中国银行股份有限公司2006年年度报告
年报目录 
重要提示......................................................................................4 
公司基本情况简介........................................................................5 
财务摘要......................................................................................7 
董事长致辞 ..................................................................................9 
行长致辞....................................................................................12 
管理层讨论与分析......................................................................15 
经济、金融环境简要回顾与展望 ................................................................ 15 
综合财务回顾 ............................................................................................. 19 
业务回顾..................................................................................................... 50 
风险管理..................................................................................................... 76 
资本管理及内部资金转移定价.................................................................. 103 
机构管理、人力资源管理与开发 .............................................................. 107 
与战略投资者的合作 ................................................................................ 111 
公司荣誉与责任........................................................................................ 114 
股本变动和主要股东持股情况.................................................................. 117 
董事、监事及高级管理人员情况 .............................................................. 123 
公司治理................................................................................................... 133 
董事会报告 ............................................................................................... 147 
监事会报告 ............................................................................................... 156 
重要事项................................................................................................... 158 
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年度报告确认意见....................................................................162 
会计报表及审计报告 ................................................................163 
备查文件目录...........................................................................163 
股东参考资料...........................................................................163 
组织架构..................................................................................168 
境内外机构名录 .......................................................................169 
释义.........................................................................................186 

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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 2007 年 3 月 22 日审议通过了公司《2006 年年度报告》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 年年度按照中国公认会计准则编制的财务报告经普华永道中天会计师事务所 
有限公司审计，按照《国际财务报告准则》编制的财务报告由罗兵咸永道会计师事务所审计， 
并出具标准无保留意见的审计报告。 
中国银行股份有限公司董事会 
2007 年 3 月 22 日 
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 
年度报告中财务报告的真实、完整。 

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公司基本情况简介 
法定中文名称: 中国银行股份有限 
公司 
公 司 法 定 英 文 名 称 ： bank of 
china limited 
法定代表人 肖钢 
董事会 
名誉董事长 陈慕华 
名誉副董事长 庄世平 
董事长 肖钢 
副董事长 李礼辉 
执行董事 华庆山 
李早航 
非执行董事 
张景华 
俞二牛 
朱 彦 
张新泽 
洪志华 
黄海波 
frederick anderson goodwin爵 
士 
佘林发 
独立非执行董事 
梁定邦 
william peter cooke 
patrick de saint-aignan 
alberto togni 
监事会 
监事会主席 刘自强 
监事 王学强 
刘万明 
李春雨（职工监事） 
刘钝 （职工监事） 
高级管理层 
行长 李礼辉 
副行长 华庆山 
李早航 
周载群 
张燕玲 
朱 民 
王永利 
纪委书记 张 林 
授权代表 
李礼辉 
杨志威 
董事会秘书 
杨志威 
合资格会计师 
梁剑兰 
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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 
联系电话：010-66596688 
传 真：010-66594568 
国际互联网网址 http://www.boc.cn 
电子信箱：bocir@bank-of-china.com 
香港营业地址：香港花园道 1 号 
中银大厦 
选定的信息披露报纸及网站 
按照境内监管规定本行将于下列报纸 
中刊载中国会计准则信息披露内容： 
《中国证券报》《上海证券报》《证券 
时报》《中国日报》并同时于一份中文 
及一份英文香港报纸刊载按照国际会 
计准则编制的信息披露内容。 
刊登年度报告的中国证监会指 
定网站：http://www.sse.com.cn 
刊登年度报告的香港联合交易 
所网站：http://www.hkex.com.hk 
年度报告备置地点：主要营业场所 
香港法律顾问 富而德律师事务所 
中国法律顾问 金杜律师事务所 
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 
证券事务代表 罗楠 
联系地址：中国北京市复兴门内大街 1 号 
邮政编码： 100818 
电话： 86-10-6659 4626 
传真： 86-10-6659 4568 
电子信箱：bocir@bank-of-china.com 
审计师 
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 
a 股保荐人 
中国银河证券有限责任公司 
中信证券股份有限公司 
国泰君安证券股份有限公司 
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：京税证字 110102100001342 
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财务摘要 
（本报告按照中国企业会计准则及《金融企业会计制度(2001 版)》及要求编制） 
单位：百万元人民币 
注释 2006 年 2005 年 2004 年 2003(注 1) 
全年业绩 
净利息收入 120,707 100,405 84,985 71,904 
非利息收入 16,921 15,623 19,752 13,781 
营业收入 注 2 137,628 116,028 104,737 85,685 
业务及管理费 (53,614) (45,604) (41,915) (34,041) 
营业税金及附加 (6,462) (5,680) (4,981) (3,972) 
营业利润 77,552 64,744 57,841 47,672 
营业外收支净额 1,044 1,381 532 179 
资产减值损失 (11,587) (10,985) (23,797) (16,432) 
利润总额 67,009 55,140 34,576 31,419 
税后利润 47,152 32,597 25,246 24,743 
净利润 41,892 27,492 20,932 21,553 
股息总额 10,154 14,112 14,200 - 
扣除非经常性损益后净利润 注 3 39,822 26,174 20,310 21,542 
于年底 
资产总计 5,325,273 4,742,806 4,270,443 3,979,965 
贷款净额 2,337,513 2,151,893 2,071,693 1,921,131 
债券投资 注 4 1,879,418 1,669,591 1,309,479 1,092,187 
负债总计 4,907,459 4,480,186 4,037,705 3,750,489 
客户存款 4,095,422 3,703,777 3,342,477 3,035,956 
本行股东应享权益总额 388,254 233,842 205,351 203,752 
本行发行在外普通股 
平均(百万股) 注 5 236,055 186,425 186,390 186,390 
年底(百万股) 253,839 209,427 186,390 186,390 
每股计 
每股收益(加权平均,元) 注 6 0.18 0.15 0.11 0.12 
每股股息(含税,元) 注 7 0.04 0.08 0.08 - 
每股净资产(元) 注 8 1.53 1.12 1.10 1.09 
调整后每股净资产(元) 注 9 1.52 1.11 1.09 1.07 
主要财务比率 
总资产净回报率(%) 注 10 0.94 0.72 0.61 0.68 
股本净回报率(不含少数股东权益,%) 注 11 13.47 12.52 10.23 10.58 
股本净回报率(含少数股东权益,%) 注 12 13.86 13.16 10.92 10.78 
净利差(%) 注 13 2.28 2.21 2.05 1.95 
净息差(%) 注 14 2.44 2.32 2.15 2.03 
贷存比(%) 注 15 59.38 60.35 64.22 71.06 
非利息收入占比(%) 注 16 12.29 13.46 18.86 16.08 
成本收入比(%) 注 17 38.96 39.30 40.02 39.73 
资本充足指标 
核心资本充足率(%) 11.44 8.08 8.48 n/a 
资本充足率(%) 13.59 10.42 10.04 n/a 
资产质量 
不良贷款 98,220 103,226 109,920 351,224 
不良贷款比率(%) 注 18 4.04 4.62 5.12 16.28 
贷款减值损失准备 94,293 83,153 74,769 236,342 
拨备覆盖率(%) 注 19 96.00 80.55 68.02 67.29 
信贷成本(%) 注 20 0.50 0.50 1.11 n/a 
人力资源 
集团员工总数(人) 注 21 232,632 229,742 238,672 241,401 
信用评级 
穆迪 ａ2 ａ2 ａ2 ａ2 
标准普尔 ｂｂｂ＋ ｂｂｂ＋ ｂｂｂ－ ｂｂ＋
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惠誉 ａ ａ－ ｂｂｂ＋ ｂｂｂ＋ 
汇率 
1 美元兑人民币年末中间价 7.8087 8.0702 8.2765 8.2767 
1 欧元兑人民币年末中间价 10.2665 9.5797 11.2627 10.3383 
1 港币兑人民币年末中间价 1.0047 1.0403 1.0637 1.0657 
股价(年末收盘价) 
中国银行(601988.sh,人民币,元/股) 5.43 n/a n/a n/a 
中国银行(3988.hk,港币,元/股) 4.27 n/a n/a n/a 
中银香港(2388.hk,港币,元/股) 21.15 14.95 14.85 14.60 
2004 年 8 月 26 日，中国银行股份有限公司于北京注册成立，中国银行成为国家控股的股份制商业银行。2006 年 6 月 
1 日和 7 月 5 日，中国银行股票先后在香港联合交易所和上海证券交易所挂牌交易，于中国银行业中获得在国际和国内资本 
市场同时发行上市。 
注1、 2003 年经营成果及相关财务比率数据已经剔除出售中银香港部分股份获得净投资收益 71.54 亿元人民币的影响。 
注2、 营业收入＝报告期净利息收入＋报告期非利息收入。其中，报告期非利息收入＝报告期手续费及佣金收支净额＋报 
告期净交易(损失)/收入＋报告期投资收益/(损失)＋报告期其他业务收支净额； 
注3、 非经常性损益为按照《公开发行证券的公司信息披露规范问题第 1 号：非经常性损益(2004 年修订)》的要求确定 
和计算的； 
注4、 债券投资包括可供出售债券、持有至到期日债券、分类为贷款及应收款的债券、交易性及其他公允价值变动计入损 
益的债券； 
注5、 本行平均发行在外普通股为按日加权计算； 
注6、 每股收益(加权平均)＝报告期净利润÷报告期平均股本总数，报告期平均股本总数是根据中国证监会《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》的规定按日加权计算； 
注7、 每股股息＝报告期股息总额÷报告期期末股本总数，2005 年，本行向战略投资者发行普通股所吸收资金分别于 
2005 年 12 月 30 日和 31 日到位，在计算每股股息时，未考虑该影响； 
注8、 每股净资产＝报告期期末股东权益总额÷报告期期末股本总数 
注9、 调整后的每股净资产＝(报告期末股东权益－3 年以上的应收款项净额－待摊费用－长期待摊费用)÷报告期期末股 
本总数，根据中国证监会《公开发行证券的公司信息披露内容与格式准则第 2 号——年度报告的内容与格式(2005 
年修订)》的规定计算； 
注10、 总资产净回报率＝报告期税后利润÷报告期资产平均余额，报告期资产平均余额＝(报告期期初资产总额＋报告期 
期末资产总额)÷2； 
注11、 股本净回报率(不含少数股东权益)＝报告期净利润÷报告期股东权益平均余额，报告期股东权益平均余额＝(报告 
期期初股东权益总额＋报告期期末股东权益总额)÷2。本行在 2003 年接受政府注资并实施相关财务重组，2002 
年财务数据与 2003 年财务数据不可比，因此，2003 年股本净回报率以年末股东权益为计算基础。 
注12、 股本净回报率(含少数股东权益)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； 
注13、 净利差＝报告期生息资产平均收益率－报告期付息负债平均成本，报告期生息资产平均收益率＝报告期利息收入÷ 
报告期生息资产平均余额，报告期付息负债平均成本＝报告期利息支出÷报告期付息负债平均余额，平均余额为本 
行管理账户未经审计的日均余额； 
注14、 净息差＝报告期净利息收入÷报告期生息资产平均余额，平均余额为本行管理账户未经审计的日均余额； 
注15、 贷存比＝报告期期末贷款余额÷报告期期末客户存款余额； 
注16、 非利息收入占比＝报告期非利息收入÷报告期营业收入，2006 年，剔除外汇敞口产生的损失 98.20 亿元后，非利 
息收入占比为 18.14%；2005 年，剔除外汇敞口产生的损失 47.46 亿元后，非利息收入占比为 16.87%； 
注17、 成本收入比＝报告期业务及管理费÷报告期营业收入； 
注18、 不良贷款比率＝报告期期末不良贷款总额÷报告期期末贷款总额 
注19、 拨备覆盖率＝报告期期末贷款损失准备÷报告期期末不良贷款总额 
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注20、 信贷成本＝报告期资产减值损失÷报告期贷款平均余额，其中，报告期贷款平均余额＝(报告期期初贷款余额＋报 
告期期末贷款余额)÷2 
注21、 集团员工总数包括劳动关系用工和劳务关系用工。 
董事长致辞 
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 年所取得的良好 
业绩。本行共实现净利润 418.92 亿元人民币，比上年增长 52.38%，加权平均每股收益为 0.18 
元人民币，远高于本行在上市时所定的净利润不低于 330 亿人民币、每股盈利 0.14 元人民币 
的预测。其中，经营收入同比上升 18.62%至 1,376.28 亿元人民币。拨备前营业利润增长 
19.78%至 775.52 亿元人民币。总资产净回报率（roa）和股本净回报率（roe，含少数股 
东权益）分别达到 0.94%和 13.86%。在保证利润稳步上升的同时，本行实现不良贷款率和不 
良贷款余额持续双降。截至 2006 年底，不良贷款率由上年底的 4.62%下降至 4.04%，不良贷 
款余额较上年底下降 50.06 亿元人民币至 982.20 亿元人民币。 
本行董事会将于 2007 年 6 月 14 日召开的年度股东大会上建议派发 2006 年下半年股息 
每股 0.04 元人民币。派息总额约占该期间净利润的 44.40%，处于上市时公布的 35% - 45% 
派息政策的上限。 
2006 年是“十一五”计划实施的第一年，中国经济继续保持了平稳快速的发展势头，但 
经济发展的不平衡也有所显露；中国经济增长模式向强调质量、节约、清洁、安全和实现经 
济社会全面协调可持续发展的深刻转变已经开始；中国金融市场总体运行平稳活跃，货币市 
场流动性较为充足，银行业改革取得突破。面对各种机遇和挑战，本行不断巩固国内领先银 
行的地位，并始终遵循建设国际一流银行的发展目标，2006 年在中国银行业中首次实现了在
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国际和国内资本市场同时上市，进一步提高了资本实力。我们积极接受银行业和证券业的双 
重监管，接受两地市场的严格约束，按照国际监管标准披露信息。同时，我们与战略投资者 
的合作亦渐见成效，在信用卡、银团贷款、全球金融市场等业务领域，以及在风险管理与内 
控、司库与财务管理、人力资源管理与培训、业务架构与信息科技建设等基础领域均取得了 
实质性的合作成果。2006 年年底，本行收购了新加坡飞机租赁公司，进一步落实本行拓宽金 
融产品服务平台的战略规划。内部管理方面，本行积极推动各项业务协调发展，全面推进风 
险管理，加强内部控制体系建设；继续深化人力资源管理改革，在境内机构建立起市场化的 
薪酬体系，逐步完善了激励约束机制；着力加速 it 蓝图建设与实施，核心银行系统建设取得 
阶段性成果；全行上下开展了企业核心价值观的大讨论，营造共同的价值观念和行为规范， 
以更好地适应上市后的新变化。 
在过去一年，本行继续完善由股东大会、董事会、监事会和高级管理层组建的公司治理 
架构。期间，patrick de saint-aignan 先生和 alberto togni 先生新任本行独立非执行 
董事，frederick anderson goodwin 先生和佘林发先生新任本行非执行董事。他们的加入， 
使得本行境外董事增为六名，其中独立非执行董事四名，提升了董事会运作的国际化水平。 
展望新的一年，随着中国市场经济体制改革的逐步深化，本行面临着来自国内银行同业 
和外资银行的双重竞争压力，并同时受到金融监管和市场监管的双重约束。为此，我们将继 
续完善公司治理机制，进一步实现股东价值最大化，加速推进各项内部改革，主动调整战略， 
积极适应新的经营环境，尽快形成领先市场的创新能力和竞争能力。适当管理各种风险，保 
证各项业务健康、平衡发展，我们将适当管理外币敞口，以减少人民币升值对经营业绩造成 
的影响；着力推进业务流程整合，加快 it 蓝图实施步伐，构建强大的信息基础平台，实现以 
客户为中心、业务操作逻辑集中、主要业务条线矩阵式管理的目标。我们还将积极推进企业 
文化建设，营造诚信、绩效、责任、创新、和谐的氛围，推动中国银行全面协调发展。 
11 
最后，我依然要感谢一直关注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信任和支持。我还要感谢中国银行董事会、监事会和管理层全体 
成员，感谢中国银行所有员工，感谢你们在过去充满挑战的一年内所付出的努力和贡献。 
肖钢 
董事长 
2007 年 3 月 22 日 

12 
行长致辞 
2006 年是中国银行发展历史上具有里程碑意义的一年。我行在国际国内资本市场成功上 
市，股份制改革取得了阶段性成果，中国银行进入了一个新的发展时期。 
管理层坚持落实科学的发展观，认真贯彻实施董事会确定的发展战略，坚持以科学发展 
观统领全局，致力于银行价值最大化，积极稳健经营，全面完成董事会下达的主要经营目标 
和各项工作任务。按照中国会计准则，截止 2006 年末，我行资产总额 53,252.73 亿元人民币， 
负债总额 49,074.59 亿元人民币，股东权益合计（不含少数股东权益）3,882.54 亿元人民币， 
分别比上年末增长 12.28%、9.54%和 66.03%。全行实现税后利润 471.52 亿元，比上年增长 
44.65%；实现净利润 418.92 亿元人民币，比上年增长 52.38%，加权平均每股收益为 0.18 
元，增长 20％。总资产净回报率（roa）为 0.94%，上升 0.22 个百分点。股本净回报率（roe， 
含少数股东权益）为 13.86%，上升 0.70 个百分点。 
2006 年我行利润大幅增长，主要驱动因素是净利息收入和非利息收入快速增长，信贷成 
本得到严格控制，市场风险得到有效规避，运营管理效率进一步提高，有效税率下降。 
由于生息资产的较快增长和主动负债管理对于降低负债成本的显著作用，全行净利差和 
净息差水平继续提高，分别达到 2.28%和 2.44%，比上年扩大 7 个和 12 个基本点，净利息收 
入增长 20.22%，全行本外币存款比上年末增长 10.57%，贷款增长 8.80%，证券投资增长 
12.57%。 
剔除外汇净敞口估值损失因素的影响，全行非利息收入占营业收入的比重为 18.14%，比 
上年提高 1.27 个百分点。其中，手续费和佣金收支净额增长 54.89%。多元化经营平台进一 
步扩大，来自投资银行、保险业务的税前利润同比增长 188.31%，贡献度由上年的 1.18%提
13 
高到 2.80%。 
资产质量继续改善，信贷成本控制在 0.50%，不良贷款率为 4.04%，下降 0.58 个百分点， 
关注类贷款占比由 12.71%下降到 8.15%。拨备覆盖率 96.00%，提高 15.45 个百分点。通过 
结汇，外币资金净敞口下降 102 亿美元，有效降低了汇率风险。 
运营成本继续得到有效控制，成本收入比由 39.30%下降到 38.96%，有效税率由 40.88% 
降低到 29.63%。 
积极推进与战略投资者的业务合作，创造战略协同效应。我行与 rbs 在信用卡、银团贷 
款、供应链融资、私人银行等业务领域和风险管理、品牌宣传等方面的合作已取得实效，与 
淡马锡、ubs、adb、全国社保基金理事会等战略投资者在小企业金融、投资银行等业务领 
域以及公司治理、内部控制等方面的合作也取得积极进展。 
2007 年，金融体制改革步伐加快，中国银行业进入全面对外开放的新阶段，银行业竞争 
将更趋激烈。面对新的机遇与挑战，我们将紧紧围绕建设国际一流银行的战略目标，进一步 
转变经营机制和增长方式，着力推进流程整合和 it 蓝图实施，着力完善风险管理和内部控制， 
着力加快产品创新和服务创新，着力加强人才规划和领导班子建设、队伍建设、企业文化建 
设，强化竞争优势，促进中国银行健康、快速、持续发展。 
藉此机会，我谨代表管理层，衷心感谢董事会和监事会过去一年来对我们的指导与帮助， 
衷心感谢投资者和社会各界的信任与支持，衷心感谢海内外同事们的辛勤奉献！我深信，只 
要我们共同努力，锐意进取，追求卓越，中国银行的前景将更加美好！ 
李礼辉 
行长 
2007 年 3 月 22 日 

14 
管理层讨论与分析概览 
标题 主要内容 
经济、金融环境简要回 
顾与展望 
本部分回顾 2006 年宏观经济及金融环境 
综合财务回顾 本部分从财务角度分析本行 2006 年的经营业绩和财务状 
况。 
业务回顾 本部分描述本行 2006 年主要业务板快的战略定位、总体情 
况、经营业绩和未来的展望。并简要回顾中银香港、中银 
国际、中银保险、中银投等子公司经营情况。 
风险管理 本部分描述本行的风险管理总体架构、目标和策略。主要 
内容涵盖：信用风险、市场风险、流动性风险、操作风险。 
资本管理及内部资金转 
移定价 
本部分描述本行资本管理的目标、手段、传导机制、有效 
性及本行内部资金转移定价的运用及传导机制。 
机构管理、人力资源管 
理与开发 
本部分描述本行机构流程整合与建设，人力资源管理及人 
才培养开发、企业文化建设等情况。 
与战略投资者的合作 本行与战略投资者在各业务条线及管理领域的合作 
公司荣誉与责任 本部分描述本行参与社会公益事业情况及获奖情况。 

15 
管理层讨论与分析 
经济、金融环境简要回顾与展望 
2006 年，全球经济增长强劲。根据国际货币基金组织报告，2006 年世界经济增长 5.1%， 
为近 30 年来第二高水平。中国经济继续保持平稳较快发展，gdp 较上年增长 10.7%，创近 
11 年来最高增幅。对外贸易快速增长，全年进出口总额 17,607 亿美元，比上年增长 23.8%， 
贸易顺差再创历史新高，达 1,775 亿美元。 
2006 年国际金融市场发展良好，但潜在风险不断上升。在全球流动性充裕的背景下，石 
油、黄金等大宗商品大幅上涨和波动；美国、欧元区、日本等主要国家和地区央行纷纷加息， 
资本市场繁荣，国际银行业取得长足发展。 
2006 年，中国金融市场总体运行平稳活跃。人民币汇率弹性增强，全年人民币兑美元升 
值幅度达到 3.35%。为防止投资过热与加大流动性管理，央行两次调整存贷款利率、三次提 
高存款准备金率、四次定向发行票据。2006 年 m2 增长 16.9%，金融机构人民币贷款增长 
15.1%、人民币存款增长 16.8%；股票市场规模大幅提升，全年融资规模达 2,204 亿元，年 
末股票市值占 gdp 比重提高到 43.3%；债券市场的发行与成交规模呈现显著的快速增长势 
头，全年债券融资金额达到 56,766 亿元，年末债券市值占 gdp 比重上升到 44.8%。 
中国银行业的改革和对外开放有序推进。2006 年中国银行和工商银行分别在沪、港两地 
成功上市，连创全球 ipo 纪录。2006 年 12 月 11 日中国按照加入 wto 承诺向外资银行全面 
开放，截至年末累计已有 21 家中资银行业金融机构引进 29 家境外投资者，外资银行分支机 
构继续增加，同业竞争日趋激烈。 
16 
展望 2007 年，全球经济有望继续保持高速增长，国际货币基金组织预计增速将达到 
4.9%；但是风险同时在增长，主要原因包括全球失衡持续扩大、全球流动性过剩尚未缓解、 
美国经济增长可能放缓以及资本市场可能再创高位后大幅震荡等。 
2007 年中国经济仍将维持 8%左右的快速增长，人民币汇率稳中有升，资本市场继续深 
化发展，银行同业竞争更加激烈。同时，政府将继续实施稳健的财政政策和货币政策，加强 
和改善宏观调控，重点是控制固定资产投资和信贷规模，在优化结构中促进经济总量平衡， 
更多地运用经济杠杆、法律手段引导和规范经济行为。 
图 1：2003 年以来全球与中国 gdp 增长 
0
2
4
6
8 
10 
12 
2003 2004 2005 2006 
世界经济增长率（%） 中国经济增长率（%） 
图 2：汇改以来人民币汇率走势 
17 
7.7 
8.2 
8.7 
9.2 
9.7 
10.2 
20062005年7月 2005年10月 2006年1月 2006年4月 2006年7月 2006年9月 年12月 
人
民
币
兑
美
元
、 
欧
元 
0.063 
0.065 
0.067 
0.069 
0.071 
0.073 
0.075 
人
民
币
兑
日
元 
人民币元/1美元 人民币/1欧元 人民币/1日元 
图 3：2006 年主要国家或地区主要利率水平的变化 
1.00 
2.00 
3.00 
4.00 
5.00 
6.00 
7.00 
1月 2月 3月 4月 5月 6月 7月 8月 9月 10月 11月 12月 
美国联邦基金利率 欧元区再融资利率 
人民币1年期存款利率 港元贴现窗口基本利率 

18 
图 4：2006 年中国 m1 和 m2 的增长情况 
0
5 
10 
15 
20 
25 
1月 2月 3月 4月 5月 6月 7月 8月 9月 10月 11月 12月 
m1增长率（%） m2增长率（%） 
图 5：2003-2006 年金融机构本外币贷款增长情况 
0 
50000 
100000 
150000 
200000 
250000 
300000 
2003 2004 2005 2006 
0
5
10 
15 
20 
25 
金融机构本外币贷款余额（亿元人民币） 增长率（%） 

19 
图 6：2003-2006 年国内非金融机构部门融资情况变化 
0.00 
0.50 
1.00 
1.50 
2.00 
2.50 
3.00 
3.50 
4.00 
万亿元 
2003 2004 2005 2006 
贷款 股票 国债 企业债 
综合财务回顾 
2006年集团经营业绩和财务状况一览 
税后利润 2006年集团实现税后利润471.52亿元人民币，较上年增加145.55亿元人民币， 
增幅为44.65%；实现净利润418.92亿元人民币，较上年增加144亿元人民币，增幅为52.38%， 
超过了本行股东大会批准的预算目标及本行ipo时作出的本年度盈利预测。税后利润大幅增 
长主要是由于集团营业收入快速增长，运营效率进一步提高，信贷成本得到控制，有效税率 
下降。 
每股收益 2006年本行加权平均每股收益为0.18元，较上年增加0.03元。本行今年在香港、 
上海两地同时上市，银行股本进一步充实，报告期平均普通股股份数量较上年增加，同时， 
得益于净利润的快速增长，加权平均每股收益较上年度有所增加。 
回报率 2006年集团总资产净回报率为0.94%，较上年上升0.22%，为过去四年内最高。股 
本净回报率（不含少数股东权益）为13.47%，若包含少数股东权益，则为13.86%，分别较上 
年上升0.95个百分点及0.70个百分点。 
20 
收入增长率 2006年集团实现营业收入1,376.28亿元人民币，较上年增加216亿元人民币， 
增幅为18.62%。集团收入的增长主要源于集团贷款、债券投资平均余额的增长以及平均收益 
率的上升。同时，集团积极拓展中间业务，手续费及佣金收支净额较上年大幅增加。详见下 
文“净利息收入”与“非利息收入”的分析。 
非利息收入占比 2006年集团实现非利息收入169.21亿元人民币，同比增长12. 98亿元人 
民币，增幅8.31%。非利息收入占比为12.29%，较上年下降1.17%。若剔除外汇敞口估值损 
失因素的影响，非利息收入占比为18.14%，同比上升1.27个百分点。 
成本收入比 2006年集团成本收入比为38.96%，较上年下降0.34%，为过去四年内最低。 
主要是由于集团在有效控制运营成本的同时，实现了营业收入的快速增长。详见下文“业务 
及管理费”的分析。 
信贷成本 2006年集团信贷成本为0.50%，与上年度基本持平。主要是由于集团在信贷资产 
规模增长的同时，不断提高风险管理水平，加快不良资产处置，资产质量得到明显改善，信 
贷成本继续处于较低水平。详见下文“资产减值损失”及“风险管理”的分析。 
不良贷款 截至2006年末，集团不良贷款总额为982.20亿元人民币，较上年末下降50.06亿 
元人民币；不良贷款率为4.04%, 较上年末下降0.58个百分点。实现了“双降”的目标。详见 
下文“风险管理”的分析。 
贷款减值损失准备 截至2006年末，集团贷款减值损失准备余额为942.93亿元人民币， 
较上年末增加111.4亿元人民币；拨备覆盖率为96%，较上年末上升15.45个百分点。详见下 
文“风险管理”的分析。 
资本充足率 截至 2006 年末，集团资本充足率为 13.59%，核心资本充足率为 11.44%， 
分别较上年增加 3.17 个百分点及 3.36 个百分点，为近年来最高水平。主要原因是 ipo 募集 
的资金增加了核心资本；另外，外汇敞口降低相应使市场风险资本要求下降。详见下文“资 
本管理”的分析。 
21 
利润表主要项目分析 
利润表主要项目如下表： 
单位：百万元人民币 
项目 2006 年 2005 年 2004 年 2003 年 
净利息收入 120,707 100,405 84,985 71,904 
非利息收入 16,921 15,623 19,752 20,935 
业务及管理费 (53,614) (45,604) (41,915) (34,041) 
营业利润 77,552 64,744 57,841 54,826 
资产减值(损失)/回拨 (11,587) (10,985) (23,797) (16,432) 
利润总额 67,009 55,140 34,576 38,573 
所得税 (19,857) (22,543) (9,330) (6,676) 
税后利润 47,152 32,597 25,246 31,897 
少数股东应享本年利润 (5,260) (5,105) (4,314) (3,190) 
净利润 41,892 27,492 20,932 28,707 
注：2003 年数据中包含出售中银香港部分股份获得净投资收益 71.54 亿元人民币。 
净利息收入 
2006 年，集团实现净利息收入 1,207.07 亿元人民币，较上年增加 203.02 亿元人民币， 
增幅 20.22%。 
净利息收入主要受生息资产及付息负债平均余额和利率水平的影响。在中国内地，中国 
人民银行负责制定人民币存贷款的基准利率，同时还规定了人民币贷款利率的下限和人民币 
存款利率的上限。此外，中国内地业务生息资产和付息负债的平均利率还受到中国宏观经济 
及市场竞争、货币市场流动性情况等因素的影响。境外机构生息资产和付息负债的平均利率 
则受外币市场利率、所在国(地区)经济状况、金融市场状况及相关货币政策等因素的影响。 
集团以及中国内地人民币业务、中国内地外币业务主要生息资产和付息负债项目的平均 
余额和平均利率1如下表所述： 
2006 年 2005项 目 年 
平均余额 平均利率 平均余额 平均利率 
集 团 (人民币百万元，以百分比列示者除外) 
1 平均余额是根据集团管理账目计算的每日平均余额，未经审计。 
22 
生息资产 
贷款 2,352,262 5.45% 2,192,058 5.00% 
债券投资 1,883,760 3.57% 1,475,673 3.05% 
存放及拆放同业和存放中央银行 710,323 2.70% 655,359 1.94% 
合计 4,946,345 4.34% 4,323,090 3.87% 
付息负债 
客户存款 4,070,308 1.96% 3,560,014 1.57% 
同业存入及拆入和对中央银行负债 373,811 2.51% 355,856 1.83% 
借入专项资金和发行债券 109,910 4.21% 115,843 3.90% 
合计 4,554,029 2.06% 4,031,713 1.66% 
净利差 2.28% 2.21% 
中国内地人民币业务 (人民币百万元，以百分比列示者除外) 
生息资产 
贷款 1,604,412 5.40% 1,443,512 5.40% 
债券投资 906,469 2.35% 656,983 2.41% 
存放及拆放同业和存放中央银行 350,694 1.81% 313,591 1.66% 
合计 2,861,575 3.99% 2,414,086 4.10% 
付息负债 
客户存款 2,792,952 1.57% 2,332,869 1.52% 
同业存入及拆入和对中央银行负债 176,661 2.14% 152,810 2.47% 
借入专项资金和发行债券 60,001 4.62% 53,959 4.71% 
合计 3,029,614 1.67% 2,539,638 1.65% 
净利差 2.32% 2.45% 
中国内地外币业务 (美元百万元，以百分比列示者除外) 
生息资产 
贷款 40,535 5.22% 41,770 4.01% 
债券投资 77,046 4.75% 60,367 3.52% 
存放及拆放同业和存放中央银行 27,691 2.87% 26,348 1.74% 
合计 145,272 4.52% 128,485 3.31% 
付息负债 
客户存款 59,288 1.98% 58,903 1.16% 
同业存入及拆入和对中央银行负债 19,465 2.50% 20,467 1.03% 
借入专项资金和发行债券 6,391 3.65% 7,361 3.27% 
合计 85,144 2.22% 86,731 1.31% 
净利差 2.30% 2.00% 
集团以及中国内地人民币业务、中国内地外币业务的净利息收入，及其受规模因素和利率因素变动2而引起的变化如下 
表所述： 
对利息收 支变动的 
项 目 2006 年 2005 年 变动 因素 分析 
2 计算规模因素变化对利息收支影响的基准是报告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 
支影响的基准是报告期生息资产和付息负债平均利率的变化，因规模因素和利率因素共同作用产生的影响归结为利率因素变 
动。 
23 
规模因素 利率因素 
集 团 (人民币百万元) 
利息收入 
贷款 128,270 109,711 18,559 8,010 10,549 
债券投资 67,195 44,938 22,257 12,447 9,810 
存放及拆放同业和存放中央银行 19,205 12,696 6,509 1,066 5,443 
合计 214,670 167,345 47,325 21,523 25,802 
利息支出 
客户存款 79,939 55,914 24,025 8,012 16,013 
同业存入及拆入和对中央银行负债 9,393 6,512 2,881 329 2,552 
借入专项资金和发行债券 4,631 4,514 117 (231) 348 
合计 93,963 66,940 27,023 8,110 18,913 
净利息收入 120,707 100,405 20,302 13,413 6,889 
中国内地人民币业务 (人民币百万元) 
利息收入 
贷款 86,589 77,903 8,686 8,689 (3) 
债券投资 21,274 15,852 5,422 6,013 (591) 
存放及拆放同业和存放中央银行 6,346 5,197 1,149 616 533 
合计 114,209 98,952 15,257 15,318 (61) 
利息支出 
客户存款 43,967 35,495 8,472 6,993 1,479 
同业存入及拆入和对中央银行负债 3,773 3,782 (9) 589 (598) 
借入专项资金和发行债券 2,774 2,543 231 285 (54) 
合计 50,514 41,820 8,694 7,867 (827) 
净利息收入 63,695 57,132 6,563 7,451 (888) 
中国内地外币业务 (美元百万元) 
利息收入 
贷款 2,116 1,675 441 (50) 491 
债券投资 3,658 2,123 1,535 587 948 
存放及拆放同业和存放中央银行 794 458 336 23 313 
合计 6,568 4,256 2,312 560 1,752 
利息支出 
客户存款 1,173 682 491 4 487 
同业存入及拆入和对中央银行负债 486 211 275 (10) 285 
借入专项资金和发行债券 233 241 (8) (32) 24 
合计 1,892 1,134 758 (38) 796 
净利息收入 4,676 3,122 1,554 598 956 
利息收入 
2006 年，集团实现利息收入 2,146.70 亿元人民币，较上年增加 473.25 亿元人民币，增 
幅 28.28%。利息收入的增长主要源于生息资产规模的增长和生息资产平均收益率的上升。集 
团生息资产平均余额增长了 14.42%，达到 49,463.45 亿元人民币；集团生息资产平均收益率 
提高了 47 个基本点，达到 4.34%。 
贷款 
2006 年，集团实现贷款利息收入 1,282.70 亿元人民币，较上年增加 185.59 亿元人民币，
24 
增幅 16.92%。主要是由于 (1) 在审慎保持风险与收益相平衡的情况下，集团推动贷款规模 
稳健增长，贷款平均余额增长 7.31%，达到了 23,522.62 亿元人民币；(2) 2006 年，美元等 
各主要外币市场利率水平不断上升，中国人民银行于 2006 年 4 月和 8 月两次提高人民币贷 
款法定基准利率，集团贷款平均利率增长了 45 个基本点，达到 5.45%。 
债券投资 
2006 年，集团实现债券投资利息收入 671.95 亿元人民币，较上年增加 222.57 亿元人民 
币，增幅 49.53%。主要是由于(1) 集团优化资产组合，将未能投放于贷款的剩余资金，包括 
ipo 募集的部分资金，投向收益率相对较高的债券投资，推动了债券投资平均余额增长了 
27.65%，达到 18,837.60 亿元人民币； (2) 美元等各主要外币市场利率水平不断上升，集团 
积极调整债券投资组合，债券平均利率增长了 52 个基本点，达到 3.57%。 
其中，人民币债券投资平均利率为 2.35%，较上年下降了 6 个基本点。主要是由于人民 
币资金市场流动性过剩对货币市场收益率形成较大压力。以一年期央行票据收益率为例(如下 
图所示)，从 2004 年开始，一年期央行票据收益率逐步走低，虽然在 2005 年三季度止跌回 
升，但其对本行盈利的影响在 2006 年充分显现。 
央行票据(一年期)收益率 
1.1030 
1.6030 
2.1030 
2.6030 
3.1030 
3.6030 
2004-9-30 2005-3-30 2005-9-30 2006-3-30 2006-9-30 
存放及拆放同业和存放中央银行 
2006 年，集团实现存放及拆放同业和存放中央银行利息收入 192.05 亿元人民币，较上 
年增加 65.09 亿元人民币，增幅 51.27%。主要是由于 (1) 受客户存款增加、中国人民银行
25 
2006 年三次上调存款准备金率(由 2005 年末的 7.5%上升至 2006 年末的 9.0%)的影响，本行 
存放中国人民银行法定存款准备金增幅较大；(2) 因美元等各主要货币市场利率水平不断上 
升等因素，存放及拆放同业和存放中央银行的平均利率提高了 76 个基本点，达到 2.70%。 
2006 年，集团进一步调整资产组合，努力压缩存放及拆放同业资金，截至 2006 年末， 
存放及拆放同业和存放中央银行资金平均余额在集团生息资产组合中的比重从 2005 年的 
15%下降至 2006 年的 14%，下降约 1 个百分点。 
利息支出 
2006 年，集团利息支出为 939.63 亿元人民币，较上年增加 270.23 亿元人民币，增幅 
40.37%。利息支出的增长主要是由于付息负债平均余额增长了 12.96%，达到 45,540.29 亿 
元人民币，以及付息负债平均利率上升 40 个基本点，达到 2.06%。 
客户存款 
2006 年，集团客户存款利息支出为 799.39 亿元人民币，较上年增加 240.25 亿元人民币， 
增幅 42.97%。主要是由于：一方面，集团大力发展客户存款业务，客户存款平均余额增长 
14.33%，达到 40,703.08 亿元人民币；另一方面，客户存款平均利率增长了 39 个基本点， 
达到 1.96%，主要是由于 (1) 美元等各主要外币市场利率水平不断上升；(2) 中国人民银行 
在 2005 年 5 次上调境内金融机构小额外币存款基准利率，其影响在 2006 年充分显现；(3) 中 
国人民银行在 8 月上调了人民币存款基准利率；(4) 境外机构定期存款比重上升等。 
同业存入及拆入和对中央银行负债 
2006 年，集团同业存入及拆入和对中央银行负债利息支出为 93.93 亿元人民币，较上年 
增加 28.81 亿元人民币，增幅 44.24%。主要是由于美元等各主要外币市场利率水平不断上升， 
致使同业存入及拆入和对中央银行负债平均利率上升了 68 个基本点，达到 2.51%。 
其中，人民币同业存入及拆入和对中央银行负债平均利率为 2.14%，同比下降 33 个基本 
点，主要由于集团加强主动负债管理，继续压缩高成本人民币同业存入资金。 
26 
借入专项资金和发行债券 
借入专项资金是集团向外国政府及/或银行以借入买方信贷、外国 
政府贷款及其他补贴贷款方式借取的长期多币种借款，一般用于特定 
商业用途的中国融资项目。2006 年，集团借入专项资金和发行债券利 
息支出为 46.31 亿元人民币，较上年增加 1.17 亿元人民币，增幅 
2.59%。因美元等各主要外币的市场利率水平不断上升，该项目平均 
利率上升了 31 个基本点，达到 4.21%。 
净息差 
2006 年，集团努力提高资产负债管理水平，压缩低收益资产和高成本负债的比重，在美 
元等主要外币市场利率水平不断上升及人民币/美元掉期业务的推动下，集团净息差增长 12 
个基本点，达到 2.44%。其中，中国内地外币与人民币的净息差呈现不同的走势： 
净息差(%) 2006 年 2005 年 2004 年 2003 年 
中国内地外币业务 3.22 2.43 1.41 1.55 
中国内地人民币业务 2.23 2.37 2.72 2.38 
关于外币净息差。外币净息差较上年上升 79 个基本点，达到 3.22%。主要原因是：(1) 在 
人民币资金市场流动性过剩，且缺乏可替代的人民币投资工具的情况下，本行加强主动资产 
负债管理，充分发挥本行在外汇业务领域的专业能力和经营优势，叙做了人民币/美元掉期交 
易，该等交易增加了美元利息收入（相关掉期交易的成本计入“净交易收入”项目）；(2) 美 
元等各主要外币的市场利率水平不断上升。 
关于人民币净息差。中国人民银行 2006 年调整了存贷款的基准利率，这对本行人民币 
存贷款业务的利差收益产生积极影响，但由于以下原因，人民币净息差仍较上年有所下降： 
(1) 受宏观金融环境和市场竞争等因素的影响，债券投资和票据贴现的平均利率较上年有所 
下降，同时，其年内平均余额在人民币生息资产中的比重有所上升，导致人民币生息资产平 
集团净息差(%) 
2.03 
2.15 
2.32 
2.44 
2003年 2004年 2005年 2006年
27 
均利率从上年的 4.10%降至 3.99%；(2) 如上文所述，本行叙做人民币/美元掉期交易以增加 
集团的整体收益，但该等交易减少了人民币利息收入。 
非利息收入 
单位：百万元人民币 
2006 年 2005 年 2004 年 2003 年 
手续费及佣金收支净额 14,323 9,247 8,557 7,353 
净交易收入 -3,779 4,482 8,752 4,456 
投资收益 3,831 (248) 1,078 8,413 
其他业务收支净额 2,546 2,142 1,365 713 
合计 16,921 15,623 19,752 20,935 
注：2003 年投资收益中包括出售中银香港部分股份获得净投资收益 71.54 亿元人民币。 
2006 年，集团实现非利息收入 169.21 亿元人民币，较上年增长 12.98 亿元人民币，增 
幅 8.31%。非利息收入占比为 12.29%，较上年下降 1.17 个百分点。若剔除集团外汇敞口估 
值损失因素，非利息收入占比为 18.14 %，较上年上升 1.27 个百分点。 
手续费及佣金收支净额 
集团通过遍布全球的分支机构网络，发挥多元化经营及各类专业人才优势，向客户提供 
了品种丰富的中间业务产品及服务，主要包括代理、结算和清算、信用承诺、银行卡、托管 
及其他受托业务等。通过发展中间业务产品及服务，不仅为集团创造了稳定的收入，改善了 
业务结构和收入结构，也为客户提供了更为全面的多元化金融服务，促进了与客户之间长远 
关系的发展。 

