并会计报表主要项目注释 (续) 
22 净交易(损失)/收入 
2006年1-6月 2005 年 1-6 月 
汇兑及汇率产品净收益 (1) 1, 302 3,3 22 
利率产品净损失 (2) (1,495) (329) 
合 计 (193) 2,993 
(1) 见注释七、资产负债币种分析。 
(2) 包括2006年上半年交易类债券未实现估值亏损17.55亿元。 
23 投资收益 
2006年1-6月 2005年1-6月 
股权投资收益 
投资联营企业净收益 339 48 
其他股权投资净收益 (1) 1,248 77 
小计 1,587 125 
债券投资收益 94 24 
合计 1,681 149 
(1) 其他股权投资净收益主要包括本集团在香港的子公司于 2006 年上半年买卖部分交易性股权投 
资获得的净收益。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
36 
三 合并会计报表主要项目注释 (续) 
24 其他业务收支净额 
2006年1-6月 2005年1-6月 
其他业务收入 
保险业务收入 4,286 2,624 
其他 (1) 1,080 143 
小计 5,366 2,767 
其他业务支出 
保险理赔费用 (3,423) (2,168) 
其他 (146) (238) 
小计 (3,569) (2,406) 
其他业务收支净额 1,797 361 
(1) 其他业务收入中包括本集团在香港的子公司于2006年3月向独立第三方处置部分贷款，获得 
净收益6.60亿元。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
37 
三 合并会计报表主要项目注释 (续) 
25 业务及管理费 
2006 年 1-6 月 2005 年 1-6 月 
员工费用 13,278 11,654 
业务费用 7,174 6,208 
折旧 2,741 3,138 
合计 23,193 21,000 
员工费用具体列示如下： 
2006年1-6月 2005年1-6月 
工资薪金及福利费 10,141 9,345 
养老金设定提存计划 1,495 659 
住房公积金 626 427 
其他社会保险支出 415 362 
养老金设定受益计划 139 238 
其他 462 623 
合计 13,278 11,654 
2005年下半年，本集团设立中国银行企业年金计划。养老金设定提存计划费用中包括本行在 
2006上半年向该年金计划支付4.78亿元。 
在截至2006年6月30日止期间的养老金设定提存计划支出中已扣除因员工辞职等原因而没收 
的供款金额约为0.12亿元 (2005年1-6月：0.14亿元)。截至2006年6月30日和2005年6月30日 
止，可作进一步扣减日后应付供款的没收金额均不重大。 
26 营业税金及附加 
2006年1-6月 2005年1-6月 
营业税金 2,687 2,406 
城市维护建设税 176 158 
教育费附加 96 83 
其他 28 23 
合计 2,987 2,670 
27 资产减值损失 
2006年1-6月 2005年1-6月 
贷款减值损失 5,062 4,718 
抵债资产减值(转回)/损失 (131) 96 
其他应收款坏账(转回)/损失 (55) 206 
固定资产及其他资产减值转回 - (444) 
合计 4,876 4,576 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
38 
三 合并会计报表主要项目注释 (续) 
28 所得税 
2006 年 1-6 月 2005 年 1-6 月 
当期所得税 12,136 10,998 
递延所得税 (注释三、13) 226 (138) 
合计 12,362 10,860 
本集团实际所得税支出与按法定税率计算的所得税支出不同，主要调节事项如下： 
2006 年 1-6 月 2005 年 1-6 月 
税前利润 34,013 29,578 
按税前利润乘以 33%计算之所得税 11,224 9,761 
其他国家和地区采用不同税率所产生的影响 (1,927) (1,479) 
境外机构所得在境内补交所得税 1,688 865 
调整以前年度所得税费用 (1) (350) (2) 
免税收入 (1,223) (614) 
不可税前抵扣的费用 (2) 2,921 2,452 
其他 29 (123) 
合计 12,362 10,860 
(1) 主要包括2006年上半年本行获财政部和国家税务总局批准，针对以划转股权投资方式注入东 
方资产管理公司形成的尚未扣除的人民币8.60亿元投资划转损失，准予其在计算企业所得税 
前扣除，相关所得税影响为人民币 2.84亿元。 
(2) 不可税前抵扣的费用主要为超过税法抵扣范围的工资成本等。 
本集团目前正在向国家税务总局申请境内员工费用可于税前抵扣的法定限额调整安排。国家 
税务总局以《关于中国银行股份有限公司计税工资税前扣除问题的复函》(国税函[2006] 484 
号)原则同意本行在境外上市后，计税工资按照“工效挂钩”办法税前扣除。本集团管理层将 
按照国家主管部门有关规定，积极跟进该项申请并落实具体实施方案。 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
39 
三 合并会计报表主要项目注释 (续) 
29 每股基本净收益和稀释后每股净收益 
每股基本净收益按归属于普通股股东的当期净利润除以当期发行在外普通股股数的加权平均 
数计算。 
稀释后每股净收益是在假设对所有潜在稀释普通股进行转换并调整发行在外普通股的加权平 
均数的基础上进行计算的。本行没有任何潜在稀释普通股。 
2006年1-6月 2005年1-6月 
归属于本行股东的当期净利润 19,024 16,434 
当期发行在外的普通股股数的加权平均 
数(百万股) 218,002 186,390 
每股基本净收益和稀释后每股净收益 
(人民币元/股) 0.09 0.09 
30 现金流量表注释 
现金及现金等价物包括以下项目(原始到期日均在 3 个月以内)： 
2006年6月30日 2005年6月30日 
现金 29,811 29,486 
存放中央银行 113,039 130,427 
存放及拆放同业 215,713 230,894 
短期票据 30,910 24,149 
合计 389,473 414,956 
(1) 将净利润调节为经营活动现金流量 
2006 年 1-6 月 2005年1-6月 
净利润 19,024 16,434 
加/(减): 
少数股东应享本期利润 2,627 2,284 
计提资产减值损失准备 4,876 4,576 
固定资产折旧 2,741 3,138 
无形资产及长期待摊费用摊销 341 222 
处置固定资产和其他资产净收益 (168) (671) 
股权投资收益 (1,587) (125) 
发行债券利息支出 1,384 1,178 
经营性应收项目的增加 (495,834) (288,793) 
经营性应付项目的增加 348,605 283,372 
经营活动产生的现金流量净额 (117,991) 21,615 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
40 
四 母公司会计报表主要项目补充说明 
1 债券投资 
2006年6月30日 2005年12月31日 
可供出售债券(以公允价值列示) 
政府债券 296,280 219,566 
公共实体及准政府债券 242,068 102,200 
金融机构债券 193,816 146,373 
公司债券 86,487 70,798 
小计 818,651 538,937 
持有至到期日债券(以摊余成本列示) 
政府债券 221,541 227,718 
公共实体及准政府债券 91,308 103,074 
金融机构债券 72,118 74,791 
公司债券 8,101 9,560 
小计 393,068 415,143 
分类为贷款及应收款的债券(以摊余成本列示) 
中国东方资产管理公司债券 160,000 160,000 
中国人民银行专项票据 91,612 91,530 
财政部特种国债 42,500 42,500 
短期票据 
－公共实体及准政府债券 15,260 5,992 
－金融机构债券 37,070 32,156 
－公司债券 1,825 - 
凭证式国债及其他 10,647 11,888 
358,914 344,066 
分类为贷款及应收款的债券减值准备 (152) (156) 
小计 358,762 343,910 
合计 1,570,481 1,297,990 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
41 
四 母公司会计报表主要项目补充说明(续) 
2 贷款 
2006年6月30日 2005年12月31日 
信用贷款 511,086 401,756 
保证贷款 647,205 617,332 
抵押、质押贷款 883,910 849,017 
合计 2,042,201 1,868,105 
3 股权投资 
2006年6月30日 2005年12月31日 
投资子公司 68,732 66,294 
投资联营企业 33 63 
其他股权投资 847 796 
账面原值 69,612 67,153 
减：股权投资减值准备 (173) (202) 
账面净值 69,439 66,951 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
42 
四 母公司会计报表主要项目补充说明(续) 
4 客户存款 
2006年6月30日 2005年12月31日 
短期对公存款 
活期对公存款 848,940 747,059 
一年期及以下定期对公存款 429,253 380,105 
小计 1,278,193 1,127,164 
短期储蓄存款 
活期储蓄存款 539,321 492,876 
一年期及以下定期储蓄存款 1,013,449 937,430 
小计 1,552,770 1,430,306 
长期对公存款 31,095 24,395 
长期储蓄存款 332,287 305,239 
存入保证金 162,628 122,083 
合计 3,356,973 3,009,187 
其中，存入保证金具体列示如下： 
承兑汇票保证金 92,068 63,522 
开出信用证及保函保证金 28,988 26,469 
外汇买卖交易保证金 5,767 3,718 
其他 35,805 28,374 
合计 162,628 122,083 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
43 
四 母公司会计报表主要项目补充说明(续) 
5 净利息收入 
2006年1-6月 2005年1-6月 
利息收入 
贷款利息收入 50,141 45,875 
债券投资利息收入 23,738 15,804 
存放及拆放同业利息收入 3,457 2,327 
存放中央银行利息收入 2,189 2,032 
小计 79,525 66,038 
利息支出 
客户存款利息支出 (26,815) (19,427) 
同业存入及拆入和对中央银行负债 
利息支出 (4,090) (2,811) 
借入专项资金和发行债券利息支出 (2,292) (2,163) 
小计 (33,197) (24,401) 
净利息收入 46,328 41,637 
6 手续费及佣金收支净额 
2006年1-6月 2005年1-6月 
结算与清算业务收入 1,374 964 
代理业务收入 877 385 
信用承诺手续费及佣金收入 1,148 996 
银行卡业务收入 962 636 
受托业务收入 113 110 
其他 748 611 
手续费及佣金收入 5,222 3,702 
手续费及佣金支出 (460) (673) 
手续费及佣金收支净额 4,762 3,029 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
44 
四 母公司会计报表主要项目补充说明(续) 
7 净交易(损失)/收入 
2006年1-6月 2005年1-6月 
汇兑及汇率产品净收益 343 2,655 
利率产品净损失 (625) (405) 
合计 (282) 2,250 
8 投资收益 
2006年1-6月 2005年1-6月 
股权投资收益 
投资子公司净收益 7,521 4,747 
投资联营企业净收益 5 3 
其他股权投资净收益 21 85 
小计 7,547 4,835 
债券投资收益 105 5 
合计 7,652 4,840 
9 业务及管理费 
2006年1-6月 2005年1-6月 
员工费用 11,087 9,602 
业务费用 6,308 5,394 
折旧 2,320 2,748 
合计 19,715 17,744 
员工费用具体列示如下： 
2006年1-6月 2005年1-6月 
工资薪金及福利费 8,159 7,546 
养老金设定提存计划 1,334 638 
住房公积金 611 427 
其他社会保险支出 411 339 
养老金设定受益计划 139 238 
其他 433 414 
合计 11,087 9,602 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
45 
四 母公司会计报表主要项目补充说明(续) 
10 资产减值损失 
2006年1-6月 2005年1-6月 
贷款减值损失 5,849 6,092 
抵债资产减值(转回)/损失 (129) 96 
其他应收款坏账(转回)/损失 (32) 211 
固定资产及其他资产减值转回 (8) (283) 
合计 5,680 6,116 
11 现金流量表注释 
现金及现金等价物包括以下项目(原始到期日均在 3 个月以内)： 
2006年6月30日 2005年6月30日 
现金 26,684 26,242 
存放中央银行 89,018 103,122 
存放及拆放同业 160,662 150,374 
短期票据 27,686 21,492 
合计 304,050 301,230 
(1) 将净利润调节为经营活动现金流量 
2006年1-6月 2005年1-6月 
净利润 19,643 16,434 
加/(减): 
计提资产减值损失准备 5,680 6,116 
固定资产折旧 2,320 2,748 
无形资产及长期待摊费用摊销 340 221 
处置固定资产和其他资产净收益 115 (146) 
股权投资收益 (7,547) (4,835) 
发行债券利息支出 1,384 1,178 
经营性应收项目的增加 (433,206) (277,343) 
经营性应付项目的增加 324,064 250,067 
经营活动产生的现金流量净额 (87,207) (5,560) 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
46 
五 关联交易 
如果一方有能力直接或间接控制、共同控制另一方或对另一方的财务和经营决策产生重大影 
响；或本集团与另一方或多方同受一方控制，均被视为存在关联关系。中国政府通过中央汇 
金投资有限责任公司持有本行股权并对本集团实行控制。 
1 与中央汇金投资有限责任公司之间的交易 
(1) 外币期权合同 
本行于 2005 年 1 月 5 日和中央汇金投资有限责任公司签署了一份外币期权合同。该外币期 
权合同规定，自 2007 年 1 月 1 日起至 12 月 31 日止，本行有权于每月初以 8.2769 的价格向 
中央汇金投资有限责任公司出售美元，每次交易不超过 15 亿美元，共计 180 亿美元。本行 
须向中央汇金投资有限责任公司支付相关期权费用人民币 44.69 亿元，此期权费于 2007 年 1 
月 1 日起至 12 月 31 日止分 12 个月于每月初平均支付。 
(2) 存款 
2006 年 1-6 月 2005 年 
期/年初余额 38,869 - 
当期/年吸收的存款 156,679 42,972 
当期/年归还的存款及其他变动 (173,709) (4,103) 
期/年末余额 21,839 38,869 
吸收中央汇金投资有限责任公司存款按照正常的商业条款和市场价格进行。 
2 与中央汇金投资有限责任公司下属公司之间的交易 
中央汇金投资有限责任公司同时拥有其他金融机构的股份控制权。本集团与这些金融机构在 
正常经营业务范围内按商业条款和市场价格进行金融业务交易。该等交易包括债券资产和货 
币市场交易等。截至 2006 年 6 月 30 日止，本集团与该等金融机构无重大交易余额。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
47 
五 关联交易(续) 
3 与持有本行 5%以上（含 5%）股份股东之间的交易 
除中央汇金投资有限责任公司外，于 2006 年 6 月 30 日持有本行 5%以上(含 5%)股份的股东 
为 rbs china investments s.à.r.l.。本行与该股东之间在 2006 年 1 月 1 日至 6 月 30 日止期 
间无重大交易，截至 2006 年 6 月 30 日止无重大余额。 
4 与联营企业之间的交易 
本集团在正常的经营活动中与联营企业(注释三、7)发生了包括存、贷款及购买发行债券在内 
的正常银行业务往来。该等交易按照正常的商业条款和市场价格进行。关联交易的金额和期 
末余额列示如下，相关的利息收入及支出并不重大。 
(1) 贷款 
2006年1-6月 2005年 
期/年初余额 7,240 1,246 
当期/年发放的贷款 18 8,128 
当期/年归还的贷款 (6,095) (989) 
当期/年核销的贷款及其他变动 (1,145) 
期/年末余额 1,163 7,240 
贷款减值准备 (190) (119) 
(2) 存款 
2006年1-6月 2005年 
期/年初余额 856 1,227 
当期/年吸收的存款 3,250 3,879 
当期/年支取的存款及其他变动 (1,959) (4,250) 
期/年末余额 2,147 856 
(3) 债券资产 
2006年1-6月 2005年 
期/年初余额 188 - 
当期/年购入 - 1,307 
当期/年处置 (188) (1,123) 
当期/年公允价值变动及其他 - 4 
期/年末余额 - 188 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
48 
六 分部报告 
本集团主要在三大地区开展业务活动：中国内地、港澳地区以及其他境外地区(主要包括纽约、 
伦敦、新加坡和东京)。 
本集团按区域分部对收入、经营成果、资产、负债及资本性支出进行分析，分部信息分析反映了 
目前本集团的经营管理模式。按照本集团组织结构和内部财务报告流程，本集团决定区域分部为 
主要分部报告信息列示。 
本集团按分行和子公司所在国家或地区列示利润表项目、资产和负债项目、资本性支出、折旧和 
摊销及信用承诺。 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
49 
六 分部报告(续) 
2006年1月1日至6月30日止期间 港 澳地区 
中国内地 中银香港集团 其他 合计 其他境外地区 抵销额 集团 
利息收入 76,446 19,997 2,276 22,273 3,426 (2,368) 99,777 
利息支出 (31,368) (12,235) (1,489) (13,724) (2,581) 2,372 (45,301) 
净利息收入 45,078 7,762 787 8,549 845 4 54,476 
手续费及佣金收支净额 4,225 1,724 989 2,713 388 (485) 6,841 
净交易(损失)/收入 (107) 677 (536) 141 (227) - (193) 
投资(损失)/收益 124 7 1,634 1,641 (6) (78) 1,681 
其他业务收支净额 129 423 1,271 1,694 (3) (23) 1,797 
49,449 10,593 4,145 14,738 997 (582) 64,602 
业务及管理费 (18,920) (2,973) (645) (3,618) (687) 32 (23,193) 
营业税金及附加 (2,945) (19) (10) (29) (13) - (2,987) 
营业利润 27,584 7,601 3,490 11,091 297 (550) 38,422 
营业外收支净额 172 201 57 258 37 - 467 
扣除资产减值损失前利润总额 27,756 7,802 3,547 11,349 334 (550) 38,889 
资产减值(损失)/回拨 (5,932) 717 218 935 121 - (4,876) 
利润总额 21,824 8,519 3,765 12,284 455 (550) 34,013 
所得税 (10,751) (1,430) (242) (1,672) (142) 203 (12,362) 
税后利润 11,073 7,089 3,523 10,612 313 (347) 21,651 
少数股东应享本期利润 (4) (2,519) (104) (2,623) - - (2,627) 
净利润 11,069 4,570 3,419 7,989 313 (347) 19,024 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
50 
六 分部报告(续) 
港澳地区 
2006年6月30日 中国内地 中银香港集团 其他 合计 其他境外地区 抵销额 集团 
分部资产 4,268,205 875,352 118,363 993,715 199,169 
(234,15 
6) 5,226,933 
分部负债 (3,917,105) (797,504) (99,538) 
(897,042
) (191,882) 165,549 (4,840,480) 
信用承诺 827,712 173,457 18,334 191,791 57,397 (52,704) 1,024,196 
截至 2006 年 6 月 30 日止期间 
其他分部信息 
资本性支出 1,800 296 15 311 79 - 2,190 
折旧和摊销 2,618 317 92 409 55 - 3,082 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
51 
六 分部报告(续) 
2005年1月1日至6月30日止期间 港 澳地区 
中国内地 中银香港集团 其他 合计 其他境外地区 抵销额 集团 
利息收入 63,883 10,976 1,431 12,407 2,429 (1,253) 77,466 
利息支出 (23,449) (4,477) (550) (5,027) (1,585) 1,253 (28,808) 
净利息收入 40,434 6,499 881 7,380 844 - 48,658 
手续费及佣金收支净额 2,529 1,497 99 1,596 393 - 4,518 
净交易收入/(损失) 2,241 520 247 767 (15) - 2,993 
投资收益 20 33 27 60 69 - 149 
其他业务收支净额 70 - 289 289 2 - 361 
45,294 8,549 1,543 10,092 1,293 - 56,679 
业务及管理费 (17,046-) (2,778-) (580-) (3,358-) (596-) -- (21,000-) 
营业税金及附加 (2,636) (15) (9) (24) (10) - (2,670) 
营业利润 25,612- 5,756- 954- 6,710- 687- -- 33,009- 
营业外收支净额 723- 251- 116- 367- 55- -- 1,145- 
扣除资产减值损失前利润总额 26,335- - 6,007 1,070- 7,077- 742- -- 34,154- 
资产减值(损失)/回拨 (6,591-) 1,383- 422- 1,805- 210- -- (4,576-) 
利润总额 19,744- 7,390- 1,492- 8,882- 952- -- 29,578- 
所得税 (9,472-) (1,223-) (5- ) (1,228-) (160-) -- (10,860-) 
税后利润 10,272- 6,167- 1,487- 7,654- 792- -- 18,718- 
少数股东应享本期利润 9- (2,174-) (119- ) (2,293-) -- - - (2,284-) 
净利润 10,281- 3,993- 1,368- 5,361- 792- -- 16,434- 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
52 
六 分部报告(续) 
港澳地区 
2005年12月31日 中国内地 中银香港集团 其他 合计 其他境外地区 抵销额 集团 
分部资产 3,803,989 845,959 120,266 966,225 186,982 
(214,39 
0) 4,742,806 
分部负债 (3,584,086) (768,215) (102,831) (871,046) (178,853) 153,799 (4,480,186) 
信用承诺 699,066 168,203 14,131 182,334 52,434 (38,072) 895,762 
截至 2005 年 6 月 30 日止期间 
其他分部信息 
资本性支出 1,485 176 34 210 71 - 1,766 
折旧和摊销 2,947 305 53 358 55 - 3,360 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
53 
六 分部报告(续) 
本集团以业务板块为第二分部信息。本集团主要通过以下业务板块提供金融服务，即公司银 
行业务、个人银行业务、资金业务、投资银行、保险及其他业务。本集团将收入、经营成 
果、资产、负债及资本性支出直接归属于各业务分部或者通过合理的基础分配至各业务分部 
列示。 
公司银行业务–为公司客户提供的银行服务包括活期账户、存款、透支、贷款、与贸易相关 
的产品及其他信贷服务、外币业务及衍生产品等。 
个人银行业务–为个人客户提供的银行服务包括活期账户、储蓄、存款、投资性储蓄产品、 
托管、信用卡及借记卡、消费信贷和抵押贷款等。 
资金业务–包括外汇交易、根据客户要求从事利率及外汇衍生工具交易、货币市场交易、自 
营性交易以及资产负债管理。该业务分部的经营成果包括分部间由于生息资产和负债增长的 
变化而引起的资金盈余或短缺的损益影响及外币折算损失。 
投资银行–提供债务和权益承销、资产管理服务、经纪服务和银团贷款安排。 
保险业务–提供财产险、人寿险及保险代理服务。 
其他业务–本集团的其他业务包括集团投资和其他等自身不形成可单独报告的分部。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
54 
六 分部报告(续) 
截至 2006 年 6 月 30 日止期间 
[ 
公司业务 个人业务 资金业务 投资银行 保险业务 其他 抵销 总计 
利息收入 45,329 42,491 38,551 289 269 191 (27,343) 99,777 
利息支出 (18,727) (25,610) (27,175) (270) (19) (847) 27,347 (45,301) 
净利息收入 26,602 16,881 11,376 19 250 (656) 4 54,476 
手续费及佣金收支净额 3,141 3,165 357 938 (277) 9 (492) 6,841 
净交易收入/(损失) 1,814 977 (1,910) (640) (428) (7) 1 (193) 
投资收益/(损失) - - 85 1,026 217 431 (78) 1,681 
其他业务收支净额 74 5 (3) - 686 1,103 (68) 1,797 
31,631 21,028 9,905 1,343 448 880 (633) 64,602 
业务及管理费 (8,588) (11,677) (2,876) (224) (103) (406) 681 (23,193) 
营业税金及附加 (1,478) (459) (1,023) (2) (3) (22) - (2,987) 
营业利润 21,565 8,892 6,006 1,117 342 452 48 38,422 
营业外收支净额 56 127 45 (2) 40 799 (598) 467 
扣除资产减值损失前利润总额 21,621 9,019 6,051 1,115 382 1,251 (550) 38,889 
资产减值(损失)/回拨 (4,202) (720) 1 (5) 6 44 - (4,876) 
利润总额 17,419 8,299 6,052 1,110 388 1,295 (550) 34,013 
所得税 (12,362) 
税后利润 21,651 
少数股东应享本期利润 (2,627) 
净利润 19,024 
分部资产 1,813,042 637,280 2,692,140 18,079 17,153 84,279 (35,040) 5,226,933 
资本性支出 416 782 31 6 2 953 - 2,190 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
55 
六 分部报告(续) 
截至 2005 年 6 月 30 日止期间及 2005 年 12 月 31 日 
公司业务 个人业务 资金业务 投资银行 保险业务 其他 抵销 总计 
利息收入 39,592 31,510 24,679 243 183 128 (18,869) 77,466 
利息支出 (13,848) (15,489) (17,623) (180) - (537) 18,869 (28,808) 
净利息收入 25,744 16,021 7,056 63 183 (409) - 48,658 
手续费及佣金收支净额 2,522 1,802 215 171 (254) 62 - 4,518 
净交易收入/(损失) 1,584 755 507 203 (48) (8) - 2,993 
投资收益/(损失) - 1 24 (39) 17 146 - 149 
其他业务收支净额 29 - - - 331 43 (42) 361 
29,879 18,579 7,802 398 229 (166) (42) 56,679 
业务及管理费 (7,876) (10,148) (2,680) (195) (88) (301) 288 (21,000) 
营业税金及附加 (1,455) (436) (760) (2) (1) (16) - (2,670) 
营业利润 20,548 7,995 4,362 201 140 (483) 246 33,009 
营业外收支净额 107 215 71 1 (4) 1,001 (246) 1,145 
扣除资产减值损失前利润总额 20,655 8,210 4,433 202 136 518 - 34,154 
资产减值(损失)/回拨 (5,471) 819 19 1 (2) 58 - (4,576) 
利润总额 15,184 9,029 4,452 203 134 576 - 29,578 
所得税 (10,860) 
税后利润 18,718 
少数股东应享本期利润 (2,284) 
净利润 16,434 
分部资产 1,658,718 603,891 2,399,377 15,159 12,398 77,644 (24,381) 4,742,806 
资本性支出 342 665 32 4 25 698 - 1,766 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
56 
六 分部报告(续) 
自 2006 年 1 月 1 日起，本集团对内部转移定价政策进行了修订。新的内部转移定价机制以市场存款和贷款利率为基准，参照不同产品及其期限 
调整其预定利润率。在 2006 年 1 月 1 日前，本集团采用资金的平均成本和生息资产的平均利率作为内部转移定价的基础，并未考虑不同产品和 
各自到期日。该方法变化的主要原因是为了更好的反映各业务分部的经营业绩，加强本行对资产和负债的管理能力。 
新的分部间转移定价对 2005 年 6 月 30 日报表项目的分部信息影响列示如下。 
截至 2005 年 6 月 30 日止期间 
公司业务 个人业务 资金业务 投资银行 保险业务 其他 抵销 总计 
原报告净利息收入 25,253 17,818 5,750 63 183 (409) - 48,658 
变动额 491 (1,797) 1,306 - - - - - 
重述后净利息收入 25,744 16,021 7,056 63 183 (409) - 48,658 
原报告营业利润 20,057 9,792 3,056 201 140 (483) 246 33,009 
变动额 491 (1,797) 1,306 - - - - - 
重述后营业利润 20,548 7,995 4,362 201 140 (483) 246 33,009 
原报告扣除资产减值损失前利润总额 20,164 10,007 3,127 202 136 518 - 34,154 
变动额 491 (1,797) 1,306 - - - - - 
重述后扣除资产减值损失前利润总额 20,655 8,210 4,433 202 136 518 - 34,154 
原报告利润总额 14,693 10,826 3,146 203 134 576 - 29,578 
变动额 491 (1,797) 1,306 - - - - - 
重述后利润总额 15,184 9,029 4,452 203 134 576 - 29,578 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
57 
七 资产负债币种分析 
于 2006 年 6 月 30 日和 2005 年 12 月 31 日，本集团的外汇净头寸列示如下： 
外汇头寸 
2006年 6 月 30 日 2005 年 12 月 31 日 
等值人民币 
十亿元 
等值美元 
十亿元 
等值人民币 
十亿元 
等值美元 
十亿元 
本集团资产负债表内外汇头 
寸净额 
601 75 485 60 
减：本集团资产负债表外外 
汇头寸净额 
(232) (29) (171) (21) 
本集团外汇头寸净额合计 369 46 314 39 
减：境外外币投资的外汇头 
寸净额 * 
(103) (13) (105) (13) 
外汇净头寸 266 33 209 26 
* 境外外币投资的外汇头寸净额代表本行海外子公司、分行及其联营公司所持有的外币净资产。境外 
机构以外币为记账本位币，为财务报告目的，该等境外机构的经营成果和财务状况折算为人民币所 
产生的差异在权益项下的“外币报表折算差额”科目内确认。该折算差异对本集团的合并利润表没 
有影响。 
本集团通过合理安排外币资金的来源和使用尽量减少潜在的货币错配。然而，本集团对外 
币头寸可实施的控制措施有限，因为人民币为非自由兑换货币。按照中国政府现行的外汇 
管理政策，外汇兑换需要中国政府有关部门的批准。本集团持有重大的外汇头寸，其主要 
来源于股东投入的外币资本金，本行经营外汇业务的外汇头寸盈余以及相关盈利 。 
本行于 2005 年与中央汇金投资有限责任公司签署了一份外币期权合同，名义本金为 180 
亿美元，对部分资产负债表的外汇头寸净额进行了经济套期保值。 
截至 2006 年 6 月 30 日止期间，本行通过叙做外汇交易，降低外汇头寸净额 33 亿美元。 
截止 2006 年 8 月，本行通过叙做外汇交易，进一步降低外汇头寸净额 142 亿美元。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
58 
七 资产负债币种分析(续) 
当外币对人民币汇率变动 1%时，上述本集团外汇净头寸因汇率波动产生的外汇折算损益对 
利润表的潜在影响分析如下： 
2006年 6 月 30 日 2005年12月31日 
收益 / (损失) 
人民币百万元 
收益 / (损失) 
人民币百万元 
外币对人民币汇率上涨/下降1% +/- 2,660 +/- 2,090 
以上针对潜在汇率波动所做的敏感性分析反映不同时点汇率波动对本集团外汇净头寸产生的 
外汇折算损益影响的简单情形，仅用于说明目的，并未考虑各货币间的汇率变动关系。该分 
析亦未考虑管理层资产负债表日后在获得中国政府批准后可能或已经采取的降低汇率变动风 
险的措施及外汇头寸的后续变动。 
本集团的资产、负债及表外项目的货币风险集中度具体列示如下。短期金融资产包括现金、 
贵金属、存放中央银行和存出发钞基金；债券资产包括交易性及其他公允价值变动计入损益 
的债券和债券投资；其他资产包括应收利息、固定资产和递延税款借项等；短期金融负债包 
括对中央银行负债和发行货币债务；其他负债包括应付利息等。在资产负债表外头寸净额 
中，期权产品按名义本金披露，其中包括本行与中央汇金投资有限责任公司签订的金额为 
180 亿美元的外币期权合同。该交易的目的是提供有效的经济套期保值，以对冲中央汇金投 
资有限责任公司注资带来的美元头寸汇率风险。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
59 
七 资产负债币种分析(续) 
2006 年 6 月 30 日 人民币 
美元 
折合人民币 
港元 
折合人民币 
欧元 
折合人民币 
日元 
折合人民币 
英镑 
折合人民币 
其他币种 
折合人民币 合计 
资产 
短期金融资产 315,390 17,258 43,422 1,943 25,201 445 43,546 447,205 
衍生金融产品资产 - 14,656 5,632 443 318 233 258 21,540 
存放及拆放同业 102,399 76,394 75,885 15,983 3,291 5,310 20,852 300,114 
债券资产 914,491 767,457 177,587 51,526 20,552 6,649 50,009 1,988,271 
贷款 1,643,896 362,362 315,887 38,557 25,062 4,419 15,353 2,405,536 
减：贷款损失准备 (72,036) (11,457) (3,456) (531) (367) (40) (241) (88,128) 
其他资产 89,134 20,056 33,558 1,377 1,829 722 5,719 152,395 
资产总计 2,993,274 1,246,726 648,515 109,298 75,886 17,738 135,496 5,226,933 
负债 
短期金融负债 7 25,367 39,182 - - - 2,090 66,646 
衍生金融产品及公允价值变动计入损 
益的负债 - 77,290 22,176 1,031 143 263 269 101,172 
同业存入及拆入 177,634 120,657 8,354 5,346 9,708 546 36,104 358,349 
客户存款 2,876,575 444,430 529,336 41,220 40,386 25,453 95,624 4,053,024 
借入专项资金及发行债券 60,000 26,378 - 16,045 4,440 940 1,996 109,799 
其他负债 93,410 21,889 31,429 1,462 1,082 729 1,489 151,490 
负债总计 3,207,626 716,011 630,477 65,104 55,759 27,931 137,572 4,840,480 
资产负债表内头寸净额 (214,352) 530,715 18,038 44,194 20,127 (10,193) (2,076) 386,453 
资产负债表外头寸净额 235,530 (264,170) 80,413 (49,256) (31,475) 17,014 15,520 3,576 
信用承诺 478,011 325,303 141,771 46,965 19,286 4,101 8,759 1,024,196 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
60 
七 资产负债币种分析(续) 
2005 年 12 月 31 日 人民币 
美元 
折合人民币 
港元 
折合人民币 
欧元 
折合人民币 
日元 
折合人民币 
英镑 
折合人民币 
其他币种 
折合人民币 合计 
资产 
短期金融资产 290,571 17,463 50,536 2,244 17,105 421 33,145 411,485 
衍生金融产品资产 - 11,493 4,552 149 548 57 9 16,808 
存放及拆放同业 72,731 133,179 96,420 13,322 616 5,691 22,578 344,537 
债券资产 834,407 562,128 147,966 50,044 23,072 7,048 44,926 1,669,591 
贷款 1,477,859 358,289 319,212 34,942 25,418 4,228 15,098 2,235,046 
减：贷款损失准备 (66,477) (11,779) (3,485) (510) (552) (36) (314) (83,153) 
其他资产 90,733 15,988 34,632 1,172 1,755 727 3,485 148,492 
资产总计 2,699,824 1,086,761 649,833 101,363 67,962 18,136 118,927 4,742,806 
负债 
短期金融负债 1,084 24,162 38,595 29 - 32 1,884 65,786 
衍生金融产品及公允价值变动计入损 
益的负债 - 70,625 19,551 418 384 117 79 91,174 
同业存入及拆入 209,624 76,205 13,707 4,400 11,538 514 29,245 345,233 
客户存款 2,531,878 440,252 529,827 46,854 37,565 26,634 90,767 3,703,777 
借入专项资金及发行债券 60,000 28,549 - 16,251 4,665 1,092 1,786 112,343 
其他负债 119,401 17,220 20,679 1,525 1,138 527 1,383 161,873 
负债总计 2,921,987 657,013 622,359 69,477 55,290 28,916 125,144 4,480,186 
资产负债表内头寸净额 (222,163) 429,748 27,474 31,886 12,672 (10,780) (6,217) 262,620 
资产负债表外头寸净额 173,666 (229,776) 73,943 (29,586) (16,344) 15,331 15,197 2,431 
信用承诺 394,938 295,280 137,425 30,874 21,185 2,049 14,011 895,762 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
61 
八 资产负债到期日分析 
本集团资产负债到期日结构分析列示如下。短期金融资产包括现金、贵金属、存放中央银行和存出发钞基金；债券资产包括交易性及其他公允价值 
变动计入损益的债券和债券投资；其他资产包括应收利息、固定资产和递延税款借项等；短期金融负债包括对中央银行负债和发行货币债务；其他 
负债包括应付利息等。 
2006 年 6 月 30 日 已逾期 即期偿还 1个月以内 1 个月至 3 个月 3个月至 12个月 1 年至 5 年 5 年以上 合计 
资产 
短期金融资产 - 219,593 226,583 1,029 - - - 447,205 
衍生金融产品资产 - 5,635 1,761 736 3,420 5,830 4,158 21,540 
存放及拆放同业 - 7,014 201,710 65,568 25,668 154 - 300,114 
债券资产 - - 60,840 172,718 364,243 826,955 563,515 1,988,271 
贷款 82,183 31,539 126,619 275,430 836,140 557,221 496,404 2,405,536 
减：贷款损失准备 (42,189) (143) (3,565) (5,508) (15,214) (13,191) (8,318) (88,128) 
其他资产 306 8,485 12,282 5,635 16,665 25,223 83,799 152,395 
资产总计 40,300 272,123 626,230 515,608 1,230,922 1,402,192 1,139,558 5,226,933 
负债 
短期金融负债 - 44,056 6 5,036 17,548 - - 66,646 
衍生金融产品及公允价值变动 
计入损益的负债 - 2,015 11,363 11,439 38,180 25,798 12,377 101,172 
同业存入及拆入 - 172,365 97,796 36,213 32,679 19,296 - 358,349 
客户存款 - 1,722,814 595,693 396,276 1,020,310 316,578 1,353 4,053,024 
借入专项资金及发行债券 - - 874 736 5,368 20,088 82,733 109,799 
其他负债 438 52,312 27,872 4,254 51,209 13,740 1,665 151,490 
负债总计 438 1,993,562 733,604 453,954 1,165,294 395,500 98,128 4,840,480 
流动性净额 39,862 (1,721,439) (107,374) 61,654 65,628 1,006,692 1,041,430 386,453 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
62 
八 资产负债到期日分析(续) 
2005 年 12 月 31 日 已逾期 即期偿还 1个月以内 1 个月至 3 个月 3个月至 12个月 1 年至 5 年 5 年以上 合计 
资产 
短期金融资产 - 208,416 202,030 1,018 21 - - 411,485 
衍生金融产品资产 - 3,890 2,042 754 1,583 5,347 3,192 16,808 
存放及拆放同业 - 12,438 220,629 92,649 18,707 114 - 344,537 
债券资产 - - 69,577 107,968 315,812 813,060 363,174 1,669,591 
贷款 77,846 28,662 109,430 224,756 814,571 518,316 461,465 2,235,046 
减：贷款损失准备 (37,696) (299) (1,881) (4,326) (19,121) (12,058) (7,772) (83,153) 
其他资产 303 4,622 12,727 6,936 10,367 27,240 86,297 148,492 
资产总计 40,453 257,729 614,554 429,755 1,141,940 1,352,019 906,356 4,742,806 
负债 
短期金融负债 - 65,237 529 20 - - - 65,786 
衍生金融产品及公允价值变动 
计入损益的负债 - 1,805 9,124 9,300 22,995 38,091 9,859 91,174 
同业存入及拆入 - 137,560 79,351 47,365 48,126 32,831 - 345,233 
客户存款 - 1,615,637 521,517 441,467 843,029 279,819 2,308 3,703,777 
借入专项资金及发行债券 - - 1,046 816 5,361 20,840 84,280 112,343 
其他负债 - 74,437 14,974 5,610 51,950 12,849 2,053 161,873 
负债总计 - 1,894,676 626,541 504,578 971,461 384,430 98,500 4,480,186 
流动性净额 40,453 (1,636,947) (11,987) (74,823) 170,479 967,589 807,856 262,620 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
63 
九 或有事项、承诺及主要表外项目 
1 法律诉讼 
截至 2006 年 6 月 30 日止，本集团存在正常业务中发生的若干法律诉讼事项。经与专业法律 
机构咨询，本集团管理层认为该等法律诉讼事项不会对本集团的财务状况产生重大影响。 
2 质押资产 
本集团部分资产被用作同业间回购、卖空业务及贵金属互换协议的质押物。截至2006年6月 
30日止，本集团该等回购、卖空业务及贵金属互换协议的合同金额为785.97亿元(2005年： 
621.08亿元)。所有该等协议均在协议生效起12个月内到期。 
2006年6月30日 2005年12月31日 
贵金属 52 2,617 
票据(注释三、6) 5,569 11,968 
债券投资(注释三、5) 76,822 49,658 
合计 82,443 64,243 
2006 年 6 月 30 日 2005年12月31日 
3 资本性承诺 
本集团的资本承诺金额列示如下: 
已批准及签订合同 2,152 1,893 
已批准但未签订合同 2,257 2,687 
合计 4,409 4,580 
本集团以上承诺皆为购买办公物业和设备承担的资本性承诺。本集团管理层确信本集团的未 
来净收入及其他筹资来源将足够支付该等资本性承诺，然而本集团对已批准但未签订合同的 
金额不承担必须发生支出的义务。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
64 
九 或有事项、承诺及主要表外项目(续) 
4 经营租赁 
根据已签订的不可撤销的经营性租赁合同，本集团未来最低应支付的租金总额列示如下： 
2006年6月30日 2005年12月31日 
一年以内 1,401 1,371 
一年至二年 1,159 1,085 
二年至三年 851 807 
三年以上 2,566 2,546 
合计 5,977 5,809 
5 凭证式国债兑付承诺 
本行受财政部委托作为其代理人发行凭证式国债。凭证式国债持有人可以要求提前兑付持有 
的凭证式国债，而本行亦有义务履行兑付责任，兑付金额为凭证式国债本金及至兑付日的应 
付利息。截至 2006 年 6 月 30 日止，本行具有提前兑付义务的凭证式国债的本金余额为 
840.56 亿元(2005 年：809.65 亿元)，原始期限为一至五年。鉴于目前由中国人民银行设定 
的存款基础利率低于凭证式国债的收益率，本行管理层认为在该等凭证式国债到期日前，本 
行所需兑付的凭证式国债金额并不重大。 
6 主要表外风险 
2006年6月30日 2005年12月31日 
银行承兑 230,434 195,234 
开出保函 255,779 212,987 
开出信用证 115,686 101,195 
不可撤销的信用承诺及其他 422,297 386,346 
合计 1,024,196 895,762 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
65 
十 资产负债表日后事项 
在资产负债表日后，截至2006年8月，本行通过叙做外汇交易，降低外汇头寸净额142亿美元 
（注释二、29(1)）。 

中国银行股份有限公司 
附件一 
扣除非经常性损益的净利润 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
66 
本集团根据《公开发行证券公司信息披露规范问答第01号-非经常性损益》的规定编 
制下列非经常性损益明细表。在计算“扣除非经常性损益的净利润”时，已扣除非经 
常性损益的所得税影响。 
2006年1-6月 
未经审计 
净利润 19,024 
加/(减)：非经常性损益 
-处置长期股权投资净收益 (141) 
-营业外收入(1) (1,111) 
-营业外支出(2) 644 
-以前年度已经计提各项减值准备的转回(3) (451) 
相应税项调整 349 
扣除非经常性损益的净利润 18,314 
(1) 营业外收入是指发生的与经营业务活动无直接关系的各项收入，包括处置固定资产净 
收益、固定资产盘盈、罚款收入、长期不动户清理收入等。 
(2) 营业外支出是指发生的与经营业务活动无直接关系的各项支出，包括处置固定资产净 
损失、罚款支出、捐赠支出、非常损失等。 
(3) 以前年度已经计提的各项资产减值准备的转回主要为其他应收暂付款减值准备转回。 

中国银行股份有限公司 
附件二 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
67 
本集团按照国际财务报告准则编制的合并利润表和合并资产负债表及其与中国会计准则 
会计报表差异说明列示如下： 
1 合并利润表 
2006 年 1-6 月 2005 年 1-6 月 
未经审计 未经审计 
利息收入 100,124 77,616 
利息支出 (45,301) (28,808) 
净利息收入 54,823 48,808 
手续费及佣金收入 8,166 5,915 
手续费及佣金支出 (1,325) (1,397) 
手续费及佣金收支净额 6,841 4,518 
净交易收入 557 2,795 
证券投资净收益 64 20 
其他营业收入 7,218 5,229 
贷款减值损失 (5,479) (4,966) 
其他营业费用 (29,686) (27,721) 
营业利润 34,338 28,683 
联营企业投资净收益 371 48 
税前利润 34,709 28,731 
所得税 (12,458) (10,957) 
税后利润 22,251 17,774 
可供分配： 
本行股东 19,477 15,181 
少数股东 2,774 2,593 
22,251 17,774 
可供分配给本行股东的每股净收益(以元/ 
股表示) 
-每股基本净收益和摊薄后每股净收益 0.09 0.08 

中国银行股份有限公司 
附件二 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
68 
2 合并资产负债表 
2006年6月30日 2005年12月31日 
未经审计 经审计 
资产 
现金及存放同业 36,785 41,082 
存放中央银行 340,651 316,941 
拆放同业 293,140 332,099 
存出发钞基金 36,094 35,586 
贵金属 39,259 26,974 
交易性及其他公允价值变动 
计入损益的金融资产 
114,167 111,782 
衍生金融产品资产 21,540 16,808 
客户贷款和垫款净额 2,317,625 2,152,112 
证券投资 
－可供出售证券 929,894 602,221 
－持有至到期日债券 569,126 607,459 
－贷款及应收款 389,368 361,851 
联营企业投资 5,675 5,061 
固定资产 62,238 62,417 
投资物业 8,612 8,511 
递延所得税资产 23,431 20,504 
其他资产 44,030 38,640 
资产总计 5,231,635 4,740,048 

中国银行股份有限公司 
附件二 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
69 
2 合并资产负债表(续) 
2006年6月30日 2005年12月31日 
未经审计 经审计 
负债 
同业存入 171,422 134,217 
对中央银行负债 30,495 30,055 
发行货币债务 36,151 35,731 
发行存款证及同业拆入 190,880 212,626 
衍生金融产品及公允价值变动计入损益 
的负债 
101,172 91,174 
客户存款 4,048,438 3,699,464 
发行债券 60,177 60,179 
借入专项资金 49,622 52,164 
应付税款 20,637 23,459 
退休福利负债 6,933 7,052 
递延所得税负债 2,053 2,136 
其他负债 128,573 136,272 
负债合计 4,846,553 4,484,529 
所有者权益 
本行股东应享权益 
股本 253,839 209,427 
资本公积 66,613 (5,954) 
盈余公积 8,095 5,987 
一般准备及法定准备金 9,398 5,109 
未分配利润 21,893 10,188 
可供出售证券公允价值变动储备 (3,603) 1,899 
外币折算差额 (488) (237) 
355,747 226,419 
少数股东权益 29,335 29,100 
所有者权益合计 385,082 255,519 
负债及所有者权益总计 5,231,635 4,740,048 
中国银行股份有限公司 
附件二 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
70 
3 中国会计准则与国际财务报告准则会计报表差异调节 
净资产 净利润 
2006年 
6月30日 
2005年 
12月31日 2006年1-6月 2005年1-6月 
按中国会计准则呈报 357,641 233,842 19,024 16,434 
会计准则差异调整： 
—冲回资产评估增值及其相关的 
折旧费用(1) (7,794) (7,999) 205 133 
—投资物业以公允价值计量(2) 3,199 2,816 438 1,059 
—权益性投资分类为可供出售证 
券并以公允价值计量(3) 3,566 1,775 - - 
—计提内退员工内退期间的工资 
及福利义务(4) (4,911) (5,097) 186 (1,749) 
—对非交易性贵金属按成本法计 
量(5) (757) (637) (120) (83) 
—递延所得税影响(6) 4,222 992 (97) (97) 
—以上事项对少数股东权益的影 
响及其他 581 727 (159) (516) 
小计 (1,894) (7,423) 453 (1,253) 
按国际财务报告准则呈报 355,747 226,419 19,477 15,181 

中国银行股份有限公司 
附件二 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
71 
4 中国会计准则与国际财务报告准则差异调节说明 
(1) 冲回资产评估增值及其相关的折旧费用 
在中国会计准则下，本集团将股份公司设立过程中的资产评估增值104.32亿元作为资本 
公积计入2003年12月31日的会计报表，增值的资产主要为固定资产。重估的固定资产成 
本在预计使用年限内摊销。根据《国际会计准则第16号——不动产、厂场和设备》的规 
定，一旦会计主体选用了成本法核算固定资产即不得再对固定资产按评估价值计量。因 
此，在中国会计准则下确认的资产评估增值及其相关的折旧费用应在国际财务报告准则 
会计报表予以冲回。 
(2) 投资物业以公允价值计量 
在中国会计准则下，投资物业作为固定资产按成本扣减累计折旧和减值准备后的金额列 
报。根据《国际会计准则第40号——投资性房产》的规定，本集团对投资物业在资产负 
债表日按照公允价值计量。 
(3) 权益性投资分类为可供出售证券并以公允价值计量 
在中国会计准则下，不存在控制、共同控制、重大影响的长期股权投资按成本扣减减值 
准备后的余额列报。根据《国际会计准则第39号——金融工具：确认和计量》的规定， 
这些股权投资被分类到可供出售证券；分类为可供出售证券的股权投资在资产负债表日 
按公允价值计量。可供出售股权投资因公允价值变动而产生的未实现估值收益或亏损， 
作为重估增值储备直接记入所有者权益。 
(4) 内退员工内退期间的工资及福利义务 
根据财政部要求，本集团对早于法定退休年龄退休的员工(“内退员工”)在其内退期间的福 
利支出(即在内退日开始到其达到法定退休年龄间的福利支出)在中国会计准则下按照收付 
实现制进行核算。根据《国际会计准则第19号——雇员福利》的相关要求，本集团对内 
退员工的福利支出于资产负债表日根据未来支付义务的现值并调整精算利得或损失及过 
去服务成本后列示。 
(5) 贵金属以成本法计量 
根据中国银行业会计实务，本行在中国会计准则会计报表中对所有的贵金属在初始确认 
时按照成本入账，并于资产负债表日按市场价格计量。根据《国际会计准则第 2 号—— 
存货》的规定，对于本集团非交易性贵金属以成本法计量。 
(6) 递延所得税影响 
本集团在国际财务报告准则下对合并会计报表中的资产和负债的计税价值和账面价值之 
间的暂时性差异采用负债法计提递延税项。在中国会计准则下对所得税费用的会计处理 
采用纳税影响会计法。递延税项按照债务法根据时间性差异计算。2006 年的主要差异是 
国际财务报告准则下贷记或借记入权益的可供出售证券公允价值估值变动所带来的借记 
或贷记入权益的递延所得税影响。 
中国银行股份有限公司 
附件二 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
72 

1 
bank of china limited 
stock code of a shares: 601988 
2006 interim report 

2 
table of contents 
important notes 
financial highlights 
chairman’s statement 
president’s statement 
management discussion & analysis 
economic, financial and regulatory environment 
financial statement analysis 
segment reporting by region 
business review 
risk management 
corporate information 
directors, supervisors, senior management and staff 
corporate governance 
significant events 
condensed financial statements and review report (unaudited) 

3 
important notes 
the board of directors of bank of china limited (the “bank”) and its directors ,the board of supervisors and its supervisors, the 
senior management of the bank warrant that there are no fraudulent disclosures, misleading statements or material omissions in 
this report, and that they will be individually and jointly responsible for the truthfulness, accuracy and completeness of the report. 
the board meeting held on 29 august 2006 reviewed and adopted the text and summary of the 2006 interim report. 16 directors 
were required to attend the meeting, with 16 present at the meeting. 16 directors exercised the right of voting, and 5 supervisors of 
the bank participated in the meeting without voting right. 
the 2006 interim financial statements under prc accounting standards and international financial reporting standards have 
been reviewed by pricewaterhousecoopers zhong tian certified public accountants limited company (“pwc”) and 
pricewaterhousecoopers according to the chinese and international review standards respectively. 
board of directors of bank of china limited 
chairman xiao gang, president li lihui, vice president in charge of accounting function zhou zaiqun and general manager in 
charge of the accounting department liu yanfen undertake that the financial statements in the interim report are true and 
complete. 

4 
financial highlights (the report is prepared in accordance with the prc accounting standards for enterprises and the 
accounting systems for financial institutions.） 
at 30 june 2006 at 31 december 2005 at 31 december 
2004 
increase/decrease from 1 january 
2006 to 30 june 2006 
total assets 5,226,933 4,742,806 4,270,443 10.21% 
incl.: loans, net 2,317,408 2,151,893 2,071,693 7.69% 
total liabilities 4,840,480 4,480,186 4,037,705 8.04% 
incl.: customer deposits 4,053,024 3,703,777 3,342,477 9.43% 
total equity attributable to shareholders of the 
bank 357,641 233,842 205,351 52.94% 
net assets per share (rmb) 1.41 1.12 1.10 25.89% 
adjusted net assets per share (rmb)1 1.40 1.11 1.09 26.13% 
half year ended 30 
june 2006 
half year ended 30 
june 2005 
year ended 31 
december 2005 
increase/decrease from first half 
of 2005 to first half of 2006 
operating profit 38,422 33,009 64,744 16.40% 
gross profit 34,013 29,578 55,140 14.99% 
net profit 19,024 16,434 27,492 15.76% 
net profit after deducting non-recurring 
gains/losses 18,314 na 26,174 na 
earnings per share (eps)2 (fully diluted, 
rmb) 0.07 0.09 0.13 (22.22%) 
eps2,3 (weighted average,rmb) 0.09 0.09 0.15 0.00% 
net cash flow from operating activities (117,991) 21,615 13,883 (645.88%) 
1 the data are computed according to the standards concerning the contents and formats of information disclosure by 
companies offering securities to the public (no.3) --- contents and formats of interim report (revision 2003) (zjgsz [2003] 
no.25) promulgated by china securities regulatory commission (csrc). 
2 eps is calculated according to the compiling rules on information disclosure by companies offering securities to the public 
(no.9) --- computation and disclosure of return on net assets and eps promulgated by csrc. 
3 weighted average share capital and net asset are caculated with the number of days as the weight. 
5 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
increase/decrease from 1 
january 2006 to 30 june 
2006 (%) 
return on total assets (annualized) 0.87% 0.72% 0.61% 0.15 
return on share capital1 (annualized, excluding 
minority interests) 12.87% 12.52% 10.23% 0.35 
return on share capital (annualized, including 
minority interests) 13.34% 13.16% 10.92% 0.18 
return on net assets2 (annualized, fully diluted) 10.64% 11.76% 10.19% (1.12) 
return on net assets2 (annualized, weighted 
average) 14.99% 12.62% 10.04% 2.37 
credit cost (annualized) 0.44% 0.50% 1.06% (0.06) 
non-performing loan (npl) ratio 4.19% 4.62% 5.12% (0.43) 
capital adequacy ratio 12. 40% 10.42% 10.04% 1.98 
provision coverage ratio 87.44% 80.55% 68.02% 6.89 
half year ended 
30 june 2006 
half year ended 30 
june 2005 
year ended 31 
december 2005 
increase/decrease from 
first half of 2005 to first 
half of 2006 (%) 
cost to income ratio 35.90% 37.05% 39.30% (1.15) 
proportion of non-interest income 15.67% 14.15% 13.46% 1.52 
net interest margin 2.26% 2.31% 2.32% (0.05) 
1 the data are caculated according to the guidelines on the corporate governance and suppervision of state-owned commercial 
banks (yjf [2006] no.22). 
6 
chairman’s statement 
building a stronger foundation for growth 
the year 2006 will stand out as an important chapter in the history of bank of china limited. we became the first chinese bank to 
be listed in both international and domestic capital markets, which has laid a solid foundation for our vision of becoming a leading 
international bank. i am therefore delighted to present to our constituents in the community and the investing public the performance 
of the bank in the first half of the year. for the six months ended 30 june 2006, we recorded an operating profit of rmb38,422 
million and net profit of rmb19,024 million, representing a year on year increase of 16.40% and 15.76% respectively. our roaa 
was 0.87% and roae was 12.87%, an increase of 0.15% and 0.35% over the end of 2005. 
the satisfactory performance is the result of the bank’s advance with time and reforms introduced over the last two years. we 
completed the financial restructuring in 2004, and the introduction of strategic investors in 2005. on 1 june and 5 july 2006, our 
shares were successfully listed on the stock exchange of hong kong and the shanghai stock exchange respectively, thus making us 
the first chinese bank to be listed in both international and domestic capital markets. we raised hk$86 billion through issuing h 
shares, a new world record in the amount of equity capital raised in an ipo by a financial institution and also the largest ipo in the 
world over the last six years. the issue of a shares on the other hand raised rmb20 billion, making it the largest ipo ever in the a 
share market to date. the listings have enhanced our influence in both the international and domestic markets, giving added splendor 
to our century-old brand. 
the successful ipos have brought our reform to a new starting point and also fueled it with new impetus. they have offered a 
historical opportunity for us to achieve sustainable growth and created a platform to take our businesses to new heights. the ipos 
have strengthened the bank’s capital base, boosted the value of our brand name and market reputation, and will drive us to reform 
further and improve our corporate governance. becoming a listed bank is set to bring profound changes to our corporate value, 
development strategy, organization structure, business flow, staff quality and management practices. it will not only sustain but will 
also speed up our reforms. our goal is to completely transform our operational system and substantively enhance our management 
capabilities. 
however, we are also fully aware that along with the listings will come unprecedented challenges and tests. the bank will be subject 
to both banking and securities regulatory requirements, stringent market discipline and demands to deliver higher returns. we are 
committed to abide strictly by all relevant laws and regulations, disclose truthful, accurate and complete information in a timely 
manner to assure transparency, and to nurture and strengthen our core competitiveness and create maximum value. 
in the second half of 2006, we expect china to maintain a robust yet healthy economic growth. the effects of government 
macro-adjustment measures will become more apparent. the bank will closely monitor the development of the macro-economic 
environment and take advantage of opportunities to achieve strong and steady growth while staying alert to the associated risks. we 
will continue to improve our corporate governance and adhere to the “client-oriented and market-driven” principle. our focus is on 
enhancing profitability and sustainable growth so as to create maximum value for shareholders. by studying the setting up of 
strategic business units along the lines of corporate banking, personal banking and treasury business, we will try to strengthen the 
management of business lines so as to gradually establish a matrix management model commonly adopted by international financial 
institutions. we will also continue to implement the it blueprint to achieve centralized processing operations and set up uniform data 
standards and operational procedures. the ultimate objective of these endeavors is to centralize transaction data processing and 
facilitate the sharing of management information, thereby building a solid platform for improving the bank’s overall competitiveness 
and profitability, and at the same time enhancing internal control. it is also our commitment to build a strong corporate culture with 
work ethics that encourages honesty and integrity, the drive for performance, a people oriented spirit, diligence and accountability 
and the pursuit of excellence. we will cultivate shared values and common behaviour among our employees so as to pool their 
wisdom and ability and provide the bank with the lasting drive for a sustainable development. 
7 
to conclude, i wish to thank all our domestic and overseas customers, our shareholders, our peers and the public for your care and 
support in the past, and hope to have your continuous support in the years to come. i would also like to thank members of the board 
of directors, board of supervisors and senior management for your hard work and shrewd guidance. last but not the least, my 
gratitude goes to our entire staff for its industry and dedication, unswerving as always. 
xiao gang (signature) 
chairman 
president’s statement 
in 2006, bank of china limited was successfully listed in both domestic and international capital markets, which demonstrated the 
wide market recognition of our century-old brand name. on behalf of the management, i would like to thank investors and the 
different constituents in the community for your confidence and support. 
in the first half of 2006, both chinese economy and the world economy registered rapid growth, which enabled us and our peers in 
the domestic as well as international markets to share the opportunity and achievements arising from a booming economy. 
meanwhile, we have been vigilant to the challenges posed by volatility in both markets and the government’s macroeconomic 
adjustment measures in response to which we have taken further measures to improve our risk management to ensure a steady and 
sustainable growth. 
led by the board of directors, management diligently implemented the bank’s strategy, made good progress in diverse areas and 
achieved strong financial results. as at the end of june 2006, the group’s total asset stood at rmb5,226.933 billion, total liabilities 
was rmb4,840.48 billion, and owners’ equity was rmb357.641 billion, representing an increase of 10.21%, 8.04% and 52.94% 
respectively from the end of last year. profit before tax and net profit were rmb34.013 billion and rmb19.024 billion respectively, 
14.99% and 15.76% higher than in the same period last year. 
the surge in our profit during the period was mainly driven by increase of net interest income and non-interest income, and better 
control of credit cost and operating expenses. 
compared with the end of last year, our total customer deposits increased by 9.4% and total loans increased by 7.7%. amount of 
investment securities rose 19.1% and net interest income grew by 12.0%. 
8 
the profit before tax of domestic operations climbed 10.5%, accounting for 63.1% of the group’s total profit before tax compared 
with 59.4% as at the end of 2005. investment banking and insurance business reported a 145.7% surge in profit before tax and 
accounted for 6.6% of the group’s total profit against 3.2% in last year. commercial banking, our core business, boasted a 10.8% 
growth in profit before tax. 
non-interest income registered a 26.2% growth compared with the same period last year, with its contribution to the group’s 
operating profit rising from 14.2% to 15.7%. net service fees and commissions rose 51.4%. 
our lending business grew steadily with total loans up 7.7% from the end of last year. loans made by domestic operations increased 
9.6%, and rmb loans grew 11.2%. our risk management system functioned smoothly with continual improvement in credit asset 
quality. ratio of special mention loan dropped from 12.7% to 10.9% and impaired loan ratio decreased from 4.9% at the end of last 
year to 4.4%. coverage ratio increased from 80.6% to 87.4%. 
the group’s operating profit grew faster than operating expenses. our cost-to-income ratio was successfully lowered from 37.05% to 
35.9%; effective tax rate also decreased from 36.7% to 36.3%. 
management is fully aware that the listings have ushered in a new phase in the century old history of the bank. we will remain alert 
to challenges and operate prudently while actively developing our businesses. we will accelerate product innovation and improve 
service quality, with a view to enhance our core competitiveness. our risk management and internal control will continue to be 
enhanced so as to safeguard against cases and incidents of fraud. we will keep a watchful eye on effective cost control and will push 
forward with our organizational structure reforms, business processes integration and implementation of the it blueprint to achieve 
centralization and cost savings in our operation. human resources reform will also remain our key focus. we are committed to 
building an effective incentive system and nurturing a corporate culture that encourages integrity, performance, responsibility, 
harmony and excellence. we believe that with these initiatives and by offering more training, we will be able to substantially improve 
the overall quality of our workforce. 
li lihui (signature) 
president 
9 
management discussion & analysis 
economic, financial and regulatory environment 
in the first half of 2006, the global economy achieved robust growth. the international monetary fund raised its global gdp growth 
forecast to 4.9% for 2006, which will be the fourth consecutive year with growth rate over 4%. the chinese economy continued to 
maintain its trend of steady expansion, with a year-on-year gdp growth of 10.9% to rmb9,143.3 billion in the first half of 2006. 
commodity price remained stable. during the period, consumer price index rose by 1.3%, investments and exports grew especially 
strongly, while consumption steadily increased. foreign trade climbed 23.4%, 0.2 percentage point higher than the growth rate a year 
earlier. trade surplus reached usd61.4 billion. with strengthened macro-economic adjustment measures, the overheated factors in 
the economy have shown signs of cooling down. total retail sales of consumer goods increased by 13.3%, or 12.4% in real terms, 0.4 
percentage points higher than the growth a year earlier. the chinese economy continued to register fast growth and low inflation. 
in the first half of 2006, china's financial market advanced smoothly with financial credits and money supply increased and more 
financial innovations introduced. rmb interest rate and exchange rate remained stable. by the end of june, rmb had appreciated 
0.94% against usd. the balance of all financial institutions’ rmb and foreign currency loans had increased by 14.34% to 
rmb22.79 trillion, and the balance of deposits had surged by 17.19%. 
2006 is the fifth year following china's entry to the wto. with the country fully opening up its financial sector to the world by the 
end of the year, competition among domestic and foreign financial institutions has become increasingly fierce. 
the china banking regulatory commission (cbrc) promulgated a series of regulatory policies in the first half of 2006, covering 
such areas as the adoption of unified regulatory rating system for to all commercial banks, promotion of corporate governance and 
innovations, approval for banks to offer overseas wealth management services to customers, strengthening regulation of foreign 
exchange risk management and guidance on loan issuance. these policies have significant bearing on the banking industry’s 
profitability and business management. 
the changing economic, financial and regulatory environment has imposed more stringent requirements on the operation and 
management of commercial banks. 
our target this year, the bank will firmly push forward all its reforms in greater depth. while seizing the opportunities arising 
from china's continuous economic growth, it will also vigilantly guard against potential risks for the financial sector caused by 
conflicts in the inner working of the economy. it will accelerate the development of its risk management and internal control system, 
consolidate management and business processes, speed up the implementation of its it blueprint, and make efforts to improve 
management capabilities. it will expedite product and service innovation to enhance its core competitiveness. our goal is to ensure 
the bank develops in a comprehensive, coordinated and sustainable manner, thereby create greater value for shareholders, the bank, 
our clients and employees. 
financial statement analysis 
overview 
as of 30 june 2006, total assets of bank of china limited (“the bank”) and its subsidiaries (“the group”) reached rmb5,226.933 
billion, an increase of rmb484.127 billion or 10.21% over 31 december 2005. total liabilities stood at rmb4,840.48 billion, an 
increase of rmb360.294 billion or 8.04% over 31 december 2005. owners’ equity (excluding minority interests) totaled 
rmb357.641 billion, an increase of rmb123.799 billion or 52.94% over 31 december 2005. 
the group achieved a net profit of rmb19.024 billion in the first half of 2006, a year-on-year increase of rmb2.59 billion or 
15.76%. the group is in a good financial position. 
income statement analysis 
10 
unit: rmb million 
items half year ended 30 june 
2006 
half year ended 30 june 
2005 
year ended 31 december 
2005 
net interest income 54,476 48,658 100,405 
non-interest income 10,126 8,021 15,623 
operating and administrative expenses (23,193) (21,000) (45,604) 
business tax and surcharges (2,987) (2,670) (5,680) 
operating profit 38,422 33,009 64,744 
non-operating income, net 467 1,145 1,381 
net profit before impairment losses 38,889 34,154 66,125 
less: impairment losses (4,876) (4,576) (10,985) 
profit before tax 34,013 29,578 55,140 
less: income tax expense (12,362) (10,860) (22,543) 
less: minority interests (2,627) (2,284) (5,105) 
net profit 19,024 16,434 27,492 
return on net assets and eps calculated in accordance with the compiling rules on information disclosure by companies offering 
securities to the public (no.9) promulgated by csrc 
unit: rmb million 
return on net assets (%) eps (rmb) 
items profit in the 
report period fully diluted weighted average fully diluted weighted average 
profit from main business 38,422 21.49% 30.27% 0.15 0.18 
operating profit 38,422 21.49% 30.27% 0.15 0.18 
net profit 19,024 10.64% 14.99% 0.07 0.09 
net profit after deducting 
non-recurring items 18,314 10.24% 14.43% 0.07 0.08 
reconciliation between prc gaap and ifrs 
financial information 
unit: rmb million 
net assets net profit 
at 30 june 
2006 
at 31 december 
2005 
half year ended 
30 june 2006 
half year ended 30 
june 2005 
prc gaap figures 357,641 233,842 19,024 16,434 
adjustments for accounting standard differences: 
--reversal of revaluation surplus and 
corresponding depreciation (7,794) (7,999) 205 133 
--fair value measurement on investment 
properties 3,199 2,816 438 1,059 
--equity securities classified as available-for-sale 
financial assets at fair value 3,566 1,775 - - 
--early retirement benefit obligation (4,911) (5,097) 186 (1,749) 
--cost method applied on precious metals (757) (637) (120) (83) 
--deferred tax impact 4,222 992 (97) (97) 
--minority interests effect and others 581 727 (159) (516) 
sub-total (1,894) (7,423) 453 (1,253) 
irfs figures 355,747 226,419 19,477 15,181
11 
please refer to appendix ii iv (reconciliation between rprc gaap and ifrs financial information) for details. 
non-recurring items 
unit: rmb million 
items balance 
net gains on disposal of long-term equity investments 141 
non-operating income 1,111 
non-operating expense (644) 
write-back of the impairments recognized in previous 
years 451 
income tax impact of non-recurring items (349) 
total 710 
operation of major subsidiary 
half year ended 30 june 2006 half year ended 30 june 2005 
name boc hong kong (holdings) limited 
listing place and code hong kong · hk2388 
scope of business 
boc hong kong (holdings) limited is a holding company; its subsidiary 
bank of china (hong kong) limited (boc hong kong) provides banking and 
relevant financial services in hong kong. 
net profit (rmb 100million) 45.70 39.93 
proportion of net profit of share 
participating company in current period in 
the net profits of the listed company (%) 
24.02 24.30 
net interest income 
in the first half of 2006, the group achieved a net interest income of rmb54.476 billion, a year-on-year increase of rmb5.818 
billion or 11.96%. the average balance1 and average interest rate2 of the group’s interest-earning assets and interest-bearing 
liabilities are shown in the table below: 
1 average balances of interest-earning assets and interest-bearing liabilities are daily average balances derived from the group’s 
management accounts. 
2 the average interest rate is annualized rate and calculated by dividing interest income/expense by average balance. average interest 
rates in the first half of 2006 and the first half of 2005 are converted into annualized rates. 
12 
unit: rmb million 
half year ended 30 june 2006 half year ended 30 june 2005 year ended 31 december 2005 
average balance average balance average items age balance 
amount percen 
tage 
interest 
income 
and 
expense 
average 
interest 
rate amount percen 
tage 
interest 
income 
and 
expense 
average 
interest 
rate amount percen 
tage 
interest 
income 
and 
expense 
average 
interest 
rate 
interest-earning 
assets 
loans 2,291,998 48% 60,360 5.27% 2,196,061 52% 51,971 4.73% 2,192,058 51% 109,711 5.00% 
debt securities1 1,837,222 38% 30,652 3.34% 1,383,481 33% 19,908 2.88% 1,475,673 34% 44,938 3.05% 
due from and 
placements with 
banks and other 
financial institutions, 
and due from central 
banks 
694,824 14% 8,765 2.52% 639,077 15% 5,587 1.75% 655,359 15% 12,696 1.94% 
sub-total 4,824,044 100% 99,777 4.14% 4,218,619 100% 77,466 3.67% 4,323,090 100% 167,345 3.87% 
interest-bearing 
liabilities 
deposits from 
customers* 4,001,322 89% 38,887 1.94% 3,471,702 88% 23,815 1.37% 3,560,014 88% 55,914 1.57% 
due to and 
placements from 
banks and other 
financial institutions, 
and due to central 
banks 
371,143 8% 4,122 2.22% 336,394 9% 2,827 1.68% 355,856 9% 6,512 1.83% 
special purpose 
borrowings and 
bonds issued 
112,108 3% 2,292 4.09% 113,672 3% 2,166 3.81% 115,843 3% 4,514 3.90% 
sub-total 4,484,573 100% 45,301 2.02% 3,921,768 100% 28,808 1.47% 4,031,713 100% 66,940 1.66% 
net interest income 54,476 48,658 100,405 
net interest spread2 
(%) 2.12% 2.20% 2.21% 
net interest margin3 
(%) 2.26% 2.31% 2.32% 
* include the balance of certificates of deposits issued. 
the following table illustrates changes in the group's net interest income arising from changes of volume and interest rate factors4. 
variances caused by changes in both volume and rate are attributed to interest rate factor. 
1 includes trading and other debt securities at fair value through profit or loss and debt securities investment. 
2 net interest spread=average yield of interest-earning assets - average cost of interest-bearing liabilities 
3 net interest margin=net interest income / average balance of interest-earning assets 
4 volume variance is calculated based on movements in average balances of interest-earning assets and interest-bearing liabilities in 
the report period; and interest rate variance is calculated based on changes in average interest rates on interest-earning assets and 
interest-bearing liabilities in the report period. 
13 
half year ended 30 june 2006 vs half year ended 30 june 2005 
unit: rmb million 
volume interest rate total 
interest income 
loans 2,269 6,120 8,389 
debt securities 6,534 4,210 10,744 
due from and placements with banks 
and other financial institutions, and due 
from central banks 
488 2,690 3,178 
sub-total 9,291 13,020 22,311 
interest expense 
deposits from customers (3,628) (11,444) (15,072) 
due to and placements from banks and 
other financial institutions, and due to 
central banks 
(292) (1,003) (1,295) 
special purpose borrowings and bonds 
issued 30 (156) (126) 
sub-total (3,890) (12,603) (16,493) 
net interest income 5,401 417 5,818 
interest income 
the group’s interest income was rmb99.777 billion in the first half of 2006, a year-on-year increase of rmb22.311 billion or 
28.80%. the growth is attributed to the size expansion as well as the increase of average interest rate of interest-earning assets. the 
average balance of interest-earning assets increased by 14.35% form rmb4,218.619 billion as at 30 june 2005 to rmb4,824.044 
billion as at 30 june 2006. the average interest rate of interest-earning assets climbed by 47 basis points from 3.67% in the first half 
of 2005 to 4.14% in the first half of 2006. 
loans 
the group achieved a loan interest income of rmb60.36 billion in the first half of 2006, a year-on-year increase of rmb8.389 
billion or 16.14%. the growth is mainly due to a 54 basis points increase in the average yield of loans from 4.73% in the first half of 
2005 to 5.27% in the first half of 2006, and a 4.37% increase in the average balance of loans from rmb2,196.061 billion in the first 
half of 2005 to rmb2,291.998 billion in the first half of 2006. the group strictly controlled the loan quality, and achieved a steady 
growth of loans to customers. the growth of the average yield of loans is mainly due to the following factors: (1) continuous pickup 
of foreign currency interest rates; (2) upward adjustment of the benchmark interest rate of rmb loans by people’s bank of china; 
and (3) continuous improvement in the bank’s loan quality. influenced by the low interest rate in rmb money market, the discount 
yield was under pressure, thus partly offset the rapid growth of interest income. 
debt securities 
in the first half of 2006, the group achieved an interest income of rmb30.652 billion from debt securities, a year-on-year increase of 
rmb10.744 billion or 53.97%. the main reason is that the average balance of debt securities soared by 32.80% from rmb1,383.481 
billion in the first half of 2005 to rmb1,837.222 billion in the first half of 2006, and the average yield of securities increased by 46 
basis points from 2.88% in the first half of 2005 to 3.34% in the first half of 2006. the increase in average balance is primarily due to 
the following factors: (1) with continuous increase in deposits from customers, the group invested the funds not used as loans in 
securities which have higher yield than due from and placements with banks and other financial institutions and due from central 
banks; and (2) the group continued to optimize the asset portfolio by reducing the proportion of relatively lower yield due from and 
placements with banks and other financial institutions in the portfolio. increase in average yield was attributable to the increased 
yield of foreign currency securities, which offset the impacts of lower interest rate in the domestic rmb money market. 
due from and placements with banks and other financial institutions and due from central banks 
14 
the group achieved an interest income of rmb8.765 billion from due from and placements with banks and other financial 
institutions and due from central banks in the first half of 2006, a year-on-year increase of rmb3.178 billion or 56.88%. the increase 
is mainly due to: (1) 77 basis points increase in the average yield from 1.75% in the first half of 2005 to 2.52% in the first half of 
2006 driven by the continuous increase of the average yield of foreign currency assets; and (2) the 8.72% increase in average balance 
from rmb639.077 billion in the first half of 2005 to rmb694.824 billion in the first half of 2006 which was attributable to the 
growth of deposit reserves placed with central banks as a result of increasing customer deposits, though partly offset by the reduction 
of low yield due from and placements with banks and other financial institutions. 
interest expense 
in the first half of 2006, the group’s interest expense was rmb45.301 billion, a year-on-year increase of rmb16.493 billion or 
57.25%. the growth is attributable to the size expansion as well as the increase of the average cost of interest-bearing liabilities. the 
average balance of interest-bearing liabilities increased by 14.35% from rmb3,921.768 billion in the first half of 2005 to 
rmb4,484.573 billion in the first half of 2006, and the average cost of interest-bearing liabilities rose by 55 basis points from 1.47% 
in the first half of 2005 to 2.02% in the same period of 2006. 
deposits from customers 
in the first half of 2006, the interest expense for deposits from customers was rmb38.887 billion, a year-on-year increase of 
rmb15.072 billion or 63.29%. the increase in interest expense is mainly attributable to a 57 basis points increase in the interest rate 
from 1.37% in the first half of 2005 to 1.94% in the same period of 2006, and an rmb529.62 billion or 15.26% increase in the 
average balance of deposits from customers from rmb3,471.702 billion in the first half of 2005 to rmb4,001.322 billion in the 
same period of 2006. the growth of interest rate of deposits from customers is principally due to: (1) significant increase in the 
interest rate of low balance foreign currency deposits ; and (2) continuous growth of the overseas market interest rate. the growth of 
the average balance of deposits from customers is largely due to the rapid growth of rmb business with the rapid development of the 
chinese economy, which offset the decline of domestic foreign currency deposits caused by the expectation of rmb appreciation. 
due to and placements from banks and other financial institutions and due to central banks 
in the first half of 2006, the group’s interest expense for due to and placements from banks and other financial institutions and due to 
central banks was rmb4.122 billion, a year-on-year increase of rmb1.295 billion or 45.81%. the growth is primarily attributable to 
a rise in the cost of foreign currency funds with a 54 basis points increase in the interest rate from 1.68% in the first half of 2005 to 
2.22% in the same period of 2006. although the average balance increased by 10.33% from rmb336.394 billion in the first half of 
2005 to rmb371.143 billion in the same period of 2006, the proportion of due to and placements from banks and other financial 
institutions in the interest-bearing liabilities declined from 9% in the first half of 2005 to 8% in the same period of 2006. 
special purpose borrowings and bonds issued 
in the first half of 2006, the group’s interest expense for the special purpose borrowings and bonds issued was rmb2.292 billion, a 
year-on-year increase of rmb126 million or 5.82%. the increase is primarily attributable to the growth of fund cost, with the interest 
rate rising by 28 basis points from 3.81% in the first half of 2005 to 4.09% in the same period of 2006. 
net interest margin and net interest spread 
in the first half of 2006, the group’s net interest spread declined by 8 basis points to 2.12%. due to increase in interest rate, 
contribution from cost free funds increased by 3 basis points; and net interest margin decreased by 5 basis points to 2.26%. the 
decrease in interest margin is mainly attributable to: (1) the proportion of debt securities to interest-earning assets increased by 5 
percentage points, yet the increase of yield was offset by the low interest rate in rmb money market; (2) due to rapid increase in 
interest-earning assets and the bank’s prudence in balancing risk and return, the proportion of loans in the interest-earning assets 
declined and more funds were invested in the debt market; and (3) the cost of foreign currency fund increased. 
in the first half of 2006, based on the market forecast and development needs of assets and liabilities business, the group intensified 
15 
its efforts to absorb rmb deposits, and optimized asset and liability structure. the robust growth in various business lines mitigated 
the negative impact of the decrease in interest spread. the net interest income increased by 11.96% from rmb48.658 billion in the 
first half of 2005 to rmb54.476 billion in the same period of 2006. 
non-interest income 
in the first half of 2006, the group achieved a net non-interest income of rmb10.126 billion, a year-on-year increase of rmb2.105 billion 
or 26.24%. 
unit: rmb million 
half year ended 30 
june 2006 
half year ended 30 
june 2005 
year ended 31 
december 2005 
net fee and commission income 6,841 4,518 9,247 
net trading income (193) 2,993 4,482 
investment gains/losses 1681 149 (248) 
other operating income, net 1,797 361 2,142 
total 10,126 8,021 15,623 
net fee and commission income 
unit: rmb million 
half year ended 30 
june 2006 
half year ended 30 
june 2005 
year ended 31 december 
2005 
settlement and clearing fees 1,794 1,287 2,941 
agency commissions 2,201 1,235 2,735 
credit commitment fees and commissions 1,438 1,308 2,693 
bank card fees 1,365 1,049 2,340 
custodian and other fiduciary service fees 248 235 483 
others 1,120 801 1,506 
fee and commission income 8,166 5,915 12,698 
fee and commission expense (1,325) (1,397) (3,451) 
net fee and commission income 6,841 4,518 9,247 
in the first half of 2006, the group achieved a net fee and commission income of rmb6.841 billion, a year-on-year increase of 
rmb2.323 billion or 51.42%. the increase was mainly attributed to the group’s intensified efforts to drive the growth in fee-based 
businesses. as a result, significant increase was recorded in agency commissions, settlement and clearing fees, and bank card fees. 
agency commission of the group reached rmb2.201 billion, a year-on-year increase of rmb966 million or 78.22%. the growth is 
mainly attributable to increased sales of products and services such as treasury bonds, investment funds and insurance. 
settlement and clearing fees of the group stood at rmb1.794 billion, a year-on-year increase of rmb507 million or 39.39%. the 
growth is primarily attributable to the rapid growth of businesses such as factoring and l/c settlement and personal electronic 
remittance. 
bank card fees of the group reached rmb1.365 billion, a year-on-year increase of rmb316 million or 30.12%. the growth is 
16 
mainly attributable to the intensified efforts of the group on promoting bank cards business in line with market changes and customer 
demand, which led to continuous increase in new card issuance, transaction volume and frequency of atm transactions. 
net trading income 
unit: rmb million 
half year ended 30 june 
2006 
half year ended 30 
june 2005 
year ended 31 december 
2005 
net gains from foreign exchange and foreign exchange 
products 1,302 3,322 2,518 
net gains from interest rate products (1,495) (329) 1,964 
total (193) 2,993 4,482 
the group suffered a net trading loss of rmb193 million in the first half of 2006, a year-on-year decline of rmb3.186 billion or 
106.45%. 
in the first half of 2006, the domestic operations’ spread income from foreign exchange dealings was rmb2.728 billon, a 
year-on-year increase of rmb804 million or 41.79%. the increase is mainly attributable to the change in foreign exchange rate and 
moderate liberalization of personal limits that spurred the growth of personal foreign exchange transactions. during the same period, 
due to interest rate volatility, the group suffered a loss from interest rate instruments of rmb1.495 billion, a year-on-year decrease of 
rmb1.166 billion or 354.41%. 
starting from 21 july 2005, the people’s bank of china (the central bank) adopted a managed floating exchange rate regime. as a 
result of rmb appreciation, the group suffered a net loss of rmb3.5 billion on foreign currency exposure under the restricted 
foreign exchange capital account in the first half of 2006. at the same time, the foreign exchange option contract entered between the 
group and central safe investments limited gave rise to an evaluation gain of rmb300 million. should the above factors be 
excluded, the bank’s net trading income has increased by rmb14 million year-on-year. 
investment income 
unit: rmb million 
half year ended 30 june 
2006 
half year ended 30 
june 2005 
year ended 31 december 
2005 
gains from equity investment 1,587 125 678 
incl.: net gains from investment in associates 339 48 166 
net gains from other equity investments 1,248 77 512 
(losses)/gains from debt investment 94 24 (926) 
total 1,681 149 (248) 
in the first half of 2006, the group’s investment income rocketed by rmb1.532 billion or 1028.19% to rmb1.681 billion. the 
increase is mainly attributable to: (1) the group acquired an additional 5% stake in september 2005 in huaneng international power 
development corporation and thus held 20% stake in total, investment income from which was accounted for based on equity 
method and recognized in net gains from investment in associates; (2) the group sold shares of boc group life assurance limited 
to boc hong kong (holdings) limited; and (3) the investment income of boc international increased. 