28 
2006 年，集团实现手续费及佣金收支净额 143.23 亿元人民币，较上年增长 50.76 亿元 
人民币，增幅 54.89%。下表列示了集团手续费及佣金收支净额的主要组成部分： 
单位：百万元人民币 
2006 年 2005 年 2004 年 2003 年 
代理业务收入 4,621 2,735 2,690 2,137 
结算与清算业务收入 3,848 2,941 2,626 2,237 
信用承诺手续费及佣金收入 3,064 2,693 2,367 2,075 
银行卡业务收入 2,937 2,340 1,840 1,340 
受托业务收入及其他手续费收入 2,669 1,989 1,865 1,779 
手续费及佣金收入 17,139 12,698 11,388 9,568 
手续费及佣金支出 -2,816 -3,451 -2,831 -2,215 
手续费及佣金收支净额 14,323 9,247 8,557 7,353 
中国内地手续费及佣金收支净额占集团该项损益的大部分。2006 年，中国内地实现手续 
费及佣金收支净额 86.29 亿元人民币，较上年增长 34.22 亿元人民币，增幅 65.72%。下表列 
示了中国内地手续费及佣金收支净额的主要组成部分： 
单位：百万元人民币 
中国内地 2006 年 2005 年 2004 年 2003 年 
代理业务收入 1,406 823 647 425 
结算与清算业务收入 2,402 1,745 1,681 1,395 
信用承诺手续费及佣金收入 2,164 1,784 1,407 1,191 
银行卡业务收入 2,080 1,540 1,095 776 
受托业务收入及其他手续费收入 1,541 1,112 654 532 
手续费及佣金收入 9,593 7,004 5,484 4,319 
手续费及佣金支出 -964 -1,797 -1,432 -1,128 
手续费及佣金收支净额 8,629 5,207 4,052 3,191 
为进一步加快中间业务的发展，确保集团在中国银行业中间业务领域的优势地位，2006 
年集团制定了中间业务发展三年规划和加快中间业务发展的政策，通过以下主要措施推动了 
中间业务持续快速的发展：（1）进一步建立健全中间业务管理体系和组织架构，在资源配置 
和发展政策上对中间业务产品及服务给予倾斜和支持，加大中间业务的考核与激励力度；（2） 
在努力保持、推动传统优势中间业务的同时，高度重视产品创新，在国际结算及贸易融资、 
对公对私理财产品及服务、qdii、银行卡等领域，推出了一系列较具竞争力的新产品；（3） 
加强集团内部产品管理部门与客户关系部门，境内分行与境外机构，商业银行与投资银行、
29 
保险的联动营销与交叉营销，增强集团整体竞争实力；及（4）进一步加强服务价格管理，完 
善服务价格定价策略，调整服务收费项目及价格标准，稳步推进新增收费项目，拓宽新的收 
费渠道。 
代理业务收入 
2006 年，集团实现代理业务收入 46.21 亿元人民币，较上年增长 18.86 亿元人民币，增 
幅 68.96%。2006 年，中国经济增长较快，城乡居民可支配收入持续增加，尤其是中国内地 
及香港地区资本市场的快速发展，促使集团代销基金、代理保险、代客买卖证券等业务大幅 
增长，成为 2006 年度集团代理业务收入的主要增长点。 
结算与清算业务收入 
2006 年，集团实现结算与清算业务收入 38.48 亿元人民币，较上年增长 9.07 亿元人民 
币，增幅 30.84%。主要是因为市场对贸易结算及清算服务需求增加，国际信用证等相关结算 
业务保持了较快增长。另外，本行“核心一期”系统投产后，实现了以借记卡为载体的通存 
通兑和实时汇划，中国内地个人汇划业务呈现较好的增长态势，相关收入快速增长。 
信用承诺手续费及佣金收入 
信用承诺手续费及佣金收入主要包括担保服务收费、转贷款及银团贷款相关费用。2006 
年，集团实现信用承诺手续费及佣金收入 30.64 亿元人民币，较上年增长 3.71 亿元人民币， 
增幅 13.78%。主要是由于国内外贸易持续发展，本行叙做的保函、银团贷款等业务相关收入 
有较大增长。 
银行卡业务收入 
银行卡业务收入主要包括年费、取现手续费、交易手续费及商户服务费等。2006 年，集
30 
团实现银行卡业务收入 29.37 亿元人民币，较上年增长 5.97 亿元人民币，增幅 25.51%。2006 
年度，境内机构加大了银行卡产品研发力度，推出具备分期付款功能的中银都市卡、长城公 
务卡和系列联名卡产品，银行卡发卡量稳步增长，交易量逐年上升，银行卡交易手续费收入 
亦随之稳步提高。此外，因借记卡年费的全面开征，境内机构借记卡年费收入较上年增长了 
2.14 亿元人民币。 
受托业务收入及其他手续费收入 
受托业务收入及其他手续费收入主要包括托管费及账户管理费、企业财务顾问费等其他 
各类服务收费。2006 年，集团实现受托业务收入及其他手续费收入 26.69 亿元人民币，较上 
年增长 6.8 亿元人民币，增幅 34.19%。主要原因是：（1）2006 年，境内机构进一步调整服 
务收费项目，全面开征个人小额账户管理费，个人账户管理费收入较上年增加 2.24 亿元人民 
币；（2）本行紧紧抓住市场发展的机遇，大力推进服务创新，推出企业财务顾问等业务，开 
辟了新的收入渠道。 
手续费支出 
2006 年，集团手续费支出为 28.16 亿元人民币，较上年下降 6.35 亿元人民币，降幅 
18.40%。主要是因为：（1）2006 年上海外汇交易中心调低外汇交易手续费率，境内机构同 
比减少费用支出约 3 亿元人民币；（2）境内机构在 2005 年发生次级债券发行费用约 1.3 亿 
元人民币、支付东方资产管理公司资产清理费约 1.6 亿元人民币，2006 年度未发生此项支出。 
净交易收入 
单位：百万元人民币 
2006 年 2005 年 2004 年 2003 年 
汇兑及汇率产品净损益 -2,204 2,518 5,069 8,309 
利率及其他产品净损益 -1,575 1,964 3,683 -3,853 
合计 -3,779 4,482 8,752 4,456 
31 
2006 年，集团净交易亏损为 37.79 亿元人民币。主要原因是 2006 年人民币加速升值导 
致汇兑及汇率产品出现较大损失，以及权益性衍生金融产品出现估值损失。 
汇兑及汇率产品净损益 
2006年，集团汇兑及汇率产品亏损22.04亿元人民币，主要由两部分构成：外汇买卖收 
益和外汇敞口估值损失。 
外汇买卖收益 
2006年，集团外汇买卖业务持续稳定增长，实现收益76.16亿元人民币。其中，境内机 
构实现结售汇价差收入59.38亿元人民币，较上年增长10.77亿元人民币，增幅22.16%，主要 
原因是结售汇点差较2005年有所扩大。 
外汇敞口估值损失 
2006 年集团外汇敞口估值净损失为 98.20 亿元人民币。截至 2006 年 12 月 31 日外汇敞 
口的具体构成以及 2006 年度的外汇敞口估值损益如下表所示： 
外汇敞口之构成 外汇敞口之估值损益 
截至 06 年 12 月 31 日 2006 年度 
金额单位为百万美元(1) 金额单位为百万元人民币(1) 
表内 表外 合计 表内 表外 合计 
1、 与期权交易相关的外汇敞口 
（1）与汇金公司签订的外币期权合同 - -18,000 1,949 
（2）通过外币期权进行经济套期保值的外汇注资 18,000 - 
- 
-4,707 
-2,758 
2、 与外汇掉期交易相关的外汇敞口 
（1）外汇掉期合同之即期交易 41,528 - -6,730 - 
（2）外汇掉期合同之远期交易 - -41,528 
- 
- 2,222 
-4,508 
3、境外外币投资产生的外汇敞口(2) 14,146 14,146 
4、其他外汇敞口 11,627 4,109 15,736 -2,773 219 -2,554 
小计 85,301 -55,419 29,882 -14,210 4,390 -9,820 
扣除：境外外币投资产生的外汇敞口(2) -14,146 
外汇净敞口 15,736 

32 
注：（1）在分析外汇敞口之构成时，正数代表多头，负数代表空头；在分析外汇敞口之估值损益时，正数代表收益，负数 
代表亏损。 
（2）境外外币投资产生的外汇敞口因汇率变动产生的折算差异在资产负债表“外币报表折算差额”项目反映，不影响 
损益。 
对上表所示主要项目解释如下： 
1、与期权交易相关的外汇敞口 
本行于2005年1月5日与汇金公司签署了一份期权合同，旨在为该公司对本行注资形成 
的美元汇率风险敞口提供经济套期保值。该期权合同规定，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的价格向汇金公司出售美元，每次交易不超过15亿美元，共计180 
亿美元。本行须向汇金公司支付相关期权费用人民币44.69亿元，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。该期权合同在2006年的估值收益为19.49亿元，部分弥 
补了相关表内敞口因人民币升值所形成的47.07亿元汇兑损失。 
2、与外汇掉期交易相关的外汇敞口 
考虑到人民币流动性过剩并缺乏可替代的投资工具，且外币资金平均收益率高于人民币 
资金平均收益率的现状，本行通过叙做人民币/美元掉期交易提高收益水平。在该掉期交易中， 
本行即期换入美元、换出人民币，以获取外币资金运用与人民币资金运用之间的利差收益； 
远期换出美元、换入人民币，有效锁定汇率风险，并不影响本行的外汇敞口。截止2006年12 
月31日，该掉期交易余额为415亿美元。 
2006年，上述掉期合同之即期交易的估值损失为67.30亿元，远期交易的估值收益为 
22.22亿元，二者相抵，为估值净损失45.08亿元，计入利润表“净交易收入”项目，因此2006 
年本行“净交易收入”比去年大幅下降。同时，本行通过该掉期交易换入美元资金取得的本 
外币利差收益，则在利润表“利息收入”项目中反映。详见下文的“综合成本效益分析”。 

33 
3、其他外汇敞口 
截至2006年12月31日，集团其他外汇敞口为多头157亿美元，其中，表内多头116亿美 
元，表外多头41亿美元。表内外汇敞口主要包括股东投入的未被经济套期保值的外汇资本金、 
本行尚未结汇的外汇利润、正常经营过程中保留的外汇周转头寸以及因外币之间的交易形成 
的多头或空头。 
尽管2006年本行存在ipo募集外汇资本金、实现外汇利润等外汇敞口增加因素，但本行 
获得国家有关部门批准，当年结汇263亿美元，使集团外汇净敞口由上年末的259亿美元降至 
本年末的157亿美元（有关集团外汇敞口的变动，详见会计报表注释九）。2006年该外汇敞 
口估值损失为25.54亿元人民币，较2005年有所降低。 
2007年本行采取结汇措施进一步降低外汇敞口的计划目前已开始实施，因此预计2007年 
末本行外汇净敞口仍将继续下降。 
综合成本效益分析 
尽管2006年本行全部外汇净敞口的估值损失为98.20亿元人民币，但因外币资金平均收 
益率高于人民币资金平均收益率，本行持有外汇头寸亦取得了相应的利差收益。例如，2006 
年本行境内机构外币债券平均收益率为4.75%，人民币债券平均收益率为2.35%，本外币债券 
平均收益率之差为2.40％。因此管理层认为，2006年本行持有表内外汇敞口头寸产生的利差 
收入足以弥补上述外汇净敞口的估值损失。 
利率及其他产品净损益 
利率及其他产品的净损益主要包括交易性债券的买卖损益及估值损益、利率衍生产品估 
值损益以及权益性衍生金融产品损益等。受市场利率变化等因素影响，集团利率产品交易净 
收益为 4.92 亿元人民币，而中银国际权益性衍生金融产品则出现亏损 20.67 亿元。中银国际 
叙做权益性衍生金融产品的目的是为了对其交易性股权投资进行经济套期保值。交易性股权
34 
投资公允价值变动及买卖股票交易收入反映在“投资收益”项目中。 
投资收益 
2006 年，集团实现投资收益 38.31 亿元人民币，较上年增加 40.79 亿元人民币。主要原 
因为（1）2006 年，中银国际抓住香港及内地资本市场兴起的大好时机，权益证券交易及估 
值收益约 23 亿元人民币。对权益证券进行经济套期保值而叙做的权益性衍生金融产品的估值 
损益则在利润表“净交易收入”项目中反映；（2）本行出售珠海南通银行及处置部分投资项 
目，实现收益较上年增长约 11 亿元人民币；（3）集团应享联营企业收益增长约 5 亿元人民 
币。 
其他业务收支净额 
单位：百万元人民币 
2006 年 2005 年 2004 年 2003 年 
其他业务收入 
保险业务收入 7,708 5,237 4,057 3,225 
其他 2,623 1,380 1,268 758 
小计 10,331 6,617 5,325 3,983 
其他业务支出 
保险理赔费用 -7,484 -3,861 -2,928 -2,767 
其他 -301 -614 -1,032 -503 
小计 -7,785 -4,475 -3,960 -3,270 
其他业务收支净额 2,546 2,142 1,365 713 
集团其他业务收入及支出主要由保险业务收入与保险理赔费用组成。2006 年，随着集团 
保险业务的快速发展，保险业务收入增加 24.71 亿元人民币，增长 47.18%，保险理赔费用增 
加 36.23 亿元人民币，较上年增长 93.84%。保险理赔费用增长较快的主要原因是 2006 年度 
集团寿险业务增长较快，相应提取的人寿保单储备金增幅较大。 
其他收入主要包括处置债转股投资净收益 13.09 亿元人民币，及向独立第三方处置部分
35 
贷款获得的净收益 6.60 亿元人民币。 
业务及管理费 
单位：百万元人民币 
2006 年 2005 年 2004 年 2003 年 
员工费用 30,677 23,979 19,814 16,394 
业务费用 17,283 15,742 13,992 11,188 
折旧 5,654 5,883 8,109 6,459 
合计 53,614 45,604 41,915 34,041 
2006 年，集团业务及管理费为 536.14 亿元人民币，较上年增加 80.10 亿元人民币，增 
幅 17.56%。其中： 
员工费用为 306.77 亿元人民币，较上年增加 66.98 亿元人民币，增幅 27.93%。员工费 
用增长的主要原因为：（1）2006 年，集团进一步落实经国务院批准的股份制改革实施总体方 
案，包括制定和落实全面的员工薪酬改革方案和建立企业年金计划。境内分支机构从本年度 
起正式执行新的薪酬制度。该薪酬制度在重新评定了每个岗位的职能与职责、并参考了内地 
同业工资水平的基础上，对每个岗位的薪酬水平进行了新的评价。由于新薪酬制度的实施， 
境内分支机构员工平均工资水平在整体上有一定程度的提高；（2）因工资性费用的增长，按 
工资总额的 14%、2%及 1.5%计提的福利费、工会经费以及职工教育经费相应增加；（3）因 
缴费工资总额基数增加，境内机构员工养老金设定提存计划及其他社会保险等支出亦相应增 
加。有关员工费用的主要构成及变化，详见会计报表注释五、35。 
业务费用为 172.83 亿元人民币，较上年增加 15.41 亿元人民币，增幅 9.79%。业务费用 
主要包括营销费用、水电费、印刷费、邮电费、维护费用以及其他各种办公开支，监管费用 
及专业服务费等。因集团业务规模扩大，市场竞争日趋激烈，支持业务发展所需的费用也随 
之增长。其中，银监会征收的监管费为 9.92 亿元人民币，较上年增加 0.66 亿元人民币。 
36 
2006 年，集团进一步加强预算管理和成本控制，业务及管理费增长幅度低于营业收入的 
增长幅度。2006 年集团成本收入比为 38.96%，较上年下降 0.34 个百分点，运营效率进一步 
提高。 
资产减值损失 
单位：百万元人民币 
2006 年 2005 年 2004 年 2003 年 
贷款减值损失 11,687 10,888 22,793 14,701 
抵债资产减值损失 85 133 2,997 2,019 
其他应收款坏账(转回)/损失 -211 498 -2,216 178 
固定资产及其他资产减值损失/(转回) 26 -534 223 -466 
合计 11,587 10,985 23,797 16,432 
2006 年，集团信贷资产质量进一步改善，不良贷款额及不良贷款率实现双降。同时，集 
团继续执行谨慎的贷款减值准备政策，2006 年当期计提贷款减值损失 116.87 亿元人民币， 
较上年增加 7.99 亿元人民币。2006 年，集团信贷成本为 0.50%，与上年基本持平。 
关于贷款质量情况和贷款减值准备的情况详见“风险管理—信用风险”部分。 
所得税分析 
2006 年，集团所得税支出为 198.57 亿元人民币，较上年减少 26.86 亿元人民币，降幅 
11.92%；有效税率为 29.63%，较上年下降 11.25 个百分点。主要原因是根据《财政部 国家 
税务总局关于核定中国银行股份有限公司计税工资税前扣除标准有关问题的通知》（ 财税 
[2007]40 号）的规定，本集团获得财政部和国家税务总局关于本行 2006 年境内员工工资费 
用所得税税前扣除 156.69 亿元的批复，2006 年度所得税费用因此减少约 46 亿元人民币。 
有关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的调节过程，详见会计 
报表注释五、38。 

37 
资产负债项目分析 
截至 2006 年末，集团资产总额为 53,252.73 亿元人民币，较上年末增加 5,824.67 亿元 
人民币，增幅 12.28%；集团负债总额为 49,074.59 亿元人民币，较上年末增加 4,272.73 亿 
元人民币，增幅 9.54%。集团主要资产负债项目如下表所示： 
单位：百万元人民币 
集团 2006 年 2005 年 2004 年 2003年 
资产 
贷款 2,431,806 2,235,046 2,146,462 2,157,473 
债券投资3 1,879,418 1,669,591 1,309,479 1,092,187 
存放及拆放同业和存放中央银行 787,471 661,478 631,727 700,659 
其他资产 226,578 176,691 182,775 29,646 
资产总计 5,325,273 4,742,806 4,270,443 3,979,965 
负债 
客户存款 4,095,422 3,703,777 3,342,477 3,035,956 
同业存入及拆入和对中央银行负债 363,755 375,288 318,443 327,673 
发行债券和借入其他资金 123,571 112,343 95,802 81,052 
其他负债 324,711 288,778 280,983 305,808 
负债总计 4,907,459 4,480,186 4,037,705 3,750,489 
贷款 
贷款是集团资产最重要的组成部分。截至 2006 年末，集团各项贷款总额为 24,318.06 
亿元人民币，较上年末增加 1,967.60 亿元人民币，增幅 8.80%。 
2006 年，集团贷款质量继续改善，关注类贷款明显下降，优质客户比例提升。贷款结构 
进一步优化，适当压缩了收益率相对较低的票据融资业务，提高了收益率相对较高的贷款的 
占比。 
企事业贷款和消费信贷 
单位：百万元人民币 
2006 年 2005 年 2004 年 2003 年 
集团 金额 占比 金额 占比 金额 占比 金额 占比 
3 包括交易性及其他公允价值变动计入损益的债券、可供出售债券、持有至到期债券净值、分类为贷款及应收款的债券净值。 

38 
企事业贷款 1,849,062 76.04% 1,712,043 76.60% 1,652,421 76.98% 1,774,080 82.23% 
消费信贷 582,744 23.96% 523,003 23.40% 494,041 23.02% 383,393 17.77% 
合计 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
应计和非应计贷款 
非应计贷款是指贷款本金或利息逾期超过 90 天没有收回的贷款。应计贷款是指非应计贷 
款以外的贷款。 
单位：百万元人民币 
2006 年 2005 年 2004 年 2003 集团 年 
金额 占比 金额 占比 金额 占比 金额 占比 
应计贷款 2,354,814 96.83% 2,158,232 96.56% 2,091,360 97.43% 1,863,714 86.38% 
非应计贷款 76,992 3.17% 76,814 3.44% 55,102 2.57% 293,759 13.62% 
合计 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
关于贷款进一步分类、贷款质量情况和贷款减值损失准备的情况详见“风险管理—信用 
风险”部分。 
债券投资 
截至 2006 年末，集团债券投资为 18,794.18 亿元人民币，较上年末增加 2,098.27 亿元 
人民币，增幅 12.57%。上述债券投资中无重大减值项目。下表列示了集团债券投资的主要构 
成： 
单位：百万元人民币 
集团 2006 年 2005 年 2004 年 2003 年 
金额 占比 金额 占比 金额 占比 金额 占比 
交易性及其他公允价值变 
动计入损益的债券 
110,634 5. 88% 107,271 6.42% 91,012 6.95% 114,557 10.49% 
可供出售债券 807,308 42.96% 593,010 35.53% 346,532 26.46% 410,140 37.55% 
持有至到期日债券净值 461,140 24.54% 607,459 36.38% 457,994 34.98% 215,175 19.70% 
分类为贷款及应收款的债 
券净值 
500,336 26.62% 361,851 21.67% 413,941 31.61% 352,315 32.26% 
合 计 1,879,418 100.00% 1,669,591 100.00% 1,309,479 100.00% 1,092,187 100.00% 
截至 2006 年末，可供出售类债券和分类为贷款及应收款的债券净值占比均比上年提高， 
而持有至到期日债券净值占比明显下降，交易性及其他公允价值变动计入损益的金融资产占 
比与上年基本持平。债券投资结构发生以上变化的主要原因为：（1）为灵活把握市场机会，
39 
在控制风险的前提下获得尽可能高的回报，在原有持有至到期债券逐步到期后，本行将回流 
的资金主要投资于可供出售债券；（2）在综合考虑风险及收益的基础上，加大了央行票据的 
持有量，并于年末将部分资金投放到外币短期票据。因此，分类为贷款及应收款的债券净值 
占比提高。 
按债券发行人划分的债券投资 
单位：百万元人民币 
2006 年 2005 年 2004 年 2003 年 
集团 
金额 占比 金额 占比 金额 占比 金额 占比 
政府及政府担保债券 817,643 43.50% 794,413 47.58% 590,932 45.12% 430,903 39.43% 
金融机构债券 610,738 32.50% 475,878 28.50% 359,503 27.45% 318,744 29.17% 
公共实体及准政府债券 263,333 14.01% 263,007 15.75% 274,983 21.00% 275,178 25.18% 
公司债券 187,856 9.99% 136,449 8.17% 84,253 6.43% 67,944 6.22% 
小计 1,879,570 100.00% 1,669,747 100.00% 1,309,671 100.00% 1,092,769 100.00% 
减值准备 (152) (156) (192) (582) 
合计 1,879,418 1,669,591 1,309,479 1,092,187 
按货币划分的债券投资 
单位：百万元人民币 
债券投资 2006 年 2005 年 
人民币 875,220 834,407 
美元 703,112 562,128 
港币 169,310 147,966 
其他 131,776 125,090 
合计 1,879,418 1,669,591 
客户存款 
截至 2006 年末，集团客户存款为 40,954.22 亿元人民币，较上年末增加 3,916.45 亿元 
人民币，增幅 10.57%。其中，公司存款、个人存款分别增长 1,809.52 亿元人民币和 1,932.35 
亿元人民币。 
40 
按客户类型划分的客户存款 
下表按客户类型列示集团客户存款的构成： 
单位：百万元人民币 
2006 年 2005 年 2004 年 2003 集团 年 
金额 占比 金额 占比 金额 占比 金额 占比 
公司存款 
活期存款 979,653 23.92% 836,763 22.59% 776,648 23.24% 679,524 22.38% 
一年期及以下定期 514,564 12.56% 486,681 13.14% 373,467 11.17% 312,585 10.30% 
一年期以上 36,496 0.89% 26,317 0.71% 32,743 0.98% 20,182 0.66% 
小计 1,530,713 37.38% 1,349,761 36.44% 1,182,858 35.39% 1,012,291 33.34% 
个人存款 
活期存款 770,583 18.82% 667,957 18.03% 697,028 20.85% 607,904 20.02% 
一年期及以下定期 1,302,266 31.80% 1,243,964 33.59% 1,059,284 31.69% 1,066,069 35.11% 
一年期以上 346,010 8.45% 313,703 8.47% 296,246 8.86% 260,874 8.59% 
小计 2,418,859 59.06% 2,225,624 60.09% 2,052,558 61.41% 1,934,847 63.73% 
存入保证金 145,850 3.56% 128,392 3.47% 107,061 3.20% 88,818 2.93% 
合计 4,095,422 100.00% 3,703,777 100.00% 3,342,477 100.00% 3,035,956 100.00% 
2006 年，集团继续推进主动负债管理，在推动存款规模稳步增长的同时，积极采取措施， 
优化存款结构，公司存款和个人存款中活期存款的占比分别提高了 2.01 和 1.85 个百分比。 
下表按客户类型列示中国内地客户存款的构成： 
单位：百万人民币 
中国内地 2006 年 2005 年 2004 年 2003 年 
金额 占比 金额 占比 金额 占比 金额 占比 
公司存款 
活期存款 871,331 26.65% 734,140 25.08% 657,481 25.80% 574,029 25.08% 
一年期及以下定期 384,294 11.75% 369,455 12.62% 263,920 10.36% 221,793 9.69% 
一年期以上 35,723 1.09% 23,939 0.82% 19,515 0.77% 19,032 0.83% 
小计 1,291,348 39.49% 1,127,534 38.51% 940,916 36.92% 814,854 35.61% 
个人存款 
活期存款 544,974 16.67% 470,508 16.07% 416,516 16.34% 351,875 15.38% 
一年期及以下定期 955,536 29.22% 903,685 30.87% 804,928 31.58% 785,862 34.34% 
一年期以上 340,136 10.40% 304,491 10.40% 286,832 11.25% 254,453 11.12% 
小计 1,840,646 56.29% 1,678,684 57.34% 1,508,276 59.18% 1,392,190 60.84% 
存入保证金 137,815 4.21% 121,344 4.14% 99,417 3.90% 81,310 3.55% 
合计 3,269,809 100.00% 2,927,562 100.00% 2,548,609 100.00% 2,288,354 100.00%
41 
按区域划分的客户存款 
下表按区域列示集团客户存款的构成： 
单位：百万元人民币 
2006 年 2005 年 2004 年 2003 集团 年 
金额 占比 金额 占比 金额 占比 金额 占比 
中国内地 3,269,809 79.84% 2,927,562 79.04% 2,548,609 76.25% 2,288,354 75.38% 
港澳及其他境外地区 825,613 20.16% 776,215 20.96% 793,868 23.75% 747,602 24.62% 
合计 4,095,422 100.00% 3,703,777 100.00% 3,342,477 100.00% 3,035,956 100.00% 
中国内地客户存款占集团存款的大部分，内地各地区存款分布如下表： 
单位：百万元人民币 
2006 年 2005 年 2004 年 2003 年 
中国内地 
金额 占比 金额 占比 金额 占比 金额 占比 
东北 250,412 7.66% 226,695 7.74% 203,727 7.99% 183,440 8.02% 
华北 686,480 20.99% 640,856 21.89% 534,382 20.97% 489,667 21.40% 
华东 1,096,859 33.55% 955,325 32.63% 824,746 32.36% 735,308 32.13% 
中部及南部 874,594 26.75% 791,382 27.03% 714,551 28.04% 644,504 28.16% 
西部 361,464 11.05% 313,304 10.70% 271,203 10.64% 235,435 10.29% 
合计 3,269,809 100.00% 2,927,562 100.00% 2,548,609 100.00% 2,288,354 100.00% 
本行在中国内地的存款主要集中在华北、华东和中部及南部地区，这三个地区也是本行 
重点发展的区域，三地区客户存款总额为 26,579.33 亿元人民币，占中国内地存款总额的 
81.29%，占集团存款总额的 64.90%。 
按货币划分的客户存款 
客户存款 单位：百万人民币 
2006 年 2005 年 
人民币 2,902,584 2,531,878 
美元 422,490 440,252 
港元 573,912 529,827 
其他货币 196,436 201,820 
合计 4,095,422 3,703,777 
人民币客户存款是集团最重要的资金来源，2006 年，人民币存款为 29,025.84 亿元，占 
客户存款总额的 70.87%，同比上升 2.51 个百分点。人民币存款新增 3,707.06 亿元，占全部
42 
新增存款的 94.65%。外币客户存款主要为美元存款与港币存款，分别占客户存款总额的 
10.32%与 14.01%。 
股东权益 
近年来，通过 2003 年汇金公司的注资，2005 年引进战略投资者，以及 2006 年 ipo 等， 
本行资本实力大大增强。截至 2006 年末，集团股东权益为 3,882.54 亿元人民币，较上年末 
增加 1,544.12 亿元人民币，增幅 66.03%。股东权益增加的主要原因如下： 
（1）2006 年 3 月 13 日，本行向全国社会保障基金理事会定向溢价发行约 85.14 亿股 
面值为每股人民币 1 元的普通股，由此产生的股本溢价扣除发行费用后的余额 14.81 亿元人 
民币计入资本公积。 
（2）2006 年 6 月 1 日和 6 月 9 日，本行向境外投资者溢价发行约 294.04 亿股面值为 
每股人民币 1 元的境外上市外资股(h 股)，由此产生的股本溢价扣除发行费用后的余额 581.28 
亿元人民币计入资本公积。 
（3）2006 年 6 月 29 日，本行向境内投资者溢价发行 64.94 亿股面值为每股人民币 1 
元的普通股(a 股)，由此产生的股本溢价扣除发行费用后的余额 129.58 亿元人民币计入资本 
公积。 
（4）2006 年，集团实现净利润 418.92 亿元人民币。 
有关股东权益变动的具体情况详见会计报表之股东权益变动表。 
资产负债表表外项目 
集团资产负债表表外项目主要包括衍生金融产品、或有事项与承诺等。 

43 
衍生金融产品 
集团主要以交易及套期保值为目的叙做衍生金融产品，包括外汇衍生金融产品、利率衍 
生金融产品、权益衍生金融产品、贵金属衍生金融产品。 
截止 2006 年末，集团衍生金融产品的合同/名义本金及公允价值详见会计报表注释五、 
3。 
或有事项与承诺 
集团或有事项与承诺包括法律诉讼、质押资产、资本性承诺、经营租赁、凭证式国债兑 
付承诺、信用承诺和受托业务。其中，信用承诺是最主要组成部分，2006 年末余额达 10,878.22 
亿元人民币。 
或有事项与承诺的具体信息详见会计报表注释十一。 
地区分部报告 
集团主要在中国内地、港澳地区以及其他境外地区开展业务活动。三大地区的利润贡献 
及资产负债总体情况如下表： 
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 
2006 年 2005 年 2006 年 2005 年 2006 年 2005 年 2006 年 2005 年 2006 年 2005 年 
资产 4,291,241 3,803,989 1,078,863 966,225 214,735 186,982 (259,566) (214,390) 5,325,273 4,742,806 
负债 3,915,907 3,584,086 978,465 871,046 204,673 178,853 (191,586) (153,799) 4,907,459 4,480,186 
净利息收入 100,910 82,687 17,980 16,027 1,813 1,691 4 - 120,707 100,405 
非利息收入 6,215 7,132 10,483 7,224 827 1,267 -604 16,921 15,623 
业务及管理费 -43,139 -36,600 -9,070 -7,287 -1,465 -1,717 60 - -53,614 -45,604 
营业利润 57,619 47,627 19,330 15,904 1,143 1,213 -540 - 77,552 64,744 
资产减值(损失)/回拨 -14,923 -15,404 3,106 3,869 230 550 - - -11,587 -10,985 
利润总额 42,672 32,752 23,395 20,450 1,482 1,938 -540 - 67,009 55,140 
所得税 -16,353 -19,409 -3,404 -2,814 -290 -320 190 - -19,857 -22,543 
少数股东应享本年利润 -9 -5 -5,251 -5100 - - - - -5,260 -5105 
净利润 26,310 13,338 14,740 12,536 1,192 1,618 -350 - 41,892 27,492
44 
中国内地是集团最重要的经营区域。截至 2006 年末，该地区资产总额（抵销前）为 
42,912.41 亿元人民币，较上年增长 4,872.52 亿元人民币，增幅 12.81%，占集团资产总额 
76.84%，较上年增长 0.10 个百分点。2006 年度，该地区实现营业利润（抵销前）576.19 亿 
元人民币，较上年增长 99.92 亿元人民币，增幅 20.98%，对集团营业利润的贡献为 73.78%。 
实现净利润（抵销前）263.10 亿元人民币，较上年增长 129.72 亿元人民币，增幅 97.26%， 
对集团净利润（抵销前）的贡献为 62.28%。该地区正成为集团日益重要的收入和利润增长来 
源。集团在中国内地拥有众多分支机构，提供以零售业务和公司业务为主的传统商业银行服 
务，兼营人民币和外币，尤其在外币业务方面，本集团在国内市场一直保持明显的领先优势。 
港澳地区是集团除中国内地之外的另一个重点经营区域。截至 2006 年末，该地区资产 
总额（抵销前）为 10,788.63 亿元人民币，较上年增长 1,126.38 亿元人民币，增幅 11.66%， 
占集团资产总额（抵销前）19.32%，较上年下降 0.17 个百分点。2006 年度，该地区实现营 
业利润（抵销前）193.3 亿元人民币，较上年增长 34.26 亿元人民币，增幅 21.54%，对集团 
营业利润（抵销前）的贡献为 24.75%。实现净利润（抵销前）147.4 亿元人民币，较上年增 
长 22.04 亿元人民币，增幅 17.58%，对集团净利润的贡献为 34.89%。除传统商业银行业务 
外，集团在港澳地区还拥有中银国际控股有限公司、中银集团保险有限公司、中银集团投资 
有限公司等子公司，对集团实施全能化业务经营的战略布局具有重要意义。 
除中国内地和港澳地区外，集团还在欧洲、北美、南美、非洲和亚太其他地区设有广泛 
的网络。截至 2006 年末，该地区资产总额（抵销前）为 2,147.35 亿元，较上年增长 277.53 
亿元人民币，增幅 14.84%，占集团资产总额 3.84%。该地区 2006 年度实现营业利润（抵销 
前）11.43 亿元，净利润（抵销前）11.92 亿元，对集团的贡献率分别为 1.46%与 2.82%。 
有关业务条线的分部分析，请详见“业务回顾”部分。 
45 
主要会计估计和假设 
本集团在应用会计政策确定相关资产负债的账面价值及报告期损益时，在某些方面会作 
出若干估计和假设。本集团作出的估计和假设是根据历史经验以及对未来事件的合理预期等 
因素进行的，并且会不断地对其进行评估。集团管理层相信，本集团作出的估计和假设，均 
已适当地反映了本集团面临的经济状况。受估计和判断影响的主要领域包括：贷款减值损失 
准备及呆账核销；债券资产分类；交易性及公允价值变动计入损益的债券和可供出售债券公 
允价值的计量；衍生金融产品公允价值的计量；养老金设定受益计划的确认；所得税费用的 
确认等。上述事项相关的会计政策和会计估计，请详见会计报表注释三。 
其他财务信息 
按不同会计准则呈报的财务数据及差异 
国内外审计重要财务数据及差异 
集团按中国会计准则与按国际财务报告准则呈报的净资产与净利润差异及有关会计准则 
差异的说明详见会计报表附件一 4。 
新旧会计准则股东权益差异调节表 
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（简称新会 
计准则），并要求自 2007 年 1 月 1 日起首先在上市公司执行。 
本集团于 2007 年 1 月 1 日起开始执行新会计准则。为分析并披露执行新会计准则对本 
集团财务状况的影响，本集团根据中国证券监督管理委员会于 2006 年 11 月颁布的《关于做 
好与新会计准则相关财务会计信息披露工作的通知》(证监发[2006]136 号)，按照《企业会计
46 
准则第 38 号―首次执行企业会计准则》的有关规定，编制了新旧会计准则集团股东权益差异 
调节表，披露执行新会计准则重大差异的调节过程。本差异调节表以 2006 年度合并会计报 
表为基础，并依据重要性原则反映了上述追溯调整以及追溯调整之后本集团于 2007 年 1 月 1 
日新会计准则下的股东权益。 
本行于 2006 年 6 月在香港交易所上市，并按国际财务报告准则向国际投资者提供和披 
露会计报表。本行除了对按照《企业会计准则第 38 号－首次执行企业会计准则》第五条至第 
十九条所规定的有关项目进行追溯调整外，参照企业会计准则实施问题专家工作组于 2007 
年 2 月 1 日发布的《企业会计准则实施问题专家工作组意见第一号》的精神，对因会计政策 
变更所涉及的有关交易和事项进行追溯调整，以追溯调整后的结果作为首次执行日的余额， 
以保障首次执行日相关项目余额在新会计准则和国际财务报告准则下的衔接。 
目前本集团正在继续评价执行新会计准则对本集团财务状况、经营成果和现金流量所产 
生的影响。在对其进行慎重考虑并参照财政部对新会计准则的进一步解释后，本集团在编制 
2007 年度财务报告时可能对编制“新旧会计准则合并股东权益差异调节表”(以下简称“差 
异调节表”)时所采用相关会计政策或重要认定进行调整，从而可能导致差异调节表中所列报 
的 2007 年 1 月 1 日合并股东权益(新会计准则)与 2007 年度财务报告中所列报的相应数据之 
间存在差异。 单位：(人民币百万元) 
项目名称 金额 注释 
2006 年 12 月 31 日集团股东权益(旧会计准则) 388,254 1 
追溯调整 
投资性房地产以公允价值计量 3,318 2 
计提内退员工内退期间的工资及福利义务 (5,316) 3 
权益性投资分类为可供出售证券并以公允价值计量 2,550 4 
47 
对非交易性贵金属按成本法计量 (791) 5 
递延所得税(包括上述调整的递延税影响) (286) 6 
其他 3 
差异调整小计 (489) 
少数股东权益余额并入集团股东权益列示 29,560 7 
2007 年 1 月 1 日集团股东权益(新会计准则) 417,325 
1、2006 年 12 月 31 日集团股东权益 (现行会计准则) 的金额摘自本集团按照企业会计 
准则、《金融企业会计制度》 及其他适用于本集团进行会计核算和处理的有关规定 (以下简 
称“现行会计准则”) 编制的 2006 年度会计报表。上述 2006 年度会计报表业经普华永道中 
天会计师事务所有限公司审计，并于 2007 年 3 月 22 日签发了普华永道中天审字(2007)10826 
号的无保留意见审计报告。 
2、在现行会计准则下，投资性房地产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《企业会计准则第 3 号—投资性房地产》的规定，本集团对投资性房地产在 
资产负债表日按照公允价值计量。 
3、根据财政部要求，本集团对早于法定退休年龄的员工(“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)在现行会计准则下按照收付 
实现制进行核算。根据《企业会计制度第 9 号—职工薪酬》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。 
4、本集团持有的不存在控制、共同控制、重大影响的长期股权投资，按照《企业会计准 
则第 22 号—金融工具确认和计量》的规定，该等股权投资被分类到可供出售证券，分类为可
48 
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股东权益。 
5、根据中国银行业会计实务，本集团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。参考《企业会计准则—第 1 号存货》的规定，本集团对非交 
易性贵金属以成本法计量。 
6、本集团在新会计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 
暂时性差异采用资产负债表债务法计提递延税项。在现行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。在新会计准则下，本集 
团将计入权益的可供出售证券公允价值估计变动所带来的递延所得税影响进行确认并计入权 
益。 
该项目亦包括上述调整的递延税影响。 
7、在新会计准则下，少数股东权益是股东权益的一部分，不再在负债之后权益之前单独 
列示。 
上述新旧会计准则集团股东权益差异调节表经普华永道中天会计师事务所有限公司审 
阅，并发表了标准无保留意见审阅报告。 
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按照监管要求披露的其他相关数据 
根据中国证券业监督管理委员会《公开发行证券的公司信息披露内容与格 
式准则第2号——年度报告的内容与格式(2005年修订)》（证监公司字 
[2005]141号）的要求编制 
主要会计数据 
单位：百万元人民币 
2006年 2005年 本年比上年增减 2004年 
主营业务收入 242,192 190,894 51,298 155,446 
利润总额 67,009 55,140 11,869 34,576 
净利润 41,892 27,492 14,400 20,932 
扣除非经常性 
损益的净利润 
39,822 26,174 13,648 20,310 
经营活动产生 
的现金流量净额 
27,908 13,883 14,280 (100,738) 
2006年末 2005年末 
本年末比上年末增 
减(%) 
2004年末 
总资产 5,325,273 4,742,806 12.28% 4,270,443 
股东权益 
(不含少数股东权益) 
388,254 233,842 66.03% 205,351 
主营业务收入＝利息收入＋手续费及佣金收入＋净交易(损失)/收入＋投资收益/(损失)＋其他业务收入 
主要财务指标 
2006年 2005年 本年比上年增减 2004年 
每股收益(元) 0.17 0.13 0.04 0.11 
净资产收益率(%) 10.79 11.76 -0.97 10.19 
净利润(百万元) 41,892 27,492 14,400 20,932 
扣除非经常性损益 
的净利润为基础计算的 
净资产收益率(%) 
10.26 11.19 -0.93 9.89 
每股经营活动产生 
的现金流量净额(元) 
0.11 0.07 0.04 -0.54 
2006年末 2005年末 
本年末比上年末增 
减(%) 
2004年末 
每股净资产(元) 1.53 1.12 36.61 1.10 
调整后每股净资产(元) 1.52 1.11 36.94 1.09 
注：每股收益为全面摊薄数据； 
净资产收益率为全面摊薄数据； 
扣除非经常性损益的净利润为基础计算的净资产收益率为全面摊薄数据； 
计算每股经营活动产生的现金流量净额、每股净资产和调整后每股净资产时均采用期末股份总数。 

50 
根据中国证券业监督管理委员会《公开发行证券的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与披露》（证监发[2001]11号） 
的要求编制 
净资产收益率(%) 每股收益(元) 
项 目 
报告期利润 
(百万元) 全面摊薄 加权平均 全面摊薄 加权平均 
主营业务利润 77,552 19.97% 24.28% 0.31 0.33 
营业利润 77,552 19.97% 24.28% 0.31 0.33 
净利润 41,892 10.79% 13.11% 0.17 0.18 
扣除非经常性损益后的净利润 39,822 10.26% 12.46% 0.16 0.17 
业务回顾 
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 1,500 家国外代理行及 47,000 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，本行在国内市场保持着独特的竞争优势。 
下表列示本行各主要业务营业利润 
单位:百万元人民币（百分比除外） 
2006 年 2005 年 2004 年 
金额 占比 金额 占比 金额 占比 
商业银行业务 73,649 94.97% 63,219 97.64% 56,243 97.24% 
投资银行业务 1,301 1.68% 321 0.50% 324 0.56% 
保险业务 539 0.70% 291 0.45% 302 0.52% 
其他业务 1,418 1.83% -21 -0.03% 972 1.68% 
抵销 645 0.82% 934 1.44% - 0.00% 
合计 77,552 100.00% 64,744 100.00% 57,841 100.00% 

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商业银行业务 
商业银行业务是本行的传统主营业务，包括公司金融业务、个人金融业务和资金业务。 
下表列示各主要商业银行业务所示期间的营业利润。 
单位:百万元人民币（百分比除外） 
2006 年 2005 年 2006 年较 2005 年 
金额 占比 金额 占比 增长额 增长率 
公司金融业务 43,313 58.81% 41,248 65.25% 2,065 5.00% 
个人金融业务 17,694 24.02% 12,493 19.76% 5,201 41.63% 
资金业务 12,642 17.17% 9,478 14.99% 3,164 33.38% 
总 额 73,649 100.00% 63,219 100.00% 10,430 16.50% 
公司金融业务 
经营范围与战略定位 
本行向公司客户（包括国有企业、民营企业、外资企业、金融机构和政府机构）提供包 
括贷款、票据贴现、贸易融资、存款、结算、清算、现金管理等各项金融产品和度身定制的 
财务综合解决方案。本行实行重点服务大型优质公司客户的发展战略，关注于发展与大型优 
质客户的长期合作关系。截至 2006 年末，本行与 41,000 多家公司客户保持信贷业务关系， 
拥有 1,500 多家集团金融机构客户。同时，本行有选择地寻求中小客户的商机，已于年内在 
“长三角”地区的 11 个城市推出全新的小企业服务。 
机遇与挑战 
2006 年，宏观调控政策对产能过剩等行业投资的抑制作用逐步显现；银行同业间以产品、 
服务、价格为核心的竞争更为激烈。本行顺应国家宏观调控政策，主动调整客户结构；积极 
扩展重点客户群，落实差别化的关系管理与服务政策，营销和贷款投放均取得明显成效；以 
全球统一授信为载体，扩大与海外分行的业务合作，提高了对境外开展业务客户的全球服务
52 
能力；与中银国际、中银投资、中银保险等成功联动营销数十个项目，提高了为重点客户提 
供全方位综合服务的能力；支持产品创新和组合，进一步满足客户复杂的金融产品需求，提 
高了本行竞争实力；制订公司金融业务培训规划，建立专业的客户经理和产品经理团队；加 
强贷后管理并推广客户管理系统，公司授信资产质量持续提高。 
业务经营 
2006 年，公司金融业务整体的税前利润（抵销前）为集团贡献 323 亿元，较 2005 年增 
长 11.6%，税前平均资产收益率达 1.87%。 
单位：百万元人民币 
2006 年 2005 年 2006 年较 2005 年 
增长额 增长率 
净利息收入 55,416 51,124 4,292 8.40% 
非利息收入 10,742 9,604 1,138 11.85% 
业务及管理费 -19,695 -16,468 -3,227 19.60% 
资产减值(损失)/回拨 -11,166 -12,529 1,363 -10.88% 
营业利润 43,313 41,248 2,065 5.01% 
税前利润 32,298 28,941 3,357 11.60% 
分部资产 1,797,363 1,658,718 138,645 8.36% 
存款业务 
伴随中国经济快速成长，本行积极调整存款币种结构，加强人民币公司存款营销。截至 
2006 年末，中国内地分行人民币公司存款余额为 11,608 亿元，较上年末新增 1,654 亿元，
53 
增速为 16.6%，在全部金融市场中的市场份额为 7.7%，本行努力维持外汇业务的优势，大力 
拓展外汇存款业务。截至 2006 年末，中国内地分行外汇公司存款余额为 167.20 亿美元，较 
年初降低 2.04 亿美元，继续保持市场领先地位。截至 2006 年末，本行境外机构公司存款余 
额折合人民币合计 2,394 亿元，较年初新增 172 亿元，增速为 7.7%。 
贷款业务 
本行通过优化审批流程、给予灵活的价格授权等措施，促进了重点客户的营销工作，公 
司授信的客户、行业及期限结构得以优化，资产质量持续改善。截至 2006 年末，中国内地 
分行人民币公司贷款余额为 12,451 亿元，较年初新增 1,490 亿元，增速为 13.59%；在全部 
金融机构中的市场份额为 6.3%。外汇贷款业务主要受到外汇利率走高及转贷款到期还款等因 
素的影响，截至 2006 年末，中国内地分行外汇公司贷款余额为 383.52 亿美元，较年初下降 
17.78 亿美元，在全部金融机构中的市场份额为 29.12%，继续保持市场领先地位。截至 2006 
年末，本行境外机构公司贷款余额折合人民币合计 3,046 亿元，较年初新增 126 亿元，增速 
为 4.32%。 
金融机构业务 
本行与各类金融机构的业务合作范围涵盖本外币存款、本外币清算、托管、基金代销、 
理财业务、保险兼业代理、证券及期货结算、债券分销、代理银行同业的结算/清算/外币现 
钞以及代理行委托结算业务等品种，并注重加强与金融机构的全面合作，通过互荐客户、资 
源共享、共同开发新产品等共同为客户提供更加全面的服务。 
本行注重优化存款业务结构，主动压缩成本较高的人民币协议存款。截至 2006 年末，
54 
中国内地分行人民币金融机构活期及定期存款余额为 1,341 亿元，比上年末减少 73 亿。外币 
金融机构活期及定期存款余额为 100 亿美元，比上年末增加 14 亿美元。 
本行亦通过纽约、法兰克福和东京分行进行美元、欧元和日元清算，上述分行和新加坡 
分行均为当地一级清算银行。本行于年内努力提高服务质量，发挥海内外联动优势，美元、 
欧元、日元清算业务均创历史新高。以清算额计算，本行纽约分行居纽约清算所银行间付款 
系统第 11 位，东京分行居日元清算系统第 10 位。 
国际结算及贸易融资业务 
国际结算和贸易融资业务是本行的传统优势之一，主要包括贸易结算、非贸易结算、贸 
易融资、保函、保理等产品。本行充分把握国际和国内经济贸易发展有利时机，促进国际结 
算业务快速发展。中国内地分行全年实现国际结算中间业务收入 68.83 亿元。 
国际结算方面，截至 2006 年末，中国内地分行实现国际结算（包括国际贸易结算和国 
际非贸易结算，下同）5,880.45 亿美元，同比增长 12.04％。其中，国际贸易结算 4,928.48 
亿美元，同比增长 19.22％；按国家外汇管理局 2006 年末数据，本行国际贸易结算市场份额 
为 31.13％，继续保持领先地位。 
集团国际结算业务统计数据 单位：万美元 
2006 年 12 月 31 日 2005 年 12 月 31 日 
贸易结算 49,284,757 41,338,326 
非中国内地机构 非贸易结算 9,519,777 11,147,464 
小计 58,804,534 52,485,790 
境外机构 贸易及非贸易结算 34,335,805 28,323,331 
中银集团 合计 93,140,339 80,809,121 
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贸易融资方面，本行克服外汇利率不断攀升的不利因素，实现了外汇贸易融资业务稳定 
增长，截至 2006 年末，中国内地分行叙做外汇贸易融资业务 270.89 亿美元，同比增长 2.90%。 
本行抓住国内贸易大发展的良机，实现人民币贸易融资业务倍增发展，全年叙做人民币贸易 
融资业务 445.52 亿元，同比增长 166.65%。 
保函业务方面，本行积极把握国际和国内经济发展契机，巩固和提高本行在保函业务领 
域的优势，促进各项保函业务实现了快速发展。2006 年，中国内地分行叙做外汇保函业务 
127 亿美元，同比增长 80.59%；人民币保函业务量为 732.34 亿元人民币，同比增长 90.97%。 
保理业务方面，截至 2006 年末，中国内地分行共叙做国际保理业务 56.45 亿美元，同 
比增长 19.75%；叙做国内保理业务 343.14 亿元，同比增长 163.62%。本行于年内当选为国 
际保理商联合会执行委员会成员，此为该机构首次吸收中国保理商担任这一职务，进一步提 
升了本行在保理业务领域的国际影响力。 
本行境外机构国际结算及贸易融资业务取得了持续快速增长。2006 年，本行境外机构办 
理国际贸易结算及非贸易国际结算业务共计 3,433.58 亿美元，同比增长 21.23%；办理贸易 
融资业务 432.19 亿美元，同比增长 26.57%。 
其他公司金融中间业务 
本行提供广泛的公司中间业务产品和服务，除国际结算产品外，还包括国内结算、金融 
机构服务、授信服务和企业网银等服务及跨境外汇清算业务。 
国内结算业务主要包括银行汇票、本票、支票、汇兑、托收承付、银行承兑汇票及国内 
信用证等。2006 年，中国内地分行实现国内结算收入 8.5 亿元，比 2005 年增长 31.0%。 
授信相关服务主要包括转贷款安排、银团贷款牵头、委托贷款、代理政策性银行贷款以
56 
及企业财务顾问等业务。2006 年，本行牵头和参与了境内外数十项银团贷款项目。截至 2006 
年 12 月末，中国内地分行实现授信服务类中间业务收入 4.26 亿元，比 2005 年增长 43.92%。 
本行利用企业网上银行平台，向客户提供现金管理服务，包括账户服务、人民币收付款 
服务、结算和清算、应收账款集中管理及流动性管理等服务，并向集团公司提供外汇资金归 
集与管理服务。2006 年，本行企业网上银行交易额突破 10 万亿元，服务范围扩展到 9 家海 
外分行，进一步提升了对寻求境外发展客户的全球业务支持能力。 
业务创新 
2006 年，本行制订了《公司业务产品创新与管理工作指引》，建立了公司产品管理的信 
息平台，编写《公司业务产品手册》，促进了公司产品的规范化、标准化运用。全行重点研发 
了循环贷款、经销商融资票货通、应收账款转让、资产支持贷款、权益性信托、外汇委托贷 
款等新产品。财务顾问业务成为新的增长点，中国内地分行开展了企业财务顾问业务。与战 
略投资者合作开展了多个结构化融资项目，进一步提高了本行高端业务服务能力。向证券公 
司推出第三方存管产品，巩固了本行在证券结算市场的地位。 
在贸易融资产品方面，本行在年内相继推出了“出口全益达”、“进口汇利达”、“进口保 
付达”、“融付达”等“达”系列组合产品，在市场中确立和强化了本行的贸易融资品牌；针 
对汇款业务在国际贸易结算中占比不断提高的趋势，本行积极开展“供应链融资”产品的研 
发，目前已率先在国内开展了国内供应链融资业务；本行在国际保理领域首创了“回流型国 
际保理”业务，解决了代理商开展保理业务的技术难题，获得了业内广泛好评。 
2006 年，本行成功收购了新加坡飞机租赁公司，为本行公司金融业务进一步拓宽了发展 
平台。 
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展望 
随着竞争主体更加多元化，金融行业将步入全面竞争时代，2007 年本行将以客户为中心， 
着重完善重点客户服务模式，优化公司金融业务流程；加强总分行、海内外、跨机构的联动 
营销以及跨条线的交叉销售，满足重点客户的全方位服务需求；促进产品创新和推广，完善 
小企业服务模式，进一步奠定本行公司业务未来持续发展的基础。 
个人金融业务 
本行个人金融业务在国际、国内赢得了多项荣誉： 
● 和讯网 2006 年度中国银行业个人房贷杰出服务奖（“理想之家”）；中国银行业杰出 
营销奖（“长城 chinaren 卡”）、中国人民币理财产品最具投资价值奖； 
● visa 国际组织 2006 最佳奥运合作伙伴、2006 最佳收单业务银行； 
●mastercard 国际组织 2006 年度最佳贡献奖（中国区）、2006 年度最佳收单银行奖、 
2006 年度最佳国际卡项目（长城英镑国际卡）、2006 年度最佳分行营销奖（中国银行江苏 
省分行）； 
●中国银联 2006 年度银联业务规范执行先进奖、2006 年度银联标准信用卡发卡卓越 
成就奖、2006 年度银联卡受理方交易杰出贡献奖。 
经营范围与战略定位 
本行为个人客户提供一系列个人或家庭银行产品及服务，包括储蓄存款、消费信贷、支 
付结算、银行卡和财富管理等。 
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个人金融业务是本行的战略重点之一。本行力图通过加快发展个人金融业务，有效改善 
业务结构和收入结构，增加收益，降低经营风险。本行实行为大众客户提供优质的标准化产 
品及服务、为较富裕客户提供度身定制的差异化服务的经营策略。 
截至2006年末，本行拥有约1.40亿名个人客户，约1.83亿个人人民币存款账户，0.35亿 
个人外币存款账户。 
机遇与挑战 
2006年，政府针对房地产市场和住房信贷出台一系列调控措施，对个人住房贷款业务影 
响较大。资本市场发展活跃，对居民储蓄形成分流，存款波动性加大。人民币持续升值，居 
民持有外汇储蓄的意愿下降，个人结汇增加。央行加息有利于银行吸收人民币储蓄存款，但 
加大了消费贷款客户还款负担，提前还贷增加。 
本行主动应对市场变化。在个人贷款业务上，积极组建专业化营销团队，推行个人贷款 
“直客式”营销模式；继续完善个人贷款集中审批，通过系统升级和流程优化不断提高审批 
效率。通过上述两项创新，本行个人贷款竞争力得到显著提高。本行进一步加快了营业网点 
改造，以实施功能分区、流程重组、服务迁移和建立全新的 kpi 指标体系，提升网点的营销 
能力和服务水平，提高交叉销售率和客户钱包份额。本行加强了产品服务创新，针对较富裕 
客户群体推出一系列差别化服务，发展和巩固了中高端客户基础，有效促进了各项业务持续 
稳定增长。 
业务经营 
2006 年，个人金融业务整体的税前利润（抵销前）为集团贡献 173.5 亿元，较 2005 年 
增长 20.98%，税前平均资产收益率达 2.7%。 
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单位：百万元人民币 
2006 年 2005 年 2006 年较 2005 年 
增长额 增长率 
净利息收入 36,142 31,877 4,265 13.38% 
非利息收入 8,702 5,860 2,842 48.50% 
业务及管理费 -26,188 -24,330 -1,858 7.64% 
资产减值(损失)/回拨 -569 1,434 -2,003 -139.68% 
营业利润 17,694 12,493 5,201 41.63% 
税前利润 17,345 14,337 3,008 20.98% 
分部资产 687,592 603,891 83,701 13.86% 
储蓄存款 截至2006年12月末，中国内地分行人民币储蓄存款余额为16,027.55亿 
元，比上年末增加1,864.29亿元；在全部金融机构中的市场份额约为9.92%。中国内地分行外 
币储蓄存款为304.65亿美元，比上年末减少31.33亿美元。境外机构储蓄存款为折合人民币 
5,782亿元，比上年末增加313亿元人民币。 
个人贷款 截至 2006 年 12 月末，中国内地分行个人贷款余额为 4,436 亿元人民币， 
比上年末增加 636 亿元，其中住房贷款余额为 3,378 亿元人民币，比上年末增加 510 亿元人 
民币。境外机构个人贷款余额折合人民币合计为 1,391 亿元，比上年末减少 39 亿元人民币。 
个人金融业务中间业务 
财富管理 2006年，本行凭借海内外机构联动优势，积极拓展个人财富管理业务， 
中银理财品牌认知度进一步提升。 
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本行积极建设中银理财专属服务渠道，当年新建财富管理中心97家，达到统一标准的理 
财中心总数达297家。本行不断强化理财客户的服务和拓展能力，当年当年新增理财客户20 
万人，理财客户总数超过70万。 
本行致力于提高财富管理专业化服务能力。在中国内地理财中心推出中银理财贵宾客户 
“全国预约服务”，与中银香港、中银国际联合开展“海外财富管理服务”及“财富投资管 
理服务”营销，推出中银理财“海外财富管理服务专柜”业务。 
本行致力于专业化理财队伍建设。组建了中银理财专家顾问团，由本行相关部门、中银 
香港、中银国际、中银国际证券、中银集团保险等20余名专家组成，支持“中银理财”品牌 
推广及客户培育。全行专职理财客户经理达到2,226人，其中有1,007人获得中国金融理财师 
（afp）资格认证，197人获得国际金融理财师（cfp）资格认证。 
银行卡业务 
本行为客户提供种类丰富的银行卡产品及服务，包括单、双币种信用卡、准贷记卡、借 
记卡和代理外卡交易等银行卡服务。于1985年，本行发行了国内第一张银行卡。 
贷记卡 本行提供广泛的信用卡产品，包括双币种信用卡及单币种信用卡。本行信用卡可 
以通过人民币、美元、港元、欧元及日元进行结算。本行于中国内地已发行约 215 万张贷记 
卡。 
中国内地分行贷记卡发卡量 单位：万张 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
中国内地分行贷记卡 
发卡量 
215 135 90 50 
准贷记卡 本行是国内第一家发行准贷记卡的商业银行。本行准贷记卡以“great wall” 
或“长城”为品牌，具备储蓄、转账结算和消费支付等多项功能。截至2006年12月31日，本 
行于国内已发行约721万张准贷记卡。根据发卡量，本行是中国内地最大的准贷记卡发行银
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行，市场份额超过 37 %。 
借记卡 本行借记卡与持卡人银行账户直接勾连。借记卡的持卡人可以通过其借记卡进 
行外汇、黄金、基金、国债及其他证券买卖，同时可以利用借记卡使用电话银行及网上银行 
服务。截至 2006 年 12 月 31 日，本行于中国内地已发行约 9,860 万张借记卡。 
中国内地分行人民币卡直消额 单位：亿元人民币 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
中国内地分行人民币卡 
直消额 
1,478 976 684 409 
商户收单服务 本行通过处理信用卡、准贷记卡和借记卡交易向商户提供结算服务。本 
行是中国内地拥有最广泛的商户网络的银行之一。截至 2006 年 12 月 31 日，本行商户数目 
为 19 万家，实现外卡收单交易额 223 亿元。 
中国内地分行外卡收单交易额 单位：亿元人民币 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
中国内地分行外 
卡收单交易额 
223 191 156 103 
业务创新 
本行关注个人客户在消费和投资经营领域的融资需求，在“理想之家”统一品牌下创新 
推出“易居宝”一手房散户贷款、“安居宝”二手房贷款、“固定利率贷款”、“车贷宝”等具 
有较强市场竞争力的“直客式”贷款产品，在部分经济发达地区开办个人循环贷款，业务量 
增长迅速，效益明显。 
本行注重银行卡产品创新。向市场推出中银都市卡、长城公务卡、中银交大校友认同卡、 
中银北大联名卡、中银金鹰联名卡、中银久光 jcb 联名卡等信用卡，以及长城人保关爱联名 
卡、长城孺子牛联名卡、长城建业联名卡、长城嘉实基金联名卡、长城中海物业联名卡、长
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城中升联名卡等准贷记卡。本行注重培育具有良好成长性的客户群体，有针对性地推出了“长 
城 chinaren”校友卡、“长城花季卡”等借记卡个性化产品。 
本行积极开发新的个人投资理财类产品。推出与海外股市挂钩的投资产品、人民币衍生 
系列理财产品、人民币“搏弈”理财产品以及“中银美元增强型现金管理”qdii产品，与战 
略投资者合作推出了与股票挂钩的外币衍生产品。 
作为2008年北京奥运会银行合作伙伴，本行积极开发与奥运品牌相关的“奥运成长账户”、 
奥运礼仪存单。 
本行积极拓展海外零售业务市场。新加坡、首尔等5家海外分行试办人民币现钞兑换和存 
款业务；增加海外分行人民币预结汇汇款业务币种；在巴黎、伦敦分行发行了借记卡。中银 
香港通过中国内地分行推出期权宝、离岸存款及代理贵金属买卖业务。伦敦分行与苏格兰皇 
家银行集团有限公司（rbs）联合推出赴英留学生业务，纽约分行与citizens开展汇款合作。 
与美国bts公司合作推出“侨汇通”汇入汇款业务。在国内首家开办了韩元因私售汇业务。 
展望 
2007年，本行个人金融业务将秉承以客户为中心的服务宗旨，着力改善经营方式，完善 
服务模式，优化业务流程，积极拓展和培育较富裕客户群体，加强产品交叉销售和联动营销， 
全面提升产品创新、市场营销、网点服务核心竞争能力。本行将通过深化与境外战略投资者 
在产品、服务、人才培养等方面的合作，加速提升个人金融业务创新能力，加快私人银行和 
财富管理领域的开发和拓展。本行还将制定和实施个人金融业务人才规划，加快专业化队伍 
建设，为可持续发展奠定基础。 
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金融市场业务 
业务范围及战略定位 
本行金融市场业务涵盖外汇和贵金属交易，人民币债券交易、短期融资券和票据业务， 
本外币债券投资，金融衍生品和商品期货，本外币理财与资产管理，基金代销和托管等。本 
行主要通过在北京、上海、香港、伦敦及纽约设立的五个交易中心经营资金业务。交易中心 
相互承接头寸和报价，实现每日 24 小时资金业务经营。 
本行金融市场业务发展战略为：坚持本外币业务并重，自营与代客业务并举，提供优良 
的营销和客户服务，巩固在国内金融市场的领导地位；坚持持续的产品创新和风险管理，培 
养优秀的人力资源队伍，形成可持续发展的核心竞争力；实现全球交易投资一体化，争取业 
务量及利润贡献达到国际同业的先进水平，逐步塑造中国银行金融市场业务的良好品牌形象。 
机遇与挑战 
2006 年，受美联储加息步伐不确定的影响，利率市场出现较大波动，美国 10 年期国债 
收益率在大幅上扬后又发生了大幅回调；各主要货币则基本保持区间运行，未出现大的行情， 
波动率持续走低，市场环境对本行外币资金业务经营较为不利。 
同时，中国内地紧缩政策频频，债券市场价格走势整体较为低迷，人民币债券市场整体 
收益率呈上行趋势，债券收益率较年初上升较多，收益率曲线呈现出明显的平坦化趋势，本 
行人民币资金业务也面临着不利的市场环境。 
但是，2006 年股票市场始终处于强劲状态，基金产品销售亦保持上升状态，本行代销
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的基金产品以手续费率最高的股票型或偏股型基金为主，基金业务市场环境较 2005 年大幅 
转好，代销量创历史记录。 
面对不利的市场条件，本行通过深入研究分析市场，严格遵守投资指引，在有效防范风 
险的前提下努力捕捉市场时机，在不利的市场环境中取得了较好的利润回报。 
业务经营 
2006 年，资金业务整体的税前利润（抵销前）为集团贡献 128 亿元，较 2005 年增长 32.5%， 
税前平均资产收益率为 0.5%。 
单位：百万元人民币 
2006 年 2005 年 2006 年较 2005 年 
增长额 增长率 
净利息收入 29,861 18,055 11,806 65.39% 
非利息收入 -8,531 -2,296 -6,235 271.56% 
业务及管理费 -6,398 -4,583 -1,815 39.60% 
资产减值(损失)/回拨 9 -5 14 -280% 
营业利润 12,642 9,478 3,164 33.38% 
税前利润 12,774 9,642 3,132 32.48% 
分部资产 2,727,735 2,399,377 328,358 13.69% 
本外币投资 本行本外币投资主要包括外币投资和本币投资。 
外币投资 本行外币投资方向主要包括政府债券、机构债券、公司债券、银行债券、新 
兴市场债券、住房按揭抵押债券（mbs）、资产支持债券（abs）、抵押债务债券（cdo）、
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货币市场资金拆放等。本行投资的外币证券一般获得较高的信用评级，其中 aaa 级以上的债 
券占比 74.9%，本行亦通过远期、期权、掉期及其他衍生工具交易以对冲本行承担的风险或 
实现本行的投资目标。2006 年，本行积极利用上市筹集的资金，投资于流动性好且收益较高 
的资产类别，如按揭抵押债券、评级相对较高的公司债券，以及灵活度较高、利于增强投资 
总体回报的长期投资组合。同时，本行对部分收益率水平偏低的债券进行处置，降低了持有 
到期类投资所占比重，增强了流动性，改善了整个账户的估值情况。本行外币债券投资久期 
在下半年有较大幅度的下降，年末为 2.039。 
本币投资 本行本币投资证券主要包括中国国债、中国政策性银行所发行的金融债券、 
人民银行发行的票据、以及中国商业银行发行的债券。2006 年，中国内地债券市场收益率曲 
线呈现了明显的扁平化的趋势。年末，本行本币投资组合总规模超过 4,000 亿元，修正久期 
降至 2.16，有效地降低了利率风险。在综合考虑风险及收益的前提下，本行于年内加大了对 
央票及政策性金融债券的持有量，收益稳中有升。 
自营交易 本行自营交易包括外币自营交易和本币自营交易。 
外币自营交易 
本行充分履行中国内地银行间外汇市场做市商义务，交易量稳居市场第一，同时积极提 
供市场流动性，截至 12 月末，本行在银行间外汇市场交易笔数达到 17,210 笔，较去年同期 
增长约 70 倍，呈显著增长。本行积极参与国际黄金市场交易，在获取业务盈利基础上继续 
保持在国内的领先地位并扩大了在国际市场的影响力。 
在不利的市场条件下，本行积极探索把握各货币的波动区间，通过不同交易平台和工具
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的灵活运用，提高盈利能力。与此同时，本行积极参与国际黄金等贵金属交易，黄金交易量 
达 600 吨，扩大了在国际市场的影响力。在衍生产品报价业务方面，本行始终保持在美元利 
率掉期报价业务方面的传统优势。人民币利率掉期业务是 2006 年人民银行新试点的业务， 
截至 2006 年 12 月末，本行人民币利率掉期市场份额位列第二。 
金融市场业务发展趋势 
交易量 2006 年 2005 年 
结售汇交易量（十亿美元） 347 308 
上海金交所黄金交易量（吨） 240 160 
外汇期权交易量（亿美元） 440 352 
本币自营交易 通过对市场的准确研究及判断、积极的市场参与以及紧随市场节奏的波 
段操作，本行本币自营交易量有大幅度增长，截至 2006 年 12 月 31 日，现券自营交易量为 
7,302 亿元，比去年同期增长 38%；现券交易笔数为 8,965 笔，同比增长 26%，领先于其他 
同业，继续稳居市场第一。年内同业人民币掉期业务的市场占有率接近 50%。2006 年，本行 
继续保持在中国内地黄金交易中的领先地位，截至 2006 年 12 月 31 日，本行在中国内地唯 
一的黄金交易所——上海黄金交易所的市场份额由 2005 年 33.86%上升至 36.79%，黄金交 
易量继续稳居上海黄金交易所第一位。 
代客资金业务和债务市场业务 本行代客资金业务包括对公、对私业务两大类。 
对公代客业务主要包括代客外汇资金管理（主要是债务保值）、以及为客户提供的“四 
季远期”、“信用花园”、人民币结构性理财产品等。本行代客资金业务的发展模式及产品
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设计在 2006 年步入了新阶段。各项业务增长态势良好。代客债务保值业务总量 30 亿美元， 
保有市场最大份额。本行在积极营销的同时，加大创新力度，努力寻求代客业务新的利润增 
长点。其中“信用花园”成交金额 3,000 万美元，发展迅速。 
对私业务中的外汇理财业务主要包括“汇聚宝”、“两得宝”、“期权宝”、“个人外 
汇期权”、“春夏秋冬”等，属于本行传统优势业务，该项业务于 2006 年继续稳步发展。 
其中，“博弈”理财产品已起息资金总共约为 54 亿元人民币。 
本行通过在国际及中国内地市场发行本币及外币债券，以及安排银团贷款、为本行及本 
行的公司客户提供融资服务。2006 年，本行积极参与中国内地银行间债券市场票据发行及承 
销业务。截至 12 月 31 日，共计发行短期融资券 22 支，发行金额 166 亿元，参团承销短期 
融资券 197 支，总承销量 510.4 亿元。 
基金代销和托管 2006 年本行在保持并巩固托管客户的基础上，进一步扩大托管资 
产规模；企业年金托管业务、金融机构资产证券化资金保管业务也取得新的突破，进一步巩 
固并提升了本行资产托管业务的市场地位和形象。2006 年末，本行托管资产总净值突破 3,000 
亿元大关，达到约 3,428 亿元，比 2005 年末翻一番。 
业务创新 
新产品的开发和报价能力是本行主要竞争优势之一。受国际、国内资本市场持续活跃的 
影响，本行结售汇业务、本外币理财等业务业绩表现突出。2006 年，本行充分利用在外汇资 
金业务方面的传统优势，将外汇业务经验运用到人民币业务领域，设计了规范的委托理财业 
务模式，以及“中银增值理财计划”的系列产品理念，完成了资产支持理财计划、信托理财、 
票据理财、迷你债券等一系列新产品开发。面对激烈的市场竞争，成功的设计并相继推出了
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“信用花园”外汇理财、“博弈”人民币理财产品，并于中国内地率先推出了与股票挂钩的“红 
筹港股高低杠”，以及与原油挂钩的“桶桶金”理财产品，为投资者提供了较高的投资回报。 
年内，本行在和讯网财经风云榜行业测评中获得“理财产品测评最具投资价值奖（人民币）”， 
体现了本行人民币理财产品的实力。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“国内最佳理财品牌”称号。年内，本行被选为首批 16 
家 shibor 报价行之一，并成功叙做第一笔一年期拆借交易。 
展望 
2007 年，宏观经济环境和监管政策的导向为本行金融市场业务提供了广阔的发展空间 
的同时，亦带来了新的挑战，外资银行凭借技术、经验及营销手段等优势，使金融市场业务 
领域面临更加激烈的市场竞争。本行将进一步扩大金融市场业务的发展空间，努力争取人民 
币衍生产品业务的市场先机，加强本外币投资资产组合管理，充分利用与战略投资者的合作 
机会，顺应国际同业的发展趋势及本行在该业务领域的比较竞争优势，力争在同业竞争中继 
续保持领先地位。 
中银香港业务 
本行通过属下子公司中银香港在香港经营商业银行业务。中银香港为香港当地持牌银行 
之一，本行持有其 65.87%的股权。以资产和利润贡献计算，中银香港是本行最强大的海外经 
营实体。截至 2006 年 12 月 31 日，中银香港总资产达到 9,227.7 亿元人民币。年内中银香 
港实现净利润（扣除少数股东损益后）折合人民币 91.15 亿元。中银香港直接控股公司中银 
香港控股于 2002 年 7 月起在香港交易所主板上市。 
中银香港是香港三家发钞银行之一，通过其广泛的服务网络向企业客户和个人客户提供 
全面的金融产品与服务。截至 2006 年 12 月末，中银香港拥有分行共 302 家，其中在香港的
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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 445 部。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，中银香港确立了未来五年的战略重点：巩固在香港市场的领先地位，加强产品 
制造和分销方面的新业务能力，建立更稳固的内地业务，寻求区域性的扩张机会，以及提升 
企业价值与核心优势。 
业务经营 
2006 年，得益于香港经济持续高增长及金融市场的活跃，中银香港盈利表现理想，不 
考虑汇率因素，该公司提取准备前经营利润及股东应占利润均创 2001 年重组以来的最高位。 
净利息收入及净利息收益率明显上升，非利息收入稳定增长，尤以投资及保险业务表现突出。 
中银香港净利润占集团净利润比例 单位：百万元人民币（百分比除外） 
2006 年 2005 年 增长额/增长率 
净利润 9,115 8,803 312 
占集团净利润比例 21.76% 32.02% -10.26% 
注：净利润为扣除少数股东损益后口径 
2006 年，中银香港在控制资金成本的环境下积极吸存，为满足客户多方面的需求，进行 
了针对性的产品推广，低无息存款得以上升，结构更趋优化。在注重风险效益的基础上，确 
立了中小企业业务的发展模式，理顺工作流程及提高对客户服务效率，推出了一系列具有竞 
争力及多元化的产品组合。中小企业贷款余额在年内呈现双位数的增长。中银香港继续保持 
银团贷款业务优势，在内地-香港-澳门银团贷款市场位居第一名，市场占有率为 9.3%。 
中银香港于 2003 年底获中国人民银行委任为香港人民币业务的清算行，并在 2007 年 1 
月获授权续任。自 2004 年 2 月在香港陆续推出各项人民币银行服务以来，一直保持其在香 
港人民币业务的市场领导地位，在各类人民币业务领域持续取得理想的成绩。在香港的人民
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币存款在 2006 年上升 1.8%，人民币信用卡发卡业务取得 22.7%的增长。2006 年 3 月，同期 
的推出人民币个人支票服务，为客户提供了更加灵活便捷的消费新模式。 
与母行的业务合作及运营互补 
鉴于中国内地经济强大且不断发展所带来的大量商机，本行与中银香港共同致力于增加 
在中国内地银行业市场的合并市场份额。本行相信中银香港的业务战略与本行的业务相辅相 
成。 
中银香港在香港拥有广泛的网络及分行，可以让本行为需要在香港使用银行服务的中国 
内地客户提供更好的服务。另一方面，本行超过 11,000 家分行的网络遍布中国内地，亦能为 
中银香港的香港客户提供便利的内地银行服务。中银香港与本行在公司金融业务、零售业务 
及资金业务方面的合作与优势互补，提升了中银集团的整体市场地位。 
中银香港在中国内地拥有 14 家分支行，主要集中于长江及珠江三角洲一带及若干主要沿 
海城市。这些内地分行的竞争优势是，可以为香港客户和中国内地客户提供跨境银行服务。 
2007 年，中银香港推出了“双线并进”的内地业务策略。通过其旗下南洋商业银行有限 
公司（“南商”）向内地监管当局提交在内地注册当地法人银行的申请，准备在内地发展全面 
银行业务，侧重零售银行业务；中银香港的内地分行继续以现有外资银行分行的模式，重点 
发展在内地的企业银行和外汇业务；中银香港另一子公司集友银行有限公司（“集友”）同样 
保留外资银行分行的身份，继续在内地的现有经营。 
展望 
在业务发展策略上，中银香港将在继续扩大其在企业及零售业务等传统商业银行业务市 
场的份额，逐步完善及扩展业务平台，全面提升金融产品创新及开发能力，充分利用与母行 
的合作协同效应，创造长期持续的理想资本回报率及股东效益最大化。 
（读者欲进一步了解中银香港的经营业绩及相关情况，请阅读同期中银香港年度报告。） 
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投资银行业务 
本行通过中银国际控股集团经营投资银行业务。中银国际于 1998 年 7 月 10 日在香港注 
册成立，目前已建立起符合行业最佳规范的国际化投资银行架构，在纽约、伦敦、香港、新 
加坡等国际金融中心设有分支机构，在北京、上海、广州、重庆等中国沿海和内地中心城市 
建立了销售网络。中银国际拥有高水准的专业人才队伍，强大的机构销售和零售网络，全球 
性的管理运作，可为海内外客户提供包括企业融资、收购兼并、财务顾问、证券销售、定息 
收益、衍生产品、资产管理、直接投资等的全方位投资银行服务。 
2006 年，中银国际确立了“根植中国，面向世界，跨境服务”的战略选择，完善公司治 
理机制，巩固传统业务，推行创新理念，积极塑造“客户第一、恪守诚信、团队精神、积极 
进取、富于创新”的新型国际投资银行文化，持续提升核心竞争力。 
业务经营 
截至 2006 年 12 月 31 日，中银国际实现税后利润总额 11.4 亿港元，同比增长 293%。 
承销及财务顾问 2006 年，中银国际以主承销商或联席主承销商的身份参与了包括中 
国银行 h 股等 7 个 ipo 上市项目，总承销金额约占 12.2%的香港上市市场份额。 
国内业务 中银国际致力于利用其对投资银行业务的专业知识及在中国市场的广泛网 
络，进一步扩展其在中国的财务顾问业务，并在 2006 年完成了多个国内大型金融机构及企 
业的私募及收购合并项目。 
证券销售及交易 2006 年，香港与内地资本市场活跃，中银国际在香港股票一级和二 
级市场的销售业务均获得了大幅度的增长，港股零售交易市场份额较 2005 年增长了 20%。 
资产管理 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，包括香港强制性公积金计划（“强积金”）、退休金计划、零售单位委
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托及机构授权合约。截至 2006 年末，中银保诚资产管理公司管理的总资产额（包括强积金） 
为 287.3 亿港元，年增长率为 12.7%，以管理资产金额计算，中银保诚约占市场额 8%左右。 
投资研究 中银国际拥有一支活跃于国际资本市场的研究队伍，其研究实力和研究产品 
受到国内外客户的广泛重视与好评，在投资银行中拥有覆盖面最广的深度跨境研究能力。 
直接投资 2006 年，中银国际投资参股了渤海产业投资基金管理有限公司，负责渤海 
产业投资基金的管理和运营。渤海产业投资基金总规模为人民币 200 亿元。渤海产业投资基 
金的设立标志着中国金融体制改革的一项重大突破，同时为中银国际直接投资基金业务奠定 
了坚实的基础，开启了中国人民币产业投资基金先河。 
2007 年，依托中国银行全球化、多元化的业务平台，中银国际将扎根于中国本土市场， 
并在国际资本市场中不断发展壮大，致力于为客户提供高品质、全方位、专业化、规范化、 
个性化的金融服务及产品，为客户创造价值。 
保险业务 
本行通过全资子公司中银集团保险经营保险业务。中银集团保险从事的保险业务范围包 
括：财产损失保险、责任保险、信用保险和保证保险、短期健康保险和意外伤害保险及上述 
业务的再保险业务。中银集团保险通过六家分公司、三家全资子公司（中银保险有限公司、 
东亮保险专业有限公司及堡宜投资有限公司）及三家联营公司（中银集团人寿保险有限公司、 
联丰亨保险有限公司及东风标致雪铁龙汽车金融有限公司）开展业务。 
业务经营 
中银集团保险植根香港十余年，稳健发展其业务，拥有庞大的业务网络，经营险种繁多。 
截至 2006 年 12 月 31 日，中银集团保险的总资产达到 48.74 亿港元。2006 年，中银集团保 
险业务实现毛保费收入 12.1 亿港元；实现税后利润总额 7.6 亿港元，同比增长 99.56%。 
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毛保费收入来源分析 单位：百万港元 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
合 计 1,213 1,266 1,398 
2006 年，中银集团保险在创新产品方面，积极响应香港政府“用者自付”的医疗改革理 
念，针对竞争的市场环境及客户的需求，推出一系列新的医疗保险品种；与此同时，积极配 
合银行开展银保协作的产品，推出学生系列平安保险计划。 
2006 年，中银集团保险向中银香港出售了中银集团人寿 51％的股权，这一举措不仅可 
以充分发挥中银香港在香港地区的网络优势，更可以有效支持“中银理财”客户服务。 
国内业务 
配合中银集团的保险业务战略，作为中银集团发展其中国内地保险业务的举措之一，中 
银集团保险于内地设立了中银集团的全资子公司—中银保险有限公司。目前该公司于国内共 
设立四家分公司。2006 年，该公司以打造技术领先、服务最好的保险品牌，成为中国一流的 
保险公司为经营理念，全年累计实现毛保费收入 12,581.09 万元，比去年增加 6,157.48 万元， 
增长 95.86%。 
2007 年，国内保险市场竞争主体日益增加，竞争日趋激烈。中银保险有限公司将乘势而 
上，大力加快业务发展，提升业务风险控制能力、运营支持能力和效率，搭建高效的服务体 
系，满足业务发展及竞争的需求，在国内保险市场占得先机。 
展望 
面对激烈竞争的保险市场，中银集团保险将在巩固传统业务中开拓新的发展渠道，提升 
服务水平及专业技能，进一步向海外拓展扩充其业务市场。并通过中银保险有限公司将业务 
网络扩展至本行设有网络的内地主要城市。 

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中银投资业务 
本行通过全资子公司中银集团投资有限公司（以下简称“中银投”）从事直接投资和投资 
管理业务。中银投于 1984 年在香港注册成立，作为中银集团唯一的专业投资管理公司，以 
服务中国银行整体发展战略为首要职责，其业务范围包括企业股权投资、不良资产投资、不 
动产投资、管理与租赁以及物业管理等四大业务板块。 
业务经营 
截至 2006 年 12 月 31 日，中银投的总资产达到 422.89 亿港元。报告期内实现税后盈利 
14.9 亿港元，同比增长 38%。 
2006 年，中银投积极拓展各项主营业务，并开辟与投资银行、专业基金、资产管理公司、 
内地政府部门及战略合作伙伴等在相关业务领域的合作，取得了实质成效。与此同时，中银 
投不断开拓创新，尝试以新的模式作为业务发展扩大的基础。 
年内，中银投参与发起组建中国第一支契约型人民币产业投资基金-渤海产业投资基金， 
有助于中银集团与成长期的优质企业建立密切的战略合作关系，巩固并加强中银集团的核心 
竞争力。 
2006 年，中银投配合本行多元化业务发展战略，利用其在开曼注册的全资附属公司 sky 
splendor 成功收购了新加坡飞机租赁公司，为本行进入飞机租赁领域提供了一个坚实平 
台。以此平台，本行不但可以为航空公司提供经营性租赁、飞机资产管理和结构性融资，还 
可以带动本行在航空领域信贷业务、中间业务、投资银行业务和保险业务的发展，实现协同 
效应，突出与他行的差异性，使本行国际化、全球化、多元化的业务经营特点进一步增强。 
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展望 
2007 年，中银投将努力成为具有合适资产规模、合理的投资组合、较高资金流动性、较 
强盈利能力、稳定的投资回报的成长型公司，成为本行海外多元化业务发展中重要的效益来 
源。 

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风险管理 
综述 2006 年，本行进一步完善风险管理体系，提高风险管理实力和能力，推进风 
险管理的独立性、集中化、专业化水平。 
本行遵循“适中型”的风险偏好，并按照“理性、稳健、审慎”的原则处理风险和收益 
的关系。本行风险管理的目标是在满足监管部门、存款人和其他利益相关者对银行稳健经营 
要求的前提下，在可接受的风险范围内，实现股东利益的最大化。 
本行的风险管理遵循以下基本原则： 
.. 依法合规：严格遵循法律法规及监管部门的规定和指引，银行合规稳健经营是风险 
管理有效实施的前提。 
.. 风险与收益匹配：通过主动地控制，平衡收益和损失，每类业务活动都应获得至少 
与其所承担风险相匹配的收益。 
.. 实现及维持本行风险管理职能的独立性：风险管理相对独立于业务发展，有独立的 
风险管理机构、人员，以独立的视角，对业务发展中存在的风险进行客观识别、度 
量和控制。 
.. 对负责的雇员进行问责：通过严格的内部控制机制，明确岗位职责分工，清晰权责。 
.. 协调风险管理与业务发展目标：确保风险管理的目标与业务发展的目标相一致，并 
保持统一的风险管理战略和控制策略。 
.. 提供适当披露：银行负有按照监管要求，向监管当局提供风险信息，或向社会公众 
披露的责任。 
通过进一步完善本行的风险管理体系，本行力求达到的目标是：（1）把风险管理框架扩 
展至所有业务部门、分行及子公司；（2）确保有效管理本行多元化业务线中的一切固有风险；
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（3）建立广泛全面的风险管理文化；（4）发展全面综合风险管理程序、政策和步骤；（5） 
使用适当的风险管理工具确认、监控和量化本行风险水平。 
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 
概述 
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。 
2006 年，本行继续完善授信集中审批制度。试点机构授信专业审批工作运作顺畅。一 
级分行 cco 已基本到位，第一批专业审批人已全部聘任到位，并由总行实施对专业审批人 
的授权。为提高重点优质客户的授信审批效率，本行实施重点客户分层管理，建立优质重点 
客户专管尽责员制度，制定《信贷指引》，为优质客户授信审批提供快速通道。为适应业务发 
展要求，本行制定《小企业授信政策指引》和《小企业授信管理办法》，并在部分分行进行试 
点。 
2006 年，本行进一步完善集团客户授信管理。修订出台《中国银行集团客户授信管理办 
法》，推进集团客户与集团成员企业名单梳理和集团信息系统维护，细化集团客户分类管理标 
准，加强集团客户识别管理。加强对具有授信规模较大、资本运作频繁、家族式管理、治理 
机制不健全、信息不透明等特征的潜在高风险集团客户的分析，研究改进此类客户的风险监 
控。 
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2006 年，本行继续通过十级客户评级体系做好公司客户信用评级工作，通过对客户偿 
债能力、获利能力、经营管理指标、历史履约记录、市场前景、发展潜力和财务信息质量等 
因素的分析，形成对客户信用状况的整体评价。全行 a、b 类客户的评级认定全部由总行和 
一级分行完成。2006 年末，本行中国内地机构 a 类客户授信余额占比 45.2％，较年初上升 
3.3 个百分点。本行开发了以违约概率（pd）为基础的公司客户量化评级模型，并完成了模 
型的回溯测试。 
为便于更好地了解和评估本行承担的信用风险，下文将依次描述本行贷款分布情况、贷 
款质量情况和贷款减值损失准备情况。 
贷款分布 
贷款地区集中度 
本行的贷款主要集中在中国内地机构，占贷款总额的 81.75％，境外机构占集团贷款的 18.25 
％。中国内地机构贷款主要投放在华东地区和中南部地区，分别占中国内地机构贷款总额的 41.22 
％和 24.41％。2006 年贷款投放较快的地区是华东地区和中南部地区，分别比上年末增加 996.75 
亿元和 404.16 亿元。 
集团贷款分布 单位:百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
中国内地 
机构 1,988,121 81.75% 1,799,923 80.53% 1,734,302 80.80% 1,746,644 80.96% 
境外机构 443,685 18.25% 435,123 19.47% 412,160 19.20% 410,829 19.04% 
合计 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
注： 2006 年本行从境外机构转入 20.66 亿元减值贷款以及以前年度为该笔贷款所计提的 18.49 亿元贷款 
减值准备。为便于作同口径对比分析，本行在管理层讨论与分析中将该笔贷款进行了还原调整，以下相关披露 
信息均按同样原则调整。 