17 
other operating income, net 
unit: rmb million 
half year ended 30 june 
2006 
half year ended 30 
june 2005 
year ended 31 december 
2005 
other operating revenues 5,366 2,767 6,617 
insurance premium 4,286 2,624 5,237 
others 1,080 143 1,380 
other operating expense (3,569) (2,406) (4,475) 
insurance claims expense (3,423) (2,168) (3,861) 
others (146) (238) (614) 
total 1,797 361 2,142 
in the first half of 2006, the group’s net income from other operations grew by rmb1.436 billion or 397.78% to rmb1.797 billion, 
which was largely due to the continuous increase in the income from the group’s insurance business and subsidiaries’ other operating 
activities. 
operating and administrative expense 
unit: rmb million 
half year ended 30 june 
2006 
half year ended 30 june 
2005 
year ended 31 december 
2005 
staff cost 13,278 11,654 23,979 
general operating and administrative expense 7,174 6,208 15,742 
depreciation 2,741 3,138 5,883 
total 23,193 21,000 45,604 
in the first half of 2006, the group’s operating and administrative expenses totaled rmb23.193 billion, a year-on-year increase of 
rmb2.193 billion or 10.44%. the increase is mainly attributable to the following factors: (1) the group continued the staff 
compensation reform to enhance its competitiveness; (2) the group implemented the annuity plan; (3) expenses for supporting the 
group’s business growth increased with the expansion of business and increasingly fierce market competition; and (4) depreciation 
expense continued to decline as a result of factors such as the sale and disposal of fixed assets in previous years. 
impairment losses 
unit: rmb million 
half year ended 30 
june 2006 
half year ended 30 june 
2005 
year ended 31 
december 2005 
provision for loan losses 5,062 4,718 10,888 
(write-back of)/provision for impairment of foreclosed 
assets 
(131) 96 133 
(write-back of)/provision for impairment of other 
receivables 
(55) 206 498 
write-back of impairment of fixed assets and others - (444) (534) 
total 4,876 4,576 10,985 
in the first half of 2006, the group’s asset impairment losses increased by rmb300 million or 6.56%. 
provision for interest receivable and other bad debt receivables 
as provided in the accounting system for financial institutions issued by the ministry of finance, financial institutions should 
analyze the recoverability of receivables (including fund placement and premium receivable, but not including interest receivable), 
18 
forecast bad debt losses, and make provision for bad debt losses that are estimated to occur. when loan interest receivable or 
corresponding loan principal is overdue for more than 90 days, the interest receivable should be transferred off balance sheet, and the 
interest income and interest receivable that have been recognized should be reversed. the age of interest receivable is within 90 days. 
in the report period, the group’s bad debt provision was detailed as follows: 
unit: rmb million 
at 30 june 2006 at 31 december 2005 increase 
other receivables 17,538 14,275 3,263 
balance of bad debt 
provision 3,874 3,878 (4) 
income tax analysis 
in the first half of 2006, the group’s income tax expense was rmb12.362 billion, a year-on-year increase of rmb1.502 billion or 
13.83%. the group’s effective tax rate was 36.34%, a year-on-year decrease of 0.38 percentage points. 
balance sheet analysis 
unit: rmb million 
at 30 june 2006 at 31 december 
2005 
at 31 december 
2004 
debt securities1 1,988,271 1,669,591 1,309,479 
due from banks, placements with banks and 
other financial institutions, and due from 
central banks 
640,765 661,478 631,727 
net loans 2,317,408 2,151,893 2,071,693 
fixed assets and construction in progress 75,148 76,320 79,302 
total assets 5,226,933 4,742,806 4,270,443 
due to banks, placements from banks and 
other financial institutions, and due to 
central banks 
388,844 375,288 318,443 
deposits from customers 4,053,024 3,703,777 3,342,477 
special purpose borrowings and bonds 
issued 109,799 112,343 95,802 
total liabilities 4,840,480 4,480,186 4,037,705 
minority interests 28,812 28,778 27,387 
total equity 357,641 233,842 205,351 
total equity and liabilities 5,226,933 4,742,806 4,270,443 
1 including securities available-for-sale, securities held-to-maturity, loans and receivables, trading and other debt securities at fair 
value through profit or loss. 
19 
debt securities 
unit: rmb million 
at 30 june 
2006 
at 31 december 
2005 
at 31 december 
2004 
trading and other bonds at fair value through profit or loss 110,602 107,271 91,012 
debt securities available-for-sale 919,175 593,010 346,532 
debt securities held-to-maturity, net 569,126 607,459 457,994 
debt securities classified as loans and receivables, net 389,368 361,851 413,941 
total 1,988,271 1,669,591 1,309,479 
as of 30 june 2006, security assets of the group reached rmb1,988.271 billion, an increase of rmb318.68 billion or 19.09% over 
31 december 2005. the increase was mainly attributed to the growth of rmb3,26.165 billion in debt securities available-for-sale. 
loans 
as of 30 june 2006, the group had a total loan portfolio of rmb2,405.536 billion, an increase of rmb170.49 billion or 7.6% over 
the previous year-end. loans by domestic operations were rmb1,972.631 billion, an increase of rmb172.708 billion or 9.6% over 
the previous year-end. loans by domestic operations of eastern region grew at the highest rate, with an rmb93.81 billion or 13.1% 
increase over the previous year-end. 
loan portfolio concentrations by geographic region 
loan portfolio concentrations of the group by region 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
domestic operations 1,972,631 82.00% 1,799,923 80.53% 1,734,302 80.80% 
overseas operations 432,905 18.00% 435,123 19.47% 412,160 19.20% 
total 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 
domestic loans by geographic region 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
domestic balance proportion (%) balance proportion (%) balance proportion (%) 
northern region 353,477 17.92% 322,451 17.91% 313,843 18.10% 
northeastern region 135,087 6.85% 131,430 7.30% 128,374 7.40% 
eastern region 813,572 41.24% 719,759 39.99% 679,773 39.20% 
central & southern 
region 470,372 23.85% 444,869 24.72% 433,860 25.02% 
western region 200,123 10.14% 181,414 10.08% 178,452 10.28% 
total 1,972,631 100.00% 1,799,923 100.00% 1,734,302 100.00% 
note: northern region includes beijing municipality, tianjin municipality, hebei province, shanxi province, inner mongolia autonomous 
region, and the head office of boc; 
northeastern region includes heilongjiang province, jilin province, and liaoning province; 
20 
eastern region includes shanghai municipality, jiangsu province, zhejiang province, anhui province, fujian province, jiangxi province, 
and shandong province； 
central & southern region includes henan province, hubei province, hunan province, guangdong province, shenzhen city, guangxi 
autonomous region, and hainan province; 
western region includes chongqing municipality, sichuan province, guizhou province, yunnan province, shaanxi province, gansu 
province, ningxia autonomous region, qinghai province, tibet autonomous region, and xinjiang uighur autonomous region. 
industry concentration of the group’s loans 
as of 30 june 2006, the outstanding balance of the group’s corporate loans was rmb1,864.081 billion, an increase of rmb 152.038 
billion or 8.9% from the beginning of the year. these loans were mainly concentrated in the sectors of manufacturing, commerce and 
services, accounting for 31.75% and 17.35% of total corporate loans respectively. industry concentration of corporate loans by 
domestic operations was consistent with the overall characteristics of the group. 
industry concentration of corporate loans by the group 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
manufacturing 591,909 31.75% 531,191 31.03% 523,506 31.70% 
commerce and 
services 323,348 17.35% 301,863 17.63% 348,432 21.10% 
real estate 201,585 10.82% 190,297 11.11% 187,110 11.40% 
energy, mining 
and agriculture 252,415 13.54% 230,854 13.48% 203,544 12.30% 
transportation 200,503 10.76% 193,428 11.30% 184,449 11.10% 
public utilities 104,827 5.62% 91,924 5.37% 87,731 5.30% 
construction 38,304 2.05% 36,050 2.11% 36,059 2.20% 
financial services 112,153 6.02% 96,245 5.62% 46,518 2.80% 
others 39,037 2.09% 40,191 2.35% 35,072 2.10% 
total 1,864,081 100.00% 1,712,043 100.00% 1,652,421 100.00% 
industry concentration of corporate loans by domestic operations 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
manufacturing 543,831 34.68% 490,898 34.57% 497,317 36.10% 
commerce and services 276,491 17.64% 255,460 17.99% 284,772 20.60% 
real estate 104,121 6.64% 96,390 6.79% 100,932 7.30% 
energy, mining and 
agriculture 233,357 14.88% 210,281 14.81% 186,942 13.50% 
transportation 173,417 11.06% 165,396 11.65% 157,762 11.40% 
public utilities 104,827 6.69% 91,924 6.47% 87,731 6.30% 
construction 32,940 2.10% 30,089 2.12% 27,938 2.00% 
financial services 96,440 6.15% 77,237 5.44% 32,079 2.30% 
others 2,512 0.16% 2,290 0.16% 7,484 0.50% 
total 1,567,936 100.00% 1,419,965 100.00% 1,382,957 100.00%
21 
loans of the group by customers 
as of 30 june 2006, the outstanding balance of the group’s corporate loans was rmb1,864.081 billion, an increase of rmb152.038 
billion or 8.9% from the prior year-end, accounting for 77.5% of the total. the outstanding balance of personal loans was rmb541, 
455 million, an increase of rmb18.452 billion or 3.5% from the prior year-end, accounting for 22.5% of the total. the balance of 
domestic corporation loans increased by rmb147.971 billion or 10.4% compared with the previous year-end, and the balance of 
personal loans increased by 6.5% or rmb 24.737 billion. 
loans of the group by customers 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
corporate loans 1,864,081 77.49% 1,712,043 76.60% 1,652,421 76.98% 
trade bills 269,713 11.21% 225,026 10.07% 177,738 8.28% 
personal loans 541,455 22.51% 523,003 23.40% 494,041 23.02% 
total 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 
loans of domestic operations by customers 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
corporate loans 1,567,936 79.48% 1,419,965 78.89% 1,382,957 79.74% 
trade bills 240,826 12.21% 195,311 10.85% 148,832 8.58% 
personal loans 404,695 20.52% 379,958 21.11% 351,345 20.26% 
total 1,972,631 100.00% 1,799,923 100.0% 1,734,302 100.00% 
personal loans of domestic operations by products 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
mortgage 308,387 76.20% 286,829 75.49% 240,640 68.49% 
credit cards 2,212 0.55% 1,929 0.51% 1,441 0.41% 
others 94,096 23.25% 91,200 24.00% 109,264 31.10% 
total 404,695 100.00% 379,958 100.00% 351,345 100.00% 
notes: others mainly include auto loans, personal investment loans and personal education loans. 
loans of the group by currencies 
as of 30 june 2006, the outstanding balance of the group’s loans in rmb was rmb1,643.896 billion, an increase of rmb166.037 
billion or 11.2% from the beginning of the year. it accounted for 68.3% of the total. 
loans of the group by currencies 
unit: rmb million
22 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
rmb 1,643,896 68.34% 1,477,859 66.12% 1,378,760 64.23% 
foreign 
currencies 761,640 31.66% 757,187 33.88% 767,702 35.77% 
total 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 
loans of domestic operations by currencies 
unit: rmb million 
at 30 june 200630 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
rmb 1,641,482 83.21% 1,475,821 82.00% 1,378,343 79.50% 
foreign 
currencies 331,149 16.79% 324,102 18.00% 355,959 20.50% 
total 1,972,631 100.00% 1,799,923 100.00% 1,734,302 100.00% 
loans of the group by types of security 
as of 30 june 2006, a large proportion of the group’s loans were secured, accounting for 45.85% of the total. unsecured loans 
accounted for 24.1%. 
loans of the group by types of security 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
types of security balance proportion (%) balance proportion (%) balance proportion (%) 
unsecured 578,987 24.08% 475,764 21.29% 447,800 20.86% 
guaranteed 723,502 30.07% 684,824 30.64% 650,905 30.32% 
collateralized and 
other secured 1,103,047 45.85% 1,074,458 48.07% 1,047,757 48.82% 
total 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 
quality of the group’s loans 
as of 30 june 2006, the group’s total impaired loans were rmb105.944 billion, a decrease of rmb3.367 billion over the previous 
year-end; and the impaired loan ratio was 4.4%, a decrease of 0.49 percentage points. the impaired loans of domestic operations 
were rmb99.543 billion, a decrease of rmb2.579 billion over the previous year-end; and the impaired loan ratio was 5.05%, a 
decrease of 0.62 percentage points. the impaired loans of overseas operations were rmb6.401 billion, a decrease of rmb770 
million over the previous year-end; and the impaired loan ratio was 1.48%, a decrease of 0.17 percentage points. 

23 
impaired loan portfolio concentrations of the group by region 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance 
proportion 
(%) 
impaired 
loan ratio balance 
proportion 
(%) 
impaired loan 
ratio balance 
proporti 
on (%) 
impaired 
loan ratio 
domestic 
operations 
99,543 93.96% 5.05% 102,140 93.44% 5.67% 104,327 88.3% 6.02% 
overseas 
operations 
6,401 6.04% 1.48% 7,171 6.56% 1.65% 13,830 11.7% 3.36% 
total 105,944 100.00% 4.40% 109,311 100.00% 4.89% 118,157 100.0% 5.50% 
notes: 
1. if objective impairment evidence shows that the future cash flow of loans will decreases and the amount can be estimated, then the 
bank identifies the loan as impaired loan and recognize the losses as well. 
2. impaired loan ratio is calculated by dividing the balance of impairment loans with the balance of total loans. 
impaired loan portfolio concentrations of domestic operations by region 
unit: rmb million 
domestic at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance 
proportion 
(%) 
impaired loan 
ratio 
balance 
proportion 
(%) 
impaired loan 
ratio 
balance 
proportion 
(%) 
impaired 
loan ratio 
northern 
region 
18,457 18.54% 5.22% 17,699 17.30% 5.50% 22,600 21.70% 7.20% 
northeastern 
region 
11,968 12.03% 8.84% 12,363 12.10% 9.40% 13,170 12.60% 10.26% 
eastern 
region 
25,962 26.08% 3.19% 27,811 27.20% 3.90% 28,595 27.40% 4.21% 
central & 
southern 
region 
30,071 30.21% 6.39% 30,611 30.00% 6.90% 26,611 25.50% 6.13% 
western 
region 
13,085 13.14% 6.54% 13,656 13.40% 7.50% 13,351 12.80% 7.48% 
total 99,543 100.00% 5.05% 102,140 100.00% 5.70% 104,327 100.00% 6.02% 
industry concentration of impaired corporate loans by domestic operations 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance 
proportion 
(%) 
impaired 
loan ratio 
balance 
proportion 
(%) 
impaired loan 
ratio 
balance 
proportion 
(%) 
impaired 
loan ratio 
manufacturing 34,856 38.86% 6.41% 32,969 35.58% 6.76% 32,218 33.37% 6.48% 
commerce and 
services 
23,162 25.83% 8.38% 25,443 27.46% 9.96% 26,344 27.29% 9.25% 
real estate 11,596 12.93% 11.14% 12,763 13.77% 13.24% 13,453 13.93% 13.33%
24 
energy, mining and 
agriculture 
6,624 7.39% 2.84% 6,665 7.19% 3.17% 6,588 6.82% 3.52% 
transportation 7,176 8.00% 4.14% 7,759 8.37% 4.69% 9,729 10.08% 6.17% 
public utilities 4,312 4.81% 4.11% 4,627 4.99% 5.03% 5,564 5.76% 6.34% 
construction 1,717 1.91% 5.21% 2,226 2.40% 7.40% 2,569 2.66% 9.20% 
financial services 235 0.26% 0.24% 215 0.24% 0.28% 72 0.08% 0.22% 
others 6 0.01% 0.26% 0 0.00% 0.00% 6 0.01% 0.08% 
total 89,684 100.00% 5.72% 92,667 100.00% 6.54% 96,543 100.00% 6.98% 
impaired loans of the group by customers 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance 
proportion 
(%) 
impaired 
loan ratio balance balance 
proportion 
(%) 
impaired 
loan ratio balance balance 
corporate loans 95,120 89.78% 5.10% 98,669 90.26% 5.76% 108,005 91.41% 6.54% 
personal loans 10,824 10.22% 2.00% 10,642 9.74% 2.03% 10,152 8.59% 2.05% 
total 105,944 100.00% 4.40% 109,311 100.00% 4.89% 118,157 100.00% 5.50% 
impaired loans of domestic operations by customers 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance 
proportion 
(%) 
impaired 
loan ratio balance 
proportion 
(%) 
impaired 
loan ratio balance 
proportion 
(%) 
impaired 
loan ratio 
corporate loans 89,684 90.10% 5.72% 92,667 90.73% 6.53% 96,543 92.55% 6.99% 
personal loans 9,859 9.90% 2.44% 9,473 9.27% 2.49% 7,784 7.45% 2.22% 
total 99,543 100.00% 5.05% 102,140 100.00% 5.67% 104,327 100.00% 6.02% 
impaired personal loans of domestic operations by products 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance 
proportion 
(%) 
impaired 
loan ratio balance 
proportion 
(%) 
impaired 
loan ratio balance 
proportion 
(%) 
impaired 
loan ratio 
mortgage 3,930 39.87% 1.27% 3,837 40.50% 1.34% 3,608 46.35% 1.50% 
credit cards 267 2.71% 12.08% 228 2.41% 11.82% 218 2.80% 15.13% 
others 5,662 57.42% 6.02% 5,408 57.09% 5.93% 3,958 50.85% 3.62% 
total 9,859 100.00% 2.44% 9,473 100.00% 2.49% 7,784 100.00% 2.22% 
5-category classification of loans 
as of 30 june 2006, the group’s non-performing loans (npls) were rmb100.788 billion in accordance with regulatory 
classification standards, a decrease of rmb2.438 billion over the previous year-end; with npl ratio at 4.19%, a decrease of 0.43 
percentage points. npls of domestic operations were rmb96.519 billion, a decrease of rmb1.69 billion over the previous year-end, 
with npl ratio at 4.89%, a decrease of 0.57 percentage points. loans of the group classified as special mention stood at 
rmb261.788 billion, a decrease of rmb22.26 billion over the previous year-end, accounting for 10.88% of total loans, a decrease of 
25 
1.83 percentage points. 
asset quality of the group 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
pass 2,042,960 84.93% 1,847,772 82.67% 1,611,936 75.10% 
special mention 261,788 10.88% 284,048 12.71% 424,606 19.78% 
substandard 42,082 1.75% 45,573 2.04% 61,289 2.86% 
doubtful 43,479 1.81% 44,550 1.99% 32,931 1.53% 
loss 15,227 0.63% 13,103 0.59% 15,700 0.73% 
total 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 
total npls 100,788 4.19% 103,226 4.62% 109,920 5.12% 
asset quality of domestic operations 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
pass 1,625,776 82.42% 1,430,210 79.46% 1,227,414 70.77% 
special mention 250,336 12.69% 271,504 15.08% 408,571 23.56% 
substandard 40,917 2.07% 44,056 2.45% 57,656 3.32% 
doubtful 41,760 2.12% 42,852 2.38% 29,787 1.72% 
loss 13,842 0.70% 11,301 0.63% 10,874 0.63% 
total 1,972,631 100.00% 1,799,923 100.00% 1,734,302 100.00% 
total npls 96,519 4.89% 98,209 5.46% 98,317 5.67% 
deposits from customers 
unit: rmb million 
at 30 june 2006 at 31 december 
2005 
at 31 december 
2004 
short-term1 corporate deposits 1,467,863 1,323,444 1,150,115 
short-term saving deposits 2,044,461 1,911,921 1,756,312 
long-term2 corporate deposits 32,157 26,317 32,743 
long-term saving deposits 339,763 313,703 296,246 
securities and margin deposits 168,780 128,392 107,061 
total 4,053,024 3,703,777 3,342,477 
as of 30 june 2006, the corporate deposits of the group reached rmb4,053.024 billion，an increase of rmb349.247 billion or 
9.43% over the previous year-end. of them, the corporate and personal deposits increased by rm150.259 billion and 158.6 billion 
respectively. 
1 include demand deposits and time deposits less than (including) one year. 
2 refer to long-term deposits beyond a year. 
26 
deposits from customers by currencies 
as of 30 june 2006, the balance of the group’s rmb deposits increased by rmb344.697 billion or 13.6% from the beginning of the 
year to rmb2,876.575 billion. the balance of rmb deposits accounted for 71% of total deposits. 
unit: rmb million 
equity unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
minority interests 28,812 28,778 27,387 
equity 357,641 233,842 205,351 
total equity 386,453 262,620 232,738 
in the first half of 2006, the bank issued, at a premium, ordinary shares to the national council for social security fund, and then 
issued, at a premium, overseas listed shares (h shares) to overseas investors and ordinary shares (a shares) to domestic investors. 
for details, please refer to appendix: note iii, 17(1) of the accountants’ report. 
changes in shareholder’s equity within the report period 
unit: rmb million 
share 
capital 
capital 
reserve 
statutory 
reserve 
general and 
regulatory 
reserves 
undistributed 
profit 
reserve for fair value 
changes of 
available-for-sale 
securities 
currency 
translation 
differences 
total 
balance at 1 january 
2006 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
net profit for the 
period - - - - 19,024 - - 19,024 
issue of ordinary 
shares 44,412 72,567 - - - - - 116,979 
appropriation to 
statutory reserves - - 2,108 - (2,108) - - - 
appropriation to 
general and 
regulatory reserves 
- - - 4,291 (4,291) - - - 
net change in fair 
value of 
available-for-sale 
securities 
- - - - - (10,574) - (10,574) 
dividends - - - - (1,375) - - (1,375) 
currency translation 
differences - - - - - - (255) (255) 
others - - - (2) 2 - - - 
balance at 30 june 
2006 253,839 76,545 8,095 9,398 23,837 (11,954) (2,119) 357,641 
at 30 june 2006 at 31 december 2005 at at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
rmb 
2,876,575 70.97% 2,531,878 68.36% 2,093,272 62.63% 
foreign currencies 
1,176,449 29.03% 1,171,899 31.64% 1,249,205 37.37% 
total 
4,053,024 100.00% 3,703,777 100.00% 3,342,477 100.00%
27 
balance of major off-balance sheet items 
the balance of major off-balance sheet items of the group at the end of the reporting period is as follow. 
unit: rmb million 
at 30 june 2006 at 31 december 2005 
acceptance 230,434 195,234 
letter of guarantee issued 255,779 212,987 
letter of credit issued 115,686 101,195 
irrevocable credit commitment and others 422,297 386,346 
total 1,024,196 895,762 
supplementary financial information as of the end of the last three report periods: 
major regulatory indicators 
regulatory 
criteria 
at 30 june 2006 
at 31 december 
2005 
at 31 december 
2004 
capital adequacy ratio (%) ≥8 12.4 10.4 10.0 
core capital adequacy ratio (%) ≥4 10.6 8.1 8.5 
rmb ≥25 32.0 48.9 35.3 
liquidity ratio (%) foreign 
currencies 
≥25 45.8 87.4 78.6 
rmb ≤75 57.2 51.7 59.6 
loan-deposit ratio (%) foreign 
currencies 
≤85 64.7 70.4 67.9 
npl ratio (%) - 4.2 4.6 5.1 
provision coverage (%) ≥60 87.4 80.6 68.0 
proportion of single largest 
customer loans (%) 
≤10 3.9 4.7 3.4 
proportion of loans to top 10 
customers (%) 
≤50 19.3 25.6 25.4 
the above regulatory indicators are calculated in accordance with relevant provisions of cbrc, and the financial figures are based 
on the accounting standards for business enterprises and the accounting systems for financial enterprises. the liquidity ratio is 
calculated in accordance with relevant provisions of cbrc in 2006. 
capital adequacy ratio 
the bank calculates and discloses the capital adequacy ratio in line with the management measures on capital adequacy ratio of 
commercial banks (cbrc decree [2004] no.2) promulgated by the china banking regulatory commission (cbrc) on 23 
february 2004. in 2005, the group calculated market risk capital in line with the provisions of the circular of the general office of 
china banking regulatory commission on issuing market risk capital calculation sheet and explanation for commercial banks 
(yjf [2004] no.374) promulgated by the cbrc. as of 30 june 2006, the group’s capital adequacy ratio increased by 1.98 
percentage points to 12.40%, while core capital adequacy ratio declined by 2.55 percentage points to 10.63%. 
the group’s net capital amounted to rmb452.027 billion as of 30 june 2006, an increase of rmb125.79 billion. the net core capital 
grew by rmb134.728 billion to rmb387.698 billion, and risk-weighted assets (excluding market risk) increased by rmb370.47 
28 
billion to rmb3,163.659 billion. the market risk assets of the group were rmb38.549 billion, translating into risk assets of 
rmb481.868 billion. 
unit: rmb million/% 
items at 30 june 2006 at 31 december 2005 increase/decrease 
net core capital（a） 387,698 252,970 134,728 
net capital（b） 450,027 326,237 125,790 
risk-weighted assets（c） 3,163,659 2,793,189 370,470 
market risk capital（d） 38,549 27,025 11,524 
core capital adequacy ratio (%)［e=a/(c+d*12.5)］ 10.63% 8.08% 2.55% 
capital adequacy ratio (%)［f=b/(c+d*12.5)］ 12.40% 10.42% 1.98% 
reporting by region 
at 30 june 2006 unit: rmb million 
mainland hong kong & 
macau 
other overseas 
regions eliminations group 
net interest income 45,078 8,549 845 4 54,476 
non-interest income 4,371 6,189 152 (586) 10,126 
operating and administrative 
expenses (18,920) (3,618) (687) 32 (23,193) 
operating profit 27,584 11,091 297 (550) 38,422 
(charge)/write-back for 
impairment losses (5,932) 935 121 - (4,876) 
gross profit 21,824 12,284 455 (550) 34,013 
income tax (10,751) (1,672) (142) 203 (12,362) 
profit attributable to the 
minority (4) (2,623) - - (2,627) 
net profit 11,069 7,989 313 (347) 19,024 
segment assets 4,268,205 993,715 199,169 (234,156) 5,226,933 
segment liabilities (3,917,105) (897,042) (191,882) 165,549 (4,840,480) 
at 30 june 2005 unit: rmb million 
mainland hong kong & 
macau 
other overseas 
regions eliminations group 
net interest income 40,434 7,380 844 - 48,658 
non-interest income 4,860 2,712 449 - 8,021 
operating and administrative 
expenses (17,046) (3,358) (596) - (21,000) 
operating profit 25,612 6,710 687 - 33,009 
(charge)/write-back for 
impairment losses (6,591) 1,805 210 - (4,576) 
gross profit 19,744 8,882 952 - 29,578 
income tax (9,472) (1,228) (160) - (10,860) 
profit attributable to the 
minority 9 (2,293) - - (2,284) 
net profit 10,281 5,361 792 - 16,434 
segment assets 3,803,989 966,225 186,982 (214,390) 4,742,806 
segment liabilities (3,584,086) (871,046) (178,853) 153,799 (4,480,186)
29 
during the first half of 2006, the chinese mainland remained to be the primary business region of the group and the important 
sources of income and net profit as well, accounting for 78% of total assets and 57% of total profit of the group. hong kong and 
macau were also key business regions of the group, accounting for 18% of total assets and 41% of total profit of the group. 
reporting by business line 
at 30 june 2006 unit: rmb million 
corporate 
banking 
personal 
banking 
treasury 
services 
investment 
banking 
insurance 
business others eliminations total 
net interest income 26,602 16,881 11,376 19 250 (656) 4 54,476 
non-interest income 5,029 4,147 (1,471) 1,324 198 1,536 (637) 10,126 
operating and 
administrative expenses (8,588) (11,677) (2,876) (224) (103) (406) 681 (23,193) 
operating profit 21,565 8,892 6,006 1,117 342 452 48 38,422 
(charge)/write-back for 
impairment losses (4,202) (720) 1 (5) 6 44 - (4,876) 
gross profit 17,419 8,299 6,052 1,110 388 1,295 (550) 34,013 
segment assets 1,813,042 637,280 2,692,140 18,079 17,153 84,279 (35,040) 5,226,933 
capital expenditure 416 782 31 6 2 953 - 2,190 
at 30 june 2005 unit: rmb million 
corporate 
banking 
personal 
banking 
treasury 
services 
investment 
banking 
insurance 
business others eliminations total 
net interest income 25,744 16,021 7,056 63 183 (409) - 48,658 
non-interest income 4,135 2,558 746 335 46 243 (42) 8,021 
operating and 
administrative expenses (7,876) (10,148) (2,680) (195) (88) (301) 288 (21,000) 
operating profit 20,548 7,995 4,362 201 140 (483) 246 33,009 
(charge)/ write-back for 
impairment losses (5,471) 819 19 1 (2) 58 - (4,576) 
gross profit 15,184 9,029 4,452 203 134 576 - 29,578 
segment assets 1,658,718 603,891 2,399,377 15,159 12,398 77,644 (24,381) 4,742,806 
capital expenditure 342 665 32 4 25 698 - 1,766 
with effect from 1 january 2006, the internal funding transfer pricing mechanism of the bank was revised. the new pricing 
mechanism is based on the market deposit and lending rates, adjusted for pre-determined margins with reference to the different 
products and respective maturities. previously, blended mid prices between the bank’s average cost of funding and average yield 
on interest bearing assets were adopted, without taking into consideration the variety of products and respective maturities. the 
reason for the change is primarily to better reflect the performance of the individual segments as part of the bank’s efforts to enhance 
its assets and liabilities management capability. above segment information at 30 june 2006 is based on the new transfer pricing. 
30 
business overview 
commercial banking business 
the bank operates three principal lines of business – commercial banking, investment banking and insurance. with a global presence 
in 27 countries and regions, we maintain correspondent relationships with over 1,400 foreign banks which collectively have 46,900 
branches worldwide. leveraging our global network, quality services, and operational strengths, we enjoy a distinctive competitive 
advantage in the domestic banking market. 
corporate banking 
corporate banking refers to a variety of financial products, credit facilities and financial solutions that we provide to our customers, 
including deposit-taking, lending, trade finance, settlement, clearing and custody. 
corporate deposits and loans: the bank continued to strengthen marketing efforts to promote corporate deposits. rmb corporate 
deposits maintained its sustainable and rapid growth momentum which has persisted over the years. as at the end of june 2006, the 
balance of domestic rmb corporate deposits was rmb 1,142.1 billion, an increase of rmb146.7 billion or 14.7% from the prior 
year-end with a market share of 8.2% among all financial institutions1. the bank actively expanded the key customer segment and 
applied differentiation policies in business management and service delivery, leveraged concerted marketing strengths between the 
head office and branches in marketing for key projects and speeded up the development of quality asset business. as at the end of 
june 2006, the outstanding balance of domestic rmb corporate loans stood at rmb 1,236.7 billion, an increase of rmb 140.9 
billion or 12.8% from the prior year-end, representing a market share of 6.7% among all financial institutions. while maintaining the 
stable growth of rmb corporate deposits, the bank also strengthened its efforts in promoting foreign currency corporate deposits in a 
bid to sustain its leading position in the market. as at the end of june 2006, the balance of domestic foreign currency corporate 
deposits was usd 17.67 billion, an increase of usd1.29 billion from the prior year-end, with a market share among all financial 
institutions of 21.1%. fully leveraging its strength in foreign exchange business, the bank actively conducted product innovation and 
seized opportunities to develop its trade finance business, which promoted the growth in foreign currency corporate deposits. by the 
end of the report period, the outstanding balance of domestic foreign currency corporate loans was usd41.44 billion, an increase of 
usd1.28 billion, and the market share among all financial institutions was 33.5%. the balance of foreign currency corporate 
deposits of overseas operations was usd27 billion, and outstanding balance of foreign currency corporate loans was usd 37.04 
billion. 
corporate deposits of the group by currencies (unit: rmb billion) 
30 june 2006 31 december 2005 
rmb corporate deposits 1,143.1 995.9 
foreign currency corporate deposits 356.9 353.9 
total corporate deposits 1,500 1,349.8 
in the first half of 2006, the bank devoted great efforts to expand its high-quality customers segment, and forged ahead with 
1 all financial institutions include: people’s `bank of china, policy banks, state-owned commercial banks, other commercial banks, 
urban commercial banks, rural commercial banks, urban credit cooperatives, rural cooperative banks, rural credit 
cooperatives, financial companies, trust and investment corporations, leasing companies, and savings and remittance 
bureaus. 
31 
reforming the corporate business operation and management model. it continued to strengthen joint marketing between the head 
office and branches on key projects or to key customers, expanded quality asset business, and enhanced cooperation between product 
departments to expand cross selling. it also reinforced collaboration between domestic operations and boc hong kong, boc 
international, boc investment, boc insurance and other overseas operations to promote the overall competitiveness of its corporate 
banking. by launching initiatives such as pilot projects targeting small enterprises and strengthening product innovation, the bank 
seeks to ensure sustainable and healthy development of its corporate business. 
corporate loans of the group by currencies (unit: rmb billion) 
30 june 2006 31 december 2005 
rmb corporate loans 1,239.2 1,097.9 
foreign currency 
corporate loans 
624.9 614.1 
total corporate loans 1,864.1 1,712 
institutional banking: institutional banking business of the bank refers to various asset, liability and fee-based services the bank is 
engaged in by leveraging on its own resources, with a view to serving various financial institutions and generating comprehensive 
benefits. institutional deposits grew rapidly in may-june 2006 as influenced by the stock market. at the end of june 2006, the 
balance of rmb deposits from financial institutions for domestic operations was rmb172.33 billion, an increase of rmb18.27 
billion from the prior year-end. the balance of current and time foreign currency deposits from financial institutions for domestic 
operations was usd9.87 billion, a decrease of usd180 million. 
since 1987, the bank has sequentially designated its new york, tokyo and frankfurt branches as the major clearing channels for us 
dollar, yen and euro respectively. over years’ efforts, the bank has set up a comprehensive overseas clearing system which covers 
different currencies and regions and provides domestic and overseas customers with efficient and convenient clearing services. 
custody and fund distribution: the bank serves as custodian for a diverse range of closed-end funds, open-end funds, brokerage 
wealth management programs, social security fund, insurance companies, qfii, annuity funds, trust companies, asset securitization 
capitals and emerging products such as industry funds and qdii etc. the funds we distribute as agent cover all types of open-end 
funds such as equity, balanced and bond funds, brokerage wealth management program, and investment-linked insurance products. 
in the first half of 2006, the environment of custody and distribution operations improved generally. facing an active stock market, 
investors have quickened the pace of investment and more innovations have been introduced. the fund distribution and custody 
business thus maintained generally healthy and fast development. as at the end of june 2006, total assets in the bank’s custody, 
leading the market, reached nearly rmb210 billion, an increase of 20% over the year beginning. total volume of the bank’s fund 
distributions exceeded rmb28 billion, a year-on-year increase of 50%. 
in the first half of 2006, the bank achieved new breakthroughs in custody business for qfii funds, insurance funds, corporate annuity 
and local social insurance fund, making it the largest chinese qfii custodian. 
international settlement and trade finance: the bank’s international settlement and trade finance services include issuance of 
import letters of credit, collection and presentation of document under export letter of credit, import bill advance, export bill purchase, 
forfeiting, confirmation of letters of credit, letter of guarantee and factoring. in addition to traditional international settlement and 
trade finance services, the bank also exclusively provides such services as processing trade account services, tax payment guarantee 
etc, meeting customers’ different settlement and financing needs. 
during the first half of 2006, the total volume of international settlements reached usd420.49 billion, an increase of 12.6% 
year-on-year. of the total amount, usd269.9 billion was carried out by the group’s domestic operations, a year-on-year increase of 
10.7%, and usd150.5 billion was by overseas operations, a year-on-year increase of 16.2%. thanks to the steady growth of domestic 
economy, the volume of domestic trade finance surged sharply, with factoring business climbing 223%. the growth of international 
trade finance slowed down due to the pickup of interest rate in the international market. in the first half of 2006, the group undertook 
32 
total volume of international trade finance of usd29.17 billion, a year-on-year increase of 13.3%. of the total amount, usd13.14 
billion was undertaken by domestic operations, and usd19.91 billion was by overseas operations. the volume of letters of guarantee 
denominated in foreign currencies issued by domestic operations was usd4.77 billion，a year-on-year increase of 83.5%; and those 
denominated in rmb was rmb37.3 billion, a year-on-year increase of 109.5%. the volume of international factoring transactions 
undertaken by domestic operations was usd2.58 billion, representing an increase of 27.4% over the same period in last year; and the 
volume of domestic factoring transactions was rmb12.76 billion, reflecting a year-on-year increase of 192.3%. 
international settlement volume of the group (unit: usd billion) 
year 30 june 2006 30 june 2005 
business volume 420.49 373.39 
the bank strengthened innovation and improved portfolioed application of trade finance and fee-based products in the first half of 
2006. a series of competitive products were launched, including “export quan yi da, import hui li da, import bao fu da, and 
e-customs declaration”. the bank also developed such new products and services as forfeiting under export credit insurance. these 
product innovations highlighted the bank’s distinctive advantages in its products and services of international settlement and trade 
finance, and have helped to consolidate its leadership in this arena. 
personal banking 
personal banking refers to the financial services provided by the bank to residents or households, including deposit-taking, lending, 
wealth management and bank card services. 
savings deposits: as at the end of june 2006, the balance of domestic rmb savings deposits was rmb 1,573.8 billion, an increase 
of rmb157.44 billion over the prior year-end, representing a market share of 10.2%, an increase of 0.1 percentage point. the 
balance of domestic foreign currency savings deposits totaled usd31.69 billion, a decrease of usd820 million from the prior 
year-end, representing a market share of 49.8%. savings deposits at overseas operations amounted to usd69.68 billion (including 
rmb8.97 billion of savings deposits), an increase of usd1.91 billion. the decrease of foreign currency savings deposits was mainly 
attributable to the reform of the rmb exchange rate regime, which buoyed the market’s expectation of further rmb appreciation and 
weakened residents’ desire to hold such deposits. 
group savings deposits of the group by currencies (unit: rmb billion) 
at 30 june 2006 at 31 december 2005 
rmb savings deposits 1,582.7 1,425.4 
foreign currency 
savings deposits 
801.5 800.2 
total savings deposits 2,384.2 2,225.6 
personal loans at the end of june 2006, the outstanding balance of domestic personal loans was rmb 404.7 billion, an increase of 
rmb 24.7 billion from the prior year-end. of the total personal loans, the balance of residential mortgage loans was rmb 308.4 
billion, an increase of rmb 21.6 billion. the balance of overseas personal loans was usd 17.1 billion, a decrease of usd620 
million from the prior year-end. 
in the first half of 2006, the bank strengthened marketing efforts of personal residential mortgage loans through its direct-sale model 
under a unified brand, i.e. “ideal home”, and launched two competitive new products, namely “yi ju bao” first-hand residential 
mortgage loans and “an ju bao” second-hand residential mortgage loans. it also promoted strategic cooperation with leading real 
estate developers in china. as at end of june 2006, the bank has a network of over 7,000 domestic outlets offering consumer loans 
through direct-sale model, accounting for more than 60% of all its outlets in the country. 
33 
personal loans of the group by categories as of june 2006 
residential mortgage 
loans 
auto loans credit cards and others 
30 june 2006 79.07% 4.50% 16.43% 
31 december 2005 78.97% 5.35% 15.68% 
note: (1) others include personal investment and operation loan and personal loans to finance education. 
wealth management in the first half of 2006, the bank launched “boc global wealth management service” in the wealth 
management centers of domestic operations. over 250 wealth management centers are capable of offering services of unified service 
standard to the bank’s vip customers. during the period, the bank also launched a series of foreign exchange wealth management 
products which are linked to the performance of exchange rate, oil and gold, and rmb structured wealth management products 
which are linked to the performance of exchange rate and gold. an advisory team was established comprising over 20 experts from 
the global markets department and personal banking department of the head office, boc hong kong, boci and boci china, to 
promote the “boc wealth management” brand among customers. the bank has also built a stronger wealth management team with 
over 2, 300 wealth management managers at various domestic branches, of whom nearly 900 are certified financial planner. 
bank cards 
the bank provides customers with such bank card services as single and dual-currency debit cards, quasi-credit cards, credit cards 
and foreign currency card agency transaction services. 
in the first half of 2006, the bank steadily pushed forward the establishment of the credit card business unit in cooperation with the 
royal bank of scotland group. it also strengthened the operation and risk management of bank card business, actively promoted per 
card transaction volume and usage frequency and steadily increased bank card business income. the bank’s domestic operations 
realized total bank card fees of rmb960 million, a year-on-year increase of 51.4%. 
as at the end of june 2006, the domestic operations of boc issued a total of 94,633,800 great wall rmb debit cards, 7.03 million 
boc great wall credit cards, and 1.09 million boc credit cards, an increase of 15.2%, 12.5% and 561%, respectively, over the 
same period of last year. the volume of foreign currency card settlements was rmb 10,482 million, a year-on-year increase of 
16.6%. transaction volume of great wall rmb cards reached rmb65.1 billion, an increase of 47.7%. 
in the first half of 2006, the bank continued to enhance bank card product innovation, and launched a variety of bank cards, 
including boc city card (a standard rmb credit card featured by installment), boc jiuguang jcb co-branded credit card, boc 
beida credit card, and boc golden eagle co-branded card. it also jointly launched the great wall jiashi fund co-branded card, 
great wall zhongsheng co-branded card and some other cards with a number of large enterprises and public institutions. these 
products were well accepted by the market. 
goods and services purchased with great wall rmb cards of domestic operation (unit: rmb billion) 
30 june 2006 30 june 2005 
goods and services purchased with the cards 65.09 44.08 
treasury business 
the bank is engaged in treasury business including investments and transactions on its own account, and meanwhile provides 
treasury products and services for corporate and personal customers. it takes a leading position among domestic commercial banks in 
foreign exchange treasury services. 
34 
the bank’s investment covers fields such as foreign currency bonds, money market, derivatives and asset management; its trading 
business includes foreign exchange transactions, foreign exchange swaps, foreign exchange settlement and sale, foreign exchange 
options, foreign currency bonds and derivatives, rmb bond and precious metal. the bank has a league of experienced traders and 
risk managers supporting its treasury business, ensuring that it earns profit with risks controlled within acceptable level. 
the development and quotation of new products is one of the bank’s major competitive edges. in recent years, the central bank has 
launched a number of new initiatives, including the market maker system, tier-1 foreign exchange trader, otc, forward, spot, interest 
rate swap, and inter-bank rmb foreign exchange swap. these initiatives have seen pace of marketization of rmb exchange rate 
regime quickened notably. subsequently, the people’s bank of china, cbrc and the state administration of foreign exchange 
jointly promulgated the interim administrative measures for commercial banks to provide overseas financial management 
services, and bank of china became one of the first banks approved to engage in overseas financial management services and 
obtained the biggest quota. leveraging on its treasury business, the bank gradually promoted the innovation of treasury products and 
attracted high-end customers by developing and offering customized products and services. in the first half of 2006, the bank made 
great efforts to exploit treasury products and services in the face of fierce market competition. apart from rmb interest rate swap 
and long-term forward exchange settlement and sales services, it also launched rmb structured wealth management products, 
including “game” retail wealth management products, and “olympics” wealth management series products. to meet the wealth 
management needs of corporate customers, the bank also launched such products as “four-season forward” and “credit garden”. 
its huijubao personal foreign exchange wealth management series products have been named for the second consecutive year as 
“best wealth management brand in china” by a domestic professional financial and economic website: www.hexun.com. 
gold bullion trading is one of the major treasury businesses of the bank. as at 30 june 2006, the bank held a 37% market share and 
ranked first on shanghai gold exchange, the sole gold exchange in china. 
operations of boc hong kong 
bank of china (hong kong) limited (“boc hong kong”) is a subsidiary in hong kong with 65.87% stake held by the bank. boc 
hong kong is one of the major commercial banks and also one of the three note-issuing banks in hong kong. as at the end of june 
2006, it had 302 branches, of which 287 operate in hong kong, 14 in mainland and 1 overseas; and 454 atms. boc hong kong 
provides retail customers and corporate customers with a full range of financial products and services through its wide service 
network. in the first half of 2006, boc hong kong acquired 51% stake in boc group life assurance limited, thus further 
expanded its service scope and income sources. in the first half of 2006, boc hong kong realized net profit of rmb4.57 billion 
equivalent (excluding minority interests), a year-on-year increase of 14.5%. 
during the period, braced by the strong external economies and robust chinese economy, the hong kong economy continued to 
register rapid growth. more employment opportunities were created, citizens’ income was increased, and investment market became 
more active. the favorable economic environment has seen boc hong kong’s profit increased steadily with net interest margin 
expanded and non-interest income grew markedly compared with the same period of last year. its investment agency business 
achieved remarkable results, and income-cost ratio remained at a low level in the market. 
boc hong kong improved the structure of its deposit-taking business while maintaining its edges. as at the end of june 2006, the 
balance of deposits from customers amounted to hkd 650,994 million, an increase of 1.9% over the end of last year. rise in interest 
rate, among other factors, suppressed demand for housing mortgage loans and market competition intensified, which led to a slight 
decrease of 0.2% in boc hong kong’s loan balance. in face of the adverse environment, boc hong kong devoted great efforts to 
optimize credit portfolio and improve process management, and achieved a steady growth of loans to small and medium enterprises. 
the bank also held the lead in the syndicated loan market, ranking second in the hong kong and macau syndicated loan market and 
third in the hong kong and china syndicated loan market. 
in the first half of 2006, boc hong kong continued to lead in hong kong’s rmb business market, achieving good performance in 
all fields. rmb deposits rose slightly by 0.1%; its rmb credit card business takes a dominant market share, with total business 
volume rising 60.3%. as at the end of june, boc hong kong has total 236 atms which offer rmb cash withdrawal services. in 
35 
march 2006, boc hong kong formally launched rmb clearing system, providing a superior clearing platform and a strong 
foundation for the further development of rmb business in hong kong. the launch of rmb-denominated personal checking 
services has offered customers a new consumption option with more flexibility and convenience. leveraging the synergy with the 
parent bank, boc hong kong remains driven in developing high-quality products and services with the aim of generating 
sustainable superior return on capital and maximum value for shareholders. 
investment banking 
boc international holdings limited (“boci”) is a wholly owned subsidiary registered in hong kong, and has 30 affiliates and 
subsidiaries around the world. it is a full-service investment bank with a full-fledged investment banking team and an independent 
international placement network. 
in the first half of 2006, boci realized total profit of rmb 1.11 billion, an increase of 446% year on year. during the period, it 
participated in six ipo projects in the capacity of exclusive/joint lead underwriter, and held a 28.5% share of the stock underwriting 
market in hong kong in terms of funds raised. it topped the list of ipo underwriters in terms of total funds raised and number of ipo 
projects. boci provides a wide range of asset management services through boci prudential asset management ltd (“boci 
prudential”). at the end of june 2006, total assets under management by boci prudential reached hkd26.85 billion, an increase of 
hkd1.5 billion or 5.9% from the prior year-end. in terms of mandatory provident fund business in hong kong, boci prudential 
has a registered mpf membership of 0.46 million, and total assets under management exceeded hkd14 billion, accounting for 
approximately 8% of the market. 
boci (china) limited (“boci china”), incorporated in march 2002, was the first sino-foreign joint venture securities company 
with comprehensive a-share brokerage license. as at 30 june 2006, boci china ranked first among all chinese securities companies 
in terms of total underwriting amounts. it also participated in underwriting the 15th issue of financial bonds of china development 
bank, and ranked first among all the underwriters in terms of the underwriting amount. in the same period, it claimed second place 
among chinese securities companies in terms of volume of bond delivery. 
insurance business 
the bank offers insurance services including life insurance and non-life insurance. non-life insurance business is wholly owned and 
operated by the bank, and life insurance business is owned and operated jointly with the bank’s subsidiary boc hong kong. 
bank of china group insurance company, ltd (“bocg insurance”) and boc group life assurance company, ltd. (“bocg life”) 
are responsible for specific operation of the group’s insurance business. 
in the first half of 2006, the insurance business of the group achieved gross premium income of hkd648 million, translating into 
rmb388 million in total profit, increased by 189% year on year. main resources of insurance businesses include agency banking 
business and broker business. 
sources of gross premium income unit: hkd million 
at 30 june 2006 at 31 december 2005 at 30 june 2005 
gross premium income by banking 
agency service 
293 514 283 
gross premium income by broker 
agency service 
355 752 402 
total 648 1,266 685 
in 2006, bocg insurance penetrated into more specialized liability insurance market, including director liability insurance and 
professional liability insurance. at the same time, following the “user-pay” principle advocated by the government in the medical 
system reforms, the bank launched a series of tailored medical insurance programs. to expand overseas business, bocg insurance 
36 
acquired a 32% stake in luen fung hang insurance co., ltd in the first half of 2006. in a move to penetrate into the life insurance 
market of macau and further consolidate the interaction of commercial banking, investment banking and insurance business, bocg 
insurance transferred a 51% stake in bocg life to boc hong kong, which opened a new chapter for the development of life 
insurance business of bocg life. 
information technology 
the bank realizes that it construction is crucial to its future development. in the first half of 2006, the bank continued to direct it 
efforts with supporting business development and ensuring secure operation. progress was achieved for significant it projects 
including construction of the management information system, new online banking platform, and centralized international settlement 
and trade finance system. meanwhile, the infrastructure construction of a new information center and a disaster recovery center has 
been initiated. the bank is also systematically implementing the it blueprint; fundamental tasks including system training, gap 
analysis and stress testing have been launched. effective implementation of it blueprint is critical to the bank’s reform, 
development and innovation. it will help the bank realize centralized processing of operational information of its branches to 
intensify internal control, risk prevention and timely supervision by the internal audit, and formulate a customer-centered 
management model based on business lines, thereby creating a powerful it platform for sharpening the bank’s competitive edge. 
risk management 
risk management is an important part of the bank’s management framework, which is the precondition to its robust, sustainable and 
healthy development. in the first half of this year, the bank further enhanced its risk management capability, improved credit asset 
structure, improved credit asset quality to pursue sustainable and healthy development of its credit business. 
the risk management framework of the bank comprises the board of directors and the risk policy committee under the board, the 
internal control committee, the anti-money laundering committee, the asset-liability management committee and assets 
disposal committee under the management, the risk management department, the credit administration department, the asset & 
liability management department and legal and compliance department. the bank uses vertical management model to manage the 
risks of domestic and overseas branches, and adopts window management model for business departments. it also monitors and 
controls the risk management of subsidiaries through participation in their boards of directors or risk committee. 
credit risk 
credit risk is the risk that a customer or counterparty may be unable or unwilling to meet a debt obligation to the bank when required. 
the bank’s credit risks are mainly from loans, trade finance and treasury business. 
the bank’ credit risk management process can be divided into three major stages: 1) credit origination and assessment; 2) credit 
review and approval; and 3) loan granting and post-lending management. 
corporate loans for corporate credit facilities, we continue to adopt the “three-in-one” credit decision-making mechanism. the 
three components of this mechanism are an independent due diligence investigation, an independent risk review, a strict approval 
process by authorized approvers and follow-up evaluation. 
in the first half of 2006, the bank continued its reform efforts in establishing centralized credit review and approval mechanism, 
which is being implemented step by step. it adjusted the credit approval authority and authorization management model for overseas 
operations, and enhanced the risk control over the total credit exposures to customers. to promote the sustainable and healthy 
development of credit business to small enterprises, the bank further clarified customer entry thresholds and launched pilot branches. 
the bank adopts a two-dimensional rating system that relates the customers’ credit rating logically with the classification of credit 
asset. the results of customer credit rating are important basis for credit authorization management, customer entry and exit 
management, credit approval, credit pricing, and classification of credit asset risks. the bank plans to start the testing and subsequent 
adoption of the probability-of-default-based customer credit rating model in the second half year. as at 30 june 2006, the balance of 
domestic loans to a-rating customers accounted for 43.7% of the total, an increase of 1.8% over the end of last year. 
37 
during the first half of 2006, the bank established customer risk evaluation standards for large-amount credits, and formulated 
corresponding management measures to improve the management of credit risks of the bank. according to china’s 
macro-adjustment policies and the development of the real estate market, the bank strengthened risk supervision over industrial risk 
and management of credits to the sector, and achieved steady improvement in the quality of real estate loans. 
five-tier loan classification approach, which was introduced in 1999, is an important part of the bank’s ongoing credit monitoring. in 
the first half year, the bank continued to manage the special mention loans by subdividing them into high, medium and low risks 
categories. the classification results have become more objective, and the balance and proportion of such loans kept decreasing. 
personal loans in the first half of 2006, the bank completed the centralization of approval authority for personal loans to tier-1 
branches other than personal pledged loans and education loans. meanwhile, it strengthened risk supervision of personal loans, 
including overall monitoring by regions and products, and key monitoring and risk reporting of high-risk real estate projects, 
distributors and customers. 
the bank reclaims on the debtors of non-performing loans mainly by means of negotiation, legal proceedings, debt restructuring and 
write-off. the foreclosed assets will be disposed of in an open and transparent manner, generally through auction, invitation for bid 
and submission of tenders and negotiated transfer. 
market risk market risk is the risk of loss to the bank’s on-balance-sheet and off-balance-sheet operations that may result from 
changes in interest rates, exchange rates, stock prices and commodity prices. market risk exists in both trading and non-trading 
business. the bank manages market risk by setting up risk limits, which are determined by reference to different risk factors, such 
as interest rates, exchange rates, commodity and stock prices, etc. a variety of risk measurement techniques, such as sensitivity limits, 
were used in formulation of specific management measures. 
var (value at risk) is a kind of statistic methodology which is applied in evaluating the potential losses of risk positions caused by 
fluctuation of interest rates, exchange rates, commodity and stock prices at designated confidence level during a specific period. the 
table below shows the result of var analysis for the foreign currency trading portfolios of the bank’s domestic business (exclusive 
of comparative large-amount investment accounts or bank accounts of the bank) as of 30 june 2006. 
unit: usd million 
at 30 june 2006 at 31 december 2005 
at the 
period-end 
average high low period-end average high low 
interest rate risk 4.88 8.10 16.25 0.82 4.77 3.27 11.94 0.20 
exchange rate risk 2.64 3.67 14.12 0.78 0.39 2.7 18.69 0.34 
fluctuation risk 0.19 0.68 4.63 0.16 0.36 0.8 2.54 0.04 
total market risk 5.84 8.10 19.15 1.84 15.6 5.1 18.86 0.69 
interest rate risk management interest rate risk is the risk of loss to interest income or the value of assets due to the volatility of 
interest rates. we manage the interest rate risk of the banking book primarily through gap analysis, and use the gap analysis data to 
perform stress-testing, on the basis of which we adjust the re-priced period structure of our assets and liability. meanwhile, we 
closely follow the trend of local and foreign currency interest rates, and adjust the interest rates of local and foreign currency deposits 
and loans in a timely manner to avoid interest rate risk. 
in respect of treasury products, the bank adopts such indicators as var, duration and price value of a basis point (pvbp) to 
measure interest rate risk, and utilizes stress-testing and scenario analysis to monitor risks. the bank has also set up a series of risk 
limits, which are closely monitored and managed. the bank has established a globalized treasury product internal control platform 
with an advanced market risk management infrastructure to effectively monitor the market risk of treasury products offered by its 
38 
main branches. 
exchange rate risk management 
the bank’s management of exchange rate risks covers trading accounts and non-trading accounts. non-trading exchange rate risk 
mainly arises from the currency mismatches in assets and liabilities, foreign exchange capital, investments in overseas subsidiaries, 
and foreign currency profit or loss. the bank seeks to reduce the exchange rate risk arising from currency mismatches in assets and 
liabilities by matching the sources and use of our funds on a currency-by-currency basis. in addition, we also manage and control 
exchange risk through settlement or hedging transactions. 
however, the group's ability to manage its foreign currency positions in relation to the rmb is limited as rmb is not a freely 
convertible currency. according to the current applicable foreign currency policies of the prc government, the conversion of foreign 
currency is subject to application and approval by the relevant prc government authorities. the bank has taken following measures 
to reduce its foreign exchange exposure: 
in 2005, the bank entered into a foreign currency option agreement with central safe investments limited having a notional 
amount of usd18 billion to economically hedge a portion of its net on-balance sheet foreign currency position. 
during the six month period ended 30 june 2006, the bank executed certain foreign exchange transactions to reduce its net foreign 
currency position by usd3.3 billion. 
subsequent to the balance sheet date in august 2006, the bank further effected certain foreign exchange transactions, further 
reducing its net foreign currency position by usd14.2 billion. 
the risk of trading accounts mainly comes from the foreign exchange transactions the bank is engaged in. the bank took a variety of 
measures according to its risk tolerance and operating capability to effectively reduce the possible losses caused by uncertain market 
factors, including total exposure control, structural management, quota management, and valuation techniques. 
liquidity risk 
liquidity risk refers to the risk of funding availability at an appropriate cost when required to meet. 
the objective of the bank’s liquidity management is to ensure that the bank have adequate liquidity at all times to satisfy payment of 
deposits and other debts due and the development of asset-based business; and is able to raise enough funds at reasonable prices 
within a certain period in the case of business opportunities or emergencies. 
the bank’s liquidity risk is managed on a consolidated basis at the head office. liquidity management policy and measures are 
applied across the bank from top to down. liquidity management mainly includes two scenarios, namely normal business 
environment and emergent or extreme conditions. under normal environment, the bank regularly updates management policies and 
guidelines, liquidity indicator management, liquidity gap management, position management, management of fund flow between the 
head office and branches, management of liquidity portfolios and financing guidelines, with the view to ensuring the normal 
operation of the bank’s asset and liability business and to adjusting the liquidity of the bank to a proper level. in addition, the bank 
also monitors warning indicators, set up emergency programs and conduct financing capability testing to discover and prevent risk in 
a timely manner. 
in the first half of 2006, the group’s asset and liability business registered healthy and steady development and liquidity was 
managed effectively. as at 30 june 2006, all indicators relating the bank’s liquidity status have met the regulatory requirements as 
table below: 
30 june 2006 local currency foreign currencies 
liquidity ratio 32.03% 45.88% 
loan-deposit ratio of domestic 
56.47% 71.95% 
39 
operations 
excess reserve ratio★ 2.58% 17.07% 
★ deposit reserve refers to the deposits with the central bank for the purpose of guaranteeing the withdrawal of deposits and fund 
clearing of customers, and deposit reserve ratio is the proportion of deposit reserve required by the central bank in total balance of 
deposits. 
deposit reserve and deposit reserve ratio are composed of two parts. the deposit reserve ratio stipulated by the central bank is 
called statutory deposit reserve ratio, which stands at 7.5% at present, i.e. commercial banks must deposit 7.5% of deposits received 
with the central bank; the corresponding deposits is called statutory deposit reserve. the reserve beyond statutory deposit reserve is 
called excess reserve, and the proportion of excess reserve in total deposits is the excess reserve ratio. 
the above liquidity ratio is calculated in accordance with the relevant provisions of the people’s bank of china and cbrc， and the 
financial data are based on the accounting standard for business enterprises and financial enterprise accounting system. 
internal control and operational risk 
internal control the bank is committed to continuously improve its internal control system by establishing three defense lines 
composed of function management, compliance control and internal audit. by clarifying the responsibilities of all business units, the 
bank seeks to ensure effective risk prevention and optimum resource allocation from the management framework perspective. 
the principal objective of developing internal control function is to establish a compliance culture and construct a comprehensive, 
dynamic, proactive and verifiable internal control environment, which is based on a sound internal control infrastructure and rules 
and regulations, supported by advanced information technology, guided by an effective incentive and accountability system, provides 
checks and balance, and emphasizes refined process control. 
as required by the guidelines on internal control of commercial banks promulgated by the people’s bank of china, the bank 
continuously reinforced internal control measures and improved internal control mechanism and environment in different business 
and management lines, including corporate banking, treasury services, personal financial business, e-banking, bank card, and human 
resources. meanwhile, it also established key indicator monitoring system for internal control, to conduct key monitoring and 
periodic reporting of key internal control indicators, including rotation, function in an acting capacity, and business errors. 
operational risk operational risk means the risk of losses caused by substandard or problematic internal procedures, personnel or 
system or by external events. in the first half of 2006, the bank cooperated with rbs in respect of the operational risk management 
framework. the two parties carried out a preliminary study of operational risk management framework in line with the bank’s 
conditions. work processes were developed covering operational risk and control review, key risk indicators, reporting of significant 
events, etc. pilot project relating operational risk and control assessment and key risk indicators was also activated. 
internal audit 
in order to fully realize the function of internal audit in our corporate governance structure, in the first half of 2006, the bank 
appointed an independent external consulting agency to conduct an overall evaluation of its internal controls by referring to 
international internal audit industry best practices. based on the evaluation results and regulatory requirements, the bank started 
improving the organizational structure of internal audits, management techniques, reporting lines and practical standards, and 
devoted great efforts to build a new vertical, independent and effective internal audit system steered by the board of directors and 
the audit committee. in the mean time, the bank continuously improved the depth of its audits, focused on improvement in high-risk 
and weak areas and significantly enhanced the effectiveness of internal controls. under the internal audit plan which mainly 
comprises regular audits while supplemented by special audits and individual case investigations, all levels of internal audit 
departments, at home and abroad, had deepened the audits while giving consideration to its coverage. in the first half of 2006, the 
bank conducted regular internal audits on 6 overseas institutions, 9 tier-1 branches, 115 tier-2 branches, 689 urban sub-branches and 
957 county-level sub-branches, and meanwhile completed 1,172 special internal audits (including 850 economic responsibility 
40 
audits), and 31 case investigations. 
capital management 
the objective of the bank’s capital management is to effectively plan various types of capital to ensure that its capital is in line with 
the requirements of external regulations, credit rating, risk compensation and shareholder’s return. it also endeavors to optimize 
financial ratios, improve the equity value and maximize shareholder’s value on a risk-controlled basis by making full use of capital 
instruments and management measures. during the report period, the bank's capital level is in line with all statutory requirements. 
outlook 
in the second half of the year, we expect the chinese economy will maintain its rapid growth momentum, thus providing a 
favorable macro environment for the operation of the bank. presented with new circumstances and new missions, the bank will 
further study its strategy and strive to maintain stable and rapid growth for its various businesses, so as to ensure that the targets 
set at the beginning of the year can be fulfilled. in addition, the bank will also continue its reforms, bearing in mind the 
requirements of the capital market. with respect to business development, the bank will focus on developing its intermediary 
business, speed up development of its personal banking business, and further optimize its business structure and income mix. 
the bank will also steadily develop its asset business with quality customers, control the speed of business development, 
proactively manage its liabilities, lower fund costs and improve service quality. in terms of risk management, the bank will 
strengthen comprehensive risk management, refine its internal control systems, and establish three lines of defense comprising 
functional management, compliance control and internal audit. the bank also plans to take its organizational reforms and 
process integration to further depth, and also accelerate the implementation of the it blueprint. the reforms in hr 
management will continue, and more efforts will be devoted to improving management capability and staff quality. 

41 
corporate information 
registered name in chinese: 中国银行股份有限公司 (“中国银行”) 
registered name in english: bank of china limited (“bank of china”, hereafter “the bank”) 
legal representative: xiao gang 
secretary to the board: yeung jason chi wai 
certified accountant: leung kim lan francis 
authorized representatives: li lihui 
yeung jason chi wai 
compliance advisers: goldman sachs (asia) l.l.c. 
ubs ag acting through its business group ubs investment bank 
address: no.1 fuxingmen nei da jie, beijing, prc china 
telephone: 010-66596688 
fax: 010-66016871 
e-mail: bocir@bank-of-china.com 
registered office: no.1 fuxingmen nei da jie, beijing, prc china 
office address: no.1 fuxingmen nei da jie, beijing, prc china 
post code: 100818 
place of business in hong kong: 8th floor, bank of china tower, 1 garden road, central, hong kong 
credit ratings (long term) 
standard & poor’s: bbb+ rating and investment information, inc.: amoody’s 
invester service : a2 dagong global credit rating co., ltd.: aaa 
fitch ratings: awebsite: 
http://www.boc.cn 
selected newspapers for disclosure: china securities, shanghai securities, securities times, china daily 
hong kong newspaper: south china morning post and hong kong economic journal 
website designated by csrc to publish the interim report: http://www.sse.com.cn 
website designated by the stock exchange of hong kong limited to publish the interim report: http://www.hkex.com.hk 
places where the interim report can be obtained: major business locations 
index constituent 
the bank is a constituent of the following indices: 
msci china index 
shanghai stock exchange index series 
ftse/xinhua china 25 index 
ftse/xinhua hong kong index 
hang seng china enterprise index (effective from 11 september 2006) 
stock codes 
h shares: 
42 
the stock exchange of hong kong limited 3988 
reuters 3988.hk 
bloomberg 3988 hk 
a shares: 
the shanghai stock exchange 601988 
reuters 601988.ss 
bloomberg 601988 ch 
share registrar 
h shares: computershare hong kong investor services limited 
hopewell centre, 46th floor, 183 queen's road east, wan chai, hong kong 
a shares: china securities depository and clearing corporation limited, 
shanghai branch 
f/36, china insurance building, 166 lujiazui east r.d., pudong district, shanghai 
other relevant information 
date of first registration: 31 october 1983 
modified registration date: 26 august 2004 
authority of first registration: state administration of industry and commerce of prc 
corporate business license serial number: 1000001000134 
financial license institution serial number: b10311000h0001 
tax registration certificate number: jgsxz 110102100001342 
dsjz 110102100001342000 
appointed domestic auditor: pricewaterhousecoopers zhong tian certified public accountants limited company 
address of appointed auditor: floor 11, pwc center, no.202 hubin road, shanghai 
post code: 200021 
appointed international auditor: pricewaterhousecoopers hong kong 
address of appointed auditor: 22/f, prince’s building center, hong kong 
business scope: rmb deposit-taking; disbursement of short, medium and long-term loans, settlement; discount of bills; issuance of 
financial bonds; issuance and redemption as an agency, and underwriting of government bonds; trading of government bonds; 
inter-bank lending; provision of credit card services and guarantee; collection and payment and insurance agency services; safe box 
services; foreign exchange deposits, loans and remittance; foreign currency exchange; international settlement; inter-bank foreign 
exchange lending; acceptance and discount of foreign exchange bills; foreign exchange loans, guarantee, settlement and sales; 
issuance and agency of foreign currency marketable securities other than stock for its own accounts or for customers’ accounts; 
proprietary foreign exchange trading; foreign exchange trading for customers; issuance of foreign exchange credit cards and foreign 
credit card issuance and payment as an agency; credit standing investigation, consultation and witness; organizing of or participation 
in syndicated loans; trading of international precious metal; all banking services engaged by overseas operations as approved by local 
laws; issuance of local currencies through branches in hong kong and macau according to local laws and decrees or acting as an 
43 
agency; other services as approved by cbrc and other regulatory authorities. 
this report is prepared in both chinese and english. should there be any inconsistency between the chinese and english 
versions, the chinese version shall prevail. 
44 
directors, supervisors, senior management and staff 
director, supervisors and senior management 
honorary directors(1) 
name position 
chen muhua honorary chairperson 
chuang shih ping honorary vice chairman 
board of directors 
name position 
xiao gang chairman 
li lihui vice chairman and president 
zhang jinghua non-executive director 
yu erniu non-executive director 
zhu yan non-executive director 
zhang xinze non-executive director 
hong zhihua non-executive director 
huang haibo non-executive director 
sir frederick anderson 
goodwin non-executive director 
seah lim huat peter non-executive director 
hua qingshan executive director; vice president 
li zaohang executive director; vice president 
anthony francis neoh independent non-executive director 
william 
peter cooke independent non-executive director 
patrick de 
saint-aignan independent non-executive director 
alberto togni independent non-executive director 
notes: 
(1) under prc law, the honorary directors are not members of the board of directors and do not have any power or right to 
vote on any matters considered by our board under our articles of association. 
board of supervisors 
name position 
liu ziqiang chairman of board of supervisors 
wang xueqiang supervisor 
liu wangming supervisor 
li chunyu employee supervisor 
liu dun employee supervisor 
senior management 
name position 
li lihui president 
hua qingshan executive director; vice president 
li zaohang executive director; vice president 
zhou zaiqun vice president 
zhang yanling vice president 
zhang lin secretary of the party discipline committee 
45 
zhu min assistant president 
zhu xinqiang assistant president 
wang yongli assistant president 
lonnie dounn* chief credit officer 
(*tendered his resignation in april 2006, effective in september 2006.) 
yeung jason chi wai secretary to the board of directors 
human resources and management 
number of institutions and employees as of the end of june 2006, the bank had 11,543 domestic and overseas branches and 
subsidiaries, a reduction of 103 from the beginning of the year. domestic branches and subsidiaries numbered 10,907, a reduction of 
111 from the beginning of the year, and overseas branches and subsidiaries numbered 635, an increase of eight from the beginning of 
the year. 
as of the end of june 2006, the bank had 197,636 regular employees, a decrease of 11,629 from the beginning of the year. 
employees of domestic operations numbered 179,453, a decrease of 11,375; and employees of overseas operations totaled 18,183, a 
decrease of 254 from the beginning of the year. besides, the bank had 28,769 dispatched staff in its domestic operations. 
management of human resources in the first half of 2006, the bank continued to reform its human resources management system. 
intensified efforts were made to adjust and staff the management team of its branches, subsidiaries and departments of the head 
office. the bank launched leadership development model, and consolidated the supporting resources. through in-depth position 
appointment reform, the bank gradually formed a merit-based recruitment system through fair competition. it also controlled the 
headcount, and optimized staff structure constantly. leveraging diverse channels, including campus recruitment and social 
recruitment, it filled up post vacancy to satisfy the needs of business development and management. it also improved an all-round 
remuneration system, guided domestic branches to design remuneration reform plans and calculate remuneration level, promoted the 
implementation of remuneration reform, started the establishment of the corporate annuity system, and preliminarily set up a 
long-term and standardized supplementary retirement insurance mechanism. it also enhanced performance management, set the 
performance indicators for branches by virtue of balanced score card, reinforced process management, and guided each branch to 
implement the scientific approach to development. 
training and development of human resources the bank devoted great efforts to the training of management personnel at high 
and middle ranks. it developed senior leadership course in cooperation with peking university and business school of harvard 
university, and sent senior executives to participate in a senior management course provided by the rbs. 
to support and boost business development, training was also provided to professionals in the fields of wealth management planning, 
financial service marketing, operational risk, trading and settlement, etc. the bank also strengthened training for frontline and new 
employees. in the first half, the bank organized 2,441 off-work training courses each over two days, training 95,577 persons. 
process integration and organizational restructuring the bank continued to promote the business process integration and 
organizational restructuring. it conducted an overall investigation on the organizational framework, business process and operational 
mechanism of rbs, in an effort to explore and study the direction of its own organizational framework reform in line with its own 
conditions. by studying the setting up of strategic business units along the lines of corporate banking, personal banking and treasury 
business and adjusting the functions of the branch outlets, the bank will try to strengthen the management of business lines so as to 
gradually establish a matrix management model commonly adopted by international financial institutions. as of the end of june 2006, 
organizational resources of the bank continued to be allocated in favour of key regions to optimize the geographical layout. the 
bank newly established 25 institutions/outlets, upgraded 216 institutions, and closed 192 small institutions/outlets of poor 
development potential. 