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中国内地贷款地区结构 
单位:百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
华北地区 348,596 17.53% 322,451 17.91% 313,843 18.10% 352,284 20.17% 
东北地区 135,906 6.84% 131,430 7.30% 128,374 7.40% 138,831 7.95% 
华东地区 819,434 41.22% 719,759 39.99% 679,773 39.19% 621,900 35.61% 
中南部地区 485,285 24.41% 444,869 24.72% 433,860 25.02% 453,863 25.98% 
西部地区 198,900 10.00% 181,414 10.08% 178,452 10.29% 179,766 10.29% 
合计 1,988,121 100.00% 1,799,923 100.00% 1,734,302 100.00% 1,746,644 100.00% 
注 ： 2006 年，为加强不良贷款清收和处置，本行将黑龙江、吉林、辽宁、湖北、陕西、山西和新疆七家中国内地分行合计 126.43 
亿元的不良贷款上收总行管理。为便于进行同口径对比分析，本行在管理层分析与讨论中对上收不良贷款以及已提取贷款减值 
准备做了还原调整，以下相关披露信息均按同样原则调整。 
按行业和产品划分的贷款集中度 
2006 年，国家继续实施宏观调控。本行进一步提高热点行业的授信标准，清查高风险 
行业的授信状况，对存量授信进行重点监控。房地产等受宏观调控影响较大行业授信业务发 
展平稳，行业结构进一步优化，总体资产质量有所改善。 
集团 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
公司贷款 
制造业 602,865 32.61% 531,191 31.02% 523,508 31.68% 558,916 31.51% 
商业、服务业 301,254 16.29% 301,863 17.63% 348,432 21.09% 430,993 24.29% 
房地产 217,960 11.79% 190,297 11.12% 187,110 11.32% 216,734 12.22% 
能源、采矿和农 
业 260,706 14.10% 230,854 13.48% 203,544 12.32% 188,821 10.64% 
运输业 211,786 11.45% 193,428 11.30% 184,449 11.16% 174,669 9.85% 
公用事业 106,141 5.74% 91,924 5.37% 87,731 5.31% 75,465 4.25% 
建筑业 38,897 2.10% 36,050 2.11% 36,059 2.18% 44,548 2.51% 
金融业 72,909 3.94% 96,245 5.62% 46,518 2.82% 48,261 2.72% 
其他 36,544 1.98% 40,191 2.35% 35,070 2.12% 35,673 2.01% 
合计 1,849,062 100.00% 1,712,043 100.00% 1,652,421 100.00% 1,774,080 100.0% 
个人贷款 
住房贷款（按揭 
贷款） 456,930 78.41% 413,007 78.97% 360,595 72.99% 275,303 71.81% 
信用卡 8,458 1.45% 6,785 1.30% 5,973 1.21% 4,944 1.29% 
80 
其他 117,356 20.14% 103,211 19.73% 127,473 25.80% 103,146 26.90% 
合计 582,744 100.00% 523,003 100.00% 494,041 100.00% 383,393 100.00% 
总计 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
中国内地 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
公司贷款 
制造业 555,819 35.99% 490,898 34.57% 497,317 35.96% 528,296 35.39% 
商业、服务业 255,787 16.56% 255,460 17.99% 284,772 20.59% 366,279 24.54% 
房地产 113,589 7.35% 96,390 6.79% 100,932 7.30% 127,368 8.53% 
能源、采矿和农 
业 240,314 15.56% 210,281 14.81% 186,942 13.52% 169,948 11.39% 
运输业 182,398 11.81% 165,396 11.65% 157,762 11.41% 149,580 10.02% 
公用事业 105,933 6.86% 91,924 6.47% 87,731 6.34% 75,465 5.06% 
建筑业 34,676 2.25% 30,089 2.12% 27,938 2.02% 34,539 2.31% 
金融业 53,333 3.45% 77,237 5.44% 32,079 2.32% 36,873 2.47% 
其他 2,692 0.17% 2,290 0.16% 7,484 0.54% 4,277 0.29% 
合计 1,544,541 100.00% 1,419,965 100.00% 1,382,957 100.00% 1,492,625 100.0% 
个人贷款 
住房贷款（按揭 
贷款） 337,834 76.16% 286,829 75.49% 240,640 68.49% 159,314 62.72% 
信用卡 2,876 0.65% 1,929 0.51% 1,441 0.41% 931 0.37% 
其他 102,870 23.19% 91,200 24.00% 109,264 31.10% 93,774 36.91% 
合计 443,580 100.00% 379,958 100.00% 351,345 100.00% 254,019 100.0% 
总计 1,988,121 100.00% 1,799,923 100.00% 1,734,302 100.00% 1,746,644 100.00% 
按货币划分的贷款分布情况 
集团 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
人民币 1,692,980 69.62% 1,477,859 66.12% 1,378,760 64.23% 1,320,889 61.22% 
外币 738,826 30.38% 757,187 33.88% 767,702 35.77% 836,584 38.78% 
合计 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
中国内地 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
人民币 1,688,414 84.93% 1,475,821 81.99% 1,378,343 79.48% 1,320,635 75.61% 
外币 299,707 15.07% 324,102 18.01% 355,959 20.52% 426,009 24.39% 
合计 1,988,121 100.00% 1,799,923 100.00% 1,734,302 100.00% 1,746,644 100.00%
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按担保方式划分的贷款分布情况 
集团贷款按担保方式 
单位：百万元人民币 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
担保方式 金额 占比 金额 占比 金额 占比 金额 占比 
信用贷款 536,080 22.05% 475,764 21.29% 447,800 20.86% 369,632 17.13% 
保证贷款 731,759 30.09% 684,824 30.64% 650,905 30.32% 804,132 37.27% 
抵押、质押贷款 1,163,967 47.86% 1,074,458 48.07% 1,047,757 48.82% 983,709 45.60% 
合计 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
中国内地贷款按担保方式 
单位：百万元人民币 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
担保方式 金额 占比 金额 占比 金额 占比 金额 占比 
信用贷款 432,874 21.77% 368,944 20.50% 364,935 21.04% 290,503 16.63% 
保证贷款 632,985 31.84% 600,323 33.35% 581,996 33.56% 735,849 42.13% 
抵押、质押贷款 922,262 46.39% 830,656 46.15% 787,371 45.40% 720,292 41.24% 
合计 1,988,121 100.00% 1,799,923 100.00% 1,734,302 100.00% 1,746,644 100.00% 
贷款到期情况 
集团 
单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 
剩余期限 金额 占比 金额 占比 
已逾期 87,331 3.59% 77,846 3.48% 
1 年以下（含 1 年） 1,081,992 44.49% 1,177,419 52.68% 
1-5 年（含 5 年） 642,817 26.43% 518,316 23.19% 
5 年以上 619,666 25.49% 461,465 20.65% 
合计 2,431,806 100.00% 2,235,046 100.00% 
在本表中，只有本金为逾期支付下，客户贷款才会被视为逾期。此外，对于须分期偿还的客户贷款，只有实际逾期还款的贷 
款部分会呈报为逾期。贷款中任何未到期的部分则按剩余到期情况呈报。 
中国内地 
单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 
剩余期限 金额 占比 金额 占比 
已逾期 82，548 4.15% 72,837 4.05% 
1 年以下（含 1 年） 953，495 47.96% 1,062,790 59.04% 
1-5 年（含 5 年） 464,060 23.34% 340,366 18.91%
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5 年以上 488,018 24.55% 323,930 18.00% 
合计 1,988,121 100.00% 1,799,923 100.00% 
在本表中，只有本金为逾期支付下，客户贷款才会被视为逾期。此外，对于须分期偿还的客户贷款，只有实际逾期还款的贷 
款部分会呈报为逾期。贷款中任何未到期的部分则按剩余到期情况呈报。 
贷款客户集中度 
本行注意对贷款客户的集中风险控制。目前，本行符合有关借款人集中度的适用监管要 
求。 
主要监管指标 监管标准 2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
单一最大客户贷款比例(%) ≤10 2.2 4.7 3.4 
最大十家客户贷款比例(%) ≤50 15.7 25.6 25.4 
注：单一最大客户贷款比例=单一最大客户贷款余额/资本净额 
最大十家客户贷款比例=最大十家客户贷款余额/资本净额 
单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 
行业 贷款余额 占贷款总额百分比 
客户 a 商业服务业 10,366 0.43% 
客户 b 能源、采矿和农业 9,604 0.39% 
客户 c 交通运输 8,306 0.34% 
客户 d 商业服务业 7,909 0.33% 
客户 e 能源、采矿和农业 7,850 0.32% 
客户 f 交通运输 6,814 0.28% 
客户 g 交通运输 6,548 0.27% 
客户 h 商业服务业 6,127 0.25% 
客户 i 能源、采矿和农业 5,315 0.22% 
客户 j 交通运输 5,080 0.21% 
合计 73,919 3.04% 
贷款质量 
贷款五级分类 
本行根据中国银监会制定的《贷款风险分类指导原则》衡量及管理本行授信资产的质 
量。《贷款风险分类指导原则》要求中国商业银行将授信资产分为正常、关注、次级、可疑、 
损失五类，其中后三类贷款被视为不良贷款。就本行海外业务而言，若当地适用规则及要求
83 
比《贷款风险分类指导原则》更严谨，则本行按当地规则及要求进行授信资产分类。 
2006 年，本行中国内地机构继续执行授信资产风险分类的集中化管理。本行修订了《授 
信资产风险分类管理办法》，继续由总行和中国内地一级分行集中审核认定公司贷款风险分 
类。对授信资产进行分类时，本行充分考虑影响授信质量的各项因素，按照“资产回收的可 
能性和损失的程度”这一核心标准进行判断，经过初分、复核、专业审阅、认定等环节最终 
认定分类级别。对风险状况发生重大变化的实施动态调整。 
截至 2006 年 12 月末，集团不良贷款总额为 982.20 亿元人民币，较上年末减少 50.06 
亿元人民币，不良贷款比率 4.04%, 较上年末下降 0.58 个百分点。境内机构不良贷款总额为 
958.22 亿元人民币, 较上年末减少 23.87 亿元人民币, 不良贷款比率 4.82%, 较上年末下降 
0.64 个百分点。 
2006 年，本行出台《境内机构关注类贷款管理办法》，继续加强对关注类贷款风险细分 
管理和监控，取得了明显的成效。对风险程度较低的关注类贷款，本行积极采取措施，切实 
化解风险；对风险程度较高的关注类贷款，本行改善授信条件，加大压缩和退出力度；对符 
合不良贷款认定标准的高风险关注类贷款，本行及时下调为不良贷款。截至 2006 年 12 月末， 
本行关注类贷款余额 1981.45 亿元，较年初减少 859.03 亿元；占贷款余额的 8.15%，较年初 
下降 4.56 个百分点。 
集团贷款五级分类状况 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
正常 2,135,441 87.81% 1,847,772 82.67% 1,611,936 75.10% 1,491,281 69.12% 
关注 198,145 8.15% 284,048 12.71% 424,606 19.78% 314,968 14.60% 
次级 39,390 1.62% 45,573 2.04% 61,289 2.86% 63,088 2.92%
84 
可疑 44,100 1.81% 44,550 1.99% 32,931 1.53% 116,032 5.38% 
损失 14,730 0.61% 13,103 0.59% 15,700 0.73% 172,104 7.98% 
合计 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
不良总额 98,220 4.04% 103,226 4.62% 109,920 5.12% 351,224 16.28% 
中国内地五级分类状况 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
正常 1,703,695 85.69% 1,430,210 79.46% 1,227,414 70.77% 1,142,995 65.44% 
关注 188,604 9.49% 271,504 15.08% 408,571 23.56% 284,400 16.28% 
次级 38,517 1.94% 44,056 2.45% 57,656 3.32% 56,160 3.21% 
可疑 43,119 2.17% 42,852 2.38% 29,787 1.72% 110,159 6.31% 
损失 14,186 0.71% 11,301 0.63% 10,874 0.63% 152,930 8.76% 
合计 1,988,121 100.00% 1,799,923 100.00% 1,734,302 100.00% 1,746,644 100.00% 
不良总额 95,822 4.82% 98,209 5.46% 98,317 5.67% 319,249 18.28% 
2006 年，本行主要通过催收、法律诉讼、仲裁、重组等常规手段对不良资产进行清收处 
置。 
逾期贷款 
集团 
就本表而言，倘本金或利息支付逾期，贷款即被视为逾期。对于以分期付款方式偿还的客户贷款，倘贷款的任一部分逾期， 
贷款总额即被列为逾期。 
单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
未逾期 2,313,252 95.12% 2,108,575 94.34% 2,024,261 94.31% 1,850,938 85.79% 
已逾期 
1 至 90 天 44,336 1.83% 50,450 2.26% 65,540 3.05% 24,086 1.12% 
91 至 180 天 8,957 0.37% 14,012 0.63% 15,842 0.74% 10,448 0.48% 
180 天以上 65,261 2.68% 62,009 2.77% 40,819 1.90% 272,001 12.61% 
逾期贷款合计 118,554 4.88% 126,471 5.66% 122,201 5.69% 306,535 14.21% 
贷款合计 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
逾期 90 天以上的贷 
款合计 74,218 3.05% 76,021 3.40% 56,661 2.64% 282,449 13.09% 
85 
中国内地 
单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
未逾期 1,876,184 94.37% 1,681,891 93.44% 1,624,844 93.69% 1,464,882 83.87% 
已逾期 
1 至 90 天 39,307 1.98% 47,587 2.64% 61,930 3.57% 19,167 1.10% 
91 至 180 天 8,625 0.43% 13,643 0.76% 15,261 0.88% 9,164 0.52% 
180 天以上 64,005 3.22% 56,802 3.16% 32,267 1.86% 253,431 14.51% 
逾期贷款合计 111,937 5.63% 118,032 6.56% 109,458 6.31% 281,762 16.13% 
贷款合计 1,988,121 100.00% 1,799,923 100.00% 1,734,302 100.00% 1,746,644 100.00% 
逾期 90 天以上的贷 
款合计 72,630 3.65% 70,445 3.92% 47,528 2.74% 262,595 15.03% 
就本表而言，倘本金或利息支付逾期，贷款即被视为逾期。对于以分期付款方式偿还的客户贷款，倘贷款的任一部分逾期， 
贷款总额即被列为逾期。 
已识别减值贷款 
根据集团会计政策，若有客观证据证明贷款的预计未来现金流量减少且减少金额可以估 
计，则本行确认该客户贷款已减值，并计提减值准备。 
识别减值贷款的变动情况 
截至 2006 年 12 月末，集团识别减值贷款总额为 1030.19 亿元人民币，较上年末减少 
62.92 亿元人民币，减值贷款比率 4.24%, 较上年末下降 0.65 个百分点。中国内地机构减值 
贷款总额为 984.36 亿元人民币, 较上年末减少 37.04 亿元人民币, 减值贷款比率 4.95%, 较 
上年末下降 0.72 个百分点。海外机构识别减值贷款总额为 45.83 亿元人民币, 较上年末减少 
25.88 亿元人民币, 减值贷款比率 1.03%, 较上年末下降 0.62 个百分点。 
识别减值贷款年内变化表 

86 
集团 单位：百万元人民币 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
期初余额 109,311 118,157 357,786 427,229 
增加额 41,929 41,190 76,583 45,762 
减少额 -48,221 -50,036 -316,212 -115,205 
期末余额 103,019 109,311 118,157 357,786 
中国内地 单位：百万元人民币 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
期初余额 102,140 104,327 323,820 355,345 
增加额 40,924 39,721 74,077 37,632 
减少额 -44,628 -41,908 -293,570 -69,157 
期末余额 98,436 102,140 104,327 323,820 
按地域划分的识别减值贷款 
集团识别减值贷款地区结构 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 
减值比 
率 金额 占比 减值比率 金额 占比 
减值比 
率 金额 占比 
减值比 
率 
中国内地机构 98,436 95.55% 4.95% 102,140 93.44% 5.67% 104,327 88.29% 6.02% 323,820 90.51% 18.54% 
境外机构 4,583 4.45% 1.03% 7,171 6.56% 1.65% 13,830 11.71% 3.36% 33,966 9.49% 8.27% 
合计 103,019 100.00% 4.24% 109,311 100.00% 4.89% 118,157 100.00% 5.50% 357,786 100.00% 16.58% 
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。 
中国内地机构识别减值贷款地区结构 单位：百万元人民币(百分比除外) 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 
减值 
比率 金额 占比 
减值 
比率 金额 占比 
减值比 
率 金额 占比 
减值比 
率 
华北地 
区 18,718 19.02% 5.37% 17,699 17.33% 5.49% 22,600 21.66% 7.20% 67,140 20.73% 19.06% 
东北地 
区 12,460 12.66% 9.17% 12,363 12.10% 9.41% 13,170 12.62% 10.26% 36,213 11.18% 26.08% 
华东地 
区 24,269 24.65% 2.96% 27,811 27.23% 3.86% 28,595 27.41% 4.21% 91,087 28.13% 14.65% 
中南部 
地区 28,008 28.45% 5.77% 30,611 29.97% 6.88% 26,611 25.51% 6.13% 98,759 30.50% 21.76% 
西部地 
区 14,981 15.22% 7.53% 13,656 13.37% 7.53% 13,351 12.80% 7.48% 30,621 9.46% 17.03% 
合计 98,436 100.00% 4.95% 102,140 100.00% 5.67% 104,327 100.00% 6.02% 323,820 100.00% 18.54%
87 
按行业及产品类型划分的中国内地业务识别减值贷款 
中国内地机构按行业划分的识别公司减值贷款 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 
减值 
比率 金额 占比 
减值 
比率 金额 占比 
减值 
比率 金额 占比 
减值比 
率 
制造业 33,910 38.19% 6.10% 32,969 35.59% 6.72% 32,218 33.38% 6.48% 126,743 40.18% 23.99% 
商业、服务业 22,579 25.42% 8.83% 25,443 27.46% 9.96% 26,344 27.29% 9.25% 122,784 38.93% 33.52% 
房地产 10,710 12.06% 9.43% 12,763 13.77% 13.24% 13,453 13.93% 13.33% 22,060 6.99% 17.32% 
能源、采矿和 
农业 6,153 6.93% 2.56% 6,665 7.19% 3.17% 6,588 6.82% 3.52% 19,619 6.22% 11.54% 
运输业 8,258 9.30% 4.53% 7,759 8.37% 4.69% 9,729 10.08% 6.17% 7,349 2.33% 4.91% 
公用事业 4,523 5.09% 4.27% 4,627 4.99% 5.03% 5,564 5.76% 6.34% 6,019 1.91% 7.98% 
建筑业 2,322 2.61% 6.70% 2,226 2.40% 7.40% 2,569 2.66% 9.20% 5,190 1.65% 15.03% 
金融业 187 0.21% 0.35% 215 0.23% 0.28% 72 0.07% 0.22% 3,618 1.15% 9.81% 
其他 171 0.19% 6.35% 0 0.00% 0.00% 6 0.01% 0.08% 2,015 0.64% 47.11% 
公 司 减 值 
贷款合计 88,813 100.00% 5.75% 92,667 100.00% 6.53% 96,543 
100.00 
% 6.98% 315,397 100.00% 21.13% 
中国内地机构按产品类型划分的识别个人减值贷款 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 
减值 
比率 金额 占比 
减值 
比率 金额 占比 
减值 
比率 金额 占比 
减值 
比率 
按揭 4,100 42.60% 1.21% 3,837 40.50% 1.34% 3,608 46.35% 1.50% 3,003 35.65% 1.88% 
信用卡 219 2.28% 7.63% 228 2.41% 11.82% 218 2.80% 15.13% 262 3.11% 28.14% 
其他 5,304 55.12% 5.16% 5,408 57.09% 5.93% 3,958 50.85% 3.62% 5,158 61.24% 5.50% 
合计 9,623 100.00% 2.17% 9,473 100.00% 2.49% 7,784 100.00% 2.22% 8,423 100.00% 3.32% 
按客户类型划分的识别减值贷款 
集团识别减值贷款客户结构 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 
减值 
比率 金额 占比 
减值 
比率 金额 占比 
减值 
比率 金额 占比 
减值 
比率 
公司 
贷款 92,024 89.33% 4.98% 98,669 90.26% 5.76% 108,004 91.41% 6.54% 345,346 96.52% 19.47% 
个人 
贷款 10,995 10.67% 1.89% 10,642 9.74% 2.03% 10,153 8.59% 2.06% 12,440 3.48% 3.24% 
合计 103,019 100.00% 4.24% 109,311 100.00% 4.89% 118,157 100.00% 5.50% 357,786 100.00% 16.58% 

88 
中国内地机构识别减值贷款客户结构 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 
减值 
比率 金额 占比 
减值 
比率 金额 占比 
减值 
比率 金额 占比 
减值 
比率 
公司 
贷款 88,813 90.22% 5.75% 92,667 90.73% 6.53% 96,543 92.54% 6.98% 315,397 97.40% 21.13% 
个人 
贷款 9,623 9.78% 2.17% 9,473 9.27% 2.49% 7,784 7.46% 2.22% 8,423 2.60% 3.32% 
合计 98,436 100.00% 4.95% 102,140 100.00% 5.67% 104,327 100.00% 6.02% 323,820 100.00% 18.54% 
按货币划分的识别减值贷款 
集团 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 
减值 
比率 金额 占比 
减值 
比率 金额 占比 
减值比 
率 金额 占比 
减值比 
率 
人民币 86,816 84.27% 5.13% 87,980 80.49% 5.95% 84,469 71.49% 6.13% 204,638 57.20% 15.49% 
外币 16,203 15.73% 2.19% 21,331 19.51% 2.82% 33,688 28.51% 4.39% 153,148 42.80% 18.31% 
合计 103,019 100.00% 4.24% 109,311 100.00% 4.89% 118,157 100.00% 5.50% 357,786 100.00% 16.58% 
中国内地 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 
减值 
比率 金额 占比 
减值 
比率 金额 占比 
减值比 
率 金额 占比 
减值比 
率 
人民币 86,816 88.20% 5.14% 87,980 86.14% 5.96% 84,469 80.97% 6.13% 204,638 63.19% 15.50% 
外币 11,620 11.80% 3.88% 14,160 13.86% 4.37% 19,858 19.03% 5.58% 119,182 36.81% 27.98% 
合计 98,436 100.00% 4.95% 102,140 100.00% 5.67% 104,327 100.00% 6.02% 323,820 100.00% 18.54% 
按减值损失评估方式划分的识别减值贷款 
集团 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
单独确认减值贷款 81,730 79.33% 83,242 76.15% 89,768 75.97% 26,0241 72.74% 
组合确认减值贷款 21,289 20.67% 26,069 23.85% 28,389 24.03% 97,545 27.26% 
集团减值贷款合计 103,019 100.00% 109,311 100.00% 118,157 100.00% 357,786 100.00% 

89 
中国内地 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
单独确认减值贷款 78,409 79.65% 78,309 76.67% 81,747 78.36% 241200 74.49% 
组合确认减值贷款 20,027 20.35% 23,831 23.33% 22,580 21.64% 82620 25.51% 
中国内地减值贷款合计 98,436 100.00% 102,140 100.00% 104,327 100.00% 323820 100% 
贷款减值损失准备 
本行按照审慎、真实的原则，及时、足额地计提贷款减值损失准备。贷款减值损失准备 
包括两部分，即按单独方式评估的准备和按组合方式评估的准备。有关贷款减值损失准备的 
详细会计政策，请参见会计报表附注三、9。 
减值损失准备变动情况 
截止2006年12月末，集团减值准备余额942.93亿元，较上年末增加111.4亿元，减值 
准备对减值贷款覆盖率达到91.53%，较上年末上升15.46个百分点。年度减值损失为116.87 
亿元，较上年度增加7.99亿元，信贷成本比0.50%，与上年持平。中国内地机构减值准备余额 
901.60亿元，较上年末增加119.67亿元，减值准备对减值贷款覆盖率达到91.59%，较上年末 
上升15.04个百分点。年度减值损失为149.75亿元，较上年度增加1.31亿元，信贷成本比 
0.79%，比上年下降0.05个百分点。 
集团 单位：百万元人民币 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
期初余额 83,153 74,769 236,342 315,893 
年度减值损失 11,687 10,888 22,793 14,701 
核销或转出 -3,684 -4,783 -186,873 -62,007 
以前年度核销贷款收回 3,589 2,954 2,507 731 
外币折算差额 -452 -675 － － 
转入资本公积 － － － -32,976 
期末余额 94,293 83,153 74,769 236,342 

90 
中国内地 单位：百万元人民币 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
期初余额 78,193 67,158 221,061 273,662 
发生额 14,975 14,844 25,907 15,934 
核销或转出 -2,798 -3,421 -180,333 -35,675 
以前年度核销贷款收回 83 120 523 116 
外币折算差额 -293 -508 － － 
转入资本公积 － － － -32,976 
期末余额 90,160 78,193 67,158 221,061 
按地域划分的贷款减值准备 
集团 单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 
准备 
覆盖 
率 金额 占比 
准备 
覆盖 
率 金额 占比 
准备 
覆盖 
率 金额 占比 
准备 
覆盖 
率 
中国内 
地机构 90,160 95.62% 91.59% 78,193 94.04% 76.55% 67,158 89.82% 64.37% 221,061 93.53% 68.27% 
境外机 
构 4,133 4.38% 90.18% 4,960 5.96% 69.17% 7,611 10.18% 55.03% 15,281 6.47% 44.99% 
合计 94,293 100.00% 91.53% 83,153 100.00% 76.07% 74,769 100.00% 63.28% 236,342 100.00% 66.06% 
按区域划分中国内地已识别减值贷款减值损失准备 
单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 
准备 
覆盖 
率 金额 占比 
准备 
覆盖 
率 金额 占比 
准备 
覆盖 
率 金额 占比 
准备 
覆盖 
率 
华
北
地
区 
13,338 20.88% 71.26% 10,624 19.64% 60.03% 9,697 22.87% 42.91% 40,399 19.72% 60.17% 
东
北
地
区 7,903 12.37% 63.43% 7,020 12.98% 56.78% 5,903 13.92% 44.82% 23,789 11.61% 65.69% 
华
东
地
区 13,530 21.18% 55.75% 12,482 23.07% 44.88% 10,803 25.48% 37.78% 57,269 27.96% 62.87% 
中
南
部
地
区 19,495 30.52% 69.61% 16,929 31.29% 55.30% 10,675 25.18% 40.11% 64,730 31.60% 65.54% 
西
部
地 9,614 15.05% 64.17% 7,044 13.02% 51.58% 5,322 12.55% 39.86% 18,669 9.11% 60.97%
91 
区 
合
计 63,880 100.00% 64.89% 54,099 100.00% 52.97% 42,400 100.00% 40.64% 204,856 100.00% 63.26% 
按行业划分中国内地已识别减值公司贷款减值损失准备 
单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 
准备 
覆盖 
率 金额 占比 
准备覆 
盖率 金额 占比 
准备 
覆盖 
率 金额 占比 
准备覆 
盖率 
制造 
业 22,018 38.67% 64.93% 17,341 35.71% 52.60% 14,130 36.39% 43.86% 79,467 39.78% 62.70% 
商业、 
服务 
业 14,759 25.93% 65.37% 13,630 28.07% 53.57% 10,791 27.79% 40.96% 82,282 41.18% 67.01% 
房地 
产 5,937 10.43% 55.43% 5,647 11.63% 44.25% 3,310 8.52% 24.60% 12,474 6.24% 56.55% 
能源、 
采矿 
和农 
业 4,092 7.19% 66.50% 3,473 7.15% 52.11% 2,726 7.02% 41.38% 10,480 5.24% 53.42% 
运输 
业 6,100 10.72% 73.87% 5,500 11.32% 70.89% 5,572 14.35% 57.27% 3,444 1.72% 46.86% 
公用 
事业 2,419 4.25% 53.48% 1,877 3.87% 40.57% 1,635 4.21% 29.39% 3,860 1.93% 64.13% 
建筑 
业 1,430 2.51% 61.58% 1,003 2.06% 45.06% 647 1.67% 25.18% 3,545 1.77% 68.30% 
金融 
业 100 0.18% 53.48% 93 0.19% 43.26% 15 0.04% 20.83% 2,741 1.37% 75.76% 
其他 70 0.12% 40.94% 0 0.00% 0.00% 3 0.01% 50.00% 1,539 0.77% 76.38% 
公司 
减值 
准备 
合计 56,925 100.00% 64.10% 48,564 100.00% 52.41% 38,829 100.00% 40.22% 199,832 100.00% 63.36% 
按客户类型划分中国内地贷款减值损失准备 
单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 
准备覆 
盖率 金额 占比 
准备覆 
盖率 金额 占比 
准备覆 
盖率 金额 占比 
准备覆 
盖率 
公司 
贷款 71,234 79.01% 80.21% 60,267 77.07% 65.04% 49,135 73.16% 50.89% 206,875 93.58% 65.59% 
个人 
贷款 18,926 20.99% 196.67% 17,926 22.93% 189.23% 18,023 26.84% 231.54% 14,186 6.42% 168.42% 
合计 90,160 100.00% 91.59% 78,193 100.00% 76.55% 67,158 100.00% 64.37% 221,061 100.00% 68.27% 

92 
按评估方式划分的贷款减值损失准备 
集团 
单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
单独确认减值 
贷款准备金 53,846 57.10% 45,738 55.01% 35,699 47.75% 153,810 65.08% 
组合确认减值 
贷款准备金 12,735 13.51% 12,009 14.44% 12,614 16.87% 63,601 26.91% 
组合确认非减 
值贷款准备金 27,712 29.39% 25,406 30.55% 26,456 35.38% 18,931 8.01% 
合计 94,293 100.00% 83,153 100.00% 74,769 100.00% 236,342 100.00% 
中国内地 
市场风险 
概述 
市场风险是指由于市场价格（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。本行市场风 
险的主要类别为利率风险和汇率风险。因中国政府逐步放宽对利率和汇率的管制，因此本行 
预期将会面临越来越大的市场风险。 
本行承受的市场风险主要来自于本行资产负债表中的资产与负债，以及资产负债表外业 
务。根据监管要求，本行的业务分为交易账户和银行账户。交易账户主要包括银行为交易目 
的或规避交易账户其他项目的风险而持有的可以自由交易的金融工具和商品头寸。银行账户 
则包括交易账户以外的金融工具（包括本行运用剩余资金购买金融工具所形成的投资账户）。 
2006 年，本行将市场风险管理职能进行整合，在总行风险管理部建立了独立的市场风险 
单位：百万元人民币（百分比除外） 
2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 2003 年 12 月 31 日 
金额 占比 金额 占比 金额 占比 金额 占比 
单独确认减值贷 
款准备金 51,269 56.86% 42,720 54.64% 31,539 46.96% 142,924 64.65% 
组合确认减值贷 
款准备金 12,610 13.99% 11,379 14.55% 10,861 16.17% 61,932 28.02% 
组合确认非减值 
贷款准备金 26,281 29.15% 24,094 30.81% 24,758 36.87% 16,205 7.33% 
合计 90,160 100.00% 78,193 100.00% 67,158 100.00% 221,061 100.00%
93 
管理团队，具体承担集团市场风险管理职能。 
2006 年，本行制定了《中国银行市场风险管理政策》，细化了市场风险管理的组织架构、 
流程、风险测量、限额制定、信息报告等方面内容。按照有关监管要求并参照国际商业银行 
市场风险管理的实践，结合业务、信息系统和管理模式现状，本行搭建了集团总体市场风险 
限额架构并完善中国银行市场风险的限额指标体系，确定了 2006 年的市场风险限额。建立 
了市场风险日报和月报制度，整合集团市场风险信息，对市场风险限额执行情况进行监控和 
分析，并报告高级管理层。 
交易账户市场风险管理 
本行管理交易账户市场风险的主要方式是：对交易账户设定总体风险价值限额和止损限 
额，并将止损限额进行分解，对每个交易台及交易员设定头寸限额和止损限额。交易员只允 
许进行符合若干预设标准（如某金融工具流动性）的金融工具的买卖。本行每日监控交易账 
户的风险价值及交易员的敞口和止损限额。 
风险价值是估算在特定持有期和置信度内由于市场变动而导致损失的情况。目前本行采 
用一日持有期和 95%置信度计算本行中国内地资金交易账户的风险价值（var），即在一天 
持有期内，本行交易账户头寸亏损超过风险价值（var）的可能性不超过 5%。下表为截至 
2006 年、2005 年 12 月 31 日止本行中国内地外汇资金交易业务（不包括投资账户和银行账 
户）的风险价值分析结果: 
单位：百万美元 
截至 2006 年 12 月 31 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 1.79 2.71 16.25 0.54 4.77 3.27 11.94 0.20 
汇率风险 0.81 2.99 14.12 0.39 12.84 2.70 18.69 0.34 
波动风险 0.13 0.79 6.19 0.07 0.36 0.80 2.54 0.04 
市场风险总额 2.07 5.64 19.15 0.86 15.06 5.10 18.86 0.69 
本行亦采用信息技术系统，包括 kondor+、bloomberg pts、derivatech、summit 
和 riskmetrics，对资金业务的市场风险进行衡量、分析、监控和管理。本行采用的 kondor+ 
系统目前覆盖了本行的主要海外分行及本行大部分资金业务产品。同时本行也引入了
94 
bloomberg pts 系统，用于监控固定收益产品及其衍生产品的头寸和估值，利用 derivatech 
和 summit 系统进行衍生产品的定价、估值与风险监控，riskmetrics 系统则用于生成风险价 
值分析报告和压力测试报告。该等系统有助本行监控资金业务的市场风险状况。 
本行已建立全球中台网络，以监控本行投资账户及交易账户（资金业务）的市场风险。 
中国内地分行的资金业务直接由总行负责监控。此外，本行不断提升后台的职能，尤其是改 
进金融工具按市值核算的独立价格验证。 
银行账户市场风险管理 
本行银行账户面临的主要市场风险是利率风险。利率风险主要源于本行银行账户资产及 
负债的到期日或重新定价期限不相匹配。本行主要通过缺口分析来评估银行账户所承受的利 
率风险，即定期计算一定时期内到期或需要重新定价的生息资产与付息负债两者的差额（缺 
口），并利用缺口数据进行敏感性分析和压力测试，为本行调整计息资产与计息负债的重新定 
价期限结构提供指引。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。 
2006年人民币存款于八月加息一次，贷款分别于四月及八月加息两次，虽然2006年本行 
一年以内累计人民币利率敏感为负缺口，但由于四月份仅贷款加息而存款成本未变，八月份 
加息中占存款总额40%左右的活期存款利率并未上调，总体而言，人民币加息对本年度财务 
收益有利；2006年美联储分别于一月、三月、五月及六月加息四次，虽然2006年本行一年以 
内累计美元利率敏感基本上为负缺口，但鉴于境内行占美元存款80%以上的小额存款利率并 
没有随美元加息而上调，美元加息对本年度财务收益有利。 
95 
截至 2006 年、2005 年 12 月 31 日，本行国际财务报告准则下利率敏感性缺口状况如下： 
集团 单位：百万元人民币 
1 个月及以 
下 
1 个月至 3 
个月（含） 
3 个月至 1 
年（含） 
1 年至 5 年 
（含） 
5 年以上 无息 
2006 年 12 月 31 日 -1,127,311 220,794 591,503 347,020 341,294 39,656 
2005 年 12 月 31 日 -894,734 33,843 464,652 402,985 241,871 6,902 
注：利率敏感性缺口=利率敏感性资产-利率敏感性负债 
中国银行 单位：百万元人民币 
1 个月及以 
下 
1 个月至 3 
个月（含） 
3 个月至 1 
年（含） 
1 年至 5 年 
（含） 
5 年以上 无息 
2006 年 12 月 31 日 -928,376 155,514 547,218 267,636 246,984 66,418 
2005 年 12 月 31 日 -828,023 40,274 423,374 323,711 195,677 48,800 
截至 2006 年末，集团 1 个月及以下期限档次为负缺口，其余期限档次为正缺口。由于 
集团活期存款金额较大，该类存款绝大部分列入 1 个月及以下期限档次，造成该期限档次的 
负缺口。其余期限档次的利率敏感性资产均大于利率敏感性负债，因此形成正缺口。 
假设各货币收益率曲线在 2007 年初向上平行移动 100 个基点，集团的净利息收入将下 
降 68.18 亿元人民币；假设各货币收益率曲线在 2007 年初向下平行移动 100 个基点，集团 
的净利息收入将上升 68.18 亿元人民币。该分析基于 2006 年末的静态缺口，未考虑 2007 年 
资产负债业务的变化以及利率变动对客户行为的影响。 
2006 年，人民币利率市场化稳步推进。部分商业银行推出了人民币固定利率住房贷款业 
务，人民币利率掉期等利率衍生交易市场也逐渐活跃。“上海银行间同业拆放利率”(shibor) 
于 2007 年 1 月 4 日正式运行，为培育中国货币市场基准利率体系，加速人民币利率市场化 
进程奠定了基础。在此市场环境下，本行一方面积极完善利率定价管理，开发并逐步推广贷 
款利率定价模型，提高定价能力；另一方面，密切关注新业务开展可能带来的风险，并开始 
研究利用人民币利率衍生交易实施风险对冲的可能性。 
投资账户市场风险管理 
根据监管要求，本行银行账户还包括运用剩余资金购买金融工具所形成的投资账户，本 
行除利用缺口分析来评价投资账户的利率风险外，本行高级管理层将按照董事会（风险政策
96 
委员会）审核通过的市场风险管理政策和市场风险限额，每年审查和批准对投资账户设立的 
投资指引。该投资指引规定了有关市场风险的限额、投资组合的规模、许可的投资产品、投 
资组合的久期、发行人集中度及最低信用评级等要求。本行业务部门必须严格遵守投资指引， 
并由本行独立的风险控制团队进行监控和检查。本行不断提高风险管理的水平，目前主要通 
过监控投资组合的风险价值和基点价值以及通过压力测试来管理投资账户的市场风险。 
汇率风险 
本行对汇率风险的管理涵盖非交易性汇率风险管理及交易性汇率风险管理。非交易性汇 
率风险主要来自外汇资本金、海外附属机构投资以及外币盈利或亏损。本行力求资金来源与 
运用达到货币匹配，以此减少外汇敞口，同时考虑采取结汇或对冲交易的方式，以管理和控 
制汇率风险。交易性汇率风险主要来自本行自主或经营外汇交易业务面临的风险，本行根据 
自身风险承受能力和经营能力，努力把外汇敞口控制在既定的限额之内。 
2006 年本行外汇敞口情况请详见财务回顾一节。 
流动性风险 
概述 
流动性风险是指银行无法以合理价格获取资金，滿足到期债务支付及资产业务增长等需 
求的风险。本行整体流动性管理政策目标是：确保所有机构能够保持适当的流动性，以便满 
足正常的业务需要，以及在出现业务发展机会时或有紧急情况时，有足够的能力在一定的时 
间内以合理的成本融入资金，保证对外支付。 
本行的流动性管理贯彻一级法人管理原则，总行对全行的流动性风险负总责，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。流动性管理的政策和风险衡 
量标准实行高度统一。本行充分考虑市场融资能力等方面因素，以稳健原则为基础制定有关
97 
方案。 
本行流动性管理同时采取资产流动性管理策略与负债流动性管理策略。资产流动性管理 
策略包括资产多元化，提高资产的可变现能力，建立适量的高流动性组合资产等。负债流动 
性管理策略包括保持负债的稳定性，提高核心存款在负债中的比重，保持良好的市场融资能 
力等。 
本行流动性管理的内容，包括正常经营环境下的管理和非正常情况下的应急措施。在正 
常情况下，本行通过定期更新的管理政策指引、流动性指标管理、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授权管理等，将全行流动性水平调控在适当范围之内； 
同时，本行根据可能发生的流动性危机，建立头寸预报、预测制度，密切关注头寸变化，进 
行流动性情景分析，制定紧急情况下的融资计划和应急方案以及流动性压力测试，以达到及 
时发现和化解风险的目的。 
2006 年本行流动性状况呈现总体宽松与阶段性紧张并存的特点。市场形势对本行的流动 
性构成的挑战主要表现在：一是受股票市场和基金市场持续复苏因素影响，从 2006 年下半 
年开始人民币一般性存款增长明显放缓，稳定的资金来源有所减少，而贷款增势较好，造成 
了一定的流动性压力；二是受新股频繁发行影响，资金大进大出，波动性很大；三是为了抑 
制货币信贷过快增长，央行多次进行紧缩性货币政策调控，两次上调基准利率、三次上调法 
定存款准备金率、四次发行定向票据，紧缩性货币政策工具出台的力度与频度均为历史之最。 
在此情况下，本行不断提高流动性管理水平，将流动性风险和效益有机结合，采取主动 
负债管理、缩短债券投资组合的久期等措施，保持了适当的流动性，满足了正常的业务发展 
需要。 

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流动性监管指标 
截至 2006 年 12 月 31 日，本行反映流动性状况的有关指标达到监管要求，具体如下表： 
（流动性比率为集团口径指标，贷存比率与超额备付率仅为中国内地分行指标） 
主要监管指标 监管标准 2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
人民币 ≥25 37.7 48.9 35.3 
流动性比率(%) 
外币 ≥25 64.1 87.4 78.6 
人民币 ≤75 57.6 51.7 59.6 
贷存比 (%) 
外币 ≤85 70.1 70.4 67.9 
超额备付率 人民币 2.8 3.0 3.7 
外币 25.8 16.9 13.4 
注：流动性比率=流动资产/流动负债；流动性比率按照中国人民银行及中国银监会的相关规定计算，财务资料按照中 
国企业会计准则及《金融企业会计制度》要求编制。 
贷存比率=贷款余额/存款余额 
人民币超额备付率=（超过法定存款准备金的备付金+库存现金）/（存款余额+应解汇款） 
外币超额备付率=（超过法定存款准备金的备付金+库存现金+存放同业与海外联行）/存款余额 
流动性缺口分析 
本行还通过缺口分析来评估流动性风险状况。本行定期计算和监测流动性缺口（即一定 
期限内到期的资产与相同期限内到期的负债之间的差额），并利用缺口数据进行敏感性分析和 
压力测试。截至 2006 年 12 月 31 日，本行流动性缺口状况如下： 
集团 单位：百万元人民币 
已逾期 即期偿还 
1 个月 
及以下 
1 个月 
至 3 个 
月（含） 
3 个月至 
1 年（含） 
1 年至 5 年 
（含） 
5 年以上 
合计 
2006 年 12 
月 31 日 
48,753 -1,883,614 -678 55,733 44,077 1,066,568 1,086,975 417,814 
2005 年 12 
月 31 日 
40,453 -1,636,947 -11,987 -74,823 170,479 967,589 807,856 262,620 
注：流动性缺口=一定期限内到期的资产-相同期限内到期的负债 
截至 2006 年末，集团即期偿还期限与 1 个月及以下期限的档次为负缺口，其余期限档
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次为正缺口。由于活期存款占存款总额的 40%左右，使得活期负债占总负债的比例也较高， 
造成了该期限档次呈现负缺口。但由于本行的活期存款稳定性较高，上述负缺口并不会给本 
行带来较大的即期资金支付压力。其余期限档次的资产余额均高于负债余额，因此形成正缺 
口。 
内部控制与操作风险 
内部控制三道防线 
2006 年，本行为实现内控关口前移、全面加强风险管理，实施了内控流程整合，构建内 
控体系三道防线。 
全行各级机构、各业务管理部门和每个员工在承担业务发展任务的同时也承担着内部控 
制的责任，是内部控制的第一道防线。第一道防线是规章制度的执行者，通过自我评估、自 
我检查、自我整改、自我培训实现自我控制,实现“自己管自己”。 
法律合规部门与业务条线部门负责统筹内控制度建设，指导、检查、监督和评估第一道 
防线的工作，是内部控制的第二道防线。第二道防线致力于实现内部控制管理的标准化、过 
程化、规范化、经常化和科学化，构建教育、预警、防范、奖惩相结合的内控机制。 
稽核部门负责通过系统化和规范化的方式，检查评价本行经营活动、风险管理、内部控 
制和公司治理的适当性和有效性，是内部控制的第三道防线。第三道防线的目标是协助董事 
会和管理层履行职责，保证国家有关经济金融法律法规、方针政策、监管部门规章的贯彻执 
行，改善组织运营效率、有效控制风险、增加银行价值。 
操作风险 
操作风险是指由不完善或有问题的内部流程、人员及系统或外部事件所造成损失的风险。
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2006 年，本行在操作风险管理方面主要开展了以下工作： 
为提升操作风险管理水平，本行与苏格兰皇家银行开展了操作风险管理项目合作，着手 
研究和制定适合本行实际情况的操作风险管理基本制度。 
本行制定了操作风险与控制评估流程并进行了试点验证，计划于 2007 年在部分分行开 
展推广工作。该流程通过规范的工作方法，对关键业务流程的风险与控制情况进行定期识别 
和评估，使业务条线及时掌握操作风险状况及风险敞口。 
同时，本行着手研究操作风险关键风险指标工作流程，初步制定了部分主要操作风险关 
键指标，开始对分行操作风险管理工作进行监测和指导。 
本行开展了对银监会《关于加大防范操作风险工作力度的通知》落实情况的测评及对部 
分业务的操作风险检查，根据评价结论和检查结果对发现的问题进行了及时的整改。 
内部稽核 
本行内部稽核为内部控制第三道防线，是董事会及稽核委员会领导下的内部独立客观的 
确认与咨询活动，以改善中国银行运营、增加价值为宗旨，以协助董事会、稽核委员会和高 
级管理层履行职责为目标，以风险为导向，利用系统化、规范化的方法提供稽核确认、内控 
评价、咨询、反舞弊欺诈等稽核服务，促进组织目标的实现。 
2006 年，本行稽核工作着手实行垂直一体化的管理模式，由总行对各稽核机构的人事、 
财务以及工作职能实行垂直管理。本行稽核工作向董事会或其授权的稽核委员会报告，行政 
上向管理层报告。 
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稽核体系的独立性、专业性和权威性 
2006 年，本行董事会稽核委员会聘请独立的外部机构完成了对全行稽核工作的整体评 
估。结合评估结果和监管机构的要求，对照国际内部审计实务标准和最佳实践，在董事会、 
稽核委员会和高级管理层领导下成立了专门的工作组，研究制定了包括组织架构、管理体制、 
政策制度、实务技术等方面内容在内的、全方位的中国银行稽核工作改进方案，经董事会审 
议批准后按照预定时间表稳步推进，在年内完成了监察与稽核职能的分设，成立了独立的稽 
核部门，明确了稽核职能定位、报告路线和组织架构，着手更新了稽核政策制度，确立了垂 
直一体化的稽核管理模式。同时，按照新稽核职能对人员知识技能的要求，聘请国际知名会 
计师事务所内部审计专家对全行 600 多名稽核人员进行了专项集中培训。通过以上措施，本 
行内部稽核的独立性、专业性和权威性进一步得到提高。 
加大稽核检查的深度和广度 
围绕促进内部控制有效性不断提升的目标，2006 年本行内部稽核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。完成了对总行本部 5 个、一级/直属分行 23 个 
（覆盖率 72%）和海外机构/附属公司 12 个（覆盖率 42%）稽核项目，同时将大部分稽核资 
源投入对基层机构内部控制的检查，共完成对 254 个二级分行（覆盖率 88 %）、2,171 个城 
区支行（覆盖率 57%）、3,228 个县支行（覆盖率 50%）的常规稽核以及 775 项业务专项稽 
核、1,132 项离任稽核、83 项个案调查。 

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反洗钱 
本行于 2001 年成立反洗钱工作委员会，该委员会为集团反洗钱工作最高决策机构。根 
据中国银行《反洗钱委员会章程》规定，本行反洗钱工作委员会的主要职能为： 
. 根据国内外反洗钱法律环境、政策环境的变化和发展趋势，商议制定反洗钱政策； 
. 部署反洗钱工作计划、对重大、突发事件提出处理方案并监督落实。 
本行中国内地外机构亦相应成立了反洗钱小组，具体分管所属机构反洗钱工作，同时接 
受反洗钱工作委员会的领导及监督。 
为了规范集团反洗钱工作及反恐怖融资工作，根据中国反洗钱法规及有关规定，本行制 
定了《中国银行股份有限公司反洗钱和反恐怖融资政策》，该政策充分体现了国际上对金融机 
构在反洗钱和反融资方面的基本要求。与此同时，为了进一步提高反洗钱工作科技含量，本 
行致力于利用先进的科技手段提高信息的采集质量，相关信息系统的升级改造工作亦有条不 
紊的开展。 
为全面了解本行海外分支机构反洗钱工作的开展情况，本行在充分参考境外机构经营所 
在地的相关法律及法规的情况下，于年内开展了对境外机构的反洗钱工作风险测评。本行亦 
根据测评结果对分支机构进行监督及指导。 
在反洗钱工作方面，本行已建立了较为完善的反洗钱制度体系；全面建立起反洗钱组织 
构架；反洗钱系统已初具规模，基本满足了监管当局及本行反洗钱风险控制的要求；并开始 
全面严格履行反洗钱政策义务。 
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资本管理及内部资金转移定价 
本行的资本管理主要包括三个方面：资本充足率管理，资本融资管理以及经济资本配置。 
其中资本充足率是核心，资本融资管理以及经济资本配置是确保该目标得以实现的必要手段。 
资本管理目标 
本行资本管理的目标是通过对各类资本的有效筹划，保证本行的资本充足状况符合外部 
监管、信用评级、风险补偿和股东回报的要求；同时，充分利用资本投资工具和资本配置管 
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。 
资本充足率管理 
资本充足率指标是衡量一家银行稳健性及抵御风险能力的最重要指标。为了充分保障对 
风险的抵御作用，本行对资本充足率实行分层次目标管理。首先，作为最低目标，本行的资 
本充足率水平在任何时点上不低于8%的法定监管要求。其次，制定和执行资本充足率的操作 
目标。根据本行面临的风险状况，参考国际同业的资本充足率水平以及本行经营状况，确定 
审慎资本充足率水平，作为实际执行的资本充足率管理目标。 
本行采用压力测试手段来预测、规划和管理资本充足率。压力测试涉及的情景假设主要 
包括业务发展情况、主要风险敞口变动情况、资本金汇率风险变动情况以及显著影响因素变 
动情况等。 
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。2006年，本行资本充足水 
平大幅提升，主要原因一是香港和上海两地上市募集资金增加了核心资本，二是外汇敞口降 
低相应使市场风险资本要求下降。集团2006年末的资本充足率为13.59 %，比上年末上升3.17
104 
个百分点；核心资本充足率为11.44%，比上年末上升3.36个百分点。 
单位：（人民币百万元，以百分比列示者除外） 
项目 2006 年 12 月 31 日 2005 年 12 月 31 日 2004 年 12 月 31 日 
核心资本： 
股本 253,623 209,427 186,390 
储备 126,916 25,795 21,276 
少数股东权益 29,560 28,778 27,387 
核心资本总值 410,099 264,000 235,053 
附属资本： 
一般准备金 28,315 25,677 24,881 
已发行长期次级债券 60,000 60,000 26,070 
其他 (2,439) (1,380) (2,315) 
附属资本总值 85,876 84,297 48,636 
扣减前资本基础总计 495,975 348,297 283,689 
扣减： 
商誉 (1,875) 0 0 
对未并表金融机构的投资 (4,371) (2,877) (1,399) 
对非自用不动产的投资 (5,141) (5,697) (5,228) 
对工商企业的资本投资 (13,226) (13,486) (6,585) 
资本净额 471.362 326,237 270,477 
核心资本净额 396,855 252,970 228,447 
加权风险资产： 
表内加权风险资产 2,758,602 2,456,160 2,400,695 
表外加权风险资产 421,560 337,029 292,808 
加权风险资产总计 3,180,162 2,793,189 2,693,503 
加权风险资产及市场风险 
资本调整 3,469,017 3,131,002 2,693,503 
资本充足率 13.59% 10.42% 10.04% 
核心资本充足率 11.44% 8.08% 8.48% 
资本融资管理 
资本融资管理的首要目标是，从本行稳健经营的客观要求出发，通过适时、适当的资本 
融资管理，使本行的资本充足率保持在操作目标水平。通过规划和管理会计资本、监管资本、 
经济资本资源，服务于本行的股利和股份管理、资本充足率管理以及经济资本配置。 
本行的资本融资策略强调要符合国际惯例和监管要求，有助于拓宽资本补充渠道，增强 
财务结构的灵活性。在融资策略的实施方面强调要有利于本行优化资本结构，控制资本成本；
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有助于优化资本金的币种结构，有效防范汇率风险，化解或减轻人民币汇率升值对资本充足 
率的冲击；有助于优化本行资产负债的期限结构配比，合理规避资产负债管理中的流动性风 
险和利率风险；有效控制融资成本。 
经济资本配置 
本行自2004年开始在境内部分分行试行经济资本配置管理，并于2005年在境内分行中 
正式实施。经济资本配置流程根据各分行实际承担风险的大小对其计提经济资本要求，采用 
风险调整资本回报率（raroc）、经济价值增加值（eva）考核各分行的绩效表现。其中： 
风险调整资本回报率=风险调整收益/经济资本占用×100%； 
经济价值增加值＝风险调整收益－经济资本成本； 
经济资本成本＝经济资本占用×经济资本底线回报率。 
年内，本行自行设计并开发了经济资本配置管理信息系统，实现了对中国内地机构经济 
资本指标表现的监测、分析与考核。经济资本覆盖的风险种类将从信用风险扩展到市场风险 
和操作性风险。 
资本配置管理的核心不是片面强调要增加收益或控制风险，而是强调收益与风险相匹配。 
通过计算和监测经济资本指标表现，各级管理机构的风险成本意识和资本成本意识增强了， 
收益-风险匹配关系显著改善。经济资本配置不仅增强了资本对风险敞口的覆盖程度，也显著 
提高了风险的产出能力和资本的回报水平。 
资本管理的未来发展 
本行将进一步完善资本管理流程，充分发挥资本管理在银行管理中的积极作用。本行将 
努力做好资本充足率管理，资本金管理和经济资本配置管理，不断增强资本实力，推动各项 
业务持续、健康、快速发展。 
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内部资金转移定价 
内部资金转移（funds transfer）是指本行（包括总行、海内外分行及附属行）内部各 
单位间各种形式的内部资金交易。2005年，本行明确了内部资金转移定价（funds transfer 
pricing ,以下简称ftp）的管理理念及思路，并逐步探索采用ftp机制优化资源配置，降低经 
营成本，提高经营效益。2006年，本行制定了《中国银行内部资金转移体系目标指引》，确 
定了ftp的作用目标、定价机制和转移规则等，明确了本行内部资金管理的发展方向。本行ftp 
政策所要达到的主要目标是： 
（1）通过 ftp 机制，构建全行“集中资金池”，使流动性和银行账户市场风险管理的职 
能集中到总行司库。通过在 ftp 价格中加载利率风险等信息，将银行账户业务中所蕴含的利 
率风险从业务单位（分行、部门等）剥离，使这些单位的盈利不受外部利率波动的不确定性 
影响，从而专注于业务发展；这些风险转移归并到总行司库后，由司库利用对冲工具有效控 
制这些风险，从而降低外部利率冲击对全行利润造成的不确定性波动。 
（2）通过 ftp 机制，为按分行、部门、产品、客户等不同维度进行绩效评估提供一致基 
准，同时也为外部产品定价测算盈利能力时提供一致基准，确保盈利能力之间比较结果的客 
观性。 
（3）通过ftp机制，准确传递总行管理信号，正确引导业务单位的经营行为，确保本行 
可持续稳定发展。 
2006 年，本行各业务分部的 ftp 均已实行多重期限匹配利率法。同时本行对海外分行的 
银团贷款提供了货币和期限匹配的内部资金支持。新的 ftp 方法有利于加强本行对资产和负 
债的管理能力，提升本行资金管理水平。 
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机构管理、人力资源管理与开发 
机构管理 
机构数量 
截至 2006 年 12 月 31 日，本行境内外机构共有 11,241 家，比年初减少 405 家。其中在 
中国内地拥有 37 家一级分行、直属分行，283 家二级分行及 10,277 家分支机构；在境外有 
643 家分行、子公司及代表处。 
下表载列截至所示日期止，按地理区域划分的本行网络中中国内地分行及分支机构数目。 
2006 年 12 月 31 日 
分行及分支机构 占总额百分比 
华北地区 1,625 15.3% 
东北地区 931 8.8% 
华东地区 3,539 33.4% 
中南地区 2,856 26.9% 
西部地区 1,647 15.5% 
合计 10,598 100.0% 
流程整合与机构改革 
2006 年，本行积极稳步推进流程整合与机构改革工作。公司和个人授信审批已全部集中 
到一级分行和总行，事后监督、资金清算、财务管理、现金配送、票据交换、单证处理、银 
企对账等集中上收有明显进展；改革和完善内部控制体系，在全行构建包括职能管理、内控 
合规和内部稽核在内的内控三道防线，确保内部控制的充分性和有效性；稽核体系开始实施 
垂直管理；向一级分行派驻信贷风险总监和财务总监；业务条线管理进一步加强。 
明确业务架构和流程整合总体目标。制订了《业务架构和流程整合总体框架方案》，明 
确提出坚持集约化、集中化的改革方向，业务架构和流程整合与 it 蓝图建设同步推进，本行
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计划用 2-3 年的时间，实现以客户为中心、全行一本账、业务操作逻辑集中、加强条线管理、 
加快产品创新等目标。 
推进网点整合。2006 年，本行进一步推进机构网点结构调整，撤并了部分经营规模小、 
无发展潜力的网点，在重点地区、重点城市适当增设网点，推进全行的机构网点布局和合理 
化建设。 
人力资源管理与开发 
本行充分认识到人才对于构筑银行核心竞争力的关键作用，视员工为推动企业成长与发 
展的原动力。为此，我们秉承以人为本的精神，为员工创造各种能充分施展他们才能的条件， 
使每一个人都能在一种和谐的环境中尽其所能，使中国银行能够成为员工成就理想、实现人 
生价值的最佳选择。人力资源管理战略为本行企业发展战略的重要组成部分，对本行业务发 
展总体战略的实施起到了积极的推动作用。 
员工数量 
截至 2006 年 12 月末，本行共有各类员工 232,632 人4（含中国内地机构中的劳务关系 
用工 40,620 人），其中海外分行及附属机构本地雇员 20,204 人。2006 年，本行需承担费用 
的离退休职工人数为 7,278 人。 
本行按年龄、学历和专业等分类的内地在岗员工构成情况： 
类别 细分类别 雇员数目 百分比 
30 年龄 岁以下 28,928 16.84％ 
31 岁至 40 岁 95,831 55.78％ 
4此系根据新的会计准则口径统计。 
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41 岁至 50 岁 40,617 23.64％ 
51 岁至 60 岁 6,317 3.68％ 
60 岁以上 115 0.06％ 
研究生或以上学历 2,883 1.68％ 
大学本科 64,231 37.39％ 
大学专科或专业培训学校 71,639 41.70％ 
教育背景 
其他 33,055 19.23％ 
公司金融业务 18,151 10.56％ 
个人金融业务（不含柜员） 16,088 9.36％ 
金融市场业务 1,338 0.78％ 
运营服务 25,256 14.71% 
财务会计 12,099 7.04％ 
风险管理、内部审计、法律与合规 10,086 5.87％ 
管理层（注 1） 4,331 2.52％ 
专业构成 
其他（注 2） 84,459 49.16％ 
（注1） 包括二级分行副行长、一级分行部门副总经理、总行团队主管（含）以上管理职级人员。 
（注2） 包括一线柜员、行政及其他辅助员工。 
深化人力资源管理改革，完善激励约束机制 
2006年，本行进一步推进与现代商业银行制度相适应的市场化人力资源管理机制建设。 
完善职位管理。根据业务发展要求并配合银行业务发展战略，逐步建立以岗位为本、绩 
效为导向的人力资源管理平台。在中国内地机构推进新的职位分类及人员聘任制度，实行竞 
争上岗，加强人员配置和结构调整；规范新员工选择标准，实施机构统一招聘，强化专业队 
伍。 
优化绩效管理。继续建立并实施以“平衡计分卡”和“绩效过程管理”为核心的员工绩 
效管理制度，基本实现从单一的事后评价和结果认定式的绩效考核向系统化、全程化的全面
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绩效管理的转变，良好的绩效管理文化正在形成。使之更加有效的体现本行绩效优先、有效 
激励、创造价值、持续发展的核心价值观。 
稳妥推进薪酬管理改革。全面实施企业年金计划，员工福利体系进一步完善。 
加强人才培养开发 
2006 年本行围绕“全面贯彻科学发展观，持续打造诚信、专业、创新、协作的员工队伍” 
这一主题，制定了一套面向中高级管理者、核心人才、一线员工等各层级雇员的培训计划， 
全面加强经营管理、专业技术、技能操作三支队伍建设。 
全面加强中高层管理人才培养。进行高管领导力模型开发，构建初、中、高级领导力课 
程体系，积极推进与战略投资者的培训合作，引进 rbs 高管课程，与哈佛商学院合作研发领 
导力开发项目，开设高管 emba 核心课程，加强各级管理人员培训。 
加强一线员工培训。配合业务发展战略，开展各类专业技术培训和职业素质培训，加强 
核心人才培养和一线员工队伍建设。重点突出了风险管理人员、私人理财经理、公司客户经 
理等专业人才培训。在全辖组织开展包括综合柜员、大堂经理、理财经理，网点负责人等在 
内的一线岗位人员培训与测试，测试合格率为 97.9%。配合合规内控建设，建立了合规测试 
题库，组织开展了全辖员工第二次法律合规测试，20 余万员工参加了合规测试，合格率达 
99.25％。 
2006 本行的教育培训成果在中国金融教育发展基金会科研成果评选中，一举获得了三 
项奖项：“中国银行电子化培训系统”获远程教育类一等奖；“中国银行一线员工培训系列教 
材”获著作类二等奖；“商业银行市场营销系列教程”获著作类优秀奖。 
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加强企业文化建设 
本行认识到良好健康的企业文化是企业生存、发展的必须。2006 年，本行全力推进企业 
文化建设。在汲取中国银行百年文化精髓及优秀的文化元素的基础上，进一步创新企业文化 
的内涵，完善中国银行企业文化理念，提炼出了具有百年中行特色的核心价值观——“追求 
卓越、诚信、绩效、责任、创新、和谐”。 
2007 年，本行将逐步加大企业文化推广力度，使中国银行“追求卓越”及与之形成有力 
支撑的“诚信、绩效、责任、创新、和谐”的核心价值观深入人心，并将其融入本行业务流 
程、管理流程、it 蓝图建设等各项经营管理和业务发展中。以核心价值观引导并不断激发员 
工的积极性和创造力，增强凝聚力和归属感，树立中国银行的良好信誉和品牌形象。 
与战略投资者的合作 
2006 年本行与苏格兰皇家银行、亚洲金融、瑞士银行以及亚洲开发银行等 4 家战略投资 
者的合作不断深化，对本行业务的发展和公司治理机制的完善起到了积极的作用。 
概况 
2006 年本行与苏格兰皇家银行共召开了 4 次联合指导委员会会议。苏格兰皇家银行累计 
派出 7 批、47 名专家先后驻本行工作。苏格兰皇家银行专家还为中行提供了信用风险、操作 
风险、市场风险、财务管理、项目融资、财富管理、信用卡等重点领域的培训，培训面覆盖 
总行相关部门总经理及海内外业务骨干约 500 人次。本行已与瑞士银行也成立联合指导委员 
会，2006 年瑞士银行共向本行派驻了 3 名专家。 
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公司金融业务 
本行积极推进与苏格兰皇家银行在飞机融资、船舶融资、银团贷款、供应链融资、客户 
推介及业务培训等方面的合作，并取得显著进展。2006 年，本行与苏格兰皇家银行已在海内 
外多个大型项目上成功合作，扩大了本行对优质客户的高端产品服务能力，其中双方合作的 
上海时代航运船舶融资项目，获得英国 jane’s “2006 年度亚洲船舶融资奖”；与苏格兰皇 
家银行召开了供应链融资研讨会，深入探讨有关业务模式；与苏格兰皇家银行及其在美国的 
子公司 citizen 银行在客户推荐服务方面已开展合作。分享亚洲金融在小企业服务方面的经 
验，促进了本行小企业业务服务模式的形成。同时，本行与战略投资者在公司业务组织架构、 
流程整合及高端融资业务的培训方面开展了成功的合作，进一步促进了本行管理水平的提高。 
在与瑞士银行的合作中，瑞士银行向中银投成功推介了由该行牵头的一些 ipo 项目，在本行 
收购新加坡飞机租赁公司过程中提供了协助，双方还在 npl 和发行 reits 方面展开初步探索。 
个人金融业务 
本行稳步推进与苏格兰皇家银行集团有限公司（苏格兰皇家银行）合作的信用卡业务单 
元的建设工作，双方成立了银行卡业务单元管理委员会，指导银行卡业务单元的筹建和业务 
发展，总行任命了新的银行卡中心管理层。本行现正考虑与苏格兰皇家银行合作范围扩大为 
对包括贷记卡、准贷记卡和商户收单在内的银行卡业务进行全面合作，双方共同编制 
2007-2011 年信用卡财务计划；协作开发基于中银信用卡数据的内部评分卡系统，建立了风 
险预算以及对预算的跟踪评价机制。根据相关的监管规定，本行与苏格兰皇家银行的业务合 
作，将构成上交所上市规则项下的关连交易，本行将按照相关规定进行披露。此外，双方在 
人力资源、it、财务管理、市场营销、数据分析等方面的合作取得进展。 
本行与苏格兰皇家银行在私人银行业务领域开展了深入的战略合作，双方签署了合作意
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向书，组建了联合工作组，在人力资源、产品服务、品牌营销、it 系统、风险管理以及网点 
建设等方面加快推进北京、上海两个私人银行部的筹建工作。 
金融市场业务 
本行与苏格兰皇家银行多次安排协调会、讲座、培训和研讨会，并在业务中积极合作共 
赢。2006 年，双方外汇交易量翻了一番，债券交易量增长了 25%以上。与此同时，双方还搭 
建了 ebs (electronic broking system): 电子经纪系统及外汇交易系统，为未来的合作奠定 
了更为坚实的基础。此外，本行还与瑞士银行进行了多次资金业务领域的研讨和交流活动。 
风险管理 
苏格兰皇家银行派遣了4名风险领域的专家常驻本行工作。在操作风险管理方面，苏格兰 
皇家银行在操作风险分类指引、风险与控制评估工作流程、关键风险指标工作流程等多个领 
域提供了技术支持和核心管理人员培训，协助本行制定并推进了操作风险与控制评估与关键 
风险指标（raca&kri）工作流程及试点实施方案，并提供了反洗钱培训框架和相关反洗钱 
具体规定的框架。本行派出了2名业务骨干赴苏格兰皇家银行进行操作风险和反欺诈管理进行 
了为期3个月的岗位培训。在信贷风险管理领域，苏格兰皇家银行派驻专家协助本行设计公司 
信贷分析和贷款结构培训课程以及零售贷款信贷评分卡，还多次通过风险管理讲座和赴苏格 
兰皇家银行实地考察等形式向本行介绍了苏格兰皇家银行的风险管理经验。在市场风险管理 
领域，苏格兰皇家银行专家主要协助本行进行市场风险管理框架建设。 苏格兰皇家银行在本 
行集团市场风险限额设定、市场风险管理政策制定、投资组合市场风险测算等领域提供了技 
术支持，并启动了 “资金业务前中后线风险控制评估项目”。瑞士银行向本行派遣了3名专家 
在市场风险管理政策体系的构建、交易产品风险因素的梳理以及var报告等领域提供了为期3 
个月的技术支持。此外，adb也在反洗钱、操作风险和内控等领域提供了专家咨询建议。 
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司库和资本管理 
本行考察学习了苏格兰皇家银行内部资金转移、司库、计划和预算及产品定价等领域的 
经验和做法。借鉴苏格兰皇家银行经验，本行拟定了《中国银行内部资金转移体系目标指引》 
及实施方案。瑞士银行向本行介绍了瑞士银行在司库管理、利率风险管理、流动性管理、筹 
资管理、集团司库筹资等领域的管理经验。 
人力资源和流程整合 
本行与苏格兰皇家银行在领导力模型开发、领导力发展、人力资源共享服务、人力资本 
管理以及业务架构等领域开展交流与合作。苏格兰皇家银行专家为本行领导力模型的开发提 
供咨询建议；中行派出了 8 名高管人员参加了苏格兰皇家银行依托哈佛大学开发的领导力课 
程；在苏格兰皇家银行的协助下，我们与哈佛商学院达成了合作共识，并签订了课程开发合 
作协议；在苏格兰皇家银行的协助下，本行对苏格兰皇家银行集团管理架构和管理机制进行 
了全面考察，为本行的业务架构与流程整合提供了借鉴。 
信息科技 
苏格兰皇家银行先后派出 3 批 18 人次就中行核心银行系统对中行提供帮助，其中包括 
委派专家评估组到中行协助进行核心银行系统的选型工作，介绍有关核心银行系统及相关应 
用系统情况，就有关 it 系统的建设进行经验交流等。2006 年本行选派了信息科技部和信息中 
心的 2 名管理人员赴苏格兰皇家银行集团信息科技部门进行了为期 3 个月的学习。 
公司荣誉与责任 
所获奖项 
2006 年，本行各项工作的优异成绩等到了国内外知名媒体的一致好评，所获
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奖项涵盖商业银行业务和管理体系各个方面。 
《新兴市场》 2006 年亚洲地区年度最佳银行 
《银行家》 世界 1000 家大银行排名 17 位 
《环球金融》 中国最佳外汇银行 
中国最佳贸易融资银行 
《财资》 2006 年度 aaa 奖项中国地区最佳现金管理银行、中国地区最 
佳贸易融资银行 
《亚洲风险》 2006 年度中国最佳银行 
《财富》 全球企业 500 强列 255 位 
最受赞赏的中国公司（《财富》中文版） 
《亚洲货币》 中国最佳现金管理银行(本地大型公司投票选出) 
《亚洲法律事务》 银行和财经服务业公司法务组大奖（获奖机构中唯一的 
国内金融机构） 
优信咨询（universum） 大学生心目中最理想雇主奖（再次荣获） 
《二十一世纪经济报道》 2006 年亚洲银行最佳国际业务奖 
《投资者关系》 中国市场企业交易最佳投资者关系 
香港市场 ipo 最佳投资者关系 
第十四届中国国际金融（银行）技术暨设备展览会 金融业务创新奖（“报关 
即 时 通 -先放后税”产品） 

116 
公益事业 
本行以构建和谐社会为己任，一贯支持社会公益事业，通过各种方式回馈社 
会。多年来在扶贫救济、赈灾救助、帮助残疾人和社会弱势群体、赞助文化体育活 
动等方面做出了应有的贡献。 
扶 贫 救 灾 2006 年，本行连续第四次派遣扶贫工作队赴陕西咸阳地区展开 
定点扶贫工作。工作队肩负重托，心系贫困群众疾苦，求真务实，真抓实干，完成 
了饮水工程等基础设施建设，兴建改建多所中小学校，救助失学儿童 100 名，资助 
贫困大学生 30 余名。改善了贫困地区的教育落后状况，切实为群众解决生活难题， 
受到当地群众的好评。 
抗灾赈灾捐赠 2006 年，本行向遭受台风袭击的浙江、广东等地区，遭受地震灾害的新 
疆喀什地区，通过捐款的方式，先后提供逾百万的赈灾资金，帮助恢复生产，开展灾后重建， 
用实际行动向灾区群众送去中行人的关怀和帮助。 
热心儿童基金事业 本行是最早参与中国儿童少年基金会“爱心募捐箱”活动的单位之 
一，截至 2006 年底，共设置募捐箱 1,700 余个，为中国儿童少年基金会筹集善款百万余元。 
本行荣获中国儿童少年基金会 “最佳热爱儿童爱心单位”荣誉称号。 
文化教育 开办高校教育助学贷款 截至 2006 年末，本行继续为全部 115 所中央部属 
高校提供教育助学贷款，向家庭贫困的莘莘学子提供经济支持，帮助其完成学业。自开办教 
育助学贷款业务以来累计发放助学贷款 179 亿元人民币；截止 2006 年底，本行向家庭贫困 
学生提供教育贷款余额已逾 69.5 亿元人民币。 
本行与中国科学院共同设立了陈嘉庚科学奖基金会，奖励近期取得杰出科技成果的我国优秀科学家。 
陈嘉庚科学奖共设五个奖项：数理科学奖（包括数学、物理学、力学、天文学）、化学科学奖、生命科学
117 
奖（包括生物学、医学、农学）、地球科学奖和技术科学奖。陈嘉庚科学奖每两年评选一次。2006 年，该 
基金会第一次颁奖，取得了良好的社会反响，积极促进了中国科学技术事业的发展。 
金融服务体育事业 2006 年 2 月，应北京奥组委及国家体育总局要求，本行作为北京 
2008 年奥运会银行合作伙伴组建中国银行都灵冬奥会现场金融服务小组，为参加第 20 届冬 
奥会的中国体育代表团及北京奥组委提供全面金融服务。 
2006 年 12 月，本行派遣金融服务小组赴卡塔尔多哈为参加第十五届亚运会的中国体育 
代表团提供现场金融服务。 
2006 年，本行举办了多次奥运主题活动，如“携手北京市民开展长走活动共迎奥运”大 
型奥运主题宣传活动，在天津市举办了“真实的了解，真挚的关爱-中国银行迎奥助残与您同 
行”大型主题活动，举办了“杭州市全民奥运行暨中国银行奥运节”主题活动。推动了普通 
市民了解奥运、参与奥运。 
2006 年，本行提供了多项体育赞助。本行冠名赞助了国际体联在上海举办的 2006 体操 
世界杯中国站比赛。2006 年 8 月，本行赞助了在北京举办的“好运北京”第十一届世界女子 
垒球锦标赛及在青岛举办的“好运北京”2006 年青岛国际帆船赛，并为两项赛事提供了现场 
金融服务。 
股本变动和主要股东持股情况 
报告期内股份变动情况表 
单位：股 
2006 年 1 月 1 日 报告期内增减 2006 年 12 月 31 日 
数量 比例 
上市前发行 
股份 
发行 h 股 发行 a 股 其他 小计 数量 比例 
一、有限售条件股份 173,487,740,209 68.34% 
1、国家持股 (发起 
人股份) 174,128,718,217 83.15% -2,803,313,477 -2,803,313,477 171,325,404,740 67.49%
118 
2、国有法人持股 8,514,415,652 -8,514,415,652 0 
3、其他内资持股 3,038,959,000 -876,623,531 2,162,335,469 2,162,335,469 0.85% 
其中： 
境内法人持股 
境内自然人持股 
4、外资持股 35,298,644,140 16.85% -35,298,644,140 -35,298,644,140 
其中： 
境外法人持股 35,298,644,140 16.85% 
-35,298,644,140 -35,298,644,140 
境外自然人持股 
二、无限售条件股份 80,351,421,800 31.66% 
1、人民币普通股 3,454,547,000 876,623,531 4,331,170,531 4,331,170,531 1.71% 
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 29.95% 
4、其他 
三、股份总数 209,427,362,357 100.00% 8,514,415,652 29,403,878,000 6,493,506,000 0 44,411,799,652 253,839,162,009 100.00% 
注：1、2006 年 3 月 13 日本行向全国社会保障基金理事会发行普通股 8,514,415,652 股。 
2、 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 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,上述共计发行 29,403,878,000 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转持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 股并在香港联交所上市。 
3、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。本行此次 a 股公开发行股份中包括向 14 家战略投资者配售的锁定期为 18 个月的 
1,285,712,000 股，网下投资者配售的锁定期为 3 个月的 876,623,531 股，锁定期为 6 个月的 876,623,469 
股，以及无限售条件的 3,454,547,000 股。网下投资者配售部分已经分别于 2006 年 10 月 5 日及 2007 
年 1 月 5 日解冻上市流通。 
4、截止 2006 年 12 月 31 日，本行共发行 a 股 177,818,910,740 股， h 股 76,020,251,269 股，总股份数 
为 253,839,162,009 股。 
5、此表中所指的“限售条件”仅就本行已发行的 a 股而言。 
6、报告期内，本行无送股及公积金转股情形。 
报告期内股东情况 
股东数量和持股情况 
股票发行及上市情况 
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 25,568,590,000 股，
119 
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 11.89％， 
每股股价为 2.95 港元。此次发行本行合计筹资总额约为 867 亿港元。本行于 6 月 19 日至 23 日在境内成 
功发行 a 股，7 月 5 日于上海证券交易所上市。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％；募集资金总额约为 200 亿元人民币。 
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，本行的总股份数 
增加至 253,839,162,009 股，股本为 253,839,162,009 元人民币。 
次级债券的募集及使用情况 
本行次级债券的募集情况请参见会计报表及注释五、19。本行发行次级债券的目的在于 
有效规避流动性风险，优化资产负债期限结构，本行将发行次级债券取得的长期资金用于发 
放中长期贷款，尤其是优质基础设施项目的中长期贷款。 
报告期内，本行没有发行次级债券。 
报告期末股东情况 
截至2006年12月31日，本行股东总数为846,127户。其中h股股东378,972户，a股股东467,155 
户。 
股东持股情况 
截至 2006 年 12 月 31 日止，有限售条件的 a 股股份可上市交易时间 （单位：股） 
时间 
限售期满新增可上市交易 
股份数量 
有限售条件股份 
数量余额 
无限售条件股份数量余 
额 
说明 
2007 年 1 月 5 日 876,623,469 172,611,116,740 5,207,794,000 
ipo 网下机构投资者配售股份 
（6 个月锁定）解冻 
2008 年 1 月 5 日 1,285,712,000 171,325,404,740 6,493,506,000 
ipo 战略投资者配售股份（18 
个月锁定）解冻 
2009 年 7 月 5 日 171,325,404,740 0 177,818,910,740 公司承诺 
注：汇金`公司承诺，自本行 a 股股票上市之日起 3 年内，不会转让或者委托他人管理汇金公司已直接和间接持有的本行 a 
股股份，也不由本行收购汇金公司持有的本行 a 股股份，但汇金公司获得中国证监会或国务院授权的任何证券审批机构批 
准转为 h 股的除外。就任何现有出售或转让汇金公司股份的限制，将不会因该等股份从中国证券登记结算有限责任公司撤 
回并将之重新登记入本行香港股份登记册受影响。 

120 
截至 2006 年 12 月 31 日止，前 10 名有限售条件 a 股股东持股数量及限售条件 （单位：股） 
序
号 有限售条件股东名称 
持有的有限售条件股 
份数量 可上市交易时间 
新增可上市交 
易股份数量 限售条件 
1 中央汇金投资有限责任公司 171,325,404,740 2009 年 7 月 5 日 
171,325,404 
,740 公司承诺 
2 
中国人寿保险(集团)公司－传统－ 
普通保险产品 144,559,043 见注释 见注释 锁定期 
3 
中国人寿保险股份有限公司－传 
统 － 普 通 保 险 产 品 － 005l － 
ct001 沪 123,376,000 2008 年 1 月 5 日 123,376,000 锁定期 
4 国家开发投资公司 90,909,000 2008 年 1 月 5 日 90,909,000 锁定期 
4 宝钢集团有限公司 90,909,000 2008 年 1 月 5 日 90,909,000 锁定期 
4 中国南方电网有限责任公司 90,909,000 2008 年 1 月 5 日 90,909,000 锁定期 
4 中国华能集团公司 90,909,000 2008 年 1 月 5 日 90,909,000 锁定期 
4 
中国人民财产保险股份有限公司 
－传统－普通保险产品－008cct001 
沪 90,909,000 2008 年 1 月 5 日 90,909,000 锁定期 
4 
中国再保险(集团)公司－集团本级 
－集团自有资金－007g－zy001 
沪 90,909,000 2008 年 1 月 5 日 90,909,000 锁定期 
4 中国海洋石油总公司 90,909,000 2008 年 1 月 5 日 90,909,000 锁定期 
4 
中国平安人寿保险股份有限公司 
－传统－普通保险产品 90,909,000 2008 年 1 月 5 日 90,909,000 锁定期 
4 神华集团有限责任公司 90,909,000 2008 年 1 月 5 日 90,909,000 锁定期 
4 中国航空集团公司 90,909,000 2008 年 1 月 5 日 90,909,000 锁定期 
4 中国铝业公司 90,909,000 2008 年 1 月 5 日 90,909,000 锁定期 
注释：在中国人寿保险(集团)公司－传统－普通保险产品持有的 144,559,043 股份中，47,157,043 股的锁定期已于 2007 
年 1 月 5 日解冻并上市流通；另外 97,402,000 股将于 2008 年 1 月 5 日解冻上市流通。 
截至 2006 年 12 月 31 日止，前十名股东持股情况（a+h） 
单位：股 
序
号 
股东名称 
股东 
性质 
股份类 
别 
持股总数 
占总股本比 
例% 
1 中央汇金投资有限责任公司 国有 a 171,325,404,740 67.49% 
2 香港中央结算（代理人）有限公司 外资 h 30,262,318,674 11.92% 
3 rbs china investments s.à.r.l. 外资 h 20,942,736,236 8.25% 
4 亚洲金融控股私人有限公司 外资 h 10,471,368,118 4.13% 
5 全国社会保障基金理事会 国有 h 8,377,341,329 3.30% 
6 瑞士银行 外资 h 3,377,860,684 1.33% 
7 亚洲开发银行 外资 h 506,679,102 0.20% 
8 the bank of tokyo-mitsubishi ufj ltd 外资 h 473,052,000 0.19% 
9 wingreat international limited 外资 h 420,490,000 0.17% 
10 best sense investments limited 外资 h 236,526,000 0.09% 
10 turbo top limited 外资 h 236,526,000 0.09% 
h 股股东持股情况根据 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统计。 
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本行未知上述股东的股份存在质押或冻结的情况，亦未知上述股东之间有关联关系。 
截至 2006 年 12 月 31 日止，前十名无限售条件 a 股股东持股情况 
单位：股 
序
号 
股份名称 持有无限售条件股份数量 
股份 
种类 
1 中国工商银行－南方绩优成长股票型证券投资基金 210,000,000 a 
2 中国农业银行－景顺长城内需增长贰号股票型证券投资基金 96,629,963 a 
3 中国工商银行－诺安价值增长股票证券投资基金 73,469,700 a 
4 国际金融－渣打－citigroup global markets limited 62,858,475 a 
5 中国工商银行－上证 50 交易型开放式指数证券投资基金 49,869,579 a 
6 中国工商银行－易方达价值精选股票型证券投资基金 42,000,000 a 
7 中国太平洋人寿保险股份有限公司－传统－普通保险产品 35,179,154 a 
8 天策投资管理咨询（上海）有限公司 31,575,159 a 
9 中国人寿保险股份有限公司－传统－普通保险产品－005l－ct001 沪 27,058,100 a 
10 兴和证券投资基金 25,843,028 a 
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。 
主要股东权益 
截至 2006 年 12 月 31 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 
列公司作为主要股东拥有本行的权益 (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 
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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 4,582,523,525 
1,084,612,402(s) 注 
3 
h – 6.03% 
1.43% 
1.81% 
0.43% 
应占权益，实益持有人 
及对股份持有保证权 
益的人 
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。 
3. “s”代表淡仓。 
除另有说明，上述全部权益皆属好仓。除上述披露外，于 2006 年 12 月 31 日，本行根据香港《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。 
公司控股股东情况 
中央汇金投资有限公司 
本行股东汇金公司，是根据中国法律于 2003 年 12 月 16 日注册成立的国有独资有限责任公司， 
注册资本 3,724.65 亿元人民币，实收资本 4,966.125 亿元人民币，法定代表人胡晓炼。汇金公司代 
表国家向本行行使投资者权利并履行相应义务，以及实施及执行国务院批准的股权投资、国家关于国 
有金融机构改革的政策安排。该公司并不从事任何其他商业性经营活动。 

123 
董事、监事及高级管理人员情况 
董事、监事及高级管理人员情况 
基本情况 
姓 名 年龄 性别 职 务 任 期 报告期内从公司领取的 
税前报酬总额（万元） 
是否在控股 
股东单位或 
其他关联单 
位领取 
肖钢 48 男 董事长 2004 年 8 月 
起至 2007 年 
8 月止 
152.3770 
是 
李礼辉 54 男 副董事 
长兼行 
长 
2004 年 8 月 
起至 2007 年 
8 月止 
152.8657 
是 
张景华 50 男 非执行 
董事 
2004 年 8 月 
起至 2007 年 
8 月止 
是 
俞二牛 57 男 非执行 
董事 
2004 年 8 月 
起至 2007 年 
8 月止 
是 
朱彦 50 女 非执行 
董事 
2004 年 8 月 
起至 2007 年 
8 月止 
是 
张新泽 60 男 非执行 
董事 
2004 年 8 月 
起至 2007 年 
8 月止 
是 
洪志华 54 女 非执行 
董事 
2004 年 8 月 
起至 2007 年 
8 月止 
是 
黄海波 54 女 非执行 
董事 
2004 年 8 月 
起至 2007 年 
8 月止 
是 
frederick 
anderson 
goodwin 
48 男 非执行 
董事 
2006 年 1 月 
起至 2009 年 
1 月止 
无 
124 
佘林发 60 男 非执行 
董事 
2006 年 6 月 
起至 2009 年 
6 月止 
无 
华庆山 53 男 执行董 
事、副行 
长 
2004 年 8 月 
起至 2007 年 
8 月止 
130.7831 
是 
李早航 51 男 执行董 
事、副行 
长 
2004 年 8 月 
起至 2007 年 
8 月止 
130.7235 
是 
梁定邦 60 男 独立非 
执行董 
事 
2004 年 8 月 
起至 2007 年 
8 月 
40 
无 
william 
peter 
cooke 
75 男 独立非 
执行董 
事 
2004 年 12 月 
起至 2007 年 
12 月止 
60.6464 
是 
patrick de 
saintaignan 
58 男 独立非 
执行董 
事 
2006 年 1 月 
起至 2009 年 
1 月止 
40 
无 
alberto 
togni 
68 男 独立非 
执行董 
事 
2006 年 6 月 
起至 2009 年 
6 月止 
14.5833 
无 
刘自强 58 男 监事会 
主席 
2004 年 8 月 
起至 2007 年 
8 月止 
131.2599 
无 
王学强 49 男 监事 2004 年 8 月 
起至 2007 年 
8 月止 
87.8334 
无 
刘万明 48 男 监事 2004 年 8 月 
起至 2007 年 
8 月止 
87.4247 
无 
李春雨 47 男 职工监 
事 
2004 年 12 月 
起至 2007 年 
12 月止 
47.8632 
无 
刘钝 43 男 职工监 
事 
2004 年 12 月 
起至 2007 年 
12 月止 
42.2972 
无 
周载群 54 男 副行长 2004 年 8 月 
起至 2007 年 
8 月止 
143.7055 
是 
张燕玲 55 女 副行长 2004 年 8 月 
起至 2007 年 
8 月止 
131.3222 
是 
125 
张林 50 女 纪委书 
记 
2004 年 8 月 
起至 2007 年 
8 月止 
123.0033 
无 
朱民 54 男 副行长 2006 年 8 月 
起至 2009 年 
8 月止 
119.3880 
无 
王永利 42 男 副行长 2006 年 8 月 
起至 2009 年 
8 月止 
118.7267 
无 
杨志威 52 男 董事会 
秘书 
2005 年 11 月 
起至 2008 年 
11 月止 
561.8777 
是 
诸鑫强 54 男 行长助 
理 
2003 年 11 月 
起至 2006 年 
8 月辞职 
103.0727 
是 
lonnie 
dounn 
54 男 信贷风 
险总监 
2005 年 3 月 
起至 2006 年 
9 月辞职 
791.5785 
无 
注：（1）报告期间，上述董事、监事及高级管理人员均不持有本行股份。 
（2）独立董事的报酬根据“中国银行股份有限公司第一届董事会第五次会议决议”确定；股东 
委派监事的报酬根据“中国银行股份有限公司 2005 年第二次临时股东大会决议”确定；独立董事和股东 
委派监事薪酬事项的审批程序为由董事会人事和薪酬委员会提出初步意见，由董事会审核，报股东大会审 
批决定。高级管理人员的报酬根据《中国银行高级管理人员薪酬管理办法》确定。职工监事作为我行员工， 
其报酬按照中国银行员工薪酬管理制度确定。 
（3）在股东单位任职的非执行董事不在本行领取任何报酬，其均在各自的任职单位领取报酬、津 
贴。 
本行为同时是本行员工的执行董事、监事和高级管理人员提供报酬，包括工资、奖金、 
现金性福利、退休福利、社会保险计划供款和住房公积金。本行独立非执行董事领取董事酬 
金及津贴。本行非独立非执行董事不在本行领取任何工资或董事袍金。 
本行 2006 年度支付全部董事、监事及高级管理人员的报酬总额为人民币 3,211.33 万元； 
为董事、监事及高级管理人员缴付的社会保险、补充保险及福利、住房公积金等供款为人民 
币 260 万元。 

126 
2006 年度本行董事、监事及高级管理人员报酬情况 
单位：万元人民币 
年度袍金及报酬总额 3,211.33 
独立董事的津贴及其他收入 155.23 
报酬区间 单位：人 
700-799 万元 1 
600-699 万元 0 
500-599 万元 1 
200-499 万元 0 
100-199 万元 11 
99 万元及以下 8 
董事、监事高级管理人员在股东单位任职情况 
除已披露者外，2006 年末，本行董事、监事、高级管理人员无在股东单位任职的情况。 
董事、监事、高级管理人员的主要工作经历和在其他单位任职或兼职 
情况 
董事 
陈慕华 名誉董事长 自 2004 年 8 月起任本行名誉董事长，曾任全国人民代表大会常务委员 
会副委员长。 
庄世平 名誉董事长 自 2004 年 8 月起任本行名誉副董事长，曾任中国人民政治协商会议常 
务委员会委员、南洋商业银行董事长及本行董事等职务。 
肖钢 董事长 自 2003 年 3 月起任本行董事长，并于 2003 年 3 月至 2004 年 8 月任本 
行行长。1996 年 10 月至 2003 年 3 月，肖先生曾担任中国人民银行行 
长助理及副行长，并于此期间先后兼任中国人民银行计划资金司司长、 
货币政策司司长、中国人民银行广东省分行行长及国家外汇管理局广东 
省分局局长。1989 年 10 月至 1996 年 10 月，历任中国人民银行政策 
研究处主任、中国外汇交易中心总经理、中国人民银行计划资金司司长
127 
等职务。肖先生 1981 年毕业于湖南财经学院金融系，1996 年于中国人 
民大学获得国际经济法硕士学位。自 2003 年 5 月起，肖先生出任中银 
香港控股之董事长。 
李礼辉 
副董事长兼行长 自 2004 年 8 月起任本行副董事长兼行长。2002 年 9 月至 2004 年 8 月 
任海南省副省长。1994 年 7 月至 2002 年 9 月任中国工商银行副行长。 
1988 年至 1994 年 7 月曾任中国工商银行多个职位，包括福建省分行副 
行长、驻新加坡首席代表、国际业务部总经理等职务。李先生 1977 年 
毕业于厦门大学经济系金融专业，拥有北京大学光华管理学院金融学专 
业的经济学博士学位。自 2005 年 6 月起，李先生兼任中银国际控股董 
事长。2006 年 12 月起，李先生兼任渤海产业投资管理有限公司董事长。 
华庆山 执行董事、副行 
长 
自 2004 年 8 月起任本行执行董事。于 1994 年加入本行，并于 1994 年 
5 月至 1998 年 12 月任本行行长助理。自 1998 年 12 月起至今任本行 
副行长。他目前兼任 visa international asia pacific 董事。华先生 1996 
年在湖南大学获得工程硕士学位。自 2002 年 6 月起，华先生担任中银 
香港控股非执行董事。 
李早航 执行董事、副行 
长 
自 2004 年 8 月起任本行执行董事。李先生于 2000 年 11 月加入本行并 
自此担任本行副行长。他于 1980 年 11 月至 2000 年 11 月任职于中国 
建设银行，曾工作于多个岗位，先后担任经理、分行行长、总行多个部 
门的总经理及副行长。李先生 1978 年毕业于南京信息工程大学。自 2002 
年 6 月起，李先生担任中银香港控股非执行董事。 
张景华 
非执行董事 自 2004 年 8 月起任本行非执行董事。1993 年 1 月至 2004 年 8 月期间， 
张先生曾任中国证监会上市公司部主任、市场监管部主任、基金监管部 
主任、国际合作部主任和规划发展委员会委员。张先生于 1982 年毕业 
于东北林学院，1988 年获得美国纽约州立大学工商管理硕士学位。 
俞二牛 
非执行董事 自 2004 年 8 月起任本行非执行董事。1987 年 10 月至 2004 年 8 月期 
间，俞先生曾出任财政部多个职位，包括人事教育司司长。俞先生曾于 
首都经贸大学修读经济法硕士研究生课程并于 2001 年毕业。 
朱彦 
非执行董事 自 2004 年 8 月起任本行非执行董事。1994 年 8 月至 2004 年 8 月期间， 
朱女士曾任财政部监督检查局助理巡视员和副局长、中企处副处长、派 
出机构管理二处处长、中央一处处长、检查一处处长。1993 年 9 月至 
1994 年 7 月曾任财政部驻辽宁省财政厅鞍山中央企业财政驻厂员组副
128 
组长并主持工作。1990 年 3 月至 1993 年 9 月曾任鞍山市财政局鞍钢财 
政驻厂员组组长。自 1983 年 10 月至 1990 年 2 月历任鞍山客车制造总 
厂财务科长、副总会计师、副厂长。朱女士曾于中国社会科学院修读投 
资管理硕士研究生课程并于 1998 年毕业，及于中央党校修读法律并于 
2001 年毕业。朱女士亦曾于中央党校修读世界经济硕士研究生并于 
2006 年 1 月毕业。朱女士为高级会计师及中国注册会计师协会的注册 
会计师。 
张新泽 非执行董事 自 2004 年 8 月起任本行非执行董事。1975 年 5 月至 1978 年 10 月、 
1982 年 9 月至 2004 年 8 月期间，张先生就职于中国人民银行，曾在调 
查统计司任副司长、巡视员，在征信管理局任巡视员及信贷征信服务中 
心副主任。张先生为研究员，1982 年于中国人民大学财政系财政金融 
专业取得经济学学士学位。 
洪志华 非执行董事 自 2004 年 8 月起任本行非执行董事。1982 年 1 月至 2004 年 8 月期间， 
洪女士曾出任国家外汇管理局多个职位，包括政策法规司副司长、国际 
收支司副司长、综合司巡视员。洪女士具有高级经济师职称，1982 年 
毕业于云南大学，获得文学学士学位。 
黄海波 非执行董事 自 2004 年 8 月起任本行非执行董事。1977 年 8 月至 2004 年 8 月期间 
曾出任中国人民银行多个职位，曾任国库局副局长等职。黄女士毕业于 
山西财经大学会计系，且为高级会计师及中国注册会计师协会的注册会 
计师。 
frederick 
anderson 
goodwin 
佘林发 
非执行董事 
非执行董事 
自 2006 年 1 月起出任为本行非执行董事。frederick goodwin 爵士是 
rbs 集团的集团总裁。1998 年加入 rbs 集团前，曾在 1995 年至 1998 
年担任 clydesdale bank plc 总裁一职，1988 年至 1995 年期间为 
touche ross 的合伙人，目前兼任 prince's trust 的主席。frederick 
goodwin 爵士 1979 年毕业于格拉斯哥大学，获得法律学士学位。本行 
战略投资者 rbs china 是 rbs 集团的附属公司。自 1998 年 8 月起， 
frederick goodwin 爵士一直是 rbs 集团（为全球规模最大的银行及 
金融服务集团之一的控股公司，其股份主要于伦敦证券交易所上市）董 
事。 
自 2006 年 6 月起出任为本行非执行董事。佘先生现为淡马锡控股（私 
人）有限公司的淡马锡顾问小组成员及印尼国际银行总裁专员。2001 年
129 
至 2004 年期间，佘先生担任新加坡科技私人有限公司总裁及首席执行 
官。此前，佘先生在银行业拥有超过 32 年的经验。佘先生曾在新加坡 
华联银行有限公司担任多个主要职位，包括于 1991 年至 2001 年期 
间担任副主席及首席执行官，于 1982 年至 1985 年期间担任总经理。 
1985 年至 1991 年期间，佘先生担任 新加坡国际商业银行执行董事 
及首席执行官。佘先生于 1968 年毕业于新加坡大学并取得商业管理 
（荣誉）学士学位。佘先生担任下列公司的董事：嘉德置地有限公司 
（2001 年起）、特许半导体制造公司（2002 年起）、胜科工业有限 公 
司（1998 年起）、汇商银行（1999 年起）、星和有限公司（2002 年 
起）、环球电讯公司（2003 年起）、新加坡电脑系统集团公司（2005 
年起）、stats chippac 公司（2002 年起）、pt 印尼国际银行（2004 
年起）、印尼 pt indosat tbk 公司（2004 年起）、上述公司为在新 
加坡、泰国、印尼及/或美国证券交易所所上市的公司。 
梁定邦 独立非执行董事 自 2004 年 8 月起任本行独立非执行董事。现任中国证监会国际顾问委 
员会委员及全国人民代表大会常务委员会香港特别行政区基本法委员 
会委员，曾任中国证监会首席顾问、香港证监会主席、香港联交所理事 
会及上市委员会委员、香港高等法院暂委法官、香港政府政务主任等职 
务。1996 年至 1998 年期间，梁先生曾任国际证券管理机构组织技术委 
员会主席。他于 1990 年获委任为香港御用大律师(现改称资深大律师)。 
梁先生于 1976 年毕业于伦敦大学，获得法律荣誉学位，并具英格兰及 
威尔斯大律师和加州律师协会资格。2002 年 11 月至 2005 年 12 月期 
间，梁先生出任环球数码创意控股有限公司非执行董事，并于 2004 年 
9 月至 2006 年 3 月期间，出任领汇房地产投资信托基金管理人领汇管 
理有限公司的独立非执行董事。自 2004 年 11 月起，梁先生任中国神华 
能源股份有限公司独立非执行董事。环球数码创意控股有限公司的股份 
于香港联交所创业板上市，领汇房地产投资信托基金的基金单位及中国 
神华能源股份有限公司的股份分别于香港联交所主板上市。 
william peter 
cooke 
独立非执行董事 自 2004年12月起任本行独立非执行董事。曾在英格兰银行任职 33 
年，曾任联合董事和银行监管主管，至1988年退休。1977年至1988年， 
兼任国际清算银行巴塞尔银行管理及监督委员会主席，该委员会领导制
130 
订了《巴塞尔资本协议》。1989年至2002年，cooke 先生出任 price 
waterhouse world regulatory advisory practice 的主席，以及 
pricewaterhousecoopers 的顾问。1996年至1998年，cooke先生曾任 
中银国际（英国）有限公司董事。自1992年、1998年及1999年起，cooke 
先生分别出任 financial security assurance (u.k.) ltd.、state street 
bank (u.k.) ltd.及中银国际（英国）有限公司的非执行董事。cooke 先 
生拥有英国牛津大学默顿学院现代史学士学位及硕士学位。 
patrick de 
saint-aignan 
独立非执行董事 自2006年 1 月出任本行独立非执行董事。de saint-aignan 先生是摩根 
士丹利的高级顾问及前任董事总经理，自 1974 年加入摩根士丹利以 
来，出任公司风险总监、 morgan stanley sa, france 主席，以及债务 
资本市场主管及衍生工具产品业务组主管等多个职位。 1985 年至 
1992 年期间任国际掉期业务及衍生投资工具协会的董事及主席。de 
saint-aignan 先生也是 ixis corporate and investment bank 监事会 
的法定顾问 (statutory advisor)，该行是natixis的一个分支机构。de 
saint-aignan 先 生 1971 年 毕 业 于 ecole des hautes etudes 
commerciales，并在 1974 年以优异成绩取得哈佛商学院工商管理硕 
士学位。 
alberto togni 独立非执行董事 自 2006 年 6 月出任本行独立非执行董事。togni 先生于 1959 年加盟瑞士银行 
（swiss bank corporation，现瑞士银行前身），而待瑞士银行及瑞士联合银行（union 
bank of switzerland）于 1998 年合并成为瑞士银行（ubs ag）后，继续于瑞士 
银行留任，直至 2005 年 4 月退休为止。在其于瑞士银行任职的 46 年期间，togni 
先生曾担任多个职务。1998 年至 2005 年，togni 先生为瑞士银行执行副主席， 
主管集团的风险状况。1994 年至 1997 年，togni 先生为瑞士银行的集团首席信 
贷官及首席风险官。在 1994 年前，togni 先生在瑞士银行担任各种职务，负责该 
行在全球的信贷组合。togni 先生持有瑞士商学院（swiss business school）银行 
专业证书。togni 先生于 1965 年 获得纽约金融学院（new york institute of 
finance）投资分析学位。 
注：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。 
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监事 
刘自强 监事会主席 自 2004 年 8 月起任本行监事会主席。2003 年 7 月至 2004 年 8 月， 
本行进行公司重组前，刘先生任本行监事会主席。2000 年 6 月至 
2003 年 7 月任中国农业发展银行监事会主席。1997 年 4 月至 2000 
年 6 月任中国建设银行副行长。1995 年 2 月至 1997 年 4 月任中国 
建设银行资金计划部总经理。1986 年 11 月至 1994 年 5 月曾在深 
圳多家金融机构任职，历任深圳发展银行筹备组负责人、深圳市农 
业银行副行长、深圳发展银行代行长、董事长及总经理。刘先生 1984 
年获得中国人民银行研究生部经济学硕士学位。 
王学强 监事 自 2004 年 8 月起任本行正局级专职监事。2003 年 7 月至 2004 年 
8 月，本行进行公司重组前，王先生任本行副局级、正局级专职监 
事。2001 年 10 月至 2003 年 7 月期间任国务院派驻的中国农业发 
展银行副局级专职监事。1985 年 4 月至 2001 年 10 月，先后就职 
于财政部、中央金融工委。王先生于 1996 年及 1998 年获得中央财 
经大学和中国人民大学学士学位，且为中国注册会计师协会的注册 
会计师。 
刘万明 监事 自 2004 年 8 月起任本行副局级专职监事。此前于 2001 年 11 月至 
2004 年 8 月，分别任国务院派驻的交通银行及本行正处级、副局级 
专职监事。1984 年 8 月至 2001 年 11 月，先后就职于国家审计署、 
中国农业发展银行及中央金融工委。刘先生于 1984 年获得江西财经 
大学经济学学士学位。 
李春雨 职工监事 自 2004 年 12 月起任本行职工监事。自 2000 年 8 月起，李先生一 
直任中国银行总行机关工会主席。1992 年至 2000 年 7 月就职于本 
行人事部。李先生具有大专学历。 
刘钝 职工监事 自 2004 年 12 月任本行职工监事。1991 年至今，先后就职于本行 
山东省分行国际结算处、信贷业务处、公司业务处。刘先生于 1991 
年获得中国科技大学经济学硕士学位。 