46 
corporate culture 
the bank intends to build a strong corporate culture with work ethics that encourages honesty and integrity, the drive for 
performance, a people oriented spirit, diligence and accountability and the pursuit of excellence so as to achieve a seamless 
integration of its corporate culture with the operation and management of the bank. by leveraging on the directional guidance, 
incentives and behavioural constraints accompanying the building of the corporate culture, we aim to align the strategic development 
goal of the bank with the career aspirations of our employees. 
corporate governance 
during the report period, the bank has been in strict compliance with the company law and the law for commercial banks as well 
as other applicable laws of china. we continued to improve the organizational framework and management processes relevant to 
good corporate governance and optimized the functions and responsibilities among the board of directors, board of supervisors and 
senior management, all in accordance with the rules and regulations enacted by the regulatory authorities but taking into account our 
current conditions. all organizations relevant to our corporate governance operated independently according to the law and 
performed their respective rights and obligations in accordance with their responsibilities set forth in the articles of association. 
general meeting of shareholders 
the bank convened and held the general meeting of shareholders according to the related laws and regulations and the articles of 
association of the bank to ensure that all the shareholders have an equal right to know, participate and vote. during the first half of 
2006, the bank held the annual general meeting of shareholders and four interim meetings and reviewed work reports of the board 
of directors and board of supervisors, proposal on business plan and financial budget, and profit distribution plan etc. the 
shareholders’ general meeting has played a crucial role in promoting the development of the bank and protecting the interest of the 
investors and other stakeholders. 
directors and the board of directors 
in the first half of 2006, one independent non-executive director and one non-executive director were appointed to the board of 
the bank. as of june 30, 2006, the board consisted of 16 members, including the chairman, four independent non-executive 
directors, eight non-executive directors and three executive directors. within the report period, the bank held five board meetings， 
adopted resolution through voting by correspondence, and reviewed its development strategies, business plans, profit distribution 
plans, the board’s self-evaluation plans, 2005 annual report, objectives of performance management and bonus distribution plan for 
senior management, ipo issuance plan, the alteration of articles of association and other proposals. all directors diligently performed 
their responsibilities, guaranteed the practicability of the board’s decisions, and maintained the interests of the bank and all its 
shareholders. 
the board of directors has set up five special committees, namely strategic development committee, audit committee, risk policy 
committee, personnel and remuneration committee and connected transaction control committee. the five committees directly 
report to the board. the work performance of each committee in the first half of 2006 is as follows: 

47 
committees work performance 
strategic development committee 
the committee held four meetings and mainly reviewed proposals such as the 
development strategies, business development plan for 2006-2008, and business 
plan and financial budget for 2006 of the bank. 
audit committee 
the committee held four meetings and mainly reviewed proposals such as the 
financial management measures of bank of china limited, improvement of internal 
control, business plan and expense budget for 2006, the appointment, audit plan and 
audit fees of external auditors, profit forecast for 2006, financial report for year 
2005 prepared in accordance with prc gaap and ifrs, and relevant auditors’ 
report. 
risk policy committee 
the committee held two meetings and mainly reviewed proposals such as key risk 
management work and plan for 2006, report on the management key risk indicators, 
and progress on the establishment of market risk management. 
personnel and remuneration committee 
the committee held two meetings and mainly reviewed proposals such as the 
evaluation guide and self-evaluation plan of the board of directors, membership 
changes to special committees under the board of directors, and the measures on 
performance management of senior management of the bank. 
connected transaction control committee 
the committee held two meetings and mainly reviewed such proposals as the 
management measures on connected transactions of the bank, and plan on division 
of responsibilities for connected transaction control, and the rules of procedures of 
the connected transaction control committee of the board of directors of boc. 
supervisors and the board of supervisors 
the board of supervisors of the bank is composed of five members, including the chairman of board of supervisors, two full-time 
supervisors and two staff supervisors. the size and the composition of the board of supervisors comply with the supervisory 
requirements and the articles of association. the board of supervisors examines and supervises the operation and the financial 
activities of the bank by holding meetings regularly, reading and checking various documents, debriefing the work report and reports 
on certain issues from the management. 
senior management 
the senior management is the executive body of the bank. headed by the president, the senior management is composed of the 
vice presidents and assistant presidents, who assist the president in managing the bank’s business activities. the senior 
management of the bank is assessed and supervised by the board of directors. in the first half of 2006, the objectives for 
performance management and scheme for bonus allocation of the senior management was deliberated and approved by the board 
of directors of the bank. in order to incentivize and motivate the senior management, the bank set up scientific assessment and 
evaluation standards; established the assessment mechanism in which the compensation of senior management personnel is linked to 
his performance, responsibilities and risks while adhering to the principle of balancing incentives and constraints. 
investor relations and information disclosure 
the bank strictly complies with relevant requirements strictly, and discloses all material information promptly, accurately, faithfully 
and completely to ensure all shareholders are treated equally. 
the bank is committed to promoting investor relations in the capital market, and places investor relations management as top priority. 
during the report period, the bank faithfully, accurately, promptly and sufficiently fulfilled its responsibilities of information 
disclosure and promoted the interests of its investors through meetings with institutional investors, press and analysts, and by 
adopting multiple communication channels such as launching an ir page on its website, arranging one-on-one meetings and various 
48 
communication tools such as mail, phone and fax. 
49 
significant events 
i profit distribution during the report period 
profit distribution in 2005 the 2005 profit distribution plan of the bank was adopted at the 2005 annual general meeting of 
shareholders, i.e., to distribute a profit of rmb 1.375 billion to the registered shareholders of the bank as of 31 december 2005. the 
plan has been implemented. 
according to the resolutions of the board meeting held on 29 august of 2006, the bank transferred 10% of the net profit from 
january to june 2006 to the statutory surplus reserve, set aside rmb4, 291 million as general reserve fund. the bank does not 
declare any dividend for the first half of 2006. 
ii listing of h-share and a-share 
the h-share of the bank was listed on the stock exchange of hong kong limited (the hong kong stock exchange) on 1 june 
2006. 25,568,590,000 h-shares were issued on the initial public offering. following the exercise of the over-allotment option on 9 
june, a further 3,835,288,000 h-shares were issued. the issuance of h-share accounted for 11.9% of the total enlarged share capital 
at an issue price of hk$2.95 per share. with the issuance of the shares, us$11.2 billion was raised. the h-share ipo was the fourth 
largest ipo around the world to date, the largest for the financial sector, the largest in asia excluding japan, and the largest global 
offering by a chinese company. 
the bank issued its a-share in the domestic market from 19 to 23 june. these shares were issued at an issue price of rmb 3.08 per 
share and commenced trading on the shanghai stock exchange on 5 july 2006. as the largest domestic listing of a-share on the 
domestic market so far, 6,493,506,000 a-share were offered, representing 2.56% of the fully diluted share capital. a total of rmb 
19,999,998,480 was raised, and our ipo is the largest a share offering to date. 
the ipos of h-share and a-share account for 14.14% of the total enlarged share capital of the bank. after the ipos, the share capital 
of the bank increased to rmb 253,839,162,009 or 253,839,162,009 shares. the two ipos and successful listing marked a milestone 
in the stock reform of the bank. since 19 july 2006, the bank (a share code: 601988) has been included in sse 180 index and sse 
50 index 
iii changes in share capital and shareholdings of major shareholders 

50 
1. changes in share capital: 
1 jan, 2006 30 june 2006 
number of shares 
allotment 
of shares 
bonus 
shares 
shares 
transferred 
from the 
surplus 
reserve 
increase of share 
capital 
others subtotal number of shares 
i. unlisted shares 
i. shares held by the 
state (promoter’s 
shares) 
174,128,718,217 -2,803,313,477 -2,803,313,477 171,325,404,740 
ii. shares held by the 
state 
8,514,415,652 -8,514,415,652 -8,514,415,652 
iii. shares held by 
domestic legal person 
iv. shares held by 
foreign legal person 
35,298,644,140 -35,298,644,140 -35,298,644,140 
v. shares of legal 
person promoters 
vi. shares held by 
staff 
vii. preferred shares 
or other shares 
6,493,506,000 6,493,506,000 6,493,506,000 
subtotal 209,427,362,357 177,818,910,740 
ii. listed shares 
i. rmb-denominated 
ordinary shares 
ii. domestically listed 
foreign shares 
iii. overseas listed 
foreign shares 
29,403,878,000 46,616,373,269 76,020,251,269 76,020,251,269 
iv. others 
subtotal 0 76,020,251,269 
iii. total 209,427,362,357 253,839,162,009 
51 
1. the number of shares in the column of “preferred shares or other shares” is the amount of the a share offered by the bank to the 
public from 12 to 29 june, 2006, which were registered with the shanghai branch of china securities depository and clearing 
corporation on 29 june 2006, and commenced trading on the shanghai stock exchange on 5 july 2006. 
2. the bank invited the national council for social security fund (ssf) as a strategic investor on 13 march 2006, to which 
8,514,415,652 ordinary shares were offered. 25,568,590,000 ipo h-shares were issued in may 2006. 35,298,644,140 non-listed 
foreign funded shares previously held by boc’s foreign strategic investors, 8,514,415,652 ordinary shares by the ssf, and 
2,803,313,477 ordinary shares transferred by central safe investments limited, sponsor of boc, to ssf, as required by the state, 
were converted to h shares, and listed at the hong kong stock exchange on 1 june along with the h shares already offered to the 
public. the h share over allotment option was exercised in full, involving 3,835,288,000 h shares on 9 june 2006. in june 2006, 6, 
493, 506, 000 a shares were offered to the public. on 29 june, 2006, the a shares offered to the public by boc and 171,325,404,740 
ordinary shares held by central safe investments limited, sponsor of the bank, were registered as a-shares. the a-shares of the 
bank were listed on the shanghai stock exchange on 5 july 2006. as of 5 july 2006, the bank has issued 177,818,910,740 a shares 
and 76,020,251,269 h shares, representing 253,839,162,009 ordinary shares in aggregate. 
2. number of shareholders and shareholdings 
total number of shareholders: as of the end of the reporting period, the bank’s shareholders (a-share+ h-share) numbered 
1,060,828, including 457,146 holders of h-share and 603,682 holders of a-share. (the number of shares held by h share 
shareholders are those recorded in the register of members as kept by the h share register of the bank) 

52 
top ten shareholders 
proportion in total 
share capital 
no. name of shareholder type of 
shareholder 
type of share shareholding at the end 
of report period (as of 
30 june 2006) (%) 
shares 
pledged or 
frozen 
shares 
1 central safe 
investments limited 
state owned a share 171,325,404,740 67. 49% 
2 hkscc nominees 
limited 
foreign h share 30,341,965,800 11.95% 
3 rbs china investments 
s.à.r.l. 
foreign h share 20,942,736,236 8.25% 
4 asia financial holdings 
pte ltd 
foreign h share 10,471,368,118 4.13% 
5 national council for 
social security fund, 
prc 
state owned h share 8,377,341,329 3.30% 
6 ubs ag foreign h share 3,377,860,684 1.33% 
7 asia development 
bank 
foreign h share 506,679,102 0.20% 
8 the bank of 
tokyo-mitsubishi ufj 
ltd 
foreign h share 473,052,000 0.19% 
9 wingreat international 
limited 
foreign h share 420,490,000 0.17% 
10 best sense investments 
limited 
foreign h share 236,526,000 0.09% 
10 turbo top limited foreign h share 236,526,000 0.09% 
the bank is not aware whether the shares of the above shareholders have been pledged or frozen, or the connected relationships 
among the above shareholders. 

53 
top ten shareholders whose shares are not subject to selling restrictions (as at 5 july 2006, being the date of listing of 
a-share, the shares held by hkscc nominees limited is as at 30 june 2006) 
no. name of shareholder listed trading shares type of share 
1 hkscc nominees limited 30,341,965,800 h share 
2 icbc- gf strategic selection balanced securities 
investment fund 
70,669,000 a share 
3 shanghai huiyin investment limited corporation 70,000,000 a share 
4 icbc- e fund value selection stock securities 
investment fund 
50,397,000 a share 
5 china life insurance (group) company – 
traditional-general insurance 
38,765,000 a share 
6 china life insurance company limited- dividend- 
personal divident-005l-fh002 sh 
29,076,000 a share 
7 china life insurance company limited- 
dividend-group divident-005l-fh001 sh 
23,982,000 a share 
8 china pacific life insurance co., 
ltd-dividend-personal dividend 
23,357,300 a share 
9 china life insurance company 
limited-traditional-general insurance-005l-ct001 
sh 
23,260,000 a share 
10 bank of communications- hua an innovation 23,101,000 a share 
explanation of the connected relations and the concerted action 
among the above shareholders 
except that some of the above shareholders may be under the 
management of the same corporation, the bank is not aware of 
the connected relations and the concerted action among the 
above shareholders. 

54 
substantial interests in share capital 
the register maintained by the bank pursuant to section 336 of the securities and futures ordinance (the “sfo”) of the laws of hong 
kong recorded that, as at 30 june 2006, the following corporations had the following interests (as defined in the sfo) in the bank set 
opposite their respective names: 
name of shareholders number of shares held 
type of 
shares 
% of total 
issued a 
shares 
% of total 
issued h 
shares 
% of total 
issued share 
capital 
capacity 
central safe investments 
limited 
171,325,404,740 a 96.35% - 67.49% beneficial owner 
the royal bank of 
scotland group plc note 1 
20,944,789,236 h - 27.55% 8.25% attributable 
interests & 
beneficial owner 
rbs ci limited note 1 20,942,736,236 h - 27.54% 8.25% attributable 
interests & 
beneficial owner 
rbs china investments 
s.à.r.l. 
20,942,736,236 h - 27.54% 8.25% beneficial owner 
temasek holdings 
(private) limited note 2 
11,792,559,118 h - 15.51% 4.65% attributable 
interests 
national council for 
social security fund of 
the prc 
11,317,729,129 h - 14.89% 4.46% beneficial owner 
ubs ag 3,892,847,114 
132,154,877 (s)* 
h - 5.12% 
0.17% 
1.53% 
0.05% 
attributable 
interests, beneficial 
owner & person 
having a security 
interest in shares 
* “s” denotes short positions 
notes: 
1. the royal bank of scotland group plc (“rbs group”) holds the entire issued share capital of rbs ci 
limited, which in turn holds 51.61% of rbs china investments s.à.r.l. (“rbs china”). accordingly, rbs 
group and rbs ci limited are deemed to have the same interests in the bank as rbs china for the purpose of 
the sfo. 
2. temasek holdings (private) limited (“temasek”) holds the entire issued share capital of fullerton 
management pte ltd, which in turn holds the entire issued share capital of asia financial holdings pte ltd. 
accordingly, for the purpose of the sfo, temasek and fullerton management pte ltd are deemed to have the 
same interests in the bank as asia financial holdings pte ltd, which has an interest in 11,785,825,118 shares 
of the bank. 
all the interests stated above represented long positions except stated otherwise. save as disclosed above, as at 30 june 2006, no 
other interests or short positions were recorded in the register maintained by the bank under section 336 of the sfo. 
55 
iv significant related party transactions (please refer to article 5 of the condensed consolidated financial statement under 
related party transaction) 
v except as stated below, the bank did not have material merger and acquisition, or sales of assets during the report period. 
followed are highlights of the current report period in purchases & sales of assets and mergers: 
on 1 june, 2006, bocg insurance, a wholly-owned subsidiary of the group, sold a 51% stake of bocg life to boc hong kong 
which the bank holds a stake of 65.87%, at the purchase price of hkd 900 million by reference to the valuation of bocg life as of 
31 december 2005. the group effectively sold a 17.4% stake of bocg life to minorities of boc hong kong, and achieved a gain 
of rmb 138 million. 
bank of china group investment limited, a hong kong subsidiary of the group, sold loans at a book value of rmb 63 million to an 
independent third party in may 2006, giving rise to an income of rmb 723 million, with net income at rmb 660 million. 
vi major contracts and performance 
during the report period and except as disclosed, the bank does not have material assets business with other companies to custody, 
contract or lease their assets, or entrust other companies to custody, contract or lease the bank’s assets. 
the guarantee business is one of our off-balance items in the ordinary course of our business. we carry out guarantee business in a 
prudent manner, and manage risk according to the five-category classification of loans to ensure the asset quality of our guarantee 
business. 
during the report period, no cash assets of the bank were entrusted to others for management. 
vii undertakings 
during the report period, the bank or shareholders holding shares of more than 5% (including 5%) have not made undertakings that 
might have significant adverse impact on the operational results and financial position of the bank. 
viii material litigation and arbitration 
during the report period and except as disclosed herein, there was no material litigation and arbitration that might have significant 
adverse impact on the operation of the bank. 
as of 30 june 2006, the bank has involved in certain litigation and arbitration cases in regular businesses. consulting professional 
legal firms, the management holds that these litigation and arbitration cases will not have significant adverse impacts on the 
operation of the bank. 
ix appointment and dismissal of auditors 
the bank has appointed pricewaterhousecoopers zhong tian certified public accountants limited company and 
pricewaterhousecoopers hong kong as its domestic and international statutory external auditors respectively. 
x punishment and remedial actions required by the bank, board of directors and directors 
during the report period, none of the bank, the board of directors or any director was subject to any investigation and 
administrative punishment from the csrc, or was the subject of a public reprimand from any stock exchange. 
56 
xi explanation on the alteration of business plan 
during the report period and except as publicly disclosed, there has been no material amendment to the bank’s business plan. 
xii warnings and reasons for predicted loss or significant changes in net accumulated profit from the beginning of the 
year to the end of next report period 
the bank does not believe that the net accumulative profit earned from the beginning of the year to the end of the next report period 
would result in a loss, nor would there be significant changes compared with the same period of last year. 
xiii use of ipo proceeds 
fund raising in the current report period is as follow: 
pursuant to the response of cbrc on boc’s absorption of investment and shareholding by ssf (yjf [2006] no. 49), the bank 
issued to ssf 8,514,415,652 ordinary shares on 13 march 2006, par value rmb 1 for each share at a premium. ssf contributed 
rmb 10 billion in cash, with the capital contribution including an equity premium of rmb1, 481 million. 
pursuant to the response of cbrc on boc’s transformation to overseas offering and listing of shares (yjf [2006] no. 53) and 
the response on approving boc’s issuance of foreign capital stock listed abroad (zjghz [2006] no.8), the bank issued at a 
premium to foreign investors 29,403,878,000 foreign capital stocks listed abroad (h share) on 1 june 2006 and 9 june 2006, par 
value of rmb 1 for each share, which were publicly listed on the hong kong stock exchange at an issue price of hk$2.95 per 
share. 
pursuant to the response of cbrc on boc issuing stocks and going public (yjf [2006] no. 135) and the circular on approval of 
boc initial public offering (zjfxz [2006] no.20), the bank issued at a premium to domestic investors 6,493,506,000 ordinary 
shares (a share) on 29 june 2006, par value of rmb 1 for each share, which were publicly listed on the shanghai stock exchange at 
an issue price of rmb3.08 per share. 
funds raised within the report period are mainly used to strengthen the bank’s capital base. 
xiv the audit committee 
the audit committee of the bank is composed of non-executive directors, including two non-executive directors and three 
independent non-executive directors. independent non-executive director patrick de saint-aignan is the chairman; and zhu yan, 
huang haibo, anthony francis neoh and peter cooke are members of the committee. 
the committee assisted the board of directors in supervising the group’s oversight of financial reporting, internal control, internal 
audit and external audit etc. 
the audit committee has reviewed the interim results of the bank .the bank’s external auditors have carried out a review of the 
interim financial statements in accordance with the independent auditing practice pronouncement no.10 – engagements to review 
financial statement but not audited in accordance with chinese independent auditing standards. the audit committee has discussed 
matters such as the accounting standards and the auditing practice, internal control and financial statements adopted in the interim 
report. 
xv directors’ and supervisors’ rights to acquire shares 
on 5 july 2002, the following directors were granted options by boc hong kong (bvi) limited (“boc (bvi)”), the immediate 
holding company of boc hong kong (holdings) limited, pursuant to a pre-listing share option scheme to purchase from boc 
(bvi) existing issued shares of boc hong kong (holdings) limited at a price of hk$8.50 per share. boc hong kong (holdings) 
limited is a subsidiary of the bank which is also listed on the hong kong stock exchange. these options have a vesting period of 
57 
four years from 25 july 2002 with a valid exercise period of ten years. twenty-five percent of the shares subject to such options will 
vest at the end of each year. 
particulars of the outstanding options granted to the directors under the pre-listing share option scheme as at 30 june 2006 are set 
out below: 
number of share options 
date of grant 
exercise 
price 
(hk$) exercisable period 
granted on 5 
july, 2002 
balances as 
at 1 january, 
2006 
exercised 
during the 
period 
surrendered 
during the 
period 
lapsed 
during the 
period 
balances as 
at 30 june 
2006 
hua qingshan 5 july 2002 8.50 25 july 2003 to 4 
july 2012 
1,446,000 1,446,000 ─ ─ ─ 1,446,000 
li zaohang 5 july 2002 8.50 25 july 2003 to 4 
july 2012 
1,446,000 1,446,000 ─ ─ ─ 1,446,000 
save as disclosed above, at no time during the period under review was the bank, its holding companies, or any of its subsidiaries or 
fellow subsidiaries a party to any arrangements to enable the directors and supervisors of the bank and their respective spouses or 
children below the age of 18 to acquire benefits by means of the acquisition of shares in, or debentures of, the bank or any other 
body corporate. 
directors and supervisors’ interests in shares, underlying shares and debentures 
save as disclosed above, as of 30 june 2006, none of the directors or supervisors of the bank had any interests or short positions in 
the shares, underlying shares or debentures of the bank or any associated corporation (within the meaning of part xv of the sfo) as 
recorded in the register required to be kept by the bank pursuant to section 352 of the sfo or as otherwise notified to the bank and 
the hong kong stock exchange pursuant to the model code for securities transactions by directors of listed issuers as set out in 
appendix 10 of the listing rules of the hong kong stock exchange. 
xvi purchase, sale or redemption of the bank’s shares 
the bank issued to ssf 8,514,415,652 ordinary shares on 13 march 2006 at a premium. 
the bank issued 25,568,590,000 ipo h shares in the hong kong stock exchange on 1 june 2006, with the over-allotment option 
exercised on 9 june 3,835,288,000 h-shares were issued. 
the bank issued 6,493,506,000 new a shares on 29 june 2006, and the bank's a shares were listed and commenced trading on the 
shanghai stock exchange on 5 july 2006. 
save for the above, neither the bank nor any of its subsidiaries has purchased, sold or redeemed any of the bank’s shares. 
xvii compliance with the code on corporate governance practices of the listing rules 
the bank endeavored to establish good corporate governance principles and practices and believed that upholding international 
standards of corporate governance is crucial to safeguarding the interests of shareholders. the board of directors and board of 
supervisors have been organized in line with relevant laws and regulations. the board of directors is accountable to the general 
meeting of shareholders and responsible for, among other things, approving the bank ’s business strategy and operating plans, 
appointing senior management and establishing organization structure. with the board of directors at the core, the bank has set up a 
58 
number of board committees, namely strategic development committee, audit committee, risk policy committee, personnel and 
remuneration committee and connected transaction control committee to perform functions designated by the board of directors. 
the board of supervisors is accountable to the general meeting of shareholders and has the responsibility and power to, among other 
things, supervise the board of directors and senior management, inspect the bank ’s financial activities and examine decisions made. 
the bank has conducted a gap analysis between the requirements of the code on corporate governance practices (the “cg code”) 
as set out in appendix 14 of the listing rules of the hong kong stock exchange on the one hand and the group’s internal 
requirements and practices on the other hand. the bank has been in full compliance with the code provisions and has substantially 
complied with the recommended best practices set out in the cg code. 
xviii compliance with the model code for securities transactions by directors 
the bank has adopted the model code for securities transactions by directors of listed issuers as set out in appendix 10 of the 
listing rules of the hong kong stock exchange to govern securities transactions by directors. the bank has made specific enquiry 
of all directors of the bank, and the directors have confirmed that they have complied with the required standards set out in the said 
model code throughout the period under review. 
xix compliance with prc accounting standards for business enterprises and accounting principles for financial 
institutions 
the interim report as at the end of the first half of 2006 is in compliance with the requirements of interim report, prc accounting 
standards for business enterprises and accounting principles for financial enterprise. 
xx interim report 
this interim report is available in both english and chinese. the chinese and english versions of this interim report is available by 
writing to the bank ’s h share registrar, computershare hong kong investor services limited, at hopewell centre, 46th floor, 183 
queen’s road east, wan chai, hong kong. the chinese and english versions of this interim report are available at major business 
locations of the bank. this interim report is also available (in both english and chinese) on the bank ’s website at www.boc.cn, 
www.sse.com.cn, and www.hkex.com.hk. 
if you have any queries about how to obtain copies of this interim report or how to access those documents on 
the bank ’s website, please call the bank ’s hotline at (852) 2862 8633 or 8610-66596688. 
bank of china limited 
condensed consolidated financial statements 
unaudited 
for the six month period ended 30 june 2006 
[english translation for reference only] 
bank of china limited 
condensed consolidated financial statements 
for the period ended 30 june 2006 
contents pages 
review report 1 
condensed financial statements 
balance sheets 2-3 
income statements 4 
statements of changes in shareholders’ equity 5-8 
cash flow statements 9-10 
notes to the condensed financial statements 11-68 
appendix i 69 
appendix ii 70-74 
review report 
pwc zt sz (2006) no. 302 
to the shareholders of bank of china limited: 
we have reviewed the accompanying balance sheet of bank of china limited (the “bank”) as of 30 
june, 2006, and its profit and loss account and cash flow statement for the period then ended, and 
the consolidated balance sheet of bank of china group (the “group” comprising the bank and its 
subsidiaries) as at 30 june 2006 and its consolidated profit and loss account and cash flow 
statement for the period then ended. the bank’s management is responsible for preparing these 
condensed financial statements. our responsibility is to issue a report on these financial statements 
based on our review. 
we conducted our review in accordance with the independent auditing practice pronouncement 
no.10 - engagements to review financial statements. a review is limited primarily to inquiries of 
company personnel and analytical procedures applied to financial data and thus provides less 
assurance than an audit. we have not performed an audit and, accordingly, we do not express an 
audit opinion. 
based on our review, nothing has come to our attention that causes us to believe that the 
accompanying financial statements are not prepared, in all material respects in accordance with the 
accounting standards for business enterprises, the accounting system for financial institutions and 
other relevant accounting regulations. 
pricewaterhousecoopers zhong tian 
certified public accountants limited company 
shanghai, china 
29 august 2006 
普华永道中天会计师事务所有限公司 
11th floor 
pricewaterhousecoopers center 
202 hu bin road 
shanghai 200021 
people's republic of china 
telephone +86 (21) 6123 8888 
facsimile +86 (21) 6123 8800 

bank of china limited 
balance sheets 
as at 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
2 
bank of china group bank of china limited 
assets note 
30 june 
2006 
31 december 
2005 
30 june 
2006 
31 december 
2005 
unaudited audited unaudited audited 
cash 29,811 28,644 26,684 25,144 
precious metals 40,649 30,314 39,003 28,577 
due from central banks iii.1 340,651 316,941 314,986 284,373 
government certificates of 
indebtedness for bank 36,094 35,586 1,650 1,641 
trading and other debt 
securities at fair value 
through profit or loss iii.2 110,602 107,271 81,224 82,082 
derivative financial 
instruments iii.3 21,540 16,808 15,136 11,329 
due from and placements 
with banks and other iii.4 300,114 344,537 223,651 256,786 
debt securities iii.5; iv.1 1,877,669 1,562,320 1,570,481 1,297,990 
loans and advances to 
customers iii.6; iv.2 2,405,536 2,235,046 2,042,201 1,868,105 
less: provision for loan 
losses (88,128) (83,153) (84,753) (79,581) 
interest receivable 23,187 20,408 18,726 16,107 
equity investments iii.7; iv.3 14,775 15,393 69,439 66,951 
fixed assets 71,208 72,978 52,169 53,392 
construction in progress 3,940 3,342 3,933 3,331 
deferred tax assets iii.13 17,410 17,561 17,298 17,428 
other assets 21,875 18,810 11,076 10,384 
total assets 5,226,933 4,742,806 4,402,904 3,944,039 

bank of china limited 
balance sheets 
as at 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
3 
bank of china group bank of china limited 
liabilities note 
30 june 
2006 
31 december 
2005 
30 june 
2006 
31 december 
2005 
unaudited audited unaudited audited 
due to central banks iii.8 30,495 30,055 30,470 30,030 
bank notes in circulation 36,151 35,731 1,708 1,786 
derivative financial instruments 
and liabilities at fair value 
through profit or loss iii.9 101,172 91,174 80,777 76,323 
due to and placements from 
banks and other financial 358,349 345,233 350,337 343,574 
deposits from customers iii.10; iv.4 4,053,024 3,703,777 3,356,973 3,009,187 
interest payable 31,485 27,024 29,559 25,291 
special purpose borrowings iii.11 49,622 52,164 49,622 52,164 
bonds issued iii.12 60,177 60,179 60,177 60,179 
deferred tax liabilities iii.13 254 184 22 22 
other liabilities iii.14 119,751 134,665 85,618 111,641 
total liabilities 4,840,480 4,480,186 4,045,263 3,710,197 
minority interests iii.16 28,812 28,778 - - 
shareholder’s equity 
share capital iii.17 253,839 209,427 253,839 209,427 
capital reserve iii.18 76,545 3,978 75,888 3,978 
surplus reserve iii.19 8,095 5,987 8,095 5,987 
general reserve and statutory 
reserve of subsidiary iii.19 9,398 5,109 9,398 5,109 
undistributed profits iii.19 23,837 12,585 24,494 12,585 
reserve for fair value changes of 
available-for-sale securities iii.19 (11,954) (1,380) (11,954) (1,380) 
currency translation differences (2,119) (1,864) (2,119) (1,864) 
total shareholder’s equity 357,641 233,842 357,641 233,842 
total liabilities and shareholder’s 
equity 5,226,933 4,742,806 4,402,904 3,944,039 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: general manager in charge of the accounting 
li lihui liu yanfen 
bank of china limited 
income statement 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
4 
for the six month period ended 30 june 
bank of china group bank of china limited 
note 2006 2005 2006 2005 
unaudited unaudited unaudited unaudited 
interest income iii.20; iv.5 99,777 77,466 79,525 66,038 
interest expense iii.20; iv.5 (45,301) (28,808) (33,197) (24,401) 
net interest income 54,476 48,658 46,328 41,637 
net fee and commission income iii.21; iv.6 6,841 4,518 4,762 3,029 
net trading (expense)/income iii.22; iv.7 (193) 2,993 (282) 2,250 
investment income iii.23; iv.8 1,681 149 7,652 4,840 
other operating income, net iii.24 1,797 361 245 12 
64,602 56,679 58,705 51,768 
operating and administrative expenses iii.25; iv.9 (23,193) (21,000) (19,715) (17,744) 
business tax and surcharges iii.26 (2,987) (2,670) (2,952) (2,650) 
operating profit 38,422 33,009 36,038 31,374 
non-operating income, net 467 1,145 222 777 
profit before impairment losses 38,889 34,154 36,260 32,151 
impairment losses iii.27; iv.10 (4,876) (4,576) (5,680) (6,116) 
profit before tax 34,013 29,578 30,580 26,035 
income tax iii.28 (12,362) (10,860) (10,937) (9,601) 
profit after tax 21,651 18,718 19,643 16,434 
minority interests (2,627) (2,284) - - 
net profit 19,024 16,434 19,643 16,434 
earnings per share for profit 
attributable to the shareholders of 
the bank during the 
period(expressed in renminbi per 
ordinary share) iii.29 
- basic 0.09 0.09 
- diluted 0.09 0.09 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: general manager in charge of the accounting 
li lihui liu yanfen 
bank of china limited 
statements of changes in shareholder’s equity 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
5 
unaudited 
bank of china group 
note 
share 
capital 
capital 
reserve 
statutory 
reserves 
general and 
regulatory 
reserves 
undistributed 
profits 
reserve for fair 
value changes 
of available-forsale 
securities 
currency 
translation 
difference
s total 
at 1 january 2006 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
net profit for the period - - - - 19,024 - - 19,024 
issue of ordinary shares iii.17;iii.18 44,412 72,567 - - - - - 116,979 
appropriation to statutory reserve iii.19 - - 2,108 - (2,108) - - - 
appropriation to general and 
regulatory reserves iii.19 
- - - 4,291 (4,291) - - - 
net fair value changes of availablefor-
sale securities iii.19 
- - - - - (10,574) - (10,574) 
dividend iii.19 - - - - (1,375) - - (1,375) 
currency translation differences - - - - - - (255) (255) 
others - - - (2) 2 - - - 
at 30 june 2006 253,839 76,545 8,095 9,398 23,837 (11,954) (2,119) 357,641 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: general manager in charge of the accounting 
li lihui liu yanfen 
bank of china limited 
statements of changes in shareholder’s equity 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
6 
unaudited 
bank of china limited 
note 
share 
capital 
capital 
reserve 
statutory 
reserves 
general and 
regulatory 
reserves 
undistributed 
profits 
reserve for fair 
value changes 
of available-forsale 
securities 
currency 
translation 
difference
s total 
at 1 january 2006 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
net profit for the period - - - - 19,643 - - 19,643 
issue of ordinary shares iii.17;iii.18 44,412 72,219 - - - - 116,631 
appropriation to statutory reserve iii.19 - - 2,108 - (2,108) - - - 
appropriation to general and 
regulatory reserves iii.19 
- - - 4,291 (4,291) - - - 
net fair value changes of availablefor-
sale securities iii.19 
- - - - - (10,574) - (10,574) 
dividend iii.19 - - - - (1,375) - - (1,375) 
currency translation differences - - - - - - (255) (255) 
others iii.18 - (309) - (2) 40 - - (271) 
at 30 june 2006 253,839 75,888 8,095 9,398 24,494 (11,954) (2,119) 357,641 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: general manager in charge of the accounting 
li lihui liu yanfen 
bank of china limited 
statements of changes in shareholder’s equity 
for the six month period ended 30 june 2005 
(amount in millions of renminbi, unless otherwise stated) 
7 
unaudited 
bank of china group and bank of china limited 
note 
share 
capital 
statutory 
reserves 
general reserve and 
statutory reserve 
of subsidiary 
undistributed 
profits 
reserve for fair value 
changes of availablefor-
sale securities 
currency 
translation 
differences total 
at 1 january 2005 186,390 3,140 419 17,373 (2,315) 344 205,351 
net profit for the year - - - 16,434 - - 16,434 
additions - 75 2,480 (2,555) - - - 
net changes in fair value of 
available-for-salesecurities reserve 
- - - 
- 3,349 
- 3,349 
currency translation differences - - - - - (354) (354) 
at 30 june 2005 186,390 3,215 2,899 31,252 1,034 (10) 224,780 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: general manager in charge of the accounting 
li lihui liu yanfen 
bank of china limited 
statements of changes in shareholder’s equity 
for the year ended 31 december 2005 
(amount in millions of renminbi, unless otherwise stated) 
8 
unaudited 
bank of china group and bank of china limited 
note 
share 
capital 
capital 
reserve 
statutory 
reserves 
general reserve 
and statutory 
reserve of 
subsidiary 
undistributed 
profits 
reserve for fair 
value changes of 
available-for-sale 
securities 
currency 
translation 
differences total 
at 30 june 2005 186,390 - 3,215 2,899 31,252 1,034 (10) 224,780 
net profit for the year - - - - 11,058 - - 11,058 
issue of ordinary shares iii.17 23,037 3,964 - - - - - 27,001 
appropriation iii.19 - - 2,772 2,210 (4,982) - - - 
net fair value changes of available-forsale 
securities iii.19 - - - - - (2,414) - (2,414) 
dividend iii.19 - - - - (26,937) - - (26,937) 
adoption of equity accounting for 
investment in an associate - - - - 2,194 - - 2,194 
currency translation differences - - - - - - (1,854) (1,854) 
others - 14 - - - - - 14 
at 31 december 2005 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: general manager in charge of the accounting 
li lihui liu yanfen 
bank of china limited 
cash flow statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
9 
for the six month period ended 30 june 
note bank of china group bank of china limited 
2006 2005 2006 2005 
unaudited unaudited unaudited unaudited 
cash flows from operating activities 
interest received 96,998 75,995 76,906 64,952 
commission received 7,505 5,919 5,218 3,701 
cash received from bad debts written-off 
previously 986 1,823 250 607 
net increase in customer deposits (including 
structured deposits ) 349,247 246,881 347,786 248,163 
net decrease/(increase) in due from and 
placements with banks and other financial 
institutions 15,392 58,072 39,448 17,039 
net increase in due to and placements from 
banks and other financial institutions 13,116 45,141 6,763 20,378 
net change in other operating items (2,811) 392 (18,114) (10,686) 
cash inflows from operating activities 480,433 434,223 458,257 344,154 
cash paid for interest on customer deposits 
and inter-bank balances (39,461) (24,782) (27,550) (20,572) 
commission paid (1,325) (1,397) (460) (673) 
cash paid to and on behalf of the employees (13,670) (11,289) (11,139) (9,290) 
cash paid for operating expenses and others (7,322) (6,450) (6,399) (5,397) 
income tax paid (15,279) (13,331) (14,681) (12,859) 
business and other taxes paid (3,421) (2,763) (3,387) (2,738) 
net increase in loans (171,476) (140,154) (175,023) (111,643) 
net increase in debt securities (315,213) (174,485) (269,766) (148,567) 
net increase in statutory deposit reserve with 
central banks (18,820) (24,116) (24,531) (24,119) 
net increase in precious metals (10,335) 4,832 (10,426) 4,816 
net decrease in due to central banks 440 (9,777) 440 (9,776) 
net decrease in special purpose borrowings (2,542) (8,896) (2,542) (8,896) 
cash outflows from operating activities (598,424) (412,608) (545,464) (349,714) 
net cash inflows/(outflows) from operating 
activities 
iii.30; 
iv.11 (117,991) 21,615 (87,207) (5,560) 