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高级管理人员 
李礼辉 行长 请参见董事一节 
华庆山 执行董事、副行长 请参见董事一节 
李早航 执行董事、副行长 请参见董事一节 
周载群 副行长 自 2000 年 11 月起任本行副行长，2000 年 11 月至 2004 年 8 月兼任 
万事达卡国际组织亚洲太平洋区副总裁兼董事。加入本行前，周先生 
于 1999 年 12 月至 2000 年 11 月任中国工商银行北京市分行行长， 
1997 年 1 月至 1999 年 12 月历任中国工商银行财会部总经理及计划 
财务部总经理。周先生于 1996 年在东北财经学院获得硕士学位。自 
2002 年 6 月起，周先生担任中银香港控股非执行董事。 
张燕玲 副行长 自 2002 年 3 月起任本行副行长。张女士于 1977 年加入本行，2000 
年 10 月至 2002 年 3 月任本行行长助理。1997 年 4 月至 2002 年 8 
月，张女士先后担任、兼任本行营业部总经理、米兰分行总经理及法 
律与合规部总经理。自 2003 年 7 月起，张女士亦担任国际商会银行 
业委员会副主席。张女士于 1977 年毕业于辽宁大学，1999 年在武汉 
大学获得硕士学位。自 2002 年 6 月起，张女士担任中银香港控股非 
执行董事。2003 年 9 月起先后兼任中银国际控股有限公司董事长、副 
董事长。 
张林 纪委书记 自 2004 年 8 月起任本行纪委书记。加入本行前，张女士曾于中国进 
出口银行担任不同职务，包括自 2002 年 6 月至 2004 年 8 月任行长助 
理，及于 1998 年 8 月至 2002 年 7 月任人事教育部副主任、主任。张 
女士 1983 年毕业于内蒙古自治区委党校政治经济学专业。 
朱民 副行长 自 2006 年 8 月起任本行副行长。朱先生于 1996 年加入本行，于 2003 
年 11 月起任本行行长助理，他曾先后担任本行国际金融研究所所长， 
中银香港重组上市项目总经理；本行重组上市办公室主任；亦担任中 
银香港董事会秘书部总经理。朱先生于 1982 年毕业于复旦大学，获 
学士学位，并拥有美国普林斯顿大学公共事务硕士学位和美国霍普金 
斯大学博士学位。 
王永利 副行长 自 2006 年 8 月起任本行副行长。王先生于 1989 年加入本行，自 2003 
年 11 月起任本行行长助理。自 1999 年 4 月至 2004 年 1 月于本行担
133 
任不同职务，包括资产负债管理部总经理、福建省分行常务副行长及 
行长，以及河北省分行行长。王先生于 1987 年毕业于中国人民大学， 
获得硕士学位，并于 2005 年获得厦门大学博士学位。 
杨志威 董事会秘书 于 2005 年 11 月获委任为本行董事会秘书及公司秘书。此外，杨先生 
亦任中银香港控股及中银香港的公司秘书。加入中银香港前，杨先生 
曾任中国光大控股有限公司总法律顾问兼董事，此前为胡关李罗律师 
行合伙人。杨先生亦曾在香港证监会任企业融资经理。杨先生 1978 
年毕业于香港大学，取得社会科学学士学位，1985 年于英国法律学院 
毕业，于 1991 年获得加拿大西安大略大学法律学士学位，于 2001 年 
在该大学 richard ivey 商学院取得工商管理硕士学位。 
报告期内董事、监事及高级管理人员的变更 
报告期内本行董事的变更情况请参见公司治理一节中董事和董事会内容。 
报告期内本行监事无变更情况。 
报告期内本行高级管理层的变更情况如下： 
（1）信贷风险总监 lonnie dounn 于 2006 年 4 月因个人原因提出辞任，于 2006 年 9 
月生效。 
（2）本行董事会于2006年8月29日召开会议，审议批准任命朱民先生为中国银行 
副行长，王永利先生为中国银行副行长；批准诸鑫强先生辞去中国银行行长助理职务。 
公司治理 
2006 年，本行遵守《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，继续提升公司治理水平，不断完善由股东大会、董事会、监事会和高级管理层构建
134 
的现代股份制公司治理架构。本行进一步修订了《公司章程》，各方按照《公司章程》赋予的 
职责，依法独立运行，履行各自权利和义务。 
按照香港上市规则附录十四《企业管治常规守则》，本行逐渐建立和完善了有关制度， 
目前本行已符合《企业管治常规守则》中的守则条文，同时符合其中所列明的绝大多数建议 
最佳常规。本行亦遵循经营所在地的法律法规以及相关监管机构 
的各项规定和指引。 
公司治理架构 
本行公司治理架构核心为董事会。董事会负责给予高级管理层指引和有效监控，并与高 
级管理层的经营管理相分离。董事会主要负责决定本行的战略方针和经营计划；制订年度财 
务预算、利润分配等重大方案；批准年度及中期业绩；聘任专业委员会委员和高级管理人员； 
审定本行基本管理制度；提请聘请、续聘或更换为本行审计的会计师事务所；听取高级管理 
层的工作汇报并检查高级管理层的工作。 
董事会下设战略发展委员会、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，负责从不同方面协助董事会履行职责。为避免权力过度集中，本行董事长 
和行长由两人分别担任。 
本行公司治理架构图示如下。 
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股东和股东大会 
股东大会是本行的权力机构。本行建立了与股东沟通的有效渠道，确保所有股东享有平 
等地位，确保所有股东对本行重大事项的知情权、参与权和表决权。2006 年，本行按照《公 
司章程》的规定召开了年度股东大会和 4 次临时股东大会，主要审议了董事会工作报告和监 
事会工作报告、聘用外部审计师和审计费用、修改公司章程、年度财务报告、发行股票并上 
市、聘任独立非执行董事和非执行董事、利润分配方案等相关议案，对本行顺利发行 h 股、 
a 股并于香港、上海两地成功上市，推动本行长期、稳健、可持续发展具有重要意义。 
董事和董事会 
董事会是本行的决策机构，对股东大会负责。2006 年，本行董事会增补了 2 名独立非执 
行董事和 2 名非执行董事。patrick de saint-aignan 先生、alberto togni 先生分别于 2006 
年 1 月 14 日和 2006 年 6 月 1 日起获委任为本行独立非执行董事，frederick anderson 
goodwin 爵士、佘林发先生亦分别于 2006 年 1 月 14 日和 2006 年 6 月 1 日起获委任为本
136 
行非执行董事。目前，本行董事会由 16 名成员组成，除董事长外，还有 4 名独立非执行董 
事、8 名非执行董事和 3 名执行董事。关于董事会成员的详细资料，请参见本年报中董事、 
监事及高级管理人员情况一节。 
本行董事长肖钢同时出任中银香港控股董事长，执行董事华庆山和李早航同时出任中银 
香港控股非执行董事。 
本行 2006 年为董事会成员购买了董事责任保险，为本行董事依法履职过程中可能产生 
的赔偿责任提供保障。 
2006 年，本行董事会于 1 月 29 日、3 月 7 日、3 月 27 日、4 月 17 日和 20 日、6 月 2 
日、8 月 29 日、10 月 30 日和 12 月 14 日共召开了 8 次会议（包括 3 次临时会议），并以通 
讯表决方式通过了 7 个决议，主要就本行发展战略、业务计划和财务预算、财务报告、利润 
分配方案、董事会自我评估方案、修改公司章程、聘用外部审计师和审计费用、高层管理人 
员考核结果及奖金分配方案、聘任非执行董事和独立董事、上市发行相关事项、高级管理人 
员变动、市场风险限额、业务架构和流程整合总体框架方案，以及中国银行信息披露政策等 
事项进行了审议。另外还听取了审计师管理建议书及管理层回应、银监会现场检查情况及本 
行执行整改情况、it 蓝图实施进展情况等报告。 
本行董事会会议平均出席率达 96%，各位董事参加董事会会议的出席率列示如下： 
董事 出席董事会会议次数注 1 出席率 
肖钢 8 次中出席 8 次 100% 
李礼辉 8 次中出席 8 次 100% 
张景华 8 次中出席 8 次 100% 
俞二牛 8 次中出席 8 次 100% 
朱彦 8 次中出席 8 次 100% 
张新泽 8 次中出席 8 次 100% 
洪志华 8 次中出席 8 次 100% 
黄海波 8 次中出席 8 次 100% 
frederick anderson 
goodwin 注 2 
8 次中出席 5 次 63% 
佘林发注 3 4 次中出席 4 次 100% 
华庆山注 4 8 次中出席 7 次 88% 
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李早航 8 次中出席 8 次 100% 
梁定邦 8 次中出席 7 次 88% 
william 
peter cooke 
8 次中出席 8 次 100% 
patrick de 
saint-aignan 
8 次中出席 8 次 100% 
alberto togni 注 3 4 次中出席 4 次 100% 
注 1：按照本行《公司章程》的规定，董事可以委托其他董事代为出席董事会会议及行使其表决权。 
注 2：frederick anderson goodwin 爵士未能亲自出席 1 月 19 日、3 月 27 日、12 月 14 日董事会会议，其中 3 月 27 日、 
12 月 14 日分别委托其他董事代为出席并行使表决权。 
注3：佘林发先生和alberto togni 先生于2006年4月21日获得股东大会批准成为本行董事，并于2006年6月1日获得中国银 
行业监督管理委员会的任职资格备案回复。佘林发先生和alberto togni 先生出席了6月2日、8月29日、10月30日和12月14 
日董事会会议。 
注 4：华庆山先生未能亲自出席 12 月 14 日董事会会议，委托其他董事代为出席并行使表决权。 
战略发展委员会 
本行战略发展委员会目前由 11 名成员组成，包括董事长、1 名执行董事、8 名非执行董 
事和 1 名独立非执行董事。主席由董事长肖钢担任，委员包括李礼辉、张景华、俞二牛、朱 
彦、张新泽、洪志华、黄海波、frederick anderson goodwin 爵士、佘林发和 alberto togni。 
该委员会主要职责为制订本行战略计划及评估其效益，并审阅和评估有关下列事项的方案供 
董事会审议： 
● 战略发展计划； 
● 年度预算； 
● 资本配置方案； 
● 兼并和收购计划； 
● 重大投资及融资方案； 
● 重大内部重组和调整。 
138 
战略发展委员会 2006 年共召开 6 次会议（包括 3 次临时会议），并以通讯表决方式通过 
1 个决议，主要审议了中国银行发展战略、2006-2008 年业务发展规划、2007-2009 年业务 
计划等议案。 
战略发展委员会会议平均出席率达 91%，有关董事参加委员会会议的出席率列示如下： 
董事 出席委员会会议次数 出席率 
肖钢 6 次中出席 6 次 100% 
李礼辉 6 次中出席 6 次 100% 
张景华 6 次中出席 6 次 100% 
俞二牛注 1 6 次中出席 5 次 83% 
朱彦 6 次中出席 6 次 100% 
张新泽 6 次中出席 6 次 100% 
洪志华 6 次中出席 6 次 100% 
黄海波 6 次中出席 6 次 100% 
frederick anderson 
goodwin 注 2 
6 次中出席 1 次 17% 
佘林发 2 次中出席 2 次 100% 
alberto togni 2 次中出席 2 次 100% 
注 1：俞二牛董事委托其他董事代为出席会议并行使表决权 1 次。 
注 2：frederick anderson goodwin 爵士委托其他董事代为出席会议并行使表决权 3 次。 
稽核委员会 
本行稽核委员会目前由 7 名成员组成，包括 3 名非执行董事和 4 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、william 
peter cooke、佘林发和 alberto togni。该委员会主要职责包括： 
.. 提议更换和任命外部审计师，审议其费用，并评估其业绩和独立性； 
.. 审议外部审计师的审计报告，内部控制报告和审计计划； 
.. 审议财务报告，其他财务披露和重要的会计和审计政策和规章； 
.. 批准内部稽核章程，监督指导内部稽核组织架构重组，推进稽核垂直管理，保证其独
139 
立性；审批内部稽核计划及预算，，并评价其业绩； 
.. 完善总稽核职责，提议任命总稽核，总稽核直接向委员会报告，委员会对总稽核业绩 
进行评估； 
.. 监督本行内部控制，持续不断跟进外部审计师提出问题的整改情况，包括审议内部稽 
核报告发现，管理层回复，以及整改计划，并与总稽核和外部审计师讨论内部控制的 
充分性问题； 
.. 推动内控自我评估，满足证券交易所相关披露要求。 
稽核委员会 2006 年召开 6 次会议，审议内容主要包括财务报告、股息分配和利润分配 
方案；中国银行股份有限公司财务管理办法、2006 年度业务计划和费用预算；2005 年度外 
部审计师管理建议及管理层回应、外部审计师审计计划、审计范围及费用；内部稽核工作计 
划和费用预算、内部稽核工作改进方案、总稽核聘任人选等。 
稽核委员会会议出席率达 100%，有关董事参加委员会会议的出席率列示如下： 
董事 出席委员会会议次数 出席率 
patrick de saint-aignan 6 次中出席 6 次 100% 
朱彦 6 次中出席 6 次 100% 
黄海波 6 次中出席 6 次 100% 
梁定邦 6 次中出席 6 次 100% 
william peter cooke 6 次中出席 6 次 100% 
佘林发 2 次中出席 2 次 100% 
alberto togni 2 次中出席 2 次 100% 
稽核委员会已审阅本行2006年年度报告，本行外部审计师普华永道中天会计师事务所有 
限公司已对本行按照中国公认会计准则编制的财务报告进行审计，罗兵咸永道会计师事务所 
已按照《国际财务报告准则》对本行编制的财务报告进行审计。并出具了无保留意见的审计 
报告。稽核委员会已就财务报表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。 
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本集团已经初步建立了内部控制评估机制，此次评估针对重要监控方面进行，包括财务 
监控、运作监控、合规监控及风险管理功能。管理层已向稽核委员会及董事会汇报了重要控 
制的审阅结果。 
风险政策委员会 
本行风险政策委员会目前由 6 名成员组成，包括 2 名非执行董事、1 名执行董事和 3 名 
独立非执行董事。主席由独立非执行董事梁定邦担任，委员包括张景华、张新泽、华庆山、 
patrick de saint-aignan 和 alberto togni。该委员会主要职责包括： 
.. 评估和监督本行风险管理政策及内部控制政策（包括信贷政策）的实施； 
.. 监督已确立的风险敞口，监控和评估本行风险偏好； 
.. 审查本行法律与合规事务程序的有效性和监督其实施； 
.. 审查及批准超出授予本行行长信贷审批限额的信贷决定。 
风险政策委员会 2006 年召开 4 次会议，主要审议了中国银行 2006 年风险偏好建议、 
市场风险管理政策、2006 年市场风险限额建议、《中国银行总行授信审批授权管理规定》调 
整建议、中国银行股份有限公司反洗钱和反恐融资政策，以及超管理层审批权限授信项目等 
议案。 
风险政策委员会会议出席率达 100%，有关董事参加委员会会议的出席率列示如下： 
董事 出席委员会会议次数 出席率 
梁定邦 4 次中出席 4 次 100% 
张景华 4 次中出席 4 次 100% 
张新泽 4 次中出席 4 次 100% 
华庆山 4 次中出席 4 次 100% 
patrick de saint-aignan 4 次中出席 4 次 100% 
alberto togni 1 次中出席 1 次 100% 

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人事和薪酬委员会 
本行人事和薪酬委员会目前由 5 名成员组成，包括 2 名非执行董事和 3 名独立非执行董 
事。主席由非执行董事俞二牛担任，委员包括洪志华、梁定邦、william peter cooke 和 patrick 
de saint-aignan。该委员会主要职责包括： 
.. 审核本行人力资源和薪酬政策并监督其实施； 
.. 提名本行董事及高级管理层成员； 
.. 审核甄选、提名及委任董事、本行专业委员会成员及本行高级管理层成员的标准和 
程序； 
.. 审核本行管理层提呈的薪酬政策； 
.. 制订本行高级管理层表现审核标准，并评价董事和本行高级管理层成员的绩效。 
人事和薪酬委员会 2006 年共召开 5 次会议，主要审议事项包括董事、监事和高级管理 
人员的薪酬分配方案及激励办法；高级管理人员绩效考核目标和考核办法；年度人事费用总 
额和分配原则；董事、副行长、财务总监、风险总监、总稽核、委员会成员等候选人的任职 
资格条件和人员调整；董事会评估指引及方案、高管人员问责办法等。 
人事和薪酬委员会会议平均出席率达 92%，有关董事参加委员会会议的出席率列示如 
下： 
董事 出席委员会会议次数 出席率 
俞二牛 5 次中出席 5 次 100% 
洪志华 5 次中出席 5 次 100% 
梁定邦 5 次中出席 4 次 80% 
william peter cooke 5 次中出席 4 次 80% 
patrick de saint-aignan 5 次中出席 5 次 100% 

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关联交易控制委员会 
本行关联交易控制委员会目前由 4 名成员组成，包括 2 名执行董事和 2 名独立非执行董 
事。主席由独立非执行董事 william peter cooke 担任，委员包括华庆山、李早航和梁定邦。 
该委员会主要职责包括： 
.. 就关联交易制订政策及程序； 
.. 确定本行关联方并向董事会和监事会报告； 
.. 根据有关法律法规确定关联交易； 
.. 根据中国法律法规审查本行主要关联交易。 
关联交易控制委员会2006年召开4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、关联方承诺函等议案。 
关联交易控制委员会会议平均出席率达 88%，有关董事参加委员会会议的出席率列示如 
下： 
董事 出席委员会会议次数 出席率 
william peter cooke 4 次中出席 4 次 100% 
华庆山 4 次中出席 3 次 75% 
李早航 4 次中出席 4 次 100% 
梁定邦 4 次中出席 3 次 75% 
委任董事 
本行严格遵循香港联交所《上市规则》第 a.4.1 条及第 a.4.2 条及本行章程的规定，董 
事由股东大会选举，任期三年，从中国银行业监督管理委员会核准之日起计算。董事任期届 
满接受股东大会重新选举，可连选连任。 
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独立董事 
本行董事会现有独立董事4名，人数符合本行《公司章程》的要求。独立董事分别担任董 
事会五个专业委员会成员。根据香港联交所《上市规则》第3.13条的有关规定，本行已收到 
每名独立非执行董事就其独立性而做出的年度书面确认。基于该项确认及董事会掌握的相关 
资料，本行继续确认其独立身份。 
2006 年独立董事出席董事会议情况请参见前述董事会及各专业委员会出席情况。 
独立董事对本行有关事项提出异议情况 
2006 年 8 月 29 日董事会决议批准本行 2006 年市场风险限额。14 票同意，1 票反对，1 
票弃权。董事会讨论时，独立董事 patrick de saint-aignan 投反对票，他表示：根据银行 
目前的风险管理能力，风险限额设定过高。 
独立董事对本行对外担保情况出具的专项说明和独立意见函 
根据中国证券监督管理委员会证监发[2003]56 号文的相关规定及要求，中国银行股份有 
限公司的独立董事梁定邦、william peter cooke、patrick de saint-aignan、alberto togni， 
本着公正、公平、客观的原则，特对本行的对外担保情况进行如下说明： 
本行开展对外担保业务是经中国人民银行和中国银行业监督管理委员会批准的，属于本 
行的正常业务之一。本行针对担保业务的风险制定了具体的管理办法、操作流程和审批程序， 
并据此开展相关业务。本行担保业务以保函为主，截至 2006 年 12 月 31 日止，本行开出保 
函的担保余额为人民币 2,902.05 亿元。 

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监事和监事会 
监事会是本行的监督机构，对股东大会负责。监事会依据《公司法》和《公司章程》的 
规定，负责监督本行的财务事宜，监督董事会和高级管理层履职行为的合法、合规性。 
本行监事会现有监事 5 名，包括 3 名股东代表监事和 2 名职工代表监事。本行《公司章 
程》规定，监事每届任期三年，任期届满可连选连任。股东代表监事和外部监事由股东大会 
选举产生或更换。 
2006 年，监事会共召开会议 6 次，并做出了相关决议。报告期内监事会开展工作的情况 
和监督意见，详见本年报的“监事会报告”。 
高级管理层 
高级管理层是本行的执行机构，对董事会负责。高级管理层以行长为代表，副行长等高 
级管理人员协助行长工作。行长的主要职责包括主持本行的日常行政、业务、财务管理工作； 
组织实施董事会决议；拟订本行的经营计划和投资方案；拟订本行的基本管理制度及具体规 
章；提名其他高级管理人员人选；拟订本行的薪酬福利和奖惩方案等。 
2006 年，本行高级管理层在《公司章程》规定的授权范围内及董事会授权范围内实施本 
行的经营管理，顺利实现了经营目标，进一步推动了本行各项业务的快速发展。 
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 
事均已确认其于年内遵守了该标准守则有关条款的规定。 

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董事关于财务报告的责任声明 
以下所载的董事对财务报告的责任声明，应与本年报中审计师报告内审计师责任声明一 
并阅读。该两者应分别独立理解。 
董事确认其有责任为每一财政年度编制能真实反映本行经营成果的财务报告书。就董事 
所知，并无任何可能对本行的持续经营产生重大不利影响的事件或情况。 
聘用、解聘会计师事务所情况 
根据本行2005年度股东大会审议通过的决议，聘请普华永道中天会计师事务所有限公司 
为本行2006年度国内会计师事务所，聘请罗兵咸永道会计师事务所为本行2006年度国际会计 
师事务所，并同意授权董事会根据市场惯例与会计师事务所协商确定其酬金。 
截至2006年12月31日止年度，本集团就财务报表审计(包括海外分行以及子公司财务报 
表审计)向普华永道及其成员机构支付的审计专业服务费共计人民币1.83亿元。 
作为本行全球首次公开发行及在香港证券交易所及上海证券交易所上市的相关服务费 
用，本行已支付给普华永道中天会计师事务所有限公司及罗兵咸永道会计师事务所合计人民 
币1.36亿元，并将此费用计入资本公积中。 
除了上述提及的首次公开发行的业务外，普华永道未向本行提供其他重大的非审计业 
务。本年度本行向普华永道支付的非审计业务费用（不包括首次公开发行股票的业务费用） 
为人民币0.18亿元。 
普华永道中天会计师事务所有限公司及罗兵咸永道会计师事务所已为本行提供审计服 
务4年。2006年度为本行中国会计准则会计报表审计报告签字的注册会计师为朱宇、涂益。 
在即将举行的 2007 年股东大会上，本行董事会将提呈再次委任普华永道中天会计师事 
务所有限公司和罗兵咸永道会计师事务所为本行审计师的决议。 

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投资者关系与信息披露 
本行按照上市及发售股份所在地颁布的各种证券监管规定进行信息披露活动，依法公开 
对外发布各类定期报告及临时公告，确保信息披露的及时性、公平性、准确性、真实性和完 
整性，以保护投资人及相关当事人的合法权益。因本行目前同时在香港和上海两地上市，本 
行在进行信息披露时将遵循孰高、孰严、孰多的原则以保证公平对待所有投资者。为了加快 
推进信息披露体系建设，进一步提高信息披露的透明度，本行根据上市所在地颁布的各种证 
券监管规定，制定了《中国银行股份有限公司信息披露政策》并经董事会通过，对信息披露 
的内容、形式、程序、管理等进行了原则性规定，本行将以此为基础制定更为详细和具有可 
操作性的信息披露管理办法。 
本行通过业绩发布会、记者招待会、路演、接待机构投资者来访、网上直播、电子邮件、 
电话热线等多种形式和渠道增进与投资者之间的了解及交流，积极参与国际、国内等证券机 
构组织的分析师见面会，广泛与各类投资者、分析师进行接触，以使投资者能够及时准确的 
了解本行的发展战略、经营管理和业绩表现，同时接受投资者对本行提出的建设性意见。本 
行高级管理人员除于公布年度及中期业绩时与分析员进行适时的沟通外，同时不定期与机构 
投资者及分析师会面。 
上市后，本行通过多种渠道增进与投资者之间的了解及交流。组织高级管理人员与来自 
国内、国外的投资者及分析员召开了 83 次会议。 
市场认同 
报告期内，本行在 ir magazine 举行的 2006 年香港及台湾地区评选活动中，获得“2006
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年度香港市场 ipo 最佳投资者关系”(best ir for an ipo in the hong kong market)奖项，并 
同时获得“最佳年报和其他公司通讯”及“香港市场中国公司最佳投资者关系”两个奖项的 
荣誉提名。在该杂志组织的中国大陆评选活动中，本行获得“2006 年度中国市场企业交易最 
佳投资者关系”(best ir for a corporate transaction)奖项以及“大型国有企业最佳投资者关 
系”(grand prix for best overall ir - soe) 的奖项提名。ir magazine 是目前最为权威的国 
际性投资者关系专业月刊，本行获得的上述奖项和提名由 ir magazine 邀请的来自于中国内 
地、香港、台湾、新加坡以及其他亚洲地区的 342 名家买卖方分析员和基金经理评选得出。 
董事会报告 
董事会全体同仁谨此提呈本行及其附属公司（合称“本集团”）截至2006年12月31日的 
董事会报告及经审核的综合财务报表。 
主要业务 
本行从事银行业及有关的金融服务，包括商业银行业务、投资银行业务和保险业务。 
主要客户 
本年度内，本集团最大五名客户占本集团利息收入及其他经营收入总金额少于 30%。 
业绩及分配 
本集团在本年度之业绩载于会计报表及附注。 
董事会建议派发末期股息每股0.04元人民币，股息总额约101.54亿元人民币，必须待股 
东于2007年6月14日 (星期四) 举行之年度股东大会批准后生效。如获批准，本行向h股股东 
和a股股东派发2006年末期股息的具体实施方案（包括暂停办理h股股份过户登记手续的日 
期；确定有权收取末期股息的h股及a股股东的股权登記日）将于2007年6月14日年度股东大
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会后分别另行公告。 
本行所派2006年末期股息将以人民币计值和宣布，以人民币向a股股东支付，以港币向h 
股股东支付。港币实际派发金额按照本行年度股东大会召开日即2007年6月14日前一周（包 
括年度股东大会当日）中国人民银行公布的人民币兑换港币平均基准利率计算。 
本行没有派发截至 2006 年 6 月 30 日止期间的中期股息。本行于 2006 年 4 月召开的股 
东大会上批准向截至 2005 年 12 月 31 日止的股东派发股息总额为 13.75 亿元人民币。 
暂停办理 h 股股份过户登记手续 
本行将由 2007 年 5 月 16 日 (星期三) 至 2007 年 6 月 14 日 (星期四) (首尾两天包括在 
内)，暂停办理 h 股股份过户登记手续，以确定有权出席年度股东大会的 h 股股东名单。h 
股股东如欲出席年度股东大会，须于 2007 年 5 月 15 日 (星期二) 下午 4 时 30 分前，将股 
票连同股份过户文件一并送交本行 h 股股份过户登记处香港中央证券登记有限公司，地址是 
香港皇后大道东 183 号合和中心 17 楼 1712-1716 室，办妥过户登记手续。 
a股股份将不涉及上述暂停办理股份过户登记手续事宜。有关本次年度股东大会的股权 
确定日及相关事宜，本行屆時将在年度股东大会通知内另行公告。 
捐款 
本集团于本年度报告期间慈善及其他捐款总额约为 1,235 万元人民币。 
股本 
于本年报付印前之最后可行日期及根据已公开资料，本行具有足够的公众持股量，符合 
香港联合交易所证券上市规则对公众持股量的最低要求及在本行上市时香港联合交易所所授 
予的豁免。 

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可供分配储备 
本行可供分配储备情况详见会计报表及注释五、28。 
固定资产 
本行固定资产情况请参见会计报表及注释五、10。 
财务摘要 
本行 2006 年分别于香港联合交易所及上海证券交易所上市，本行过去 4 年的年度业绩、 
资产及负债摘要请参见财务摘要一节。 
关连交易 
根据香港上市规则（“上市规则”）第 14a 章规定，本行与本行的关连人士（定义见香港 
上市规则）间的交易构成本行的关连交易。本行关连交易详情如下： 
可豁免的持续关连交易 
本行在日常业务过程中提供的商业银行服务及产品 
本行在日常业务过程中，向客户提供商业银行服务及产品。该等商业银行服务及产品包 
括接受存款。在本行存款的客户包括本行的主要股东、董事、监事及行政总裁、本行 h 股上 
市日期前 12 个月内担任董事的前任董事及他们各自的联系人士。根据上市规则第 14a 章， 
上述人士均为本行的关连人士。根据上市规则第 14a 章，本行关连人士在本行存款将构成本 
行的持续关连交易。 
此外，中银香港为中银香港员工的存款提供优惠利率。非本行员工的本行关连人士的存 
款按照市场利率及一般商业条款存入本行。在本行员工可获得员工利率的情况下，身为本行 
员工的本行关连人士的存款由本行按员工利率支付利息，但该等存款符合一般商业条款，不
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优于其它非本行关连人士的本行其它员工适用的员工利率条款。 
本行在日常业务过程中向本行关连人士提供的商业银行服务及产品所依据的一般商业条 
款与提供予独立第三方（包括本行其它并非关连人士的可资比较员工）的条款相若或不优于 
该等条款。该等交易构成香港上市规则第 14a.65(4))条项下的可豁免持续关连交易（即一名 
关连人士为一名上市发行人的利益方，按一般商业条款（或就上市发行人而言更优惠的条款） 
以在上市发行人处存入存款的方式作出财务资助，而该财务资助并无以上市发行人的资产作 
抵押），并因此可豁免遵守香港上市规则第 14a.35 条及第 14a.45 条至第 14a.48 条所载的 
申报、公告和独立股东批准的规定。 
本行向关连人士提供的贷款及信贷融资 
本行在日常业务过程中，按照一般商业条款及参照当前市场水平，向客户提供贷款及信 
贷融资（包括提供长期贷款、短期贷款、消费贷款、信用卡信贷、按揭、担保、第三方贷款 
抵押、安慰函及票据贴现融资）。使用本行提供的贷款及信贷融资的客户包括本行的主要股东、 
董事、监事及行政总裁、本行 h 股上市日期前 12 个月内担任董事的前任董事及彼等各自的 
联系人士。根据香港上市规则第 14a 章，上述人士均为本行的关连人士。根据香港上市规则 
第 14a 章，本行向本行关连人士提供贷款及信贷融资构成本行的持续关连交易。 
对于使用长城人民币信用卡及中银信用卡的员工，本行给予优惠员工费率。该等优惠费 
率包括豁免年费及减收手续费。此外，中银香港可对使用其信用卡的员工实行优惠员工费率。 
本行境内机构亦为员工的住房贷款及按揭提供优惠员工利率，为员工的消费贷款提供优 
惠员工利率。该等优惠员工利率均在人民银行的规定范围内。此外，中银香港为其员工的住 
房贷款及按揭提供优惠员工利率。 
本行向并非本行员工的关连人士提供的贷款及信贷融资乃经参考当前市场利率及按一 
般商业条款进行。在贷款及信贷融资可获得员工利率的情况下，本行提供予身为本行员工的
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关连人士的贷款及信贷融资按员工利率提供，但有关贷款或信贷融资符合一般商业条款，不 
优于适用本行其它非关连人士员工的员工利率条款。 
本行在日常业务过程中向本行关连人士提供的贷款及信贷融资所依据的一般商业条款与 
提供予独立第三方（包括本行其它非关连人士的可资比较员工）的条款相若或不优于该等条 
款。该等交易构成香港上市规则第 14a.65(1)条项下的可被豁免的持续关连交易（即一名上市 
发行人就一名关连人士的利益按一般商业条款在其日常业务过程中作出财务资助），并因此可 
豁免遵守香港上市规则第 14a.35 条及第 14a.45 条至第 14a.48 条所载的全部申报、公告 
和独立股东批准的规定。 
本行和 prudential corporation holdings limited 集团之间的持续关连交易 
prudential corporation holdings limited 拥有本行间接子公司中银国际英国保诚资产管 
理有限公司(中银国际保诚)及中银国际英国保诚信托有限公司（中银保诚信托）各 36%的股 
份。根据香港上市规则规定，prudential corporation holdings limited 及其联系人构成本行 
的关连人士。中银国际保诚及中银保诚信托为 prudential corporation holdings limited 的 
联系人士，亦构成本行的关连人士。 
2006 年，本行与 prudential corporation holdings limited 及其联系人士在日常业务过程 
中订立如基金分销服务、基金经理服务、基金投资顾问服务、客户推荐服务、信息科技服务、 
办公室租赁及消费服务、存款、保险服务及企业管理服务等多项交易。该等交易按一般商业 
条款进行且每一类交易各自的金额并未超过上市规则第 14a 章所载之各项百分比率（盈利百 
分比率不适用）的 0.1%。根据上市规则 14a.33 条（“符合最低豁免水平的交易”）规定，该 
等交易豁免遵守申报、公告和独立股东批准的规定。 

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企业管治 
本行致力于维持高水平的企业管治常规。有关本行对香港上市规则附录十四《企业管治 
常规守则》的遵守情况，载列于本年度报告公司治理一节。 
董事及监事 
截至2006年12月31日止，有关本行董事及监事情况请详见董事、监事及高级管理人员情 
况一节。 
董事在与本行构成竞争的业务所占的权益 
本行非执行董事 frederick anderson goodwin 爵士自 1998 年 8 月以来一直担任 rbs 
集团董事。rbs 集团是全球规模最大的银行及金融服务集团之一的控股公司，其业务可能与 
本集团的业务构成直接或间接的竞争。除上述披露外，并无任何其他董事在与本集团直接或 
间接构成或可能构成竞争的业务中持有任何权益。 
董事、监事及高级管理人员的报酬情况 
董事、监事及高级管理人员的报酬情况，载列于本年度报告董事、监事及高级管理人员 
一节。 
董事及监事的服务合约 
本行所有董事和监事，均未与本行或其任何附属公司订立任何在一年内不能终止，或除 
法定补偿外还须支付任何补偿方可终止的服务合约。 
董事及监事于重大合约中权益 
报告期内，本行、其控股公司、附属公司或各同系附属公司概无就本银行业务订立任何 
重大，而任何董事、监事直接或间接拥有重大权益的合约。 

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董事及监事认购股份权益 
于2002年7月5日，中银香港控股直接控股公司中银香港（bvi）根据上市前认股权计划 
向下列董事授予认股权，该等董事可根据此认股权向中银香港（bvi）购入中银香港控股现有 
已发行普通股股份，行使价为每股8.50港元。中银香港控股为本行附属公司，已于香港联交 
所上市。该类认股权自2002年7月25日起的4年内归属，即认股权的25%股份数目将于每年年 
底归属。有效行使期为10年。 
截至2006年12月31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列示 
如下： 
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 
于 2006 年 
12 月 31 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 
报告期内，上述董事持有的认股权并无行使或有任何变动。 
除上文披露外，本报告期任何时间内，本行、其控股公司、附属公司或各同系附属公司 
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 
除上述披露内容外，截至2006年12月31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条须备存的登记册所记录或根据 
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
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港联交所的权益。 
主要股东权益 
本行主要股东权益载列于股本变动及主要股东持股情况一节。 
管理合约 
于本年度内，本行并无就整体或任何重要业务的管理和行政工作签订或存有任何合约。 
股票增值权计划及认股权计划 
关于本集团股票增值权计划及认股权计划请参见会计报表注释五、22。 
关于中银香港（bvi）根据上市前认股权计划就中银香港(控股)有限公司股份授出的认股 
权，请参见“董事和监事认购股份权益”一节。 
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发行 8,514,415,652 股普通股。 
本行于 2006 年 6 月 1 日首次公开发行 h 股 25,568,590,000 股并于香港联交所上市；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 a 股 6,493,506,000 股，本行于 2006 年 7 月 5 日在上海 
证券交易所上市。 
截至 2006 年 12 月 31 日，本行库藏股总数约为 5,000 万股。 
优先认股权 
本行章程未就优先认股权做出规定，不要求本行按股东的持股比例向现有股东发售新股。 
《公司章程》规定，本行增加资本，可以采用向非特定投资人募集新股，向现有股东配售新
155 
股或派送新股，以资本公积金转增股本，发行可转换公司债券或者法律、行政法规规定以及 
相关监管机构批准的其他方式。《公司章程》中没有关于股东优先认股权的强制性规定。 
首次公开发行募集资金的使用 
本行募集资金全部用于补充本行资本金。 
税项减免 
财政部、国家税务总局核定本行境内机构 2006 年度工资税前扣除总额为 156.69 亿元人 
民币，该核定金额大于目前税法规定的税前扣除限额，详见会计报表注释五、38。 
2007 年 1 月，根据《财政部 国家税务总局关于中国银行股份有限公司赞助第 29 届奥 
运会有关税收问题的通知》（财税[2006]163 号），财政部、国家税务总局对本行赞助北京奥 
运会在税收政策上给予了支持，主要包括本行赞助奥运会的支出获得企业所得税税前扣除， 
本行向北京奥组委提供的服务免交营业税。 
审计师 
本行审计师情况，载列于重要事项一节。在即将举行的年度股东大会上，将提呈委任本 
行审计师的决议。 
承董事会命 
肖钢 
董事长 
2007 年 3 月 22 日 