bank of china limited 
cash flow statements (continued) 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
10 
for the six month period ended 30 june 
note bank of china group bank of china limited 
2006 2005 2006 2005 
unaudited unaudited unaudited unaudited 
cash flows from investing activities 
cash received from disposal of fixed assets and 
other assets 625 1,651 73 690 
cash received from disposal of equity 
investments 609 660 69 267 
dividends received 20 36 3,894 3,340 
cash inflows from investing activities 1,254 2,347 4,036 4,297 
cash paid for purchase of fixed assets and other 
assets (2,190) (1,766) (1,730) (1,556) 
cash paid for increase of equity investments (270) (1,506) (447) (49) 
cash outflows from investing activities (2,460) (3,272) (2,177) (1,605) 
net cash (outflows)/inflows from investing 
activities (1,206) (925) 1,859 2,692 
cash flows from financing activities 
cash received from issuance of ordinary shares 117,423 - 116,766 - 
cash received from issuance of subordinated 
bonds - 33,930 - 33,930 
cash received from minority shareholders as 
additional capital injection to subsidiaries 86 5 - - 
cash inflows from financing activities 117,509 33,935 116,766 33,930 
c ash payments for interest on bonds issued (1,379 ) (15) (1,379 ) (15) 
dividend payments (3,266) (1,637) (1,375) - 
others (238) - (238) - 
cash outflows from financing activities (4,883) (1,652) (2,992) (15) 
net cash inflows from financing activities 112,626 32,283 113,774 33,915 
effect of foreign exchange rate changes (1,068) (4,159) 1 (4,032) 
increase in cash and cash equivalents (7,639) 48,814 28,427 27,015 
cash and cash equivalents at 1 january 397,112 366,142 275,623 274,215 
cash and cash equivalents at 30 june 
iii.30; 
vi.11; 389,473 414,956 304,050 301,230 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: 
general manager in charge of the accounting 
department: 
li lihui liu yanfen 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
11 
i basis of preparation and consolidation 
1 basis of preparation 
the unaudited condensed consolidated financial statements have been prepared in accordance with 
the accounting standards for business enterprises, the accounting system for financial institutions 
and other relevant accounting regulations applicable to the group. the interim financial statements , 
and should be read in conjunction with the 2005 annual financial statements. 
the unaudited condensed consolidated financial statements have been prepared in accordance with 
the accounting standards for business enterprises — interim reporting issued by mof and in 
accordance with disclosure — no.3 contents and reporting formats for listed companies (2003 
revised) issued by china securities regulatory commission. 
the principal accounting policies adopted in the preparation of the unaudited condensed 
consolidated financial statement are consistent with those used in the group’s accounts for the year 
ended 31 december 2005. 
in february 2006, the mof issued 39 new and revised accounting standards for enterprises as part 
of the prc government’s initiative to converge the prc gaap with international financial reporting 
standards. these new standards, which are mandatory for all listed companies and optional for 
others, are effective for accounting periods commencing on or after 1 january 2007. the group 
plans to implement these standards, effective 1 january 2007 and has commenced an assessment 
of their effect on the group's existing accounting policies. while management’s assessment of the 
new standards is not yet completed, principal differences with the group’s existing accounting 
policies include the following: 
(1) except for the equity investments held for trading in overseas operations, the group currently 
accounts for equity investments at cost less impairment. under the new standards, equity 
investments other than investments in subsidiaries, associates and investments held for trading will 
be classified as available-for-sale securities. management plans to classify and account for other 
equity investments as available-for-sale according to the new standards and those investments with 
active market quotation will be recorded at fair value with gains or losses reported in shareholders’ 
equity. 
(2) the group currently accounts for investment properties at cost less impairment. under the new 
standards, these assets can either be measured at fair value or at amortised cost less impairment. 
the method can not be changed once it is selected by management. management plans to account 
for investment properties using fair value. 
(3) the group currently accounts for the early retirement benefits on a cash basis when paid. under the 
new standards, a liability is required to be recorded at actuarially determined value of future early 
retirement benefits payable to employees who have commenced early retirement, with changes in 
the value of this liability reported in the income statement. 
(4) the bank currently accounts for its investment in subsidiaries using equity accounting method in the 
bank’s financial statements. under the new standards, these investments are stated at cost in the 
bank’s financial statements. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
12 
i basis of preparation and consolidation (continued) 
2 basis of consolidation 
the consolidated financial statements include the accounts of the bank and its subsidiaries. the 
significant subsidiaries of the bank are presented in section ii, “subsidiaries”. 
the bank fully consolidates its subsidiaries from the date on which the bank obtains actual control of 
the subsidiaries and the bank de-consolidates them from the date that control ceases to exist. all 
significant intercompany balances, intercompany transactions and intercompany unrealised profits or 
losses are eliminated on consolidation. minority interests represent the interests of minority 
shareholders in the operating results and net assets of the bank’s subsidiaries. 
accounting policies of subsidiaries have been adjusted where necessary to ensure consistency with 
the policies adopted by the group. 
3 segment reporting 
a business segment is a group of assets and operations engaged in providing products and services 
that are subject to risks and returns that are different from those of other business segments. a 
geographical segment is engaged in providing products and services within a particular economic 
environment that are subject to risks and returns that are different from those of segments operating 
in other economic environments. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
13 
ii subsidiaries 
as at 30 june 2006, the principal subsidiaries set out below are consolidated. all holdings are in the 
ordinary share capital of the undertaking concerned. 
name 
place of 
incorporation / 
establishment 
equity 
held 
(%) 
registered 
capital/ 
paid-in 
capital 
(in millions) principal business 
directly controlled 
boc hong kong (group) limited hong kong 100.00 hkd34,806 holding company 
boc international holdings limited hong kong 100.00 hkd3,539 investment banking 
bank of china group insurance 
company limited 
hong kong 100.00 hkd1,269 insurance services 
bank of china group investment 
limited 
hong kong 100.00 hkd200 
holding of industrial 
and other 
investments 
tai fung bank limited macau 50.31 mop1,000 commercial banking 
indirectly controlled 
boc hong kong (holdings) 
limited(1) 
hong kong 65.87 hkd52,864 holding company 
bank of china (hong kong) limited hong kong 65.87 hkd43,043 commercial banking 
nanyang commercial bank limited hong kong 65.87 hkd600 commercial banking 
chiyu banking corporation limited(2) hong kong 46.43 hkd300 commercial banking 
boc credit card (international) 
limited 
hong kong 65.87 hkd480 credit card services 
boc group trustee company 
limited (3) 
hong kong 76.31 hkd200 provision of trustee 
services 
(1) listed on the stock exchange of hong kong. 
(2) bank of china (hong kong) limited holds 70.49% share of this company. 
(3) bank of china (hong kong) limited, nanyang commercial bank limited, chiyu banking corporation 
limited and boc international holdings limited hold 54%, 6%, 6% and 34% shares of this company 
respectively. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
14 
iii notes to the consolidated financial statements 
1 due from central banks 
30 june 2006 31 december 2005 
settlement account balances with the pboc 88,305 89,124 
due from overseas central banks 25,763 25,787 
subtotal 114,068 114,911 
rmb statutory deposit reserve with the pboc 203,119 182,825 
foreign currency statutory deposit reserve with the 
pboc 13,549 13,595 
fiscal deposits with the pboc 7,876 3,355 
statutory deposit reserve with overseas central banks 2,039 2,255 
subtotal 226,583 202,030 
total 340,651 316,941 
domestic operations are required to place an rmb statutory deposit reserve, a foreign currency 
statutory deposit reserve and a fiscal deposit with the pboc. at 30 june 2006, the required reserve 
ratio for customer deposits denominated in rmb was 7.5% (2005: 7.5%); the required reserve ratio 
for customer deposits denominated in foreign currencies is 3% (2005: 3%). the fiscal deposit of 
domestic operations is comprised of funds from government agencies, and proceeds of bonds 
issued on behalf of the mof. the foreign currency deposit reserve and fiscal deposits placed with 
the pboc are non-interest bearing. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
15 
iii notes to the consolidated financial statements (continued) 
2 trading and other debt securities at fair value through profit or loss 
30 june 2006 31 december 2005 
trading 
government bonds 27,761 19,116 
public sector and quasi government bonds 3,088 2,095 
financial institution bonds 23,600 30,599 
corporate bonds 3,794 4,179 
sub-total 58,243 55,989 
other debt securities at fair value through profit or loss 
(designated at initial recognition) 
government bonds 9,267 10,704 
public sector and quasi government bonds 11,218 12,974 
financial institution bonds 26,667 19,979 
corporate bonds 5,207 7,625 
sub-total 52,359 51,282 
total 110,602 107,271 
included in other debt securities at fair value through profit or loss are debt securities with respect to 
which the group has established economic hedges using derivative instruments. gains and losses 
arising on the derivatives are intended to substantially offset the gains and losses arising on these 
securities, which might have otherwise been classified as “available-for-sale” or “held-to-maturity” 
securities. 
3 derivative financial instruments 
the group enters into the following foreign exchange rate or interest rate related derivative financial 
instruments for trading and risk management purposes: 
the contractual/notional amount and fair values of derivative instruments held by the group are set 
out in the following table. the contractual/notional amounts of certain types of financial instruments 
provide a basis for comparison with fair value instruments recognised on the balance sheet but do 
not necessarily indicate the amounts of future cash flows involved or the current fair value of the 
instruments and, therefore, do not indicate the group’s exposure to credit or market risks. the 
derivative instruments become favourable assets or unfavourable (liabilities) as a result of 
fluctuations in market exchange rate, interest rates or equity/commodity prices relative to their terms. 
the aggregate fair values of derivative financial assets and liabilities can fluctuate significantly from 
time to time. 
the fair values of derivatives that are not quoted in active markets are determined by using valuation 
techniques. valuation techniques used include discounted cash flows analysis and models. to the 
extent practical, models use only observable data, such as interest rate and foreign exchange rates, 
however areas such as credit risk (both own and counterparty’s), volatilities and correlations require 
management to make estimates. changes in such observable data and assumptions about these 
factors could affect reported fair value of financial instruments. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
16 
iii notes to the consolidated financial statements (continued) 
3 derivative financial instruments (continued) 
at 30 june 2006 
contractual / 
notional amount fair values 
assets liabilities 
foreign exchange derivatives 
currency forwards (1） 800,207 8,412 (5,040) 
otc currency options (2) 268,738 4,348 (708) 
sub-total 12,760 (5,748) 
interest rate derivatives 
interest rate swaps 402,830 6,194 (7,333) 
cross-currency interest rate swaps 38,209 1,943 (3,980) 
otc interest rate options 149,528 146 (1,058) 
interest rate futures 17,552 21 (3) 
sub-total 8,304 (12,374) 
equity derivatives 11,223 166 (227) 
precious metals derivatives 10,686 310 (412) 
total derivative financial instruments 
assets/(liabilities) (note iii.9) 
21,540 (18,761) 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
17 
iii notes to the consolidated financial statements (continued) 
3 derivative financial instruments (continued) 
at 31 december 2005 
contractual / 
notional amount fair values 
assets liabilities 
foreign exchange derivatives 
currency forwards (1) 563,397 6,991 (4,813) 
otc currency options (2) 196,012 3,781 (374) 
sub-total 10,772 (5,187) 
interest rate derivatives 
interest rate swaps 361,332 3,132 (5,246) 
cross-currency interest rate swaps 39,427 1,735 (4,131) 
otc interest rate options 110,578 148 (215) 
interest rate futures 14,939 28 (34) 
sub-total 5,043 (9,626) 
equity derivatives 15,442 14 (7) 
precious metals derivatives 21,008 979 (932) 
total derivative financial instruments 
assets/(liabilities) (note iii.9) 16,808 
(15,752) 
(1) since 2005, the pboc selected certain domestic banks, including the bank, to conduct foreign 
exchange swap transactions. under these agreements, the pboc sold usd to the bank in spot 
transactions for rmb and agreed to buy back the usd after one year at agreed exchange rates, 
which reflect the interest rate differentials between usd and rmb at the respective inception date of 
the transactions. 
(2) on 5 january 2005, the bank entered into a foreign currency option agreement with central safe 
investment limited (“huijin”) whereby the bank acquired options to sell huijin usd, totaling usd 18 
billion, of no more than usd 1,500 million at the beginning of each calendar month during the year 
ending 31 december 2007 at a fixed exchange rate of usd 1 to rmb 8.2769. the related option 
premium amounted to rmb 4,469 million, is payable by the bank to huijin in 12 equal monthly 
installments at the beginning of each calendar month during the year ending 31 december 2007. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
18 
iii notes to the consolidated financial statements (continued) 
4 due from and placements with banks and other financial institutions 
30 june 2006 31 december 2005 
due from banks 
due from domestic banks 2,860 4,305 
due from overseas banks 4,114 8,133 
sub-total 6,974 12,438 
placements with banks and other financial institutions 
placements with domestic banks 53,862 52,439 
placements with other domestic financial 
institutions 50,605 26,302 
placements with overseas banks 189,217 253,904 
sub-total 293,684 332,645 
provision for impairment (544) (546) 
sub-total 293,140 332,099 
total 300,114 344,537 
as at 30 june 2006, placements with banks and other financial institutions reported on non-accrual 
basis were rmb 544 million (2005: rmb 546 million). 
placements with banks and other financial institutions include balances arising from reverse repo 
agreements as follows: 
30 june 2006 31 december 2005 
bills discounted under reverse repos 14,007 7,592 
bonds under reverse repos 
government bonds 47,109 41,857 
financial institution bonds 26,476 20,191 
total 87,592 69,640 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
19 
iii notes to the consolidated financial statements (continued) 
5 debt securities 
30 june 2006 31 december 2005 
debt securities available-for-sale (at fair value): 
government bonds 309,350 229,064 
public sector and quasi government bonds 247,158 106,840 
financial institution bonds 228,024 170,038 
corporate bonds 134,643 87,068 
sub-total 919,175 593,010 
debt securities held-to-maturity (at amortised cost): 
government bonds 224,065 231,156 
public sector and quasi government bonds 119,604 135,002 
financial institution bonds 192,294 203,724 
corporate bonds 33,163 37,577 
sub-total 569,126 607,459 
debt securities classified as loans and receivables (at 
amortised cost): 
china orient bond 160,000 160,000 
pboc special bills (1) 91,612 91,530 
special purpose treasury bond 42,500 42,500 
short term bills and notes 
- public sector and quasi government bonds 15,260 6,096 
- financial institution bonds 67,676 49,993 
- corporate bonds 1,825 - 
certificate treasury bonds and others 10,647 11,888 
389,520 362,007 
provision for impairment (152) (156) 
sub-total 389,368 361,851 
total (2) 1,877,669 1,562,320 
(1) on 22 june 2006, the pboc issued special pboc bills amounting to rmb 82 million in exchange for 
certain debt for equity swap loans, as previously approved by the state council. the tenor of the bill 
is 5 years, with an interest rate of 1.89% per annum. the bills cannot be circulated, transferred or 
pledged as collateral, unless otherwise approved by pboc. 
(2) as at 30 june 2006, debt securities of rmb 76,822 million (2005: rmb 49,658 million) were pledged 
as collateral to third parties under agreement to repurchase. refer to note ix.2. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
20 
iii notes to the consolidated financial statements (continued) 
6 loans and advances to customers 
(1) analysed by security type 
loans and advances to customers are analysed by the form of security as follows: 
30 june 2006 31 december 2005 
unsecured loans 578,987 475,764 
guaranteed loans 723,502 684,824 
collateralised and other secured loans 1,103,047 1,074,458 
total 2,405,536 2,235,046 
(2) analysed by industry sector 
30 june 2006 31 december 2005 
corporate loans 
manufacturing 591,908 531,191 
commercial and servicing 323,348 301,863 
real estate 201,585 190,297 
energy, mining and agriculture 252,416 230,854 
transportation and logistics 200,503 193,428 
public services 104,827 91,924 
financial services 112,153 96,245 
construction 38,304 36,050 
others 39,037 40,191 
sub-total 1,864,081 1,712,043 
consumer loans 
residential mortgages 428,119 413,007 
vehicle loans 24,391 28,005 
credit card and others 88,945 81,991 
sub-total 541,455 523,003 
total 2,405,536 2,235,046 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
21 
iii notes to the consolidated financial statements (continued) 
6 loans and advances to customers (continued) 
(3) accrual and non-accrual loans 
30 june 2006 31 december 2005 
accrual loans 2,322,496 2,158,232 
non-accrual loans 83,040 76,814 
total 2,405,536 2,235,046 
(4) as at 30 june 2006, loans and advances to customers include bills pledged as collateral under 
reverse repurchase agreements amounting to rmb 5,569 million (2005: rmb 11,968 million). refer 
to note ix.2. 
7 equity investments 
30 june 2006 31 december 2005 
investment in associates (1) 5,673 5,100 
other equity investments (2) 6,675 7,043 
12,348 12,143 
less: impairment provision (1,138) (1,243) 
11,210 10,900 
equity investments held for trading (at fair value) (3) 3,565 4,493 
total 14,775 15,393 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
22 
iii notes to the consolidated financial statements (continued) 
7 equity investments(continued) 
(1) as at 30 june 2006, the principal associates of the group are as follows: 
place of 
incorporation/ 
establishment 
equity 
held 
paid-in 
capital 
principal business 
(%) (in millions) 
huaneng international power 
development corporation prc 20 usd450 
construct and operate 
electricity factory and 
related projects 
boc international (china) 
limited prc 49 rmb1,500 
securities underwriting, 
investment advisory, and 
brokerage services 
cjm insurance brokers 
limited hong kong 33 hkd6 insurance broker 
joint electronic teller 
services limited hong kong 19.96 hkd10 
private inter-bank 
message switching 
network and atm services 
dongfeng peugeot citroen 
auto finance company 
ltd prc 50 rmb500 
car loan and financing 
services 
(2 ) o ther equity investments mainly include: (i) equity investments held for investment purpose by the 
bank’s subsidiaries in hong kong; and (ii) certain historical non-banking equity investments held by 
domestic operations. in december 2005, the bank entered into a contract with china orient and 
transfered out most of its historical non-banking equity investments. 
(3 ) e quity investments held for trading principally comprise listed shares held by the bank’s subsidiaries 
in hong kong. 
8 due to central banks 
30 june 2006 31 december 2005 
special foreign exchange deposits of government 
agencies 30,080 28,873 
borrowings from central banks 33 520 
others 382 662 
total 30,495 30,055 
9 derivative financial instruments and liabilities at fair value through profit or loss 
30 june 2006 31 december 2005 
derivative financial instruments liabilities (note iii. 3) 18,761 15,752 
liabilities at fair value through profit or loss 
structured deposits 75,092 70,069 
short position in foreign currency debt securities 4,057 3,740 
short position in exchange fund bills 3,262 1,613 
sub-total 82,411 75,422 
total 101,172 91,174 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
23 
iii notes to the condensed consolidated financial statements (continued) 
10 deposits from customers 
30 june 2006 31 december 2005 
short-term corporate deposits 
corporate demand deposits 940,638 836,763 
corporate time deposits less than one year 527,225 486,681 
sub-total 1,467,863 1,323,444 
short-term saving deposits 
demand deposits 734,894 667,957 
time deposits less than one year 1,309,567 1,243,964 
sub-total 2,044,461 1,911,921 
long-term corporate deposits 32,157 26,317 
long-term saving deposits 339,763 313,703 
securities and margin deposits 168,780 128,392 
total 4,053,024 3,703,777 
the securities and margin deposits are analysed as follows: 
security deposits for bank acceptance 92,106 63,556 
security deposits for letters of credit and letters of 
guarantee issued 29,206 26,785 
margin deposits for foreign exchange transactions 10,524 8,638 
others 36,944 29,413 
total 168,780 128,392 
11 special purpose borrowings 
30 june 2006 31 december 2005 
export credit loans 15,826 17,147 
foreign government loans 18,076 18,414 
other subsidised loans 15,720 16,603 
total 49,622 52,164 
special purpose borrowings are long-term borrowings from foreign governments and/or banks in the 
form of export credit loans, foreign government loans and other subsidised loans. these special 
purpose loans are normally used to finance projects with special commercial purposes in prc and 
the bank is obliged to repay these loans when they fall due. 
as at 30 june 2006, the maturity of special purpose borrowings ranges from within 1 month to 37 
years, with floating & fixed interest rates range from 0.2% to 9.2%, which are consistent with those 
related to similar development loans from these entities. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
24 
iii notes to the condensed consolidated financial statements (continued) 
12 bonds issued 
issue date maturity date interest rate 30 june 2006 31 december 2005 
bonds issued (1) 
1994 boc us dollar 
debt securities 10 march 1994 15 march 2014 8.25% 177 179 
subordinated bonds issued (2) 
2004 boc rmb debt securities 
- first tranche 7 july 2004 20 july 2014 4.87% 14,070 14,070 
- second tranche 22 october 2004 16 november 2014 4.94% 12,000 12,000 
2005 boc rmb debt securities 
- first tranche 18 february 2005 4 march 2015 4.83% 15,930 15,930 
- second tranche 
(fixed rate) 18 february 2005 4 march 2020 5.18% 9,000 9,000 
- second tranche 
(floating rate) 18 february 2005 4 march 2015 floating rate 9,000 9,000 
sub-total 60,000 60,000 
total 60,177 60,179 
(1) the bank and the bond holders are prohibited from redeeming or requesting an early redemption of 
these bonds before the maturity dates. 
(2) these rmb subordinated bonds are subordinated to all other claims on the assets of the bank, except 
for those of the shareholders. in the calculation of the group’s capital adequacy ratio, these bonds 
qualify for inclusion as supplementary capital. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
25 
iii notes to the condensed consolidated financial statements (continued) 
13 deferred income taxes assets/liabilities 
deferred income taxes are calculated on the timing differences under the liability method using the 
relevant local tax rates applicable to the group’s operation. the movement on the deferred income 
tax account is as follows: 
2006 2005 
at 1 january 17,377 18,647 
charge in the income statement (note iii.28) (226) (1,252) 
exchange differences 5 (18) 
at 30 june /31december 17,156 17,377 
deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset 
current tax assets against current tax liabilities and when the deferred income taxes relate to the same 
fiscal authority. the table below includes the group's deferred income tax assets and liabilities after 
offsetting qualifying amounts: 
30 june 2006 31 december 2005 
deferred income tax assets 17,410 17,561 
deferred income tax liabilities (254) (184) 
total 17,156 17,377 
deferred income tax assets and liabilities are attributable to the following items: 
30 june 2006 31 december 2005 
deferred income tax assets 
asset impairment provision 18,012 17,744 
fair value changes of trading and other fair value 
through profit or loss securities and derivative 
financial instruments 3,902 3,046 
other timing differences 602 696 
sub-total 22,516 21,486 
deferred income tax liabilities 
fair value changes of trading and other fair value 
through profit or loss securities and derivative 
financial instruments (4,319) (3,643) 
depreciation of fixed assets (445) (424) 
other timing differences(1) (596) (42) 
sub-total (5,360) (4,109) 
total 17,156 17,377 
(1) mainly includes the deferred tax liabilities of rmb 545 million in relation to the supplementary tax on 
overseas income generated from the profit of certain overseas subsidiaries owned by the group for 
the six month period ended 30 june 2006. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
26 
iii notes to the condensed consolidated financial statements (continued) 
13 deferred income taxes assets/liabilities (continued) 
the deferred tax charge in the profit and loss account comprises the following timing differences: 
30 june 2006 31 december 2005 
asset impairment provision 265 1,467 
fair value change of debt securities and derivative 
financial instruments 190 (2,338) 
other timing differences (681) (381) 
total (note iii.28) (226) (1,252) 
14 other liabilities 
subsidiaries of the bank undertake insurance bussiness. included in other liabilities are insurance 
liabilities as of 30 june 2006 and 31 december 2005 arising from insurance contracts analysed as 
follows: 
as at 30 june as at 31 december 
2006 2005 
long term insurance contracts 11,093 8,383 
general insurance contracts 2,111 2,079 
total insurance liabilities, net 13,204 10,462 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
27 
iii notes to the condensed consolidated financial statements (continued) 
15 share appreciation rights plan and share option schemes 
(1) share appreciation rights plan 
on 22 november 2005, the bank’s board of directors and shareholders approved and adopted a 
share appreciation rights plan under which eligible participants including directors, supervisors, 
management and other personnel designated by the board, will be granted share appreciation rights, 
up to 25% of which will be exercisable each year beginning on the third anniversary date from the 
date of the grant. the share appreciation rights will be valid for seven years from the date of grant. 
eligible participants will be entitled to receive an amount equal to the difference, if any, between the 
average closing market price of the bank’s h shares in the ten days prior to the date of grant and the 
average closing market price of the bank’s h shares in the 12 months prior to the date of exercise as 
adjusted for any change in the bank’s equity. the plan provides cash-settled share-based payment 
only and accordingly, no share will be issued under the share appreciation rights plan. 
no share appreciation rights were granted during the six month period ended 30 june 2006 and no 
rights were outstanding with respect to the share appreciation rights plan as of 30 june 2006 and 
31 december 2005. 
(2) share option scheme and sharesave plan 
on 10 july 2002, the shareholders of bochk holdings, approved and adopted two share option 
schemes, namely, the share option scheme and the sharesave plan. 
no options were granted during the six month period ended 30 june 2006 and no options were 
outstanding with respect to the share option scheme or the sharesave plan as of 30 june 2006 and 
31 december 2005. 
(3) bochk holdings pre-listing share option scheme 
on 5 july 2002, certain of the bank's directors, senior management personnel and employees of the 
group were granted options by boc hong kong (bvi) limited ("bochk (bvi)"), the immediate 
holding company of bochk holdings, pursuant to a pre-listing share option scheme to purchase 
from bochk (bvi) an aggregate of 31,132,600 previously issued and outstanding shares of bochk 
holdings for hkd8.50 per share. these options, with a ten-year term, vest ratably over four years 
from 25 july 2002. no further offers to grant any options under the pre-listing share option scheme 
will be made. the group has no legal or constructive obligation to repurchase or settle the options in 
cash. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
28 
iii notes to the condensed consolidated financial statements (continued) 
15 share appreciation rights plan and share option schemes (continued) 
(3) bochk holdings pre-listing share option scheme (continued) 
details of the movement of share options outstanding are as follows: 
shares 
directors 
and key 
management 
other 
employees others (1) 
total 
number of 
shares 
at 1 january 2006 6,142,500 10,619,250 1,446,000 18,207,750 
transfer 239,000 (239,000) - - 
less: share options exercised 
during the period - 
(1,994,050
) - (1,994,050) 
at 30 june 2006 6,381,500 8,386,200 1,446,000 16,213,700 
at 1 january 2005 6,142,500 12,849,300 1,446,000 20,437,800 
less: share options exercised 
during the year - 
(2,121,550
) - (2,121,550) 
less: share options lapsed 
during the year - (108,500) - (108,500) 
at 31 december 2005 6,142,500 10,619,250 1,446,000 18,207,750 
(1) these represent share options held by former directors or former employees of the bochk holdings. 
regarding the share options exercised during the six month period ended 30 june 2006 and year 
ended 31 december 2005, the weighted average share price of bochk holdings' shares at the time 
of exercise was hkd 15.88 (equivalent to rmb 16.42)and hkd 15.01 (equivalent to rmb 15.61). 
16 minority interests 
2006 2005 
at 1 january 28,778 27,387 
share of current period/year profit 2,627 5,105 
increase of shares in a subsidiary (52) 17 
dividends paid to minority shareholders (1,891) (2,954) 
net change in fair value of available-forsales 
investments (342) (110) 
currency translation difference (308) (667) 
at 30 june / 31 december 28,812 28,778 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
29 
iii notes to the condensed consolidated financial statements (continued) 
17 share capital 
ordinary shares 2006 2005 
as at 1 january 209,427 186,390 
issue of ordinary shares(1) 44,412 23,037 
as at 30 june /31 december 253,839 209,427 
number of shares 2006 2005 
as at 1 january 209,427,362,357 186,390,352,497 
issue of ordinary shares(1) 44,411,799,652 23,037,009,860 
as at 30 june/31 december 253,839,162,009 209,427,362,357 
as at 30 june 2006, the bank’s share capital is as follows: 
30 june 2006 
domestic listed a shares(2) 177,818,910,740 
overseas listed h shares(2) 76,020,251,269 
total 253,839,162,009 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
30 
iii notes to the condensed consolidated financial statements (continued) 
17 share capital (continued) 
(1) in accordance with to yinjianhui[2006] no.49 ”approval on the introduction of strategic investor – 
national council for social security fund (“ssf”) into bank of china limited ”, on 13 march 2006, the 
bank issued 8,514,415,652 domestic state-owned shares of a par value of rmb1.00 each to ssf at a 
premium. ssf paid rmb10 billion in cash including share premium of rmb1.481 billion for 
8,514,415,652 domestic state-owned shares issued by the bank. the payment from ssf was verified 
by pricewaterhousecoopers zhong tian cpas limited company in its “verification report on the 
capital contributions to bank of china limited” (pwc zt yz [2006] no. 14) issued on 13 march 2006. 
in accordance with to yinjianhui[2006] no.53 ”approval on the bank of china limited converted into a 
limited company to issue shares and listed overseas”, and to zhengjianhui[2006] no.8 ”approval on 
the bank of china limited to issue overseas listed foreign shares”, on 1 june 2006 and 9 june 
2006, the bank issued 29,403,878,000 h shares at a price of hk$2.95 per share through a global 
offering to hong kong and overseas investors (“global offering”). the payment from foreign investors 
was verified by pricewaterhousecoopers zhong tian cpas limited company in its “verification report 
on initial public offering of overseas listed foreign shares(h share) to bank of china limited” (pwc 
zt yz [2006] no. 82) issued on 29 june 2006. 
in accordance with to yinjianhui[2006] no.135 ”approval on the bank of china limited to issue shares 
and be listed domestically”, and to zhengjianhui[2006] no.20 ”approval on the ipo of bank of china 
limited”, on 29 june 2006, the bank issued 6,493,506,000 a shares with at a price of rmb3.08 per 
share, with share premium totaling rmb12.96 billion (net of share issuance costs of rmb549 million), 
through the a share initial public offering to the domestic investors. the payment from domestic 
investors was verified by pricewaterhousecoopers zhong tian cpas limited company in its 
“verification report on initial public offering of a share to bank of china limited” (pwc zt yz [2006] 
no. 83) issued on 29 june 2006. 
(2) all a shares and h shares rank pari passu with same right and benefits. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
31 
iii notes to the condensed consolidated financial statements (continued) 
18 capital reserve 
during the six month period ended 30 june 2006, the bank issued ordinary shares at share premiums 
(refer to note iii 17(1)) as follows: 
as at 30 june 2006 
group bank 
as at 1 january 2006 3,978 3,978 
premium (1) 72,567 72,219 
others (2) - (309) 
as at 30 june 2006 76,545 75,888 
(1) as at 30 june 2006 
group bank 
issued share 
with nssf 
issued 
h 
share 
issue 
d a 
share total 
total amount of issue ordinary shares 10,000 
89,96
7 
20,00
0 
119,96
7 119,967 
less: issue of ordinary shares (8,514) 
(29,40 
4) (6,494) 
(44,412
) (44,412) 
share premium before issuance costs 1,486 
60,56
3 
13,50
6 75,555 75,555 
less: issuance costs (i) (5) (2,435) (548) (2,988) (3,336) 
net share premium 1,481 
58,12
8 
12,95
8 72,567 72,219 
2005 
group & 
bank 
total amount of issue ordinary shares 27,057 
less: issue of ordinary shares (23,037) 
share premium before issuance costs 4,020 
less: issuance costs (56) 
net share premium 3,964 
(i) the issuance costs mainly include underwriting fees and services fees paid to professional advisors and 
financial institutions. boci asia limited, the subsidiary of the group was appointed as one of the 
underwriters in the bank’s global offerings and was paid underwriting commission at a rate which was 
consistent with that of third parties. this underwriting commission was eliminated on consolidation. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
32 
iii notes to the condensed consolidated financial statements (continued) 
18 capital reserve (continued) 
(2) bank of china group insurance company limited, a wholly owned subsidiary of the group disposed 
of 51% of its equity interest in boc group life assurance company limted to bochk (holding) 
limited, a 65.87% owned listed subsidiary of the group for a consideration of hk$900 million in cash. 
boc hk (holding) limited had adopted merger accounting for this acquisition in its consolidated 
financial statements and had therefore accounted for the amount paid in excess over the carrying 
amount of the net assets acquired in the capital reserve. such premium was eliminated on 
consolidation. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
33 
iii notes to the condensed consolidated financial statements (continued) 
19 surplus reserves, general reserve and regulatory reserve, undistributed profits and reserve 
for fair value changes of available-for-sale securities 
(1) surplus reserves 
under relevant prc laws, the bank is required to transfer 10% of its net profit, as determined under 
prc gaap, to a non-distributable statutory surplus reserve. appropriation to the statutory surplus 
reserve may be ceased when the balance of such reserves has reached 50% of the share capital. 
subject to the approval of the shareholders, statutory surplus reserve can be used for replenishing the 
accumulated loss or increasing the bank’s share capital. the statutory surplus reserve amount used to 
increase the share capital is limited to a level where the balance of statutory surplus reserve after such 
capitalisation.. is not less than 25% of the share capital. 
in addition, some overseas branches and subsidiaries are required to transfer certain percentage of its 
net profit to the statutory surplus reserve as stipulated by local banking authorities. 
the board of director on 29 august 2006 approved the bank to appropriate rmb 1,964 million, or 10% 
of its net profit of the six month period ended 30 june 2006. 
(2) general reserve and regulatory reserve 
pursuant to cai jin [2005] no. 49 “measures on general provison for bad and doubtful debts for 
financial institutions" issued by mof on 17 may 2005, banks and certain other financial institutions 
in the prc, including the bank, are required to maintain an adequate allowance for impairment 
losses against their risk assets as defined. in addition to the specific allowance for impairment 
losses, financial institutions are required to establish and maintain a general reserve within 
shareholders’ equity, through the appropriation of income to address unidentified potential 
impairment losses. according to cai jin [2005] no.49, the general reserve should not be less than 
1% of the aggregate amount of risk assets as defined by this policy. the bank intends to achieve the 
required reserve level within 3 years. 
the regulatory reserve mainly refers to the reserve amount set aside by bank of china (hong kong) 
limited, subsidiary of the group, for general banking risks, including future losses or other 
unforeseeable risks. 
the board of director on 29 august 2006 approved the bank to appropriate rmb 4,291 million to the 
general reserve. as at 30 june 2006, the amount set aside in the general reserve accounted for 0.25 
% of the bank’s risk assets. 
(3) undistributed profits 
pursuant to the 2005 profit distributionplan approved by the shareholder at a post-adjournment 
session of the annual general meeting of the year 2006, the bank distributed a cash dividend of 
rmb1,375 million to its shareholders. 
the board of directors does not propose to declare any dividend for the first half of 2006. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
34 
iii notes to the condensed consolidated financial statements (continued) 
19 surplus reserves, general reserve and regulatory reserve, undistributed profits and reserve 
for fair value changes of available-for-sale securities (continued) 
(4) reserve for fair value changes of available-for-sale securities 
pursuant to caikuaihan [2004] no. 61 “response to issues concerning accounting treatment of 
debt securities” issued by the mof, available-for-sale securities are re-measured at fair value at the 
balance sheet date. unrealised gains and losses arising from changes in the fair value of availablefor-
sale securities are recognised in equity. when available-for-sale securities are disposed of or 
impaired, the related accumulated fair value adjustments are transferred to the income statement. 
as at 30 june 2006, the unrealised losses on available-for-sale securities fair value changes are 
arising from the increase in interest rates of rmb and usd. management has assessed the 
unrealized losses position of these securities and is of the view that the unrealised losses were 
caused by the increase in interest rates and were not due to deteriations of credit rating of the 
issuers. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
35 
iii notes to the condensed consolidated financial statements (continued) 
20 net interest income 
for the six month period ended 
30 june 2006 30 june 2005 
interest income 
loans and advances to customers 60,360 51,971 
debt securities 30,652 19,908 
due from and placements with banks 
and other financial institutions 6,315 3,518 
due from central banks 2,450 2,069 
sub-total 99,777 77,466 
interest expense 
deposits from customers (38,887) (23,815) 
due to and placements from banks and other 
financial institutions, and due to central 
banks (4,122) (2,827) 
special purpose borrowings and bonds 
issued (2,292) (2,166) 
sub-total (45,301) (28,808) 
net interest income 54,476 48,658 
21 net fee and commission income 
for the six month period ended 
30 june 2006 30 june 2005 
settlement and clearing fees 1,794 1,287 
agency commissions 2,201 1,235 
credit commitment fees and commissions 1,438 1,308 
bank card fees 1,365 1,049 
custodian and other fiduciary service fees 248 235 
others 1,120 801 
fee and commission income 8,166 5,915 
fee and commission expense (1,325) (1,397) 
net fee and commission income 6,841 4,518 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
36 
iii notes to the condensed consolidated financial statements (continued) 
22 net trading (expense)/income 
for the six month period ended 
30 june 2006 30 june2005 
net gains from foreign exchange and 
foreign exchange products (1) 1,302 3,322 
net losses from interest rate instruments(2) (1,495) (329) 
total (193) 2,993 
(1) refer to note vii assets and liabilities by currency. 
(2) this included unrealised losses relating to the group’s trading debt securities of rmb 1.755 billion. 
23 investment income 
for the six month period ended 
30 june 2006 30 june 2005 
equity investment 
net gains from investment in associates 339 48 
others (1) 1,248 77 
sub-total 1,587 125 
debt investment 94 24 
total 1,681 149 
(1) other equity investment income included gains on disposal of trading portfolio equity investments 
held by subsidiaries of the group in hong kong. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
37 
iii notes to the condensed consolidated financial statements (continued) 
24 other operating income, net 
for the six month period ended 
30 june 2006 30 june 2005 
other operating income 
insurance premium 4,286 2,624 
others(1) 1,080 143 
sub-total 5,366 2,767 
other operating expense 
insurance claim expense (3,423) (2,168) 
others (146) (238) 
sub-total (3,569) (2,406) 
other operating income, net 1,797 361 
(1) other operating income included gains on disposal of loans to third party held by subsidiaries of the 
group in hong kong amounting to rmb 660 million in march 2006. 
25 operating and administrative expenses 
for the six month period ended 
30 june 2006 30 june 2005 
staff costs 13,278 11,654 
general operating and administrative expenses 7,174 6,208 
depreciation 2,741 3,138 
total 23,193 21,000 
staff costs are analysed as follows: 
for the six month period ended 
30 june 2006 30 june 2005 
salaries and welfare expenses 10,141 9,345 
defined contribution plans 1,495 659 
housing fund contributions 626 427 
other social insurance costs 415 362 
defined benefit plans 139 238 
others 462 623 
total 13,278 11,654 
in the second half of 2005, the group set up a defined contribution plan (“annuity plan”). included in 
the defined contribution plans is rmb 478 million contributed by the bank to the annuity plan during 
the six month period ended 30 june 2006. 
contributions to defined contribution plans for the period ended 30 june 2006 include the effect of 
deductions of forfeited contributions of approximately rmb 12 million (2005: rmb 14 million). the 
amounts of unutilized forfeited contributions available for further deduction are not material as at 30 
june 2006 and 30 june 2005 respectively. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
38 
iii notes to the condensed consolidated financial statements (continued) 
26 business tax and surcharges 
for the six month period ended 
30 june 2006 30 june 2005 
business tax 2,687 2,406 
city maintenance and construction tax 176 158 
education surcharges 96 83 
others 28 23 
total 2,987 2,670 
27 impairment losses 
for the six month period ended 
30 june 2006 30 june 2005 
provision for loan losses 5,062 4,718 
(write-back of )/provision for impairment of 
foreclosed assets (131) 96 
(write-back of )/provision for impairment of 
other receivables (55) 206 
write-back of impairment of fixed assets 
and others - (444) 
total 4,876 4,576 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
39 
iii notes to the condensed consolidated financial statements (continued) 
28 income tax 
for the six month period ended 
30 june 2006 30 june 2005 
current tax 12,136 10,998 
deferred tax (note iii.13) 226 (138) 
total 12,362 10,860 
the income tax expense on the group’s profit before tax differs from the amount that would arise 
using the basic tax rate of the group, detailed as follows: 
for the six month period ended 
30 june 2006 30 june 2005 
profit before tax 34,013 29,578 
tax calculated at a tax rate of 33% 11,224 9,761 
effect of different tax rates in overseas operations (1,927) (1,479) 
supplementary tax on overseas income 
paid in the prc 1,688 865 
prior years tax expenses adjustment (1) (350) (2) 
income not subject to tax (1,223) (614) 
expenses not deductible for tax purposes (2) 2,921 2,452 
others 29 (123) 
total 12,362 10,860 
(1) p rior years tax expenses adjustment included the r elate d tax impact of rmb 2 84 million in relation to 
the deductible transfer loss of boc with the amount of rmb 860 million approved by mof and sat 
in the first half of 2006. the loss arose from the disposal of certain equity investments in prior years. 
(2) non-deductible expenses primarily include staff salary costs in excess of those permitted to be 
deducted under the relevant prc tax regulations. the group is currently in the process of applying 
for a revision to the statutory salary deductible threshold for its domestic employees from the prc 
state administration of taxation(“sat”). in accordance with guoshuihan[2006] no.484, “response 
letter on the bank of china limited salary deduction matter” issued by sat on 19 may 2006, it was 
agreed in principle that, after the overseas listing of the bank, the salary costs that are deductible for 
income tax purposes will be based on the performance of the bank. the details related to the 
implementation of such deductibility threshold have however not yet been determined and are 
subject to further approval of relevant prc government authorities and as a result, the effect of this 
has not been reflected in tax expense. the group will continue to follow up with the relevant prc 
government authorities regarding the detailed implementation plans of this approval in accordance 
with the relevant regulations and guidance. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
40 
iii notes to the condensed consolidated financial statements (continued) 
29 earnings per share (basic & diluted) 
b asic and diluted earnings per share have been computed by dividing the profit for the period by the 
weighted average number of ordinary shares issued. 
the bank has no dilutive potential ordinary shares. 
for the six month period ended 
30 june 2006 30 june 2005 
profit attributable to shareholders of the bank 19,024 16,434 
weighted average number of ordinary shares in 
issue (millions) 218,002 186,390 
basic and diluted earnings per share (renminbi per 
share) 0.09 0.09 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
41 
iii notes to the condensed consolidated financial statements (continued) 
30 notes to the cash flow statement 
cash and cash equivalents comprise the following balances, the original maturities of which are less 
than three months: 
as at 30 june 
2006 
as at 30 june 
2005 
cash 29,811 29,486 
balances with central banks 113,039 130,427 
due from and placement with banks and 
other financial institutions 215,713 230,894 
short term bills and notes 30,910 24,149 
total 389,473 414,956 
(1) reconciliation of net profit to cash flows from operating activities 
for the six month period ended 
30 june 2006 30 june 2005 
net profit 19,024 16,434 
plus/(minus): 
minority interest 2,627 2,284 
asset impairment losses 4,876 4,576 
depreciation of fixed assets 2,741 3,138 
amortisation of intangible assets and long-term 
deferred expenses 341 222 
net gain on disposal of fixed assets and other 
assets (168) (671) 
equity investments income (1,587) (125) 
interest expenses arising from bonds issued 1,384 1,178 
increase in operating receivables (495,834) (288,793) 
increase in operating payables 348,605 283,372 
net cash inflows from operating activities (117,991) 21,615 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
42 
iv notes to the bank’s financial statements 
1 debt securities 
as at 
30 june 2006 
as at 
31 december 2005 
debt securities available-for-sale 
(at fair value) 
government bonds 296,280 219,566 
public sector and quasi government 
bonds 242,068 102,200 
financial institution bonds 193,816 146,373 
corporate bonds 86,487 70,798 
sub-total 818,651 538,937 
debt securities available-for-sale 
(at fair value) 
government bonds 221,541 227,718 
public sector and quasi government 
bonds 91,308 103,074 
financial institution bonds 72,118 74,791 
corporate bonds 8,101 9,560 
sub-total 393,068 415,143 
debt securities classified as loans and receivables 
(at amortised cost) 
china orient bond 160,000 160,000 
pboc special bills 91,612 91,530 
special purpose treasury bond 42,500 42,500 
short term bills and notes 
- public sector and quasi government 15,260 5,992 
- financial institution 37,070 32,156 
- corporate 1,825 - 
certificate treasury bonds and 
others 10,647 11,888 
358,914 344,066 
provision for impairment (152) (156) 
sub-total 358,762 343,910 
total 1,570,481 1,297,990 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
43 
iv notes to the bank’s financial statements (continued) 
2 loans and advances to customers 
as at 
30 june 2006 
as at 
31 december 2005 
unsecured loans 511,086 401,756 
guaranteed loans 647,205 617,332 
collateralised and other secured loans 883,910 849,017 
total 2,042,201 1,868,105 
3 equity investments 
as at 
30 june 2006 
as at 
31 december 2005 
investment in subsidiaries 68,732 66,294 
investment in associates 33 63 
others 847 796 
69,612 67,153 
less: impairment provision (173) (202) 
69,439 66,951 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
44 
iv notes to the bank’s financial statements (continued) 
4 deposits from customers 
as at 
30 june 2006 
as at 
31 december 2005 
short-term corporate deposits 
corporate demand deposits 848,940 747,059 
corporate time deposits less than one year 429,253 380,105 
sub-total 1,278,193 1,127,164 
short-term saving deposits 
demand deposits 539,321 492,876 
time deposits less than one year 1,013,449 937,430 
sub-total 1,552,770 1,430,306 
long-term corporate deposits 31,095 24,395 
long-term saving deposits 332,287 305,239 
securities and margin deposits 162,628 122,083 
total 3,356,973 3,009,187 
the securities and margin deposits are analysed as follows: 
security deposits for bank acceptance 92,068 63,522 
security deposits for letters of credit and 
letters of guarantee issued 28,988 26,469 
margin deposits for foreign exchange transactions 5,767 3,718 
others 35,805 28,374 
total 162,628 122,083 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
45 
iv notes to the bank’s financial statements (continued) 
5 net interest income 
for the six month period ended 
30 june 2006 30 june 2005 
interest income 
loans and advances to customers 50,141 45,875 
debt securities 23,738 15,804 
due from and placements with banks and other 
financial institutions 3,457 2,327 
due from central banks 2,189 2,032 
sub-total 79,525 66,038 
interest expense 
deposits from customers (26,815) (19,427) 
due to and placements from banks and other financial 
institutions, due to central banks (4,090) (2,811) 
special purpose borrowings and bonds issued (2,292) (2,163) 
sub-total (33,197) (24,401) 
net interest income 46,328 41,637 
6 net fee and commission income 
for the six month period ended 
30 june 2006 30 june 2005 
settlement and clearing fees 1,374 964 
agency commissions 877 385 
credit commitment fees and commissions 1,148 996 
bank card fees 962 636 
custodian and other fiduciary service fees 113 110 
others 748 611 
fee and commission income 5,222 3,702 
fee and commission expenses (460) (673) 
net fee and commission income 4,762 3,029 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
46 
iv notes to the bank’s financial statements (continued) 
7 net trading (expense)/income 
for the six month period ended 
30 june 2006 30 june 2005 
net gains from foreign exchange and foreign exchange 
products 343 2,655 
net losses from interest rate instruments (625) (405) 
total (282) 2,250 
8 investment income 
for the six month period ended 
30 june 2006 30 june 2005 
equity investment 
share of result of subsidiaries 7,521 4,747 
net gains from investments in associates 5 3 
others 21 85 
sub-total 7,547 4,835 
debt investment 105 5 
total 7,652 4,840 
9 operating and administrative expenses 
for the six month period ended 
30 june 2006 30 june 2005 
staff costs 11,087 9,602 
general operating and administrative expenses 6,308 5,394 
depreciation 2,320 2,748 
total 19,715 17,744 
staff costs are analysed as follows: 
for the six month period ended 
30 june 2006 30 june 2005 
salaries and welfare expenses 8,159 7,546 
defined contribution plans 1,334 638 
housing fund contributions 611 427 
other social insurance costs 411 339 
defined benefit plans 139 238 
others 433 414 
total 11,087 9,602 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
47 
iv notes to the bank’s financial statements (continued) 
10 impairment losses 
for the six month period ended 
30 june 2006 30 june 2005 
provision for loan losses 5,849 6,092 
(write-back of)/provision for impairment of foreclosed 
assets (129) 96 
(write-back of)/provision for impairment of other 
receivables (32) 211 
write-back of impairment of fixed assets and others (8) (283) 
total 5,680 6,116 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
48 
iv notes to the bank’s financial statements (continued) 
11 notes to the cash flow statement 
cash and cash equivalents comprises the following balances, the original maturities of which are 
less than three months: 
as at 30 june 2006 as at 30 june 2005 
cash 26,684 26,242 
balances with central banks 89,018 103,122 
due from and placement with banks and other 
financial institutions 160,662 150,374 
short term bills and notes 27,686 21,492 
total 304,050 301,230 
(1) reconciliation of net profit to cash flows from operating activities 
for the six month period ended 
30 june 2006 30 june 2005 
net profit 19,643 16,434 
plus/(minus): 
asset impairment losses 5,680 6,116 
depreciation of fixed assets 2,320 2,748 
amortisation of intangible assets and long term 
deferred expenses 340 
221 
net gain on disposal of fixed assets and other 
assets 115 
(146) 
equity investments income (7,547) (4,835) 
interest expenses arising from bonds issued 1,384 1,178 
increase in operating receivables (433,206) (277,343) 
increase in operating payables 324,064 250,067 
net cash outflows from operating activities (87,207) (5,560) 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
49 
v related party transactions 
related parties are those parties that have the ability, directly or indirectly, to control the other party 
or exercise significant influence over the other party in making financial and operating decisions. 
parties are also considered to be related if they are subject to common control. the group is 
controlled by the state council of the people’s republic of china (“prc”) through huijin. 
(1) transactions with huijin 
(i) foreign currency option agreement 
on 5 january 2005, the bank entered into a foreign currency option agreement with huijin whereby 
the bank has acquired the option to sell to huijin usd 18 billion, of no more than usd1,500 million 
at the beginning of each calendar month during the year ending 31 december 2007 at the exchange 
rate of usd1 to rmb 8.2769. the related option premium amounted to rmb 4,469 million, which is 
payable by the bank to huijin in 12 equal monthly instalments at the beginning of each calendar 
month during the year ending 31 december 2007. 
(ii) deposit 
2006 2005 
at 1 january 38,869 - 
deposits received during the period/year 156,679 42,972 
deposits repaid and other changes during the 
period/year (173,709 ) (4,103) 
at 30 june / 31 december 21,839 38,869 
the deposits from huijin are under commercial terms and at market rates. 
(2) transactions with other companies controlled by huijin 
huijin also has controlling equity interests in certain other financial institutions in the prc. the 
group enters into banking transactions with these entities in the normal course of its business under 
commercial terms and at market rates. these include trading assets, investment securities and 
money market transactions. the group has no material balance with these entities as of 30 june, 
2006. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
50 
v related party transactions (continued) 
(3) transactions with shareholders holding 5% or more ordinary shares 
as at 30 june 2006, in addition to huijin, the shareholder holding 5% or more ordinary shares of the 
bank is rbs china inverstments s.à.r.l. the bank had no significant transactions with this 
shareholder between 1 january 2006 and 30 june 2006 and had no material balances with this 
shareholder as of 30 june 2006. 
(4) transactions with associates 
in the ordinary course of business, the group enters into business transactions with its 
associates(note iii.7), including lending, deposit taking, debt securities purchasing and other normal 
banking businesses. the transactions with these associates are conducted on the same pricing 
principles as for the transactions with any independent third party. the loans and deposits balances 
with associates and outstanding debt securities issued by associates at the period end are stated 
below. the related interest income and expense are not considered significant. 
(i) loans 
2006 2005 
at 1 january 7,240 1,246 
loans granted during the period/year 18 8,128 
loan repayments during the period/year (6,095) (989) 
loans written off and other changes during the 
period/year - (1,145) 
at 30 june/31 december 1,163 7,240 
provisions for loan losses (190) (119) 
(ii) deposits 
2006 2005 
at 1 january 856 1,227 
deposits received during the period/year 3,250 3,879 
deposits repaid and other changes during the 
period/year (1,959) (4,250) 
at 30 june/31 december 2,147 856 
(iii) debt securities issued by associates 
2006 2005 
at 1 january 188 - 
purchases during the period/year - 1,307 
redemption sales during the period/year (188) (1,123) 
fair value changes and others - 4 
at 30 june/31 december - 188 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
51 
vi segment reporting 
the group's businesses operate in three principal geographical areas: the chinese mainland, hong 
kong and macau, and other overseas locations. significant other overseas locations include new 
york, london, singapore and tokyo. 
the geographical analysis of revenues, segment results, segment assets, segment liabilities and 
capital expenditure reflects the process through which the group's operating activities are managed. 
in accordance with the group's organisational structure and its internal financial reporting process, 
the group has determined that geographical segments should be presented as its primary segment. 
profit and loss accounts, assets and liabilities, capital expenditure, depreciation and amortization and 
credit commitments have generally been based on the country in which the branch or subsidiary is 
located. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
52 
vi segment reporting (continued) 
for the six month period ended 30 june 2006 
hong kong & macau 
chinese 
mainland 
boc hong kong 
group others sub-total 
other overseas 
operations elimination total 
interest income 76,446 19,997 2,276 22,273 3,426 (2,368) 99,777 
interest expense (31,368) (12,235) (1,489) (13,724) (2,581) 2,372 (45,301) 
net interest income 45,078 7,762 787 8,549 845 4 54,476 
net fee and commission income 4,225 1,724 989 2,713 388 (485) 6,841 
net trading (expense)/income (107) 677 (536) 141 (227) - (193) 
investment (losses)/ gains 124 7 1,634 1,641 (6) (78) 1,681 
other operating income, net 129 423 1,271 1,694 (3) (23) 1,797 
49,449 10,593 4,145 14,738 997 (582) 64,602 
operating and administrative expenses (18,920) (2,973) (645) (3,618) (687) 32 (23,193) 
business tax and surcharges (2,945) (19) (10) (29) (13) - (2,987) 
operating profit 27,584 7,601 3,490 11,091 297 (550) 38,422 
n on-operating income, net 172 201 57 258 37 - 467 
profit before impairment losses 27,756 7,802 3,547 11,349 334 (550) 38,889 
impairment (losses)/ write-back (5,932) 717 218 935 121 - (4,876) 
profit before tax 21,824 8,519 3,765 12,284 455 (550) 34,013 
income tax (10,751) (1,430) (242) (1,672) (142) 203 (12,362) 
profit after tax 11,073 7,089 3,523 10,612 313 (347) 21,651 
minority interest (4) (2,519) (104) (2,623) - - (2,627) 
net profit 11,069 4,570 3,419 7,989 313 (347) 19,024 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
53 
vi segment reporting (continued) 
hong kong & macau 
as at 30 june 2006 
chinese 
mainland 
boc hong kong 
group others sub-total 
other overseas 
operations elimination total 
segment assets 4,268,205 875,352 118,363 993,715 199,169 (234,156) 5,226,933 
segment liabilities (3,917,105) (797,504) (99,538) (897,042) (191,882) 165,549 (4,840,480) 
credit commitments 827,712 173,457 18,334 191,791 57,397 (52,704) 1,024,196 
for the six month period ended 30 june 2006 
other segment items: 
capital expenditure 1,800 296 15 311 79 - 2,190 
depreciation and amortisation 2,618 317 92 409 55 - 3,082 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
54 
vi segment reporting (continued) 
for the six month period ended 30 june 2005 
hong kong & macau 
chinese 
mainland 
boc hong kong 
group others sub-total 
other overseas 
operations elimination total 
interest income 63,883 10,976 1,431 12,407 2,429 (1,253) 77,466 
interest expense (23,449) (4,477) (550) (5,027) (1,585) 1,253 (28,808) 
net interest income 40,434 6,499 881 7,380 844 - 48,658 
net fee and commission income 2,529 1,497 99 1,596 393 - 4,518 
net trading income/(expense) 2,241 520 247 767 (15) - 2,993 
investment (losses)/ gains 20 33 27 60 69 - 149 
other operating income, net 70 - 289 289 2 - 361 
45,294 8,549 1,543 10,092 1,293 - 56,679 
operating and administrative expenses (17,046) (2,778) (580) (3,358) (596) - (21,000) 
business tax and surcharges (2,636) (15) (9) (24) (10) - (2,670) 
- - - - - - operating profit 25,612 5,756 954 6,710 687 - 33,009- 
non-operating income, net 723- 251- 116- 367- 55- -- 1,145- 
profit before impairment losses 26,335- 6,007- 1,070- 7,077- 742- -- 34,154- 
impairment (losses)/ write-back (6,591-) 1,383- 422- 1,805- 210- -- (4,576-) 
profit before tax 19,744- 7,390- 1,492- 8,882- 952- -- 29,578- 
income tax (9,472-) (1,223)- (5-) (1,228-) (160- ) -- (10,860-) 
profit after tax 10,272- 6,167- 1,487- 7,654- 792- -- 18,718- 
minority interest 9- (2,174)- (119-) (2,293-) -- -- (2,284-) 
net profit 10,281- 3,993- 1,368- 5,361- 792- -- 16,434- 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
55 
vi segment reporting (continued) 
hong kong & macau 
as at 31 december 2005 
chinese 
mainland 
boc hong kong 
group others sub-total 
other overseas 
operations elimination total 
segment assets 3,803,989 845,959 120,266 966,225 186,982 (214,390) 4,742,806 
segment liabilities (3,584,086) (768,215) (102,831) (871,046) (178,853) 153,799 (4,480,186) 
credit commitments 699,066 168,203 14,131 182,334 52,434 (38,072) 895,762 
for the six month period ended 30 june 2005 
other segment items: 
capital expenditure 1,485 176 34 210 71 - 1,766 
depreciation and amortisation 2,947 305 53 358 55 - 3,360 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
56 
vi segment reporting (continued) 
business segments are presented as the group's secondary segment. the group provides services 
through four main business segments: commercial banking, investment banking, insurance and other 
operations. segment revenue, results, assets, liabilities and capital expenditure presented in 
business segments include items directly attributable to a segment as well as those that can be 
allocated on a reasonable basis. 
corporate banking - providing services to corporate customers including current accounts, deposits, 
overdrafts, lending, trade related products and other credit facilities, foreign currency and derivative 
products. 
personal banking - providing services to retail customers including current accounts, savings, 
deposits, investment savings products, custody, credit and debit cards, consumer loans and 
mortgages. 
treasury operations - consisting of foreign exchange transactions, customer-based interest rate and 
foreign exchange derivative transactions, money market transactions, proprietary trading and assetliability 
management. the results of this segment include the inter-segment funding income and 
expenses and foreign currency translation gains and losses resulting from variations in the growth of 
interest bearing assets and liabilities and foreign currency translation gains and losses. 
investment banking - consisting of debt and equity underwriting, asset management services, 
brokerage services and loan syndications. 
insurance-underwriting of general and life insurance business and insurance agency services. 
other operations of the group comprize investment holding and other miscellaneous activities, none 
of which constitutes a separately reportable segment or can be allocated on a reasonable basis. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
57 
vi segment reporting (continued) 
for the six month period ended 30 june 2006 and as at 30 june 2006 
corporate 
banking 
personal 
banking 
treasury 
operations 
investment 
banking 
insurance 
others 
elimination 
total 
interest income 45,329 42,491 38,551 289 269 191 (27,343) 99,777 
interest expense (18,727) (25,610) (27,175) (270) (19) (847) 27,347 (45,301) 
net interest income 26,602 16,881 11,376 19 250 (656) 4 54,476 
net fee and commission income 3,141 3,165 357 938 (277) 9 (492) 6,841 
net trading income/(expense) 1,814 977 (1,910) (640) (428) (7) 1 (193) 
investment (losses)/income - - 85 1,026 217 431 (78) 1,681 
other operating income, net 74 5 (3) - 686 1,103 (68) 1,797 
31,631 21,028 9,905 1,343 448 880 (633) 64,602 
operating and administrative expenses (8,588) (11,677) (2,876) (224) (103) (406) 681 (23,193) 
business tax and surcharges (1,478) (459) (1,023) (2) (3) (22) - (2,987) 
operating profit 21,565 8,892 6,006 1,117 342 452 48 38,422 
non-operating income, net 56 127 45 (2) 40 799 (598) 467 
profit before impairment losses 21,621 9,019 6,051 1,115 382 1,251 (550) 38,889 
impairment (losses)/ write-back (4,202) (720) 1 (5) 6 44 - (4,876) 
profit before tax 17,419 8,299 6,052 1,110 388 1,295 (550) 34,013 
income tax (12,362) 
profit after tax 21,651 
minority interests (2,627) 
net profit 19,024 
segment assets 1,813,042 637,280 2,692,140 18,079 17,153 84,279 (35,040) 5,226,933 
capital expenditure 416 782 31 6 2 953 - 2,190 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
58 
vi segment reporting (continued) 
1 seg ment information (continued) 
for the six month period ended 30 june 2005 and as at 31 december 2005 
corporate 
banking 
personal 
banking 
treasury 
operations 
investment 
banking 
insurance 
others 
elimination 
total 
interest income 39,592 31,510 24,679 243 183 128 (18,869) 77,466 
interest expense (13,848) (15,489) (17,623) (180) - (537) 18,869 (28,808) 
net interest income 25,744 16,021 7,056 63 183 (409) - 48,658 
net fee and commission income 2,522 1,802 215 171 (254) 62 - 4,518 
net trading income/(expense) 1,584 755 507 203 (48) (8) - 2,993 
investment (losses)/income - 1 24 (39) 17 146 - 149 
other operating income, net 29 - - - 331 43 (42) 361 
29,879 18,579 7,802 398 229 (166) (42) 56,679 
operating and administrative expenses (7,876) (10,148) (2,680) (195) (88) (301) 288 (21,000) 
business tax and surcharges (1,455) (436) (760) (2) (1) (16) - (2,670) 
operating profit 20,548 7,995 4,362 201 140 (483) 246 33,009 
non-operating income, net 107 215 71 1 (4) 1,001 (246) 1,145 
profit before impairment losses 20,655 8,210 4,433 202 136 518 - 34,154 
impairment (losses)/ write-back (5,471) 819 19 1 (2) 58 - (4,576) 
profit before tax 15,184 9,029 4,452 203 134 576 - 29,578 
income tax (10,860) 
profit after tax 18,718 
minority interests (2,284) 
net profit 16,434 
segment assets 1,658,718 603,891 2,399,377 15,159 12,398 77,644 (24,381) 4,742,806 
capital expenditure 342 665 32 4 25 698 - 1,766 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
59 
vi segment reporting (continued) 
1 seg ment information (continued) 
with effect from 1 january 2006, the internal funding transfer pricing mechanism of the bank was revised. the new pricing mechanism is based on the external 
market deposit and lending rates, adjusted for pre-determined margins with reference to the different products and respective maturities. previously, blended 
mid prices between the bank’s average cost of funding and average yield on interest bearing assets were adopted, without taking into consideration the variety 
of products and respective maturities. the reason for the change is primarily to better reflect the performance of the individual segments as part of the bank’s 
efforts to enhance its assets and liabilities management capability. 
the effect of the change in basis of pricing between business segments for the period ended 30 june 2005 is summarized below: 
for the six month period ended 30 june 2005 
corporate 
banking 
personal 
banking 
treasury 
operations 
investment 
banking 
insurance 
others elimination total 
net interest expense as reported previously 25,253 17,818 5,750 63 183 (409) - 48,658 
effect of change-increase/(decrease) 491 (1,797) 1,306 - - - - - 
net interest expense as revised 25,744 16,021 7,056 63 183 (409) - 48,658 
operating profits as reported previously 20,057 9,792 3,056 201 140 (483) 246 33,009 
effect of change-increase/(decrease) 491 (1,797) 1,306 - - - - - 
operating profits as revised 20,548 7,995 4,362 201 140 (483) 246 33,009 
porfit before impairment losses as reported 
previously 20,164 
10,007 
3,127 
202 
136 
518 
- 
34,154 
effect of change-increase/(decrease) 491 (1,797) 1,306 - - - - - 
porfit before impairment losses as revised 20,655 8,210 4,433 202 136 518 - 34,154 
profit before income tax as reported previouly 14,693 10,826 3,146 203 134 576 - 29,578 
effect of change-increase/(decrease) 491 (1,797) 1,306 - - - - - 
profit before income tax as revised 15,184 9,029 4,452 203 134 576 - 29,578 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
60 
[ 
vii assets and liabilities by currency 
the group’s net foreign currency positions as at 30 june 2006 and 31 december 2005 are analysed 
below: 
foreign currency position 
as at30 june 2006 as at 31 december 2005 
in rmb 
billion 
equivalent 
in usd 
billion 
equivalent 
in rmb 
billion 
equivalent 
in usd 
billion 
equivalent 
et on-balance sheet foreign currency position of 
the group 601 75 485 60 
less: 
et off-balance sheet foreign currency position of 
the group (232) (29) (171) (21) 
et foreign currency position of the group 369 46 314 39 
less: 
oreign currency denominated net investments in 
foreign operations* (103) (13) (105) (13) 
net position 266 33 209 26 
* the foreign currency denominated net investments in foreign operations represents the net 
assets/liabilities of overseas subsidiaries, branches or associated undertakings, the functional 
currencies of which are currencies other than rmb. the results and financial position of these 
operations are translated into rmb, for reporting purposes with all exchange differences arising from 
the translation recognised under the “currency translation difference” as a separate component of 
equity. these exchange differences therefore do not impact the consolidated profit or loss of the 
group. 
the group manages its sources and uses of foreign currencies to minimize potential currency 
mismatches. however, the group's ability to manage its foreign currency position in relation to the 
rmb is limited as rmb is not a freely convertible currency. according to the current applicable 
foreign currency policies of the prc government, the conversion of foreign currency is subject to 
application and approval by the relevant prc government authorities. the bank has significant 
foreign currency positions, largely as a result of the foreign currency capital contributions from certain 
shareholders, the foreign currency surplus arising from the bank’s foreign currency operations and 
related accumulated profits and losses. 
in 2005, the bank entered into a foreign currency option agreement with huijin having a notional 
amount of usd18 billion to economically hedge a portion of its net on-balance sheet foreign currency 
position. 
during the six month period ended 30 june 2006, the bank executed certain foreign exchange 
transactions to reduce its net foreign currency position by usd3.3 billion. 
subsequent to the balance sheet date in august 2006, the bank further effected certain foreign 
exchange transactions, further reducing its net foreign currency position by usd14.2 billion. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
61 
vii assets and liabilities by currency (continued) 
the following table illustrates the potential impact to the income statement for a 1 per cent fluctuation 
in the foreign currency exchange rate against rmb based on the net position of the group excluding 
the net structural position in foreign operations as set forth above: 
30 june 2006 31 december 2005 
profit / (loss) 
rmb million 
profit / (loss) 
rmb million 
1% appreciation/depreciation in foreign currency 
exchange rates against rmb 
+/- 2,660 +/- 2,090 
the above sensitivity analysis in response to potential movements in the foreign currency exchange 
rates against rmb is for illustrative purposes and only represents simple scenarios applied to the 
bank’s net outstanding foreign currency position as at the respective date. such analysis does not 
taken into account any further actions that may have been or could be taken by management after 
the balance sheet date, subject to the approval by the prc government, to mitigate the effect of 
exchange differences, nor for any consequential changes in the foreign currency positions. 
set forth below are assets, liabilities and off-balance sheet items by currency. short-term financial 
assets include cash, precious metals, due from central banks and government certificates of 
indebtedness for bank notes issued. debt securities also include trading and other debt securities at 
fair value through profit or loss. other assets primarily include interest receivable, fixed assets and 
deferred tax assets. short-term financial liabilities include due to central banks and bank notes in 
circulation. other liabilities primarily include interest payable. option products are included in net offbalance 
sheet position using notional amounts, including the foreign currency option agreement 
with huijin whereby the bank has acquired the option to sell to huijin usd 18 billion. the intent of the 
transaction was to create an effective economic hedge against a portion of the usd position arising 
from the usd capital contribution made by huijin. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
62 
vii assets and liabilities by currency (continued) 
as at 30 june 2006 rmb usd hkd euro jpy gbp other total 
assets 
short-term financial assets 315,390 17,258 43,422 1,943 25,201 445 43,546 447,205 
derivative financial instruments assets - 14,656 5,632 443 318 233 258 21,540 
due from and placements with banks and other 
financial institutions 102,399 76,394 75,885 15,983 3,291 5,310 20,852 300,114 
debt securities 914,491 767,457 177,587 51,526 20,552 6,649 50,009 1,988,271 
loans and advances to customers 1,643,896 362,362 315,887 38,557 25,062 4,419 15,353 2,405,536 
less: provision for loan losses (72,036) (11,457) (3,456) (531) (367) (40) (241) (88,128) 
other assets 89,134 20,056 33,558 1,377 1,829 722 5,719 152,395 
total assets 2,993,274 1,246,726 648,515 109,298 75,886 17,738 135,496 5,226,933 
liabilities 
short-term financial liabilities 7 25,367 39,182 - - - 2,090 66,646 
derivative financial instruments and liabilities at 
fair value through profit or loss - 77,290 22,176 1,031 143 263 269 101,172 
due to and placements from banks and other 
financial institutions 177,634 120,657 8,354 5,346 9,708 546 36,104 358,349 
deposits from customers 2,876,575 444,430 529,336 41,220 40,386 25,453 95,624 4,053,024 
special purpose borrowings and bonds issued 60,000 26,378 - 16,045 4,440 940 1,996 109,799 
other liabilities 93,410 21,889 31,429 1,462 1,082 729 1,489 151,490 
total liabilities 3,207,626 716,011 630,477 65,104 55,759 27,931 137,572 4,840,480 
net on-balance sheet position (214,352) 530,715 18,038 44,194 20,127 (10,193) (2,076) 386,453 
net off-balance sheet position 235,530 (264,170) 80,413 (49,256) (31,475) 17,014 15,520 3,576 
credit commitments 478,011 325,303 141,771 46,965 19,286 4,101 8,759 1,024,196 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
63 
vii assets and liabilities by currency (continued) 
as at 31 december 2005 rmb usd hkd euro jpy gbp other total 
assets 
short-term financial assets 290,571 17,463 50,536 2,244 17,105 421 33,145 411,485 
derivative financial instruments assets - 11,493 4,552 149 548 57 9 16,808 
due from and placements with banks and other 
financial institutions 
72,731 133,179 96,420 13,322 616 5,691 22,578 344,537 
debt securities 834,407 562,128 147,966 50,044 23,072 7,048 44,926 1,669,591 
loans and advances to customers 1,477,859 358,289 319,212 34,942 25,418 4,228 15,098 2,235,046 
less: provision for loan losses (66,477) (11,779) (3,485) (510) (552) (36) (314) (83,153) 
other assets 90,733 15,988 34,632 1,172 1,755 727 3,485 148,492 
total assets 2,699,824 1,086,761 649,833 101,363 67,962 18,136 118,927 4,742,806 
liabilities 
short-term financial liabilities 1,084 24,162 38,595 29 - 32 1,884 65,786 
derivative financial instruments and liabilities at 
fair value through profit or loss - 70,625 19,551 418 384 117 79 91,174 
due to and placements from banks and other 
financial institutions 
209,624 76,205 13,707 4,400 11,538 514 29,245 345,233 
deposits from customers 2,531,878 440,252 529,827 46,854 37,565 26,634 90,767 3,703,777 
special purpose borrowings and bonds issued 60,000 28,549 - 16,251 4,665 1,092 1,786 112,343 
other liabilities 119,401 17,220 20,679 1,525 1,138 527 1,383 161,873 
total liabilities 2,921,987 657,013 622,359 69,477 55,290 28,916 125,144 4,480,186 
net on-balance sheet position (222,163) 429,748 27,474 31,886 12,672 (10,780) (6,217) 262,620 
net off-balance sheet position 173,666 (229,776) 73,943 (29,586) (16,344) 15,331 15,197 2,431 
credit commitments 394,938 295,280 137,425 30,874 21,185 2,049 14,011 895,762 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
64 
viii assets and liabilities by maturity 
maturity grouping analysis of assets and liabilities items is as follows. short-term financial assets include cash, precious metals, due from central banks and 
government certificates of indebtedness for bank notes issued. debt securities also include trading and other debt securities at fair value through profit or 
loss. other assets primarily include interest receivable, fixed assets and deferred tax assets. short-term financial liabilities include due to central banks and 
bank notes in circulation. other liabilities primarily include interest payable. 
as at 30 june 2006 overdue on demand up to 1 month 1-3 months 3-12 months 1– 5years over 5 years total 
assets 
short-term financial assets - 219,593 226,583 1,029 - - - 447,205 
derivative financial instruments assets - 5,635 1,761 736 3,420 5,830 4,158 21,540 
due from and placements with banks and 
other financial institutions - 7,014 201,710 65,568 25,668 154 - 300,114 
debt securities - - 60,840 172,718 364,243 826,955 563,515 1,988,271 
loans and advances to customers 82,183 31,539 126,619 275,430 836,140 557,221 496,404 2,405,536 
less: provision for loan losses (42,189) (143) (3,565) (5,508) (15,214) (13,191) (8,318) (88,128) 
other assets 306 8,485 12,282 5,635 16,665 25,223 83,799 152,395 
total assets 40,300 272,123 626,230 515,608 1,230,922 1,402,192 1,139,558 5,226,933 
liabilities 
short-term financial liabilities - 44,056 6 5,036 17,548 - - 66,646 
derivative financial instruments and liabilities 
at fair value through profit or loss - 2,015 11,363 11,439 38,180 25,798 12,377 101,172 
due to and placements from banks and other 
financial institutions - 172,365 97,796 36,213 32,679 19,296 - 358,349 
deposits from customers - 1,722,814 595,693 396,276 1,020,310 316,578 1,353 4,053,024 
special purpose borrowings and bonds issued - - 874 736 5,368 20,088 82,733 109,799 
other liabilities 438 52,312 27,872 4,254 51,209 13,740 1,665 151,490 
total liabilities 438 1,993,562 733,604 453,954 1,165,294 395,500 98,128 4,840,480 
net liquidity gap 39,862 (1,721,439) (107,374) 61,654 65,628 1,006,692 1,041,430 386,453 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
65 
viii assets and liabilities by maturity (continued) 
as at 31 december 2005 overdue on demand up to 1 month 1-3 months 3-12 months 1–5 years over 5 years total 
assets 
short-term financial assets - 208,416 202,030 1,018 21 - - 411,485 
derivative financial instruments assets - 3,890 2,042 754 1,583 5,347 3,192 16,808 
due from and placements with banks and 
other financial institutions 
- 12,438 220,629 92,649 18,707 114 - 344,537 
debt securities - - 69,577 107,968 315,812 813,060 363,174 1,669,591 
loans and advances to customers 77,846 28,662 109,430 224,756 814,571 518,316 461,465 2,235,046 
less: provision for loan losses (37,696) (299) (1,881) (4,326) (19,121) (12,058) (7,772) (83,153) 
other assets 303 4,622 12,727 6,936 10,367 27,240 86,297 148,492 
total assets 40,453 257,729 614,554 429,755 1,141,940 1,352,019 906,356 4,742,806 
liabilities 
short-term financial liabilities - 65,237 529 20 - - - 65,786 
derivative financial instruments and liabilities 
at fair value through profit or loss - 1,805 9,124 9,300 22,995 38,091 9,859 91,174 
due to and placements from banks and other 
financial institutions 
- 137,560 79,351 47,365 48,126 32,831 - 345,233 
deposits from customers - 1,615,637 521,517 441,467 843,029 279,819 2,308 3,703,777 
special purpose borrowings and bonds issued - - 1,046 816 5,361 20,840 84,280 112,343 
other liabilities - 74,437 14,974 5,610 51,950 12,849 2,053 161,873 
total liabilities - 1,894,676 626,541 504,578 971,461 384,430 98,500 4,480,186 
net liquidity gap 40,453 (1,636,947) (11,987) (74,823) 170,479 967,589 807,856 262,620 
bank of china limited 
appendix i: net profit after deducting non-routine items 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
66 
ix contingent liabilities, commitments and other off-balance sheet items 
1 legal proceedings 
as at 30 june 2006, the group was the defendant in certain lawsuits arising from its normal business 
operations. management of the group believes that the outcome of these lawsuits will not have a 
material impact on the financial position of the group after consulting legal counsel. 
2 assets pledged 
assets pledged as collateral for repurchase, short positions and precious metals swaps agreements 
with other banks and financial institutions are set forth in the tables below. as at 30 june 2006, the 
group had repurchase agreements, short positions and precious metals swaps amounting to rmb 
78,597 million (2005: rmb 62,108 million). all such agreements mature within twelve months from 
inception. 
30 june 2006 31 december 2005 
precious metals 52 2,617 
bills (note iii. 6) 5,569 11,968 
debt securities (note iii. 5) 76,822 49,658 
total 82,443 64,243 
3 capital commitments 
the group has the following outstanding capital commitments not provided for in the accounts: 
30 june 2006 31 december 2005 
authorised and contracted for but not recorded 2,152 1,893 
authorised but not contracted for 2,257 2,687 
total 4,409 4,580 
the above capital commitments are related to commitments to purchase building and equipment. 
the group’s management is confident that future revenues and funding available will be sufficient to 
meet these capital commitments. however the group’s management have no obligation to incur the 
costs in respect of the balance of the authorised but not contracted for amounts. 

bank of china limited 
appendix i: net profit after deducting non-routine items 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
67 
ix 
contingent liabilities, commitments and other off-balance sheet items 
(continued) 
4 operating leases 
under the group’s irrevocable operating lease contracts, the minimum rental payments that should 
be paid in the future are summarised as: 
30 june 2006 31 december 2005 
within one year 1,401 1,371 
one to two years 1,159 1,085 
two to three years 851 807 
above three years 2,566 2,546 
total 5,977 5,809 
5 certificate treasury bond redemption commitments 
the bank is entrusted by the mof to issue certain certificate treasury bonds. the investors of 
certificate treasury bonds have a right to redeem the bonds at par any time prior to maturity and the 
bank is committed to redeem those bonds. the redemption price is the principal value of the 
certificate treasury bonds plus unpaid interest. as at 30 june 2006, the bank’s redemption 
commitments, representing the principal value of the bonds underwritten and sold by the bank, 
amounted to rmb 84,056 million (2005: rmb 80,965 million). the original maturities of these bonds 
vary from 1 to 5 years. as the deposits base rate established by the pboc is currently lower than the 
yields on all issues of certificate treasury bonds, management expects the amount of redemption 
before the maturity dates of those bonds through the bank will not be material. 
6 major off-balance sheet exposures 
30 june 2006 31 december 2005 
acceptances 230,434 195,234 
letters of guarantee issued 255,779 212,987 
letters of credit issued 115,686 101,195 
irrevocable credit commitments and others 422,297 386,346 
total 1,024,196 895,762 

bank of china limited 
appendix i: net profit after deducting non-routine items 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
68 
x events after the balance sheet date 
subsequent to the balance sheet date in august 2006, the bank entered into certain foreign currency 
transactions to reduce its net foreign currency position by usd14.2 billion (note vii). 

bank of china limited 
appendix i: net profit after deducting non-routine items 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
69 
in accordance with the requirements “question & answer no.1 concerning disclosure convention 
for companies offering shares to the public—non-routine profit/loss(revised 2004)”, the group’s net 
profit before and after deducting non-routine items is as follows: 
for the six month 
period ended 
30 june 2006 
unaudited 
net profit 19,024 
add / (less): non-routine items 
– net gain on disposal of long-term equity investments (141) 
– non-operating income (1) (1,111) 
– non-operating expense (2) 644 
– write-back of the impairments recognised in previous years (3) (451) 
income tax impact of non-routine items 349 
net profit after deducting the non-routine items 18,314 
(1) non-operating income refer to income which are not directly attributable to business operating 
activities, including net gains from disposal of fixed assets, gains from fixed assets stocktake, 
penalty charge income, gains from closing of dormant accounts and etc. 
(2) non-operating expense refers to expenses which are not directly attributable to business operating 
activities, including net losses on disposal of fixed assets, penalty charge expenses, donation, nonroutine 
losses and etc. 
(3) write-back of prior year provision for asset impairment mainly consists of write-back of provision for 
other receivables and advances. 

bank of china limited 
appendix ii: reconciliation between prc gaap and ifrs financial information 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
70 
the group’s consolidated balance sheet, consolidated income statement prepared under the 
international financial reporting standards(“ifrs”) and the reconciliation between prc gaap and 
ifrs financial information are set out below: 
1 consolidated income statements 
for the six month period 
ended 30 june 
2006 2005 
unaudited unaudited 
interest income 100,124 77,616 
interest expense (45,301) (28,808) 
net interest income 54,823 48,808 
fee and commission income 8,166 5,915 
fee and commission expense (1,325) (1,397) 
net fee and commission income 6,841 4,518 
net trading income 557 2,795 
net (losses)/gains on investment securities 64 20 
other operating income 7,218 5,229 
impairment losses on loans and advances (5,479) (4,966) 
other operating expenses (29,686) (27,721) 
operating profit 34,338 28,683 
share of results of associates 371 48 
profit before income tax 34,709 28,731 
income tax expense (12,458) (10,957) 
profit for the period 22,251 17,774 
attributable to: 
equity holders of the bank 19,477 15,181 
minority interest 2,774 2,593 
22,251 17,774 
earnings per share for profit attributable to the 
equity holders of the bank during the period 
(renminbi per ordinary share) 
- basic and diluted 0.09 0.08 
bank of china limited 
appendix ii: reconciliation between prc gaap and ifrs financial information 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
71 
2 consolidated balance sheet 
30 june 2006 31 december 2005 
unaudited audited 
assets 
cash and due from banks 36,785 41,082 
balances with central banks 340,651 316,941 
placements with banks and other financial 
institutions 293,140 332,099 
government certificates of indebtedness for bank 
notes issued 36,094 35,586 
precious metals 39,259 26,974 
trading assets and other financial instruments at 
fair value through profit or loss 114,167 111,782 
derivative financial instruments 21,540 16,808 
loans and advances to customers, net 2,317,625 2,152,112 
investment securities 
- available-for-sale 929,894 602,221 
- held-to-maturity 569,126 607,459 
- loans and receivables 389,368 361,851 
investment in associates 5,675 5,061 
property and equipment 62,238 62,417 
investment property 8,612 8,511 
deferred income tax assets 23,431 20,504 
other assets 44,030 38,640 
total assets 5,231,635 4,740,048 

bank of china limited 
appendix ii: reconciliation between prc gaap and ifrs financial information 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
72 
2 consolidated balance sheet (continued) 
30 june 2006 31 december 2005 
unaudited audited 
liabilities 
due to banks 171,422 134,217 
due to central banks 30,495 30,055 
bank notes in circulation 36,151 35,731 
certificates of deposits and placements from 
banks and other financial institutions 190,880 212,626 
derivative financial instruments and liabilities at 
fair value through profit or loss 101,172 91,174 
due to customers 4,048,438 3,699,464 
bonds issued 60,177 60,179 
special purpose borrowings 49,622 52,164 
current tax liabilities 20,637 23,459 
retirement benefit obligations 6,933 7,052 
deferred income tax liabilities 2,053 2,136 
other liabilities 128,573 136,272 
total liabilities 4,846,553 4,484,529 
equity 
capital and reserves attributable to equity 
holders of the bank 
share capital 253,839 209,427 
capital reserve 66,613 (5,954) 
statutory reserves 8,095 5,987 
general and regulatory reserves 9,398 5,109 
undistributed profits 21,893 10,188 
reserve for fair value changes of available-forsale 
securities (3,603) 1,899 
currency translation differences (488) (237) 
355,747 226,419 
minority interest 29,335 29,100 
total equity 385,082 255,519 
total equity and liabilities 5,231,635 4,740,048 
bank of china limited 
appendix ii: reconciliation between prc gaap and ifrs financial information 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
73 
3 reconciliation between prc gaap and ifrs financial information 
net assets 
as at 
net profit 
for the six month 
period ended 30 june 
30 
june 
2006 
31 
december 
2005 
2006 2005 
prc gaap figures 357,641 233,842 19,024 16,434 
adjustments for accounting standard 
differences: 
-reversal of revaluation surplus and 
corresponding depreciation (1) (7,794) (7,999) 205 133 
-fair value measurement on investment 
properties (2) 3,199 2,816 438 1,059 
-equity securities classified as available-forsale 
financial assets and stated at fair 
value(3) 3,566 1,775 - - 
- early retirement benefit obligation (4) (4,911) (5,097) 186 (1,749) 
-cost method applied on precious metals (5) (757) (637) (120) (83) 
-deferred tax impact (6) 4,222 992 (97) (97) 
-minority interests effect and others 581 727 (159) (516) 
sub-total (1,894) (7,423) 453 (1,253) 
ifrs figures 355,747 226,419 19,477 15,181 
(1) reversal of revaluation surplus and corresponding depreciation 
under prc gaap, the bank recorded an asset revaluation adjustment of rmb 10,432 million as of 
31 december 2003, related principally to property and equipment, in connection with the joint stock 
reform plan. the revalued property and equipment will be amortised over their remaining useful 
lives. according to ias 16 property, plant and equipment, once an entity has chosen the cost model 
as its accounting policy, it shall apply the policy to an entire class of property, and shall not be 
permitted to measure these fixed assets at fair value. hence, the asset revaluation surplus and 
corresponding depreciation recognized under prc gaap, should be reversed under ifrs. 

bank of china limited 
appendix ii: reconciliation between prc gaap and ifrs financial information 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
74 
3 reconciliation between prc gaap and ifrs (continued) 
(2) fair value measurement on investment properties 
under prc gaap, investment properties as fixed assets are measured at cost after deducting 
accumulated depreciation and impairment losses. according to ias 40 investment property, 
investment properties are measured at fair value at the balance sheet date by the group. 
(3) equity securities classified as available-for-sale financial assets and stated at fair value 
under prc gaap, equity securities are accounted for at cost after deducting impairment losses. 
according to ias 39 financial instruments: recognition and measurement, these securities have 
been classified as available-for-sale and are stated at fair value. 
(4) early retirement benefit obligation 
according to mof requirement, the early retirement benefit expenditures during the early retirement 
period (from early retirement date to legal retirement date) to those employees who accepted an 
early retirement arrangement is recognized on a cash basis by the group. according to ias 19 
employee benefits, the early retirement benefit at the balance sheet date should be recorded based 
on the present value of future payment obligation after adjusting for actuarial gain or loss and past 
servicing cost. 
(5) cost method applied on precious metals 
according to accounting practice of prc banking industry, all precious metals are initially 
recognized at cost and subsequently re-measured at fair value at the balance sheet date by the 
bank. according to ias 2 inventories, precious metals that are not related to the group’s precious 
metals trading activities are carried at cost. 
(6) deffered tax impact 
under ifrs, deferred income tax is provided using the balance sheet liability method, on temporary 
differences arising between the tax bases of assets and liabilities and their carrying amounts in the 
consolidated financial statements. under prc gaap, deferred income tax is provided using the 
liability method, on timing differences between the group’s taxable profits and its results as stated in 
the financial statements that arise from the inclusion of gains and losses in tax assessments in 
periods different from those in which they are recognised in the financial statements. 
the difference between prc gaap and ifrs in 2006 mainly represents the deferred income tax 
credited or charged directly to equity under ifrs relating to the fair value re-measurement of 
available-for-sale investments charged or credited directly to equity. 

中国银行股份有限公司 
2006 年 1 月 1 日至 6 月 30 日止期间 
简要会计报表及审阅报告(未经审计) 

中国银行股份有限公司 
2006 年 1 月 1 日至 6 月 30 日止期间简要会计报表及审阅报告 
内容 页码 
审阅报告 1 
简要会计报表 
资产负债表 2-3 
利润表 4 
股东权益变动表 5-7 
现金流量表 8-9 
简要会计报表注释 10-65 
附件一 66 
附件二 67-71 

普华永道中天会计师事务所有限公司 
普华永道中心 11 楼 
湖滨路 202 号 
上海 200021 
中华人民共和国 
电话 +86 (21) 6123 8888 
传真 +86 (21) 6123 8800 
审阅报告 
普华永道中天特审字(2006)第 302 号 
中国银行股份有限公司全体股东： 
我们审阅了后附的中国银行股份有限公司(以下简称“贵行”)及其子公司(以下简称 
“贵集团”)2006 年 6 月 30 日的资产负债表和合并资产负债表、2006 年 1 月 1 日 
至 2006 年 6 月 30 日止期间的利润表和合并利润表及现金流量表和合并现金流量表 
及其注释(“简要会计报表”)。这些简要会计报表的编制是贵行管理当局的责任， 
我们的责任是在实施审阅工作的基础上出具审阅报告。 
我们按照《独立审计实务公告第 10 号－会计报表审阅》计划和实施审阅工作。我 
们对上述简要会计报表的审阅主要运用查询和分析性程序,因而所提供之保证程度 
低于审计。由于我们并没有实施审计工作，因此不对上述简要会计报表发表审计意 
见。 
根据我们的审阅，我们未发现上述简要会计报表在所有重大方面存在违反国家颁布 
的企业会计准则和《金融企业会计制度》及其他相关规定的情况。 
普华永道中天 
会计师事务所有限公司 
注册会计师 
中国·上海市 注册会计师 
2006 年 8 月 29 日 

中国银行股份有限公司 
2006年6月30日资产负债表 
(除特别注明外，金额单位为人民币百万元) 
2 
中国银行集团 中国银行 
资产 注释 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
未经审计 经审计 未经审计 经审计 
现金 29,811 28,644 26,684 25,144 
贵金属 40,649 30,314 39,003 28,577 
存放中央银行 三、1 340,651 316,941 314,986 284,373 
存出发钞基金 36,094 35,586 1,650 1,641 
交易性及其他公允价值变动 
计入损益的债券 三、2 110,602 107,271 81,224 82,082 
衍生金融产品资产 三、3 21,540 16,808 15,136 11,329 
存放及拆放同业 三、4 300,114 344,537 223,651 256,786 
债券投资 三、5；四、1 1,877,669 1,562,320 1,570,481 1,297,990 
贷款 三、6；四、2 2,405,536 2,235,046 2,042,201 1,868,105 
减：贷款损失准备 (88,128) (83,153) (84,753) (79,581) 
应收利息 23,187 20,408 18,726 16,107 
股权投资 三、7；四、3 14,775 15,393 69,439 66,951 
固定资产 71,208 72,978 52,169 53,392 
在建工程 3,940 3,342 3,933 3,331 
递延税款借项 三、13 17,410 17,561 17,298 17,428 
其他资产 21,875 18,810 11,076 10,384 
资产总计 5,226,933 4,742,806 4,402,904 3,944,039 

中国银行股份有限公司 
2006年6月30日资产负债表(续) 
(除特别注明外，金额单位为人民币百万元) 
3 
中国银行集团 中国银行 
负债 注释 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
2006 年 
6 月 30 日 
2005 年 
12 月 31 日 
未经审计 经审计 未经审计 经审计 
对中央银行负债 三、8 30,495 30,055 30,470 30,030 
发行货币债务 36,151 35,731 1,708 1,786 
衍生金融产品及公允价值变 
动计入损益的负债 三、9 101,172 91,174 80,777 76,323 
同业存入及拆入 358,349 345,233 350,337 343,574 
客户存款 三、10；四、4 4,053,024 3,703,777 3,356,973 3,009,187 
应付利息 31,485 27,024 29,559 25,291 
借入专项资金 三、11 49,622 52,164 49,622 52,164 
发行债券 三、12 60,177 60,179 60,177 60,179 
递延税款贷项 三、13 254 184 22 22 
其他负债 三、14 119,751 134,665 85,618 111,641 
负债合计 4,840,480 4,480,186 4,045,263 3,710,197 
少数股东权益 三、16 28,812 28,778 - - 
股东权益 
股本 三、17 253,839 209,427 253,839 209,427 
资本公积 三、18 76,545 3,978 75,888 3,978 
盈余公积 三、19 8,095 5,987 8,095 5,987 
一般准备及法定储备金 三、19 9,398 5,109 9,398 5,109 
未分配利润 三、19 23,837 12,585 24,494 12,585 
可供出售债券公允价值变动 
储备 三、19 (11,954) (1,380) (11,954) (1,380) 
外币报表折算差额 (2,119) (1,864) (2,119) (1,864) 
股东权益合计 357,641 233,842 357,641 233,842 
负债和股东权益总计 5,226,933 4,742,806 4,402,904 3,944,039 
后附会计报表注释为本会计报表的组成部分。 
法定代表人、董事长： 主管财会工作副行长： 
副董事长、行长： 财会部总经理： 
中国银行股份有限公司 
2006年1月1日至6月30日止期间利润表 
(除特别注明外，金额单位为人民币百万元) 
4 
中国银行集团 中国银行 
注释 
2006 年 
1-6 月 
2005 年 
1-6 月 
2006 年 
1-6 月 
2005 年 
1-6 月 
未经审计 未经审计 未经审计 未经审计 
利息收入 三、20；四、5 99,777 77,466 79,525 66,038 
利息支出 三、20；四、5 (45,301) (28,808) (33,197) (24,401) 
净利息收入 54,476 48,658 46,328 41,637 
手续费及佣金收支净额 三、21；四、6 6,841 4,518 4,762 3,029 
净交易(损失)/收入 三、22；四、7 (193) 2,993 (282) 2,250 
投资收益 三、23；四、8 1,681 149 7,652 4,840 
其他业务收支净额 三、24 1,797 361 245 12 
64,602 56,679 58,705 51,768 
业务及管理费 三、25；四、9 (23,193) (21,000) (19,715) (17,744) 
营业税金及附加 三、26 (2,987) (2,670) (2,952) (2,650) 
营业利润 38,422 33,009 36,038 31,374 
营业外收支净额 467 1,145 222 777 
扣除资产减值损失前利润总额 38,889 34,154 36,260 32,151 
资产减值损失 三、27；四、10 (4,876) (4,576) (5,680) (6,116) 
利润总额 34,013 29,578 30,580 26,035 
所得税 三、28 (12,362) (10,860) (10,937) (9,601) 
税后利润 21,651 18,718 19,643 16,434 
少数股东应享本期利润 (2,627) (2,284) - - 
净利润 19,024 16,434 19,643 16,434 
可供分配给本行股东的每股净收益 
（以元/股表示） 三、29 
— 每股基本净收益 0.09 0.09 
— 稀释后每股净收益 0.09 0.09 
后附会计报表注释为本会计报表的组成部分。 
法定代表人、董事长： 主管财会工作副行长： 
副董事长、行长： 财会部总经理： 
中国银行股份有限公司 
2006年1月1日至6月30日止期间股东权益变动表 
(除特别注明外，金额单位为人民币百万元) 
5 
未经审计 
中国银行集团 
注释 股本 资本公积 盈余公积 
一般准备及 
法定储备金 
未分配利润 
可供出售债券公 
允价值变动储备 
外币报表 
折算差额 合计 
2006 年 1 月 1 日余额 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
本期净利润 - - - - 19,024 - - 19,024 
发行普通股 三、17；三、18 44,412 72,567 - - - - - 116,979 
提取盈余公积 三、19 - - 2,108 - (2,108) - - - 
提取一般准备及法定储备金 三、19 - - - 4,291 (4,291) - - - 
可供出售债券储备净变动 三、19 - - - - - (10,574) - (10,574) 
分配股利 三、19 - - - - (1,375) - - (1,375) 
外币报表折算差额 - - - - - - (255) (255) 
其他 - - - (2) 2 - - - 
2006 年 6 月 30 日余额 253,839 76,545 8,095 9,398 23,837 (11,954) (2,119) 357,641 
后附会计报表注释为本会计报表的组成部分。 
法定代表人、董事长： 主管财会工作副行长： 
副董事长、行长： 财会部总经理： 

中国银行股份有限公司 
2006年1月1日至6月30日止期间股东权益变动表 
(除特别注明外，金额单位为人民币百万元) 
6 
未经审计 
中国银行 
注释 股本 资本公积 盈余公积 
一般准备及 
法定储备金 
未分配利润 
可供出售债券公 
允价值变动储备 
外币报表 
折算差额 合计 
2006 年 1 月 1 日余额 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
本期净利润 - - - - 19,643 - - 19,643 
发行普通股 三、17；三、18 44,412 72,219 - - - - - 116,631 
提取盈余公积 三、19 - - 2,108 - (2,108) - - - 
提取一般准备及法定储备金 三、19 - - - 4,291 (4,291) - - - 
可供出售债券储备净变动 三、19 - - - - (10,574) - (10,574) 
分配股利 三、19 - - - - (1,375) - - (1,375) 
外币报表折算差额 - - - - - - (255) (255) 
其他 三、18 - (309) - (2) 40 - - (271) 
2006 年 6 月 30 日余额 253,839 75,888 8,095 9,398 24,494 (11,954) (2,119) 357,641 
后附会计报表注释为本会计报表的组成部分。 
法定代表人、董事长： 主管财会工作副行长： 
副董事长、行长： 财会部总经理： 
中国银行股份有限公司 
2005年1月1日至12月31日止期间股东权益变动表 
(除特别注明外，金额单位为人民币百万元) 
7 
未经审计 
中国银行集团及中国银行 
注释 股本 资本公积 盈余公积 
一般准备及子公 
司法定储备金 
未分配利润 
可供出售债券公允 
价值变动储备 
外币 
折算差额 合计 
2005 年 1 月 1 日余额 186,390 - 3,140 419 17,373 (2,315) 344 205,351 
本期净利润 - - - - 16,434 - - 16,434 
本期提取 - - 75 2,480 (2,555) - - - 
可供出售债券储备净变动 - - - - - 3,349 - 3,349 
外币报表折算差额 - - - - - - (354) (354) 
2005 年 6 月 30 日余额 186,390 - 3,215 2,899 31,252 1,034 (10) 224,780 
本期净利润 - - - - 11,058 - - 11,058 
发行普通股 三、17 23,037 3,964 - - - - - 27,001 
本期提取 三、19 - - 2,772 2,210 (4,982) - - - 
可供出售债券储备净变动 三、19 - - - - - (2,414) - (2,414) 
分配股利 三、19 - - - - (26,937) - - (26,937) 
联营企业权益法核算累积影响 - - - - 2,194 - - 2,194 
外币报表折算差额 - - - - - - (1,854) (1,854) 
其他 - 14 - - - - - 14 
2005 年 12 月 31 日余额 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
后附会计报表注释为本会计报表的组成部分。 
法定代表人、董事长： 主管财会工作副行长： 
副董事长、行长： 财会部总经理： 
中国银行股份有限公司 
2006年1月1日至6月30日止期间现金流量表 
(除特别注明外，金额单位为人民币百万元) 
8 
注释 中国银行集团 中国银行 
2006 年 
1-6 月 
2005 年 
1-6 月 
2006 年 
1-6 月 
2005 年 
1-6 月 
未经审计 未经审计 未经审计 未经审计 
经营活动产生的现金流量 
收取的利息 96,998 75,995 76,906 64,952 
收取的手续费 7,505 5,919 5,218 3,701 
收回已核销贷款 986 1,823 250 607 
客户存款净增加额 349,247 246,881 347,786 248,163 
存放及拆放同业净减少额 15,392 58,072 39,448 17,039 
同业存入及拆入净增加额 13,116 45,141 6,763 20,378 
其他与经营活动有关的项目变动净额 (2,811) 392 (18,114) (10,686) 
现金流入小计 480,433 434,223 458,257 344,154 
支付的存款及同业往来利息 (39,461) (24,782) (27,550) (20,572) 
支付的手续费 (1,325) (1,397) (460) (673) 
支付给员工及为员工支付的现金 (13,670) (11,289) (11,139) (9,290) 
支付的业务管理费及其他 (7,322) (6,450) (6,399) (5,397) 
支付的所得税款 (15,279) (13,331) (14,681) (12,859) 
支付的营业税及其他税款 (3,421) (2,763) (3,387) (2,738) 
贷款净增加额 (171,476) (140,154) (175,023) (111,643) 
债券投资净增加额 (315,213) (174,485) (269,766) (148,567) 
存放中央银行净增加额 (18,820) (24,116) (24,531) (24,119) 
贵金属净(增加)/减少额 (10,335) 4,832 (10,426) 4,816 
对中央银行负债净增加/(减少)额 440 (9,777) 440 (9,776) 
借入专项资金净减少额 (2,542) (8,896) (2,542) (8,896) 
现金流出小计 (598,424) (412,608) (545,464) (349,714) 
经营活动产生的现金流量净额 
三、30； 
四、11 (117,991) 21,615 (87,207) (5,560) 