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监事会报告 
一、监事会召开会议的情况 
2006 年度本监事会共召开全体监事会议 6 次： 
（1）第一次会议（2 月 23 日），以通讯方式召开，审议通过《中国银行股东委派专职 
监事绩效考核办法》，提交股东大会审议。 
（2）第二次会议（3 月 27 日），审议通过《中国银行股份有限公司 2005 年年度财务 
报告》。 
（3）第三次会议（4 月 12 日），审议通过《中国银行监事会在 2006 年股东年会上的 
报告》，提交股东大会审议；审议通过对股东委派专职监事 2005 年度绩效考核的结果，提 
交股东大会审议。 
（4）第四次会议（4 月 29 日），审议通过“对提交 2006 年股东年会（续会）审议的 
利润分配方案的意见”，提交股东大会。 
（5）第五次会议（8 月 29 日），审议通过《中国银行 2006 年中期报告》。 
（6）第六次会议（10 月 31 日），审议通过《中国银行 2006 年第三季度报告》。 
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二、监事会开展监督检查工作的情况 
2006 年度，监事会以《中华人民共和国公司法》和本行章程为依据，以财务监督和合规 
性监督为工作重点，认真履行了对董事会和高级管理层进行监督的职责。 
各位监事带领监事会办公室工作人员日常在总行通过参加会议、调阅文件、质询、谈话 
等方式进行监督检查；报告期内对总行财会部、风险部、授信执行部、银行卡中心等七个部 
门的财务活动和某些工作的合规性进行了现场检查；并调用本行基层业务人员对 16 个国内一 
级分行和一个本行全资子公司进行了现场检查，平均每个机构历时 11 天。以上检查的内容涉 
及财务报告的完整性和真实性、授信资产质量的真实性、贷款拨备提取的合规性、资产处置 
及其责任人处理情况、资金业务风险管理情况、某些关联交易的情况等方面。 
报告期内监事会还利用本行的内部网络信箱在员工中进行了一次“网上调研”活动，调 
研内容涉及本行改革、发展、管理以及授信业务、财会业务等方面。此次调研获得了许多有 
价值的信息，调研内容被整理成 4 万多字的汇总资料，除了供监事会研究使用之外，也已提 
交给全体董事和高级管理人员参考。 
三、监事会对报告期内本行有关事项的独立意见 
（1）依法运作情况 
报告期内未发现本行董事会、高级管理层在执行职务中有违法、违规、违反本行章程或 
损害本行利益的行为。报告期内本行内控制度建设得到进一步加强和完善。 
（2）财务情况 
本年报中所包含的财务报告，真实、公允地反映了报告期内本行财务状况和经营成果。 
（3）募集资金使用情况 
报告期内，本行在境内外共募集资金 112 亿美元和 200 亿元人民币，资金用途与本行招 
股说明书承诺的用途一致。 
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（4）收购和出售资产情况 
报告期内，未发现本行收购、出售资产的交易中有损害部分股东权益或造成本行资产流 
失的行为。 
（5）关联交易情况 
报告期内，未发现有损害本行利益的不公平关联交易行为。 
（6）关于年度利润较大幅度超过预测数的问题 
监事会同意董事会对报告期内本行利润较大幅度超过预测数的原因的解释。 
重要事项 
两地上市情况 
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25,568,590,000 
股；并于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。 
本行于2006年6月19日至23日在境内成功发行a股，7月5日于上海证券交易所上市。发 
行价格为每股3.08元人民币。首次公开发行a股为6,493,506,000股，约占全面摊薄后总股份 
的2.56％；募集资金总额为200亿元人民币。 
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。 
收购及出售资产、吸收合并事项的简要情况 
本行于2006年12月15日经过多轮国际竞标以9.65亿美元现金收购新加坡飞机租赁有限 
责任公司（“sale”）１００％已发行股本，完成了中国银行上市后第一起国外收购的交易。 
本次交易中新加坡飞机租赁公司的售股股東为新加坡航空公司（淡马锡控股（私人）有
159 
限公司持有该公司56.67%的股份5）（35.5％）、westlb ag（35.5％）、apfarge投资有 
限公司（新加坡政府直接投资公司下属的一家投资公司）（14.5％）和seletar投资有限公司 
（淡马锡控股（私人）有限公司的一家全资子公司）（14.5％）。 
2005年12月31日，淡马锡控股（私人）有限公司通过其全资附属公司亚洲金融控股私人 
有限公司间接持有本行5%的股份。2006年3月13日社保基金理事会投资完成后，该公司在本 
行间接持股的比例下降到4.805%。2006年12月31日，在本行根据香港《证券及期货条例》 
第336条而备存的登记册中，淡马锡控股（私人）有限公司持有的本行股份占本行全部已发 
行股本总额的4.65 %。经咨询本行境内外法律顾问的意见，本次交易不构成本行的关连交易。 
sale从1993年创建后每年盈利，2004-2006年税后利润分别为470万、520万和3470万 
美元。sale是亚洲区域领先的全球性飞机租赁公司，以现代化的空中巴士和波音机队组合为 
遍布全球各地20个国家27家航空公司提供服务。本次收购价格为sale公司2006年9月账面价 
值的1.80倍，主要因为其有利的飞机定单数量和价格及其为市场所广泛认同的管理团队和国 
际化的平台。 
收购后，sale 成为中国银行集团旗下的第 205 家附属公司，也是第一家由中国拥有的国 
际航空租赁公司。本次收购为中国银行扩展全球性租赁业务提供了一个良好的平台。 
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。本行亦没有发生重大委托他人进 
行现金资产管理事项。 
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 
5 截止 2006 年 5 月 30 日淡马锡控股（私人）有限公司在新加坡航空公司的持股情况，来源于新加坡航空公司 2005/2006 
年度报告。 
160 
则，对担保业务进行信贷风险管理。 
报告期内，本行或据本行所知持有本行股份 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。 
重大关联交易事项 
报告期末本公司关联交易情况请参见会计报表及注释七有关内容。 
内部控制 
有关本行内部控制建设情况请参见管理层讨论与分析一节。 
重大诉讼、仲裁事项 
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。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。 
案件的情况 
2006 年，本行立案查处违法违纪案件 30 件，比上年的 52 件下降 42.31%，涉及金额 
8.06 亿元，同比下降 25.37%，查扣各类资产 3.91 亿元，占涉案金额的 48.60%，尚存资金 
风险 4.15 亿元。 
本行实行严格的案件问责制。凡发生案件，本行不仅追究案件直接责任人的责任，同时 
追究案件相关责任人的责任以及案发单位管理者的责任，直至上追一级至两级机构条线部门 
的管理责任和机构主要领导人的责任。对百万元以上案件的发案单位负责人，实行引咎辞职 
或免职处理；将案件纳入绩效考核指标，对发生案件的机构，加大绩效扣分权重。2006 年， 
本行共追究各类违规、违纪、违法及相关责任人 10,413 人，其中二级行和支行行长被免职或 
撤职的有 97 人。追究案件领导责任人 119 人、相关责任人 114 人。 
161 
两税合一 
2007年3月16日，全国人民代表大会通过了《中华人民共和国企业所得税法》，该项法 
律将于2008年起生效。本行适用的企业所得税率将从33%降到25%。预计自2008年起，本 
行将受益于该项政策，同时税率的下调将导致本行对递延税款进行相应调整，详见会计报表 
注释十二（1） 
董事、监事及高级管理人员受处罚情况 
报告期内，本行董事、监事及高级管理人员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。 

162 
年度报告确认意见 
中国银行股份有限公司董事、高级管理人员 
关于 2006 年年度报告的确认意见 
根据《中华人民共和国证券法》、《公开发行证券的公司信息披露内容与格式准则第 2 号—年度报告的 
内容与格式》（2005 年修订)相关规定和要求，作为中国银行股份有限公司的董事、高级管理人员，我们在 
全面了解和审核公司 2006 年年度报告后，出具意见如下： 
一、公司严格按照企业会计准则、企业会计制度及金融企业会计制度规范运作，公司 2006 年年度报告公 
允地反映了公司 2006 年年度的财务状况和经营成果。 
二、我们认为公司 2006 年年度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，并对内容 
的真实性、准确性和完整性承担个别及连带责任。 
董事及高管人员签名： 
姓名 职务 签名 姓名 职务 签名 姓名 职务 签名 
肖 钢 董事长 李礼辉 
副董事 
长、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 
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 

163 
alberto 
togni 
独立非 
执行董事 
周载群 副行长 张燕玲 副行长 
张林 
纪 委 
书 记 
朱 民 副行长 
王永利 
副 行 长 
杨志威 
董事会 
秘 书 
会计报表及审计报告 
（见附件） 
备查文件目录 
一、 载有本行董事长、行长、主管财会工作的副行长、财务负责人签章的会计报表。 
二、 载有会计师事务所盖章、注册会计师亲笔签字并盖章的审计报告原件。 
三、 载有本行董事长盖章的年度报告正本。 
四、 报告期内本行在《金融时报》、《中国证券报》和《上海证券报》公开披露过的 
所有文件正本及公告原件。 
五、 《中国银行股份有限公司章程》 
股东参考资料 
2007年度财务日志 
公布2006年度全年业绩 2007年3月23日 
2006年年报 于2007年4月下旬邮寄送交h股股东 
2006年年度股东大会 将于2007年6月14日召开 
2007年中期业绩 公布日期不迟于2007年8月31日 

164 
年度股东大会 
本行2006年年度股东大会订于2007年6月14日（星期四）15:00点正，于中国北京海淀区 
西直门外高粱桥斜街18号中苑宾馆召开。 
股息 
董事会建议派发末期股息每股0.04元人民币，须待股东于2006年年度股东大会上批准。 
股份资料 
上市 
本行普通股分别于2006年6月1日及2006年7月5日在香港联交所及上海证券交易所上 
市。 
普通股 
已发行股份：253,839,162,009股 
市值 
截至2006年最后一个交易日（2006年12月29日），本公司 
市值为12,917亿元人民币（折合12,856亿元港币）。 
股份价格 
h股2006年12月29日收市价：4.27港元 
a股2006年12月29日收市价：5.43元人民币 
h股年度最高成交价：4.28港元 
年度最低成交价：2.95港元 
a股年度最高成交价：5.43元人民币 
年度最低成交价：3.08 元人民币 
165 
股份代码 
股票简称：中国银行 
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 
股东查询 
股东如对所持股份有任何查询，例如股份转让、转名、更改地址、报失股票等事项，请 
致函如下地址： 
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 18 楼 1806-1807 室 
电话∶（852）28628555 
传真∶（852）2865 0990/（852）2529 6087 
电邮∶hkinfo@computershare.com.hk 
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3楼 
166 
电话：021-38874800 
信用评级（长期） 
惠誉国际评级： a– 
穆迪投资服务： a2 
日本评级及投资信息公司： a 
标准普尔： bbb+ 
大公国际资信评估有限公司： aaa 
指数成分股 
恒生指数（由 2006 年 12 月 4 日起生效） 
恒生中国 h 股金融行业指数（于 2006 年 11 月 27 日成立） 
恒生中国企业指数 
恒生综合指数(hsci)系列 
恒生流通指数(hsfi)系列 
摩根士丹利资本国际 (msci) 中国指数系列 
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 
富时指数系列 
投资者查询 
h股投资者如有查询请联络： 
中国银行股份有限公司 投资者关系团队（香港） 
167 
香港花园道1号中银大厦52楼 
电话：（852）28266469 
传真：（852）2865 0990/（852）2529 6087 
电邮：bocir@bank-of-china.com 
a股投资者如有查询请联络： 
中国银行股份有限公司 投资者关系团队（北京） 
中国北京复兴门内大街1号中银大厦9楼 
电话：（8610）66594626 
传真：（8610）66594579 
电邮：bocir@bank-of-china.com 
其他资料 
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18楼1806-1807室）索取按照国际财务报告准则编制的年度报告，或本 
行营业场所索取按照中国会计准则编制的年度报告。阁下亦可在下列网址www.boc.cn 、 
www.sse.com.cn 、www.hkex.com.hk 阅览本年度报告英文及中文版本。 
倘阁下对如何索取本年度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。 

168 
组织架构 
截至 2006 年 12 月 31 日，本集团组织架构图(1)如下： 
国内业务： 
总行、37 家一级分行、直属分行及 
10,560 家二级分行、支行及分支机构 
(详见境内机构名录部分) 
香港及澳门业务 
其他海外业务： 
于海外 25 个国家设立分行、子公司及 
办事处 (详见境内外机构名录部分) 
澳门分行 
大丰银行 
有限公司 
中银香港 
(集团) 
中银集团 
投资 
中银集团 
保险 
中银国际 
控股 
50.31％ 100％ 100％ 100％ 100％ 
亚洲开发 
银行 
瑞士银行(2) 汇金公司 rbs china 亚洲金融 社保基金理事会 
其他公众股 
东 
中国银行股份有限公司 
0.20％ 1.81％ 67.49％ 8.25％ 4.64％ 4.4613.15％ ％ 
中银香港 
(控股) (4) 
中银香港 
100％ 
65.7712％ 
100％ 
51% 
中银香港 
(bvi) 
0.0435％ 
100％ 
中银保险有 
限公司(3) 0.0539％ 
100％ 
中银集团 
人寿 
49% 
新加坡飞机租赁 
有限责任公司
169 
注： 
(1) 参照根据香港《证券及期货条例》第336条而备存的登记册所载录的权益而编制。 
(2) 瑞士银行同时持有1,084,612,402股份的淡仓，占本行已发行股份的0.43％。 
(3) 在中国注册成立。 
(4) 在香港联交所上市。 
境内外机构名录 
国内办理国际业务主要分支机构名录 
总行 
中国北京复兴门内大街1号 
swift：bkch cn bj 
电 传：22254 bcho cn 
电 话：(86) 010-66596688 
传 真：(86) 010-66593777 
邮政编码：100818 
网 址：www.boc.cn 
安徽省 
安徽省分行 
中国安徽省合肥市长江中路 
313号 
swift：bkch cn bj 780 
电 话：(86) 0551-2926114 
传 真：(86) 0551-2926993 
邮政编码：230061 
芜湖分行 
中国安徽省芜湖市九华山路 
258号 
swift：bkch cn bj 79a 
电 传：91120 whboc cn 
电 话：(86) 0553-3830735 
传 真：(86) 0553-3823492 
邮政编码：241000 
马鞍山分行 
中国安徽省马鞍山市花雨路 
1号 
国际金融大厦 
电 话：(86) 0555-2345674 
传 真：(86) 0555-2345674 
邮政编码：243011 
北京市 
北京市分行 
中国北京市朝阳区雅宝路8 
号 
swift：bkch cn bj 110 
电 话：（86）010-65199988 
传 真：（86）010-65199572 
010-65199586 
邮政编码：100020 
中银国际控股有限公司 
北京代表处 
中国北京市西城区金融大街 
28号 
盈泰中心2号楼15层 
电 话：(86) 010-66229000 
传 真：(86) 010-66578950 
邮政编码：100032 
网 址：www.bocigroup.com 
电子邮件： 
bj@bocigroup.com 
中银集团人寿保险有限 
公司 
北京代表处 
中国北京市复兴门内大街1 
号 
中国银行大厦8楼 
电 话：(86) 010-66533316 
传 真：(86) 010-66080048 
邮政编码：100818 
电子邮件： 
bjxianghong@263.net 
中银保险有限公司 
中国北京市西城区复兴门内 
大街1号 
中国银行大厦12楼 
电话：(86) 010-66596288 
传真：(86) 010-66596301 
邮政编码： 100818 
公司网址: www.bocins.com 
重庆市 
重庆市分行 
中国重庆市渝中区中山一路 
218号 
swift：bkch cn bj 59a 
电 话：(86) 023-63889471 
170 
023-63889461 
传 真：(86) 023-63889585 
邮政编码：400013 
福建省 
福建省分行 
中国福建省福州市五四路 
136号福建中银大厦 
swift：bkch cn bj 720 
电 传：92109 bocfj cn 
电 话:(86)0591-87848741 
0591-87849504 
传 真:(86)0591-87804522 
邮政编码：350003 
厦门市分行 
中国福建省厦门市湖滨北路 
40号中银大厦 
swift：bkch cn bj 73a 
电 传：923012 xmboc cn 
电 话：(86) 0592-5066415 
传 真：(86) 0592-5066443 
邮政编码：361012 
福州市市中支行 
中国福建省福州市鼓楼区古 
田路27号 
swift：bkch cn bj 73e 
电 话:(86)0591-83321310 
0591-83318034 
传 真:(86)0591-83321700 
邮政编码：350005 
福清支行 
中国福建省福清市清昌大道 
胜田广场 
swift：bkch cn bj 73l 
电 传：924006 bocfq cn 
电 话：(86)0591-85169031 
0591-85239999 
传 真：(86)0591-85226149 
邮政编码：350300 
莆田分行 
中国福建省莆田市城厢区文 
献路933号 
swift：bkch cn bj 73c 
电 传：925003 cbkpt cn 
电 话：(86)0594-2698904 
0594-2695974 
传 真：(86)0594-2690761 
邮政编码：351100 
泉州分行 
中国福建省泉州市丰泽街 
中银大厦 
swift：bkch cn bj 73b 
电 话：(86) 0595-22152162 
传 真：(86) 0595-22110636 
邮政编码：362000 
漳州分行 
中国福建省漳州市芗城区元 
光南路2号 
swift：bkch cn bj 73d 
电 话：(86) 0596-2972809 
传 真：(86) 0596-2972867 
邮政编码：363000 
甘肃省 
甘肃省分行 
中国甘肃省兰州市天水南路 
525号 
swift：bkch cn bj 660 
电 话：(86) 0931-8410884 
传 真：(86) 0931-8410884 
邮政编码：730000 
广东省 
广东省分行 
中国广东省广州市东风西路 
197号 
swift：bkch cn bj 400 
电 传：441042 gzboc cn 
电 话：(86) 020-83338080 
传 真：(86) 020-83344066 
邮政编码：510180 
广州珠江支行 
中国广东省广州市珠江新城 
临江大道3号发展中心大厦 
电 话：(86) 020-83340998 
传 真：(86) 020-37851023 
邮政编码：510623 
珠海分行 
中国广东省珠海市拱北粤海 
东路1148号 
swift：bkch cn bj 45p 
电 传：456228 zuboc cn 
电 话：(86) 0756-8883333 
传 真：(86) 0756-8883366 
邮政编码：519020 
汕头分行 
中国广东省汕头市金砂路98 
号 
swift：bkch cn bj 41a 
电 话：(86) 0754-8262955 
传 真：(86) 0754-8262843 
邮政编码：515041 
潮州分行 
中国广东省潮州市潮枫路潮 
州大道交叉口中银大厦 
swift：bkch cn bj 41p 
电 传：450020 czboc cn 
电 话：(86) 0768-2863008 
传 真：(86) 0768-2863022 
邮政编码：521011 
东莞分行 
中国广东省东莞市莞太路72 
号 
电 话：(86) 0769-22819888 
传 真：(86) 0769-22818181 
邮政编码：523072 

171 
佛山分行 
中国广东省佛山市禅城区人 
民西路2号 
swift：bkch cn bj 44a 
电 传：425011 fsboc cn 
电 话：(86) 0757-82683367 
传 真：(86) 0757-82221638 
邮政编码：528000 
广州开发区分行 
中国广东省广州市经济技术 
开发区青年路2号 
swift：bkch cn bj 42g 
电 传：440802 gdzxg cn 
电 话：(86) 020-82215911 
传 真：(86) 020-82212766 
邮政编码：510730 
惠州分行 
中国广东省惠州市麦地路22 
号 
swift：bkch cn bj 47a 
电 话：(86) 0752-2289988 
传 真：(86) 0752-2289525 
邮政编码：516001 
江门分行 
中国广东省江门市港口路22 
号 
swift：bkch cn bj 44k 
电 话：(86) 0750-3163160 
传 真：(86) 0750-3163166 
邮政编码：529051 
茂名分行 
中国广东省茂名市油城五路 
13号 
swift：bkch cn bj 42p 
电 话：(86) 0668-2889134 
传 真：(86) 0668-2285300 
邮政编码：525000 
梅州分行 
中国广东省梅州市梅江一路 
53号 
swift：bkch cn bj 47k 
电 话：(86) 0753-2189333 
传 真：(86) 0753-2189359 
邮政编码：514021 
韶关分行 
中国广东省韶关市解放路 
160号中银大厦 
swift：bkch cn bj 46p 
电 话：(86) 0751-8186948 
传 真：(86) 0751-8883976 
邮政编码：512000 
阳江分行 
中国广东省阳江市东风一路 
29号 
swift：bkch cn bj 42w 
电 话：(86) 0662-3216110 
传 真：(86) 0662-3227743 
邮政编码：529500 
湛江分行 
中国广东省湛江市人民大道 
中50号 
swift：bkch cn bj 43p 
电 话：(86) 0759-3189813 
传 真：(86) 0759-3189888 
邮政编码：524022 
肇庆分行 
中国广东省肇庆市端州六路 
3号 
swift：bkch cn bj 43a 
电 话：(86) 0758-2813336 
传 真：(86) 0758-2834311 
邮政编码：526020 
中山分行 
中国广东省中山市中山三路 
18号 
swift：bkch cn bj 44t 
电 话：(86) 0760-8336688 
传 真：(86) 0760-8337788 
邮政编码：528400 
鹤山支行 
中国广东省鹤山市沙坪镇新 
城路228号 
swift：bkch cn bj 44n 
电 话：(86) 0750-8993388 
传 真：(86) 0750-8988411 
邮政编码：529700 
开平支行 
中国广东省开平市中银路1 
号 
swift：bkch cn bj 44p 
电 话：(86) 0750-2322222 
传 真：(86) 0750-2311111 
邮政编码：529300 
南海支行 
中国广东省佛山市南海区桂 
城南海大道中31号 
swift：bkch cn bj 44e 
电 话：(86) 0757-86285268 
传 真：(86) 0757-86285265 
邮政编码：528200 
三水支行 
中国广东省佛山市三水区西 
南文峰中路4号 
swift：bkch cn bj 44c 
电 话：(86) 0757-87735286 
传 真：(86) 0757-87732139 
邮政编码：528100 
顺德支行 
中国广东省佛山市顺德区大 
良凤山西路2号 
swift：bkch cn bj 44b 
电 话：(86) 0757-22389881 
传 真：(86) 0757-22389880 
邮政编码：528300 
台山支行 
中国广东省台山市台城镇桥
172 
湖路46号 
swift：bkch cn bj 44m 
电 话：(86) 0750-5551601 
传 真：(86) 0750-5526820 
邮政编码：529200 
新会支行 
中国广东省新会市会城镇朱 
紫路7号 
swift：bkch cn bj 44l 
电 话：(86) 0750-6622073 
传 真：(86) 0750-6666021 
邮政编码：529100 
广西壮族自治区 
广西壮族自治区分行 
中国广西南宁市古城路39号 
swift：bkch cn bj 480 
电 传：48122 bocgx cn 
电 话：(86) 0771-2879607 
传 真：(86) 0771-2811267 
邮政编码：530022 
北海分行 
中国广西北海市北海大道国 
际金融大厦 
swift：bkch cn bj 49b 
电 话：(86) 
0779-3061133-206\207 
传 真：(86) 0779-3034431 
邮政编码：536000 
防城港分行 
中国广西防城港市富裕路38 
号 
swift：bkch cn bj 49h 
电 话：(86) 0770-2802318 
传 真：(86) 0770-2831115 
邮政编码：538001 
桂林分行 
中国广西桂林市中山中路2 
号 
swift：bkch cn bj 49c 
电 话：(86) 0773-2581918 
传 真：(86) 0773-2582020 
邮政编码：541002 
柳州分行 
中国广西柳州市屏山大道 
178号 
swift：bkch cn bj 49d 
电 话：(86) 0772-3881862 
传 真：(86) 0772-3881999 
邮政编码：545005 
梧州分行 
中国广西梧州市新兴一路1 
号 
swift：bkch cn bj 49a 
电 传：48680 wzboc cn 
电 话：(86) 0774-2812531 
传 真：(86) 0774-3829800 
邮政编码：543002 
玉林分行 
中国广西玉林市一环东路 
248号 
swift：bkch cn bj 49g 
电 话：(86) 0775-2650928 
传 真：(86) 0775-2825524 
邮政编码：537000 
贵州省 
贵州省分行 
中国贵州省贵阳市都司路30 
号 
swift：bkch cn bj 240 
电 话：(86) 0851-5815261 
传 真：(86) 0851-5825746 
邮政编码：550002 
海南省 
海南省分行 
中国海南省海口市大同路33 
号 
swift：bkch cn bj 740 
电 传：490172 haboc cn 
电 话：(86) 0898-66778001 
传 真：(86) 0898-66562040 
邮政编码：570102 
三亚分行 
中国海南省三亚市解放四路 
035号 
swift：bkch cn bj 75a 
电 话：(86) 0898-88676001 
传 真：(86) 0898-88676003 
邮政编码：572000 
河北省 
河北省分行 
中国河北省石家庄市新华路 
80号 
swift：bkch cn bj 220 
电 话：(86) 0311-87866681 
传 真：(86) 0311-87866692 
邮政编码：050000 
秦皇岛分行 
中国河北省秦皇岛市迎宾路 
157号 
swift：bkch cn bj 23a 
电 话：(86) 0335-3619050 
传 真：(86) 0335-3068179 
邮政编码：066001 
唐山分行 
中国河北省唐山市新华西道 
67号 
swift：bkch cn bj 23h 
电 话：(86) 0315-2221569 
传 真：(86) 0315-2221569 
邮政编码：063004 
黑龙江省 
黑龙江省分行 
173 
中国黑龙江省哈尔滨市红军 
街19号 
swift：bkch cn bj 860 
电 传：87009 bchb cn 
电 话：(86) 0451-53626785 
传 真：(86) 0451-53624147 
邮政编码：150001 
兆麟支行 
中国黑龙江省哈尔滨市道里 
区兆麟街37号 
swift：bkch cn bj 87a 
电 话：(86) 0451-84648124 
传 真：(86) 0451-84610769 
邮政编码：150010 
大庆分行 
中国黑龙江省大庆市萨尔图 
东风新村晚报大街6号 
swift：bkch cn bj 87d 
电 话：(86) 0459-6385681 
传 真：(86) 0459-6385679 
邮政编码：163311 
黑河分行 
中国黑龙江省黑河市兴林街 
149号 
swift：bkch cn bj 87f 
电 话：(86) 0456-8277693 
传 真：(86) 0456-8222093 
邮政编码：164300 
佳木斯分行 
中国黑龙江省佳木斯市中山 
街105号 
swift：bkch cn bj 87b 
电 话：(86) 0454-8628208 
传 真：(86) 0454-8628208 
邮政编码：154002 
牡丹江分行 
中国黑龙江省牡丹江市太平 
路9号 
swift：bkch cn bj 87e 
电 话：(86) 0453-6678036 
0453-6678035 
传 真：(86) 0453-6678032 
邮政编码：157000 
齐齐哈尔分行 
中国黑龙江省齐齐哈尔市龙 
沙区卜奎南大街6号 
swift：bkch cn bj 87c 
电 话：(86) 0452-2408041 
传 真：(86) 0452-2408041 
邮政编码：161000 
河南省 
河南省分行 
中国河南省郑州市花园路40 
号 
swift：bkch cn bj 530 
电 话：(86) 0371-65779966 
传 真：(86) 0371-65779878 
邮政编码：450008 
湖北省 
湖北省分行 
中国湖北省武汉市黄石路65 
号 
swift：bkch cn bj 600 
电 话：(86) 027-82813723 
027-82811707 
传 真：(86) 027-82838479 
邮政编码：430013 
汉口支行 
中国湖北省武汉市中山大道 
593号 
swift：bkch cn bj 61a 
电 话：(86) 027-82834891 
传 真：(86) 027-82815221 
邮政编码：430021 
湖南省 
湖南省分行 
中国湖南省长沙市芙蓉中路 
一段593号 
swift：bkch cn bj 970 
电 话：(86) 0731-2580703 
传 真：(86) 0731-2580707 
邮政编码：410011 
湘潭分行 
中国湖南省湘潭市建设北路 
249号 
swift：bkch cn bj 98d 
电 话：(86) 0732-8222758 
传 真：(86) 0732-8227476 
邮政编码：411100 
株洲分行 
中国湖南省株洲市天台路23 
号 
swift：bkch cn bj 98c 
电 话：(86) 0733-8817047 
传 真：(86) 0733-8817003 
邮政编码：412007 
内蒙古自治区 
内蒙古自治区分行 
中国内蒙古呼和浩特市新城 
区新华大街12号 
swift：bkch cn bj 880 
电 话：(86) 0471-4690024 
传 真：(86) 0471-4690039 
邮政编码：010010 
包头分行 
中国内蒙古包头市青山区钢 
铁大街28号 
swift：bkch cn bj 89a 
电 话：(86) 0472-6965000 
传 真：(86) 0472-6965000 
邮政编码：014030 
鄂尔多斯市分行 
中国内蒙古鄂尔多斯市东胜
174 
区伊金霍洛西街29号 
电 话：(86) 0477-8369680 
传 真：(86) 0477-8369980 
邮政编码：017000 
呼伦贝尔市分行 
中国内蒙古呼伦贝尔市阿里 
河路16号 
电 话：(86) 0470-8291688 
传 真：(86) 0470-8291688 
邮政编码：021008 
满洲里分行 
中国内蒙古满洲里市三道街 
28号 
电 话：(86) 0470-6237306 
传 真：(86) 0470-6237306 
邮政编码：021400 
江苏省 
江苏省分行 
中国江苏省南京市中山南路 
148号 
swift：bkch cn bj 940 
电 传：34116 bocjs cn 
电 话：(86) 025-84207888 
传 真：(86) 025-84208843 
邮政编码：210005 
常州分行 
中国江苏省常州市和平南路 
150号 
swift：bkch cn bj 95e 
电 话：(86) 0519-8122988 
传 真：(86) 0519-8119666 
邮政编码：213003 
连云港分行 
中国江苏省连云港市新浦区 
海连中路1号 
swift：bkch cn bj 95a 
电 话：(86) 0518-5319920 
0518-5319921 
传 真：(86) 0518-5319869 
0518-5411983 
邮政编码：222002 
南通分行 
中国江苏省南通市青年西路 
19号 
swift：bkch cn bj 95g 
电 话：(86) 
0513-83516888， 
传 真：(86) 0513-83518921 
邮政编码：226006 
苏州分行 
中国江苏省苏州市干将西路 
188号 
swift：bkch cn bj 95b 
电 话：(86) 0512-65112719 
传 真：(86) 0512-65114906 
邮政编码：215002 
无锡分行 
中国江苏省无锡市中山路 
258号 
swift：bkch cn bj 95c 
电 话：(86) 0510-82705888 
传 真：(86) 0510-82751687 
0510-82705888-1000 
邮政编码：214002 
扬州分行 
中国江苏省扬州市文昌中路 
541号 
swift：bkch cn bj 95h 
电 话：(86) 0514-7361078 
传 真：(86) 0514-7361010 
邮政编码:225002 
镇江分行 
中国江苏省镇江市中山东路 
235号 
swift：bkch cn bj 95d 
电 话：(86) 0511-5020712 
传 真：(86) 0511-5027934 
邮政编码：212001 
张家港支行 
中国江苏省张家港市人民中 
路111号 
swift：bkch cn bj 95l 
电 话：(86) 0512-58685888 
传 真：(86) 0512-58684349 
邮政编码：215600 
江西省 
江西省分行 
中国江西省南昌市站前西路 
1号 
swift：bkch cn bj 550 
电 传：95013 bocnc cn 
电 话：(86) 0791-6471503 
传 真：(86) 0791-6471505 
邮政编码：330002 
景德镇分行 
中国江西省景德镇市瓷都大 
道1053号 
swift：bkch cn bj 56a 
电 话：(86) 0798-8570628 
传 真：(86) 0798-8570625 
邮政编码：333000 
吉林省 
吉林省分行 
中国吉林省长春市西安大路 
699号 
swift：bkch cn bj 840 
电 传：83006 ccboc cn 
电 话：(86) 0431-8409055 
传 真：(86) 0431-8409054 
邮政编码：130061 
长春市西安大路支行 
中国吉林省长春市同志街91 
号 
swift：bkch cn bj 85a 
175 
电 话：(86) 0431-8948671 
传 真：(86) 0431-8948667 
邮政编码：130061 
吉林市分行 
中国吉林省吉林市深圳街1 
号 
swift：bkch cn bj 85b 
电 话：(86) 0432-4670216 
传 真：(86) 0432-4670299 
邮政编码：132011 
延边分行 
中国吉林省延边市人民路 
107号 
电 话：(86) 0433-2536454 
传 真：(86) 0433-2516877 
邮政编码：133000 
辽宁省 
辽宁省分行 
中国辽宁省大连市中山区中 
山广场9号 
swift：bkch cn bj 810 
电 话：(86) 0411-82586666 
传 真：(86) 0411-82586366 
邮政编码：116001 
大连市中山广场支行 
中国辽宁省大连市中山区解 
放街5号 
swift：bkch cn bj 82n 
电 话：(86) 0411-82641655 
传 真：(86) 0411-82519786 
邮政编码：116001 
沈阳分行 
中国辽宁省沈阳市沈河区市 
府大路253号 
swift：bkch cn bj 82a 
电 话：(86) 024-22810556 
传 真：(86) 024-22810536 
邮政编码：110013 
鞍山分行 
中国辽宁省鞍山市铁东区南 
中华路298号 
swift：bkch cn bj 82d 
电 话：(86) 0412-5933011 
传 真：(86) 0412-5933013 
邮政编码：114000 
大连开发区分行 
中国辽宁省大连市经济技术 
开发区 
金马路158号中银大厦 
swift：bkch cn bj 82h 
电 话：(86) 0411-87612223 
传 真：(86) 0411-87648411 
邮政编码：116600 
锦州分行 
中国辽宁省锦州市凌河区解 
放路5段25甲 
电 话：(86) 0416-3185513 
传 真：(86) 0416-3185869 
邮政编码：121000 
营口分行 
中国辽宁省营口市站前区渤 
海大街西8号 
电 话：(86) 0417-2805159 
传 真：(86) 0417-2833680 
邮政编码：115000 
宁夏回族自治区 
宁夏回族自治区分行 
中国宁夏银川市解放西街 
170号 
swift：bkch cn bj 260 
电 话：(86) 0951-5044671 
传 真：(86) 0951-5044671 
邮政编码：750001 
青海省 
青海省分行 
中国青海省西宁市东关大街 
218号 
swift：bkch cn bj 280 
电 话：(86) 0971-8180186 
传 真：(86) 0971-8180192 
邮政编码：810000 
陕西省 
陕西省分行 
中国陕西省西安市东大街菊 
花园38号 
swift：bkch cn bj 620 
电 话：(86) 029-87261726 
传 真：(86) 029-87261933 
邮政编码：710001 
山东省 
山东省分行 
中国山东省青岛市香港中路 
59号 
swift：bkch cn bj 500 
电 话：(86) 0532-81858201 
传 真：(86) 0532-81858185 
邮政编码：266071 
济南分行 
中国山东省济南市泺源大街 
22号 
swift：bkch cn bj 51b 
电 话：(86) 0531-86995076 
0531-86995004 
传 真：(86) 0531-86995223 
邮政编码：250063 
日照分行 
中国山东省日照市黄海一路 
18号 
swift：bkch cn bj 51e 
电 话：(86) 0633-8329526 
传 真：(86) 0633-8331264 
邮政编码：276826 
176 
威海分行 
中国山东省威海市青岛北路 
9号 
swift：bkch cn bj 51d 
电 话：(86) 0631-5326988 
传 真：(86) 0631-5317207 
邮政编码：264200 
烟台分行 
中国山东省烟台市解放路 
166号 
swift：bkch cn bj 51a 
电 话：(86) 0535-6238888 
传 真： 
(86)0535-6238888-6738 
邮政编码：264001 
上海市 
上海市分行 
中国上海市浦东新区银城中 
路200号 
swift：bkch cn bj 300 
电 传：33062 bocsh cn 
电 话：(86) 021-38824588 
传 真：(86) 021-64729384 
邮政编码：200121 
中银国际证券有限责任 
公司 
中国上海市浦东银城中路 
200号 
中银大厦39-40楼 
电 话：(86) 021-68604866 
传 真：(86) 021-58883554 
邮政编码：200121 
网 址：www.bocichina.com 
电子邮件： 
china@bocigroup.com 
中银国际基金管理有限 
公司 
中国上海市浦东银城中路 
200号 
中银大厦45楼 
电 话：(86) 021-38834999 
传 真：(86) 021-68872488 
邮政编码：200121 
网 址：www.bociim.com 
山西省 
山西省分行 
中国山西省太原市迎泽大街 
288号 
swift：bkch cn bj 680 
电 话：(86) 0351-8266282 
传 真：(86) 0351-4040364 
邮政编码：030001 
朔州分行 
中国山西省朔州市开发南路 
19号 
电 话：(86) 0349-2022180 
传 真：(86) 0349-2020861 
邮政编码：036000 
四川省 
四川省分行 
中国四川省成都市人民中路 
二段35号 
swift：bkch cn bj 570 
电 传：60306 boccd cn 
电 话：(86) 028-86403267 
028-86741950 
传 真：(86) 028-86403346 
邮政编码：610015 
成都蜀都大道支行 
中国四川省成都市暑袜北三 
街18号 
电 话：(86) 028-86668221 
86671909 86662260 
传 真：(86) 028-86676787 
028-86720847 
邮政编码：610016 
深圳市 
深圳市分行 
中国广东省深圳市罗湖区建 
设路2022号国际金融大厦 
swift：bkch cn bj 45a 
电 传：420309 bocsz cn 
420243 bocsz cn 
电 话：(86) 0755-22338888 
传 真：(86) 0755-82259209 
邮政编码：518005 
蛇口支行 
中国广东省深圳市蛇口太子 
路18号海景广场 
swift：bkch cn bj 45b 
电 话：(86) 0755-26811848 
0755-2681182 
3 
传 真：(86) 0755-26811829 
邮政编码：518067 
中银保险有限公司深圳 
分公司 
中国广东省深圳市罗湖区建 
设路2022号国际金融大厦31 
楼 
电 话：(86) 0755-25155678 
传 真：(86) 0755-25179843 
网 址：www.boc-ins.com 
邮政编码：518005 
天津市 
天津市分行 
中国天津市和平区解放北路 
80号 
swift：bkch cn bj 200 
电 话：(86) 022-27102335 
022-27102329 
传 真：(86) 022-23312809 
022-27102349 
邮政编码：300040 

177 
滨海分行 
中国天津经济技术开发区第 
三大街51号滨海金融街西区 
5号楼ab1-11、c1-2座 
swift：bkch cn bj 21a 
电 话：(86) 022-66283917 
传 真：(86) 022-66283918 
邮政编码：300457 
西藏自治区 
西藏自治区分行 
中国西藏自治区拉萨市林廓 
西路28号 
swift：bkch cn bj 900 
电 话：(86) 0891-6835078 
传 真：(86) 0891-6835078 
邮政编码：850000 
新疆维吾尔自治区 
新疆维吾尔自治区分行 
中国新疆乌鲁木齐市东风路 
2号中银大厦 
swift：bkch cn bj 760 
电 话：(86) 0991-2336007 
传 真：(86) 0991-2828619 
邮政编码：830002 
云南省 
云南省分行 
中国云南省昆明市北京路 
515号 
swift：bkch cn bj 640 
电 传：64034 kmbnk cn 
电 话：(86) 0871-3192910 
传 真：(86) 0871-3188976 
邮政编码：650051 
浙江省 
浙江省分行 
中国浙江省杭州市凤起路 
321号 
swift：bkch cn bj 910 
电 传：35019 bochz cn 
电 话：(86) 0571-85011888 
传 真：(86) 0571-87074837 
邮政编码：310003 
宁波市分行 
中国浙江省宁波市药行街 
139号 
swift：bkch cn bj 92a 
电 传：37039 nbboc cn 
电 话：(86) 0574-87196666 
传 真：(86) 0574-87198889 
邮政编码：315000 
绍兴分行 
中国浙江省绍兴市人民中路 
201号 
swift：bkch cn bj 92d 
电 传：37429 bocsx cn 
电 话：(86) 0575-5111333 
传 真：(86) 0575-5134405 
邮政编码：312000 
温州分行 
中国浙江省温州市人民西路 
西湖锦园 
swift：bkch cn bj 92b 
电 传：37110 wzboc cn 
电 话：(86) 0577-88265566 
传 真：(86) 0577-88267887 
邮政编码：325000 
舟山分行 
中国浙江省舟山市定海解放 
东路33号 
swift：bkch cn bj 92e 
电 话：(86) 0580-2068120 
传 真：(86) 0580-2068008 
邮政编码：316000 
178 
港澳地区主要机构名录 
中银香港（控股）有限公 
司 
香港花园道1号中银大厦52 
楼 
电话:（852）28462700 
传真：(852）28105830 
网址：www.bochk.com 
中国银行（香港）有限公司 
香港花园道1号 
swift：bkch hk hh 
电传：73772 bkchi hx 
电话:（852）28266888 
传真：(852）28105963 
网址：www.bochk.com 
南洋商业银行有限公司 
香港中环德辅道中151号 
电话:（852）28520888 
传真：(852）28153333 
网址：www.ncb.com.hk 
电子邮件： 
nanyang@ncb.com.hk 
集友银行有限公司 
香港中环德辅道中78号 
电话:（852）28430111 
传真：(852)28104207 
网址：www.chiyubank .com 
电子邮件： 
chiyu@chiyubank.com 
中银信用卡（国际）有限 
公司 
香港干诺道西68号中银信用 
卡中心20楼 
电话:（852）28538888 
传真：(852）25415415 
网址：www.boci.com.hk 
中银国际控股有限公司 
香港花园道1号中银大厦26 
楼 
电 话：(852) 22308888 
传 真：(852) 21479065 
网 址：www.bocigroup.com 
电子邮件： 
info@bocigroup.com 
中银国际亚洲有限公司 
香港花园道1号中银大厦26 
楼 
电 话：(852) 22308888 
传 真：(852) 25226797 
电子邮件： 
info@bocigroup.com 
中银国际证券有限公司 
香港花园道1号中银大厦20 
楼 
电 话：(852) 28676333 
传 真：(852) 25247327 
电子邮件： 
securities@bocigroup.com 
香港皇后大道中181号新纪 
元广场18楼 
电 话：(852) 27189888 
传 真：(852) 27189966 
电子邮件： 
securities@bocigroup.com 
中银国际研究有限公司 
香港花园道1号中银大厦20 
楼 
电 话：(852) 28676333 
传 真：(852) 21479513 
网 址： 
www.bociresearch.com 
电子邮件： 
info@bocigroup.com 
中银国际融资有限公司 
香港花园道1号中银大厦26 
楼 
电 话：(852) 22308888 
传 真：(852) 21479065 
电子邮件： 
info@bocigroup.com 
中银国际期货有限公司 
香港英皇道1111号太古城中 
心一座16楼1601-7室 
电 话：(852) 28676600 
传 真：(852) 21970290 
电子邮箱： 
futures@bocigroup.com 
中银国际英国保诚资产管理 
有限公司 
香港花园道1号中银大厦27 
楼 
电 话：(852) 22808000 
传 真：(852) 21510968 
网 址：www.boci-pru.com.hk 
电子邮箱： 
info@boci-pru.com.hk 
中银国际英国保诚信托有限 
公司 
香港花园道1号中银大厦27 
楼 
电 话：(852) 22808000 
传 真：(852) 25166757 
网 址：www.boci-pru.com.hk 
电子邮箱： 
info@boci-pru.com.hk 
中银集团保险有限公司 
香港中环德辅道中71号永安 
集团大厦9楼 
电 话：(852) 28670888 
传 真：(852) 25221705 
网 址： 
www.bocgroup.com/bocg-ins/ 
电子邮箱： 
info_ins@bocgroup.com 
中银集团人寿保险有限 
公司 
179 
香港中环德辅道中134-136 
号中银保险大厦 
13-21楼 
电 话：(852) 28629898 
传 真：(852) 28660938 
网 址： 
www.bocgroup.com/bocg-life 
电子邮箱： 
boc_life@bocgroup.com 
中银集团投资有限公司 
香港花园道1号中银大厦23 
楼 
电 话：(852) 22007500 
传 真：(852) 28772629 
网 址：www.bocgi.com 
电子邮箱： 
bocginv_bgi@bocgroup.com 
中国银行澳门分行 
澳门苏亚利斯博士大马路 
中银大厦 
swift：bkchmomx 
电 传：88231 bkchi om 
电 话：(853) 28781828 
传 真：(853) 28781833 
网 址：www.bocmacau.com 