中国银行股份有限公司 
2006年1月1日至6月30日止期间现金流量表(续) 
(除特别注明外，金额单位为人民币百万元) 
9 
注释 中国银行集团 中国银行 
2006 年 
1-6 月 
2005 年 
1-6 月 
2006 年 
1-6 月 
2005 年 
1-6 月 
未经审计 未经审计 未经审计 未经审计 
投资活动产生的现金流量 
处置固定资产和其他资产所收到的现金 625 1,651 73 690 
处置股权投资所收到的现金 609 660 69 267 
分得股利或利润所收到的现金 20 36 3,894 3,340 
现金流入小计 1,254 2,347 4,036 4,297 
购建固定资产和其他资产所支付的现金 (2,190) (1,766) (1,730) (1,556) 
增加股权投资所支付的现金 (270) (1,506) (447) (49) 
现金流出小计 (2,460) (3,272) (2,177) (1,605) 
投资活动产生的现金流量净额 (1,206) (925) 1,859 2,692 
筹资活动产生的现金流量 
吸收权益性投资所收到的现金 117,423 - 116,766 - 
发行次级债券所收到的现金 - 33,930 - 33,930 
吸收少数股东权益性投资所收到的现金 86 5 - - 
现金流入小计 117,509 33,935 116,766 33,930 
偿还发行债券利息所支付的现金 (1,379) (15) (1,379) (15) 
分配股利所支付的现金 (3,266) (1,637) (1,375) - 
支付其他与筹资活动有关的现金 (238) - (238) - 
现金流出小计 (4,883) (1,652) (2,992) (15) 
筹资活动产生的现金流量净额 112,626 32,283 113,774 33,915 
汇率变动对现金流量的影响额 (1,068) (4,159) 1 (4,032) 
现金及现金等价物净(减少)/增加额 (7,639) 48,814 28,427 27,015 
现金及现金等价物－期初余额 397,112 366,142 275,623 274,215 
现金及现金等价物－期末余额 
三、30； 
四、11 389,473 414,956 304,050 301,230 
后附会计报表注释为本会计报表的组成部分。 
法定代表人、董事长： 主管财会工作副行长： 
副董事长、行长： 财会部总经理： 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
10 
一 会计报表编制及合并基础 
1 会计报表编制基础 
本会计报表按照中华人民共和国财政部（以下简称“财政部”）颁布的企业会计准则、《金融 
企业会计制度》及其相关规定编制，本中期报告应与本集团 2005 年度会计报表一并阅读。 
本中期会计报表根据财政部颁布的《企业会计准则-中期财务报告》和证监会颁布的《公开发 
行证券的公司信息披露内容与格式准则第 3 号-半年度报告的内容与格式》（2003 年修订）编 
制。 
本中期报告所采用的会计政策与编制 2005 年度报告所采用的会计政策相一致。 
2006 年 2 月，财政部发布了 39 项与国际财务报告准则趋同的企业会计准则，并要求自 2007 
年 1 月 1 日起首先在上市公司施行。本集团正在研究和详细评估该等准则体系对本集团现行 
会计政策的具体影响，并计划自 2007 年 1 月 1 日起在本集团施行该等会计准则。本集团管 
理层预期实施新发布的企业会计准则，将在以下主要方面对本集团未来年度的财务状况和经 
营成果产生影响： 
(1) 在现行中国会计准则下，股权投资按照其购买成本确认，并计提减值准备。根据新颁布的企 
业会计准则，除对子公司、联营企业及交易性股权投资以外的其他股权投资将被分类至可供 
出售证券。本集团管理层计划按新颁布的企业会计准则要求，将上述其他股权投资分类为可 
供出售证券。其中，对存在活跃市场报价的股权投资按公允价值计量，其公允价值变动确认 
在权益表中。 
(2) 在现行中国会计准则下，投资物业按历史成本扣除累计折旧及减值准备计量。根据新颁布的 
中国会计准则，投资物业可根据管理层的决定采用公允价值或历史成本扣除累计折旧及减值 
准备的方法计量，此方法一经选定不可随意更改。本集团管理层计划采用公允价值方法对投 
资物业进行计量。 
(3) 在现行会计法规下，为内退离职员工支付的在内退期间的退休福利采用现金收付制核算。根 
据新颁布的企业会计准则，当银行对内退离职人员存在未来支付福利的安排时，银行应在其 
内退时确认相应负债。该负债在资产负债表日反映银行未来支付福利的精算现值，且其变动 
在利润表中确认。 
(4) 在现行中国会计准则下，在母公司的会计报表中，对子公司的股权投资采用权益法进行核 
算。根据新颁布的企业会计准则，该等股权投资在母公司的会计报表中将采用成本法进行核 
算。 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
11 
一 会计报表编制及合并基础(续) 
2 会计报表合并基础 
合并会计报表的范围包括本行及纳入合并范围的子公司。本行重大控股子公司名单，见注释 
二、控股子公司。 
本行从取得子公司的实际控制权之日起开始将其予以合并；从丧失实际控制权之日起停止合 
并。本集团内部所有重大往来余额、交易及未实现损益已在合并会计报表编制时予以抵销。 
合并子公司的其他投资者对子公司净资产享有的权益，作为少数股东权益在合并会计报表中 
单独列示。 
如有需要，在编制合并会计报表时，本行对子公司的会计政策进行调整以确保其与本行所采 
用的会计政策相一致。 
3 分部报告 
业务分部是指由一组资产和经营活动组成的与其他业务分部中的资产和经营活动面临不同的 
风险及收益的特定组成部分。地区分部是指本集团在特定的区域经济环境下提供产品或服 
务，并且承担着不同于在其他区域经济环境下经营的风险和报酬的特定组合。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
12 
二 控股子公司 
本行主要控股子公司于 2006 年 6 月 30 日的基本情况如下。下列主要子公司均已纳入合并范 
围。所有的投资皆为本行持有的普通股。 
公司名称 注册/成立地点 出资/控股比例 注册资本/实收资本 主要业务 
(%) 
直接控股 
中银香港(集团)有限公司 中国香港 100.00 港币 34,806 百万 控股公司业务 
中银国际控股有限公司 中国香港 100.00 港币 3,539 百万 投资银行业务 
中银集团保险有限公司 中国香港 100.00 港币 1,269 百万 保险业务 
中银集团投资有限公司 中国香港 100.00 港币 200 百万 实业投资及其他 
澳门大丰银行有限公司 中国澳门 50.31 澳门元 1,000 百万 全面银行业务 
间接控股 
中银香港(控股)有限公司 (1) 中国香港 65.87 港币 52,864 百万 控股公司业务 
中国银行(香港)有限公司 中国香港 65.87 港币 43,043 百万 全面银行业务 
南洋商业银行有限公司 中国香港 65.87 港币 600 百万 全面银行业务 
集友银行有限公司 (2) 中国香港 46.43 港币 300 百万 全面银行业务 
中银信用卡(国际)有限公司 中国香港 65.87 港币 480 百万 信用卡业务 
中银集团信托人有限公司 (3) 中国香港 76.31 港币 200 百万 信托业务 
(1) 在香港联合交易所上市。 
(2) 由中国银行(香港)有限公司持有 70.49%股权。 
(3) 分别由中国银行(香港)有限公司持有 54%，南洋商业银行有限公司持有 6%，集友银行有限公 
司持有 6%和中银国际控股有限公司持有 34%股权。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
13 
三 合并会计报表主要项目注释 
1 存放中央银行 
2006年6月30日 2005年12月31日 
存放中国人民银行备付金 88,305 89,124 
存放其他中央银行 25,763 25,787 
小计 114,068 114,911 
缴存中国人民银行人民币存款准备金 203,119 182,825 
缴存中国人民银行外币存款准备金 13,549 13,595 
缴存中国人民银行财政性存款 7,876 3,355 
缴存其他中央银行存款准备金 2,039 2,255 
小计 226,583 202,030 
合计 340,651 316,941 
境内机构按规定向中国人民银行缴存人民币存款准备金、外币存款准备金和财政性存款。于 
2006 年 6 月 30 日，境内机构人民币存款准备金缴存比率为 7.5% (2005 年：7.5%)，境内 
机构外币存款准备金缴存比率为 3% (2005 年：3%)。本行对代理国库存款和代理发行国债 
款项等财政性存款全额缴存中国人民银行。中国人民银行对境内机构缴存的外币存款准备金 
和财政性存款不计付利息。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
14 
三 合并会计报表主要项目注释 (续) 
2 交易性及其他公允价值变动计入损益的债券 
2006年6月30日 2005年12月31日 
交易性债券 
政府债券 27,761 19,116 
公共实体及准政府债券 3,088 2,095 
金融机构债券 23,600 30,599 
公司债券 3,794 4,179 
小计 58,243 55,989 
其他公允价值变动计入损益的债券(在初始确认时指定) 
政府债券 9,267 10,704 
公共实体及准政府债券 11,218 12,974 
金融机构债券 26,667 19,979 
公司债券 5,207 7,625 
小计 52,359 51,282 
合计 110,602 107,271 
其他公允价值变动计入损益的债券主要包括本集团通过衍生金融产品设定经济套期保值机制 
的债券投资。该等债券投资本应在债券投资中的“可供出售债券”或“持有至到期日债券” 
项目中列示，但由于本集团衍生金融产品公允价值的变动计入利润表，为了使设定经济套期 
保值债券投资的公允价值变动与相应的衍生金融产品公允价值的变动可以在利润表中相互抵 
销，因此本集团将该类债券投资在初始确认时即指定其公允价值变动计入利润表。 
3 衍生金融产品 
本集团主要以交易及套期保值为目的叙做下列与汇率和利率相关的衍生金融产品。 
本集团持有的衍生金融产品的合同/名义金额及其公允价值列示如下。资产负债表日各种衍生 
金融工具的合同/名义金额仅提供了一个与表内所确认的公允价值资产或负债的对比基础，并 
不代表所涉及的未来现金流量或当前公允价值，因而也不能反映本集团所面临的信用风险或 
市场风险。随着与衍生金融产品合约条款相关的外汇汇率、市场利率及股票或期货价格的波 
动，衍生金融产品的估值可能产生对银行有利(资产)或不利(负债)的影响，这些影响可能在不 
同期间有较大的波动。对没有活跃交易市场的金融工具，本集团通过各种估值方法确定其公 
允价值。使用的估值方法包括贴现现金流模型分析等。在实际操作允许的限度内，各种估值 
模型仅使用可观察到的数据，如利率和汇率。但管理层需对其他参数，诸如自身和交易对手 
的信用风险、市场波动率和相关性等方面进行估计。这些可观察到的数据以及相关假设的变 
化均会对金融工具的公允价值产生影响。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
15 
三 合并会计报表主要项目注释 (续) 
3 衍生金融产品 (续) 
2006 年 6 月 30 日 合同/名义金额 公允价值 
资产 负债 
外汇衍生金融产品 
远期外汇合同 (1) 800,207 8,412 (5,040) 
场外期权 (2) 268,738 4,348 (708) 
小计 12,760 (5,748) 
利率衍生金融产品 
利率互换合同 402,830 6,194 (7,333) 
交叉货币利率互换合同 38,209 1,943 (3,980) 
场外期权 149,528 146 (1,058) 
利率期货 17,552 21 (3) 
小计 8,304 (12,374) 
权益衍生金融产品 11,223 166 (227) 
贵金属衍生金融产品 10,686 310 (412) 
衍生金融产品资产/(负债)合计 (注释三、9) 21,540 (18,761) 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
16 
三 合并会计报表主要项目注释 (续) 
3 衍生金融产品 (续) 
2005 年 12 月 31 日 合同/名义金额 公允价值 
资产 负债 
外汇衍生金融产品 
远期外汇合同 (1) 563,397 6,991 (4,813) 
场外期权 (2) 196,012 3,781 (374) 
小计 10,772 (5,187) 
利率衍生金融产品 
利率互换合同 361,332 3,132 (5,246) 
交叉货币利率互换合同 39,427 1,735 (4,131) 
场外期权 110,578 148 (215) 
利率期货 14,939 28 (34) 
小计 5,043 (9,626) 
权益衍生金融产品 15,442 14 (7) 
贵金属衍生金融产品 21,008 979 (932) 
衍生金融产品资产/(负债)合计 (注释三、9) 16,808 (15,752) 
(1) 自 2005 年起，中国人民银行选择部分国内大型商业银行(包括本行)进行外汇掉期交易。在这 
些交易中，中国人民银行即期卖出美元买入人民币，并在一年后按约定的汇率买入美元卖出 
人民币，该约定汇率反映了各笔交易初始日美元和人民币利率的差异。 
(2) 包括与中央汇金投资有限责任公司签署的合同金额为 180.00 亿美元的外币期权合同，见注释 
五、1(1)。该交易的目的是为中央汇金投资有限责任公司注资形成的美元汇率风险头寸提供 
有效的经济套期保值。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
17 
三 合并会计报表主要项目注释 (续) 
4 存放及拆放同业 
2006年6月30日 2005年12月31日 
存放同业 
存放境内同业 2,860 4,305 
存放境外同业 4,114 8,133 
小计 6,974 12,438 
拆放同业 
拆放境内银行 53,862 52,439 
拆放境内非银行金融机构 50,605 26,302 
拆放境外同业 189,217 253,904 
拆放同业原值 293,684 332,645 
拆放同业减值准备 (544) (546) 
小计 293,140 332,099 
合计 300,114 344,537 
截至2006年6月30日止，拆放同业余额中非应计拆放同业为5.44亿元 (2005年：5.46亿元)。 
拆放同业中所含的买入返售款项分类列示如下： 
2006年6月30日 2005年12月31日 
买入返售贴现票据 14,007 7,592 
买入返售债券 
政府债券 47,109 41,857 
金融机构债券 26,476 20,191 
合计 87,592 69,640 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
18 
三 合并会计报表主要项目注释 (续) 
5 债券投资 
2006年6月30日 2005年12月31日 
可供出售债券(以公允价值列示) 
政府债券 309,350 229,064 
公共实体及准政府债券 247,158 106,840 
金融机构债券 228,024 170,038 
公司债券 134,643 87,068 
小计 919,175 593,010 
持有至到期日债券(以摊余成本列示) 
政府债券 224,065 231,156 
公共实体及准政府债券 119,604 135,002 
金融机构债券 192,294 203,724 
公司债券 33,163 37,577 
小计 569,126 607,459 
分类为贷款及应收款的债券(以摊余成本列示) 
中国东方资产管理公司债券 160,000 160,000 
中国人民银行专项票据 (1) 91,612 91,530 
财政部特种国债 42,500 42,500 
短期票据 
－公共实体及准政府债券 15,260 6,096 
－金融机构债券 67,676 49,993 
－公司债券 1,825 - 
凭证式国债及其他 10,647 11,888 
389,520 362,007 
分类为贷款及应收款的债券减值准备 (152) (156) 
小计 389,368 361,851 
合计 (2) 1,877,669 1,562,320 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
19 
三 合并会计报表主要项目注释 (续) 
5 债券投资 (续) 
(1) 2006 年 6 月 22 日， 中国人民银行向本行定向发行专项中央银行票据 0.82 亿元，用于置换 
部分国务院特批债转股企业贷款。该票据期限 5 年，年利率 1.89%，未经中国人民银行批 
准，不能流通、转让、质押和过户，不能用作债务的抵偿物。 
(2) 截至 2006 年 6 月 30 日止，债券投资中包括在卖出回购合约下质押给第三方的债券 768.22 
亿元 (2005 年：496.58 亿元)，见注释九、2。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
20 
三 合并会计报表主要项目注释 (续) 
6 贷款 
(1) 贷款性质分类 
本集团依据贷款的主要担保方式进行分类的贷款结构列示如下： 
2006年6月30日 2005年12月31日 
信用贷款 578,987 475,764 
保证贷款 723,502 684,824 
抵押、质押贷款 1,103,047 1,074,458 
合计 2,405,536 2,235,046 
(2) 贷款行业分布 
2006年6月30日 2005年12月31日 
企事业贷款 
制造业 591,908 531,191 
商业、服务业 323,348 301,863 
房地产 201,585 190,297 
能源、采矿及农业 252,416 230,854 
运输业 200,503 193,428 
公共事业 104,827 91,924 
金融业 112,153 96,245 
建筑业 38,304 36,050 
其他 39,037 40,191 
小计 1,864,081 1,712,043 
消费信贷 
住房贷款 428,119 413,007 
汽车贷款 24,391 28,005 
信用卡贷款及其他 88,945 81,991 
小计 541,455 523,003 
合计 2,405,536 2,235,046 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
21 
三 合并会计报表主要项目注释 (续) 
6 贷款 (续) 
(3) 应计和非应计贷款 
2006年6月30日 2005年12月31日 
应计贷款 2,322,496 2,158,232 
非应计贷款 83,040 76,814 
合计 2,405,536 2,235,046 
(4) 截至 2006 年 6 月 30 日止，贷款余额中包括在卖出回购合约下抵押给第三方的票据 55.69 亿 
元(2005 年：119.68 亿元)，见注释九、2。 
7 股权投资 
2006年6月30日 2005年12月31日 
投资联营企业 (1) 5,673 5,100 
其他股权投资 (2) 6,675 7,043 
账面原值 12,348 12,143 
i 减：股权投资减值准备 (1,138) (1,243) 
账面净值 11,210 10,900 
交易性股权投资(以公允价值计量) (3) 3,565 4,493 
合计 14,775 15,393 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
22 
三 合并会计报表主要项目注释 (续) 
7 股权投资 (续) 
(1) 截至 2006 年 6 月 30 日止，本集团的主要联营企业列示如下： 
公司名称 
注册/成立 
地点 
出资/控股 
比例(%) 实收资本 主要业务 
华能国际电力开发公司 中国 20 美元 450 百万 建设并经营电厂及有关工程 
中银国际证券有限责任 
公司 
中国 49 人民币 1,500 百万 证券买卖及承销、证券投资咨询 
及受托投资管理业务 
中华保险顾问有限公司 中国香港 33 港币 6 百万 保险经纪 
银联通宝有限公司 中国香港 19.96 港币 10 百万 自动柜员机服务及银行私人讯息 
转换网络 
东风标致雪铁龙汽车金 
融有限公司 
中国 50 人民币 500 百万 向车辆经销商和客户提供融资、 
贷款等服务 
(2) 其他股权投资 
其他股权投资主要指本行在香港的子公司为投资目的持有的股权项目。2005 年 12 月，本行 
与中国东方资产管理公司签署协议，完成了向其划转历史形成的待清理股权投资项目。 
(3) 交易性股权投资主要是指本行在香港的子公司所持有的上市公司股票投资。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
23 
三 合并会计报表主要项目注释 (续) 
8 对中央银行负债 
2006年6月30日 2005年12月31日 
国家外汇存款 30,080 28,873 
借入中央银行款项 33 520 
对中央银行其他负债 382 662 
合计 30,495 30,055 
9 衍生金融产品及公允价值变动计入损益的负债 
2006年6月30日 2005年12月31日 
衍生金融产品负债(注释三、3) 18,761 15,752 
公允价值变动计入损益的负债 
结构性存款 75,092 70,069 
外币债券卖空 4,057 3,740 
外汇基金票据卖空 3,262 1,613 
小计 82,411 75,422 
合计 101,172 91,174 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
24 
三 合并会计报表主要项目注释 (续) 
10 客户存款 
2006年6月30日 2005年12月31日 
短期对公存款 
活期对公存款 940,638 836,763 
一年期及以下定期对公存款 527,225 486,681 
小计 1,467,863 1,323,444 
短期储蓄存款 
活期储蓄存款 734,894 667,957 
一年期及以下定期储蓄存款 1,309,567 1,243,964 
小计 2,044,461 1,911,921 
长期对公存款 32,157 26,317 
长期储蓄存款 339,763 313,703 
存入保证金 168,780 128,392 
合计 4,053,024 3,703,777 
其中，存入保证金具体列示如下： 
承兑汇票保证金 92,106 63,556 
开出信用证及保函保证金 29,206 26,785 
外汇买卖交易保证金 10,524 8,638 
其他 36,944 29,413 
合计 168,780 128,392 
11 借入专项资金 
2006年6月30日 2005年12月31日 
借入买方信贷 15,826 17,147 
借入外国政府贷款 18,076 18,414 
借入混合贷款及其他 15,720 16,603 
合计 49,622 52,164 
借入专项资金是指本行以买方信贷、外国政府贷款、混合贷款等方式，向国外同业或外国政 
府借入的长期款项。借入专项资金通常有特定商业用途，对国外同业或外国政府的借款偿付 
责任由本行承担。 
截至 2006 年 6 月 30 日止，借入专项资金的剩余期限区间为 1 个月以内到 37 年，浮动利率 
及固定利率的范围为 0.2%至 9.2%，与从该类机构获取相似开发贷款的利率一致。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
25 
三 合并会计报表主要项目注释 (续) 
12 发行债券 
发行日 到期日 利率 
2006 年 6 
月 30 日 
2005 年 12 
月 31 日 
发行债券 (1) 
1994 年中国银行美元债券 1994 年 3 月 10 日 2014 年 3 月 15 日 8.25% 
177 
179 
发行次级债券 (2) 
2004 年中国银行人民币债券 
第一期 2004 年 7 月 7 日 2014 年 7 月 20 日 4.87% 14,070 14,070 
第二期 2004 年 10 月 22 日 2014 年 11 月 16 日 4.94% 12,000 12,000 
2005 年中国银行人民币债券 
第一期 2005年 2 月 18 日 2015 年 3 月 4 日 4.83% 15,930 15,930 
第二期固定利率部分 2005 年 2 月 18 日 2020 年 3 月 4 日 5.18% 9,000 9,000 
第二期浮动利率部分 2005 年 2 月 18 日 2015 年 3 月 4 日 浮动利率 9,000 9,000 
小计 60,000 60,000 
合计 60,177 60,179 
(1) 本行和债券持有者均不可以在债券到期日以前要求赎回或偿付该等债券。 
(2) 该等人民币次级债券的索偿权排在本行的其他负债之后，先于本行的股权资本。在计算资本充 
足率时，该等次级债券可计入附属资本。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
26 
三 合并会计报表主要项目注释 (续) 
13 递延税项 
本集团对递延税项采用债务法核算，对各项时间性差异的税务影响按本集团各经营机构所在 
地税率计算。递延所得税的变动情况如下： 
2006年1-6月 2005年 
期/年初余额 
17,377 18,647 
计入当期/年利润表的递延所得税 (注释三、28) (226) (1,252) 
外币折算差额 5 (18) 
期/年末余额 17,156 17,377 
当本集团依法有权抵销所得税资产和负债，且相应所得税的征管属同一税务管辖区时，递延 
税款借项和贷项以抵销后净额在资产负债表列示。本集团经过互抵后的递延税款借项和递延 
税款贷项列示如下： 
2006 年 6 月 30 日 2005年12月31日 
递延税款借项 17,410 17,561 
递延税款贷项 (254) (184) 
17,156 17,377 
递延税款借项和递延税款贷项的组成项目列示如下： 
2006年6月30日 2005年12月31日 
递延税款借项 
资产减值准备 18,012 17,744 
交易性及公允价值变动计入损益类债券 
和衍生金融产品的估值亏损 3,902 3,046 
其他时间性差异 602 696 
小计 22,516 21,486 
递延税款贷项 
交易性及公允价值变动计入损益类债券 
和衍生金融产品的估值收益 (4,319) (3,643) 
固定资产折旧 (445) (424) 
其他时间性差异 (1) (596) (42) 
小计 (5,360) (4,109) 
净额 17,156 17,377 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
27 
三 合并会计报表主要项目注释 (续) 
13 递延税项 (续) 
(1) 主要包括中国银行对应享有的部分境外子公司2006年上半年的所得，在境内补缴所得税时确 
认的递延税款贷项5.45亿元。 
计入当期/年利润表的递延所得税由以下时间性差异组成： 
2006年6月30日 2005年12月31日 
资产减值准备 265 1,467 
交易性及公允价值变动计入损益类 
债券和衍生金融产品的估值 190 (2,338) 
其他时间性差异 (681) (381) 
合计 (注释三、28) (226) (1,252) 
14 其他负债 
本集团子公司开展保险业务。包含在其他负债中的与保险合同相关的债务余额列示如下： 
2006年6月30日 2005年12月31日 
长期保险合同 11,093 8,383 
一般保险合同 2,111 2,079 
保险总负债，净值 13,204 10,462 
15 股票增值权计划及认股权计划 
(1) 股票增值权计划 
为了激励和奖励本行管理层及其他关键员工，本行设立了一项股票增值权计划，并于2005年 
11月22日获得本行董事会及股东批准。 
本行股票增值权计划的合格参与者包括董事、监事、管理层和其他董事会指定的员工。合格 
参与者将会获得股票增值权，于授出之日第三周年起每年最多可行使其中的25%。股票增值 
权将于授出之日起七年内有效。合格参与者将有机会获得本行h股于授出之日前十天的平均 
收市价和于行使日期前十二个月的平均收市价(将根据本行权益变动作适当调整)的差额(如 
有)。该计划以股份为基础，仅提供现金结算，因此，本行不会根据股票增值权计划发行任何 
股份。 
截至 2006 年 6 月 30 日和 2005 年 12 月 31 日止，本行没有根据股票增值权计划发行任何股 
票增值权。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
28 
三 合并会计报表主要项目注释 (续) 
15 股票增值权计划及认股权计划(续) 
(2) 认股权计划和股份储蓄计划 
2002 年 7 月 10 日，本集团子公司中银香港(控股)有限公司的股东批准并采纳了认股权计划 
及股份储蓄计划。 
截至 2006 年 6 月 30 日及 2005 年 12 月 31 日止，中银香港(控股)有限公司没有根据上述认 
股权计划及股份储蓄计划授予任何认股权。 
(3) 上市前认股权计划 
根据上市前认股权计划，中银香港(控股)有限公司的直接控股股东中银香港(bvi)有限公司于 
2002年7月5日向本集团若干董事、高级管理人员和员工授予认股权。被授予者可据此向中银 
香港(bvi)有限公司购入共计31,132,600股中银香港(控股)有限公司发行在外的股份，行使价 
为每股港币8.50元。上述认股权有效行使期为10年，在自2002年7月25日起的4年内按比例授 
予。此外中银香港(bvi)有限公司不再根据上市前认股权计划授予任何认股权。本集团没有以 
现金回购或结算上述认股权的法定义务或推定义务。 
尚未行使的股票期权计划变动列示如下： 
认股权数 
董事及 
高级管理人员 其他员工 其他 * 认股权数总计 
2006年1月1日 6,142,500 10,619,250 1,446,000 18,207,750 
分类变动 239,000 (239,000) - - 
减：当期行使的认股权 - (1,994,050) - (1,994,050) 
2006年6月30日 6,381,500 8,386,200 1,446,000 16,213,700 
2005年1月1日 6,142,500 12,849,300 1,446,000 20,437,800 
减：当年行使的认股权 - (2,121,550) - (2,121,550) 
减：当年作废的认股权 - (108,500) - (108,500) 
2005年12月31日 6,142,500 10,619,250 1,446,000 18,207,750 
* 代表本集团前董事持有的认股权。 
对于截至 2006 年 6 月 30 日和 2005 年 12 月 31 日止行使的认股权，中银香港(控股)有限公 
司的股份加权平均价格为港币 15.88 元 (折合人民币 16.42 元)和港币 15.01 元 (折合人民币 
15.61 元)。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
29 
三 合并会计报表主要项目注释 (续) 
16 少数股东权益 
2006 年 1-6 月 2005年 
期初余额 28,778 27,387 
少数股东应享本期利润 2,627 5,105 
少数股东增持子公司股权 (52) 17 
向少数股东支付股利 (1,891) (2,954) 
可供出售债券公允价值变动 (342) (110) 
外币折算差额 (308) (667) 
期末余额 28,812 28,778 
17 股本 
股本金额 
2006 年 1-6 月 2005 年 
期初余额 209,427 186,390 
发行普通股 (1) 44,412 23,037 
期末余额 253,839 209,427 
股份数目 
2006 年 1-6 月 2005 年 
期初余额 209,427,362,357 186,390,352,497 
发行普通股 (1) 44,411,799,652 23,037,009,860 
期末余额 253,839,162,009 209,427,362,357 
其中： 
2006年6月30日 
境内上市流通股(a 股) (2) 177,818,910,740 
境外上市流通股(h 股) (2) 76,020,251,269 
合计 253,839,162,009 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
30 
三 合并会计报表主要项目注释 (续) 
17 股本(续) 
(1) 根据《中国银行业监督管理委员会关于中国银行股份有限公司吸收全国社会保障基金理事会 
投资入股的批复》(银监复[2006]49 号)，本行于 2006 年 3 月 13 日向全国社会保障基金理事 
会定向溢价发行 8,514,415,652 股面值为每股人民币 1 元的普通股。全国社会保障基金理事 
会以人民币现金出资 100 亿元，投入资本包括股本溢价人民币 14.81 亿元。全国社会保障基 
金理事会向本行投入资本的实收情况，已由普华永道中天会计师事务所有限公司验证，并于 
2006 年 3 月 13 日出具《中国银行股份有限公司投入资本验资报告》(普华永道中天验字 
[2006]第 14 号)。 
根据《中国银行业监督管理委员会关于中国银行股份有限公司变更为境外募集股份有限公司 
并境外上市的批复)》(银监复[2006]53 号)和《关于同意中国银行股份有限公司发行境外上市 
外资股的批复》(证监国合字[2006]8 号) ，本行于 2006 年 6 月 1 日和 2006 年 6 月 9 日向境 
外投资者溢价发行 29,403,878,000 股面值为每股人民币 1 元的境外上市外资股(h 股)，并于 
香港联合交易所上市，每股发行价格为港币 2.95 元。境外投资者向本行投入资本的实收情 
况，已由普华永道中天会计师事务所有限公司验证，并于 2006 年 6 月 29 日出具《中国银行 
股份有限公司首次发行境外上市外资股(h 股)验资报告》(普华永道中天验字[2006]第 82 号)。 
根据《中国银行业监督管理委员会关于中国银行股份有限公司境内发行股份并上市有关事宜 
的批复)》(银监复[2006]135 号) 和《关于核准中国银行股份有限公司首次公开发行股票的通 
知》(证 监发行 字[2006]20 号 ) ，本行于 2006 年 6 月 29 日向 境内 投资者 溢价 发行 
6,493,506,000 股面值为每股人民币 1 元的普通股(a 股)，并于上海证券交易所上市，每股发 
行价格为人民币 3.08 元。境内投资者向本行投入资本的实收情况，已由普华永道中天会计师 
事务所有限公司验证，并于 2006 年 6 月 29 日出具《中国银行股份有限公司首次发行人民币 
普通股(a 股)验资报告》(普华永道中天验字[2006]第 83 号)。 
(2) 所有 a 股及 h 股在重大方面均享有同等地位，附带相同权利及利益。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
31 
三 合并会计报表主要项目注释 (续) 
18 资本公积 
2006年 1-6 月 
中国银行集团 中国银行 
期初余额 3,978 3,978 
发行普通股溢价 (1) 72,567 72,219 
其他 (2) - (309) 
期末余额 76,545 75,888 
(1) 如注释三、17 (1)所述，本行溢价发行普通股。因溢价发行普通股增加的资本公积列示如下： 
2006 年 1-6 月 
中国银行集团 
中国银
行 
向全国社会 
保障基金理 
事会发行普 
通股 发行 h 股 
发行 a 
股 合计 
发行普通股募集资金总额 10,000 89,967 20,000 119,967 119,967 
减：普通股面值总额 (8,514) (29,404) (6,494) (44,412) (44,412) 
扣除发行成本前溢价 1,486 60,563 13,506 75,555 75,555 
减：发行成本 (i) (5) (2,435) (548) (2,988) (3,336) 
净股本溢价 1,481 58,128 12,958 72,567 72,219 
中国银行集团 
及中国银行 
2005 年 
发行普通股募集资金总额 27,057 
减：普通股面值总额 (23,037) 
扣除发行成本前溢价 4,020 
减：发行成本 (56) 
净股本溢价 3,964 
(i) 发行成本主要包括承销费及专业机构服务费。本行子公司中银国际亚洲有限公司承销了部分本 
行发行的 h 股并向本行按照独立第三方收费水平收取承销费用。该等承销费用在集团合并时 
予以抵销。 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
32 
三 合并会计报表主要项目注释 (续) 
18 资本公积 (续) 
(2) 本行子公司中银香港(控股)有限公司(本行持有 65.87%股权)向本行直接控股子公司中银集 
团保险有限公司(本行持有 100%股权)购买其持有的中银集团人寿保险有限公司 51%的股 
权，购买价格为 9 亿港元，并以现金支付。中银香港(控股)有限公司对该等交易溢价采纳 
权益并购法在其集团合并会计报表中计入资本公积借项，本集团在合并时予以抵销。 
19 盈余公积、一般准备及法定储备金、未分配利润以及可供出售债券公允价值变动储备 
(1) 盈余公积 
根据中国政府的相关法律规定，本行须按中国会计准则下的净利润提取10%作为法定盈余 
公积。当本行法定盈余公积累计额为本行股本的50%以上时，可以不再提取法定盈余公 
积。经股东大会批准，本行提取的法定盈余公积可用于弥补本行的亏损或者转增本行股 
本。运用法定盈余公积转增股本后，所留存的法定盈余公积不得少于股本的25%。 
此外，部分境外机构根据当地银行监管的要求从税后利润中提取法定盈余公积。 
根据2006年8月29日董事会决议，本行按照2006年上半年净利润的10%提取法定盈余公 
积，计19.64亿元。 
(2) 一般准备及法定储备金 
本行根据财政部2005年5月17日颁布的《金融企业呆账准备提取管理办法》(财金[2005]49 
号)，在提取资产减值准备的基础上，设立一般准备用以弥补银行尚未识别的与风险资产相 
关的可能性损失。该一般准备作为利润分配处理，是所有者权益的组成部分，原则上应不 
低于风险资产期末余额的1%。本行采取一般准备逐步到位的方案，计划在未来三年内提足 
该办法要求的一般准备。 
法定储备金主要是指本行子公司中国银行(香港)有限公司提取的用作防范银行一般风险的 
准备(包括未来损失或其它不可预期风险)。 
根据2006年8月29日董事会决议，本行提取一般准备金42.91亿元。截至2006年6月30日， 
一般准备金约占风险资产期末余额的0.25%。 
(3) 未分配利润 
根据 2006 年 4 月 30 日召开的 2006 年度股东大会续会后会议审议批准的 2005 年度剩余 
利润分配方案，本行派发现金股利 13.75 亿元。 
本行对截至2006年6月30日止半年度的利润不派发股利。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
33 
三 合并会计报表主要项目注释 (续) 
19 盈余公积、一般准备及法定储备金、未分配利润以及可供出售债券公允价值变动储备(续) 
(4) 可供出售债券公允价值变动储备 
根据财政部《关于债券资产会计处理问题的批复》(财会函[2004]61号)，本集团对可供出 
售债券在资产负债日按照公允价值计量。因公允价值变动而产生的估值收益或估值亏损在 
该债券被转让或被认定为减值之前，先在股东权益中确认，待实际转让或被认定为减值 
时，再将以前在股东权益中确认的累积估值收益或估值亏损计入利润表。 
截至2006年6月30日止期间，由于人民币和美元利率持续上升，本集团可供出售债券组合 
形成未实现估值亏损。本集团对该等估值亏损进行了审阅，相信该等估值亏损是因为基础 
利率变动所致，不存在因债券发行人信用等级改变等造成债券资产减值情况。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
34 
三 合并会计报表主要项目注释 (续) 
20 净利息收入 
2006年1-6月 2005年1-6月 
利息收入 
贷款利息收入 60,360 51,971 
债券投资利息收入 30,652 19,908 
存放及拆放同业利息收入 6,315 3,518 
存放中央银行利息收入 2,450 2,069 
小计 99,777 77,466 
利息支出 
客户存款利息支出 (38,887) (23,815) 
同业存入及拆入和对中央银行负债利息支出 (4,122) (2,827) 
借入专项资金和发行债券利息支出 (2,292) (2,166) 
小计 (45,301) (28,808) 
净利息收入 54,476 48,658 
21 手续费及佣金收支净额 
2006年1-6月 2005年1-6月 
结算与清算业务收入 1,794 1,287 
代理业务收入 2,201 1,235 
信用承诺手续费及佣金收入 1,438 1,308 
银行卡业务收入 1,365 1,049 
受托业务收入 248 235 
其他 1,120 801 
手续费及佣金收入 8,166 5,915 
手续费及佣金支出 (1,325) (1,397) 
手续费及佣金收支净额 6,841 4,518 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
35 
三 合并会计报表主要项目注释 (续) 
22 净交易(损失)/收入 
2006年1-6月 2005 年 1-6 月 
汇兑及汇率产品净收益 (1) 1, 302 3,3 22 
利率产品净损失 (2) (1,495) (329) 
合 计 (193) 2,993 
(1) 见注释七、资产负债币种分析。 
(2) 包括2006年上半年交易类债券未实现估值亏损17.55亿元。 
23 投资收益 
2006年1-6月 2005年1-6月 
股权投资收益 
投资联营企业净收益 339 48 
其他股权投资净收益 (1) 1,248 77 
小计 1,587 125 
债券投资收益 94 24 
合计 1,681 149 
(1) 其他股权投资净收益主要包括本集团在香港的子公司于 2006 年上半年买卖部分交易性股权投 
资获得的净收益。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
36 
三 合并会计报表主要项目注释 (续) 
24 其他业务收支净额 
2006年1-6月 2005年1-6月 
其他业务收入 
保险业务收入 4,286 2,624 
其他 (1) 1,080 143 
小计 5,366 2,767 
其他业务支出 
保险理赔费用 (3,423) (2,168) 
其他 (146) (238) 
小计 (3,569) (2,406) 
其他业务收支净额 1,797 361 
(1) 其他业务收入中包括本集团在香港的子公司于2006年3月向独立第三方处置部分贷款，获得 
净收益6.60亿元。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
37 
三 合并会计报表主要项目注释 (续) 
25 业务及管理费 
2006 年 1-6 月 2005 年 1-6 月 
员工费用 13,278 11,654 
业务费用 7,174 6,208 
折旧 2,741 3,138 
合计 23,193 21,000 
员工费用具体列示如下： 
2006年1-6月 2005年1-6月 
工资薪金及福利费 10,141 9,345 
养老金设定提存计划 1,495 659 
住房公积金 626 427 
其他社会保险支出 415 362 
养老金设定受益计划 139 238 
其他 462 623 
合计 13,278 11,654 
2005年下半年，本集团设立中国银行企业年金计划。养老金设定提存计划费用中包括本行在 
2006上半年向该年金计划支付4.78亿元。 
在截至2006年6月30日止期间的养老金设定提存计划支出中已扣除因员工辞职等原因而没收 
的供款金额约为0.12亿元 (2005年1-6月：0.14亿元)。截至2006年6月30日和2005年6月30日 
止，可作进一步扣减日后应付供款的没收金额均不重大。 
26 营业税金及附加 
2006年1-6月 2005年1-6月 
营业税金 2,687 2,406 
城市维护建设税 176 158 
教育费附加 96 83 
其他 28 23 
合计 2,987 2,670 
27 资产减值损失 
2006年1-6月 2005年1-6月 
贷款减值损失 5,062 4,718 
抵债资产减值(转回)/损失 (131) 96 
其他应收款坏账(转回)/损失 (55) 206 
固定资产及其他资产减值转回 - (444) 
合计 4,876 4,576 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
38 
三 合并会计报表主要项目注释 (续) 
28 所得税 
2006 年 1-6 月 2005 年 1-6 月 
当期所得税 12,136 10,998 
递延所得税 (注释三、13) 226 (138) 
合计 12,362 10,860 
本集团实际所得税支出与按法定税率计算的所得税支出不同，主要调节事项如下： 
2006 年 1-6 月 2005 年 1-6 月 
税前利润 34,013 29,578 
按税前利润乘以 33%计算之所得税 11,224 9,761 
其他国家和地区采用不同税率所产生的影响 (1,927) (1,479) 
境外机构所得在境内补交所得税 1,688 865 
调整以前年度所得税费用 (1) (350) (2) 
免税收入 (1,223) (614) 
不可税前抵扣的费用 (2) 2,921 2,452 
其他 29 (123) 
合计 12,362 10,860 
(1) 主要包括2006年上半年本行获财政部和国家税务总局批准，针对以划转股权投资方式注入东 
方资产管理公司形成的尚未扣除的人民币8.60亿元投资划转损失，准予其在计算企业所得税 
前扣除，相关所得税影响为人民币 2.84亿元。 
(2) 不可税前抵扣的费用主要为超过税法抵扣范围的工资成本等。 
本集团目前正在向国家税务总局申请境内员工费用可于税前抵扣的法定限额调整安排。国家 
税务总局以《关于中国银行股份有限公司计税工资税前扣除问题的复函》(国税函[2006] 484 
号)原则同意本行在境外上市后，计税工资按照“工效挂钩”办法税前扣除。本集团管理层将 
按照国家主管部门有关规定，积极跟进该项申请并落实具体实施方案。 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
39 
三 合并会计报表主要项目注释 (续) 
29 每股基本净收益和稀释后每股净收益 
每股基本净收益按归属于普通股股东的当期净利润除以当期发行在外普通股股数的加权平均 
数计算。 
稀释后每股净收益是在假设对所有潜在稀释普通股进行转换并调整发行在外普通股的加权平 
均数的基础上进行计算的。本行没有任何潜在稀释普通股。 
2006年1-6月 2005年1-6月 
归属于本行股东的当期净利润 19,024 16,434 
当期发行在外的普通股股数的加权平均 
数(百万股) 218,002 186,390 
每股基本净收益和稀释后每股净收益 
(人民币元/股) 0.09 0.09 
30 现金流量表注释 
现金及现金等价物包括以下项目(原始到期日均在 3 个月以内)： 
2006年6月30日 2005年6月30日 
现金 29,811 29,486 
存放中央银行 113,039 130,427 
存放及拆放同业 215,713 230,894 
短期票据 30,910 24,149 
合计 389,473 414,956 
(1) 将净利润调节为经营活动现金流量 
2006 年 1-6 月 2005年1-6月 
净利润 19,024 16,434 
加/(减): 
少数股东应享本期利润 2,627 2,284 
计提资产减值损失准备 4,876 4,576 
固定资产折旧 2,741 3,138 
无形资产及长期待摊费用摊销 341 222 
处置固定资产和其他资产净收益 (168) (671) 
股权投资收益 (1,587) (125) 
发行债券利息支出 1,384 1,178 
经营性应收项目的增加 (495,834) (288,793) 
经营性应付项目的增加 348,605 283,372 
经营活动产生的现金流量净额 (117,991) 21,615 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
40 
四 母公司会计报表主要项目补充说明 
1 债券投资 
2006年6月30日 2005年12月31日 
可供出售债券(以公允价值列示) 
政府债券 296,280 219,566 
公共实体及准政府债券 242,068 102,200 
金融机构债券 193,816 146,373 
公司债券 86,487 70,798 
小计 818,651 538,937 
持有至到期日债券(以摊余成本列示) 
政府债券 221,541 227,718 
公共实体及准政府债券 91,308 103,074 
金融机构债券 72,118 74,791 
公司债券 8,101 9,560 
小计 393,068 415,143 
分类为贷款及应收款的债券(以摊余成本列示) 
中国东方资产管理公司债券 160,000 160,000 
中国人民银行专项票据 91,612 91,530 
财政部特种国债 42,500 42,500 
短期票据 
－公共实体及准政府债券 15,260 5,992 
－金融机构债券 37,070 32,156 
－公司债券 1,825 - 
凭证式国债及其他 10,647 11,888 
358,914 344,066 
分类为贷款及应收款的债券减值准备 (152) (156) 
小计 358,762 343,910 
合计 1,570,481 1,297,990 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
41 
四 母公司会计报表主要项目补充说明(续) 
2 贷款 
2006年6月30日 2005年12月31日 
信用贷款 511,086 401,756 
保证贷款 647,205 617,332 
抵押、质押贷款 883,910 849,017 
合计 2,042,201 1,868,105 
3 股权投资 
2006年6月30日 2005年12月31日 
投资子公司 68,732 66,294 
投资联营企业 33 63 
其他股权投资 847 796 
账面原值 69,612 67,153 
减：股权投资减值准备 (173) (202) 
账面净值 69,439 66,951 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
42 
四 母公司会计报表主要项目补充说明(续) 
4 客户存款 
2006年6月30日 2005年12月31日 
短期对公存款 
活期对公存款 848,940 747,059 
一年期及以下定期对公存款 429,253 380,105 
小计 1,278,193 1,127,164 
短期储蓄存款 
活期储蓄存款 539,321 492,876 
一年期及以下定期储蓄存款 1,013,449 937,430 
小计 1,552,770 1,430,306 
长期对公存款 31,095 24,395 
长期储蓄存款 332,287 305,239 
存入保证金 162,628 122,083 
合计 3,356,973 3,009,187 
其中，存入保证金具体列示如下： 
承兑汇票保证金 92,068 63,522 
开出信用证及保函保证金 28,988 26,469 
外汇买卖交易保证金 5,767 3,718 
其他 35,805 28,374 
合计 162,628 122,083 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
43 
四 母公司会计报表主要项目补充说明(续) 
5 净利息收入 
2006年1-6月 2005年1-6月 
利息收入 
贷款利息收入 50,141 45,875 
债券投资利息收入 23,738 15,804 
存放及拆放同业利息收入 3,457 2,327 
存放中央银行利息收入 2,189 2,032 
小计 79,525 66,038 
利息支出 
客户存款利息支出 (26,815) (19,427) 
同业存入及拆入和对中央银行负债 
利息支出 (4,090) (2,811) 
借入专项资金和发行债券利息支出 (2,292) (2,163) 
小计 (33,197) (24,401) 
净利息收入 46,328 41,637 
6 手续费及佣金收支净额 
2006年1-6月 2005年1-6月 
结算与清算业务收入 1,374 964 
代理业务收入 877 385 
信用承诺手续费及佣金收入 1,148 996 
银行卡业务收入 962 636 
受托业务收入 113 110 
其他 748 611 
手续费及佣金收入 5,222 3,702 
手续费及佣金支出 (460) (673) 
手续费及佣金收支净额 4,762 3,029 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
44 
四 母公司会计报表主要项目补充说明(续) 
7 净交易(损失)/收入 
2006年1-6月 2005年1-6月 
汇兑及汇率产品净收益 343 2,655 
利率产品净损失 (625) (405) 
合计 (282) 2,250 
8 投资收益 
2006年1-6月 2005年1-6月 
股权投资收益 
投资子公司净收益 7,521 4,747 
投资联营企业净收益 5 3 
其他股权投资净收益 21 85 
小计 7,547 4,835 
债券投资收益 105 5 
合计 7,652 4,840 
9 业务及管理费 
2006年1-6月 2005年1-6月 
员工费用 11,087 9,602 
业务费用 6,308 5,394 
折旧 2,320 2,748 
合计 19,715 17,744 
员工费用具体列示如下： 
2006年1-6月 2005年1-6月 
工资薪金及福利费 8,159 7,546 
养老金设定提存计划 1,334 638 
住房公积金 611 427 
其他社会保险支出 411 339 
养老金设定受益计划 139 238 
其他 433 414 
合计 11,087 9,602 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
45 
四 母公司会计报表主要项目补充说明(续) 
10 资产减值损失 
2006年1-6月 2005年1-6月 
贷款减值损失 5,849 6,092 
抵债资产减值(转回)/损失 (129) 96 
其他应收款坏账(转回)/损失 (32) 211 
固定资产及其他资产减值转回 (8) (283) 
合计 5,680 6,116 
11 现金流量表注释 
现金及现金等价物包括以下项目(原始到期日均在 3 个月以内)： 
2006年6月30日 2005年6月30日 
现金 26,684 26,242 
存放中央银行 89,018 103,122 
存放及拆放同业 160,662 150,374 
短期票据 27,686 21,492 
合计 304,050 301,230 
(1) 将净利润调节为经营活动现金流量 
2006年1-6月 2005年1-6月 
净利润 19,643 16,434 
加/(减): 
计提资产减值损失准备 5,680 6,116 
固定资产折旧 2,320 2,748 
无形资产及长期待摊费用摊销 340 221 
处置固定资产和其他资产净收益 115 (146) 
股权投资收益 (7,547) (4,835) 
发行债券利息支出 1,384 1,178 
经营性应收项目的增加 (433,206) (277,343) 
经营性应付项目的增加 324,064 250,067 
经营活动产生的现金流量净额 (87,207) (5,560) 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
46 
五 关联交易 
如果一方有能力直接或间接控制、共同控制另一方或对另一方的财务和经营决策产生重大影 
响；或本集团与另一方或多方同受一方控制，均被视为存在关联关系。中国政府通过中央汇 
金投资有限责任公司持有本行股权并对本集团实行控制。 
1 与中央汇金投资有限责任公司之间的交易 
(1) 外币期权合同 
本行于 2005 年 1 月 5 日和中央汇金投资有限责任公司签署了一份外币期权合同。该外币期 
权合同规定，自 2007 年 1 月 1 日起至 12 月 31 日止，本行有权于每月初以 8.2769 的价格向 
中央汇金投资有限责任公司出售美元，每次交易不超过 15 亿美元，共计 180 亿美元。本行 
须向中央汇金投资有限责任公司支付相关期权费用人民币 44.69 亿元，此期权费于 2007 年 1 
月 1 日起至 12 月 31 日止分 12 个月于每月初平均支付。 
(2) 存款 
2006 年 1-6 月 2005 年 
期/年初余额 38,869 - 
当期/年吸收的存款 156,679 42,972 
当期/年归还的存款及其他变动 (173,709) (4,103) 
期/年末余额 21,839 38,869 
吸收中央汇金投资有限责任公司存款按照正常的商业条款和市场价格进行。 
2 与中央汇金投资有限责任公司下属公司之间的交易 
中央汇金投资有限责任公司同时拥有其他金融机构的股份控制权。本集团与这些金融机构在 
正常经营业务范围内按商业条款和市场价格进行金融业务交易。该等交易包括债券资产和货 
币市场交易等。截至 2006 年 6 月 30 日止，本集团与该等金融机构无重大交易余额。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
47 
五 关联交易(续) 
3 与持有本行 5%以上（含 5%）股份股东之间的交易 
除中央汇金投资有限责任公司外，于 2006 年 6 月 30 日持有本行 5%以上(含 5%)股份的股东 
为 rbs china investments s.à.r.l.。本行与该股东之间在 2006 年 1 月 1 日至 6 月 30 日止期 
间无重大交易，截至 2006 年 6 月 30 日止无重大余额。 
4 与联营企业之间的交易 
本集团在正常的经营活动中与联营企业(注释三、7)发生了包括存、贷款及购买发行债券在内 
的正常银行业务往来。该等交易按照正常的商业条款和市场价格进行。关联交易的金额和期 
末余额列示如下，相关的利息收入及支出并不重大。 
(1) 贷款 
2006年1-6月 2005年 
期/年初余额 7,240 1,246 
当期/年发放的贷款 18 8,128 
当期/年归还的贷款 (6,095) (989) 
当期/年核销的贷款及其他变动 (1,145) 
期/年末余额 1,163 7,240 
贷款减值准备 (190) (119) 
(2) 存款 
2006年1-6月 2005年 
期/年初余额 856 1,227 
当期/年吸收的存款 3,250 3,879 
当期/年支取的存款及其他变动 (1,959) (4,250) 
期/年末余额 2,147 856 
(3) 债券资产 
2006年1-6月 2005年 
期/年初余额 188 - 
当期/年购入 - 1,307 
当期/年处置 (188) (1,123) 
当期/年公允价值变动及其他 - 4 
期/年末余额 - 188 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
48 
六 分部报告 
本集团主要在三大地区开展业务活动：中国内地、港澳地区以及其他境外地区(主要包括纽约、 
伦敦、新加坡和东京)。 
本集团按区域分部对收入、经营成果、资产、负债及资本性支出进行分析，分部信息分析反映了 
目前本集团的经营管理模式。按照本集团组织结构和内部财务报告流程，本集团决定区域分部为 
主要分部报告信息列示。 
本集团按分行和子公司所在国家或地区列示利润表项目、资产和负债项目、资本性支出、折旧和 
摊销及信用承诺。 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
49 
六 分部报告(续) 
2006年1月1日至6月30日止期间 港 澳地区 
中国内地 中银香港集团 其他 合计 其他境外地区 抵销额 集团 
利息收入 76,446 19,997 2,276 22,273 3,426 (2,368) 99,777 
利息支出 (31,368) (12,235) (1,489) (13,724) (2,581) 2,372 (45,301) 
净利息收入 45,078 7,762 787 8,549 845 4 54,476 
手续费及佣金收支净额 4,225 1,724 989 2,713 388 (485) 6,841 
净交易(损失)/收入 (107) 677 (536) 141 (227) - (193) 
投资(损失)/收益 124 7 1,634 1,641 (6) (78) 1,681 
其他业务收支净额 129 423 1,271 1,694 (3) (23) 1,797 
49,449 10,593 4,145 14,738 997 (582) 64,602 
业务及管理费 (18,920) (2,973) (645) (3,618) (687) 32 (23,193) 
营业税金及附加 (2,945) (19) (10) (29) (13) - (2,987) 
营业利润 27,584 7,601 3,490 11,091 297 (550) 38,422 
营业外收支净额 172 201 57 258 37 - 467 
扣除资产减值损失前利润总额 27,756 7,802 3,547 11,349 334 (550) 38,889 
资产减值(损失)/回拨 (5,932) 717 218 935 121 - (4,876) 
利润总额 21,824 8,519 3,765 12,284 455 (550) 34,013 
所得税 (10,751) (1,430) (242) (1,672) (142) 203 (12,362) 
税后利润 11,073 7,089 3,523 10,612 313 (347) 21,651 
少数股东应享本期利润 (4) (2,519) (104) (2,623) - - (2,627) 
净利润 11,069 4,570 3,419 7,989 313 (347) 19,024 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
50 
六 分部报告(续) 
港澳地区 
2006年6月30日 中国内地 中银香港集团 其他 合计 其他境外地区 抵销额 集团 
分部资产 4,268,205 875,352 118,363 993,715 199,169 
(234,15 
6) 5,226,933 
分部负债 (3,917,105) (797,504) (99,538) 
(897,042
) (191,882) 165,549 (4,840,480) 
信用承诺 827,712 173,457 18,334 191,791 57,397 (52,704) 1,024,196 
截至 2006 年 6 月 30 日止期间 
其他分部信息 
资本性支出 1,800 296 15 311 79 - 2,190 
折旧和摊销 2,618 317 92 409 55 - 3,082 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
51 
六 分部报告(续) 
2005年1月1日至6月30日止期间 港 澳地区 
中国内地 中银香港集团 其他 合计 其他境外地区 抵销额 集团 
利息收入 63,883 10,976 1,431 12,407 2,429 (1,253) 77,466 
利息支出 (23,449) (4,477) (550) (5,027) (1,585) 1,253 (28,808) 
净利息收入 40,434 6,499 881 7,380 844 - 48,658 
手续费及佣金收支净额 2,529 1,497 99 1,596 393 - 4,518 
净交易收入/(损失) 2,241 520 247 767 (15) - 2,993 
投资收益 20 33 27 60 69 - 149 
其他业务收支净额 70 - 289 289 2 - 361 
45,294 8,549 1,543 10,092 1,293 - 56,679 
业务及管理费 (17,046-) (2,778-) (580-) (3,358-) (596-) -- (21,000-) 
营业税金及附加 (2,636) (15) (9) (24) (10) - (2,670) 
营业利润 25,612- 5,756- 954- 6,710- 687- -- 33,009- 
营业外收支净额 723- 251- 116- 367- 55- -- 1,145- 
扣除资产减值损失前利润总额 26,335- - 6,007 1,070- 7,077- 742- -- 34,154- 
资产减值(损失)/回拨 (6,591-) 1,383- 422- 1,805- 210- -- (4,576-) 
利润总额 19,744- 7,390- 1,492- 8,882- 952- -- 29,578- 
所得税 (9,472-) (1,223-) (5- ) (1,228-) (160-) -- (10,860-) 
税后利润 10,272- 6,167- 1,487- 7,654- 792- -- 18,718- 
少数股东应享本期利润 9- (2,174-) (119- ) (2,293-) -- - - (2,284-) 
净利润 10,281- 3,993- 1,368- 5,361- 792- -- 16,434- 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
52 
六 分部报告(续) 
港澳地区 
2005年12月31日 中国内地 中银香港集团 其他 合计 其他境外地区 抵销额 集团 
分部资产 3,803,989 845,959 120,266 966,225 186,982 
(214,39 
0) 4,742,806 
分部负债 (3,584,086) (768,215) (102,831) (871,046) (178,853) 153,799 (4,480,186) 
信用承诺 699,066 168,203 14,131 182,334 52,434 (38,072) 895,762 
截至 2005 年 6 月 30 日止期间 
其他分部信息 
资本性支出 1,485 176 34 210 71 - 1,766 
折旧和摊销 2,947 305 53 358 55 - 3,360 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
53 
六 分部报告(续) 
本集团以业务板块为第二分部信息。本集团主要通过以下业务板块提供金融服务，即公司银 
行业务、个人银行业务、资金业务、投资银行、保险及其他业务。本集团将收入、经营成 
果、资产、负债及资本性支出直接归属于各业务分部或者通过合理的基础分配至各业务分部 
列示。 
公司银行业务–为公司客户提供的银行服务包括活期账户、存款、透支、贷款、与贸易相关 
的产品及其他信贷服务、外币业务及衍生产品等。 
个人银行业务–为个人客户提供的银行服务包括活期账户、储蓄、存款、投资性储蓄产品、 
托管、信用卡及借记卡、消费信贷和抵押贷款等。 
资金业务–包括外汇交易、根据客户要求从事利率及外汇衍生工具交易、货币市场交易、自 
营性交易以及资产负债管理。该业务分部的经营成果包括分部间由于生息资产和负债增长的 
变化而引起的资金盈余或短缺的损益影响及外币折算损失。 
投资银行–提供债务和权益承销、资产管理服务、经纪服务和银团贷款安排。 
保险业务–提供财产险、人寿险及保险代理服务。 
其他业务–本集团的其他业务包括集团投资和其他等自身不形成可单独报告的分部。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
54 
六 分部报告(续) 
截至 2006 年 6 月 30 日止期间 
[ 
公司业务 个人业务 资金业务 投资银行 保险业务 其他 抵销 总计 
利息收入 45,329 42,491 38,551 289 269 191 (27,343) 99,777 
利息支出 (18,727) (25,610) (27,175) (270) (19) (847) 27,347 (45,301) 
净利息收入 26,602 16,881 11,376 19 250 (656) 4 54,476 
手续费及佣金收支净额 3,141 3,165 357 938 (277) 9 (492) 6,841 
净交易收入/(损失) 1,814 977 (1,910) (640) (428) (7) 1 (193) 
投资收益/(损失) - - 85 1,026 217 431 (78) 1,681 
其他业务收支净额 74 5 (3) - 686 1,103 (68) 1,797 
31,631 21,028 9,905 1,343 448 880 (633) 64,602 
业务及管理费 (8,588) (11,677) (2,876) (224) (103) (406) 681 (23,193) 
营业税金及附加 (1,478) (459) (1,023) (2) (3) (22) - (2,987) 
营业利润 21,565 8,892 6,006 1,117 342 452 48 38,422 
营业外收支净额 56 127 45 (2) 40 799 (598) 467 
扣除资产减值损失前利润总额 21,621 9,019 6,051 1,115 382 1,251 (550) 38,889 
资产减值(损失)/回拨 (4,202) (720) 1 (5) 6 44 - (4,876) 
利润总额 17,419 8,299 6,052 1,110 388 1,295 (550) 34,013 
所得税 (12,362) 
税后利润 21,651 
少数股东应享本期利润 (2,627) 
净利润 19,024 
分部资产 1,813,042 637,280 2,692,140 18,079 17,153 84,279 (35,040) 5,226,933 
资本性支出 416 782 31 6 2 953 - 2,190 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
55 
六 分部报告(续) 
截至 2005 年 6 月 30 日止期间及 2005 年 12 月 31 日 
公司业务 个人业务 资金业务 投资银行 保险业务 其他 抵销 总计 
利息收入 39,592 31,510 24,679 243 183 128 (18,869) 77,466 
利息支出 (13,848) (15,489) (17,623) (180) - (537) 18,869 (28,808) 
净利息收入 25,744 16,021 7,056 63 183 (409) - 48,658 
手续费及佣金收支净额 2,522 1,802 215 171 (254) 62 - 4,518 
净交易收入/(损失) 1,584 755 507 203 (48) (8) - 2,993 
投资收益/(损失) - 1 24 (39) 17 146 - 149 
其他业务收支净额 29 - - - 331 43 (42) 361 
29,879 18,579 7,802 398 229 (166) (42) 56,679 
业务及管理费 (7,876) (10,148) (2,680) (195) (88) (301) 288 (21,000) 
营业税金及附加 (1,455) (436) (760) (2) (1) (16) - (2,670) 
营业利润 20,548 7,995 4,362 201 140 (483) 246 33,009 
营业外收支净额 107 215 71 1 (4) 1,001 (246) 1,145 
扣除资产减值损失前利润总额 20,655 8,210 4,433 202 136 518 - 34,154 
资产减值(损失)/回拨 (5,471) 819 19 1 (2) 58 - (4,576) 
利润总额 15,184 9,029 4,452 203 134 576 - 29,578 
所得税 (10,860) 
税后利润 18,718 
少数股东应享本期利润 (2,284) 
净利润 16,434 
分部资产 1,658,718 603,891 2,399,377 15,159 12,398 77,644 (24,381) 4,742,806 
资本性支出 342 665 32 4 25 698 - 1,766 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
56 
六 分部报告(续) 
自 2006 年 1 月 1 日起，本集团对内部转移定价政策进行了修订。新的内部转移定价机制以市场存款和贷款利率为基准，参照不同产品及其期限 
调整其预定利润率。在 2006 年 1 月 1 日前，本集团采用资金的平均成本和生息资产的平均利率作为内部转移定价的基础，并未考虑不同产品和 
各自到期日。该方法变化的主要原因是为了更好的反映各业务分部的经营业绩，加强本行对资产和负债的管理能力。 
新的分部间转移定价对 2005 年 6 月 30 日报表项目的分部信息影响列示如下。 
截至 2005 年 6 月 30 日止期间 
公司业务 个人业务 资金业务 投资银行 保险业务 其他 抵销 总计 
原报告净利息收入 25,253 17,818 5,750 63 183 (409) - 48,658 
变动额 491 (1,797) 1,306 - - - - - 
重述后净利息收入 25,744 16,021 7,056 63 183 (409) - 48,658 
原报告营业利润 20,057 9,792 3,056 201 140 (483) 246 33,009 
变动额 491 (1,797) 1,306 - - - - - 
重述后营业利润 20,548 7,995 4,362 201 140 (483) 246 33,009 
原报告扣除资产减值损失前利润总额 20,164 10,007 3,127 202 136 518 - 34,154 
变动额 491 (1,797) 1,306 - - - - - 
重述后扣除资产减值损失前利润总额 20,655 8,210 4,433 202 136 518 - 34,154 
原报告利润总额 14,693 10,826 3,146 203 134 576 - 29,578 
变动额 491 (1,797) 1,306 - - - - - 
重述后利润总额 15,184 9,029 4,452 203 134 576 - 29,578 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
57 
七 资产负债币种分析 
于 2006 年 6 月 30 日和 2005 年 12 月 31 日，本集团的外汇净头寸列示如下： 
外汇头寸 
2006年 6 月 30 日 2005 年 12 月 31 日 
等值人民币 
十亿元 
等值美元 
十亿元 
等值人民币 
十亿元 
等值美元 
十亿元 
本集团资产负债表内外汇头 
寸净额 
601 75 485 60 
减：本集团资产负债表外外 
汇头寸净额 
(232) (29) (171) (21) 
本集团外汇头寸净额合计 369 46 314 39 
减：境外外币投资的外汇头 
寸净额 * 
(103) (13) (105) (13) 
外汇净头寸 266 33 209 26 
* 境外外币投资的外汇头寸净额代表本行海外子公司、分行及其联营公司所持有的外币净资产。境外 
机构以外币为记账本位币，为财务报告目的，该等境外机构的经营成果和财务状况折算为人民币所 
产生的差异在权益项下的“外币报表折算差额”科目内确认。该折算差异对本集团的合并利润表没 
有影响。 
本集团通过合理安排外币资金的来源和使用尽量减少潜在的货币错配。然而，本集团对外 
币头寸可实施的控制措施有限，因为人民币为非自由兑换货币。按照中国政府现行的外汇 
管理政策，外汇兑换需要中国政府有关部门的批准。本集团持有重大的外汇头寸，其主要 
来源于股东投入的外币资本金，本行经营外汇业务的外汇头寸盈余以及相关盈利 。 
本行于 2005 年与中央汇金投资有限责任公司签署了一份外币期权合同，名义本金为 180 
亿美元，对部分资产负债表的外汇头寸净额进行了经济套期保值。 
截至 2006 年 6 月 30 日止期间，本行通过叙做外汇交易，降低外汇头寸净额 33 亿美元。 
截止 2006 年 8 月，本行通过叙做外汇交易，进一步降低外汇头寸净额 142 亿美元。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
58 
七 资产负债币种分析(续) 
当外币对人民币汇率变动 1%时，上述本集团外汇净头寸因汇率波动产生的外汇折算损益对 
利润表的潜在影响分析如下： 
2006年 6 月 30 日 2005年12月31日 
收益 / (损失) 
人民币百万元 
收益 / (损失) 
人民币百万元 
外币对人民币汇率上涨/下降1% +/- 2,660 +/- 2,090 
以上针对潜在汇率波动所做的敏感性分析反映不同时点汇率波动对本集团外汇净头寸产生的 
外汇折算损益影响的简单情形，仅用于说明目的，并未考虑各货币间的汇率变动关系。该分 
析亦未考虑管理层资产负债表日后在获得中国政府批准后可能或已经采取的降低汇率变动风 
险的措施及外汇头寸的后续变动。 
本集团的资产、负债及表外项目的货币风险集中度具体列示如下。短期金融资产包括现金、 
贵金属、存放中央银行和存出发钞基金；债券资产包括交易性及其他公允价值变动计入损益 
的债券和债券投资；其他资产包括应收利息、固定资产和递延税款借项等；短期金融负债包 
括对中央银行负债和发行货币债务；其他负债包括应付利息等。在资产负债表外头寸净额 
中，期权产品按名义本金披露，其中包括本行与中央汇金投资有限责任公司签订的金额为 
180 亿美元的外币期权合同。该交易的目的是提供有效的经济套期保值，以对冲中央汇金投 
资有限责任公司注资带来的美元头寸汇率风险。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
59 
七 资产负债币种分析(续) 
2006 年 6 月 30 日 人民币 
美元 
折合人民币 
港元 
折合人民币 
欧元 
折合人民币 
日元 
折合人民币 
英镑 
折合人民币 
其他币种 
折合人民币 合计 
资产 
短期金融资产 315,390 17,258 43,422 1,943 25,201 445 43,546 447,205 
衍生金融产品资产 - 14,656 5,632 443 318 233 258 21,540 
存放及拆放同业 102,399 76,394 75,885 15,983 3,291 5,310 20,852 300,114 
债券资产 914,491 767,457 177,587 51,526 20,552 6,649 50,009 1,988,271 
贷款 1,643,896 362,362 315,887 38,557 25,062 4,419 15,353 2,405,536 
减：贷款损失准备 (72,036) (11,457) (3,456) (531) (367) (40) (241) (88,128) 
其他资产 89,134 20,056 33,558 1,377 1,829 722 5,719 152,395 
资产总计 2,993,274 1,246,726 648,515 109,298 75,886 17,738 135,496 5,226,933 
负债 
短期金融负债 7 25,367 39,182 - - - 2,090 66,646 
衍生金融产品及公允价值变动计入损 
益的负债 - 77,290 22,176 1,031 143 263 269 101,172 
同业存入及拆入 177,634 120,657 8,354 5,346 9,708 546 36,104 358,349 
客户存款 2,876,575 444,430 529,336 41,220 40,386 25,453 95,624 4,053,024 
借入专项资金及发行债券 60,000 26,378 - 16,045 4,440 940 1,996 109,799 
其他负债 93,410 21,889 31,429 1,462 1,082 729 1,489 151,490 
负债总计 3,207,626 716,011 630,477 65,104 55,759 27,931 137,572 4,840,480 
资产负债表内头寸净额 (214,352) 530,715 18,038 44,194 20,127 (10,193) (2,076) 386,453 
资产负债表外头寸净额 235,530 (264,170) 80,413 (49,256) (31,475) 17,014 15,520 3,576 
信用承诺 478,011 325,303 141,771 46,965 19,286 4,101 8,759 1,024,196 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
60 
七 资产负债币种分析(续) 
2005 年 12 月 31 日 人民币 
美元 
折合人民币 
港元 
折合人民币 
欧元 
折合人民币 
日元 
折合人民币 
英镑 
折合人民币 
其他币种 
折合人民币 合计 
资产 
短期金融资产 290,571 17,463 50,536 2,244 17,105 421 33,145 411,485 
衍生金融产品资产 - 11,493 4,552 149 548 57 9 16,808 
存放及拆放同业 72,731 133,179 96,420 13,322 616 5,691 22,578 344,537 
债券资产 834,407 562,128 147,966 50,044 23,072 7,048 44,926 1,669,591 
贷款 1,477,859 358,289 319,212 34,942 25,418 4,228 15,098 2,235,046 
减：贷款损失准备 (66,477) (11,779) (3,485) (510) (552) (36) (314) (83,153) 
其他资产 90,733 15,988 34,632 1,172 1,755 727 3,485 148,492 
资产总计 2,699,824 1,086,761 649,833 101,363 67,962 18,136 118,927 4,742,806 
负债 
短期金融负债 1,084 24,162 38,595 29 - 32 1,884 65,786 
衍生金融产品及公允价值变动计入损 
益的负债 - 70,625 19,551 418 384 117 79 91,174 
同业存入及拆入 209,624 76,205 13,707 4,400 11,538 514 29,245 345,233 
客户存款 2,531,878 440,252 529,827 46,854 37,565 26,634 90,767 3,703,777 
借入专项资金及发行债券 60,000 28,549 - 16,251 4,665 1,092 1,786 112,343 
其他负债 119,401 17,220 20,679 1,525 1,138 527 1,383 161,873 
负债总计 2,921,987 657,013 622,359 69,477 55,290 28,916 125,144 4,480,186 
资产负债表内头寸净额 (222,163) 429,748 27,474 31,886 12,672 (10,780) (6,217) 262,620 
资产负债表外头寸净额 173,666 (229,776) 73,943 (29,586) (16,344) 15,331 15,197 2,431 
信用承诺 394,938 295,280 137,425 30,874 21,185 2,049 14,011 895,762 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
61 
八 资产负债到期日分析 
本集团资产负债到期日结构分析列示如下。短期金融资产包括现金、贵金属、存放中央银行和存出发钞基金；债券资产包括交易性及其他公允价值 
变动计入损益的债券和债券投资；其他资产包括应收利息、固定资产和递延税款借项等；短期金融负债包括对中央银行负债和发行货币债务；其他 
负债包括应付利息等。 
2006 年 6 月 30 日 已逾期 即期偿还 1个月以内 1 个月至 3 个月 3个月至 12个月 1 年至 5 年 5 年以上 合计 
资产 
短期金融资产 - 219,593 226,583 1,029 - - - 447,205 
衍生金融产品资产 - 5,635 1,761 736 3,420 5,830 4,158 21,540 
存放及拆放同业 - 7,014 201,710 65,568 25,668 154 - 300,114 
债券资产 - - 60,840 172,718 364,243 826,955 563,515 1,988,271 
贷款 82,183 31,539 126,619 275,430 836,140 557,221 496,404 2,405,536 
减：贷款损失准备 (42,189) (143) (3,565) (5,508) (15,214) (13,191) (8,318) (88,128) 
其他资产 306 8,485 12,282 5,635 16,665 25,223 83,799 152,395 
资产总计 40,300 272,123 626,230 515,608 1,230,922 1,402,192 1,139,558 5,226,933 
负债 
短期金融负债 - 44,056 6 5,036 17,548 - - 66,646 
衍生金融产品及公允价值变动 
计入损益的负债 - 2,015 11,363 11,439 38,180 25,798 12,377 101,172 
同业存入及拆入 - 172,365 97,796 36,213 32,679 19,296 - 358,349 
客户存款 - 1,722,814 595,693 396,276 1,020,310 316,578 1,353 4,053,024 
借入专项资金及发行债券 - - 874 736 5,368 20,088 82,733 109,799 
其他负债 438 52,312 27,872 4,254 51,209 13,740 1,665 151,490 
负债总计 438 1,993,562 733,604 453,954 1,165,294 395,500 98,128 4,840,480 
流动性净额 39,862 (1,721,439) (107,374) 61,654 65,628 1,006,692 1,041,430 386,453 
中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
62 
八 资产负债到期日分析(续) 
2005 年 12 月 31 日 已逾期 即期偿还 1个月以内 1 个月至 3 个月 3个月至 12个月 1 年至 5 年 5 年以上 合计 
资产 
短期金融资产 - 208,416 202,030 1,018 21 - - 411,485 
衍生金融产品资产 - 3,890 2,042 754 1,583 5,347 3,192 16,808 
存放及拆放同业 - 12,438 220,629 92,649 18,707 114 - 344,537 
债券资产 - - 69,577 107,968 315,812 813,060 363,174 1,669,591 
贷款 77,846 28,662 109,430 224,756 814,571 518,316 461,465 2,235,046 
减：贷款损失准备 (37,696) (299) (1,881) (4,326) (19,121) (12,058) (7,772) (83,153) 
其他资产 303 4,622 12,727 6,936 10,367 27,240 86,297 148,492 
资产总计 40,453 257,729 614,554 429,755 1,141,940 1,352,019 906,356 4,742,806 
负债 
短期金融负债 - 65,237 529 20 - - - 65,786 
衍生金融产品及公允价值变动 
计入损益的负债 - 1,805 9,124 9,300 22,995 38,091 9,859 91,174 
同业存入及拆入 - 137,560 79,351 47,365 48,126 32,831 - 345,233 
客户存款 - 1,615,637 521,517 441,467 843,029 279,819 2,308 3,703,777 
借入专项资金及发行债券 - - 1,046 816 5,361 20,840 84,280 112,343 
其他负债 - 74,437 14,974 5,610 51,950 12,849 2,053 161,873 
负债总计 - 1,894,676 626,541 504,578 971,461 384,430 98,500 4,480,186 
流动性净额 40,453 (1,636,947) (11,987) (74,823) 170,479 967,589 807,856 262,620 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
63 
九 或有事项、承诺及主要表外项目 
1 法律诉讼 
截至 2006 年 6 月 30 日止，本集团存在正常业务中发生的若干法律诉讼事项。经与专业法律 
机构咨询，本集团管理层认为该等法律诉讼事项不会对本集团的财务状况产生重大影响。 
2 质押资产 
本集团部分资产被用作同业间回购、卖空业务及贵金属互换协议的质押物。截至2006年6月 
30日止，本集团该等回购、卖空业务及贵金属互换协议的合同金额为785.97亿元(2005年： 
621.08亿元)。所有该等协议均在协议生效起12个月内到期。 
2006年6月30日 2005年12月31日 
贵金属 52 2,617 
票据(注释三、6) 5,569 11,968 
债券投资(注释三、5) 76,822 49,658 
合计 82,443 64,243 
2006 年 6 月 30 日 2005年12月31日 
3 资本性承诺 
本集团的资本承诺金额列示如下: 
已批准及签订合同 2,152 1,893 
已批准但未签订合同 2,257 2,687 
合计 4,409 4,580 
本集团以上承诺皆为购买办公物业和设备承担的资本性承诺。本集团管理层确信本集团的未 
来净收入及其他筹资来源将足够支付该等资本性承诺，然而本集团对已批准但未签订合同的 
金额不承担必须发生支出的义务。 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
64 
九 或有事项、承诺及主要表外项目(续) 
4 经营租赁 
根据已签订的不可撤销的经营性租赁合同，本集团未来最低应支付的租金总额列示如下： 
2006年6月30日 2005年12月31日 
一年以内 1,401 1,371 
一年至二年 1,159 1,085 
二年至三年 851 807 
三年以上 2,566 2,546 
合计 5,977 5,809 
5 凭证式国债兑付承诺 
本行受财政部委托作为其代理人发行凭证式国债。凭证式国债持有人可以要求提前兑付持有 
的凭证式国债，而本行亦有义务履行兑付责任，兑付金额为凭证式国债本金及至兑付日的应 
付利息。截至 2006 年 6 月 30 日止，本行具有提前兑付义务的凭证式国债的本金余额为 
840.56 亿元(2005 年：809.65 亿元)，原始期限为一至五年。鉴于目前由中国人民银行设定 
的存款基础利率低于凭证式国债的收益率，本行管理层认为在该等凭证式国债到期日前，本 
行所需兑付的凭证式国债金额并不重大。 
6 主要表外风险 
2006年6月30日 2005年12月31日 
银行承兑 230,434 195,234 
开出保函 255,779 212,987 
开出信用证 115,686 101,195 
不可撤销的信用承诺及其他 422,297 386,346 
合计 1,024,196 895,762 

中国银行股份有限公司 
简要会计报表注释 
2006年1月1日至6月30日止期间报告 
(除特别注明外，金额单位为人民币百万元) 
65 
十 资产负债表日后事项 
在资产负债表日后，截至2006年8月，本行通过叙做外汇交易，降低外汇头寸净额142亿美元 
（注释二、29(1)）。 

中国银行股份有限公司 
附件一 
扣除非经常性损益的净利润 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
66 
本集团根据《公开发行证券公司信息披露规范问答第01号-非经常性损益》的规定编 
制下列非经常性损益明细表。在计算“扣除非经常性损益的净利润”时，已扣除非经 
常性损益的所得税影响。 
2006年1-6月 
未经审计 
净利润 19,024 
加/(减)：非经常性损益 
-处置长期股权投资净收益 (141) 
-营业外收入(1) (1,111) 
-营业外支出(2) 644 
-以前年度已经计提各项减值准备的转回(3) (451) 
相应税项调整 349 
扣除非经常性损益的净利润 18,314 
(1) 营业外收入是指发生的与经营业务活动无直接关系的各项收入，包括处置固定资产净 
收益、固定资产盘盈、罚款收入、长期不动户清理收入等。 
(2) 营业外支出是指发生的与经营业务活动无直接关系的各项支出，包括处置固定资产净 
损失、罚款支出、捐赠支出、非常损失等。 
(3) 以前年度已经计提的各项资产减值准备的转回主要为其他应收暂付款减值准备转回。 

中国银行股份有限公司 
附件二 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
67 
本集团按照国际财务报告准则编制的合并利润表和合并资产负债表及其与中国会计准则 
会计报表差异说明列示如下： 
1 合并利润表 
2006 年 1-6 月 2005 年 1-6 月 
未经审计 未经审计 
利息收入 100,124 77,616 
利息支出 (45,301) (28,808) 
净利息收入 54,823 48,808 
手续费及佣金收入 8,166 5,915 
手续费及佣金支出 (1,325) (1,397) 
手续费及佣金收支净额 6,841 4,518 
净交易收入 557 2,795 
证券投资净收益 64 20 
其他营业收入 7,218 5,229 
贷款减值损失 (5,479) (4,966) 
其他营业费用 (29,686) (27,721) 
营业利润 34,338 28,683 
联营企业投资净收益 371 48 
税前利润 34,709 28,731 
所得税 (12,458) (10,957) 
税后利润 22,251 17,774 
可供分配： 
本行股东 19,477 15,181 
少数股东 2,774 2,593 
22,251 17,774 
可供分配给本行股东的每股净收益(以元/ 
股表示) 
-每股基本净收益和摊薄后每股净收益 0.09 0.08 

中国银行股份有限公司 
附件二 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
68 
2 合并资产负债表 
2006年6月30日 2005年12月31日 
未经审计 经审计 
资产 
现金及存放同业 36,785 41,082 
存放中央银行 340,651 316,941 
拆放同业 293,140 332,099 
存出发钞基金 36,094 35,586 
贵金属 39,259 26,974 
交易性及其他公允价值变动 
计入损益的金融资产 
114,167 111,782 
衍生金融产品资产 21,540 16,808 
客户贷款和垫款净额 2,317,625 2,152,112 
证券投资 
－可供出售证券 929,894 602,221 
－持有至到期日债券 569,126 607,459 
－贷款及应收款 389,368 361,851 
联营企业投资 5,675 5,061 
固定资产 62,238 62,417 
投资物业 8,612 8,511 
递延所得税资产 23,431 20,504 
其他资产 44,030 38,640 
资产总计 5,231,635 4,740,048 

中国银行股份有限公司 
附件二 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
69 
2 合并资产负债表(续) 
2006年6月30日 2005年12月31日 
未经审计 经审计 
负债 
同业存入 171,422 134,217 
对中央银行负债 30,495 30,055 
发行货币债务 36,151 35,731 
发行存款证及同业拆入 190,880 212,626 
衍生金融产品及公允价值变动计入损益 
的负债 
101,172 91,174 
客户存款 4,048,438 3,699,464 
发行债券 60,177 60,179 
借入专项资金 49,622 52,164 
应付税款 20,637 23,459 
退休福利负债 6,933 7,052 
递延所得税负债 2,053 2,136 
其他负债 128,573 136,272 
负债合计 4,846,553 4,484,529 
所有者权益 
本行股东应享权益 
股本 253,839 209,427 
资本公积 66,613 (5,954) 
盈余公积 8,095 5,987 
一般准备及法定准备金 9,398 5,109 
未分配利润 21,893 10,188 
可供出售证券公允价值变动储备 (3,603) 1,899 
外币折算差额 (488) (237) 
355,747 226,419 
少数股东权益 29,335 29,100 
所有者权益合计 385,082 255,519 
负债及所有者权益总计 5,231,635 4,740,048 
中国银行股份有限公司 
附件二 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
70 
3 中国会计准则与国际财务报告准则会计报表差异调节 
净资产 净利润 
2006年 
6月30日 
2005年 
12月31日 2006年1-6月 2005年1-6月 
按中国会计准则呈报 357,641 233,842 19,024 16,434 
会计准则差异调整： 
—冲回资产评估增值及其相关的 
折旧费用(1) (7,794) (7,999) 205 133 
—投资物业以公允价值计量(2) 3,199 2,816 438 1,059 
—权益性投资分类为可供出售证 
券并以公允价值计量(3) 3,566 1,775 - - 
—计提内退员工内退期间的工资 
及福利义务(4) (4,911) (5,097) 186 (1,749) 
—对非交易性贵金属按成本法计 
量(5) (757) (637) (120) (83) 
—递延所得税影响(6) 4,222 992 (97) (97) 
—以上事项对少数股东权益的影 
响及其他 581 727 (159) (516) 
小计 (1,894) (7,423) 453 (1,253) 
按国际财务报告准则呈报 355,747 226,419 19,477 15,181 

中国银行股份有限公司 
附件二 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
71 
4 中国会计准则与国际财务报告准则差异调节说明 
(1) 冲回资产评估增值及其相关的折旧费用 
在中国会计准则下，本集团将股份公司设立过程中的资产评估增值104.32亿元作为资本 
公积计入2003年12月31日的会计报表，增值的资产主要为固定资产。重估的固定资产成 
本在预计使用年限内摊销。根据《国际会计准则第16号——不动产、厂场和设备》的规 
定，一旦会计主体选用了成本法核算固定资产即不得再对固定资产按评估价值计量。因 
此，在中国会计准则下确认的资产评估增值及其相关的折旧费用应在国际财务报告准则 
会计报表予以冲回。 
(2) 投资物业以公允价值计量 
在中国会计准则下，投资物业作为固定资产按成本扣减累计折旧和减值准备后的金额列 
报。根据《国际会计准则第40号——投资性房产》的规定，本集团对投资物业在资产负 
债表日按照公允价值计量。 
(3) 权益性投资分类为可供出售证券并以公允价值计量 
在中国会计准则下，不存在控制、共同控制、重大影响的长期股权投资按成本扣减减值 
准备后的余额列报。根据《国际会计准则第39号——金融工具：确认和计量》的规定， 
这些股权投资被分类到可供出售证券；分类为可供出售证券的股权投资在资产负债表日 
按公允价值计量。可供出售股权投资因公允价值变动而产生的未实现估值收益或亏损， 
作为重估增值储备直接记入所有者权益。 
(4) 内退员工内退期间的工资及福利义务 
根据财政部要求，本集团对早于法定退休年龄退休的员工(“内退员工”)在其内退期间的福 
利支出(即在内退日开始到其达到法定退休年龄间的福利支出)在中国会计准则下按照收付 
实现制进行核算。根据《国际会计准则第19号——雇员福利》的相关要求，本集团对内 
退员工的福利支出于资产负债表日根据未来支付义务的现值并调整精算利得或损失及过 
去服务成本后列示。 
(5) 贵金属以成本法计量 
根据中国银行业会计实务，本行在中国会计准则会计报表中对所有的贵金属在初始确认 
时按照成本入账，并于资产负债表日按市场价格计量。根据《国际会计准则第 2 号—— 
存货》的规定，对于本集团非交易性贵金属以成本法计量。 
(6) 递延所得税影响 
本集团在国际财务报告准则下对合并会计报表中的资产和负债的计税价值和账面价值之 
间的暂时性差异采用负债法计提递延税项。在中国会计准则下对所得税费用的会计处理 
采用纳税影响会计法。递延税项按照债务法根据时间性差异计算。2006 年的主要差异是 
国际财务报告准则下贷记或借记入权益的可供出售证券公允价值估值变动所带来的借记 
或贷记入权益的递延所得税影响。 
中国银行股份有限公司 
附件二 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年1月1日至6月30日止期间 
(除特别注明外，金额单位为人民币百万元) 
72 

1 
bank of china limited 
stock code of a shares: 601988 
2006 interim report 

2 
table of contents 
important notes 
financial highlights 
chairman’s statement 
president’s statement 
management discussion & analysis 
economic, financial and regulatory environment 
financial statement analysis 
segment reporting by region 
business review 
risk management 
corporate information 
directors, supervisors, senior management and staff 
corporate governance 
significant events 
condensed financial statements and review report (unaudited) 

3 
important notes 
the board of directors of bank of china limited (the “bank”) and its directors ,the board of supervisors and its supervisors, the 
senior management of the bank warrant that there are no fraudulent disclosures, misleading statements or material omissions in 
this report, and that they will be individually and jointly responsible for the truthfulness, accuracy and completeness of the report. 
the board meeting held on 29 august 2006 reviewed and adopted the text and summary of the 2006 interim report. 16 directors 
were required to attend the meeting, with 16 present at the meeting. 16 directors exercised the right of voting, and 5 supervisors of 
the bank participated in the meeting without voting right. 
the 2006 interim financial statements under prc accounting standards and international financial reporting standards have 
been reviewed by pricewaterhousecoopers zhong tian certified public accountants limited company (“pwc”) and 
pricewaterhousecoopers according to the chinese and international review standards respectively. 
board of directors of bank of china limited 
chairman xiao gang, president li lihui, vice president in charge of accounting function zhou zaiqun and general manager in 
charge of the accounting department liu yanfen undertake that the financial statements in the interim report are true and 
complete. 

4 
financial highlights (the report is prepared in accordance with the prc accounting standards for enterprises and the 
accounting systems for financial institutions.） 
at 30 june 2006 at 31 december 2005 at 31 december 
2004 
increase/decrease from 1 january 
2006 to 30 june 2006 
total assets 5,226,933 4,742,806 4,270,443 10.21% 
incl.: loans, net 2,317,408 2,151,893 2,071,693 7.69% 
total liabilities 4,840,480 4,480,186 4,037,705 8.04% 
incl.: customer deposits 4,053,024 3,703,777 3,342,477 9.43% 
total equity attributable to shareholders of the 
bank 357,641 233,842 205,351 52.94% 
net assets per share (rmb) 1.41 1.12 1.10 25.89% 
adjusted net assets per share (rmb)1 1.40 1.11 1.09 26.13% 
half year ended 30 
june 2006 
half year ended 30 
june 2005 
year ended 31 
december 2005 
increase/decrease from first half 
of 2005 to first half of 2006 
operating profit 38,422 33,009 64,744 16.40% 
gross profit 34,013 29,578 55,140 14.99% 
net profit 19,024 16,434 27,492 15.76% 
net profit after deducting non-recurring 
gains/losses 18,314 na 26,174 na 
earnings per share (eps)2 (fully diluted, 
rmb) 0.07 0.09 0.13 (22.22%) 
eps2,3 (weighted average,rmb) 0.09 0.09 0.15 0.00% 
net cash flow from operating activities (117,991) 21,615 13,883 (645.88%) 
1 the data are computed according to the standards concerning the contents and formats of information disclosure by 
companies offering securities to the public (no.3) --- contents and formats of interim report (revision 2003) (zjgsz [2003] 
no.25) promulgated by china securities regulatory commission (csrc). 
2 eps is calculated according to the compiling rules on information disclosure by companies offering securities to the public 
(no.9) --- computation and disclosure of return on net assets and eps promulgated by csrc. 
3 weighted average share capital and net asset are caculated with the number of days as the weight. 
5 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
increase/decrease from 1 
january 2006 to 30 june 
2006 (%) 
return on total assets (annualized) 0.87% 0.72% 0.61% 0.15 
return on share capital1 (annualized, excluding 
minority interests) 12.87% 12.52% 10.23% 0.35 
return on share capital (annualized, including 
minority interests) 13.34% 13.16% 10.92% 0.18 
return on net assets2 (annualized, fully diluted) 10.64% 11.76% 10.19% (1.12) 
return on net assets2 (annualized, weighted 
average) 14.99% 12.62% 10.04% 2.37 
credit cost (annualized) 0.44% 0.50% 1.06% (0.06) 
non-performing loan (npl) ratio 4.19% 4.62% 5.12% (0.43) 
capital adequacy ratio 12. 40% 10.42% 10.04% 1.98 
provision coverage ratio 87.44% 80.55% 68.02% 6.89 
half year ended 
30 june 2006 
half year ended 30 
june 2005 
year ended 31 
december 2005 
increase/decrease from 
first half of 2005 to first 
half of 2006 (%) 
cost to income ratio 35.90% 37.05% 39.30% (1.15) 
proportion of non-interest income 15.67% 14.15% 13.46% 1.52 
net interest margin 2.26% 2.31% 2.32% (0.05) 
1 the data are caculated according to the guidelines on the corporate governance and suppervision of state-owned commercial 
banks (yjf [2006] no.22). 
6 
chairman’s statement 
building a stronger foundation for growth 
the year 2006 will stand out as an important chapter in the history of bank of china limited. we became the first chinese bank to 
be listed in both international and domestic capital markets, which has laid a solid foundation for our vision of becoming a leading 
international bank. i am therefore delighted to present to our constituents in the community and the investing public the performance 
of the bank in the first half of the year. for the six months ended 30 june 2006, we recorded an operating profit of rmb38,422 
million and net profit of rmb19,024 million, representing a year on year increase of 16.40% and 15.76% respectively. our roaa 
was 0.87% and roae was 12.87%, an increase of 0.15% and 0.35% over the end of 2005. 
the satisfactory performance is the result of the bank’s advance with time and reforms introduced over the last two years. we 
completed the financial restructuring in 2004, and the introduction of strategic investors in 2005. on 1 june and 5 july 2006, our 
shares were successfully listed on the stock exchange of hong kong and the shanghai stock exchange respectively, thus making us 
the first chinese bank to be listed in both international and domestic capital markets. we raised hk$86 billion through issuing h 
shares, a new world record in the amount of equity capital raised in an ipo by a financial institution and also the largest ipo in the 
world over the last six years. the issue of a shares on the other hand raised rmb20 billion, making it the largest ipo ever in the a 
share market to date. the listings have enhanced our influence in both the international and domestic markets, giving added splendor 
to our century-old brand. 
the successful ipos have brought our reform to a new starting point and also fueled it with new impetus. they have offered a 
historical opportunity for us to achieve sustainable growth and created a platform to take our businesses to new heights. the ipos 
have strengthened the bank’s capital base, boosted the value of our brand name and market reputation, and will drive us to reform 
further and improve our corporate governance. becoming a listed bank is set to bring profound changes to our corporate value, 
development strategy, organization structure, business flow, staff quality and management practices. it will not only sustain but will 
also speed up our reforms. our goal is to completely transform our operational system and substantively enhance our management 
capabilities. 
however, we are also fully aware that along with the listings will come unprecedented challenges and tests. the bank will be subject 
to both banking and securities regulatory requirements, stringent market discipline and demands to deliver higher returns. we are 
committed to abide strictly by all relevant laws and regulations, disclose truthful, accurate and complete information in a timely 
manner to assure transparency, and to nurture and strengthen our core competitiveness and create maximum value. 
in the second half of 2006, we expect china to maintain a robust yet healthy economic growth. the effects of government 
macro-adjustment measures will become more apparent. the bank will closely monitor the development of the macro-economic 
environment and take advantage of opportunities to achieve strong and steady growth while staying alert to the associated risks. we 
will continue to improve our corporate governance and adhere to the “client-oriented and market-driven” principle. our focus is on 
enhancing profitability and sustainable growth so as to create maximum value for shareholders. by studying the setting up of 
strategic business units along the lines of corporate banking, personal banking and treasury business, we will try to strengthen the 
management of business lines so as to gradually establish a matrix management model commonly adopted by international financial 
institutions. we will also continue to implement the it blueprint to achieve centralized processing operations and set up uniform data 
standards and operational procedures. the ultimate objective of these endeavors is to centralize transaction data processing and 
facilitate the sharing of management information, thereby building a solid platform for improving the bank’s overall competitiveness 
and profitability, and at the same time enhancing internal control. it is also our commitment to build a strong corporate culture with 
work ethics that encourages honesty and integrity, the drive for performance, a people oriented spirit, diligence and accountability 
and the pursuit of excellence. we will cultivate shared values and common behaviour among our employees so as to pool their 
wisdom and ability and provide the bank with the lasting drive for a sustainable development. 
7 
to conclude, i wish to thank all our domestic and overseas customers, our shareholders, our peers and the public for your care and 
support in the past, and hope to have your continuous support in the years to come. i would also like to thank members of the board 
of directors, board of supervisors and senior management for your hard work and shrewd guidance. last but not the least, my 
gratitude goes to our entire staff for its industry and dedication, unswerving as always. 
xiao gang (signature) 
chairman 
president’s statement 
in 2006, bank of china limited was successfully listed in both domestic and international capital markets, which demonstrated the 
wide market recognition of our century-old brand name. on behalf of the management, i would like to thank investors and the 
different constituents in the community for your confidence and support. 
in the first half of 2006, both chinese economy and the world economy registered rapid growth, which enabled us and our peers in 
the domestic as well as international markets to share the opportunity and achievements arising from a booming economy. 
meanwhile, we have been vigilant to the challenges posed by volatility in both markets and the government’s macroeconomic 
adjustment measures in response to which we have taken further measures to improve our risk management to ensure a steady and 
sustainable growth. 
led by the board of directors, management diligently implemented the bank’s strategy, made good progress in diverse areas and 
achieved strong financial results. as at the end of june 2006, the group’s total asset stood at rmb5,226.933 billion, total liabilities 
was rmb4,840.48 billion, and owners’ equity was rmb357.641 billion, representing an increase of 10.21%, 8.04% and 52.94% 
respectively from the end of last year. profit before tax and net profit were rmb34.013 billion and rmb19.024 billion respectively, 
14.99% and 15.76% higher than in the same period last year. 
the surge in our profit during the period was mainly driven by increase of net interest income and non-interest income, and better 
control of credit cost and operating expenses. 
compared with the end of last year, our total customer deposits increased by 9.4% and total loans increased by 7.7%. amount of 
investment securities rose 19.1% and net interest income grew by 12.0%. 
8 
the profit before tax of domestic operations climbed 10.5%, accounting for 63.1% of the group’s total profit before tax compared 
with 59.4% as at the end of 2005. investment banking and insurance business reported a 145.7% surge in profit before tax and 
accounted for 6.6% of the group’s total profit against 3.2% in last year. commercial banking, our core business, boasted a 10.8% 
growth in profit before tax. 
non-interest income registered a 26.2% growth compared with the same period last year, with its contribution to the group’s 
operating profit rising from 14.2% to 15.7%. net service fees and commissions rose 51.4%. 
our lending business grew steadily with total loans up 7.7% from the end of last year. loans made by domestic operations increased 
9.6%, and rmb loans grew 11.2%. our risk management system functioned smoothly with continual improvement in credit asset 
quality. ratio of special mention loan dropped from 12.7% to 10.9% and impaired loan ratio decreased from 4.9% at the end of last 
year to 4.4%. coverage ratio increased from 80.6% to 87.4%. 
the group’s operating profit grew faster than operating expenses. our cost-to-income ratio was successfully lowered from 37.05% to 
35.9%; effective tax rate also decreased from 36.7% to 36.3%. 
management is fully aware that the listings have ushered in a new phase in the century old history of the bank. we will remain alert 
to challenges and operate prudently while actively developing our businesses. we will accelerate product innovation and improve 
service quality, with a view to enhance our core competitiveness. our risk management and internal control will continue to be 
enhanced so as to safeguard against cases and incidents of fraud. we will keep a watchful eye on effective cost control and will push 
forward with our organizational structure reforms, business processes integration and implementation of the it blueprint to achieve 
centralization and cost savings in our operation. human resources reform will also remain our key focus. we are committed to 
building an effective incentive system and nurturing a corporate culture that encourages integrity, performance, responsibility, 
harmony and excellence. we believe that with these initiatives and by offering more training, we will be able to substantially improve 
the overall quality of our workforce. 
li lihui (signature) 
president 
9 
management discussion & analysis 
economic, financial and regulatory environment 
in the first half of 2006, the global economy achieved robust growth. the international monetary fund raised its global gdp growth 
forecast to 4.9% for 2006, which will be the fourth consecutive year with growth rate over 4%. the chinese economy continued to 
maintain its trend of steady expansion, with a year-on-year gdp growth of 10.9% to rmb9,143.3 billion in the first half of 2006. 
commodity price remained stable. during the period, consumer price index rose by 1.3%, investments and exports grew especially 
strongly, while consumption steadily increased. foreign trade climbed 23.4%, 0.2 percentage point higher than the growth rate a year 
earlier. trade surplus reached usd61.4 billion. with strengthened macro-economic adjustment measures, the overheated factors in 
the economy have shown signs of cooling down. total retail sales of consumer goods increased by 13.3%, or 12.4% in real terms, 0.4 
percentage points higher than the growth a year earlier. the chinese economy continued to register fast growth and low inflation. 
in the first half of 2006, china's financial market advanced smoothly with financial credits and money supply increased and more 
financial innovations introduced. rmb interest rate and exchange rate remained stable. by the end of june, rmb had appreciated 
0.94% against usd. the balance of all financial institutions’ rmb and foreign currency loans had increased by 14.34% to 
rmb22.79 trillion, and the balance of deposits had surged by 17.19%. 
2006 is the fifth year following china's entry to the wto. with the country fully opening up its financial sector to the world by the 
end of the year, competition among domestic and foreign financial institutions has become increasingly fierce. 
the china banking regulatory commission (cbrc) promulgated a series of regulatory policies in the first half of 2006, covering 
such areas as the adoption of unified regulatory rating system for to all commercial banks, promotion of corporate governance and 
innovations, approval for banks to offer overseas wealth management services to customers, strengthening regulation of foreign 
exchange risk management and guidance on loan issuance. these policies have significant bearing on the banking industry’s 
profitability and business management. 
the changing economic, financial and regulatory environment has imposed more stringent requirements on the operation and 
management of commercial banks. 
our target this year, the bank will firmly push forward all its reforms in greater depth. while seizing the opportunities arising 
from china's continuous economic growth, it will also vigilantly guard against potential risks for the financial sector caused by 
conflicts in the inner working of the economy. it will accelerate the development of its risk management and internal control system, 
consolidate management and business processes, speed up the implementation of its it blueprint, and make efforts to improve 
management capabilities. it will expedite product and service innovation to enhance its core competitiveness. our goal is to ensure 
the bank develops in a comprehensive, coordinated and sustainable manner, thereby create greater value for shareholders, the bank, 
our clients and employees. 
financial statement analysis 
overview 
as of 30 june 2006, total assets of bank of china limited (“the bank”) and its subsidiaries (“the group”) reached rmb5,226.933 
billion, an increase of rmb484.127 billion or 10.21% over 31 december 2005. total liabilities stood at rmb4,840.48 billion, an 
increase of rmb360.294 billion or 8.04% over 31 december 2005. owners’ equity (excluding minority interests) totaled 
rmb357.641 billion, an increase of rmb123.799 billion or 52.94% over 31 december 2005. 
the group achieved a net profit of rmb19.024 billion in the first half of 2006, a year-on-year increase of rmb2.59 billion or 
15.76%. the group is in a good financial position. 
income statement analysis 
10 
unit: rmb million 
items half year ended 30 june 
2006 
half year ended 30 june 
2005 
year ended 31 december 
2005 
net interest income 54,476 48,658 100,405 
non-interest income 10,126 8,021 15,623 
operating and administrative expenses (23,193) (21,000) (45,604) 
business tax and surcharges (2,987) (2,670) (5,680) 
operating profit 38,422 33,009 64,744 
non-operating income, net 467 1,145 1,381 
net profit before impairment losses 38,889 34,154 66,125 
less: impairment losses (4,876) (4,576) (10,985) 
profit before tax 34,013 29,578 55,140 
less: income tax expense (12,362) (10,860) (22,543) 
less: minority interests (2,627) (2,284) (5,105) 
net profit 19,024 16,434 27,492 
return on net assets and eps calculated in accordance with the compiling rules on information disclosure by companies offering 
securities to the public (no.9) promulgated by csrc 
unit: rmb million 
return on net assets (%) eps (rmb) 
items profit in the 
report period fully diluted weighted average fully diluted weighted average 
profit from main business 38,422 21.49% 30.27% 0.15 0.18 
operating profit 38,422 21.49% 30.27% 0.15 0.18 
net profit 19,024 10.64% 14.99% 0.07 0.09 
net profit after deducting 
non-recurring items 18,314 10.24% 14.43% 0.07 0.08 
reconciliation between prc gaap and ifrs 
financial information 
unit: rmb million 
net assets net profit 
at 30 june 
2006 
at 31 december 
2005 
half year ended 
30 june 2006 
half year ended 30 
june 2005 
prc gaap figures 357,641 233,842 19,024 16,434 
adjustments for accounting standard differences: 
--reversal of revaluation surplus and 
corresponding depreciation (7,794) (7,999) 205 133 
--fair value measurement on investment 
properties 3,199 2,816 438 1,059 
--equity securities classified as available-for-sale 
financial assets at fair value 3,566 1,775 - - 
--early retirement benefit obligation (4,911) (5,097) 186 (1,749) 
--cost method applied on precious metals (757) (637) (120) (83) 
--deferred tax impact 4,222 992 (97) (97) 
--minority interests effect and others 581 727 (159) (516) 
sub-total (1,894) (7,423) 453 (1,253) 
irfs figures 355,747 226,419 19,477 15,181
11 
please refer to appendix ii iv (reconciliation between rprc gaap and ifrs financial information) for details. 
non-recurring items 
unit: rmb million 
items balance 
net gains on disposal of long-term equity investments 141 
non-operating income 1,111 
non-operating expense (644) 
write-back of the impairments recognized in previous 
years 451 
income tax impact of non-recurring items (349) 
total 710 
operation of major subsidiary 
half year ended 30 june 2006 half year ended 30 june 2005 
name boc hong kong (holdings) limited 
listing place and code hong kong · hk2388 
scope of business 
boc hong kong (holdings) limited is a holding company; its subsidiary 
bank of china (hong kong) limited (boc hong kong) provides banking and 
relevant financial services in hong kong. 
net profit (rmb 100million) 45.70 39.93 
proportion of net profit of share 
participating company in current period in 
the net profits of the listed company (%) 
24.02 24.30 
net interest income 
in the first half of 2006, the group achieved a net interest income of rmb54.476 billion, a year-on-year increase of rmb5.818 
billion or 11.96%. the average balance1 and average interest rate2 of the group’s interest-earning assets and interest-bearing 
liabilities are shown in the table below: 
1 average balances of interest-earning assets and interest-bearing liabilities are daily average balances derived from the group’s 
management accounts. 
2 the average interest rate is annualized rate and calculated by dividing interest income/expense by average balance. average interest 
rates in the first half of 2006 and the first half of 2005 are converted into annualized rates. 
12 
unit: rmb million 
half year ended 30 june 2006 half year ended 30 june 2005 year ended 31 december 2005 
average balance average balance average items age balance 
amount percen 
tage 
interest 
income 
and 
expense 
average 
interest 
rate amount percen 
tage 
interest 
income 
and 
expense 
average 
interest 
rate amount percen 
tage 
interest 
income 
and 
expense 
average 
interest 
rate 
interest-earning 
assets 
loans 2,291,998 48% 60,360 5.27% 2,196,061 52% 51,971 4.73% 2,192,058 51% 109,711 5.00% 
debt securities1 1,837,222 38% 30,652 3.34% 1,383,481 33% 19,908 2.88% 1,475,673 34% 44,938 3.05% 
due from and 
placements with 
banks and other 
financial institutions, 
and due from central 
banks 
694,824 14% 8,765 2.52% 639,077 15% 5,587 1.75% 655,359 15% 12,696 1.94% 
sub-total 4,824,044 100% 99,777 4.14% 4,218,619 100% 77,466 3.67% 4,323,090 100% 167,345 3.87% 
interest-bearing 
liabilities 
deposits from 
customers* 4,001,322 89% 38,887 1.94% 3,471,702 88% 23,815 1.37% 3,560,014 88% 55,914 1.57% 
due to and 
placements from 
banks and other 
financial institutions, 
and due to central 
banks 
371,143 8% 4,122 2.22% 336,394 9% 2,827 1.68% 355,856 9% 6,512 1.83% 
special purpose 
borrowings and 
bonds issued 
112,108 3% 2,292 4.09% 113,672 3% 2,166 3.81% 115,843 3% 4,514 3.90% 
sub-total 4,484,573 100% 45,301 2.02% 3,921,768 100% 28,808 1.47% 4,031,713 100% 66,940 1.66% 
net interest income 54,476 48,658 100,405 
net interest spread2 
(%) 2.12% 2.20% 2.21% 
net interest margin3 
(%) 2.26% 2.31% 2.32% 
* include the balance of certificates of deposits issued. 
the following table illustrates changes in the group's net interest income arising from changes of volume and interest rate factors4. 
variances caused by changes in both volume and rate are attributed to interest rate factor. 
1 includes trading and other debt securities at fair value through profit or loss and debt securities investment. 
2 net interest spread=average yield of interest-earning assets - average cost of interest-bearing liabilities 
3 net interest margin=net interest income / average balance of interest-earning assets 
4 volume variance is calculated based on movements in average balances of interest-earning assets and interest-bearing liabilities in 
the report period; and interest rate variance is calculated based on changes in average interest rates on interest-earning assets and 
interest-bearing liabilities in the report period. 
13 
half year ended 30 june 2006 vs half year ended 30 june 2005 
unit: rmb million 
volume interest rate total 
interest income 
loans 2,269 6,120 8,389 
debt securities 6,534 4,210 10,744 
due from and placements with banks 
and other financial institutions, and due 
from central banks 
488 2,690 3,178 
sub-total 9,291 13,020 22,311 
interest expense 
deposits from customers (3,628) (11,444) (15,072) 
due to and placements from banks and 
other financial institutions, and due to 
central banks 
(292) (1,003) (1,295) 
special purpose borrowings and bonds 
issued 30 (156) (126) 
sub-total (3,890) (12,603) (16,493) 
net interest income 5,401 417 5,818 
interest income 
the group’s interest income was rmb99.777 billion in the first half of 2006, a year-on-year increase of rmb22.311 billion or 
28.80%. the growth is attributed to the size expansion as well as the increase of average interest rate of interest-earning assets. the 
average balance of interest-earning assets increased by 14.35% form rmb4,218.619 billion as at 30 june 2005 to rmb4,824.044 
billion as at 30 june 2006. the average interest rate of interest-earning assets climbed by 47 basis points from 3.67% in the first half 
of 2005 to 4.14% in the first half of 2006. 
loans 
the group achieved a loan interest income of rmb60.36 billion in the first half of 2006, a year-on-year increase of rmb8.389 
billion or 16.14%. the growth is mainly due to a 54 basis points increase in the average yield of loans from 4.73% in the first half of 
2005 to 5.27% in the first half of 2006, and a 4.37% increase in the average balance of loans from rmb2,196.061 billion in the first 
half of 2005 to rmb2,291.998 billion in the first half of 2006. the group strictly controlled the loan quality, and achieved a steady 
growth of loans to customers. the growth of the average yield of loans is mainly due to the following factors: (1) continuous pickup 
of foreign currency interest rates; (2) upward adjustment of the benchmark interest rate of rmb loans by people’s bank of china; 
and (3) continuous improvement in the bank’s loan quality. influenced by the low interest rate in rmb money market, the discount 
yield was under pressure, thus partly offset the rapid growth of interest income. 
debt securities 
in the first half of 2006, the group achieved an interest income of rmb30.652 billion from debt securities, a year-on-year increase of 
rmb10.744 billion or 53.97%. the main reason is that the average balance of debt securities soared by 32.80% from rmb1,383.481 
billion in the first half of 2005 to rmb1,837.222 billion in the first half of 2006, and the average yield of securities increased by 46 
basis points from 2.88% in the first half of 2005 to 3.34% in the first half of 2006. the increase in average balance is primarily due to 
the following factors: (1) with continuous increase in deposits from customers, the group invested the funds not used as loans in 
securities which have higher yield than due from and placements with banks and other financial institutions and due from central 
banks; and (2) the group continued to optimize the asset portfolio by reducing the proportion of relatively lower yield due from and 
placements with banks and other financial institutions in the portfolio. increase in average yield was attributable to the increased 
yield of foreign currency securities, which offset the impacts of lower interest rate in the domestic rmb money market. 
due from and placements with banks and other financial institutions and due from central banks 
14 
the group achieved an interest income of rmb8.765 billion from due from and placements with banks and other financial 
institutions and due from central banks in the first half of 2006, a year-on-year increase of rmb3.178 billion or 56.88%. the increase 
is mainly due to: (1) 77 basis points increase in the average yield from 1.75% in the first half of 2005 to 2.52% in the first half of 
2006 driven by the continuous increase of the average yield of foreign currency assets; and (2) the 8.72% increase in average balance 
from rmb639.077 billion in the first half of 2005 to rmb694.824 billion in the first half of 2006 which was attributable to the 
growth of deposit reserves placed with central banks as a result of increasing customer deposits, though partly offset by the reduction 
of low yield due from and placements with banks and other financial institutions. 
interest expense 
in the first half of 2006, the group’s interest expense was rmb45.301 billion, a year-on-year increase of rmb16.493 billion or 
57.25%. the growth is attributable to the size expansion as well as the increase of the average cost of interest-bearing liabilities. the 
average balance of interest-bearing liabilities increased by 14.35% from rmb3,921.768 billion in the first half of 2005 to 
rmb4,484.573 billion in the first half of 2006, and the average cost of interest-bearing liabilities rose by 55 basis points from 1.47% 
in the first half of 2005 to 2.02% in the same period of 2006. 
deposits from customers 
in the first half of 2006, the interest expense for deposits from customers was rmb38.887 billion, a year-on-year increase of 
rmb15.072 billion or 63.29%. the increase in interest expense is mainly attributable to a 57 basis points increase in the interest rate 
from 1.37% in the first half of 2005 to 1.94% in the same period of 2006, and an rmb529.62 billion or 15.26% increase in the 
average balance of deposits from customers from rmb3,471.702 billion in the first half of 2005 to rmb4,001.322 billion in the 
same period of 2006. the growth of interest rate of deposits from customers is principally due to: (1) significant increase in the 
interest rate of low balance foreign currency deposits ; and (2) continuous growth of the overseas market interest rate. the growth of 
the average balance of deposits from customers is largely due to the rapid growth of rmb business with the rapid development of the 
chinese economy, which offset the decline of domestic foreign currency deposits caused by the expectation of rmb appreciation. 
due to and placements from banks and other financial institutions and due to central banks 
in the first half of 2006, the group’s interest expense for due to and placements from banks and other financial institutions and due to 
central banks was rmb4.122 billion, a year-on-year increase of rmb1.295 billion or 45.81%. the growth is primarily attributable to 
a rise in the cost of foreign currency funds with a 54 basis points increase in the interest rate from 1.68% in the first half of 2005 to 
2.22% in the same period of 2006. although the average balance increased by 10.33% from rmb336.394 billion in the first half of 
2005 to rmb371.143 billion in the same period of 2006, the proportion of due to and placements from banks and other financial 
institutions in the interest-bearing liabilities declined from 9% in the first half of 2005 to 8% in the same period of 2006. 
special purpose borrowings and bonds issued 
in the first half of 2006, the group’s interest expense for the special purpose borrowings and bonds issued was rmb2.292 billion, a 
year-on-year increase of rmb126 million or 5.82%. the increase is primarily attributable to the growth of fund cost, with the interest 
rate rising by 28 basis points from 3.81% in the first half of 2005 to 4.09% in the same period of 2006. 
net interest margin and net interest spread 
in the first half of 2006, the group’s net interest spread declined by 8 basis points to 2.12%. due to increase in interest rate, 
contribution from cost free funds increased by 3 basis points; and net interest margin decreased by 5 basis points to 2.26%. the 
decrease in interest margin is mainly attributable to: (1) the proportion of debt securities to interest-earning assets increased by 5 
percentage points, yet the increase of yield was offset by the low interest rate in rmb money market; (2) due to rapid increase in 
interest-earning assets and the bank’s prudence in balancing risk and return, the proportion of loans in the interest-earning assets 
declined and more funds were invested in the debt market; and (3) the cost of foreign currency fund increased. 
in the first half of 2006, based on the market forecast and development needs of assets and liabilities business, the group intensified 
15 
its efforts to absorb rmb deposits, and optimized asset and liability structure. the robust growth in various business lines mitigated 
the negative impact of the decrease in interest spread. the net interest income increased by 11.96% from rmb48.658 billion in the 
first half of 2005 to rmb54.476 billion in the same period of 2006. 
non-interest income 
in the first half of 2006, the group achieved a net non-interest income of rmb10.126 billion, a year-on-year increase of rmb2.105 billion 
or 26.24%. 
unit: rmb million 
half year ended 30 
june 2006 
half year ended 30 
june 2005 
year ended 31 
december 2005 
net fee and commission income 6,841 4,518 9,247 
net trading income (193) 2,993 4,482 
investment gains/losses 1681 149 (248) 
other operating income, net 1,797 361 2,142 
total 10,126 8,021 15,623 
net fee and commission income 
unit: rmb million 
half year ended 30 
june 2006 
half year ended 30 
june 2005 
year ended 31 december 
2005 
settlement and clearing fees 1,794 1,287 2,941 
agency commissions 2,201 1,235 2,735 
credit commitment fees and commissions 1,438 1,308 2,693 
bank card fees 1,365 1,049 2,340 
custodian and other fiduciary service fees 248 235 483 
others 1,120 801 1,506 
fee and commission income 8,166 5,915 12,698 
fee and commission expense (1,325) (1,397) (3,451) 
net fee and commission income 6,841 4,518 9,247 
in the first half of 2006, the group achieved a net fee and commission income of rmb6.841 billion, a year-on-year increase of 
rmb2.323 billion or 51.42%. the increase was mainly attributed to the group’s intensified efforts to drive the growth in fee-based 
businesses. as a result, significant increase was recorded in agency commissions, settlement and clearing fees, and bank card fees. 
agency commission of the group reached rmb2.201 billion, a year-on-year increase of rmb966 million or 78.22%. the growth is 
mainly attributable to increased sales of products and services such as treasury bonds, investment funds and insurance. 
settlement and clearing fees of the group stood at rmb1.794 billion, a year-on-year increase of rmb507 million or 39.39%. the 
growth is primarily attributable to the rapid growth of businesses such as factoring and l/c settlement and personal electronic 
remittance. 
bank card fees of the group reached rmb1.365 billion, a year-on-year increase of rmb316 million or 30.12%. the growth is 
16 
mainly attributable to the intensified efforts of the group on promoting bank cards business in line with market changes and customer 
demand, which led to continuous increase in new card issuance, transaction volume and frequency of atm transactions. 
net trading income 
unit: rmb million 
half year ended 30 june 
2006 
half year ended 30 
june 2005 
year ended 31 december 
2005 
net gains from foreign exchange and foreign exchange 
products 1,302 3,322 2,518 
net gains from interest rate products (1,495) (329) 1,964 
total (193) 2,993 4,482 
the group suffered a net trading loss of rmb193 million in the first half of 2006, a year-on-year decline of rmb3.186 billion or 
106.45%. 
in the first half of 2006, the domestic operations’ spread income from foreign exchange dealings was rmb2.728 billon, a 
year-on-year increase of rmb804 million or 41.79%. the increase is mainly attributable to the change in foreign exchange rate and 
moderate liberalization of personal limits that spurred the growth of personal foreign exchange transactions. during the same period, 
due to interest rate volatility, the group suffered a loss from interest rate instruments of rmb1.495 billion, a year-on-year decrease of 
rmb1.166 billion or 354.41%. 
starting from 21 july 2005, the people’s bank of china (the central bank) adopted a managed floating exchange rate regime. as a 
result of rmb appreciation, the group suffered a net loss of rmb3.5 billion on foreign currency exposure under the restricted 
foreign exchange capital account in the first half of 2006. at the same time, the foreign exchange option contract entered between the 
group and central safe investments limited gave rise to an evaluation gain of rmb300 million. should the above factors be 
excluded, the bank’s net trading income has increased by rmb14 million year-on-year. 
investment income 
unit: rmb million 
half year ended 30 june 
2006 
half year ended 30 
june 2005 
year ended 31 december 
2005 
gains from equity investment 1,587 125 678 
incl.: net gains from investment in associates 339 48 166 
net gains from other equity investments 1,248 77 512 
(losses)/gains from debt investment 94 24 (926) 
total 1,681 149 (248) 
in the first half of 2006, the group’s investment income rocketed by rmb1.532 billion or 1028.19% to rmb1.681 billion. the 
increase is mainly attributable to: (1) the group acquired an additional 5% stake in september 2005 in huaneng international power 
development corporation and thus held 20% stake in total, investment income from which was accounted for based on equity 
method and recognized in net gains from investment in associates; (2) the group sold shares of boc group life assurance limited 
to boc hong kong (holdings) limited; and (3) the investment income of boc international increased. 

17 
other operating income, net 
unit: rmb million 
half year ended 30 june 
2006 
half year ended 30 
june 2005 
year ended 31 december 
2005 
other operating revenues 5,366 2,767 6,617 
insurance premium 4,286 2,624 5,237 
others 1,080 143 1,380 
other operating expense (3,569) (2,406) (4,475) 
insurance claims expense (3,423) (2,168) (3,861) 
others (146) (238) (614) 
total 1,797 361 2,142 
in the first half of 2006, the group’s net income from other operations grew by rmb1.436 billion or 397.78% to rmb1.797 billion, 
which was largely due to the continuous increase in the income from the group’s insurance business and subsidiaries’ other operating 
activities. 
operating and administrative expense 
unit: rmb million 
half year ended 30 june 
2006 
half year ended 30 june 
2005 
year ended 31 december 
2005 
staff cost 13,278 11,654 23,979 
general operating and administrative expense 7,174 6,208 15,742 
depreciation 2,741 3,138 5,883 
total 23,193 21,000 45,604 
in the first half of 2006, the group’s operating and administrative expenses totaled rmb23.193 billion, a year-on-year increase of 
rmb2.193 billion or 10.44%. the increase is mainly attributable to the following factors: (1) the group continued the staff 
compensation reform to enhance its competitiveness; (2) the group implemented the annuity plan; (3) expenses for supporting the 
group’s business growth increased with the expansion of business and increasingly fierce market competition; and (4) depreciation 
expense continued to decline as a result of factors such as the sale and disposal of fixed assets in previous years. 
impairment losses 
unit: rmb million 
half year ended 30 
june 2006 
half year ended 30 june 
2005 
year ended 31 
december 2005 
provision for loan losses 5,062 4,718 10,888 
(write-back of)/provision for impairment of foreclosed 
assets 
(131) 96 133 
(write-back of)/provision for impairment of other 
receivables 
(55) 206 498 
write-back of impairment of fixed assets and others - (444) (534) 
total 4,876 4,576 10,985 
in the first half of 2006, the group’s asset impairment losses increased by rmb300 million or 6.56%. 
provision for interest receivable and other bad debt receivables 
as provided in the accounting system for financial institutions issued by the ministry of finance, financial institutions should 
analyze the recoverability of receivables (including fund placement and premium receivable, but not including interest receivable), 
18 
forecast bad debt losses, and make provision for bad debt losses that are estimated to occur. when loan interest receivable or 
corresponding loan principal is overdue for more than 90 days, the interest receivable should be transferred off balance sheet, and the 
interest income and interest receivable that have been recognized should be reversed. the age of interest receivable is within 90 days. 
in the report period, the group’s bad debt provision was detailed as follows: 
unit: rmb million 
at 30 june 2006 at 31 december 2005 increase 
other receivables 17,538 14,275 3,263 
balance of bad debt 
provision 3,874 3,878 (4) 
income tax analysis 
in the first half of 2006, the group’s income tax expense was rmb12.362 billion, a year-on-year increase of rmb1.502 billion or 
13.83%. the group’s effective tax rate was 36.34%, a year-on-year decrease of 0.38 percentage points. 
balance sheet analysis 
unit: rmb million 
at 30 june 2006 at 31 december 
2005 
at 31 december 
2004 
debt securities1 1,988,271 1,669,591 1,309,479 
due from banks, placements with banks and 
other financial institutions, and due from 
central banks 
640,765 661,478 631,727 
net loans 2,317,408 2,151,893 2,071,693 
fixed assets and construction in progress 75,148 76,320 79,302 
total assets 5,226,933 4,742,806 4,270,443 
due to banks, placements from banks and 
other financial institutions, and due to 
central banks 
388,844 375,288 318,443 
deposits from customers 4,053,024 3,703,777 3,342,477 
special purpose borrowings and bonds 
issued 109,799 112,343 95,802 
total liabilities 4,840,480 4,480,186 4,037,705 
minority interests 28,812 28,778 27,387 
total equity 357,641 233,842 205,351 
total equity and liabilities 5,226,933 4,742,806 4,270,443 
1 including securities available-for-sale, securities held-to-maturity, loans and receivables, trading and other debt securities at fair 
value through profit or loss. 
19 
debt securities 
unit: rmb million 
at 30 june 
2006 
at 31 december 
2005 
at 31 december 
2004 
trading and other bonds at fair value through profit or loss 110,602 107,271 91,012 
debt securities available-for-sale 919,175 593,010 346,532 
debt securities held-to-maturity, net 569,126 607,459 457,994 
debt securities classified as loans and receivables, net 389,368 361,851 413,941 
total 1,988,271 1,669,591 1,309,479 
as of 30 june 2006, security assets of the group reached rmb1,988.271 billion, an increase of rmb318.68 billion or 19.09% over 
31 december 2005. the increase was mainly attributed to the growth of rmb3,26.165 billion in debt securities available-for-sale. 
loans 
as of 30 june 2006, the group had a total loan portfolio of rmb2,405.536 billion, an increase of rmb170.49 billion or 7.6% over 
the previous year-end. loans by domestic operations were rmb1,972.631 billion, an increase of rmb172.708 billion or 9.6% over 
the previous year-end. loans by domestic operations of eastern region grew at the highest rate, with an rmb93.81 billion or 13.1% 
increase over the previous year-end. 
loan portfolio concentrations by geographic region 
loan portfolio concentrations of the group by region 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
domestic operations 1,972,631 82.00% 1,799,923 80.53% 1,734,302 80.80% 
overseas operations 432,905 18.00% 435,123 19.47% 412,160 19.20% 
total 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 
domestic loans by geographic region 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
domestic balance proportion (%) balance proportion (%) balance proportion (%) 
northern region 353,477 17.92% 322,451 17.91% 313,843 18.10% 
northeastern region 135,087 6.85% 131,430 7.30% 128,374 7.40% 
eastern region 813,572 41.24% 719,759 39.99% 679,773 39.20% 
central & southern 
region 470,372 23.85% 444,869 24.72% 433,860 25.02% 
western region 200,123 10.14% 181,414 10.08% 178,452 10.28% 
total 1,972,631 100.00% 1,799,923 100.00% 1,734,302 100.00% 
note: northern region includes beijing municipality, tianjin municipality, hebei province, shanxi province, inner mongolia autonomous 
region, and the head office of boc; 
northeastern region includes heilongjiang province, jilin province, and liaoning province; 
20 
eastern region includes shanghai municipality, jiangsu province, zhejiang province, anhui province, fujian province, jiangxi province, 
and shandong province； 
central & southern region includes henan province, hubei province, hunan province, guangdong province, shenzhen city, guangxi 
autonomous region, and hainan province; 
western region includes chongqing municipality, sichuan province, guizhou province, yunnan province, shaanxi province, gansu 
province, ningxia autonomous region, qinghai province, tibet autonomous region, and xinjiang uighur autonomous region. 
industry concentration of the group’s loans 
as of 30 june 2006, the outstanding balance of the group’s corporate loans was rmb1,864.081 billion, an increase of rmb 152.038 
billion or 8.9% from the beginning of the year. these loans were mainly concentrated in the sectors of manufacturing, commerce and 
services, accounting for 31.75% and 17.35% of total corporate loans respectively. industry concentration of corporate loans by 
domestic operations was consistent with the overall characteristics of the group. 
industry concentration of corporate loans by the group 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
manufacturing 591,909 31.75% 531,191 31.03% 523,506 31.70% 
commerce and 
services 323,348 17.35% 301,863 17.63% 348,432 21.10% 
real estate 201,585 10.82% 190,297 11.11% 187,110 11.40% 
energy, mining 
and agriculture 252,415 13.54% 230,854 13.48% 203,544 12.30% 
transportation 200,503 10.76% 193,428 11.30% 184,449 11.10% 
public utilities 104,827 5.62% 91,924 5.37% 87,731 5.30% 
construction 38,304 2.05% 36,050 2.11% 36,059 2.20% 
financial services 112,153 6.02% 96,245 5.62% 46,518 2.80% 
others 39,037 2.09% 40,191 2.35% 35,072 2.10% 
total 1,864,081 100.00% 1,712,043 100.00% 1,652,421 100.00% 
industry concentration of corporate loans by domestic operations 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
manufacturing 543,831 34.68% 490,898 34.57% 497,317 36.10% 
commerce and services 276,491 17.64% 255,460 17.99% 284,772 20.60% 
real estate 104,121 6.64% 96,390 6.79% 100,932 7.30% 
energy, mining and 
agriculture 233,357 14.88% 210,281 14.81% 186,942 13.50% 
transportation 173,417 11.06% 165,396 11.65% 157,762 11.40% 
public utilities 104,827 6.69% 91,924 6.47% 87,731 6.30% 
construction 32,940 2.10% 30,089 2.12% 27,938 2.00% 
financial services 96,440 6.15% 77,237 5.44% 32,079 2.30% 
others 2,512 0.16% 2,290 0.16% 7,484 0.50% 
total 1,567,936 100.00% 1,419,965 100.00% 1,382,957 100.00%
21 
loans of the group by customers 
as of 30 june 2006, the outstanding balance of the group’s corporate loans was rmb1,864.081 billion, an increase of rmb152.038 
billion or 8.9% from the prior year-end, accounting for 77.5% of the total. the outstanding balance of personal loans was rmb541, 
455 million, an increase of rmb18.452 billion or 3.5% from the prior year-end, accounting for 22.5% of the total. the balance of 
domestic corporation loans increased by rmb147.971 billion or 10.4% compared with the previous year-end, and the balance of 
personal loans increased by 6.5% or rmb 24.737 billion. 
loans of the group by customers 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
corporate loans 1,864,081 77.49% 1,712,043 76.60% 1,652,421 76.98% 
trade bills 269,713 11.21% 225,026 10.07% 177,738 8.28% 
personal loans 541,455 22.51% 523,003 23.40% 494,041 23.02% 
total 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 
loans of domestic operations by customers 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
corporate loans 1,567,936 79.48% 1,419,965 78.89% 1,382,957 79.74% 
trade bills 240,826 12.21% 195,311 10.85% 148,832 8.58% 
personal loans 404,695 20.52% 379,958 21.11% 351,345 20.26% 
total 1,972,631 100.00% 1,799,923 100.0% 1,734,302 100.00% 
personal loans of domestic operations by products 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
mortgage 308,387 76.20% 286,829 75.49% 240,640 68.49% 
credit cards 2,212 0.55% 1,929 0.51% 1,441 0.41% 
others 94,096 23.25% 91,200 24.00% 109,264 31.10% 
total 404,695 100.00% 379,958 100.00% 351,345 100.00% 
notes: others mainly include auto loans, personal investment loans and personal education loans. 
loans of the group by currencies 
as of 30 june 2006, the outstanding balance of the group’s loans in rmb was rmb1,643.896 billion, an increase of rmb166.037 
billion or 11.2% from the beginning of the year. it accounted for 68.3% of the total. 
loans of the group by currencies 
unit: rmb million
22 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
rmb 1,643,896 68.34% 1,477,859 66.12% 1,378,760 64.23% 
foreign 
currencies 761,640 31.66% 757,187 33.88% 767,702 35.77% 
total 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 
loans of domestic operations by currencies 
unit: rmb million 
at 30 june 200630 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
rmb 1,641,482 83.21% 1,475,821 82.00% 1,378,343 79.50% 
foreign 
currencies 331,149 16.79% 324,102 18.00% 355,959 20.50% 
total 1,972,631 100.00% 1,799,923 100.00% 1,734,302 100.00% 
loans of the group by types of security 
as of 30 june 2006, a large proportion of the group’s loans were secured, accounting for 45.85% of the total. unsecured loans 
accounted for 24.1%. 
loans of the group by types of security 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
types of security balance proportion (%) balance proportion (%) balance proportion (%) 
unsecured 578,987 24.08% 475,764 21.29% 447,800 20.86% 
guaranteed 723,502 30.07% 684,824 30.64% 650,905 30.32% 
collateralized and 
other secured 1,103,047 45.85% 1,074,458 48.07% 1,047,757 48.82% 
total 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 
quality of the group’s loans 
as of 30 june 2006, the group’s total impaired loans were rmb105.944 billion, a decrease of rmb3.367 billion over the previous 
year-end; and the impaired loan ratio was 4.4%, a decrease of 0.49 percentage points. the impaired loans of domestic operations 
were rmb99.543 billion, a decrease of rmb2.579 billion over the previous year-end; and the impaired loan ratio was 5.05%, a 
decrease of 0.62 percentage points. the impaired loans of overseas operations were rmb6.401 billion, a decrease of rmb770 
million over the previous year-end; and the impaired loan ratio was 1.48%, a decrease of 0.17 percentage points. 

23 
impaired loan portfolio concentrations of the group by region 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance 
proportion 
(%) 
impaired 
loan ratio balance 
proportion 
(%) 
impaired loan 
ratio balance 
proporti 
on (%) 
impaired 
loan ratio 
domestic 
operations 
99,543 93.96% 5.05% 102,140 93.44% 5.67% 104,327 88.3% 6.02% 
overseas 
operations 
6,401 6.04% 1.48% 7,171 6.56% 1.65% 13,830 11.7% 3.36% 
total 105,944 100.00% 4.40% 109,311 100.00% 4.89% 118,157 100.0% 5.50% 
notes: 
1. if objective impairment evidence shows that the future cash flow of loans will decreases and the amount can be estimated, then the 
bank identifies the loan as impaired loan and recognize the losses as well. 
2. impaired loan ratio is calculated by dividing the balance of impairment loans with the balance of total loans. 
impaired loan portfolio concentrations of domestic operations by region 
unit: rmb million 
domestic at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance 
proportion 
(%) 
impaired loan 
ratio 
balance 
proportion 
(%) 
impaired loan 
ratio 
balance 
proportion 
(%) 
impaired 
loan ratio 
northern 
region 
18,457 18.54% 5.22% 17,699 17.30% 5.50% 22,600 21.70% 7.20% 
northeastern 
region 
11,968 12.03% 8.84% 12,363 12.10% 9.40% 13,170 12.60% 10.26% 
eastern 
region 
25,962 26.08% 3.19% 27,811 27.20% 3.90% 28,595 27.40% 4.21% 
central & 
southern 
region 
30,071 30.21% 6.39% 30,611 30.00% 6.90% 26,611 25.50% 6.13% 
western 
region 
13,085 13.14% 6.54% 13,656 13.40% 7.50% 13,351 12.80% 7.48% 
total 99,543 100.00% 5.05% 102,140 100.00% 5.70% 104,327 100.00% 6.02% 
industry concentration of impaired corporate loans by domestic operations 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance 
proportion 
(%) 
impaired 
loan ratio 
balance 
proportion 
(%) 
impaired loan 
ratio 
balance 
proportion 
(%) 
impaired 
loan ratio 
manufacturing 34,856 38.86% 6.41% 32,969 35.58% 6.76% 32,218 33.37% 6.48% 
commerce and 
services 
23,162 25.83% 8.38% 25,443 27.46% 9.96% 26,344 27.29% 9.25% 
real estate 11,596 12.93% 11.14% 12,763 13.77% 13.24% 13,453 13.93% 13.33%
24 
energy, mining and 
agriculture 
6,624 7.39% 2.84% 6,665 7.19% 3.17% 6,588 6.82% 3.52% 
transportation 7,176 8.00% 4.14% 7,759 8.37% 4.69% 9,729 10.08% 6.17% 
public utilities 4,312 4.81% 4.11% 4,627 4.99% 5.03% 5,564 5.76% 6.34% 
construction 1,717 1.91% 5.21% 2,226 2.40% 7.40% 2,569 2.66% 9.20% 
financial services 235 0.26% 0.24% 215 0.24% 0.28% 72 0.08% 0.22% 
others 6 0.01% 0.26% 0 0.00% 0.00% 6 0.01% 0.08% 
total 89,684 100.00% 5.72% 92,667 100.00% 6.54% 96,543 100.00% 6.98% 
impaired loans of the group by customers 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance 
proportion 
(%) 
impaired 
loan ratio balance balance 
proportion 
(%) 
impaired 
loan ratio balance balance 
corporate loans 95,120 89.78% 5.10% 98,669 90.26% 5.76% 108,005 91.41% 6.54% 
personal loans 10,824 10.22% 2.00% 10,642 9.74% 2.03% 10,152 8.59% 2.05% 
total 105,944 100.00% 4.40% 109,311 100.00% 4.89% 118,157 100.00% 5.50% 
impaired loans of domestic operations by customers 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance 
proportion 
(%) 
impaired 
loan ratio balance 
proportion 
(%) 
impaired 
loan ratio balance 
proportion 
(%) 
impaired 
loan ratio 
corporate loans 89,684 90.10% 5.72% 92,667 90.73% 6.53% 96,543 92.55% 6.99% 
personal loans 9,859 9.90% 2.44% 9,473 9.27% 2.49% 7,784 7.45% 2.22% 
total 99,543 100.00% 5.05% 102,140 100.00% 5.67% 104,327 100.00% 6.02% 
impaired personal loans of domestic operations by products 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance 
proportion 
(%) 
impaired 
loan ratio balance 
proportion 
(%) 
impaired 
loan ratio balance 
proportion 
(%) 
impaired 
loan ratio 
mortgage 3,930 39.87% 1.27% 3,837 40.50% 1.34% 3,608 46.35% 1.50% 
credit cards 267 2.71% 12.08% 228 2.41% 11.82% 218 2.80% 15.13% 
others 5,662 57.42% 6.02% 5,408 57.09% 5.93% 3,958 50.85% 3.62% 
total 9,859 100.00% 2.44% 9,473 100.00% 2.49% 7,784 100.00% 2.22% 
5-category classification of loans 
as of 30 june 2006, the group’s non-performing loans (npls) were rmb100.788 billion in accordance with regulatory 
classification standards, a decrease of rmb2.438 billion over the previous year-end; with npl ratio at 4.19%, a decrease of 0.43 
percentage points. npls of domestic operations were rmb96.519 billion, a decrease of rmb1.69 billion over the previous year-end, 
with npl ratio at 4.89%, a decrease of 0.57 percentage points. loans of the group classified as special mention stood at 
rmb261.788 billion, a decrease of rmb22.26 billion over the previous year-end, accounting for 10.88% of total loans, a decrease of 
25 
1.83 percentage points. 
asset quality of the group 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
pass 2,042,960 84.93% 1,847,772 82.67% 1,611,936 75.10% 
special mention 261,788 10.88% 284,048 12.71% 424,606 19.78% 
substandard 42,082 1.75% 45,573 2.04% 61,289 2.86% 
doubtful 43,479 1.81% 44,550 1.99% 32,931 1.53% 
loss 15,227 0.63% 13,103 0.59% 15,700 0.73% 
total 2,405,536 100.00% 2,235,046 100.00% 2,146,462 100.00% 
total npls 100,788 4.19% 103,226 4.62% 109,920 5.12% 
asset quality of domestic operations 
unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
pass 1,625,776 82.42% 1,430,210 79.46% 1,227,414 70.77% 
special mention 250,336 12.69% 271,504 15.08% 408,571 23.56% 
substandard 40,917 2.07% 44,056 2.45% 57,656 3.32% 
doubtful 41,760 2.12% 42,852 2.38% 29,787 1.72% 
loss 13,842 0.70% 11,301 0.63% 10,874 0.63% 
total 1,972,631 100.00% 1,799,923 100.00% 1,734,302 100.00% 
total npls 96,519 4.89% 98,209 5.46% 98,317 5.67% 
deposits from customers 
unit: rmb million 
at 30 june 2006 at 31 december 
2005 
at 31 december 
2004 
short-term1 corporate deposits 1,467,863 1,323,444 1,150,115 
short-term saving deposits 2,044,461 1,911,921 1,756,312 
long-term2 corporate deposits 32,157 26,317 32,743 
long-term saving deposits 339,763 313,703 296,246 
securities and margin deposits 168,780 128,392 107,061 
total 4,053,024 3,703,777 3,342,477 
as of 30 june 2006, the corporate deposits of the group reached rmb4,053.024 billion，an increase of rmb349.247 billion or 
9.43% over the previous year-end. of them, the corporate and personal deposits increased by rm150.259 billion and 158.6 billion 
respectively. 
1 include demand deposits and time deposits less than (including) one year. 
2 refer to long-term deposits beyond a year. 
26 
deposits from customers by currencies 
as of 30 june 2006, the balance of the group’s rmb deposits increased by rmb344.697 billion or 13.6% from the beginning of the 
year to rmb2,876.575 billion. the balance of rmb deposits accounted for 71% of total deposits. 
unit: rmb million 
equity unit: rmb million 
at 30 june 2006 at 31 december 2005 at 31 december 2004 
minority interests 28,812 28,778 27,387 
equity 357,641 233,842 205,351 
total equity 386,453 262,620 232,738 
in the first half of 2006, the bank issued, at a premium, ordinary shares to the national council for social security fund, and then 
issued, at a premium, overseas listed shares (h shares) to overseas investors and ordinary shares (a shares) to domestic investors. 
for details, please refer to appendix: note iii, 17(1) of the accountants’ report. 
changes in shareholder’s equity within the report period 
unit: rmb million 
share 
capital 
capital 
reserve 
statutory 
reserve 
general and 
regulatory 
reserves 
undistributed 
profit 
reserve for fair value 
changes of 
available-for-sale 
securities 
currency 
translation 
differences 
total 
balance at 1 january 
2006 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
net profit for the 
period - - - - 19,024 - - 19,024 
issue of ordinary 
shares 44,412 72,567 - - - - - 116,979 
appropriation to 
statutory reserves - - 2,108 - (2,108) - - - 
appropriation to 
general and 
regulatory reserves 
- - - 4,291 (4,291) - - - 
net change in fair 
value of 
available-for-sale 
securities 
- - - - - (10,574) - (10,574) 
dividends - - - - (1,375) - - (1,375) 
currency translation 
differences - - - - - - (255) (255) 
others - - - (2) 2 - - - 
balance at 30 june 
2006 253,839 76,545 8,095 9,398 23,837 (11,954) (2,119) 357,641 
at 30 june 2006 at 31 december 2005 at at 31 december 2004 
balance proportion (%) balance proportion (%) balance proportion (%) 
rmb 
2,876,575 70.97% 2,531,878 68.36% 2,093,272 62.63% 
foreign currencies 
1,176,449 29.03% 1,171,899 31.64% 1,249,205 37.37% 
total 
4,053,024 100.00% 3,703,777 100.00% 3,342,477 100.00%
27 
balance of major off-balance sheet items 
the balance of major off-balance sheet items of the group at the end of the reporting period is as follow. 
unit: rmb million 
at 30 june 2006 at 31 december 2005 
acceptance 230,434 195,234 
letter of guarantee issued 255,779 212,987 
letter of credit issued 115,686 101,195 
irrevocable credit commitment and others 422,297 386,346 
total 1,024,196 895,762 
supplementary financial information as of the end of the last three report periods: 
major regulatory indicators 
regulatory 
criteria 
at 30 june 2006 
at 31 december 
2005 
at 31 december 
2004 
capital adequacy ratio (%) ≥8 12.4 10.4 10.0 
core capital adequacy ratio (%) ≥4 10.6 8.1 8.5 
rmb ≥25 32.0 48.9 35.3 
liquidity ratio (%) foreign 
currencies 
≥25 45.8 87.4 78.6 
rmb ≤75 57.2 51.7 59.6 
loan-deposit ratio (%) foreign 
currencies 
≤85 64.7 70.4 67.9 
npl ratio (%) - 4.2 4.6 5.1 
provision coverage (%) ≥60 87.4 80.6 68.0 
proportion of single largest 
customer loans (%) 
≤10 3.9 4.7 3.4 
proportion of loans to top 10 
customers (%) 
≤50 19.3 25.6 25.4 
the above regulatory indicators are calculated in accordance with relevant provisions of cbrc, and the financial figures are based 
on the accounting standards for business enterprises and the accounting systems for financial enterprises. the liquidity ratio is 
calculated in accordance with relevant provisions of cbrc in 2006. 
capital adequacy ratio 
the bank calculates and discloses the capital adequacy ratio in line with the management measures on capital adequacy ratio of 
commercial banks (cbrc decree [2004] no.2) promulgated by the china banking regulatory commission (cbrc) on 23 
february 2004. in 2005, the group calculated market risk capital in line with the provisions of the circular of the general office of 
china banking regulatory commission on issuing market risk capital calculation sheet and explanation for commercial banks 
(yjf [2004] no.374) promulgated by the cbrc. as of 30 june 2006, the group’s capital adequacy ratio increased by 1.98 
percentage points to 12.40%, while core capital adequacy ratio declined by 2.55 percentage points to 10.63%. 
the group’s net capital amounted to rmb452.027 billion as of 30 june 2006, an increase of rmb125.79 billion. the net core capital 
grew by rmb134.728 billion to rmb387.698 billion, and risk-weighted assets (excluding market risk) increased by rmb370.47 
28 
billion to rmb3,163.659 billion. the market risk assets of the group were rmb38.549 billion, translating into risk assets of 
rmb481.868 billion. 
unit: rmb million/% 
items at 30 june 2006 at 31 december 2005 increase/decrease 
net core capital（a） 387,698 252,970 134,728 
net capital（b） 450,027 326,237 125,790 
risk-weighted assets（c） 3,163,659 2,793,189 370,470 
market risk capital（d） 38,549 27,025 11,524 
core capital adequacy ratio (%)［e=a/(c+d*12.5)］ 10.63% 8.08% 2.55% 
capital adequacy ratio (%)［f=b/(c+d*12.5)］ 12.40% 10.42% 1.98% 
reporting by region 
at 30 june 2006 unit: rmb million 
mainland hong kong & 
macau 
other overseas 
regions eliminations group 
net interest income 45,078 8,549 845 4 54,476 
non-interest income 4,371 6,189 152 (586) 10,126 
operating and administrative 
expenses (18,920) (3,618) (687) 32 (23,193) 
operating profit 27,584 11,091 297 (550) 38,422 
(charge)/write-back for 
impairment losses (5,932) 935 121 - (4,876) 
gross profit 21,824 12,284 455 (550) 34,013 
income tax (10,751) (1,672) (142) 203 (12,362) 
profit attributable to the 
minority (4) (2,623) - - (2,627) 
net profit 11,069 7,989 313 (347) 19,024 
segment assets 4,268,205 993,715 199,169 (234,156) 5,226,933 
segment liabilities (3,917,105) (897,042) (191,882) 165,549 (4,840,480) 
at 30 june 2005 unit: rmb million 
mainland hong kong & 
macau 
other overseas 
regions eliminations group 
net interest income 40,434 7,380 844 - 48,658 
non-interest income 4,860 2,712 449 - 8,021 
operating and administrative 
expenses (17,046) (3,358) (596) - (21,000) 
operating profit 25,612 6,710 687 - 33,009 
(charge)/write-back for 
impairment losses (6,591) 1,805 210 - (4,576) 
gross profit 19,744 8,882 952 - 29,578 
income tax (9,472) (1,228) (160) - (10,860) 
profit attributable to the 
minority 9 (2,293) - - (2,284) 
net profit 10,281 5,361 792 - 16,434 
segment assets 3,803,989 966,225 186,982 (214,390) 4,742,806 
segment liabilities (3,584,086) (871,046) (178,853) 153,799 (4,480,186)
29 
during the first half of 2006, the chinese mainland remained to be the primary business region of the group and the important 
sources of income and net profit as well, accounting for 78% of total assets and 57% of total profit of the group. hong kong and 
macau were also key business regions of the group, accounting for 18% of total assets and 41% of total profit of the group. 
reporting by business line 
at 30 june 2006 unit: rmb million 
corporate 
banking 
personal 
banking 
treasury 
services 
investment 
banking 
insurance 
business others eliminations total 
net interest income 26,602 16,881 11,376 19 250 (656) 4 54,476 
non-interest income 5,029 4,147 (1,471) 1,324 198 1,536 (637) 10,126 
operating and 
administrative expenses (8,588) (11,677) (2,876) (224) (103) (406) 681 (23,193) 
operating profit 21,565 8,892 6,006 1,117 342 452 48 38,422 
(charge)/write-back for 
impairment losses (4,202) (720) 1 (5) 6 44 - (4,876) 
gross profit 17,419 8,299 6,052 1,110 388 1,295 (550) 34,013 
segment assets 1,813,042 637,280 2,692,140 18,079 17,153 84,279 (35,040) 5,226,933 
capital expenditure 416 782 31 6 2 953 - 2,190 
at 30 june 2005 unit: rmb million 
corporate 
banking 
personal 
banking 
treasury 
services 
investment 
banking 
insurance 
business others eliminations total 
net interest income 25,744 16,021 7,056 63 183 (409) - 48,658 
non-interest income 4,135 2,558 746 335 46 243 (42) 8,021 
operating and 
administrative expenses (7,876) (10,148) (2,680) (195) (88) (301) 288 (21,000) 
operating profit 20,548 7,995 4,362 201 140 (483) 246 33,009 
(charge)/ write-back for 
impairment losses (5,471) 819 19 1 (2) 58 - (4,576) 
gross profit 15,184 9,029 4,452 203 134 576 - 29,578 
segment assets 1,658,718 603,891 2,399,377 15,159 12,398 77,644 (24,381) 4,742,806 
capital expenditure 342 665 32 4 25 698 - 1,766 
with effect from 1 january 2006, the internal funding transfer pricing mechanism of the bank was revised. the new pricing 
mechanism is based on the market deposit and lending rates, adjusted for pre-determined margins with reference to the different 
products and respective maturities. previously, blended mid prices between the bank’s average cost of funding and average yield 
on interest bearing assets were adopted, without taking into consideration the variety of products and respective maturities. the 
reason for the change is primarily to better reflect the performance of the individual segments as part of the bank’s efforts to enhance 
its assets and liabilities management capability. above segment information at 30 june 2006 is based on the new transfer pricing. 
30 
business overview 
commercial banking business 
the bank operates three principal lines of business – commercial banking, investment banking and insurance. with a global presence 
in 27 countries and regions, we maintain correspondent relationships with over 1,400 foreign banks which collectively have 46,900 
branches worldwide. leveraging our global network, quality services, and operational strengths, we enjoy a distinctive competitive 
advantage in the domestic banking market. 
corporate banking 
corporate banking refers to a variety of financial products, credit facilities and financial solutions that we provide to our customers, 
including deposit-taking, lending, trade finance, settlement, clearing and custody. 
corporate deposits and loans: the bank continued to strengthen marketing efforts to promote corporate deposits. rmb corporate 
deposits maintained its sustainable and rapid growth momentum which has persisted over the years. as at the end of june 2006, the 
balance of domestic rmb corporate deposits was rmb 1,142.1 billion, an increase of rmb146.7 billion or 14.7% from the prior 
year-end with a market share of 8.2% among all financial institutions1. the bank actively expanded the key customer segment and 
applied differentiation policies in business management and service delivery, leveraged concerted marketing strengths between the 
head office and branches in marketing for key projects and speeded up the development of quality asset business. as at the end of 
june 2006, the outstanding balance of domestic rmb corporate loans stood at rmb 1,236.7 billion, an increase of rmb 140.9 
billion or 12.8% from the prior year-end, representing a market share of 6.7% among all financial institutions. while maintaining the 
stable growth of rmb corporate deposits, the bank also strengthened its efforts in promoting foreign currency corporate deposits in a 
bid to sustain its leading position in the market. as at the end of june 2006, the balance of domestic foreign currency corporate 
deposits was usd 17.67 billion, an increase of usd1.29 billion from the prior year-end, with a market share among all financial 
institutions of 21.1%. fully leveraging its strength in foreign exchange business, the bank actively conducted product innovation and 
seized opportunities to develop its trade finance business, which promoted the growth in foreign currency corporate deposits. by the 
end of the report period, the outstanding balance of domestic foreign currency corporate loans was usd41.44 billion, an increase of 
usd1.28 billion, and the market share among all financial institutions was 33.5%. the balance of foreign currency corporate 
deposits of overseas operations was usd27 billion, and outstanding balance of foreign currency corporate loans was usd 37.04 
billion. 
corporate deposits of the group by currencies (unit: rmb billion) 
30 june 2006 31 december 2005 
rmb corporate deposits 1,143.1 995.9 
foreign currency corporate deposits 356.9 353.9 
total corporate deposits 1,500 1,349.8 
in the first half of 2006, the bank devoted great efforts to expand its high-quality customers segment, and forged ahead with 
1 all financial institutions include: people’s `bank of china, policy banks, state-owned commercial banks, other commercial banks, 
urban commercial banks, rural commercial banks, urban credit cooperatives, rural cooperative banks, rural credit 
cooperatives, financial companies, trust and investment corporations, leasing companies, and savings and remittance 
bureaus. 
31 
reforming the corporate business operation and management model. it continued to strengthen joint marketing between the head 
office and branches on key projects or to key customers, expanded quality asset business, and enhanced cooperation between product 
departments to expand cross selling. it also reinforced collaboration between domestic operations and boc hong kong, boc 
international, boc investment, boc insurance and other overseas operations to promote the overall competitiveness of its corporate 
banking. by launching initiatives such as pilot projects targeting small enterprises and strengthening product innovation, the bank 
seeks to ensure sustainable and healthy development of its corporate business. 
corporate loans of the group by currencies (unit: rmb billion) 
30 june 2006 31 december 2005 
rmb corporate loans 1,239.2 1,097.9 
foreign currency 
corporate loans 
624.9 614.1 
total corporate loans 1,864.1 1,712 
institutional banking: institutional banking business of the bank refers to various asset, liability and fee-based services the bank is 
engaged in by leveraging on its own resources, with a view to serving various financial institutions and generating comprehensive 
benefits. institutional deposits grew rapidly in may-june 2006 as influenced by the stock market. at the end of june 2006, the 
balance of rmb deposits from financial institutions for domestic operations was rmb172.33 billion, an increase of rmb18.27 
billion from the prior year-end. the balance of current and time foreign currency deposits from financial institutions for domestic 
operations was usd9.87 billion, a decrease of usd180 million. 
since 1987, the bank has sequentially designated its new york, tokyo and frankfurt branches as the major clearing channels for us 
dollar, yen and euro respectively. over years’ efforts, the bank has set up a comprehensive overseas clearing system which covers 
different currencies and regions and provides domestic and overseas customers with efficient and convenient clearing services. 
custody and fund distribution: the bank serves as custodian for a diverse range of closed-end funds, open-end funds, brokerage 
wealth management programs, social security fund, insurance companies, qfii, annuity funds, trust companies, asset securitization 
capitals and emerging products such as industry funds and qdii etc. the funds we distribute as agent cover all types of open-end 
funds such as equity, balanced and bond funds, brokerage wealth management program, and investment-linked insurance products. 
in the first half of 2006, the environment of custody and distribution operations improved generally. facing an active stock market, 
investors have quickened the pace of investment and more innovations have been introduced. the fund distribution and custody 
business thus maintained generally healthy and fast development. as at the end of june 2006, total assets in the bank’s custody, 
leading the market, reached nearly rmb210 billion, an increase of 20% over the year beginning. total volume of the bank’s fund 
distributions exceeded rmb28 billion, a year-on-year increase of 50%. 
in the first half of 2006, the bank achieved new breakthroughs in custody business for qfii funds, insurance funds, corporate annuity 
and local social insurance fund, making it the largest chinese qfii custodian. 
international settlement and trade finance: the bank’s international settlement and trade finance services include issuance of 
import letters of credit, collection and presentation of document under export letter of credit, import bill advance, export bill purchase, 
forfeiting, confirmation of letters of credit, letter of guarantee and factoring. in addition to traditional international settlement and 
trade finance services, the bank also exclusively provides such services as processing trade account services, tax payment guarantee 
etc, meeting customers’ different settlement and financing needs. 
during the first half of 2006, the total volume of international settlements reached usd420.49 billion, an increase of 12.6% 
year-on-year. of the total amount, usd269.9 billion was carried out by the group’s domestic operations, a year-on-year increase of 
10.7%, and usd150.5 billion was by overseas operations, a year-on-year increase of 16.2%. thanks to the steady growth of domestic 
economy, the volume of domestic trade finance surged sharply, with factoring business climbing 223%. the growth of international 
trade finance slowed down due to the pickup of interest rate in the international market. in the first half of 2006, the group undertook 
32 
total volume of international trade finance of usd29.17 billion, a year-on-year increase of 13.3%. of the total amount, usd13.14 
billion was undertaken by domestic operations, and usd19.91 billion was by overseas operations. the volume of letters of guarantee 
denominated in foreign currencies issued by domestic operations was usd4.77 billion，a year-on-year increase of 83.5%; and those 
denominated in rmb was rmb37.3 billion, a year-on-year increase of 109.5%. the volume of international factoring transactions 
undertaken by domestic operations was usd2.58 billion, representing an increase of 27.4% over the same period in last year; and the 
volume of domestic factoring transactions was rmb12.76 billion, reflecting a year-on-year increase of 192.3%. 
international settlement volume of the group (unit: usd billion) 
year 30 june 2006 30 june 2005 
business volume 420.49 373.39 
the bank strengthened innovation and improved portfolioed application of trade finance and fee-based products in the first half of 
2006. a series of competitive products were launched, including “export quan yi da, import hui li da, import bao fu da, and 
e-customs declaration”. the bank also developed such new products and services as forfeiting under export credit insurance. these 
product innovations highlighted the bank’s distinctive advantages in its products and services of international settlement and trade 
finance, and have helped to consolidate its leadership in this arena. 
personal banking 
personal banking refers to the financial services provided by the bank to residents or households, including deposit-taking, lending, 
wealth management and bank card services. 
savings deposits: as at the end of june 2006, the balance of domestic rmb savings deposits was rmb 1,573.8 billion, an increase 
of rmb157.44 billion over the prior year-end, representing a market share of 10.2%, an increase of 0.1 percentage point. the 
balance of domestic foreign currency savings deposits totaled usd31.69 billion, a decrease of usd820 million from the prior 
year-end, representing a market share of 49.8%. savings deposits at overseas operations amounted to usd69.68 billion (including 
rmb8.97 billion of savings deposits), an increase of usd1.91 billion. the decrease of foreign currency savings deposits was mainly 
attributable to the reform of the rmb exchange rate regime, which buoyed the market’s expectation of further rmb appreciation and 
weakened residents’ desire to hold such deposits. 
group savings deposits of the group by currencies (unit: rmb billion) 
at 30 june 2006 at 31 december 2005 
rmb savings deposits 1,582.7 1,425.4 
foreign currency 
savings deposits 
801.5 800.2 
total savings deposits 2,384.2 2,225.6 
personal loans at the end of june 2006, the outstanding balance of domestic personal loans was rmb 404.7 billion, an increase of 
rmb 24.7 billion from the prior year-end. of the total personal loans, the balance of residential mortgage loans was rmb 308.4 
billion, an increase of rmb 21.6 billion. the balance of overseas personal loans was usd 17.1 billion, a decrease of usd620 
million from the prior year-end. 
in the first half of 2006, the bank strengthened marketing efforts of personal residential mortgage loans through its direct-sale model 
under a unified brand, i.e. “ideal home”, and launched two competitive new products, namely “yi ju bao” first-hand residential 
mortgage loans and “an ju bao” second-hand residential mortgage loans. it also promoted strategic cooperation with leading real 
estate developers in china. as at end of june 2006, the bank has a network of over 7,000 domestic outlets offering consumer loans 
through direct-sale model, accounting for more than 60% of all its outlets in the country. 
33 
personal loans of the group by categories as of june 2006 
residential mortgage 
loans 
auto loans credit cards and others 
30 june 2006 79.07% 4.50% 16.43% 
31 december 2005 78.97% 5.35% 15.68% 
note: (1) others include personal investment and operation loan and personal loans to finance education. 
wealth management in the first half of 2006, the bank launched “boc global wealth management service” in the wealth 
management centers of domestic operations. over 250 wealth management centers are capable of offering services of unified service 
standard to the bank’s vip customers. during the period, the bank also launched a series of foreign exchange wealth management 
products which are linked to the performance of exchange rate, oil and gold, and rmb structured wealth management products 
which are linked to the performance of exchange rate and gold. an advisory team was established comprising over 20 experts from 
the global markets department and personal banking department of the head office, boc hong kong, boci and boci china, to 
promote the “boc wealth management” brand among customers. the bank has also built a stronger wealth management team with 
over 2, 300 wealth management managers at various domestic branches, of whom nearly 900 are certified financial planner. 
bank cards 
the bank provides customers with such bank card services as single and dual-currency debit cards, quasi-credit cards, credit cards 
and foreign currency card agency transaction services. 
in the first half of 2006, the bank steadily pushed forward the establishment of the credit card business unit in cooperation with the 
royal bank of scotland group. it also strengthened the operation and risk management of bank card business, actively promoted per 
card transaction volume and usage frequency and steadily increased bank card business income. the bank’s domestic operations 
realized total bank card fees of rmb960 million, a year-on-year increase of 51.4%. 
as at the end of june 2006, the domestic operations of boc issued a total of 94,633,800 great wall rmb debit cards, 7.03 million 
boc great wall credit cards, and 1.09 million boc credit cards, an increase of 15.2%, 12.5% and 561%, respectively, over the 
same period of last year. the volume of foreign currency card settlements was rmb 10,482 million, a year-on-year increase of 
16.6%. transaction volume of great wall rmb cards reached rmb65.1 billion, an increase of 47.7%. 
in the first half of 2006, the bank continued to enhance bank card product innovation, and launched a variety of bank cards, 
including boc city card (a standard rmb credit card featured by installment), boc jiuguang jcb co-branded credit card, boc 
beida credit card, and boc golden eagle co-branded card. it also jointly launched the great wall jiashi fund co-branded card, 
great wall zhongsheng co-branded card and some other cards with a number of large enterprises and public institutions. these 
products were well accepted by the market. 
goods and services purchased with great wall rmb cards of domestic operation (unit: rmb billion) 
30 june 2006 30 june 2005 
goods and services purchased with the cards 65.09 44.08 
treasury business 
the bank is engaged in treasury business including investments and transactions on its own account, and meanwhile provides 
treasury products and services for corporate and personal customers. it takes a leading position among domestic commercial banks in 
foreign exchange treasury services. 
34 
the bank’s investment covers fields such as foreign currency bonds, money market, derivatives and asset management; its trading 
business includes foreign exchange transactions, foreign exchange swaps, foreign exchange settlement and sale, foreign exchange 
options, foreign currency bonds and derivatives, rmb bond and precious metal. the bank has a league of experienced traders and 
risk managers supporting its treasury business, ensuring that it earns profit with risks controlled within acceptable level. 
the development and quotation of new products is one of the bank’s major competitive edges. in recent years, the central bank has 
launched a number of new initiatives, including the market maker system, tier-1 foreign exchange trader, otc, forward, spot, interest 
rate swap, and inter-bank rmb foreign exchange swap. these initiatives have seen pace of marketization of rmb exchange rate 
regime quickened notably. subsequently, the people’s bank of china, cbrc and the state administration of foreign exchange 
jointly promulgated the interim administrative measures for commercial banks to provide overseas financial management 
services, and bank of china became one of the first banks approved to engage in overseas financial management services and 
obtained the biggest quota. leveraging on its treasury business, the bank gradually promoted the innovation of treasury products and 
attracted high-end customers by developing and offering customized products and services. in the first half of 2006, the bank made 
great efforts to exploit treasury products and services in the face of fierce market competition. apart from rmb interest rate swap 
and long-term forward exchange settlement and sales services, it also launched rmb structured wealth management products, 
including “game” retail wealth management products, and “olympics” wealth management series products. to meet the wealth 
management needs of corporate customers, the bank also launched such products as “four-season forward” and “credit garden”. 
its huijubao personal foreign exchange wealth management series products have been named for the second consecutive year as 
“best wealth management brand in china” by a domestic professional financial and economic website: www.hexun.com. 
gold bullion trading is one of the major treasury businesses of the bank. as at 30 june 2006, the bank held a 37% market share and 
ranked first on shanghai gold exchange, the sole gold exchange in china. 
operations of boc hong kong 
bank of china (hong kong) limited (“boc hong kong”) is a subsidiary in hong kong with 65.87% stake held by the bank. boc 
hong kong is one of the major commercial banks and also one of the three note-issuing banks in hong kong. as at the end of june 
2006, it had 302 branches, of which 287 operate in hong kong, 14 in mainland and 1 overseas; and 454 atms. boc hong kong 
provides retail customers and corporate customers with a full range of financial products and services through its wide service 
network. in the first half of 2006, boc hong kong acquired 51% stake in boc group life assurance limited, thus further 
expanded its service scope and income sources. in the first half of 2006, boc hong kong realized net profit of rmb4.57 billion 
equivalent (excluding minority interests), a year-on-year increase of 14.5%. 
during the period, braced by the strong external economies and robust chinese economy, the hong kong economy continued to 
register rapid growth. more employment opportunities were created, citizens’ income was increased, and investment market became 
more active. the favorable economic environment has seen boc hong kong’s profit increased steadily with net interest margin 
expanded and non-interest income grew markedly compared with the same period of last year. its investment agency business 
achieved remarkable results, and income-cost ratio remained at a low level in the market. 
boc hong kong improved the structure of its deposit-taking business while maintaining its edges. as at the end of june 2006, the 
balance of deposits from customers amounted to hkd 650,994 million, an increase of 1.9% over the end of last year. rise in interest 
rate, among other factors, suppressed demand for housing mortgage loans and market competition intensified, which led to a slight 
decrease of 0.2% in boc hong kong’s loan balance. in face of the adverse environment, boc hong kong devoted great efforts to 
optimize credit portfolio and improve process management, and achieved a steady growth of loans to small and medium enterprises. 
the bank also held the lead in the syndicated loan market, ranking second in the hong kong and macau syndicated loan market and 
third in the hong kong and china syndicated loan market. 
in the first half of 2006, boc hong kong continued to lead in hong kong’s rmb business market, achieving good performance in 
all fields. rmb deposits rose slightly by 0.1%; its rmb credit card business takes a dominant market share, with total business 
volume rising 60.3%. as at the end of june, boc hong kong has total 236 atms which offer rmb cash withdrawal services. in 
35 
march 2006, boc hong kong formally launched rmb clearing system, providing a superior clearing platform and a strong 
foundation for the further development of rmb business in hong kong. the launch of rmb-denominated personal checking 
services has offered customers a new consumption option with more flexibility and convenience. leveraging the synergy with the 
parent bank, boc hong kong remains driven in developing high-quality products and services with the aim of generating 
sustainable superior return on capital and maximum value for shareholders. 
investment banking 
boc international holdings limited (“boci”) is a wholly owned subsidiary registered in hong kong, and has 30 affiliates and 
subsidiaries around the world. it is a full-service investment bank with a full-fledged investment banking team and an independent 
international placement network. 
in the first half of 2006, boci realized total profit of rmb 1.11 billion, an increase of 446% year on year. during the period, it 
participated in six ipo projects in the capacity of exclusive/joint lead underwriter, and held a 28.5% share of the stock underwriting 
market in hong kong in terms of funds raised. it topped the list of ipo underwriters in terms of total funds raised and number of ipo 
projects. boci provides a wide range of asset management services through boci prudential asset management ltd (“boci 
prudential”). at the end of june 2006, total assets under management by boci prudential reached hkd26.85 billion, an increase of 
hkd1.5 billion or 5.9% from the prior year-end. in terms of mandatory provident fund business in hong kong, boci prudential 
has a registered mpf membership of 0.46 million, and total assets under management exceeded hkd14 billion, accounting for 
approximately 8% of the market. 
boci (china) limited (“boci china”), incorporated in march 2002, was the first sino-foreign joint venture securities company 
with comprehensive a-share brokerage license. as at 30 june 2006, boci china ranked first among all chinese securities companies 
in terms of total underwriting amounts. it also participated in underwriting the 15th issue of financial bonds of china development 
bank, and ranked first among all the underwriters in terms of the underwriting amount. in the same period, it claimed second place 
among chinese securities companies in terms of volume of bond delivery. 
insurance business 
the bank offers insurance services including life insurance and non-life insurance. non-life insurance business is wholly owned and 
operated by the bank, and life insurance business is owned and operated jointly with the bank’s subsidiary boc hong kong. 
bank of china group insurance company, ltd (“bocg insurance”) and boc group life assurance company, ltd. (“bocg life”) 
are responsible for specific operation of the group’s insurance business. 
in the first half of 2006, the insurance business of the group achieved gross premium income of hkd648 million, translating into 
rmb388 million in total profit, increased by 189% year on year. main resources of insurance businesses include agency banking 
business and broker business. 
sources of gross premium income unit: hkd million 
at 30 june 2006 at 31 december 2005 at 30 june 2005 
gross premium income by banking 
agency service 
293 514 283 
gross premium income by broker 
agency service 
355 752 402 
total 648 1,266 685 
in 2006, bocg insurance penetrated into more specialized liability insurance market, including director liability insurance and 
professional liability insurance. at the same time, following the “user-pay” principle advocated by the government in the medical 
system reforms, the bank launched a series of tailored medical insurance programs. to expand overseas business, bocg insurance 
36 
acquired a 32% stake in luen fung hang insurance co., ltd in the first half of 2006. in a move to penetrate into the life insurance 
market of macau and further consolidate the interaction of commercial banking, investment banking and insurance business, bocg 
insurance transferred a 51% stake in bocg life to boc hong kong, which opened a new chapter for the development of life 
insurance business of bocg life. 
information technology 
the bank realizes that it construction is crucial to its future development. in the first half of 2006, the bank continued to direct it 
efforts with supporting business development and ensuring secure operation. progress was achieved for significant it projects 
including construction of the management information system, new online banking platform, and centralized international settlement 
and trade finance system. meanwhile, the infrastructure construction of a new information center and a disaster recovery center has 
been initiated. the bank is also systematically implementing the it blueprint; fundamental tasks including system training, gap 
analysis and stress testing have been launched. effective implementation of it blueprint is critical to the bank’s reform, 
development and innovation. it will help the bank realize centralized processing of operational information of its branches to 
intensify internal control, risk prevention and timely supervision by the internal audit, and formulate a customer-centered 
management model based on business lines, thereby creating a powerful it platform for sharpening the bank’s competitive edge. 
risk management 
risk management is an important part of the bank’s management framework, which is the precondition to its robust, sustainable and 
healthy development. in the first half of this year, the bank further enhanced its risk management capability, improved credit asset 
structure, improved credit asset quality to pursue sustainable and healthy development of its credit business. 
the risk management framework of the bank comprises the board of directors and the risk policy committee under the board, the 
internal control committee, the anti-money laundering committee, the asset-liability management committee and assets 
disposal committee under the management, the risk management department, the credit administration department, the asset & 
liability management department and legal and compliance department. the bank uses vertical management model to manage the 
risks of domestic and overseas branches, and adopts window management model for business departments. it also monitors and 
controls the risk management of subsidiaries through participation in their boards of directors or risk committee. 
credit risk 
credit risk is the risk that a customer or counterparty may be unable or unwilling to meet a debt obligation to the bank when required. 
the bank’s credit risks are mainly from loans, trade finance and treasury business. 
the bank’ credit risk management process can be divided into three major stages: 1) credit origination and assessment; 2) credit 
review and approval; and 3) loan granting and post-lending management. 
corporate loans for corporate credit facilities, we continue to adopt the “three-in-one” credit decision-making mechanism. the 
three components of this mechanism are an independent due diligence investigation, an independent risk review, a strict approval 
process by authorized approvers and follow-up evaluation. 
in the first half of 2006, the bank continued its reform efforts in establishing centralized credit review and approval mechanism, 
which is being implemented step by step. it adjusted the credit approval authority and authorization management model for overseas 
operations, and enhanced the risk control over the total credit exposures to customers. to promote the sustainable and healthy 
development of credit business to small enterprises, the bank further clarified customer entry thresholds and launched pilot branches. 
the bank adopts a two-dimensional rating system that relates the customers’ credit rating logically with the classification of credit 
asset. the results of customer credit rating are important basis for credit authorization management, customer entry and exit 
management, credit approval, credit pricing, and classification of credit asset risks. the bank plans to start the testing and subsequent 
adoption of the probability-of-default-based customer credit rating model in the second half year. as at 30 june 2006, the balance of 
domestic loans to a-rating customers accounted for 43.7% of the total, an increase of 1.8% over the end of last year. 
37 
during the first half of 2006, the bank established customer risk evaluation standards for large-amount credits, and formulated 
corresponding management measures to improve the management of credit risks of the bank. according to china’s 
macro-adjustment policies and the development of the real estate market, the bank strengthened risk supervision over industrial risk 
and management of credits to the sector, and achieved steady improvement in the quality of real estate loans. 
five-tier loan classification approach, which was introduced in 1999, is an important part of the bank’s ongoing credit monitoring. in 
the first half year, the bank continued to manage the special mention loans by subdividing them into high, medium and low risks 
categories. the classification results have become more objective, and the balance and proportion of such loans kept decreasing. 
personal loans in the first half of 2006, the bank completed the centralization of approval authority for personal loans to tier-1 
branches other than personal pledged loans and education loans. meanwhile, it strengthened risk supervision of personal loans, 
including overall monitoring by regions and products, and key monitoring and risk reporting of high-risk real estate projects, 
distributors and customers. 
the bank reclaims on the debtors of non-performing loans mainly by means of negotiation, legal proceedings, debt restructuring and 
write-off. the foreclosed assets will be disposed of in an open and transparent manner, generally through auction, invitation for bid 
and submission of tenders and negotiated transfer. 
market risk market risk is the risk of loss to the bank’s on-balance-sheet and off-balance-sheet operations that may result from 
changes in interest rates, exchange rates, stock prices and commodity prices. market risk exists in both trading and non-trading 
business. the bank manages market risk by setting up risk limits, which are determined by reference to different risk factors, such 
as interest rates, exchange rates, commodity and stock prices, etc. a variety of risk measurement techniques, such as sensitivity limits, 
were used in formulation of specific management measures. 
var (value at risk) is a kind of statistic methodology which is applied in evaluating the potential losses of risk positions caused by 
fluctuation of interest rates, exchange rates, commodity and stock prices at designated confidence level during a specific period. the 
table below shows the result of var analysis for the foreign currency trading portfolios of the bank’s domestic business (exclusive 
of comparative large-amount investment accounts or bank accounts of the bank) as of 30 june 2006. 
unit: usd million 
at 30 june 2006 at 31 december 2005 
at the 
period-end 
average high low period-end average high low 
interest rate risk 4.88 8.10 16.25 0.82 4.77 3.27 11.94 0.20 
exchange rate risk 2.64 3.67 14.12 0.78 0.39 2.7 18.69 0.34 
fluctuation risk 0.19 0.68 4.63 0.16 0.36 0.8 2.54 0.04 
total market risk 5.84 8.10 19.15 1.84 15.6 5.1 18.86 0.69 
interest rate risk management interest rate risk is the risk of loss to interest income or the value of assets due to the volatility of 
interest rates. we manage the interest rate risk of the banking book primarily through gap analysis, and use the gap analysis data to 
perform stress-testing, on the basis of which we adjust the re-priced period structure of our assets and liability. meanwhile, we 
closely follow the trend of local and foreign currency interest rates, and adjust the interest rates of local and foreign currency deposits 
and loans in a timely manner to avoid interest rate risk. 
in respect of treasury products, the bank adopts such indicators as var, duration and price value of a basis point (pvbp) to 
measure interest rate risk, and utilizes stress-testing and scenario analysis to monitor risks. the bank has also set up a series of risk 
limits, which are closely monitored and managed. the bank has established a globalized treasury product internal control platform 
with an advanced market risk management infrastructure to effectively monitor the market risk of treasury products offered by its 
38 
main branches. 
exchange rate risk management 
the bank’s management of exchange rate risks covers trading accounts and non-trading accounts. non-trading exchange rate risk 
mainly arises from the currency mismatches in assets and liabilities, foreign exchange capital, investments in overseas subsidiaries, 
and foreign currency profit or loss. the bank seeks to reduce the exchange rate risk arising from currency mismatches in assets and 
liabilities by matching the sources and use of our funds on a currency-by-currency basis. in addition, we also manage and control 
exchange risk through settlement or hedging transactions. 
however, the group's ability to manage its foreign currency positions in relation to the rmb is limited as rmb is not a freely 
convertible currency. according to the current applicable foreign currency policies of the prc government, the conversion of foreign 
currency is subject to application and approval by the relevant prc government authorities. the bank has taken following measures 
to reduce its foreign exchange exposure: 
in 2005, the bank entered into a foreign currency option agreement with central safe investments limited having a notional 
amount of usd18 billion to economically hedge a portion of its net on-balance sheet foreign currency position. 
during the six month period ended 30 june 2006, the bank executed certain foreign exchange transactions to reduce its net foreign 
currency position by usd3.3 billion. 
subsequent to the balance sheet date in august 2006, the bank further effected certain foreign exchange transactions, further 
reducing its net foreign currency position by usd14.2 billion. 
the risk of trading accounts mainly comes from the foreign exchange transactions the bank is engaged in. the bank took a variety of 
measures according to its risk tolerance and operating capability to effectively reduce the possible losses caused by uncertain market 
factors, including total exposure control, structural management, quota management, and valuation techniques. 
liquidity risk 
liquidity risk refers to the risk of funding availability at an appropriate cost when required to meet. 
the objective of the bank’s liquidity management is to ensure that the bank have adequate liquidity at all times to satisfy payment of 
deposits and other debts due and the development of asset-based business; and is able to raise enough funds at reasonable prices 
within a certain period in the case of business opportunities or emergencies. 
the bank’s liquidity risk is managed on a consolidated basis at the head office. liquidity management policy and measures are 
applied across the bank from top to down. liquidity management mainly includes two scenarios, namely normal business 
environment and emergent or extreme conditions. under normal environment, the bank regularly updates management policies and 
guidelines, liquidity indicator management, liquidity gap management, position management, management of fund flow between the 
head office and branches, management of liquidity portfolios and financing guidelines, with the view to ensuring the normal 
operation of the bank’s asset and liability business and to adjusting the liquidity of the bank to a proper level. in addition, the bank 
also monitors warning indicators, set up emergency programs and conduct financing capability testing to discover and prevent risk in 
a timely manner. 
in the first half of 2006, the group’s asset and liability business registered healthy and steady development and liquidity was 
managed effectively. as at 30 june 2006, all indicators relating the bank’s liquidity status have met the regulatory requirements as 
table below: 
30 june 2006 local currency foreign currencies 
liquidity ratio 32.03% 45.88% 
loan-deposit ratio of domestic 
56.47% 71.95% 
39 
operations 
excess reserve ratio★ 2.58% 17.07% 
★ deposit reserve refers to the deposits with the central bank for the purpose of guaranteeing the withdrawal of deposits and fund 
clearing of customers, and deposit reserve ratio is the proportion of deposit reserve required by the central bank in total balance of 
deposits. 
deposit reserve and deposit reserve ratio are composed of two parts. the deposit reserve ratio stipulated by the central bank is 
called statutory deposit reserve ratio, which stands at 7.5% at present, i.e. commercial banks must deposit 7.5% of deposits received 
with the central bank; the corresponding deposits is called statutory deposit reserve. the reserve beyond statutory deposit reserve is 
called excess reserve, and the proportion of excess reserve in total deposits is the excess reserve ratio. 
the above liquidity ratio is calculated in accordance with the relevant provisions of the people’s bank of china and cbrc， and the 
financial data are based on the accounting standard for business enterprises and financial enterprise accounting system. 
internal control and operational risk 
internal control the bank is committed to continuously improve its internal control system by establishing three defense lines 
composed of function management, compliance control and internal audit. by clarifying the responsibilities of all business units, the 
bank seeks to ensure effective risk prevention and optimum resource allocation from the management framework perspective. 
the principal objective of developing internal control function is to establish a compliance culture and construct a comprehensive, 
dynamic, proactive and verifiable internal control environment, which is based on a sound internal control infrastructure and rules 
and regulations, supported by advanced information technology, guided by an effective incentive and accountability system, provides 
checks and balance, and emphasizes refined process control. 
as required by the guidelines on internal control of commercial banks promulgated by the people’s bank of china, the bank 
continuously reinforced internal control measures and improved internal control mechanism and environment in different business 
and management lines, including corporate banking, treasury services, personal financial business, e-banking, bank card, and human 
resources. meanwhile, it also established key indicator monitoring system for internal control, to conduct key monitoring and 
periodic reporting of key internal control indicators, including rotation, function in an acting capacity, and business errors. 
operational risk operational risk means the risk of losses caused by substandard or problematic internal procedures, personnel or 
system or by external events. in the first half of 2006, the bank cooperated with rbs in respect of the operational risk management 
framework. the two parties carried out a preliminary study of operational risk management framework in line with the bank’s 
conditions. work processes were developed covering operational risk and control review, key risk indicators, reporting of significant 
events, etc. pilot project relating operational risk and control assessment and key risk indicators was also activated. 
internal audit 
in order to fully realize the function of internal audit in our corporate governance structure, in the first half of 2006, the bank 
appointed an independent external consulting agency to conduct an overall evaluation of its internal controls by referring to 
international internal audit industry best practices. based on the evaluation results and regulatory requirements, the bank started 
improving the organizational structure of internal audits, management techniques, reporting lines and practical standards, and 
devoted great efforts to build a new vertical, independent and effective internal audit system steered by the board of directors and 
the audit committee. in the mean time, the bank continuously improved the depth of its audits, focused on improvement in high-risk 
and weak areas and significantly enhanced the effectiveness of internal controls. under the internal audit plan which mainly 
comprises regular audits while supplemented by special audits and individual case investigations, all levels of internal audit 
departments, at home and abroad, had deepened the audits while giving consideration to its coverage. in the first half of 2006, the 
bank conducted regular internal audits on 6 overseas institutions, 9 tier-1 branches, 115 tier-2 branches, 689 urban sub-branches and 
957 county-level sub-branches, and meanwhile completed 1,172 special internal audits (including 850 economic responsibility 
40 
audits), and 31 case investigations. 
capital management 
the objective of the bank’s capital management is to effectively plan various types of capital to ensure that its capital is in line with 
the requirements of external regulations, credit rating, risk compensation and shareholder’s return. it also endeavors to optimize 
financial ratios, improve the equity value and maximize shareholder’s value on a risk-controlled basis by making full use of capital 
instruments and management measures. during the report period, the bank's capital level is in line with all statutory requirements. 
outlook 
in the second half of the year, we expect the chinese economy will maintain its rapid growth momentum, thus providing a 
favorable macro environment for the operation of the bank. presented with new circumstances and new missions, the bank will 
further study its strategy and strive to maintain stable and rapid growth for its various businesses, so as to ensure that the targets 
set at the beginning of the year can be fulfilled. in addition, the bank will also continue its reforms, bearing in mind the 
requirements of the capital market. with respect to business development, the bank will focus on developing its intermediary 
business, speed up development of its personal banking business, and further optimize its business structure and income mix. 
the bank will also steadily develop its asset business with quality customers, control the speed of business development, 
proactively manage its liabilities, lower fund costs and improve service quality. in terms of risk management, the bank will 
strengthen comprehensive risk management, refine its internal control systems, and establish three lines of defense comprising 
functional management, compliance control and internal audit. the bank also plans to take its organizational reforms and 
process integration to further depth, and also accelerate the implementation of the it blueprint. the reforms in hr 
management will continue, and more efforts will be devoted to improving management capability and staff quality. 

41 
corporate information 
registered name in chinese: 中国银行股份有限公司 (“中国银行”) 
registered name in english: bank of china limited (“bank of china”, hereafter “the bank”) 
legal representative: xiao gang 
secretary to the board: yeung jason chi wai 
certified accountant: leung kim lan francis 
authorized representatives: li lihui 
yeung jason chi wai 
compliance advisers: goldman sachs (asia) l.l.c. 
ubs ag acting through its business group ubs investment bank 
address: no.1 fuxingmen nei da jie, beijing, prc china 
telephone: 010-66596688 
fax: 010-66016871 
e-mail: bocir@bank-of-china.com 
registered office: no.1 fuxingmen nei da jie, beijing, prc china 
office address: no.1 fuxingmen nei da jie, beijing, prc china 
post code: 100818 
place of business in hong kong: 8th floor, bank of china tower, 1 garden road, central, hong kong 
credit ratings (long term) 
standard & poor’s: bbb+ rating and investment information, inc.: amoody’s 
invester service : a2 dagong global credit rating co., ltd.: aaa 
fitch ratings: awebsite: 
http://www.boc.cn 
selected newspapers for disclosure: china securities, shanghai securities, securities times, china daily 
hong kong newspaper: south china morning post and hong kong economic journal 
website designated by csrc to publish the interim report: http://www.sse.com.cn 
website designated by the stock exchange of hong kong limited to publish the interim report: http://www.hkex.com.hk 
places where the interim report can be obtained: major business locations 
index constituent 
the bank is a constituent of the following indices: 
msci china index 
shanghai stock exchange index series 
ftse/xinhua china 25 index 
ftse/xinhua hong kong index 
hang seng china enterprise index (effective from 11 september 2006) 
stock codes 
h shares: 
42 
the stock exchange of hong kong limited 3988 
reuters 3988.hk 
bloomberg 3988 hk 
a shares: 
the shanghai stock exchange 601988 
reuters 601988.ss 
bloomberg 601988 ch 
share registrar 
h shares: computershare hong kong investor services limited 
hopewell centre, 46th floor, 183 queen's road east, wan chai, hong kong 
a shares: china securities depository and clearing corporation limited, 
shanghai branch 
f/36, china insurance building, 166 lujiazui east r.d., pudong district, shanghai 
other relevant information 
date of first registration: 31 october 1983 
modified registration date: 26 august 2004 
authority of first registration: state administration of industry and commerce of prc 
corporate business license serial number: 1000001000134 
financial license institution serial number: b10311000h0001 
tax registration certificate number: jgsxz 110102100001342 
dsjz 110102100001342000 
appointed domestic auditor: pricewaterhousecoopers zhong tian certified public accountants limited company 
address of appointed auditor: floor 11, pwc center, no.202 hubin road, shanghai 
post code: 200021 
appointed international auditor: pricewaterhousecoopers hong kong 
address of appointed auditor: 22/f, prince’s building center, hong kong 
business scope: rmb deposit-taking; disbursement of short, medium and long-term loans, settlement; discount of bills; issuance of 
financial bonds; issuance and redemption as an agency, and underwriting of government bonds; trading of government bonds; 
inter-bank lending; provision of credit card services and guarantee; collection and payment and insurance agency services; safe box 
services; foreign exchange deposits, loans and remittance; foreign currency exchange; international settlement; inter-bank foreign 
exchange lending; acceptance and discount of foreign exchange bills; foreign exchange loans, guarantee, settlement and sales; 
issuance and agency of foreign currency marketable securities other than stock for its own accounts or for customers’ accounts; 
proprietary foreign exchange trading; foreign exchange trading for customers; issuance of foreign exchange credit cards and foreign 
credit card issuance and payment as an agency; credit standing investigation, consultation and witness; organizing of or participation 
in syndicated loans; trading of international precious metal; all banking services engaged by overseas operations as approved by local 
laws; issuance of local currencies through branches in hong kong and macau according to local laws and decrees or acting as an 
43 
agency; other services as approved by cbrc and other regulatory authorities. 
this report is prepared in both chinese and english. should there be any inconsistency between the chinese and english 
versions, the chinese version shall prevail. 
44 
directors, supervisors, senior management and staff 
director, supervisors and senior management 
honorary directors(1) 
name position 
chen muhua honorary chairperson 
chuang shih ping honorary vice chairman 
board of directors 
name position 
xiao gang chairman 
li lihui vice chairman and president 
zhang jinghua non-executive director 
yu erniu non-executive director 
zhu yan non-executive director 
zhang xinze non-executive director 
hong zhihua non-executive director 
huang haibo non-executive director 
sir frederick anderson 
goodwin non-executive director 
seah lim huat peter non-executive director 
hua qingshan executive director; vice president 
li zaohang executive director; vice president 
anthony francis neoh independent non-executive director 
william 
peter cooke independent non-executive director 
patrick de 
saint-aignan independent non-executive director 
alberto togni independent non-executive director 
notes: 
(1) under prc law, the honorary directors are not members of the board of directors and do not have any power or right to 
vote on any matters considered by our board under our articles of association. 
board of supervisors 
name position 
liu ziqiang chairman of board of supervisors 
wang xueqiang supervisor 
liu wangming supervisor 
li chunyu employee supervisor 
liu dun employee supervisor 
senior management 
name position 
li lihui president 
hua qingshan executive director; vice president 
li zaohang executive director; vice president 
zhou zaiqun vice president 
zhang yanling vice president 
zhang lin secretary of the party discipline committee 
45 
zhu min assistant president 
zhu xinqiang assistant president 
wang yongli assistant president 
lonnie dounn* chief credit officer 
(*tendered his resignation in april 2006, effective in september 2006.) 
yeung jason chi wai secretary to the board of directors 
human resources and management 
number of institutions and employees as of the end of june 2006, the bank had 11,543 domestic and overseas branches and 
subsidiaries, a reduction of 103 from the beginning of the year. domestic branches and subsidiaries numbered 10,907, a reduction of 
111 from the beginning of the year, and overseas branches and subsidiaries numbered 635, an increase of eight from the beginning of 
the year. 
as of the end of june 2006, the bank had 197,636 regular employees, a decrease of 11,629 from the beginning of the year. 
employees of domestic operations numbered 179,453, a decrease of 11,375; and employees of overseas operations totaled 18,183, a 
decrease of 254 from the beginning of the year. besides, the bank had 28,769 dispatched staff in its domestic operations. 
management of human resources in the first half of 2006, the bank continued to reform its human resources management system. 
intensified efforts were made to adjust and staff the management team of its branches, subsidiaries and departments of the head 
office. the bank launched leadership development model, and consolidated the supporting resources. through in-depth position 
appointment reform, the bank gradually formed a merit-based recruitment system through fair competition. it also controlled the 
headcount, and optimized staff structure constantly. leveraging diverse channels, including campus recruitment and social 
recruitment, it filled up post vacancy to satisfy the needs of business development and management. it also improved an all-round 
remuneration system, guided domestic branches to design remuneration reform plans and calculate remuneration level, promoted the 
implementation of remuneration reform, started the establishment of the corporate annuity system, and preliminarily set up a 
long-term and standardized supplementary retirement insurance mechanism. it also enhanced performance management, set the 
performance indicators for branches by virtue of balanced score card, reinforced process management, and guided each branch to 
implement the scientific approach to development. 
training and development of human resources the bank devoted great efforts to the training of management personnel at high 
and middle ranks. it developed senior leadership course in cooperation with peking university and business school of harvard 
university, and sent senior executives to participate in a senior management course provided by the rbs. 
to support and boost business development, training was also provided to professionals in the fields of wealth management planning, 
financial service marketing, operational risk, trading and settlement, etc. the bank also strengthened training for frontline and new 
employees. in the first half, the bank organized 2,441 off-work training courses each over two days, training 95,577 persons. 
process integration and organizational restructuring the bank continued to promote the business process integration and 
organizational restructuring. it conducted an overall investigation on the organizational framework, business process and operational 
mechanism of rbs, in an effort to explore and study the direction of its own organizational framework reform in line with its own 
conditions. by studying the setting up of strategic business units along the lines of corporate banking, personal banking and treasury 
business and adjusting the functions of the branch outlets, the bank will try to strengthen the management of business lines so as to 
gradually establish a matrix management model commonly adopted by international financial institutions. as of the end of june 2006, 
organizational resources of the bank continued to be allocated in favour of key regions to optimize the geographical layout. the 
bank newly established 25 institutions/outlets, upgraded 216 institutions, and closed 192 small institutions/outlets of poor 
development potential. 

46 
corporate culture 
the bank intends to build a strong corporate culture with work ethics that encourages honesty and integrity, the drive for 
performance, a people oriented spirit, diligence and accountability and the pursuit of excellence so as to achieve a seamless 
integration of its corporate culture with the operation and management of the bank. by leveraging on the directional guidance, 
incentives and behavioural constraints accompanying the building of the corporate culture, we aim to align the strategic development 
goal of the bank with the career aspirations of our employees. 
corporate governance 
during the report period, the bank has been in strict compliance with the company law and the law for commercial banks as well 
as other applicable laws of china. we continued to improve the organizational framework and management processes relevant to 
good corporate governance and optimized the functions and responsibilities among the board of directors, board of supervisors and 
senior management, all in accordance with the rules and regulations enacted by the regulatory authorities but taking into account our 
current conditions. all organizations relevant to our corporate governance operated independently according to the law and 
performed their respective rights and obligations in accordance with their responsibilities set forth in the articles of association. 
general meeting of shareholders 
the bank convened and held the general meeting of shareholders according to the related laws and regulations and the articles of 
association of the bank to ensure that all the shareholders have an equal right to know, participate and vote. during the first half of 
2006, the bank held the annual general meeting of shareholders and four interim meetings and reviewed work reports of the board 
of directors and board of supervisors, proposal on business plan and financial budget, and profit distribution plan etc. the 
shareholders’ general meeting has played a crucial role in promoting the development of the bank and protecting the interest of the 
investors and other stakeholders. 
directors and the board of directors 
in the first half of 2006, one independent non-executive director and one non-executive director were appointed to the board of 
the bank. as of june 30, 2006, the board consisted of 16 members, including the chairman, four independent non-executive 
directors, eight non-executive directors and three executive directors. within the report period, the bank held five board meetings， 
adopted resolution through voting by correspondence, and reviewed its development strategies, business plans, profit distribution 
plans, the board’s self-evaluation plans, 2005 annual report, objectives of performance management and bonus distribution plan for 
senior management, ipo issuance plan, the alteration of articles of association and other proposals. all directors diligently performed 
their responsibilities, guaranteed the practicability of the board’s decisions, and maintained the interests of the bank and all its 
shareholders. 
the board of directors has set up five special committees, namely strategic development committee, audit committee, risk policy 
committee, personnel and remuneration committee and connected transaction control committee. the five committees directly 
report to the board. the work performance of each committee in the first half of 2006 is as follows: 

47 
committees work performance 
strategic development committee 
the committee held four meetings and mainly reviewed proposals such as the 
development strategies, business development plan for 2006-2008, and business 
plan and financial budget for 2006 of the bank. 
audit committee 
the committee held four meetings and mainly reviewed proposals such as the 
financial management measures of bank of china limited, improvement of internal 
control, business plan and expense budget for 2006, the appointment, audit plan and 
audit fees of external auditors, profit forecast for 2006, financial report for year 
2005 prepared in accordance with prc gaap and ifrs, and relevant auditors’ 
report. 
risk policy committee 
the committee held two meetings and mainly reviewed proposals such as key risk 
management work and plan for 2006, report on the management key risk indicators, 
and progress on the establishment of market risk management. 
personnel and remuneration committee 
the committee held two meetings and mainly reviewed proposals such as the 
evaluation guide and self-evaluation plan of the board of directors, membership 
changes to special committees under the board of directors, and the measures on 
performance management of senior management of the bank. 
connected transaction control committee 
the committee held two meetings and mainly reviewed such proposals as the 
management measures on connected transactions of the bank, and plan on division 
of responsibilities for connected transaction control, and the rules of procedures of 
the connected transaction control committee of the board of directors of boc. 
supervisors and the board of supervisors 
the board of supervisors of the bank is composed of five members, including the chairman of board of supervisors, two full-time 
supervisors and two staff supervisors. the size and the composition of the board of supervisors comply with the supervisory 
requirements and the articles of association. the board of supervisors examines and supervises the operation and the financial 
activities of the bank by holding meetings regularly, reading and checking various documents, debriefing the work report and reports 
on certain issues from the management. 
senior management 
the senior management is the executive body of the bank. headed by the president, the senior management is composed of the 
vice presidents and assistant presidents, who assist the president in managing the bank’s business activities. the senior 
management of the bank is assessed and supervised by the board of directors. in the first half of 2006, the objectives for 
performance management and scheme for bonus allocation of the senior management was deliberated and approved by the board 
of directors of the bank. in order to incentivize and motivate the senior management, the bank set up scientific assessment and 
evaluation standards; established the assessment mechanism in which the compensation of senior management personnel is linked to 
his performance, responsibilities and risks while adhering to the principle of balancing incentives and constraints. 
investor relations and information disclosure 
the bank strictly complies with relevant requirements strictly, and discloses all material information promptly, accurately, faithfully 
and completely to ensure all shareholders are treated equally. 
the bank is committed to promoting investor relations in the capital market, and places investor relations management as top priority. 
during the report period, the bank faithfully, accurately, promptly and sufficiently fulfilled its responsibilities of information 
disclosure and promoted the interests of its investors through meetings with institutional investors, press and analysts, and by 
adopting multiple communication channels such as launching an ir page on its website, arranging one-on-one meetings and various 
48 
communication tools such as mail, phone and fax. 
49 
significant events 
i profit distribution during the report period 
profit distribution in 2005 the 2005 profit distribution plan of the bank was adopted at the 2005 annual general meeting of 
shareholders, i.e., to distribute a profit of rmb 1.375 billion to the registered shareholders of the bank as of 31 december 2005. the 
plan has been implemented. 
according to the resolutions of the board meeting held on 29 august of 2006, the bank transferred 10% of the net profit from 
january to june 2006 to the statutory surplus reserve, set aside rmb4, 291 million as general reserve fund. the bank does not 
declare any dividend for the first half of 2006. 
ii listing of h-share and a-share 
the h-share of the bank was listed on the stock exchange of hong kong limited (the hong kong stock exchange) on 1 june 
2006. 25,568,590,000 h-shares were issued on the initial public offering. following the exercise of the over-allotment option on 9 
june, a further 3,835,288,000 h-shares were issued. the issuance of h-share accounted for 11.9% of the total enlarged share capital 
at an issue price of hk$2.95 per share. with the issuance of the shares, us$11.2 billion was raised. the h-share ipo was the fourth 
largest ipo around the world to date, the largest for the financial sector, the largest in asia excluding japan, and the largest global 
offering by a chinese company. 
the bank issued its a-share in the domestic market from 19 to 23 june. these shares were issued at an issue price of rmb 3.08 per 
share and commenced trading on the shanghai stock exchange on 5 july 2006. as the largest domestic listing of a-share on the 
domestic market so far, 6,493,506,000 a-share were offered, representing 2.56% of the fully diluted share capital. a total of rmb 
19,999,998,480 was raised, and our ipo is the largest a share offering to date. 
the ipos of h-share and a-share account for 14.14% of the total enlarged share capital of the bank. after the ipos, the share capital 
of the bank increased to rmb 253,839,162,009 or 253,839,162,009 shares. the two ipos and successful listing marked a milestone 
in the stock reform of the bank. since 19 july 2006, the bank (a share code: 601988) has been included in sse 180 index and sse 
50 index 
iii changes in share capital and shareholdings of major shareholders 

50 
1. changes in share capital: 
1 jan, 2006 30 june 2006 
number of shares 
allotment 
of shares 
bonus 
shares 
shares 
transferred 
from the 
surplus 
reserve 
increase of share 
capital 
others subtotal number of shares 
i. unlisted shares 
i. shares held by the 
state (promoter’s 
shares) 
174,128,718,217 -2,803,313,477 -2,803,313,477 171,325,404,740 
ii. shares held by the 
state 
8,514,415,652 -8,514,415,652 -8,514,415,652 
iii. shares held by 
domestic legal person 
iv. shares held by 
foreign legal person 
35,298,644,140 -35,298,644,140 -35,298,644,140 
v. shares of legal 
person promoters 
vi. shares held by 
staff 
vii. preferred shares 
or other shares 
6,493,506,000 6,493,506,000 6,493,506,000 
subtotal 209,427,362,357 177,818,910,740 
ii. listed shares 
i. rmb-denominated 
ordinary shares 
ii. domestically listed 
foreign shares 
iii. overseas listed 
foreign shares 
29,403,878,000 46,616,373,269 76,020,251,269 76,020,251,269 
iv. others 
subtotal 0 76,020,251,269 
iii. total 209,427,362,357 253,839,162,009 
51 
1. the number of shares in the column of “preferred shares or other shares” is the amount of the a share offered by the bank to the 
public from 12 to 29 june, 2006, which were registered with the shanghai branch of china securities depository and clearing 
corporation on 29 june 2006, and commenced trading on the shanghai stock exchange on 5 july 2006. 
2. the bank invited the national council for social security fund (ssf) as a strategic investor on 13 march 2006, to which 
8,514,415,652 ordinary shares were offered. 25,568,590,000 ipo h-shares were issued in may 2006. 35,298,644,140 non-listed 
foreign funded shares previously held by boc’s foreign strategic investors, 8,514,415,652 ordinary shares by the ssf, and 
2,803,313,477 ordinary shares transferred by central safe investments limited, sponsor of boc, to ssf, as required by the state, 
were converted to h shares, and listed at the hong kong stock exchange on 1 june along with the h shares already offered to the 
public. the h share over allotment option was exercised in full, involving 3,835,288,000 h shares on 9 june 2006. in june 2006, 6, 
493, 506, 000 a shares were offered to the public. on 29 june, 2006, the a shares offered to the public by boc and 171,325,404,740 
ordinary shares held by central safe investments limited, sponsor of the bank, were registered as a-shares. the a-shares of the 
bank were listed on the shanghai stock exchange on 5 july 2006. as of 5 july 2006, the bank has issued 177,818,910,740 a shares 
and 76,020,251,269 h shares, representing 253,839,162,009 ordinary shares in aggregate. 
2. number of shareholders and shareholdings 
total number of shareholders: as of the end of the reporting period, the bank’s shareholders (a-share+ h-share) numbered 
1,060,828, including 457,146 holders of h-share and 603,682 holders of a-share. (the number of shares held by h share 
shareholders are those recorded in the register of members as kept by the h share register of the bank) 

52 
top ten shareholders 
proportion in total 
share capital 
no. name of shareholder type of 
shareholder 
type of share shareholding at the end 
of report period (as of 
30 june 2006) (%) 
shares 
pledged or 
frozen 
shares 
1 central safe 
investments limited 
state owned a share 171,325,404,740 67. 49% 
2 hkscc nominees 
limited 
foreign h share 30,341,965,800 11.95% 
3 rbs china investments 
s.à.r.l. 
foreign h share 20,942,736,236 8.25% 
4 asia financial holdings 
pte ltd 
foreign h share 10,471,368,118 4.13% 
5 national council for 
social security fund, 
prc 
state owned h share 8,377,341,329 3.30% 
6 ubs ag foreign h share 3,377,860,684 1.33% 
7 asia development 
bank 
foreign h share 506,679,102 0.20% 
8 the bank of 
tokyo-mitsubishi ufj 
ltd 
foreign h share 473,052,000 0.19% 
9 wingreat international 
limited 
foreign h share 420,490,000 0.17% 
10 best sense investments 
limited 
foreign h share 236,526,000 0.09% 
10 turbo top limited foreign h share 236,526,000 0.09% 
the bank is not aware whether the shares of the above shareholders have been pledged or frozen, or the connected relationships 
among the above shareholders. 

53 
top ten shareholders whose shares are not subject to selling restrictions (as at 5 july 2006, being the date of listing of 
a-share, the shares held by hkscc nominees limited is as at 30 june 2006) 
no. name of shareholder listed trading shares type of share 
1 hkscc nominees limited 30,341,965,800 h share 
2 icbc- gf strategic selection balanced securities 
investment fund 
70,669,000 a share 
3 shanghai huiyin investment limited corporation 70,000,000 a share 
4 icbc- e fund value selection stock securities 
investment fund 
50,397,000 a share 
5 china life insurance (group) company – 
traditional-general insurance 
38,765,000 a share 
6 china life insurance company limited- dividend- 
personal divident-005l-fh002 sh 
29,076,000 a share 
7 china life insurance company limited- 
dividend-group divident-005l-fh001 sh 
23,982,000 a share 
8 china pacific life insurance co., 
ltd-dividend-personal dividend 
23,357,300 a share 
9 china life insurance company 
limited-traditional-general insurance-005l-ct001 
sh 
23,260,000 a share 
10 bank of communications- hua an innovation 23,101,000 a share 
explanation of the connected relations and the concerted action 
among the above shareholders 
except that some of the above shareholders may be under the 
management of the same corporation, the bank is not aware of 
the connected relations and the concerted action among the 
above shareholders. 

54 
substantial interests in share capital 
the register maintained by the bank pursuant to section 336 of the securities and futures ordinance (the “sfo”) of the laws of hong 
kong recorded that, as at 30 june 2006, the following corporations had the following interests (as defined in the sfo) in the bank set 
opposite their respective names: 
name of shareholders number of shares held 
type of 
shares 
% of total 
issued a 
shares 
% of total 
issued h 
shares 
% of total 
issued share 
capital 
capacity 
central safe investments 
limited 
171,325,404,740 a 96.35% - 67.49% beneficial owner 
the royal bank of 
scotland group plc note 1 
20,944,789,236 h - 27.55% 8.25% attributable 
interests & 
beneficial owner 
rbs ci limited note 1 20,942,736,236 h - 27.54% 8.25% attributable 
interests & 
beneficial owner 
rbs china investments 
s.à.r.l. 
20,942,736,236 h - 27.54% 8.25% beneficial owner 
temasek holdings 
(private) limited note 2 
11,792,559,118 h - 15.51% 4.65% attributable 
interests 
national council for 
social security fund of 
the prc 
11,317,729,129 h - 14.89% 4.46% beneficial owner 
ubs ag 3,892,847,114 
132,154,877 (s)* 
h - 5.12% 
0.17% 
1.53% 
0.05% 
attributable 
interests, beneficial 
owner & person 
having a security 
interest in shares 
* “s” denotes short positions 
notes: 
1. the royal bank of scotland group plc (“rbs group”) holds the entire issued share capital of rbs ci 
limited, which in turn holds 51.61% of rbs china investments s.à.r.l. (“rbs china”). accordingly, rbs 
group and rbs ci limited are deemed to have the same interests in the bank as rbs china for the purpose of 
the sfo. 
2. temasek holdings (private) limited (“temasek”) holds the entire issued share capital of fullerton 
management pte ltd, which in turn holds the entire issued share capital of asia financial holdings pte ltd. 
accordingly, for the purpose of the sfo, temasek and fullerton management pte ltd are deemed to have the 
same interests in the bank as asia financial holdings pte ltd, which has an interest in 11,785,825,118 shares 
of the bank. 
all the interests stated above represented long positions except stated otherwise. save as disclosed above, as at 30 june 2006, no 
other interests or short positions were recorded in the register maintained by the bank under section 336 of the sfo. 
55 
iv significant related party transactions (please refer to article 5 of the condensed consolidated financial statement under 
related party transaction) 
v except as stated below, the bank did not have material merger and acquisition, or sales of assets during the report period. 
followed are highlights of the current report period in purchases & sales of assets and mergers: 
on 1 june, 2006, bocg insurance, a wholly-owned subsidiary of the group, sold a 51% stake of bocg life to boc hong kong 
which the bank holds a stake of 65.87%, at the purchase price of hkd 900 million by reference to the valuation of bocg life as of 
31 december 2005. the group effectively sold a 17.4% stake of bocg life to minorities of boc hong kong, and achieved a gain 
of rmb 138 million. 
bank of china group investment limited, a hong kong subsidiary of the group, sold loans at a book value of rmb 63 million to an 
independent third party in may 2006, giving rise to an income of rmb 723 million, with net income at rmb 660 million. 
vi major contracts and performance 
during the report period and except as disclosed, the bank does not have material assets business with other companies to custody, 
contract or lease their assets, or entrust other companies to custody, contract or lease the bank’s assets. 
the guarantee business is one of our off-balance items in the ordinary course of our business. we carry out guarantee business in a 
prudent manner, and manage risk according to the five-category classification of loans to ensure the asset quality of our guarantee 
business. 
during the report period, no cash assets of the bank were entrusted to others for management. 
vii undertakings 
during the report period, the bank or shareholders holding shares of more than 5% (including 5%) have not made undertakings that 
might have significant adverse impact on the operational results and financial position of the bank. 
viii material litigation and arbitration 
during the report period and except as disclosed herein, there was no material litigation and arbitration that might have significant 
adverse impact on the operation of the bank. 
as of 30 june 2006, the bank has involved in certain litigation and arbitration cases in regular businesses. consulting professional 
legal firms, the management holds that these litigation and arbitration cases will not have significant adverse impacts on the 
operation of the bank. 
ix appointment and dismissal of auditors 
the bank has appointed pricewaterhousecoopers zhong tian certified public accountants limited company and 
pricewaterhousecoopers hong kong as its domestic and international statutory external auditors respectively. 
x punishment and remedial actions required by the bank, board of directors and directors 
during the report period, none of the bank, the board of directors or any director was subject to any investigation and 
administrative punishment from the csrc, or was the subject of a public reprimand from any stock exchange. 
56 
xi explanation on the alteration of business plan 
during the report period and except as publicly disclosed, there has been no material amendment to the bank’s business plan. 
xii warnings and reasons for predicted loss or significant changes in net accumulated profit from the beginning of the 
year to the end of next report period 
the bank does not believe that the net accumulative profit earned from the beginning of the year to the end of the next report period 
would result in a loss, nor would there be significant changes compared with the same period of last year. 
xiii use of ipo proceeds 
fund raising in the current report period is as follow: 
pursuant to the response of cbrc on boc’s absorption of investment and shareholding by ssf (yjf [2006] no. 49), the bank 
issued to ssf 8,514,415,652 ordinary shares on 13 march 2006, par value rmb 1 for each share at a premium. ssf contributed 
rmb 10 billion in cash, with the capital contribution including an equity premium of rmb1, 481 million. 
pursuant to the response of cbrc on boc’s transformation to overseas offering and listing of shares (yjf [2006] no. 53) and 
the response on approving boc’s issuance of foreign capital stock listed abroad (zjghz [2006] no.8), the bank issued at a 
premium to foreign investors 29,403,878,000 foreign capital stocks listed abroad (h share) on 1 june 2006 and 9 june 2006, par 
value of rmb 1 for each share, which were publicly listed on the hong kong stock exchange at an issue price of hk$2.95 per 
share. 
pursuant to the response of cbrc on boc issuing stocks and going public (yjf [2006] no. 135) and the circular on approval of 
boc initial public offering (zjfxz [2006] no.20), the bank issued at a premium to domestic investors 6,493,506,000 ordinary 
shares (a share) on 29 june 2006, par value of rmb 1 for each share, which were publicly listed on the shanghai stock exchange at 
an issue price of rmb3.08 per share. 
funds raised within the report period are mainly used to strengthen the bank’s capital base. 
xiv the audit committee 
the audit committee of the bank is composed of non-executive directors, including two non-executive directors and three 
independent non-executive directors. independent non-executive director patrick de saint-aignan is the chairman; and zhu yan, 
huang haibo, anthony francis neoh and peter cooke are members of the committee. 
the committee assisted the board of directors in supervising the group’s oversight of financial reporting, internal control, internal 
audit and external audit etc. 
the audit committee has reviewed the interim results of the bank .the bank’s external auditors have carried out a review of the 
interim financial statements in accordance with the independent auditing practice pronouncement no.10 – engagements to review 
financial statement but not audited in accordance with chinese independent auditing standards. the audit committee has discussed 
matters such as the accounting standards and the auditing practice, internal control and financial statements adopted in the interim 
report. 
xv directors’ and supervisors’ rights to acquire shares 
on 5 july 2002, the following directors were granted options by boc hong kong (bvi) limited (“boc (bvi)”), the immediate 
holding company of boc hong kong (holdings) limited, pursuant to a pre-listing share option scheme to purchase from boc 
(bvi) existing issued shares of boc hong kong (holdings) limited at a price of hk$8.50 per share. boc hong kong (holdings) 
limited is a subsidiary of the bank which is also listed on the hong kong stock exchange. these options have a vesting period of 
57 
four years from 25 july 2002 with a valid exercise period of ten years. twenty-five percent of the shares subject to such options will 
vest at the end of each year. 
particulars of the outstanding options granted to the directors under the pre-listing share option scheme as at 30 june 2006 are set 
out below: 
number of share options 
date of grant 
exercise 
price 
(hk$) exercisable period 
granted on 5 
july, 2002 
balances as 
at 1 january, 
2006 
exercised 
during the 
period 
surrendered 
during the 
period 
lapsed 
during the 
period 
balances as 
at 30 june 
2006 
hua qingshan 5 july 2002 8.50 25 july 2003 to 4 
july 2012 
1,446,000 1,446,000 ─ ─ ─ 1,446,000 
li zaohang 5 july 2002 8.50 25 july 2003 to 4 
july 2012 
1,446,000 1,446,000 ─ ─ ─ 1,446,000 
save as disclosed above, at no time during the period under review was the bank, its holding companies, or any of its subsidiaries or 
fellow subsidiaries a party to any arrangements to enable the directors and supervisors of the bank and their respective spouses or 
children below the age of 18 to acquire benefits by means of the acquisition of shares in, or debentures of, the bank or any other 
body corporate. 
directors and supervisors’ interests in shares, underlying shares and debentures 
save as disclosed above, as of 30 june 2006, none of the directors or supervisors of the bank had any interests or short positions in 
the shares, underlying shares or debentures of the bank or any associated corporation (within the meaning of part xv of the sfo) as 
recorded in the register required to be kept by the bank pursuant to section 352 of the sfo or as otherwise notified to the bank and 
the hong kong stock exchange pursuant to the model code for securities transactions by directors of listed issuers as set out in 
appendix 10 of the listing rules of the hong kong stock exchange. 
xvi purchase, sale or redemption of the bank’s shares 
the bank issued to ssf 8,514,415,652 ordinary shares on 13 march 2006 at a premium. 
the bank issued 25,568,590,000 ipo h shares in the hong kong stock exchange on 1 june 2006, with the over-allotment option 
exercised on 9 june 3,835,288,000 h-shares were issued. 
the bank issued 6,493,506,000 new a shares on 29 june 2006, and the bank's a shares were listed and commenced trading on the 
shanghai stock exchange on 5 july 2006. 
save for the above, neither the bank nor any of its subsidiaries has purchased, sold or redeemed any of the bank’s shares. 
xvii compliance with the code on corporate governance practices of the listing rules 
the bank endeavored to establish good corporate governance principles and practices and believed that upholding international 
standards of corporate governance is crucial to safeguarding the interests of shareholders. the board of directors and board of 
supervisors have been organized in line with relevant laws and regulations. the board of directors is accountable to the general 
meeting of shareholders and responsible for, among other things, approving the bank ’s business strategy and operating plans, 
appointing senior management and establishing organization structure. with the board of directors at the core, the bank has set up a 
58 
number of board committees, namely strategic development committee, audit committee, risk policy committee, personnel and 
remuneration committee and connected transaction control committee to perform functions designated by the board of directors. 
the board of supervisors is accountable to the general meeting of shareholders and has the responsibility and power to, among other 
things, supervise the board of directors and senior management, inspect the bank ’s financial activities and examine decisions made. 
the bank has conducted a gap analysis between the requirements of the code on corporate governance practices (the “cg code”) 
as set out in appendix 14 of the listing rules of the hong kong stock exchange on the one hand and the group’s internal 
requirements and practices on the other hand. the bank has been in full compliance with the code provisions and has substantially 
complied with the recommended best practices set out in the cg code. 
xviii compliance with the model code for securities transactions by directors 
the bank has adopted the model code for securities transactions by directors of listed issuers as set out in appendix 10 of the 
listing rules of the hong kong stock exchange to govern securities transactions by directors. the bank has made specific enquiry 
of all directors of the bank, and the directors have confirmed that they have complied with the required standards set out in the said 
model code throughout the period under review. 
xix compliance with prc accounting standards for business enterprises and accounting principles for financial 
institutions 
the interim report as at the end of the first half of 2006 is in compliance with the requirements of interim report, prc accounting 
standards for business enterprises and accounting principles for financial enterprise. 
xx interim report 
this interim report is available in both english and chinese. the chinese and english versions of this interim report is available by 
writing to the bank ’s h share registrar, computershare hong kong investor services limited, at hopewell centre, 46th floor, 183 
queen’s road east, wan chai, hong kong. the chinese and english versions of this interim report are available at major business 
locations of the bank. this interim report is also available (in both english and chinese) on the bank ’s website at www.boc.cn, 
www.sse.com.cn, and www.hkex.com.hk. 
if you have any queries about how to obtain copies of this interim report or how to access those documents on 
the bank ’s website, please call the bank ’s hotline at (852) 2862 8633 or 8610-66596688. 
bank of china limited 
condensed consolidated financial statements 
unaudited 
for the six month period ended 30 june 2006 
[english translation for reference only] 
bank of china limited 
condensed consolidated financial statements 
for the period ended 30 june 2006 
contents pages 
review report 1 
condensed financial statements 
balance sheets 2-3 
income statements 4 
statements of changes in shareholders’ equity 5-8 
cash flow statements 9-10 
notes to the condensed financial statements 11-68 
appendix i 69 
appendix ii 70-74 
review report 
pwc zt sz (2006) no. 302 
to the shareholders of bank of china limited: 
we have reviewed the accompanying balance sheet of bank of china limited (the “bank”) as of 30 
june, 2006, and its profit and loss account and cash flow statement for the period then ended, and 
the consolidated balance sheet of bank of china group (the “group” comprising the bank and its 
subsidiaries) as at 30 june 2006 and its consolidated profit and loss account and cash flow 
statement for the period then ended. the bank’s management is responsible for preparing these 
condensed financial statements. our responsibility is to issue a report on these financial statements 
based on our review. 
we conducted our review in accordance with the independent auditing practice pronouncement 
no.10 - engagements to review financial statements. a review is limited primarily to inquiries of 
company personnel and analytical procedures applied to financial data and thus provides less 
assurance than an audit. we have not performed an audit and, accordingly, we do not express an 
audit opinion. 
based on our review, nothing has come to our attention that causes us to believe that the 
accompanying financial statements are not prepared, in all material respects in accordance with the 
accounting standards for business enterprises, the accounting system for financial institutions and 
other relevant accounting regulations. 
pricewaterhousecoopers zhong tian 
certified public accountants limited company 
shanghai, china 
29 august 2006 
普华永道中天会计师事务所有限公司 
11th floor 
pricewaterhousecoopers center 
202 hu bin road 
shanghai 200021 
people's republic of china 
telephone +86 (21) 6123 8888 
facsimile +86 (21) 6123 8800 

bank of china limited 
balance sheets 
as at 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
2 
bank of china group bank of china limited 
assets note 
30 june 
2006 
31 december 
2005 
30 june 
2006 
31 december 
2005 
unaudited audited unaudited audited 
cash 29,811 28,644 26,684 25,144 
precious metals 40,649 30,314 39,003 28,577 
due from central banks iii.1 340,651 316,941 314,986 284,373 
government certificates of 
indebtedness for bank 36,094 35,586 1,650 1,641 
trading and other debt 
securities at fair value 
through profit or loss iii.2 110,602 107,271 81,224 82,082 
derivative financial 
instruments iii.3 21,540 16,808 15,136 11,329 
due from and placements 
with banks and other iii.4 300,114 344,537 223,651 256,786 
debt securities iii.5; iv.1 1,877,669 1,562,320 1,570,481 1,297,990 
loans and advances to 
customers iii.6; iv.2 2,405,536 2,235,046 2,042,201 1,868,105 
less: provision for loan 
losses (88,128) (83,153) (84,753) (79,581) 
interest receivable 23,187 20,408 18,726 16,107 
equity investments iii.7; iv.3 14,775 15,393 69,439 66,951 
fixed assets 71,208 72,978 52,169 53,392 
construction in progress 3,940 3,342 3,933 3,331 
deferred tax assets iii.13 17,410 17,561 17,298 17,428 
other assets 21,875 18,810 11,076 10,384 
total assets 5,226,933 4,742,806 4,402,904 3,944,039 

bank of china limited 
balance sheets 
as at 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
3 
bank of china group bank of china limited 
liabilities note 
30 june 
2006 
31 december 
2005 
30 june 
2006 
31 december 
2005 
unaudited audited unaudited audited 
due to central banks iii.8 30,495 30,055 30,470 30,030 
bank notes in circulation 36,151 35,731 1,708 1,786 
derivative financial instruments 
and liabilities at fair value 
through profit or loss iii.9 101,172 91,174 80,777 76,323 
due to and placements from 
banks and other financial 358,349 345,233 350,337 343,574 
deposits from customers iii.10; iv.4 4,053,024 3,703,777 3,356,973 3,009,187 
interest payable 31,485 27,024 29,559 25,291 
special purpose borrowings iii.11 49,622 52,164 49,622 52,164 
bonds issued iii.12 60,177 60,179 60,177 60,179 
deferred tax liabilities iii.13 254 184 22 22 
other liabilities iii.14 119,751 134,665 85,618 111,641 
total liabilities 4,840,480 4,480,186 4,045,263 3,710,197 
minority interests iii.16 28,812 28,778 - - 
shareholder’s equity 
share capital iii.17 253,839 209,427 253,839 209,427 
capital reserve iii.18 76,545 3,978 75,888 3,978 
surplus reserve iii.19 8,095 5,987 8,095 5,987 
general reserve and statutory 
reserve of subsidiary iii.19 9,398 5,109 9,398 5,109 
undistributed profits iii.19 23,837 12,585 24,494 12,585 
reserve for fair value changes of 
available-for-sale securities iii.19 (11,954) (1,380) (11,954) (1,380) 
currency translation differences (2,119) (1,864) (2,119) (1,864) 
total shareholder’s equity 357,641 233,842 357,641 233,842 
total liabilities and shareholder’s 
equity 5,226,933 4,742,806 4,402,904 3,944,039 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: general manager in charge of the accounting 
li lihui liu yanfen 
bank of china limited 
income statement 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
4 
for the six month period ended 30 june 
bank of china group bank of china limited 
note 2006 2005 2006 2005 
unaudited unaudited unaudited unaudited 
interest income iii.20; iv.5 99,777 77,466 79,525 66,038 
interest expense iii.20; iv.5 (45,301) (28,808) (33,197) (24,401) 
net interest income 54,476 48,658 46,328 41,637 
net fee and commission income iii.21; iv.6 6,841 4,518 4,762 3,029 
net trading (expense)/income iii.22; iv.7 (193) 2,993 (282) 2,250 
investment income iii.23; iv.8 1,681 149 7,652 4,840 
other operating income, net iii.24 1,797 361 245 12 
64,602 56,679 58,705 51,768 
operating and administrative expenses iii.25; iv.9 (23,193) (21,000) (19,715) (17,744) 
business tax and surcharges iii.26 (2,987) (2,670) (2,952) (2,650) 
operating profit 38,422 33,009 36,038 31,374 
non-operating income, net 467 1,145 222 777 
profit before impairment losses 38,889 34,154 36,260 32,151 
impairment losses iii.27; iv.10 (4,876) (4,576) (5,680) (6,116) 
profit before tax 34,013 29,578 30,580 26,035 
income tax iii.28 (12,362) (10,860) (10,937) (9,601) 
profit after tax 21,651 18,718 19,643 16,434 
minority interests (2,627) (2,284) - - 
net profit 19,024 16,434 19,643 16,434 
earnings per share for profit 
attributable to the shareholders of 
the bank during the 
period(expressed in renminbi per 
ordinary share) iii.29 
- basic 0.09 0.09 
- diluted 0.09 0.09 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: general manager in charge of the accounting 
li lihui liu yanfen 
bank of china limited 
statements of changes in shareholder’s equity 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
5 
unaudited 
bank of china group 
note 
share 
capital 
capital 
reserve 
statutory 
reserves 
general and 
regulatory 
reserves 
undistributed 
profits 
reserve for fair 
value changes 
of available-forsale 
securities 
currency 
translation 
difference
s total 
at 1 january 2006 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
net profit for the period - - - - 19,024 - - 19,024 
issue of ordinary shares iii.17;iii.18 44,412 72,567 - - - - - 116,979 
appropriation to statutory reserve iii.19 - - 2,108 - (2,108) - - - 
appropriation to general and 
regulatory reserves iii.19 
- - - 4,291 (4,291) - - - 
net fair value changes of availablefor-
sale securities iii.19 
- - - - - (10,574) - (10,574) 
dividend iii.19 - - - - (1,375) - - (1,375) 
currency translation differences - - - - - - (255) (255) 
others - - - (2) 2 - - - 
at 30 june 2006 253,839 76,545 8,095 9,398 23,837 (11,954) (2,119) 357,641 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: general manager in charge of the accounting 
li lihui liu yanfen 
bank of china limited 
statements of changes in shareholder’s equity 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
6 
unaudited 
bank of china limited 
note 
share 
capital 
capital 
reserve 
statutory 
reserves 
general and 
regulatory 
reserves 
undistributed 
profits 
reserve for fair 
value changes 
of available-forsale 
securities 
currency 
translation 
difference
s total 
at 1 january 2006 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
net profit for the period - - - - 19,643 - - 19,643 
issue of ordinary shares iii.17;iii.18 44,412 72,219 - - - - 116,631 
appropriation to statutory reserve iii.19 - - 2,108 - (2,108) - - - 
appropriation to general and 
regulatory reserves iii.19 
- - - 4,291 (4,291) - - - 
net fair value changes of availablefor-
sale securities iii.19 
- - - - - (10,574) - (10,574) 
dividend iii.19 - - - - (1,375) - - (1,375) 
currency translation differences - - - - - - (255) (255) 
others iii.18 - (309) - (2) 40 - - (271) 
at 30 june 2006 253,839 75,888 8,095 9,398 24,494 (11,954) (2,119) 357,641 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: general manager in charge of the accounting 
li lihui liu yanfen 
bank of china limited 
statements of changes in shareholder’s equity 
for the six month period ended 30 june 2005 
(amount in millions of renminbi, unless otherwise stated) 
7 
unaudited 
bank of china group and bank of china limited 
note 
share 
capital 
statutory 
reserves 
general reserve and 
statutory reserve 
of subsidiary 
undistributed 
profits 
reserve for fair value 
changes of availablefor-
sale securities 
currency 
translation 
differences total 
at 1 january 2005 186,390 3,140 419 17,373 (2,315) 344 205,351 
net profit for the year - - - 16,434 - - 16,434 
additions - 75 2,480 (2,555) - - - 
net changes in fair value of 
available-for-salesecurities reserve 
- - - 
- 3,349 
- 3,349 
currency translation differences - - - - - (354) (354) 
at 30 june 2005 186,390 3,215 2,899 31,252 1,034 (10) 224,780 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: general manager in charge of the accounting 
li lihui liu yanfen 
bank of china limited 
statements of changes in shareholder’s equity 
for the year ended 31 december 2005 
(amount in millions of renminbi, unless otherwise stated) 
8 
unaudited 
bank of china group and bank of china limited 
note 
share 
capital 
capital 
reserve 
statutory 
reserves 
general reserve 
and statutory 
reserve of 
subsidiary 
undistributed 
profits 
reserve for fair 
value changes of 
available-for-sale 
securities 
currency 
translation 
differences total 
at 30 june 2005 186,390 - 3,215 2,899 31,252 1,034 (10) 224,780 
net profit for the year - - - - 11,058 - - 11,058 
issue of ordinary shares iii.17 23,037 3,964 - - - - - 27,001 
appropriation iii.19 - - 2,772 2,210 (4,982) - - - 
net fair value changes of available-forsale 
securities iii.19 - - - - - (2,414) - (2,414) 
dividend iii.19 - - - - (26,937) - - (26,937) 
adoption of equity accounting for 
investment in an associate - - - - 2,194 - - 2,194 
currency translation differences - - - - - - (1,854) (1,854) 
others - 14 - - - - - 14 
at 31 december 2005 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: general manager in charge of the accounting 
li lihui liu yanfen 
bank of china limited 
cash flow statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
9 
for the six month period ended 30 june 
note bank of china group bank of china limited 
2006 2005 2006 2005 
unaudited unaudited unaudited unaudited 
cash flows from operating activities 
interest received 96,998 75,995 76,906 64,952 
commission received 7,505 5,919 5,218 3,701 
cash received from bad debts written-off 
previously 986 1,823 250 607 
net increase in customer deposits (including 
structured deposits ) 349,247 246,881 347,786 248,163 
net decrease/(increase) in due from and 
placements with banks and other financial 
institutions 15,392 58,072 39,448 17,039 
net increase in due to and placements from 
banks and other financial institutions 13,116 45,141 6,763 20,378 
net change in other operating items (2,811) 392 (18,114) (10,686) 
cash inflows from operating activities 480,433 434,223 458,257 344,154 
cash paid for interest on customer deposits 
and inter-bank balances (39,461) (24,782) (27,550) (20,572) 
commission paid (1,325) (1,397) (460) (673) 
cash paid to and on behalf of the employees (13,670) (11,289) (11,139) (9,290) 
cash paid for operating expenses and others (7,322) (6,450) (6,399) (5,397) 
income tax paid (15,279) (13,331) (14,681) (12,859) 
business and other taxes paid (3,421) (2,763) (3,387) (2,738) 
net increase in loans (171,476) (140,154) (175,023) (111,643) 
net increase in debt securities (315,213) (174,485) (269,766) (148,567) 
net increase in statutory deposit reserve with 
central banks (18,820) (24,116) (24,531) (24,119) 
net increase in precious metals (10,335) 4,832 (10,426) 4,816 
net decrease in due to central banks 440 (9,777) 440 (9,776) 
net decrease in special purpose borrowings (2,542) (8,896) (2,542) (8,896) 
cash outflows from operating activities (598,424) (412,608) (545,464) (349,714) 
net cash inflows/(outflows) from operating 
activities 
iii.30; 
iv.11 (117,991) 21,615 (87,207) (5,560) 

bank of china limited 
cash flow statements (continued) 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
10 
for the six month period ended 30 june 
note bank of china group bank of china limited 
2006 2005 2006 2005 
unaudited unaudited unaudited unaudited 
cash flows from investing activities 
cash received from disposal of fixed assets and 
other assets 625 1,651 73 690 
cash received from disposal of equity 
investments 609 660 69 267 
dividends received 20 36 3,894 3,340 
cash inflows from investing activities 1,254 2,347 4,036 4,297 
cash paid for purchase of fixed assets and other 
assets (2,190) (1,766) (1,730) (1,556) 
cash paid for increase of equity investments (270) (1,506) (447) (49) 
cash outflows from investing activities (2,460) (3,272) (2,177) (1,605) 
net cash (outflows)/inflows from investing 
activities (1,206) (925) 1,859 2,692 
cash flows from financing activities 
cash received from issuance of ordinary shares 117,423 - 116,766 - 
cash received from issuance of subordinated 
bonds - 33,930 - 33,930 
cash received from minority shareholders as 
additional capital injection to subsidiaries 86 5 - - 
cash inflows from financing activities 117,509 33,935 116,766 33,930 
c ash payments for interest on bonds issued (1,379 ) (15) (1,379 ) (15) 
dividend payments (3,266) (1,637) (1,375) - 
others (238) - (238) - 
cash outflows from financing activities (4,883) (1,652) (2,992) (15) 
net cash inflows from financing activities 112,626 32,283 113,774 33,915 
effect of foreign exchange rate changes (1,068) (4,159) 1 (4,032) 
increase in cash and cash equivalents (7,639) 48,814 28,427 27,015 
cash and cash equivalents at 1 january 397,112 366,142 275,623 274,215 
cash and cash equivalents at 30 june 
iii.30; 
vi.11; 389,473 414,956 304,050 301,230 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: vice president in charge of accounting function: 
xiao gang zhou zaiqun 
deputy chairman and president: 
general manager in charge of the accounting 
department: 
li lihui liu yanfen 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
11 
i basis of preparation and consolidation 
1 basis of preparation 
the unaudited condensed consolidated financial statements have been prepared in accordance with 
the accounting standards for business enterprises, the accounting system for financial institutions 
and other relevant accounting regulations applicable to the group. the interim financial statements , 
and should be read in conjunction with the 2005 annual financial statements. 
the unaudited condensed consolidated financial statements have been prepared in accordance with 
the accounting standards for business enterprises — interim reporting issued by mof and in 
accordance with disclosure — no.3 contents and reporting formats for listed companies (2003 
revised) issued by china securities regulatory commission. 
the principal accounting policies adopted in the preparation of the unaudited condensed 
consolidated financial statement are consistent with those used in the group’s accounts for the year 
ended 31 december 2005. 
in february 2006, the mof issued 39 new and revised accounting standards for enterprises as part 
of the prc government’s initiative to converge the prc gaap with international financial reporting 
standards. these new standards, which are mandatory for all listed companies and optional for 
others, are effective for accounting periods commencing on or after 1 january 2007. the group 
plans to implement these standards, effective 1 january 2007 and has commenced an assessment 
of their effect on the group's existing accounting policies. while management’s assessment of the 
new standards is not yet completed, principal differences with the group’s existing accounting 
policies include the following: 
(1) except for the equity investments held for trading in overseas operations, the group currently 
accounts for equity investments at cost less impairment. under the new standards, equity 
investments other than investments in subsidiaries, associates and investments held for trading will 
be classified as available-for-sale securities. management plans to classify and account for other 
equity investments as available-for-sale according to the new standards and those investments with 
active market quotation will be recorded at fair value with gains or losses reported in shareholders’ 
equity. 
(2) the group currently accounts for investment properties at cost less impairment. under the new 
standards, these assets can either be measured at fair value or at amortised cost less impairment. 
the method can not be changed once it is selected by management. management plans to account 
for investment properties using fair value. 
(3) the group currently accounts for the early retirement benefits on a cash basis when paid. under the 
new standards, a liability is required to be recorded at actuarially determined value of future early 
retirement benefits payable to employees who have commenced early retirement, with changes in 
the value of this liability reported in the income statement. 
(4) the bank currently accounts for its investment in subsidiaries using equity accounting method in the 
bank’s financial statements. under the new standards, these investments are stated at cost in the 
bank’s financial statements. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
12 
i basis of preparation and consolidation (continued) 
2 basis of consolidation 
the consolidated financial statements include the accounts of the bank and its subsidiaries. the 
significant subsidiaries of the bank are presented in section ii, “subsidiaries”. 
the bank fully consolidates its subsidiaries from the date on which the bank obtains actual control of 
the subsidiaries and the bank de-consolidates them from the date that control ceases to exist. all 
significant intercompany balances, intercompany transactions and intercompany unrealised profits or 
losses are eliminated on consolidation. minority interests represent the interests of minority 
shareholders in the operating results and net assets of the bank’s subsidiaries. 
accounting policies of subsidiaries have been adjusted where necessary to ensure consistency with 
the policies adopted by the group. 
3 segment reporting 
a business segment is a group of assets and operations engaged in providing products and services 
that are subject to risks and returns that are different from those of other business segments. a 
geographical segment is engaged in providing products and services within a particular economic 
environment that are subject to risks and returns that are different from those of segments operating 
in other economic environments. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
13 
ii subsidiaries 
as at 30 june 2006, the principal subsidiaries set out below are consolidated. all holdings are in the 
ordinary share capital of the undertaking concerned. 
name 
place of 
incorporation / 
establishment 
equity 
held 
(%) 
registered 
capital/ 
paid-in 
capital 
(in millions) principal business 
directly controlled 
boc hong kong (group) limited hong kong 100.00 hkd34,806 holding company 
boc international holdings limited hong kong 100.00 hkd3,539 investment banking 
bank of china group insurance 
company limited 
hong kong 100.00 hkd1,269 insurance services 
bank of china group investment 
limited 
hong kong 100.00 hkd200 
holding of industrial 
and other 
investments 
tai fung bank limited macau 50.31 mop1,000 commercial banking 
indirectly controlled 
boc hong kong (holdings) 
limited(1) 
hong kong 65.87 hkd52,864 holding company 
bank of china (hong kong) limited hong kong 65.87 hkd43,043 commercial banking 
nanyang commercial bank limited hong kong 65.87 hkd600 commercial banking 
chiyu banking corporation limited(2) hong kong 46.43 hkd300 commercial banking 
boc credit card (international) 
limited 
hong kong 65.87 hkd480 credit card services 
boc group trustee company 
limited (3) 
hong kong 76.31 hkd200 provision of trustee 
services 
(1) listed on the stock exchange of hong kong. 
(2) bank of china (hong kong) limited holds 70.49% share of this company. 
(3) bank of china (hong kong) limited, nanyang commercial bank limited, chiyu banking corporation 
limited and boc international holdings limited hold 54%, 6%, 6% and 34% shares of this company 
respectively. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
14 
iii notes to the consolidated financial statements 
1 due from central banks 
30 june 2006 31 december 2005 
settlement account balances with the pboc 88,305 89,124 
due from overseas central banks 25,763 25,787 
subtotal 114,068 114,911 
rmb statutory deposit reserve with the pboc 203,119 182,825 
foreign currency statutory deposit reserve with the 
pboc 13,549 13,595 
fiscal deposits with the pboc 7,876 3,355 
statutory deposit reserve with overseas central banks 2,039 2,255 
subtotal 226,583 202,030 
total 340,651 316,941 
domestic operations are required to place an rmb statutory deposit reserve, a foreign currency 
statutory deposit reserve and a fiscal deposit with the pboc. at 30 june 2006, the required reserve 
ratio for customer deposits denominated in rmb was 7.5% (2005: 7.5%); the required reserve ratio 
for customer deposits denominated in foreign currencies is 3% (2005: 3%). the fiscal deposit of 
domestic operations is comprised of funds from government agencies, and proceeds of bonds 
issued on behalf of the mof. the foreign currency deposit reserve and fiscal deposits placed with 
the pboc are non-interest bearing. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
15 
iii notes to the consolidated financial statements (continued) 
2 trading and other debt securities at fair value through profit or loss 
30 june 2006 31 december 2005 
trading 
government bonds 27,761 19,116 
public sector and quasi government bonds 3,088 2,095 
financial institution bonds 23,600 30,599 
corporate bonds 3,794 4,179 
sub-total 58,243 55,989 
other debt securities at fair value through profit or loss 
(designated at initial recognition) 
government bonds 9,267 10,704 
public sector and quasi government bonds 11,218 12,974 
financial institution bonds 26,667 19,979 
corporate bonds 5,207 7,625 
sub-total 52,359 51,282 
total 110,602 107,271 
included in other debt securities at fair value through profit or loss are debt securities with respect to 
which the group has established economic hedges using derivative instruments. gains and losses 
arising on the derivatives are intended to substantially offset the gains and losses arising on these 
securities, which might have otherwise been classified as “available-for-sale” or “held-to-maturity” 
securities. 
3 derivative financial instruments 
the group enters into the following foreign exchange rate or interest rate related derivative financial 
instruments for trading and risk management purposes: 
the contractual/notional amount and fair values of derivative instruments held by the group are set 
out in the following table. the contractual/notional amounts of certain types of financial instruments 
provide a basis for comparison with fair value instruments recognised on the balance sheet but do 
not necessarily indicate the amounts of future cash flows involved or the current fair value of the 
instruments and, therefore, do not indicate the group’s exposure to credit or market risks. the 
derivative instruments become favourable assets or unfavourable (liabilities) as a result of 
fluctuations in market exchange rate, interest rates or equity/commodity prices relative to their terms. 
the aggregate fair values of derivative financial assets and liabilities can fluctuate significantly from 
time to time. 
the fair values of derivatives that are not quoted in active markets are determined by using valuation 
techniques. valuation techniques used include discounted cash flows analysis and models. to the 
extent practical, models use only observable data, such as interest rate and foreign exchange rates, 
however areas such as credit risk (both own and counterparty’s), volatilities and correlations require 
management to make estimates. changes in such observable data and assumptions about these 
factors could affect reported fair value of financial instruments. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
16 
iii notes to the consolidated financial statements (continued) 
3 derivative financial instruments (continued) 
at 30 june 2006 
contractual / 
notional amount fair values 
assets liabilities 
foreign exchange derivatives 
currency forwards (1） 800,207 8,412 (5,040) 
otc currency options (2) 268,738 4,348 (708) 
sub-total 12,760 (5,748) 
interest rate derivatives 
interest rate swaps 402,830 6,194 (7,333) 
cross-currency interest rate swaps 38,209 1,943 (3,980) 
otc interest rate options 149,528 146 (1,058) 
interest rate futures 17,552 21 (3) 
sub-total 8,304 (12,374) 
equity derivatives 11,223 166 (227) 
precious metals derivatives 10,686 310 (412) 
total derivative financial instruments 
assets/(liabilities) (note iii.9) 
21,540 (18,761) 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
17 
iii notes to the consolidated financial statements (continued) 
3 derivative financial instruments (continued) 
at 31 december 2005 
contractual / 
notional amount fair values 
assets liabilities 
foreign exchange derivatives 
currency forwards (1) 563,397 6,991 (4,813) 
otc currency options (2) 196,012 3,781 (374) 
sub-total 10,772 (5,187) 
interest rate derivatives 
interest rate swaps 361,332 3,132 (5,246) 
cross-currency interest rate swaps 39,427 1,735 (4,131) 
otc interest rate options 110,578 148 (215) 
interest rate futures 14,939 28 (34) 
sub-total 5,043 (9,626) 
equity derivatives 15,442 14 (7) 
precious metals derivatives 21,008 979 (932) 
total derivative financial instruments 
assets/(liabilities) (note iii.9) 16,808 
(15,752) 
(1) since 2005, the pboc selected certain domestic banks, including the bank, to conduct foreign 
exchange swap transactions. under these agreements, the pboc sold usd to the bank in spot 
transactions for rmb and agreed to buy back the usd after one year at agreed exchange rates, 
which reflect the interest rate differentials between usd and rmb at the respective inception date of 
the transactions. 
(2) on 5 january 2005, the bank entered into a foreign currency option agreement with central safe 
investment limited (“huijin”) whereby the bank acquired options to sell huijin usd, totaling usd 18 
billion, of no more than usd 1,500 million at the beginning of each calendar month during the year 
ending 31 december 2007 at a fixed exchange rate of usd 1 to rmb 8.2769. the related option 
premium amounted to rmb 4,469 million, is payable by the bank to huijin in 12 equal monthly 
installments at the beginning of each calendar month during the year ending 31 december 2007. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
18 
iii notes to the consolidated financial statements (continued) 
4 due from and placements with banks and other financial institutions 
30 june 2006 31 december 2005 
due from banks 
due from domestic banks 2,860 4,305 
due from overseas banks 4,114 8,133 
sub-total 6,974 12,438 
placements with banks and other financial institutions 
placements with domestic banks 53,862 52,439 
placements with other domestic financial 
institutions 50,605 26,302 
placements with overseas banks 189,217 253,904 
sub-total 293,684 332,645 
provision for impairment (544) (546) 
sub-total 293,140 332,099 
total 300,114 344,537 
as at 30 june 2006, placements with banks and other financial institutions reported on non-accrual 
basis were rmb 544 million (2005: rmb 546 million). 
placements with banks and other financial institutions include balances arising from reverse repo 
agreements as follows: 
30 june 2006 31 december 2005 
bills discounted under reverse repos 14,007 7,592 
bonds under reverse repos 
government bonds 47,109 41,857 
financial institution bonds 26,476 20,191 
total 87,592 69,640 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
19 
iii notes to the consolidated financial statements (continued) 
5 debt securities 
30 june 2006 31 december 2005 
debt securities available-for-sale (at fair value): 
government bonds 309,350 229,064 
public sector and quasi government bonds 247,158 106,840 
financial institution bonds 228,024 170,038 
corporate bonds 134,643 87,068 
sub-total 919,175 593,010 
debt securities held-to-maturity (at amortised cost): 
government bonds 224,065 231,156 
public sector and quasi government bonds 119,604 135,002 
financial institution bonds 192,294 203,724 
corporate bonds 33,163 37,577 
sub-total 569,126 607,459 
debt securities classified as loans and receivables (at 
amortised cost): 
china orient bond 160,000 160,000 
pboc special bills (1) 91,612 91,530 
special purpose treasury bond 42,500 42,500 
short term bills and notes 
- public sector and quasi government bonds 15,260 6,096 
- financial institution bonds 67,676 49,993 
- corporate bonds 1,825 - 
certificate treasury bonds and others 10,647 11,888 
389,520 362,007 
provision for impairment (152) (156) 
sub-total 389,368 361,851 
total (2) 1,877,669 1,562,320 
(1) on 22 june 2006, the pboc issued special pboc bills amounting to rmb 82 million in exchange for 
certain debt for equity swap loans, as previously approved by the state council. the tenor of the bill 
is 5 years, with an interest rate of 1.89% per annum. the bills cannot be circulated, transferred or 
pledged as collateral, unless otherwise approved by pboc. 
(2) as at 30 june 2006, debt securities of rmb 76,822 million (2005: rmb 49,658 million) were pledged 
as collateral to third parties under agreement to repurchase. refer to note ix.2. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
20 
iii notes to the consolidated financial statements (continued) 
6 loans and advances to customers 
(1) analysed by security type 
loans and advances to customers are analysed by the form of security as follows: 
30 june 2006 31 december 2005 
unsecured loans 578,987 475,764 
guaranteed loans 723,502 684,824 
collateralised and other secured loans 1,103,047 1,074,458 
total 2,405,536 2,235,046 
(2) analysed by industry sector 
30 june 2006 31 december 2005 
corporate loans 
manufacturing 591,908 531,191 
commercial and servicing 323,348 301,863 
real estate 201,585 190,297 
energy, mining and agriculture 252,416 230,854 
transportation and logistics 200,503 193,428 
public services 104,827 91,924 
financial services 112,153 96,245 
construction 38,304 36,050 
others 39,037 40,191 
sub-total 1,864,081 1,712,043 
consumer loans 
residential mortgages 428,119 413,007 
vehicle loans 24,391 28,005 
credit card and others 88,945 81,991 
sub-total 541,455 523,003 
total 2,405,536 2,235,046 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
21 
iii notes to the consolidated financial statements (continued) 
6 loans and advances to customers (continued) 
(3) accrual and non-accrual loans 
30 june 2006 31 december 2005 
accrual loans 2,322,496 2,158,232 
non-accrual loans 83,040 76,814 
total 2,405,536 2,235,046 
(4) as at 30 june 2006, loans and advances to customers include bills pledged as collateral under 
reverse repurchase agreements amounting to rmb 5,569 million (2005: rmb 11,968 million). refer 
to note ix.2. 
7 equity investments 
30 june 2006 31 december 2005 
investment in associates (1) 5,673 5,100 
other equity investments (2) 6,675 7,043 
12,348 12,143 
less: impairment provision (1,138) (1,243) 
11,210 10,900 
equity investments held for trading (at fair value) (3) 3,565 4,493 
total 14,775 15,393 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
22 
iii notes to the consolidated financial statements (continued) 
7 equity investments(continued) 
(1) as at 30 june 2006, the principal associates of the group are as follows: 
place of 
incorporation/ 
establishment 
equity 
held 
paid-in 
capital 
principal business 
(%) (in millions) 
huaneng international power 
development corporation prc 20 usd450 
construct and operate 
electricity factory and 
related projects 
boc international (china) 
limited prc 49 rmb1,500 
securities underwriting, 
investment advisory, and 
brokerage services 
cjm insurance brokers 
limited hong kong 33 hkd6 insurance broker 
joint electronic teller 
services limited hong kong 19.96 hkd10 
private inter-bank 
message switching 
network and atm services 
dongfeng peugeot citroen 
auto finance company 
ltd prc 50 rmb500 
car loan and financing 
services 
(2 ) o ther equity investments mainly include: (i) equity investments held for investment purpose by the 
bank’s subsidiaries in hong kong; and (ii) certain historical non-banking equity investments held by 
domestic operations. in december 2005, the bank entered into a contract with china orient and 
transfered out most of its historical non-banking equity investments. 
(3 ) e quity investments held for trading principally comprise listed shares held by the bank’s subsidiaries 
in hong kong. 
8 due to central banks 
30 june 2006 31 december 2005 
special foreign exchange deposits of government 
agencies 30,080 28,873 
borrowings from central banks 33 520 
others 382 662 
total 30,495 30,055 
9 derivative financial instruments and liabilities at fair value through profit or loss 
30 june 2006 31 december 2005 
derivative financial instruments liabilities (note iii. 3) 18,761 15,752 
liabilities at fair value through profit or loss 
structured deposits 75,092 70,069 
short position in foreign currency debt securities 4,057 3,740 
short position in exchange fund bills 3,262 1,613 
sub-total 82,411 75,422 
total 101,172 91,174 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
23 
iii notes to the condensed consolidated financial statements (continued) 
10 deposits from customers 
30 june 2006 31 december 2005 
short-term corporate deposits 
corporate demand deposits 940,638 836,763 
corporate time deposits less than one year 527,225 486,681 
sub-total 1,467,863 1,323,444 
short-term saving deposits 
demand deposits 734,894 667,957 
time deposits less than one year 1,309,567 1,243,964 
sub-total 2,044,461 1,911,921 
long-term corporate deposits 32,157 26,317 
long-term saving deposits 339,763 313,703 
securities and margin deposits 168,780 128,392 
total 4,053,024 3,703,777 
the securities and margin deposits are analysed as follows: 
security deposits for bank acceptance 92,106 63,556 
security deposits for letters of credit and letters of 
guarantee issued 29,206 26,785 
margin deposits for foreign exchange transactions 10,524 8,638 
others 36,944 29,413 
total 168,780 128,392 
11 special purpose borrowings 
30 june 2006 31 december 2005 
export credit loans 15,826 17,147 
foreign government loans 18,076 18,414 
other subsidised loans 15,720 16,603 
total 49,622 52,164 
special purpose borrowings are long-term borrowings from foreign governments and/or banks in the 
form of export credit loans, foreign government loans and other subsidised loans. these special 
purpose loans are normally used to finance projects with special commercial purposes in prc and 
the bank is obliged to repay these loans when they fall due. 
as at 30 june 2006, the maturity of special purpose borrowings ranges from within 1 month to 37 
years, with floating & fixed interest rates range from 0.2% to 9.2%, which are consistent with those 
related to similar development loans from these entities. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
24 
iii notes to the condensed consolidated financial statements (continued) 
12 bonds issued 
issue date maturity date interest rate 30 june 2006 31 december 2005 
bonds issued (1) 
1994 boc us dollar 
debt securities 10 march 1994 15 march 2014 8.25% 177 179 
subordinated bonds issued (2) 
2004 boc rmb debt securities 
- first tranche 7 july 2004 20 july 2014 4.87% 14,070 14,070 
- second tranche 22 october 2004 16 november 2014 4.94% 12,000 12,000 
2005 boc rmb debt securities 
- first tranche 18 february 2005 4 march 2015 4.83% 15,930 15,930 
- second tranche 
(fixed rate) 18 february 2005 4 march 2020 5.18% 9,000 9,000 
- second tranche 
(floating rate) 18 february 2005 4 march 2015 floating rate 9,000 9,000 
sub-total 60,000 60,000 
total 60,177 60,179 
(1) the bank and the bond holders are prohibited from redeeming or requesting an early redemption of 
these bonds before the maturity dates. 
(2) these rmb subordinated bonds are subordinated to all other claims on the assets of the bank, except 
for those of the shareholders. in the calculation of the group’s capital adequacy ratio, these bonds 
qualify for inclusion as supplementary capital. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
25 
iii notes to the condensed consolidated financial statements (continued) 
13 deferred income taxes assets/liabilities 
deferred income taxes are calculated on the timing differences under the liability method using the 
relevant local tax rates applicable to the group’s operation. the movement on the deferred income 
tax account is as follows: 
2006 2005 
at 1 january 17,377 18,647 
charge in the income statement (note iii.28) (226) (1,252) 
exchange differences 5 (18) 
at 30 june /31december 17,156 17,377 
deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset 
current tax assets against current tax liabilities and when the deferred income taxes relate to the same 
fiscal authority. the table below includes the group's deferred income tax assets and liabilities after 
offsetting qualifying amounts: 
30 june 2006 31 december 2005 
deferred income tax assets 17,410 17,561 
deferred income tax liabilities (254) (184) 
total 17,156 17,377 
deferred income tax assets and liabilities are attributable to the following items: 
30 june 2006 31 december 2005 
deferred income tax assets 
asset impairment provision 18,012 17,744 
fair value changes of trading and other fair value 
through profit or loss securities and derivative 
financial instruments 3,902 3,046 
other timing differences 602 696 
sub-total 22,516 21,486 
deferred income tax liabilities 
fair value changes of trading and other fair value 
through profit or loss securities and derivative 
financial instruments (4,319) (3,643) 
depreciation of fixed assets (445) (424) 
other timing differences(1) (596) (42) 
sub-total (5,360) (4,109) 
total 17,156 17,377 
(1) mainly includes the deferred tax liabilities of rmb 545 million in relation to the supplementary tax on 
overseas income generated from the profit of certain overseas subsidiaries owned by the group for 
the six month period ended 30 june 2006. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
26 
iii notes to the condensed consolidated financial statements (continued) 
13 deferred income taxes assets/liabilities (continued) 
the deferred tax charge in the profit and loss account comprises the following timing differences: 
30 june 2006 31 december 2005 
asset impairment provision 265 1,467 
fair value change of debt securities and derivative 
financial instruments 190 (2,338) 
other timing differences (681) (381) 
total (note iii.28) (226) (1,252) 
14 other liabilities 
subsidiaries of the bank undertake insurance bussiness. included in other liabilities are insurance 
liabilities as of 30 june 2006 and 31 december 2005 arising from insurance contracts analysed as 
follows: 
as at 30 june as at 31 december 
2006 2005 
long term insurance contracts 11,093 8,383 
general insurance contracts 2,111 2,079 
total insurance liabilities, net 13,204 10,462 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
27 
iii notes to the condensed consolidated financial statements (continued) 
15 share appreciation rights plan and share option schemes 
(1) share appreciation rights plan 
on 22 november 2005, the bank’s board of directors and shareholders approved and adopted a 
share appreciation rights plan under which eligible participants including directors, supervisors, 
management and other personnel designated by the board, will be granted share appreciation rights, 
up to 25% of which will be exercisable each year beginning on the third anniversary date from the 
date of the grant. the share appreciation rights will be valid for seven years from the date of grant. 
eligible participants will be entitled to receive an amount equal to the difference, if any, between the 
average closing market price of the bank’s h shares in the ten days prior to the date of grant and the 
average closing market price of the bank’s h shares in the 12 months prior to the date of exercise as 
adjusted for any change in the bank’s equity. the plan provides cash-settled share-based payment 
only and accordingly, no share will be issued under the share appreciation rights plan. 
no share appreciation rights were granted during the six month period ended 30 june 2006 and no 
rights were outstanding with respect to the share appreciation rights plan as of 30 june 2006 and 
31 december 2005. 
(2) share option scheme and sharesave plan 
on 10 july 2002, the shareholders of bochk holdings, approved and adopted two share option 
schemes, namely, the share option scheme and the sharesave plan. 
no options were granted during the six month period ended 30 june 2006 and no options were 
outstanding with respect to the share option scheme or the sharesave plan as of 30 june 2006 and 
31 december 2005. 
(3) bochk holdings pre-listing share option scheme 
on 5 july 2002, certain of the bank's directors, senior management personnel and employees of the 
group were granted options by boc hong kong (bvi) limited ("bochk (bvi)"), the immediate 
holding company of bochk holdings, pursuant to a pre-listing share option scheme to purchase 
from bochk (bvi) an aggregate of 31,132,600 previously issued and outstanding shares of bochk 
holdings for hkd8.50 per share. these options, with a ten-year term, vest ratably over four years 
from 25 july 2002. no further offers to grant any options under the pre-listing share option scheme 
will be made. the group has no legal or constructive obligation to repurchase or settle the options in 
cash. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
28 
iii notes to the condensed consolidated financial statements (continued) 
15 share appreciation rights plan and share option schemes (continued) 
(3) bochk holdings pre-listing share option scheme (continued) 
details of the movement of share options outstanding are as follows: 
shares 
directors 
and key 
management 
other 
employees others (1) 
total 
number of 
shares 
at 1 january 2006 6,142,500 10,619,250 1,446,000 18,207,750 
transfer 239,000 (239,000) - - 
less: share options exercised 
during the period - 
(1,994,050
) - (1,994,050) 
at 30 june 2006 6,381,500 8,386,200 1,446,000 16,213,700 
at 1 january 2005 6,142,500 12,849,300 1,446,000 20,437,800 
less: share options exercised 
during the year - 
(2,121,550
) - (2,121,550) 
less: share options lapsed 
during the year - (108,500) - (108,500) 
at 31 december 2005 6,142,500 10,619,250 1,446,000 18,207,750 
(1) these represent share options held by former directors or former employees of the bochk holdings. 
regarding the share options exercised during the six month period ended 30 june 2006 and year 
ended 31 december 2005, the weighted average share price of bochk holdings' shares at the time 
of exercise was hkd 15.88 (equivalent to rmb 16.42)and hkd 15.01 (equivalent to rmb 15.61). 
16 minority interests 
2006 2005 
at 1 january 28,778 27,387 
share of current period/year profit 2,627 5,105 
increase of shares in a subsidiary (52) 17 
dividends paid to minority shareholders (1,891) (2,954) 
net change in fair value of available-forsales 
investments (342) (110) 
currency translation difference (308) (667) 
at 30 june / 31 december 28,812 28,778 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
29 
iii notes to the condensed consolidated financial statements (continued) 
17 share capital 
ordinary shares 2006 2005 
as at 1 january 209,427 186,390 
issue of ordinary shares(1) 44,412 23,037 
as at 30 june /31 december 253,839 209,427 
number of shares 2006 2005 
as at 1 january 209,427,362,357 186,390,352,497 
issue of ordinary shares(1) 44,411,799,652 23,037,009,860 
as at 30 june/31 december 253,839,162,009 209,427,362,357 
as at 30 june 2006, the bank’s share capital is as follows: 
30 june 2006 
domestic listed a shares(2) 177,818,910,740 
overseas listed h shares(2) 76,020,251,269 
total 253,839,162,009 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
30 
iii notes to the condensed consolidated financial statements (continued) 
17 share capital (continued) 
(1) in accordance with to yinjianhui[2006] no.49 ”approval on the introduction of strategic investor – 
national council for social security fund (“ssf”) into bank of china limited ”, on 13 march 2006, the 
bank issued 8,514,415,652 domestic state-owned shares of a par value of rmb1.00 each to ssf at a 
premium. ssf paid rmb10 billion in cash including share premium of rmb1.481 billion for 
8,514,415,652 domestic state-owned shares issued by the bank. the payment from ssf was verified 
by pricewaterhousecoopers zhong tian cpas limited company in its “verification report on the 
capital contributions to bank of china limited” (pwc zt yz [2006] no. 14) issued on 13 march 2006. 
in accordance with to yinjianhui[2006] no.53 ”approval on the bank of china limited converted into a 
limited company to issue shares and listed overseas”, and to zhengjianhui[2006] no.8 ”approval on 
the bank of china limited to issue overseas listed foreign shares”, on 1 june 2006 and 9 june 
2006, the bank issued 29,403,878,000 h shares at a price of hk$2.95 per share through a global 
offering to hong kong and overseas investors (“global offering”). the payment from foreign investors 
was verified by pricewaterhousecoopers zhong tian cpas limited company in its “verification report 
on initial public offering of overseas listed foreign shares(h share) to bank of china limited” (pwc 
zt yz [2006] no. 82) issued on 29 june 2006. 
in accordance with to yinjianhui[2006] no.135 ”approval on the bank of china limited to issue shares 
and be listed domestically”, and to zhengjianhui[2006] no.20 ”approval on the ipo of bank of china 
limited”, on 29 june 2006, the bank issued 6,493,506,000 a shares with at a price of rmb3.08 per 
share, with share premium totaling rmb12.96 billion (net of share issuance costs of rmb549 million), 
through the a share initial public offering to the domestic investors. the payment from domestic 
investors was verified by pricewaterhousecoopers zhong tian cpas limited company in its 
“verification report on initial public offering of a share to bank of china limited” (pwc zt yz [2006] 
no. 83) issued on 29 june 2006. 
(2) all a shares and h shares rank pari passu with same right and benefits. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
31 
iii notes to the condensed consolidated financial statements (continued) 
18 capital reserve 
during the six month period ended 30 june 2006, the bank issued ordinary shares at share premiums 
(refer to note iii 17(1)) as follows: 
as at 30 june 2006 
group bank 
as at 1 january 2006 3,978 3,978 
premium (1) 72,567 72,219 
others (2) - (309) 
as at 30 june 2006 76,545 75,888 
(1) as at 30 june 2006 
group bank 
issued share 
with nssf 
issued 
h 
share 
issue 
d a 
share total 
total amount of issue ordinary shares 10,000 
89,96
7 
20,00
0 
119,96
7 119,967 
less: issue of ordinary shares (8,514) 
(29,40 
4) (6,494) 
(44,412
) (44,412) 
share premium before issuance costs 1,486 
60,56
3 
13,50
6 75,555 75,555 
less: issuance costs (i) (5) (2,435) (548) (2,988) (3,336) 
net share premium 1,481 
58,12
8 
12,95
8 72,567 72,219 
2005 
group & 
bank 
total amount of issue ordinary shares 27,057 
less: issue of ordinary shares (23,037) 
share premium before issuance costs 4,020 
less: issuance costs (56) 
net share premium 3,964 
(i) the issuance costs mainly include underwriting fees and services fees paid to professional advisors and 
financial institutions. boci asia limited, the subsidiary of the group was appointed as one of the 
underwriters in the bank’s global offerings and was paid underwriting commission at a rate which was 
consistent with that of third parties. this underwriting commission was eliminated on consolidation. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
32 
iii notes to the condensed consolidated financial statements (continued) 
18 capital reserve (continued) 
(2) bank of china group insurance company limited, a wholly owned subsidiary of the group disposed 
of 51% of its equity interest in boc group life assurance company limted to bochk (holding) 
limited, a 65.87% owned listed subsidiary of the group for a consideration of hk$900 million in cash. 
boc hk (holding) limited had adopted merger accounting for this acquisition in its consolidated 
financial statements and had therefore accounted for the amount paid in excess over the carrying 
amount of the net assets acquired in the capital reserve. such premium was eliminated on 
consolidation. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
33 
iii notes to the condensed consolidated financial statements (continued) 
19 surplus reserves, general reserve and regulatory reserve, undistributed profits and reserve 
for fair value changes of available-for-sale securities 
(1) surplus reserves 
under relevant prc laws, the bank is required to transfer 10% of its net profit, as determined under 
prc gaap, to a non-distributable statutory surplus reserve. appropriation to the statutory surplus 
reserve may be ceased when the balance of such reserves has reached 50% of the share capital. 
subject to the approval of the shareholders, statutory surplus reserve can be used for replenishing the 
accumulated loss or increasing the bank’s share capital. the statutory surplus reserve amount used to 
increase the share capital is limited to a level where the balance of statutory surplus reserve after such 
capitalisation.. is not less than 25% of the share capital. 
in addition, some overseas branches and subsidiaries are required to transfer certain percentage of its 
net profit to the statutory surplus reserve as stipulated by local banking authorities. 
the board of director on 29 august 2006 approved the bank to appropriate rmb 1,964 million, or 10% 
of its net profit of the six month period ended 30 june 2006. 
(2) general reserve and regulatory reserve 
pursuant to cai jin [2005] no. 49 “measures on general provison for bad and doubtful debts for 
financial institutions" issued by mof on 17 may 2005, banks and certain other financial institutions 
in the prc, including the bank, are required to maintain an adequate allowance for impairment 
losses against their risk assets as defined. in addition to the specific allowance for impairment 
losses, financial institutions are required to establish and maintain a general reserve within 
shareholders’ equity, through the appropriation of income to address unidentified potential 
impairment losses. according to cai jin [2005] no.49, the general reserve should not be less than 
1% of the aggregate amount of risk assets as defined by this policy. the bank intends to achieve the 
required reserve level within 3 years. 
the regulatory reserve mainly refers to the reserve amount set aside by bank of china (hong kong) 
limited, subsidiary of the group, for general banking risks, including future losses or other 
unforeseeable risks. 
the board of director on 29 august 2006 approved the bank to appropriate rmb 4,291 million to the 
general reserve. as at 30 june 2006, the amount set aside in the general reserve accounted for 0.25 
% of the bank’s risk assets. 
(3) undistributed profits 
pursuant to the 2005 profit distributionplan approved by the shareholder at a post-adjournment 
session of the annual general meeting of the year 2006, the bank distributed a cash dividend of 
rmb1,375 million to its shareholders. 
the board of directors does not propose to declare any dividend for the first half of 2006. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
34 
iii notes to the condensed consolidated financial statements (continued) 
19 surplus reserves, general reserve and regulatory reserve, undistributed profits and reserve 
for fair value changes of available-for-sale securities (continued) 
(4) reserve for fair value changes of available-for-sale securities 
pursuant to caikuaihan [2004] no. 61 “response to issues concerning accounting treatment of 
debt securities” issued by the mof, available-for-sale securities are re-measured at fair value at the 
balance sheet date. unrealised gains and losses arising from changes in the fair value of availablefor-
sale securities are recognised in equity. when available-for-sale securities are disposed of or 
impaired, the related accumulated fair value adjustments are transferred to the income statement. 
as at 30 june 2006, the unrealised losses on available-for-sale securities fair value changes are 
arising from the increase in interest rates of rmb and usd. management has assessed the 
unrealized losses position of these securities and is of the view that the unrealised losses were 
caused by the increase in interest rates and were not due to deteriations of credit rating of the 
issuers. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
35 
iii notes to the condensed consolidated financial statements (continued) 
20 net interest income 
for the six month period ended 
30 june 2006 30 june 2005 
interest income 
loans and advances to customers 60,360 51,971 
debt securities 30,652 19,908 
due from and placements with banks 
and other financial institutions 6,315 3,518 
due from central banks 2,450 2,069 
sub-total 99,777 77,466 
interest expense 
deposits from customers (38,887) (23,815) 
due to and placements from banks and other 
financial institutions, and due to central 
banks (4,122) (2,827) 
special purpose borrowings and bonds 
issued (2,292) (2,166) 
sub-total (45,301) (28,808) 
net interest income 54,476 48,658 
21 net fee and commission income 
for the six month period ended 
30 june 2006 30 june 2005 
settlement and clearing fees 1,794 1,287 
agency commissions 2,201 1,235 
credit commitment fees and commissions 1,438 1,308 
bank card fees 1,365 1,049 
custodian and other fiduciary service fees 248 235 
others 1,120 801 
fee and commission income 8,166 5,915 
fee and commission expense (1,325) (1,397) 
net fee and commission income 6,841 4,518 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
36 
iii notes to the condensed consolidated financial statements (continued) 
22 net trading (expense)/income 
for the six month period ended 
30 june 2006 30 june2005 
net gains from foreign exchange and 
foreign exchange products (1) 1,302 3,322 
net losses from interest rate instruments(2) (1,495) (329) 
total (193) 2,993 
(1) refer to note vii assets and liabilities by currency. 
(2) this included unrealised losses relating to the group’s trading debt securities of rmb 1.755 billion. 
23 investment income 
for the six month period ended 
30 june 2006 30 june 2005 
equity investment 
net gains from investment in associates 339 48 
others (1) 1,248 77 
sub-total 1,587 125 
debt investment 94 24 
total 1,681 149 
(1) other equity investment income included gains on disposal of trading portfolio equity investments 
held by subsidiaries of the group in hong kong. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
37 
iii notes to the condensed consolidated financial statements (continued) 
24 other operating income, net 
for the six month period ended 
30 june 2006 30 june 2005 
other operating income 
insurance premium 4,286 2,624 
others(1) 1,080 143 
sub-total 5,366 2,767 
other operating expense 
insurance claim expense (3,423) (2,168) 
others (146) (238) 
sub-total (3,569) (2,406) 
other operating income, net 1,797 361 
(1) other operating income included gains on disposal of loans to third party held by subsidiaries of the 
group in hong kong amounting to rmb 660 million in march 2006. 
25 operating and administrative expenses 
for the six month period ended 
30 june 2006 30 june 2005 
staff costs 13,278 11,654 
general operating and administrative expenses 7,174 6,208 
depreciation 2,741 3,138 
total 23,193 21,000 
staff costs are analysed as follows: 
for the six month period ended 
30 june 2006 30 june 2005 
salaries and welfare expenses 10,141 9,345 
defined contribution plans 1,495 659 
housing fund contributions 626 427 
other social insurance costs 415 362 
defined benefit plans 139 238 
others 462 623 
total 13,278 11,654 
in the second half of 2005, the group set up a defined contribution plan (“annuity plan”). included in 
the defined contribution plans is rmb 478 million contributed by the bank to the annuity plan during 
the six month period ended 30 june 2006. 
contributions to defined contribution plans for the period ended 30 june 2006 include the effect of 
deductions of forfeited contributions of approximately rmb 12 million (2005: rmb 14 million). the 
amounts of unutilized forfeited contributions available for further deduction are not material as at 30 
june 2006 and 30 june 2005 respectively. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
38 
iii notes to the condensed consolidated financial statements (continued) 
26 business tax and surcharges 
for the six month period ended 
30 june 2006 30 june 2005 
business tax 2,687 2,406 
city maintenance and construction tax 176 158 
education surcharges 96 83 
others 28 23 
total 2,987 2,670 
27 impairment losses 
for the six month period ended 
30 june 2006 30 june 2005 
provision for loan losses 5,062 4,718 
(write-back of )/provision for impairment of 
foreclosed assets (131) 96 
(write-back of )/provision for impairment of 
other receivables (55) 206 
write-back of impairment of fixed assets 
and others - (444) 
total 4,876 4,576 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
39 
iii notes to the condensed consolidated financial statements (continued) 
28 income tax 
for the six month period ended 
30 june 2006 30 june 2005 
current tax 12,136 10,998 
deferred tax (note iii.13) 226 (138) 
total 12,362 10,860 
the income tax expense on the group’s profit before tax differs from the amount that would arise 
using the basic tax rate of the group, detailed as follows: 
for the six month period ended 
30 june 2006 30 june 2005 
profit before tax 34,013 29,578 
tax calculated at a tax rate of 33% 11,224 9,761 
effect of different tax rates in overseas operations (1,927) (1,479) 
supplementary tax on overseas income 
paid in the prc 1,688 865 
prior years tax expenses adjustment (1) (350) (2) 
income not subject to tax (1,223) (614) 
expenses not deductible for tax purposes (2) 2,921 2,452 
others 29 (123) 
total 12,362 10,860 
(1) p rior years tax expenses adjustment included the r elate d tax impact of rmb 2 84 million in relation to 
the deductible transfer loss of boc with the amount of rmb 860 million approved by mof and sat 
in the first half of 2006. the loss arose from the disposal of certain equity investments in prior years. 
(2) non-deductible expenses primarily include staff salary costs in excess of those permitted to be 
deducted under the relevant prc tax regulations. the group is currently in the process of applying 
for a revision to the statutory salary deductible threshold for its domestic employees from the prc 
state administration of taxation(“sat”). in accordance with guoshuihan[2006] no.484, “response 
letter on the bank of china limited salary deduction matter” issued by sat on 19 may 2006, it was 
agreed in principle that, after the overseas listing of the bank, the salary costs that are deductible for 
income tax purposes will be based on the performance of the bank. the details related to the 
implementation of such deductibility threshold have however not yet been determined and are 
subject to further approval of relevant prc government authorities and as a result, the effect of this 
has not been reflected in tax expense. the group will continue to follow up with the relevant prc 
government authorities regarding the detailed implementation plans of this approval in accordance 
with the relevant regulations and guidance. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
40 
iii notes to the condensed consolidated financial statements (continued) 
29 earnings per share (basic & diluted) 
b asic and diluted earnings per share have been computed by dividing the profit for the period by the 
weighted average number of ordinary shares issued. 
the bank has no dilutive potential ordinary shares. 
for the six month period ended 
30 june 2006 30 june 2005 
profit attributable to shareholders of the bank 19,024 16,434 
weighted average number of ordinary shares in 
issue (millions) 218,002 186,390 
basic and diluted earnings per share (renminbi per 
share) 0.09 0.09 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
41 
iii notes to the condensed consolidated financial statements (continued) 
30 notes to the cash flow statement 
cash and cash equivalents comprise the following balances, the original maturities of which are less 
than three months: 
as at 30 june 
2006 
as at 30 june 
2005 
cash 29,811 29,486 
balances with central banks 113,039 130,427 
due from and placement with banks and 
other financial institutions 215,713 230,894 
short term bills and notes 30,910 24,149 
total 389,473 414,956 
(1) reconciliation of net profit to cash flows from operating activities 
for the six month period ended 
30 june 2006 30 june 2005 
net profit 19,024 16,434 
plus/(minus): 
minority interest 2,627 2,284 
asset impairment losses 4,876 4,576 
depreciation of fixed assets 2,741 3,138 
amortisation of intangible assets and long-term 
deferred expenses 341 222 
net gain on disposal of fixed assets and other 
assets (168) (671) 
equity investments income (1,587) (125) 
interest expenses arising from bonds issued 1,384 1,178 
increase in operating receivables (495,834) (288,793) 
increase in operating payables 348,605 283,372 
net cash inflows from operating activities (117,991) 21,615 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
42 
iv notes to the bank’s financial statements 
1 debt securities 
as at 
30 june 2006 
as at 
31 december 2005 
debt securities available-for-sale 
(at fair value) 
government bonds 296,280 219,566 
public sector and quasi government 
bonds 242,068 102,200 
financial institution bonds 193,816 146,373 
corporate bonds 86,487 70,798 
sub-total 818,651 538,937 
debt securities available-for-sale 
(at fair value) 
government bonds 221,541 227,718 
public sector and quasi government 
bonds 91,308 103,074 
financial institution bonds 72,118 74,791 
corporate bonds 8,101 9,560 
sub-total 393,068 415,143 
debt securities classified as loans and receivables 
(at amortised cost) 
china orient bond 160,000 160,000 
pboc special bills 91,612 91,530 
special purpose treasury bond 42,500 42,500 
short term bills and notes 
- public sector and quasi government 15,260 5,992 
- financial institution 37,070 32,156 
- corporate 1,825 - 
certificate treasury bonds and 
others 10,647 11,888 
358,914 344,066 
provision for impairment (152) (156) 
sub-total 358,762 343,910 
total 1,570,481 1,297,990 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
43 
iv notes to the bank’s financial statements (continued) 
2 loans and advances to customers 
as at 
30 june 2006 
as at 
31 december 2005 
unsecured loans 511,086 401,756 
guaranteed loans 647,205 617,332 
collateralised and other secured loans 883,910 849,017 
total 2,042,201 1,868,105 
3 equity investments 
as at 
30 june 2006 
as at 
31 december 2005 
investment in subsidiaries 68,732 66,294 
investment in associates 33 63 
others 847 796 
69,612 67,153 
less: impairment provision (173) (202) 
69,439 66,951 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
44 
iv notes to the bank’s financial statements (continued) 
4 deposits from customers 
as at 
30 june 2006 
as at 
31 december 2005 
short-term corporate deposits 
corporate demand deposits 848,940 747,059 
corporate time deposits less than one year 429,253 380,105 
sub-total 1,278,193 1,127,164 
short-term saving deposits 
demand deposits 539,321 492,876 
time deposits less than one year 1,013,449 937,430 
sub-total 1,552,770 1,430,306 
long-term corporate deposits 31,095 24,395 
long-term saving deposits 332,287 305,239 
securities and margin deposits 162,628 122,083 
total 3,356,973 3,009,187 
the securities and margin deposits are analysed as follows: 
security deposits for bank acceptance 92,068 63,522 
security deposits for letters of credit and 
letters of guarantee issued 28,988 26,469 
margin deposits for foreign exchange transactions 5,767 3,718 
others 35,805 28,374 
total 162,628 122,083 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
45 
iv notes to the bank’s financial statements (continued) 
5 net interest income 
for the six month period ended 
30 june 2006 30 june 2005 
interest income 
loans and advances to customers 50,141 45,875 
debt securities 23,738 15,804 
due from and placements with banks and other 
financial institutions 3,457 2,327 
due from central banks 2,189 2,032 
sub-total 79,525 66,038 
interest expense 
deposits from customers (26,815) (19,427) 
due to and placements from banks and other financial 
institutions, due to central banks (4,090) (2,811) 
special purpose borrowings and bonds issued (2,292) (2,163) 
sub-total (33,197) (24,401) 
net interest income 46,328 41,637 
6 net fee and commission income 
for the six month period ended 
30 june 2006 30 june 2005 
settlement and clearing fees 1,374 964 
agency commissions 877 385 
credit commitment fees and commissions 1,148 996 
bank card fees 962 636 
custodian and other fiduciary service fees 113 110 
others 748 611 
fee and commission income 5,222 3,702 
fee and commission expenses (460) (673) 
net fee and commission income 4,762 3,029 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
46 
iv notes to the bank’s financial statements (continued) 
7 net trading (expense)/income 
for the six month period ended 
30 june 2006 30 june 2005 
net gains from foreign exchange and foreign exchange 
products 343 2,655 
net losses from interest rate instruments (625) (405) 
total (282) 2,250 
8 investment income 
for the six month period ended 
30 june 2006 30 june 2005 
equity investment 
share of result of subsidiaries 7,521 4,747 
net gains from investments in associates 5 3 
others 21 85 
sub-total 7,547 4,835 
debt investment 105 5 
total 7,652 4,840 
9 operating and administrative expenses 
for the six month period ended 
30 june 2006 30 june 2005 
staff costs 11,087 9,602 
general operating and administrative expenses 6,308 5,394 
depreciation 2,320 2,748 
total 19,715 17,744 
staff costs are analysed as follows: 
for the six month period ended 
30 june 2006 30 june 2005 
salaries and welfare expenses 8,159 7,546 
defined contribution plans 1,334 638 
housing fund contributions 611 427 
other social insurance costs 411 339 
defined benefit plans 139 238 
others 433 414 
total 11,087 9,602 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
47 
iv notes to the bank’s financial statements (continued) 
10 impairment losses 
for the six month period ended 
30 june 2006 30 june 2005 
provision for loan losses 5,849 6,092 
(write-back of)/provision for impairment of foreclosed 
assets (129) 96 
(write-back of)/provision for impairment of other 
receivables (32) 211 
write-back of impairment of fixed assets and others (8) (283) 
total 5,680 6,116 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
48 
iv notes to the bank’s financial statements (continued) 
11 notes to the cash flow statement 
cash and cash equivalents comprises the following balances, the original maturities of which are 
less than three months: 
as at 30 june 2006 as at 30 june 2005 
cash 26,684 26,242 
balances with central banks 89,018 103,122 
due from and placement with banks and other 
financial institutions 160,662 150,374 
short term bills and notes 27,686 21,492 
total 304,050 301,230 
(1) reconciliation of net profit to cash flows from operating activities 
for the six month period ended 
30 june 2006 30 june 2005 
net profit 19,643 16,434 
plus/(minus): 
asset impairment losses 5,680 6,116 
depreciation of fixed assets 2,320 2,748 
amortisation of intangible assets and long term 
deferred expenses 340 
221 
net gain on disposal of fixed assets and other 
assets 115 
(146) 
equity investments income (7,547) (4,835) 
interest expenses arising from bonds issued 1,384 1,178 
increase in operating receivables (433,206) (277,343) 
increase in operating payables 324,064 250,067 
net cash outflows from operating activities (87,207) (5,560) 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
49 
v related party transactions 
related parties are those parties that have the ability, directly or indirectly, to control the other party 
or exercise significant influence over the other party in making financial and operating decisions. 
parties are also considered to be related if they are subject to common control. the group is 
controlled by the state council of the people’s republic of china (“prc”) through huijin. 
(1) transactions with huijin 
(i) foreign currency option agreement 
on 5 january 2005, the bank entered into a foreign currency option agreement with huijin whereby 
the bank has acquired the option to sell to huijin usd 18 billion, of no more than usd1,500 million 
at the beginning of each calendar month during the year ending 31 december 2007 at the exchange 
rate of usd1 to rmb 8.2769. the related option premium amounted to rmb 4,469 million, which is 
payable by the bank to huijin in 12 equal monthly instalments at the beginning of each calendar 
month during the year ending 31 december 2007. 
(ii) deposit 
2006 2005 
at 1 january 38,869 - 
deposits received during the period/year 156,679 42,972 
deposits repaid and other changes during the 
period/year (173,709 ) (4,103) 
at 30 june / 31 december 21,839 38,869 
the deposits from huijin are under commercial terms and at market rates. 
(2) transactions with other companies controlled by huijin 
huijin also has controlling equity interests in certain other financial institutions in the prc. the 
group enters into banking transactions with these entities in the normal course of its business under 
commercial terms and at market rates. these include trading assets, investment securities and 
money market transactions. the group has no material balance with these entities as of 30 june, 
2006. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
50 
v related party transactions (continued) 
(3) transactions with shareholders holding 5% or more ordinary shares 
as at 30 june 2006, in addition to huijin, the shareholder holding 5% or more ordinary shares of the 
bank is rbs china inverstments s.à.r.l. the bank had no significant transactions with this 
shareholder between 1 january 2006 and 30 june 2006 and had no material balances with this 
shareholder as of 30 june 2006. 
(4) transactions with associates 
in the ordinary course of business, the group enters into business transactions with its 
associates(note iii.7), including lending, deposit taking, debt securities purchasing and other normal 
banking businesses. the transactions with these associates are conducted on the same pricing 
principles as for the transactions with any independent third party. the loans and deposits balances 
with associates and outstanding debt securities issued by associates at the period end are stated 
below. the related interest income and expense are not considered significant. 
(i) loans 
2006 2005 
at 1 january 7,240 1,246 
loans granted during the period/year 18 8,128 
loan repayments during the period/year (6,095) (989) 
loans written off and other changes during the 
period/year - (1,145) 
at 30 june/31 december 1,163 7,240 
provisions for loan losses (190) (119) 
(ii) deposits 
2006 2005 
at 1 january 856 1,227 
deposits received during the period/year 3,250 3,879 
deposits repaid and other changes during the 
period/year (1,959) (4,250) 
at 30 june/31 december 2,147 856 
(iii) debt securities issued by associates 
2006 2005 
at 1 january 188 - 
purchases during the period/year - 1,307 
redemption sales during the period/year (188) (1,123) 
fair value changes and others - 4 
at 30 june/31 december - 188 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
51 
vi segment reporting 
the group's businesses operate in three principal geographical areas: the chinese mainland, hong 
kong and macau, and other overseas locations. significant other overseas locations include new 
york, london, singapore and tokyo. 
the geographical analysis of revenues, segment results, segment assets, segment liabilities and 
capital expenditure reflects the process through which the group's operating activities are managed. 
in accordance with the group's organisational structure and its internal financial reporting process, 
the group has determined that geographical segments should be presented as its primary segment. 
profit and loss accounts, assets and liabilities, capital expenditure, depreciation and amortization and 
credit commitments have generally been based on the country in which the branch or subsidiary is 
located. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
52 
vi segment reporting (continued) 
for the six month period ended 30 june 2006 
hong kong & macau 
chinese 
mainland 
boc hong kong 
group others sub-total 
other overseas 
operations elimination total 
interest income 76,446 19,997 2,276 22,273 3,426 (2,368) 99,777 
interest expense (31,368) (12,235) (1,489) (13,724) (2,581) 2,372 (45,301) 
net interest income 45,078 7,762 787 8,549 845 4 54,476 
net fee and commission income 4,225 1,724 989 2,713 388 (485) 6,841 
net trading (expense)/income (107) 677 (536) 141 (227) - (193) 
investment (losses)/ gains 124 7 1,634 1,641 (6) (78) 1,681 
other operating income, net 129 423 1,271 1,694 (3) (23) 1,797 
49,449 10,593 4,145 14,738 997 (582) 64,602 
operating and administrative expenses (18,920) (2,973) (645) (3,618) (687) 32 (23,193) 
business tax and surcharges (2,945) (19) (10) (29) (13) - (2,987) 
operating profit 27,584 7,601 3,490 11,091 297 (550) 38,422 
n on-operating income, net 172 201 57 258 37 - 467 
profit before impairment losses 27,756 7,802 3,547 11,349 334 (550) 38,889 
impairment (losses)/ write-back (5,932) 717 218 935 121 - (4,876) 
profit before tax 21,824 8,519 3,765 12,284 455 (550) 34,013 
income tax (10,751) (1,430) (242) (1,672) (142) 203 (12,362) 
profit after tax 11,073 7,089 3,523 10,612 313 (347) 21,651 
minority interest (4) (2,519) (104) (2,623) - - (2,627) 
net profit 11,069 4,570 3,419 7,989 313 (347) 19,024 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
53 
vi segment reporting (continued) 
hong kong & macau 
as at 30 june 2006 
chinese 
mainland 
boc hong kong 
group others sub-total 
other overseas 
operations elimination total 
segment assets 4,268,205 875,352 118,363 993,715 199,169 (234,156) 5,226,933 
segment liabilities (3,917,105) (797,504) (99,538) (897,042) (191,882) 165,549 (4,840,480) 
credit commitments 827,712 173,457 18,334 191,791 57,397 (52,704) 1,024,196 
for the six month period ended 30 june 2006 
other segment items: 
capital expenditure 1,800 296 15 311 79 - 2,190 
depreciation and amortisation 2,618 317 92 409 55 - 3,082 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
54 
vi segment reporting (continued) 
for the six month period ended 30 june 2005 
hong kong & macau 
chinese 
mainland 
boc hong kong 
group others sub-total 
other overseas 
operations elimination total 
interest income 63,883 10,976 1,431 12,407 2,429 (1,253) 77,466 
interest expense (23,449) (4,477) (550) (5,027) (1,585) 1,253 (28,808) 
net interest income 40,434 6,499 881 7,380 844 - 48,658 
net fee and commission income 2,529 1,497 99 1,596 393 - 4,518 
net trading income/(expense) 2,241 520 247 767 (15) - 2,993 
investment (losses)/ gains 20 33 27 60 69 - 149 
other operating income, net 70 - 289 289 2 - 361 
45,294 8,549 1,543 10,092 1,293 - 56,679 
operating and administrative expenses (17,046) (2,778) (580) (3,358) (596) - (21,000) 
business tax and surcharges (2,636) (15) (9) (24) (10) - (2,670) 
- - - - - - operating profit 25,612 5,756 954 6,710 687 - 33,009- 
non-operating income, net 723- 251- 116- 367- 55- -- 1,145- 
profit before impairment losses 26,335- 6,007- 1,070- 7,077- 742- -- 34,154- 
impairment (losses)/ write-back (6,591-) 1,383- 422- 1,805- 210- -- (4,576-) 
profit before tax 19,744- 7,390- 1,492- 8,882- 952- -- 29,578- 
income tax (9,472-) (1,223)- (5-) (1,228-) (160- ) -- (10,860-) 
profit after tax 10,272- 6,167- 1,487- 7,654- 792- -- 18,718- 
minority interest 9- (2,174)- (119-) (2,293-) -- -- (2,284-) 
net profit 10,281- 3,993- 1,368- 5,361- 792- -- 16,434- 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
55 
vi segment reporting (continued) 
hong kong & macau 
as at 31 december 2005 
chinese 
mainland 
boc hong kong 
group others sub-total 
other overseas 
operations elimination total 
segment assets 3,803,989 845,959 120,266 966,225 186,982 (214,390) 4,742,806 
segment liabilities (3,584,086) (768,215) (102,831) (871,046) (178,853) 153,799 (4,480,186) 
credit commitments 699,066 168,203 14,131 182,334 52,434 (38,072) 895,762 
for the six month period ended 30 june 2005 
other segment items: 
capital expenditure 1,485 176 34 210 71 - 1,766 
depreciation and amortisation 2,947 305 53 358 55 - 3,360 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
56 
vi segment reporting (continued) 
business segments are presented as the group's secondary segment. the group provides services 
through four main business segments: commercial banking, investment banking, insurance and other 
operations. segment revenue, results, assets, liabilities and capital expenditure presented in 
business segments include items directly attributable to a segment as well as those that can be 
allocated on a reasonable basis. 
corporate banking - providing services to corporate customers including current accounts, deposits, 
overdrafts, lending, trade related products and other credit facilities, foreign currency and derivative 
products. 
personal banking - providing services to retail customers including current accounts, savings, 
deposits, investment savings products, custody, credit and debit cards, consumer loans and 
mortgages. 
treasury operations - consisting of foreign exchange transactions, customer-based interest rate and 
foreign exchange derivative transactions, money market transactions, proprietary trading and assetliability 
management. the results of this segment include the inter-segment funding income and 
expenses and foreign currency translation gains and losses resulting from variations in the growth of 
interest bearing assets and liabilities and foreign currency translation gains and losses. 
investment banking - consisting of debt and equity underwriting, asset management services, 
brokerage services and loan syndications. 
insurance-underwriting of general and life insurance business and insurance agency services. 
other operations of the group comprize investment holding and other miscellaneous activities, none 
of which constitutes a separately reportable segment or can be allocated on a reasonable basis. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
57 
vi segment reporting (continued) 
for the six month period ended 30 june 2006 and as at 30 june 2006 
corporate 
banking 
personal 
banking 
treasury 
operations 
investment 
banking 
insurance 
others 
elimination 
total 
interest income 45,329 42,491 38,551 289 269 191 (27,343) 99,777 
interest expense (18,727) (25,610) (27,175) (270) (19) (847) 27,347 (45,301) 
net interest income 26,602 16,881 11,376 19 250 (656) 4 54,476 
net fee and commission income 3,141 3,165 357 938 (277) 9 (492) 6,841 
net trading income/(expense) 1,814 977 (1,910) (640) (428) (7) 1 (193) 
investment (losses)/income - - 85 1,026 217 431 (78) 1,681 
other operating income, net 74 5 (3) - 686 1,103 (68) 1,797 
31,631 21,028 9,905 1,343 448 880 (633) 64,602 
operating and administrative expenses (8,588) (11,677) (2,876) (224) (103) (406) 681 (23,193) 
business tax and surcharges (1,478) (459) (1,023) (2) (3) (22) - (2,987) 
operating profit 21,565 8,892 6,006 1,117 342 452 48 38,422 
non-operating income, net 56 127 45 (2) 40 799 (598) 467 
profit before impairment losses 21,621 9,019 6,051 1,115 382 1,251 (550) 38,889 
impairment (losses)/ write-back (4,202) (720) 1 (5) 6 44 - (4,876) 
profit before tax 17,419 8,299 6,052 1,110 388 1,295 (550) 34,013 
income tax (12,362) 
profit after tax 21,651 
minority interests (2,627) 
net profit 19,024 
segment assets 1,813,042 637,280 2,692,140 18,079 17,153 84,279 (35,040) 5,226,933 
capital expenditure 416 782 31 6 2 953 - 2,190 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
58 
vi segment reporting (continued) 
1 seg ment information (continued) 
for the six month period ended 30 june 2005 and as at 31 december 2005 
corporate 
banking 
personal 
banking 
treasury 
operations 
investment 
banking 
insurance 
others 
elimination 
total 
interest income 39,592 31,510 24,679 243 183 128 (18,869) 77,466 
interest expense (13,848) (15,489) (17,623) (180) - (537) 18,869 (28,808) 
net interest income 25,744 16,021 7,056 63 183 (409) - 48,658 
net fee and commission income 2,522 1,802 215 171 (254) 62 - 4,518 
net trading income/(expense) 1,584 755 507 203 (48) (8) - 2,993 
investment (losses)/income - 1 24 (39) 17 146 - 149 
other operating income, net 29 - - - 331 43 (42) 361 
29,879 18,579 7,802 398 229 (166) (42) 56,679 
operating and administrative expenses (7,876) (10,148) (2,680) (195) (88) (301) 288 (21,000) 
business tax and surcharges (1,455) (436) (760) (2) (1) (16) - (2,670) 
operating profit 20,548 7,995 4,362 201 140 (483) 246 33,009 
non-operating income, net 107 215 71 1 (4) 1,001 (246) 1,145 
profit before impairment losses 20,655 8,210 4,433 202 136 518 - 34,154 
impairment (losses)/ write-back (5,471) 819 19 1 (2) 58 - (4,576) 
profit before tax 15,184 9,029 4,452 203 134 576 - 29,578 
income tax (10,860) 
profit after tax 18,718 
minority interests (2,284) 
net profit 16,434 
segment assets 1,658,718 603,891 2,399,377 15,159 12,398 77,644 (24,381) 4,742,806 
capital expenditure 342 665 32 4 25 698 - 1,766 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
59 
vi segment reporting (continued) 
1 seg ment information (continued) 
with effect from 1 january 2006, the internal funding transfer pricing mechanism of the bank was revised. the new pricing mechanism is based on the external 
market deposit and lending rates, adjusted for pre-determined margins with reference to the different products and respective maturities. previously, blended 
mid prices between the bank’s average cost of funding and average yield on interest bearing assets were adopted, without taking into consideration the variety 
of products and respective maturities. the reason for the change is primarily to better reflect the performance of the individual segments as part of the bank’s 
efforts to enhance its assets and liabilities management capability. 
the effect of the change in basis of pricing between business segments for the period ended 30 june 2005 is summarized below: 
for the six month period ended 30 june 2005 
corporate 
banking 
personal 
banking 
treasury 
operations 
investment 
banking 
insurance 
others elimination total 
net interest expense as reported previously 25,253 17,818 5,750 63 183 (409) - 48,658 
effect of change-increase/(decrease) 491 (1,797) 1,306 - - - - - 
net interest expense as revised 25,744 16,021 7,056 63 183 (409) - 48,658 
operating profits as reported previously 20,057 9,792 3,056 201 140 (483) 246 33,009 
effect of change-increase/(decrease) 491 (1,797) 1,306 - - - - - 
operating profits as revised 20,548 7,995 4,362 201 140 (483) 246 33,009 
porfit before impairment losses as reported 
previously 20,164 
10,007 
3,127 
202 
136 
518 
- 
34,154 
effect of change-increase/(decrease) 491 (1,797) 1,306 - - - - - 
porfit before impairment losses as revised 20,655 8,210 4,433 202 136 518 - 34,154 
profit before income tax as reported previouly 14,693 10,826 3,146 203 134 576 - 29,578 
effect of change-increase/(decrease) 491 (1,797) 1,306 - - - - - 
profit before income tax as revised 15,184 9,029 4,452 203 134 576 - 29,578 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
60 
[ 
vii assets and liabilities by currency 
the group’s net foreign currency positions as at 30 june 2006 and 31 december 2005 are analysed 
below: 
foreign currency position 
as at30 june 2006 as at 31 december 2005 
in rmb 
billion 
equivalent 
in usd 
billion 
equivalent 
in rmb 
billion 
equivalent 
in usd 
billion 
equivalent 
et on-balance sheet foreign currency position of 
the group 601 75 485 60 
less: 
et off-balance sheet foreign currency position of 
the group (232) (29) (171) (21) 
et foreign currency position of the group 369 46 314 39 
less: 
oreign currency denominated net investments in 
foreign operations* (103) (13) (105) (13) 
net position 266 33 209 26 
* the foreign currency denominated net investments in foreign operations represents the net 
assets/liabilities of overseas subsidiaries, branches or associated undertakings, the functional 
currencies of which are currencies other than rmb. the results and financial position of these 
operations are translated into rmb, for reporting purposes with all exchange differences arising from 
the translation recognised under the “currency translation difference” as a separate component of 
equity. these exchange differences therefore do not impact the consolidated profit or loss of the 
group. 
the group manages its sources and uses of foreign currencies to minimize potential currency 
mismatches. however, the group's ability to manage its foreign currency position in relation to the 
rmb is limited as rmb is not a freely convertible currency. according to the current applicable 
foreign currency policies of the prc government, the conversion of foreign currency is subject to 
application and approval by the relevant prc government authorities. the bank has significant 
foreign currency positions, largely as a result of the foreign currency capital contributions from certain 
shareholders, the foreign currency surplus arising from the bank’s foreign currency operations and 
related accumulated profits and losses. 
in 2005, the bank entered into a foreign currency option agreement with huijin having a notional 
amount of usd18 billion to economically hedge a portion of its net on-balance sheet foreign currency 
position. 
during the six month period ended 30 june 2006, the bank executed certain foreign exchange 
transactions to reduce its net foreign currency position by usd3.3 billion. 
subsequent to the balance sheet date in august 2006, the bank further effected certain foreign 
exchange transactions, further reducing its net foreign currency position by usd14.2 billion. 
bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
61 
vii assets and liabilities by currency (continued) 
the following table illustrates the potential impact to the income statement for a 1 per cent fluctuation 
in the foreign currency exchange rate against rmb based on the net position of the group excluding 
the net structural position in foreign operations as set forth above: 
30 june 2006 31 december 2005 
profit / (loss) 
rmb million 
profit / (loss) 
rmb million 
1% appreciation/depreciation in foreign currency 
exchange rates against rmb 
+/- 2,660 +/- 2,090 
the above sensitivity analysis in response to potential movements in the foreign currency exchange 
rates against rmb is for illustrative purposes and only represents simple scenarios applied to the 
bank’s net outstanding foreign currency position as at the respective date. such analysis does not 
taken into account any further actions that may have been or could be taken by management after 
the balance sheet date, subject to the approval by the prc government, to mitigate the effect of 
exchange differences, nor for any consequential changes in the foreign currency positions. 
set forth below are assets, liabilities and off-balance sheet items by currency. short-term financial 
assets include cash, precious metals, due from central banks and government certificates of 
indebtedness for bank notes issued. debt securities also include trading and other debt securities at 
fair value through profit or loss. other assets primarily include interest receivable, fixed assets and 
deferred tax assets. short-term financial liabilities include due to central banks and bank notes in 
circulation. other liabilities primarily include interest payable. option products are included in net offbalance 
sheet position using notional amounts, including the foreign currency option agreement 
with huijin whereby the bank has acquired the option to sell to huijin usd 18 billion. the intent of the 
transaction was to create an effective economic hedge against a portion of the usd position arising 
from the usd capital contribution made by huijin. 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
62 
vii assets and liabilities by currency (continued) 
as at 30 june 2006 rmb usd hkd euro jpy gbp other total 
assets 
short-term financial assets 315,390 17,258 43,422 1,943 25,201 445 43,546 447,205 
derivative financial instruments assets - 14,656 5,632 443 318 233 258 21,540 
due from and placements with banks and other 
financial institutions 102,399 76,394 75,885 15,983 3,291 5,310 20,852 300,114 
debt securities 914,491 767,457 177,587 51,526 20,552 6,649 50,009 1,988,271 
loans and advances to customers 1,643,896 362,362 315,887 38,557 25,062 4,419 15,353 2,405,536 
less: provision for loan losses (72,036) (11,457) (3,456) (531) (367) (40) (241) (88,128) 
other assets 89,134 20,056 33,558 1,377 1,829 722 5,719 152,395 
total assets 2,993,274 1,246,726 648,515 109,298 75,886 17,738 135,496 5,226,933 
liabilities 
short-term financial liabilities 7 25,367 39,182 - - - 2,090 66,646 
derivative financial instruments and liabilities at 
fair value through profit or loss - 77,290 22,176 1,031 143 263 269 101,172 
due to and placements from banks and other 
financial institutions 177,634 120,657 8,354 5,346 9,708 546 36,104 358,349 
deposits from customers 2,876,575 444,430 529,336 41,220 40,386 25,453 95,624 4,053,024 
special purpose borrowings and bonds issued 60,000 26,378 - 16,045 4,440 940 1,996 109,799 
other liabilities 93,410 21,889 31,429 1,462 1,082 729 1,489 151,490 
total liabilities 3,207,626 716,011 630,477 65,104 55,759 27,931 137,572 4,840,480 
net on-balance sheet position (214,352) 530,715 18,038 44,194 20,127 (10,193) (2,076) 386,453 
net off-balance sheet position 235,530 (264,170) 80,413 (49,256) (31,475) 17,014 15,520 3,576 
credit commitments 478,011 325,303 141,771 46,965 19,286 4,101 8,759 1,024,196 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
63 
vii assets and liabilities by currency (continued) 
as at 31 december 2005 rmb usd hkd euro jpy gbp other total 
assets 
short-term financial assets 290,571 17,463 50,536 2,244 17,105 421 33,145 411,485 
derivative financial instruments assets - 11,493 4,552 149 548 57 9 16,808 
due from and placements with banks and other 
financial institutions 
72,731 133,179 96,420 13,322 616 5,691 22,578 344,537 
debt securities 834,407 562,128 147,966 50,044 23,072 7,048 44,926 1,669,591 
loans and advances to customers 1,477,859 358,289 319,212 34,942 25,418 4,228 15,098 2,235,046 
less: provision for loan losses (66,477) (11,779) (3,485) (510) (552) (36) (314) (83,153) 
other assets 90,733 15,988 34,632 1,172 1,755 727 3,485 148,492 
total assets 2,699,824 1,086,761 649,833 101,363 67,962 18,136 118,927 4,742,806 
liabilities 
short-term financial liabilities 1,084 24,162 38,595 29 - 32 1,884 65,786 
derivative financial instruments and liabilities at 
fair value through profit or loss - 70,625 19,551 418 384 117 79 91,174 
due to and placements from banks and other 
financial institutions 
209,624 76,205 13,707 4,400 11,538 514 29,245 345,233 
deposits from customers 2,531,878 440,252 529,827 46,854 37,565 26,634 90,767 3,703,777 
special purpose borrowings and bonds issued 60,000 28,549 - 16,251 4,665 1,092 1,786 112,343 
other liabilities 119,401 17,220 20,679 1,525 1,138 527 1,383 161,873 
total liabilities 2,921,987 657,013 622,359 69,477 55,290 28,916 125,144 4,480,186 
net on-balance sheet position (222,163) 429,748 27,474 31,886 12,672 (10,780) (6,217) 262,620 
net off-balance sheet position 173,666 (229,776) 73,943 (29,586) (16,344) 15,331 15,197 2,431 
credit commitments 394,938 295,280 137,425 30,874 21,185 2,049 14,011 895,762 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
64 
viii assets and liabilities by maturity 
maturity grouping analysis of assets and liabilities items is as follows. short-term financial assets include cash, precious metals, due from central banks and 
government certificates of indebtedness for bank notes issued. debt securities also include trading and other debt securities at fair value through profit or 
loss. other assets primarily include interest receivable, fixed assets and deferred tax assets. short-term financial liabilities include due to central banks and 
bank notes in circulation. other liabilities primarily include interest payable. 
as at 30 june 2006 overdue on demand up to 1 month 1-3 months 3-12 months 1– 5years over 5 years total 
assets 
short-term financial assets - 219,593 226,583 1,029 - - - 447,205 
derivative financial instruments assets - 5,635 1,761 736 3,420 5,830 4,158 21,540 
due from and placements with banks and 
other financial institutions - 7,014 201,710 65,568 25,668 154 - 300,114 
debt securities - - 60,840 172,718 364,243 826,955 563,515 1,988,271 
loans and advances to customers 82,183 31,539 126,619 275,430 836,140 557,221 496,404 2,405,536 
less: provision for loan losses (42,189) (143) (3,565) (5,508) (15,214) (13,191) (8,318) (88,128) 
other assets 306 8,485 12,282 5,635 16,665 25,223 83,799 152,395 
total assets 40,300 272,123 626,230 515,608 1,230,922 1,402,192 1,139,558 5,226,933 
liabilities 
short-term financial liabilities - 44,056 6 5,036 17,548 - - 66,646 
derivative financial instruments and liabilities 
at fair value through profit or loss - 2,015 11,363 11,439 38,180 25,798 12,377 101,172 
due to and placements from banks and other 
financial institutions - 172,365 97,796 36,213 32,679 19,296 - 358,349 
deposits from customers - 1,722,814 595,693 396,276 1,020,310 316,578 1,353 4,053,024 
special purpose borrowings and bonds issued - - 874 736 5,368 20,088 82,733 109,799 
other liabilities 438 52,312 27,872 4,254 51,209 13,740 1,665 151,490 
total liabilities 438 1,993,562 733,604 453,954 1,165,294 395,500 98,128 4,840,480 
net liquidity gap 39,862 (1,721,439) (107,374) 61,654 65,628 1,006,692 1,041,430 386,453 

bank of china limited 
notes to the condensed consolidated financial statements 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
65 
viii assets and liabilities by maturity (continued) 
as at 31 december 2005 overdue on demand up to 1 month 1-3 months 3-12 months 1–5 years over 5 years total 
assets 
short-term financial assets - 208,416 202,030 1,018 21 - - 411,485 
derivative financial instruments assets - 3,890 2,042 754 1,583 5,347 3,192 16,808 
due from and placements with banks and 
other financial institutions 
- 12,438 220,629 92,649 18,707 114 - 344,537 
debt securities - - 69,577 107,968 315,812 813,060 363,174 1,669,591 
loans and advances to customers 77,846 28,662 109,430 224,756 814,571 518,316 461,465 2,235,046 
less: provision for loan losses (37,696) (299) (1,881) (4,326) (19,121) (12,058) (7,772) (83,153) 
other assets 303 4,622 12,727 6,936 10,367 27,240 86,297 148,492 
total assets 40,453 257,729 614,554 429,755 1,141,940 1,352,019 906,356 4,742,806 
liabilities 
short-term financial liabilities - 65,237 529 20 - - - 65,786 
derivative financial instruments and liabilities 
at fair value through profit or loss - 1,805 9,124 9,300 22,995 38,091 9,859 91,174 
due to and placements from banks and other 
financial institutions 
- 137,560 79,351 47,365 48,126 32,831 - 345,233 
deposits from customers - 1,615,637 521,517 441,467 843,029 279,819 2,308 3,703,777 
special purpose borrowings and bonds issued - - 1,046 816 5,361 20,840 84,280 112,343 
other liabilities - 74,437 14,974 5,610 51,950 12,849 2,053 161,873 
total liabilities - 1,894,676 626,541 504,578 971,461 384,430 98,500 4,480,186 
net liquidity gap 40,453 (1,636,947) (11,987) (74,823) 170,479 967,589 807,856 262,620 
bank of china limited 
appendix i: net profit after deducting non-routine items 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
66 
ix contingent liabilities, commitments and other off-balance sheet items 
1 legal proceedings 
as at 30 june 2006, the group was the defendant in certain lawsuits arising from its normal business 
operations. management of the group believes that the outcome of these lawsuits will not have a 
material impact on the financial position of the group after consulting legal counsel. 
2 assets pledged 
assets pledged as collateral for repurchase, short positions and precious metals swaps agreements 
with other banks and financial institutions are set forth in the tables below. as at 30 june 2006, the 
group had repurchase agreements, short positions and precious metals swaps amounting to rmb 
78,597 million (2005: rmb 62,108 million). all such agreements mature within twelve months from 
inception. 
30 june 2006 31 december 2005 
precious metals 52 2,617 
bills (note iii. 6) 5,569 11,968 
debt securities (note iii. 5) 76,822 49,658 
total 82,443 64,243 
3 capital commitments 
the group has the following outstanding capital commitments not provided for in the accounts: 
30 june 2006 31 december 2005 
authorised and contracted for but not recorded 2,152 1,893 
authorised but not contracted for 2,257 2,687 
total 4,409 4,580 
the above capital commitments are related to commitments to purchase building and equipment. 
the group’s management is confident that future revenues and funding available will be sufficient to 
meet these capital commitments. however the group’s management have no obligation to incur the 
costs in respect of the balance of the authorised but not contracted for amounts. 

bank of china limited 
appendix i: net profit after deducting non-routine items 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
67 
ix 
contingent liabilities, commitments and other off-balance sheet items 
(continued) 
4 operating leases 
under the group’s irrevocable operating lease contracts, the minimum rental payments that should 
be paid in the future are summarised as: 
30 june 2006 31 december 2005 
within one year 1,401 1,371 
one to two years 1,159 1,085 
two to three years 851 807 
above three years 2,566 2,546 
total 5,977 5,809 
5 certificate treasury bond redemption commitments 
the bank is entrusted by the mof to issue certain certificate treasury bonds. the investors of 
certificate treasury bonds have a right to redeem the bonds at par any time prior to maturity and the 
bank is committed to redeem those bonds. the redemption price is the principal value of the 
certificate treasury bonds plus unpaid interest. as at 30 june 2006, the bank’s redemption 
commitments, representing the principal value of the bonds underwritten and sold by the bank, 
amounted to rmb 84,056 million (2005: rmb 80,965 million). the original maturities of these bonds 
vary from 1 to 5 years. as the deposits base rate established by the pboc is currently lower than the 
yields on all issues of certificate treasury bonds, management expects the amount of redemption 
before the maturity dates of those bonds through the bank will not be material. 
6 major off-balance sheet exposures 
30 june 2006 31 december 2005 
acceptances 230,434 195,234 
letters of guarantee issued 255,779 212,987 
letters of credit issued 115,686 101,195 
irrevocable credit commitments and others 422,297 386,346 
total 1,024,196 895,762 

bank of china limited 
appendix i: net profit after deducting non-routine items 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
68 
x events after the balance sheet date 
subsequent to the balance sheet date in august 2006, the bank entered into certain foreign currency 
transactions to reduce its net foreign currency position by usd14.2 billion (note vii). 

bank of china limited 
appendix i: net profit after deducting non-routine items 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
69 
in accordance with the requirements “question & answer no.1 concerning disclosure convention 
for companies offering shares to the public—non-routine profit/loss(revised 2004)”, the group’s net 
profit before and after deducting non-routine items is as follows: 
for the six month 
period ended 
30 june 2006 
unaudited 
net profit 19,024 
add / (less): non-routine items 
– net gain on disposal of long-term equity investments (141) 
– non-operating income (1) (1,111) 
– non-operating expense (2) 644 
– write-back of the impairments recognised in previous years (3) (451) 
income tax impact of non-routine items 349 
net profit after deducting the non-routine items 18,314 
(1) non-operating income refer to income which are not directly attributable to business operating 
activities, including net gains from disposal of fixed assets, gains from fixed assets stocktake, 
penalty charge income, gains from closing of dormant accounts and etc. 
(2) non-operating expense refers to expenses which are not directly attributable to business operating 
activities, including net losses on disposal of fixed assets, penalty charge expenses, donation, nonroutine 
losses and etc. 
(3) write-back of prior year provision for asset impairment mainly consists of write-back of provision for 
other receivables and advances. 

bank of china limited 
appendix ii: reconciliation between prc gaap and ifrs financial information 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
70 
the group’s consolidated balance sheet, consolidated income statement prepared under the 
international financial reporting standards(“ifrs”) and the reconciliation between prc gaap and 
ifrs financial information are set out below: 
1 consolidated income statements 
for the six month period 
ended 30 june 
2006 2005 
unaudited unaudited 
interest income 100,124 77,616 
interest expense (45,301) (28,808) 
net interest income 54,823 48,808 
fee and commission income 8,166 5,915 
fee and commission expense (1,325) (1,397) 
net fee and commission income 6,841 4,518 
net trading income 557 2,795 
net (losses)/gains on investment securities 64 20 
other operating income 7,218 5,229 
impairment losses on loans and advances (5,479) (4,966) 
other operating expenses (29,686) (27,721) 
operating profit 34,338 28,683 
share of results of associates 371 48 
profit before income tax 34,709 28,731 
income tax expense (12,458) (10,957) 
profit for the period 22,251 17,774 
attributable to: 
equity holders of the bank 19,477 15,181 
minority interest 2,774 2,593 
22,251 17,774 
earnings per share for profit attributable to the 
equity holders of the bank during the period 
(renminbi per ordinary share) 
- basic and diluted 0.09 0.08 
bank of china limited 
appendix ii: reconciliation between prc gaap and ifrs financial information 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
71 
2 consolidated balance sheet 
30 june 2006 31 december 2005 
unaudited audited 
assets 
cash and due from banks 36,785 41,082 
balances with central banks 340,651 316,941 
placements with banks and other financial 
institutions 293,140 332,099 
government certificates of indebtedness for bank 
notes issued 36,094 35,586 
precious metals 39,259 26,974 
trading assets and other financial instruments at 
fair value through profit or loss 114,167 111,782 
derivative financial instruments 21,540 16,808 
loans and advances to customers, net 2,317,625 2,152,112 
investment securities 
- available-for-sale 929,894 602,221 
- held-to-maturity 569,126 607,459 
- loans and receivables 389,368 361,851 
investment in associates 5,675 5,061 
property and equipment 62,238 62,417 
investment property 8,612 8,511 
deferred income tax assets 23,431 20,504 
other assets 44,030 38,640 
total assets 5,231,635 4,740,048 

bank of china limited 
appendix ii: reconciliation between prc gaap and ifrs financial information 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
72 
2 consolidated balance sheet (continued) 
30 june 2006 31 december 2005 
unaudited audited 
liabilities 
due to banks 171,422 134,217 
due to central banks 30,495 30,055 
bank notes in circulation 36,151 35,731 
certificates of deposits and placements from 
banks and other financial institutions 190,880 212,626 
derivative financial instruments and liabilities at 
fair value through profit or loss 101,172 91,174 
due to customers 4,048,438 3,699,464 
bonds issued 60,177 60,179 
special purpose borrowings 49,622 52,164 
current tax liabilities 20,637 23,459 
retirement benefit obligations 6,933 7,052 
deferred income tax liabilities 2,053 2,136 
other liabilities 128,573 136,272 
total liabilities 4,846,553 4,484,529 
equity 
capital and reserves attributable to equity 
holders of the bank 
share capital 253,839 209,427 
capital reserve 66,613 (5,954) 
statutory reserves 8,095 5,987 
general and regulatory reserves 9,398 5,109 
undistributed profits 21,893 10,188 
reserve for fair value changes of available-forsale 
securities (3,603) 1,899 
currency translation differences (488) (237) 
355,747 226,419 
minority interest 29,335 29,100 
total equity 385,082 255,519 
total equity and liabilities 5,231,635 4,740,048 
bank of china limited 
appendix ii: reconciliation between prc gaap and ifrs financial information 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
73 
3 reconciliation between prc gaap and ifrs financial information 
net assets 
as at 
net profit 
for the six month 
period ended 30 june 
30 
june 
2006 
31 
december 
2005 
2006 2005 
prc gaap figures 357,641 233,842 19,024 16,434 
adjustments for accounting standard 
differences: 
-reversal of revaluation surplus and 
corresponding depreciation (1) (7,794) (7,999) 205 133 
-fair value measurement on investment 
properties (2) 3,199 2,816 438 1,059 
-equity securities classified as available-forsale 
financial assets and stated at fair 
value(3) 3,566 1,775 - - 
- early retirement benefit obligation (4) (4,911) (5,097) 186 (1,749) 
-cost method applied on precious metals (5) (757) (637) (120) (83) 
-deferred tax impact (6) 4,222 992 (97) (97) 
-minority interests effect and others 581 727 (159) (516) 
sub-total (1,894) (7,423) 453 (1,253) 
ifrs figures 355,747 226,419 19,477 15,181 
(1) reversal of revaluation surplus and corresponding depreciation 
under prc gaap, the bank recorded an asset revaluation adjustment of rmb 10,432 million as of 
31 december 2003, related principally to property and equipment, in connection with the joint stock 
reform plan. the revalued property and equipment will be amortised over their remaining useful 
lives. according to ias 16 property, plant and equipment, once an entity has chosen the cost model 
as its accounting policy, it shall apply the policy to an entire class of property, and shall not be 
permitted to measure these fixed assets at fair value. hence, the asset revaluation surplus and 
corresponding depreciation recognized under prc gaap, should be reversed under ifrs. 

bank of china limited 
appendix ii: reconciliation between prc gaap and ifrs financial information 
for the six month period ended 30 june 2006 
(amount in millions of renminbi, unless otherwise stated) 
74 
3 reconciliation between prc gaap and ifrs (continued) 
(2) fair value measurement on investment properties 
under prc gaap, investment properties as fixed assets are measured at cost after deducting 
accumulated depreciation and impairment losses. according to ias 40 investment property, 
investment properties are measured at fair value at the balance sheet date by the group. 
(3) equity securities classified as available-for-sale financial assets and stated at fair value 
under prc gaap, equity securities are accounted for at cost after deducting impairment losses. 
according to ias 39 financial instruments: recognition and measurement, these securities have 
been classified as available-for-sale and are stated at fair value. 
(4) early retirement benefit obligation 
according to mof requirement, the early retirement benefit expenditures during the early retirement 
period (from early retirement date to legal retirement date) to those employees who accepted an 
early retirement arrangement is recognized on a cash basis by the group. according to ias 19 
employee benefits, the early retirement benefit at the balance sheet date should be recorded based 
on the present value of future payment obligation after adjusting for actuarial gain or loss and past 
servicing cost. 
(5) cost method applied on precious metals 
according to accounting practice of prc banking industry, all precious metals are initially 
recognized at cost and subsequently re-measured at fair value at the balance sheet date by the 
bank. according to ias 2 inventories, precious metals that are not related to the group’s precious 
metals trading activities are carried at cost. 
(6) deffered tax impact 
under ifrs, deferred income tax is provided using the balance sheet liability method, on temporary 
differences arising between the tax bases of assets and liabilities and their carrying amounts in the 
consolidated financial statements. under prc gaap, deferred income tax is provided using the 
liability method, on timing differences between the group’s taxable profits and its results as stated in 
the financial statements that arise from the inclusion of gains and losses in tax assessments in 
periods different from those in which they are recognised in the financial statements. 
the difference between prc gaap and ifrs in 2006 mainly represents the deferred income tax 
credited or charged directly to equity under ifrs relating to the fair value re-measurement of 
available-for-sale investments charged or credited directly to equity.