180 
国外主要分支机构名录 
亚太地区 
asia-pacific area 
新加坡分行 
singapore branch 
4 battery road, bank of 
china 
building,singapore 
049908 
swift：bkchsgsg 
电 话：(65) 65352411 
传 真：(65) 65343401 
电子邮件： 
service_sg@bank-of-chi 
na.com 
大坡支行 
south sub-branch 
20 maxwell road 
#01-01,maxwell house, 
singapore 069113 
电 话：(65) 62233466 
传 真：(65) 62236601 
小坡支行 
north sub-branch 
133 middle road,boc 
plaza, 
singapore 188974 
电 话：(65) 68328108 
传 真：(65) 63339281 
加东支行 
katong 
sub-branch 
188-192 east coast road, 
singapore 428898 
电 话：(65) 64402440 
传 真：(65) 63440737 
中区支行 
central 
sub-branch 
60 cecil street,kpb 
building, 
singapore 049709 
电 话：(65) 62239622 
传 真：(65) 62218820 
唐城支行 
chinatown 
sub-branch 
60 eu tong sen street 
#01-01, 
furama hotel,singapore 
059804 
电 话：(65) 65337453 
传 真：(65) 65345571 
中银国际(新加坡)有限 
公司 
boc international 
(singapore) pte. 
ltd. 
4 battery road 
#04-00,bank of china 
building,singapore 
049908 
电 话：(65) 64128899, 
传 真：(65) 65343996 
电子邮件： 
singapore@bocigroup.co 
m 
马来西亚中国银行 
bank of china 
(malaysia) 
berhad 
ground,mezzanine,&1st 
floor, 
plaza osk,25 jalan 
ampang, 
50450 kuala lumpur,malaysia 
swift:bkchmykl 
电 话：(603) 21626633 
传 真：(603) 21615150 
电子邮件： 
service_my@bank-of-chi 
na.com 
悉尼分行 
sydney branch 
39-41 york street, 
sydney nsw 2000, 
australia 
swift: bkchau2s 
电 话：(612) 82355888 
传 真：(612) 92621794 
电子邮件： 
service_au@bank-of-chi 
na.com 
中国银行(澳大利亚)有 
限公司 
bank of china 
(australia) limited 
39-41 york street, 
sydney nsw 2000, 
australia 
swift: bkchau2a 
电 话：(612) 82355888 
传 真：(612) 92621794 
电子邮件： 
service_au@bank-of-chi 
na.com 
中国城分行 
haymarket branch 
681 george street, 
haymarket nsw 2000, 
australia 
电 话：(612) 92123877 
传 真：(612) 92123962 
墨尔本分行 
melbourne branch 
181 
270 queen street, 
melbourne vic 3000, 
australia 
电 话：(613) 96023655 
传 真：(613) 96023383 
巴拉玛打办事处 
parramatta office 
shop 2104, level 2, 
westfield shopping 
town, 
parramatta nsw 2150, 
australia 
电 话：(612) 98938833 
传 真：(612) 96872919 
东京分行 
tokyo branch 
boc bldg.3-4-1 
akasaka,minato-ku, 
tokyo,107-0052 japan 
swift: bkchjpjt 
电 话：(813) 35058818 
传 真：(813) 35058433 
电子邮件： 
service_jp@bank-of-chi 
na.com 
大阪分行 
osaka branch 
boc bldg.1-1-35 
kitahorie, 
nishi-ku,osaka,550-001 
4 japan 
swift: bkchjpjtosa 
电 话: (816) 65393666 
传 真: (816) 65381177 
横滨分行 
yokohama branch 
1/f.,fincl bldg.89-1 
yamashita-cho, 
naka-ku,yokohama,231-0 
023 japan 
swift: bkchjpjtyha 
电 话: (8145) 6632288 
传 真: (8145) 6638688 
大手町办事处 
otemachi office 
1/f.,shin-otemachi 
bldg., 
2-2-1 otemachi, 
chiyoda-ku,100-0004 
japan 
电 话：(813) 32770288 
传 真：(813) 32770289 
哈萨克中国银行 
jsc ab《bank of 
china kazakhstan》 
201,str.gogol,050026,a 
lmaty, 
republic of kazakhstan 
swift:bkchkzka 
电 话：(7327) 2585510 
传 真：(7327) 
2585514/2501896 
电子邮件： 
service_kz@bank-of-chi 
na.com 
亚联分行 
yalian branch 
9,north ring 
road,050060, almaty, 
republic of kazakhstan 
电话：(7327) 2452373 
传真：(7327) 2452373 
首尔分行 
seoul branch 
1/2f.,young poong 
bldg.,33 seolin-dong, 
chongro-gu seoul 
110-752,korea 
swift:bkchkrsexxx 
电 话：(822) 
3996268/3996272 
传 真：(822) 
3996265/3995938 
电子邮件： 
service_kr@bank-of-chi 
na.com 
安山分行 
ansan branch 
1/f.,dong yang 
bldg.,801-11, 
wongok-dong,danwon-gu, 
ansan, 
kyonggi-do 
425-846,korea 
swift：bkchkrseans 
电 话：(8231) 
4934638/4954518 
传 真：(8231) 4956407 
大邱分行 
daegu branch 
1/f., asia cement 
building., 
220-14,naedang dong 
daegu, 
703-802 korea 
swift：bkchkrsedae 
电 话：(8253) 
5232020/5238859 
传 真：(8253) 5238861 
曼谷分行 
bangkok branch 
179/4 bangkok city 
tower, 
south sathorn rd., 
tungmahamek,sathorn 
district, 
bangkok 10120,thailand 
swift：bkchthbk 
电 传：81091 bocbkk th 
电 话：(662) 2861010 
传 真：(662) 2861020 
电子邮件： 
service_th@bank-of-chi
182 
na.com 
胡志明市分行 
ho chi minh city 
branch 
19/f.,sun wah tower,115 
nguyen hue 
blvd.,district 1,ho chi 
minh city,vietnam 
swift：bkchvnvx 
电 话：(848) 8219949 
传 真：(848) 8219948 
电子邮件： 
service_vn@bank-of-chi 
na.com 
马尼拉分行 
manila branch 
g/f.&36/f.philamlife 
tower, 
8767 paseo de 
roxas,makati 
city,manila 
philippines 
swift：bkchphmm 
电 话：(632) 8850111 
传 真：(632) 8850532 
电子邮件： 
service_ph@bank-of-chi 
na.com 
雅加达分行 
jakarta branch 
wisma tamara suite 
101&201 jalan jend. 
sudirman kav.24 jakarta 
12920,indonesia 
swift：bkchidja 
电 话：(6221) 5205502 
传 真：(6221) 5201113 
电子邮件： 
service_id@bank-of-chi 
na.com 
巴林代表处 
bahrain 
representative 
office 
office 152,al jasrah 
tower,diplomatic 
area building 95,road 
1702,block 317, 
p.o.box 10059 
manama,kingdom of 
bahrain 
电 话：(973) 17531119 
传 真：(973) 17531009 
电子邮件： 
service_bh@bank-of-chi 
na.com 
欧洲地区 
europe 
伦敦分行 
london branch 
90 cannon street,london 
ec4n 6ha,u.k. 
swift：bkchgb2l 
电 传：8812913 bkchi g 
电 话：(4420) 72828888 
传 真：(4420) 76263892 
电子邮件： 
service_uk@bank-of-chi 
na.com 
西区分行 
west end branch 
107 shaftesbury 
ave.,london w1d 
5da,u.k. 
电 话：(4420) 74375975 
传 真：(4420) 77341704 
曼彻斯特分行 
manchester 
branch 
67-69 mosley street, 
manchester m2 3jb,u.k. 
电 话：(4416) 12368302 
传 真：(4416) 12280285 
格拉斯哥分行 
glasgow branch 
450 sauchiehall street, 
glasgow g2 3jd,u.k. 
电 话：(4414) 13323354 
传 真：(4414) 13326728 
伯明翰分行 
birmingham branch 
33 horse 
fair,birmingham b1 
1dd,u.k. 
电 话：(4412) 16227002 
传 真：(4412) 16227082 
中银国际（英国）有限 
公司 
bank of china 
international 
(uk) limited 
90 cannon street,london 
ec4n 6ha,u.k. 
电 话：(4420) 70228888 
传 真：(4420) 70228877 
电子邮件： 
uk@bocigroup.com 
卢森堡分行 
luxembourg 
branch 
37/39 boulevard prince 
henri l-1724, 
luxembourg p.o.box 114 
l-2011, 
luxembourg 
swift：bkchlull 
电 传：3546 chung lu 
电 话：(352) 221791/ 
183 
4667911 
传 真：(352) 221795 
网 址： 
www.bank-of-china.com/ 
lu/ 
电子邮件： 
service_lu@bank-of-chin 
a.com 
中国银行（卢森堡）有 
限公司 
bank of china 
(luxembourg) s.a. 
37/39 boulevard prince 
henri l-1724, 
luxembourg p.o.box 721 
l-2017, 
luxembourg 
电 话：(352) 228777/ 
4667911 
传 真：(352) 228776 
网 址： 
www.bank-of-china.com/ 
lu/ 
电子邮件： 
service_lu@bank-of-chi 
na.com 
巴黎分行 
paris branch 
23-25 avenue de la 
grande armee 75116 
paris,france 
swift：bkchfrpp 
电 传：281 090 bdcsp 
电 话：(331) 49701370 
传 真：(331) 49701372 
电子邮件： 
service_fr@bank-of-chi 
na.com 
十三区分行 
agence italie 
11 place d'italie 75013 
paris,france 
swift：bkchfrpp013 
电 话：(331) 45828710 
传 真：(331) 45857449 
法兰克福分行 
frankfurt branch 
bockenheimer landstr.39 
d-60325 frankfurt am 
main,germany 
swift：bkchdeff 
电 话：(4969) 1700900 
传 真：(4969) 17009050 
网 址：www.bocffm.com 
电子邮件： 
service_de@bank-of-chi 
na.com 
汉堡分行 
hamburg branch 
rathausmarkt 5,d-20095 
hamburg,germany 
swift：bkchdeffhmb 
电 话：(4940) 3410668-0 
传 真：(4940) 3410668-88 
米兰分行 
milan branch 
via santa margherita, 
no.14/16 20121 milano, 
italy 
swift：bkchitmm 
电 传：326011 
电 话：(3902) 864731 
传 真：(3902) 89013411 
电子邮件： 
service_it@bank-of-china. 
com 
俄罗斯中国银行 
bank of china 
(eluosi) 
6/f.,mosbusiness 
center,no.72, 
prospect mira,129110 
moscow,russia 
swift：bkchrumm 
电 传：413973 bocr ru 
电 话：(7495) 7950451 
传 真：(7495) 7950454 
网 址：www.boc.ru 
电子邮件： 
service_ru@bank-of-chi 
na.com 
匈牙利中国银行 
bank of 
china(hungary) 
close ltd. 
bank center,7 szabadsag 
ter, 
1054 budapest,hungary 
swift：bkchhuhb 
电 话：(361) 3543240 
传 真：(361) 3029009 
电子邮件： 
service_hu@bank-of-chi 
na.com 
美洲地区 
america 
纽约分行 
new york branch 
410 madison avenue new 
york,ny 10017,u.s.a. 
swift：bkchus33 
电 传：661723bkchi 
电 话：(1212) 9353101 
传 真：(1212) 5931831 
网 址：www.bocusa.com 
电子邮件： 
service_us@bank-of-chi 
na.com 
纽约华埠分行 
184 
new york 
chinatown branch 
42 east broadway,new 
york,ny 10002,u.s.a. 
swift：bkchus33ctx 
电 传：661723bkchi 
电 话：(1212) 9252355 
传 真：(1212) 4316157 
洛杉矶分行 
los angeles 
branch 
444 south flower street, 
39th floor,los 
angeles,ca 90071,u.s.a. 
swift：bkchus33lax 
电 传：188127bocla ut 
电 话：(1213) 6888700 
传 真：(1213) 6880198 
中银国际(美国)有限公 
司 
boc international (usa) 
inc. 
room 202, 1270 avenue of 
the americas 
new york. ny 10020,usa 
电 话：(212) 2590888 
传 真：(212) 2590889 
电子邮件： 
bociusa@bocigroup.com 
开曼分行 
grand cayman 
branch 
grand pavilion 
commercial center 
802 west bay road 
p.o.box 30995 
grand cayman ky1-1204 
cayman islands 
swift：bkchkyky 
电 话：(1345) 9452000 
传 真：(1345) 9452200 
电子邮件： 
service_ky@bank-of-chi 
na.com 
巴拿马分行 
panama branch 
p.o.box 
0823-01030,calle manuel 
m.icaza 
no.14,panama,republic 
of panama 
swift：bkchpapa 
电 话：(507) 2635522 
传 真：(507) 2239960 
电子邮件： 
service_pa@bank-of-chi 
na.com 
加拿大中国银行 
bank of china 
(canada) 
the exchange tower, 
130 king street 
west,suite 2730, 
p.o.box 356,toronto， 
ontario,canada m5x 1e1 
swift: bkchcatt 
电 传：06217598 bocc tor 
电 话：(1416) 3622991 
传 真：(1416) 3623047 
电子邮件： 
service_ca@bank-of-chi 
na.com 
多伦多中区分行 
toronto 
downtown branch 
396 dundas street 
west,toronto, 
ontario,canada m5t 1g7 
swift: bkchcattctx 
电 话：(1416) 9718806 
传 真：(1416) 9716551 
多伦多士嘉堡分行 
toronto 
scarborough 
branch 
unit 33,3300 midland 
ave., 
scarboro village mall 
scarborough,ontario,ca 
nada m1v 4a1 
电 话：(1416) 2977921 
传 真：(1416) 2976187 
温哥华分行 
vancouver branch 
1025 dunsmuir 
street,p.o.box 49277, 
four bentall 
centre,vancouver, 
b.c., canada v7x 1l3 
swift: bkchcattvan 
电 传：06959308 bocc vcr 
电 话：(1604) 6831088 
传 真：(1604) 6839228 
圣保罗代表处 
sao paulo 
representative 
office 
avenida 
paulista,1337-21 
andar,cj.212, 
01311-200 sao 
paulo,s.p.brasil 
电 话：(5511) 
35499958/35499978 
传 真：(5511) 35499966 
电子邮件： 
service_br@bank-of-chi 
na.com 
非洲地区 
africa 
185 
赞比亚中国银行 
bank of china 
(zambia) limited 
amandra house,ben bella 
road,lusaka, 
zambia p.o.box 34550 
swift：bkchzmlu 
电 话：(2601) 
235349/222549 
传 真：(2601) 235350 
电子邮件： 
service_zm@bank-of-chi 
na.com 
约翰内斯堡分行 
johannesburg 
branch 
4/f.,south tower,nelson 
mandela 
square,sandown,sandton 
,south africa 
p.o.box 782616 
sandton,2146 rsa 
swift：bkchzajj 
电 话：(2711) 5209600 
传 真：(2711) 7832336 
电子邮件： 
service_za@bank-of-chi 
na.com 

186 
释义 
在本年报中，除非文义另有所指，下列词语具有如下涵义： 
1、发行人/本行/公司/中国银行/中行/集团/本集团指中国银行股份有限公司或 
其前身及（除文义另有所指外）中国银行股份有限公司的所有子公司 
2、中国证监会指中国证券监督管理委员会 
3、香港金管局指香港金融管理局 
4、上交所指上海证券交易所 
5、香港联交所指香港联合交易所有限公司 
6、银监会指中国银行业监督管理委员会 
7、汇金公司指中央汇金投资有限公司 
8、社保基金理事会指全国社会保障基金理事会 
9、证券及期货条例指香港特别行政及法例《证券及期货条例》 
10、香港上市规则指《香港联合交易所有限公司证券上市规则》 
11、商业银行法指中华人民共和国商业银行法 
12、证券法指中华人民共和国证券法 
13、公司法指中华人民共和国公司法 
14、章程/公司章程指本行于2006 年9月27日经中国银监会核准的《中国银行股 
份有限公司章程》 
15、rbs china 指rbs china investments s.à r.l. 
16、rbs 集团指苏格兰皇家银行集团有限公司 
187 
17、rbs 银行指苏格兰皇家银行有限公司 
18、东方资产指中国东方资产管理公司 
19、集友银行指集友银行有限公司 
20、南洋商业银行指南洋商业银行有限公司 
21、瑞士银行指ubs ag 
22、普华永道中天指普华永道中天会计师事务所有限公司 
23、信达资产指中国信达资产管理公司 
24、亚洲金融指亚洲金融控股私人有限公司 
25、中银保险指中银保险有限公司 
26、中银国际保诚指中银国际英国保诚资产管理有限公司 
27、中银国际控股指中银国际控股有限公司 
28、中银国际控股集团指中银国际控股、其子公司及联营公司 
29、中银国际证券指中银国际证券有限责任公司 
30、中银集团保险指中银集团保险有限公司 
31、中银集团人寿指中银集团人寿保险有限公司 
32、中银集团投资指中银集团投资有限公司 
33、中银香港指中国银行(香港)有限公司，一家根据香港法律注册成立持牌银行， 
并为中银香港控股的全资子公司 
34、中银香港(bvi) 指boc hong kong (bvi) limited 
35、中银香港集团指中银香港(集团)有限公司 
36、中银香港控股指中银香港(控股)有限公司，一家根据香港法律注册成立的公 
司，并于香港联交所上市 
188 
37、中银信用卡公司指中银信用卡（国际）有限公司 
38、大丰银行指大丰银行有限公司 
39、sale指新加坡飞机租赁有限公司 
40、mis 指管理信息系统 
41、不良贷款指《贷款风险分类指导原则》生效后按照贷款质量五级分类对贷款 
进行分类时的“次级”、“可疑”和“损失”类贷款。本年度报告中，除特别指 
出，不良贷款均采用五级分类口径 
42、贷款分类原则指人民银行于2001 年12 月24 日颁布并于2002 年1月1日生 
效的《贷款风险分类指导原则》 
43、基点指万分之一 
44、付息负债指包括客户存款、应付银行及其他金融机构款项、其他借入资金 
45、减值贷款指根据国际银行业会计实务惯例，如果有客观减值证据证明贷款的 
预计未来现金流量会减少且减少金额可以预计，该贷款被认定为减值贷款。 
46、生息资产指包括客户贷款、证券投资、应收银行及其他金融机构的款项 
47、元指人民币元 
48、上海银行间同业拆放利率/ shibor：shanghai inter-bank offer rate 
49、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。 
189 
50、年度股东大会：本行将于2007年6月14日（星期四）下午3时正在中国北京 
海淀区西直门外高梁桥斜街18号中苑宾馆举行的年度股东大会。 

中国银行股份有限公司 
2006 年度会计报表及审计报告 

中国银行股份有限公司 
2006 年度会计报表及审计报告 
内容 页码 
审计报告 1-2 
合并及母公司资产负债表 3-4 
合并及母公司利润表 5 
合并及母公司股东权益变动表 6-8 
合并及母公司现金流量表 9-10 
会计报表注释 11-100 
附件一 中国会计准则与国际财务报告准则会计报表差异说明 101-106 
附件二 扣除非经常性损益的净利润 (未经审计) 107 
附件三 净资产收益率及每股收益计算表 (未经审计) 108 

普华永道中天会计师事务所有限公司 
中华人民共和国 
上海 200021 
湖滨路 202 号 
普华永道中心 11 楼 
电话 +86 (21) 6123 8888 
传真 +86 (21) 6123 8800 
审计报告 
普华永道中天审字(2007)第 10826 号 
中国银行股份有限公司全体股东： 
我们审计了后附的中国银行股份有限公司(以下简称“贵行”)及其合并子公司(以下 
简称“贵集团”)会计报表，包括 2006 年 12 月 31 日的合并及母公司资产负债表、 
2006 年度的合并及母公司利润表、合并及母公司股东权益变动表、合并及母公司 
现金流量表以及会计报表注释。 
一、管理层对会计报表的责任 
按照企业会计准则、《金融企业会计制度》及其他适用于贵行和贵集团进行会计核 
算和处理的有关规定(见会计报表注释第二部分)编制会计报表是贵行和贵集团管理 
层的责任。这种责任包括： 
（1）设计、实施和维护与会计报表编制相关的内部控制，以使会计报表不存在由 
于舞弊或错误而导致的重大错报； 
（2）选择和运用恰当的会计政策； 
（3）作出合理的会计估计。 
二、注册会计师的责任 
我们的责任是在实施审计工作的基础上对会计报表发表审计意见。我们按照中国注 
册会计师审计准则的规定执行了审计工作。中国注册会计师审计准则要求我们遵守 
职业道德规范，计划和实施审计工作以对会计报表是否不存在重大错报获取合理保 
证。 
审计工作涉及实施审计程序，以获取有关会计报表金额和披露的审计证据。选择的 
审计程序取决于注册会计师的判断，包括对由于舞弊或错误导致的会计报表重大错 
报风险的评估。在进行风险评估时，我们考虑与会计报表编制相关的内部控制，以 
设计恰当的审计程序，但目的并非对内部控制的有效性发表意见。审计工作还包括 
评价管理层选用会计政策的恰当性和作出会计估计的合理性，以及评价会计报表的 
总体列报。 
我们相信，我们获取的审计证据是充分、适当的，为发表审计意见提供了基础。 
三、审计意见 
我们认为，贵集团和贵行上述会计报表已经按照企业会计准则、《金融企业会计制 
度》及其他适用于贵集团和贵行进行会计核算和处理的有关规定编制，在所有重大 
方面公允反映了贵集团和贵行2006年12月31日的财务状况以及2006年度的经营成 
果和现金流量。 
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 
2007 年 3 月 22 日 

中国银行股份有限公司 
2006年12月31日资产负债表 
(除特别注明外，金额单位均为人民币百万元) 
3 
中国银行集团 中国银行 
资产 注释 2006 年 
12 月 31 日 
2005 年 
12 月 31 日 
2006 年 
12 月 31 日 
2005 年 
12 月 31 日 
现金 31,110 28,644 27,632 25,144 
贵金属 42,873 30,314 41,332 28,577 
存放中央银行 五、1 379,631 316,941 354,881 284,373 
存出发钞基金 五、14 36,626 35,586 1,713 1,641 
交易性及其他公允价值变动 
计入损益的债券 五、2 110,634 107,271 76,581 82,082 
衍生金融产品资产 五、3 24,837 16,808 16,363 11,329 
存放及拆放同业 五、4 407,840 344,537 313,212 256,786 
债券投资 五、5；六、1 1,768,784 1,562,320 1,452,030 1,297,990 
贷款 五、6；六、2 2,431,806 2,235,046 2,064,614 1,868,105 
减：贷款损失准备 五、7 (94,293) (83,153) (92,962) (79,581) 
应收利息 五、8 24,306 20,408 20,035 16,107 
股权投资 五、9；六、3 18,280 15,393 70,969 66,951 
固定资产 五、10 91,808 72,978 52,650 53,392 
在建工程 五、11 6,585 3,342 4,630 3,331 
递延税款借项 五、20 17,605 17,561 17,492 17,428 
其他资产 五、12 26,841 18,810 9,801 10,384 
资产总计 5,325,273 4,742,806 4,430,973 3,944,039 

中国银行股份有限公司 
2006年12月31日资产负债表(续) 
(除特别注明外，金额单位均为人民币百万元) 
4 
中国银行集团 中国银行 
负债 注释 2006 年 
12 月 31 日 
2005 年 
12 月 31 日 
2006 年 
12 月 31 日 
2005 年 
12 月 31 日 
对中央银行负债 五、13 42,374 30,055 42,349 30,030 
发行货币债务 五、14 36,823 35,731 1,909 1,786 
衍生金融产品及公允价值变 
动计入损益的负债 五、15 113,048 91,174 91,084 76,323 
同业存入及拆入 五、16 321,381 345,233 309,667 343,574 
客户存款 五、17；六、4 4,095,422 3,703,777 3,359,870 3,009,187 
应付利息 33,834 27,024 31,747 25,291 
借入其他资金 五、18 63,398 52,164 46,006 52,164 
发行债券 五、19 60,173 60,179 60,173 60,179 
递延税款贷项 五、20 1,104 184 30 22 
其他负债 五、21 139,902 134,665 99,668 111,641 
负债合计 4,907,459 4,480,186 4,042,503 3,710,197 
少数股东权益 五、23 29,560 28,778 - - 
股东权益 
股本 五、24 253,839 209,427 253,839 209,427 
资本公积 五、25 76,549 3,978 75,889 3,978 
盈余公积 五、26 10,380 5,987 10,380 5,987 
一般准备及法定储备金 五、27 13,934 5,109 13,934 5,109 
未分配利润 五、28 39,884 12,585 40,528 12,585 
可供出售债券公允价值变动 
储备 五、29 (2,439) (1,380) (2,439) (1,380) 
外币报表折算差额 (3,677) (1,864) (3,661) (1,864) 
库藏股 五、24 (216) - - - 
股东权益合计 388,254 233,842 388,470 233,842 
负债和股东权益总计 5,325,273 4,742,806 4,430,973 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年度利润表 
(除特别注明外，金额单位均为人民币百万元) 
5 
中国银行集团 中国银行 
注释 2006年 2005 年 2006 年 2005 年 
利息收入 五、30；六、5 214,670 167,345 172,997 138,739 
利息支出 五、30；六、5 (93,963) (66,940) (69,419) (53,500) 
净利息收入 120,707 100,405 103,578 85,239 
手续费及佣金收支净额 五、31；六、6 14,323 9,247 9,760 6,220 
净交易(损失)/收入 五、32；六、7 (3,779) 4,482 (3,792) 2,642 
投资收益/(损失) 五、33；六、8 3,831 (248) 12,899 10,167 
其他业务收支净额 五、34 2,546 2,142 1,868 692 
137,628 116,028 124,313 104,960 
业务及管理费 五、35；六、9 (53,614) (45,604) (44,923) (38,518) 
营业税金及附加 五、36 (6,462) (5,680) (6,388) (5,604) 
营业利润 77,552 64,744 73,002 60,838 
营业外收支净额 1,044 1,381 109 723 
扣除资产减值损失前利润总额 78,596 66,125 73,111 61,561 
资产减值损失 五、37；六、10 (11,587) (10,985) (13,812) (14,250) 
税前利润 67,009 55,140 59,299 47,311 
所得税 五、38 (19,857) (22,543) (16,802) (19,819) 
税后利润 47,152 32,597 42,497 27,492 
少数股东应享本年利润 (5,260) (5,105) - - 
净利润 41,892 27,492 42,497 27,492 
可供分配给本行股东的每股净收益 
（以元/股表示） 五、39 
— 每股基本净收益 0.18 0.15 
— 稀释后每股净收益 0.18 0.15 
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年度股东权益变动表 
(除特别注明外，金额单位均为人民币百万元) 
6 
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 库藏股 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 - - - - 41,892 - - - 41,892 
发行普通股 五、24；五、25 44,412 72,567 - - - - - - 116,979 
本年提取 五、26；五、27 - - 4,393 8,828 (13,221) - - - - 
可供出售债券公允价值 
净变动 五、29 
- - - - - (1,059) - - (1,059) 
股利分配 五、28 - - - - (1,375) - - - (1,375) 
外币报表折算差额 - - - - - - (1,813) - (1,813) 
购买库藏股 五、24 - - - - - - - (216) (216) 
其他 - 4 - (3) 3 - - - 4 
2006 年 12 月 31 日余额 253,839 76,549 10,380 13,934 39,884 (2,439) (3,677) (216) 388,254 
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年度股东权益变动表 
(除特别注明外，金额单位均为人民币百万元) 
7 
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 
本年净利润 - - - - 42,497 - - 42,497 
发行普通股 五、24；五、25 44,412 72,219 - - - - - 116,631 
本年提取 五、26；五、27 - - 4,393 8,828 (13,221) - - - 
可供出售债券公允价值 
净变动 五、29 
- - - - - (1,059) - (1,059) 
股利分配 五、28 - - - - (1,375) - - (1,375) 
外币报表折算差额 - - - - - - (1,797) (1,797) 
其他 五、25(2) - (308) - (3) 42 - - (269) 
2006 年 12 月 31 日余额 253,839 75,889 10,380 13,934 40,528 (2,439) (3,661) 388,470 
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年度股东权益变动表 
(除特别注明外，金额单位均为人民币百万元) 
8 
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 
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 
2005 年 1 月 1 日余额 186,390 - 3,140 419 17,373 (2,315) 344 205,351 
本年净利润 - - - - 27,492 - - 27,492 
发行普通股 五、24；五、25 23,037 3,964 - - - - - 27,001 
本年提取 五、26；五、27 - - 2,847 4,690 (7,537) - - - 
可供出售债券公允价值 
净变动 五、29 
- - - - - 935 - 935 
股利分配 五、28 - - - - (26,937) - - (26,937) 
联营企业权益法核算 
累积影响 五、28 
- - - - 2,194 - - 2,194 
外币报表折算差额 - - - - - - (2,208) (2,208) 
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年度现金流量表 
(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 
经营活动产生的现金流量 
收取的利息 203,494 162,085 
收取的手续费 16,872 10,779 
收回已核销贷款 3,589 1,201 
客户存款净增加额 391,645 350,683 
存放及拆放同业净减少额 5,266 9,966 
对中央银行负债净增加额 12,319 12,319 
其他与经营活动有关的项目变动净额 12,442 3,858 
现金流入小计 645,627 550,891 
支付的存款及同业往来利息 (84,379) (60,189) 
支付的手续费 (2,816) (1,027) 
支付给员工及为员工支付的现金 (27,399) (22,845) 
支付的业务管理费及其他 (17,564) (15,343) 
支付的所得税款 (25,536) (22,948) 
支付的营业税及其他税款 (6,955) (6,885) 
贷款净增加额 (200,349) (197,710) 
债券投资净增加额 (141,089) (88,235) 
存放中央银行净增加额 (69,063) (75,634) 
贵金属净增加额 (12,559) (12,755) 
同业存入及拆入净减少额 (23,852) (33,907) 
借入专项资金净减少额 (6,158) (6,158) 
现金流出小计 (617,719) (543,636) 
经营活动产生的现金流量净额 五、40；六、11 27,908 7,255 

中国银行股份有限公司 
2006年度现金流量表(续) 
(除特别注明外，金额单位为人民币百万元) 
10 
注释 中国银行集团 中国银行 
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 4,841 3,948 
处置股权投资所收到的现金 3,078 1,095 
分得股利或利润所收到的现金 201 7,192 
现金流入小计 8,120 12,235 
购建固定资产和其他资产所支付的现金 (7,425) (6,214) 
购买子公司所支付的现金净额 五、41 (5,373) - 
增加股权投资所支付的现金 (1,635) (579) 
现金流出小计 (14,433) (6,793) 
投资活动产生的现金流量净额 (6,313) 5,442 
筹资活动产生的现金流量 
吸收权益性投资所收到的现金 117,423 116,767 
少数股东行使购股权收到的现金 33 - 
吸收少数股东权益性投资所收到的现金 55 - 
现金流入小计 117,511 116,767 
偿还发行债券利息所支付的现金 (2,774) (2,774) 
向本行股东分配股利所支付的现金 (1,375) (1,375) 
向少数股东分配股利所支付的现金 (3,391) - 
购买库藏股支付的现金 (216) - 
上市费用支付的现金 (413) (413) 
现金流出小计 (8,169) (4,562) 
筹资活动产生的现金流量净额 109,342 112,205 
汇率变动对现金流量的影响额 (8,105) (3,483) 
现金及现金等价物净增加额 122,832 121,419 
现金及现金等价物－年初余额 397,112 275,623 
现金及现金等价物－年末余额 五、40；六、11 519,944 397,042 
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 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
11 
一 银行简介 
中国银行股份有限公司(以下简称“本行”)系国有控股股份制商业银行，其前身中国银行成 
立于 1912 年 2 月 5 日，早期曾履行中央银行职能，后改组为国际汇兑银行和国际贸易专业 
银行。1949 年中华人民共和国成立后，中国银行成为外汇专业银行。1994 年，中国银行开 
始从专业银行向国有商业银行转轨。根据国务院批准的中国银行股份制改革实施总体方案， 
中国银行于 2004 年 8 月 26 日整体改制为股份制商业银行，成立中国银行股份有限公司，完 
整承继中国银行的资产和负债。 
2005 年，本行引进国际投资者。2006 年 3 月，本行引入全国社会保障基金理事会作为战略 
投资者。2006 年 6 月，本行发行境外上市外资股(h 股)和境内上市普通股(a 股)，并于香港交 
易所和上海证券交易所上市。截至 2006 年 12 月 31 日止，中央汇金投资有限责任公司(以下 
简称“汇金”)持有本行 67.49%股份。 
本行经中国银行业监督管理委员会(以下简称“银监会”)批准持有 b10311000h0001 号金融 
许可证，并经国家工商行政管理总局核准领取注册证 1000001000134 号企业法人营业执 
照。 
本行及本行所属各子公司(以下简称“本集团”)的主要经营活动为在中国内地、香港和澳门 
特别行政区及主要国际金融中心城市提供全面的商业银行、投资银行、保险及相关金融服 
务。 
本行的主要监管者为银监会。本集团境外机构亦需遵循经营所在地监管机构的监管要求。 
本行总行及中国内地分支行统称为“境内机构”；经营所在地在香港、澳门特别行政区以及 
在中华人民共和国以外的分支机构及子公司统称为“境外机构”。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
12 
二 会计报表编制及合并基础 
1 会计报表编制基础 
本会计报表按照企业会计准则、《金融企业会计制度》及其他适用于本集团进行会计核算和 
处理的相关财会法规编制，包括财政部《关于债券资产会计处理问题的批复》(财会函 
[2004]61 号)等。 
本集团以权责发生制为记账基础；贵金属、交易性及其他公允价值变动计入损益的债券、可 
供出售债券、交易性股权投资、公允价值变动计入损益的负债、与客户存放贵金属相关的负 
债和所有衍生金融产品按公允价值计量，其他会计项目均按历史成本计量。公允价值是指在 
公平交易中熟悉情况的当事人自愿据以交换资产或清偿负债的金额。公允价值从活跃市场上 
的公开市场报价中取得，包括参考最近的市场交易，或使用一定的估值方法进行计算而得， 
例如贴现模型、期权定价模型等。 
2006 年 2 月，财政部发布了 38 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。本集团研究和评估了该等准则体系对本集团现行会计政 
策的具体影响，并自 2007 年 1 月 1 日起在本集团施行该等会计准则。本集团管理层初步预 
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。根据修订后的中 
国会计准则，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。本集团目前已对境外机构持有的交易性股权投资采用公允价值计量。本集团管理 
层计划对上述其他股权投资按修订后的中国会计准则要求，将其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项目中。 
(2) 在现行中国会计准则下，投资性房地产按历史成本扣除累计折旧及减值准备计量。根据修订 
后的中国会计准则，投资性房地产可根据管理层的决定采用公允价值模式或成本模式计量， 
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性房地产进行计 
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 
据修订后的中国会计准则，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。根据修订后的中国会计准则，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 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
13 
二 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 
四、控股子公司。 
本集团从取得子公司的实际控制权之日起予以合并；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。 
本集团对子公司收购采用购买法进行会计处理。收购成本为交易日放弃的资产、发行的权益 
性工具以及发生或承担负债的公允价值及收购的直接成本。因企业合并取得的可辨认资产以 
及负债和或有负债在初始计量时使用它们在收购日的公允价值，而不考虑少数股东权益，被 
收购子公司可辨认净资产公允价值与收购成本的差额确认为股权投资差额，并反映在合并资 
产负债表股权投资项目中。 
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 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
14 
三 主要会计政策及会计估计 
1 会计年度 
本集团的会计年度自公历 1 月 1 日起至 12 月 31 日止。 
2 外币业务核算及外币报表折算 
本合并会计报表以人民币作为报告货币列示。本集团各经营实体的会计报表项目以其所处的 
主要经济环境的货币，即功能性货币进行计量。 
本集团外币交易产生的汇兑收益或损失直接计入利润表。以外币为计量单位的货币性资产和 
负债在资产负债表日按照年末汇率进行折算，以外币为计量单位的收入和费用按照当期平均 
汇率进行折算，由此而产生的折算收益或损失计入利润表。 
本集团内各经营实体如使用与人民币不同的币种作为其功能性货币，其财务状况和经营成果 
按照如下方法折算成人民币： 
- 资产负债表中列示的资产和负债项目在资产负债表日按照年末汇率进行折算； 
- 利润表中的收入和费用项目按照当期平均汇率进行折算。 
- 产生的上述差异作为权益项目在“外币报表折算差额”中进行列报。 
在合并时，由于对境外机构的投资净额以及指定为该类投资套期保值的借款和其他汇率工具 
进行折算所产生的汇兑差异计入股东权益－“外币报表折算差额”。当出售境外机构时，该等 
汇兑差异作为出售境外机构损益的一部分在利润表中反映。 
本集团对在并购境外经营实体时产生的股权投资差额，将其作为境外经营实体的资产和负债 
处理，并且按照期末汇率进行折算。 
3 现金及现金等价物 
现金流量表中的现金及现金等价物是指现金及原始到期日在 3 个月内的货币资产，包括存放 
中央银行的非限定性存款、存放及拆放同业及短期票据。 
4 贵金属及贵金属互换 
本集团持有的贵金属主要包括在国际和国内市场上交易的黄金、白银及其他贵金属。贵金属 
按照取得时的实际金额入账，并于资产负债表日按市场价格估值，因市场价格变动产生的收 
益或损失计入利润表。 
本集团对于客户存放在本集团的贵金属承担风险并享有相关收益，包括可以进行自由抵押和 
转让。本集团于收到存放贵金属时确认资产，并同时确认相关负债。该项负债于资产负债表 
日以公允价值列示，估值收益或亏损计入利润表。 
在回购协议下出售的黄金及其他贵金属不予终止确认，相关负债视具体情况在“同业存入及 
拆入”或“对中央银行负债”项目中反映。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
15 
三 主要会计政策及会计估计 (续) 
5 债券资产 
交易入账日 
本集团购买和出售债券资产均在交易日(即本集团承诺购买或出售债券的当日)确认。 
债券资产分类 
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)，本集团将债券资产 
分为四类，分别是：交易性及公允价值变动计入损益的债券；分类为贷款及应收款的债券； 
持有至到期日债券和可供出售债券。其中，分类为贷款及应收款、持有至到期日和可供出售 
的债券，在资产负债表“债券投资”项目中合并列示。债券资产按照购买成本进行初始计量 
和确认。 
(1) 交易性及公允价值变动计入损益的债券 
交易性及公允价值变动计入损益的债券包括：为从债券市场的短期价格变动中获得收益而购 
买的债券，以及在购买日指定为以公允价值计量及其公允价值变动直接计入当期损益、且此 
分类在该债券的持有期间内不可改变的债券。此类债券在资产负债表日以公允价值列示，估 
值收益或估值亏损计入利润表。 
(2) 分类为贷款及应收款的债券 
分类为贷款及应收款的债券是指本集团持有的有固定或可确定支付金额且不存在活跃市场的 
债券。此类债券采用实际利率法进行摊销，在资产负债表日以扣除该类债券减值准备后的摊 
余成本列示。 
(3) 持有至到期日债券 
持有至到期日债券是指本集团有明确意图和能力持有至到期日、存在活跃市场交易、具有固 
定或可确定支付金额和固定期限的债券。此类债券采用实际利率法进行摊销，在资产负债表 
日以扣除该类债券减值准备后的摊余成本列示。 
(4) 可供出售债券 
可供出售债券包括指定为此类的债券以及不属于以上分类的债券。可供出售债券在资产负债 
表日按照公允价值列示，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 
益中确认的累计估值收益或估值亏损计入利润表。 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
16 
三 主要会计政策及会计估计 (续) 
5 债券资产 (续) 
债券投资减值准备 
本集团在每个资产负债表日对是否存在客观证据表明债券投资已经发生减值进行评估。如果 
有客观证据表明债券投资因在其初始确认后发生的一项或多项损失事件而发生减值、且损失 
事件对其预计未来现金流会产生可以可靠估计的影响时，确认此等债券投资已发生减值损 
失，计入当期损益。减值损失按债券投资的账面价值或摊余成本与其预计未来现金流的现值 
之差额计量。发生减值的客观证据包括发行人出现重大财务困难、发生逾期或长期拖欠等合 
同违约、或由于财务困难而导致活跃市场的消失等。 
如有客观证据表明分类为可供出售债券发生了减值，本集团将把已计入权益项目的累计损失 
从权益项目中转出并计入利润表。从权益项目中转出的累计损失金额为该债券的购入成本(减 
去偿还的本金和摊销额)和当前公允价值之间的差额，再扣除以前已计入利润表的减值损失。 
如果在以后的期间，减值损失的金额减少且金额的减少与确认减值后发生的事件有客观关联 
(例如，债务人的信用评级提高)，本集团通过调整准备金金额将以前确认的减值损失金额予 
以转回，转回的金额计入利润表。 
6 衍生金融产品 
衍生金融产品是指具有以下特征的金融工具或金融合约： 
- 其价值随着特定利率、金融工具价格、商品价格、汇率、价格或利率指数、信用等级或信 
用指数、或其他变量的变动而变动； 
- 不要求初始净投资，或与对市场条件变动具有类似反应的其他类型合同相比要求很少的净 
投资；和 
- 在未来某一日期结算。 
衍生金融产品初始以衍生交易合同签订当日的公允价值进行确认，并以其公允价值进行后续 
计量。因公允价值的变动而产生的估值收益或估值亏损计入当期损益，同时在资产负债表的 
“衍生金融产品资产”或“衍生金融产品负债”项目中反映。 
衍生金融产品初始确认时的公允价值之最好证据是交易价格(如所收到或给付对价的公允价 
值)，除非存在确认衍生金融产品公允价值的其他证据，如对比可观察到的当前市场交易中 
相同金融工具(即未经调整或重新打包)的价格，或运用某种所有变量均来自可观察市场的估 
值方法。当存在这样的证据时，本集团在交易当日确认损益。 
某些衍生金融产品会嵌入在其他金融产品中，如可转换债券持有人拥有的可转换期权。这些 
嵌入式衍生金融产品，当其经济特征和风险与主合同没有紧密联系，且主合同并非是以公允 
价值计量且其公允价值变动计入当期损益的金融产品，本集团对这些嵌入的衍生金融产品以 
公允价值单独计量，并且其公允价值变动计入当期损益。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
17 
三 主要会计政策及会计估计 (续) 
7 票据贴现/转贴现 
票据贴现 
票据贴现按照贴入票据面值入账，票据面值与实际支付贴现款项的差额确认为递延收益。递 
延收益在票据到期日前按实际利率法逐期摊销，计入票据贴现利息收入。在本会计报表中， 
票据贴现按票据面值扣减递延收益余额后的净值在“贷款”项目中列示。 
票据转贴现 
本集团亦将贴现票据转让给其他银行和金融机构(“转贴现”)进行融资。这些贴现票据在所 
有风险和收益被转让时予以终止确认。如果终止确认的条件不能满足，则该等交易被确认为 
有抵押的借款，相关的负债确认为同业拆入或对中央银行负债。 
8 贷款 
贷款按实际发放给借款人的金额核算，按照实际利率计算应收利息，并按摊余成本在资产负 
债表中列示。 
本集团将贷款分为应计贷款和非应计贷款。非应计贷款是指贷款本金或利息逾期超过 90 天 
没有收回的贷款。应计贷款是指非应计贷款以外的贷款。当应计贷款转为非应计贷款时，本 
集团将其已入账但尚未收取的应收利息和利息收入予以冲销，为其计提的利息停止计入利润 
表，而作为资产负债表外项目核算。从应计贷款转为非应计贷款后，在收到该等贷款的还款 
时，首先冲减贷款本金；贷款本金全部收回后，再收到的还款则确认为当期利息收入。在应 
计贷款转为非应计贷款后，如借款人能够及时偿还逾期本金及以往的欠息，并有足够的证据 
表明以后能够按期及时足额偿还贷款的本息，本集团才将该笔贷款从非应计贷款转回为应计 
贷款。 
本集团出售贷款时，在所出售的贷款资产的风险和报酬实质上全部转移给购买方且购买方对 
本集团并无追索权时，终止确认该等已出售的贷款资产。 
9 贷款损失准备及呆账核销 
(1) 贷款损失准备 
本集团在每个资产负债表日对是否存在客观证据表明贷款已经发生减值损失进行检查。其 
中，对单笔重大贷款进行逐笔检查；对单笔非重大贷款按情况进行逐笔检查或进行组合检 
查。如果没有客观证据表明进行逐笔检查的贷款存在减值情况，无论该等贷款是否重大，本 
集团将其与其他信贷风险特征相同的贷款一并进行组合减值检查及计量。如有客观证据表明 
影响该贷款或影响该类贷款组合的未来现金流的事件已发生且该等事件的财务影响可以可靠 
计量，本集团确认该等贷款或贷款组合发生减值损失，并计提减值损失准备。贷款减值的客 
观证据包括但不限于借款人逾期支付利息或逾期偿还本金、发生重大财务困难等。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
18 
三 主要会计政策及会计估计 (续) 
9 贷款损失准备及呆账核销 (续) 
如果有客观证据表明贷款已发生减值损失，则其损失将以贷款的账面金额与使用此贷款的原 
始实际利率贴现的预计未来现金流(不包括尚未发生的未来信用损失)的现值之间的差额进行 
计量，并计入利润表。如果贷款合约利率为浮动利率，用于确定贷款减值损失的贴现率则为 
按合同确定的当前实际利率。 
抵押贷款按照执行抵押物价值减去获得和出售抵押物成本的金额估计和计算未来现金流的现 
值。 
如果在以后的会计报表期间，减值损失的金额减少且该等减少与确认减值后发生的某些事件 
有客观关联(如债务人信用等级提高)，本集团通过调整准备金金额将先前确认的减值损失金 
额予以转回，转回的金额计入利润表。 
(2) 呆账核销 
当贷款经追讨确定无望收回时，在完成所有必要审批程序及确定损失金额后，本集团对该等 
贷款进行核销。核销后又收回的贷款金额在利润表中冲减贷款减值损失。 
10 股权投资 
股权投资分类 
股权投资包括对子公司的投资、对联营企业的投资、对合营企业的投资、交易性股权投资及 
其他股权投资。 
(1) 投资子公司 
子公司是本行直接或间接拥有其 50%以上的表决权资本，或虽拥有其 50%以下的表决权资本 
但本行能够决定其财务和经营政策并能据以从其经营活动中获取利益的实体。本行对子公司 
的投资采用权益法核算。 
本集团对子公司会计报表合并编制的基础见注释二、会计报表编制及合并基础。 
(2) 投资联营企业 
联营企业是指本集团对其虽无控制但能够施加重大影响的实体，通常本集团拥有其 20%至 
50%的表决权。本集团对联营企业的股权投资按照初始投资成本入账，并采用权益法进行核 
算。本集团对联营企业的投资包含购买时的初始成本与享有被投资单位所有者权益份额之间 
的差额，本集团将其确认为股权投资差额，在不超过 10 年的期限内进行摊销。 
本集团购买联营企业后应享有的联营企业收益或应承担的联营企业亏损直接反映在利润表 
中，联营企业其他所有者权益变动直接反映在本集团的股东权益中。本集团在购买联营企业 
后根据联营企业发生的累计所有者权益变动额按所占投资比例调整投资成本。除非本集团已 
为联营企业承担债务或已为其垫付资金，本集团在确认联营企业发生的净亏损时以投资账面 
价值减计至零为限。 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
19 
三 主要会计政策及会计估计 (续) 
10 股权投资 (续) 
本集团与联营企业间交易的未实现收益已按本集团享有联营企业的投资比例从本集团享有联 
营企业的权益中扣减；除非交易提供了转让资产发生减值的证据，否则未实现损失也已被抵 
销。如有需要，在编制合并会计报表时，本集团对联营企业的会计政策进行调整以确保其与 
本集团所采用的会计政策相一致。 
(3) 投资合营企业 
合营企业是指本集团与其他合营者能共同控制的被投资单位。本集团对合营企业的股权投资 
按照初始投资成本入帐，并采用权益法进行核算。 
采用权益法核算时，投资损益按应享有或应分担的被投资企业当年实现的净利润或发生的亏 
损的份额确认，并调整股权投资的账面价值，确认被投资公司发生的净亏损以股权投资的账 
面价值减至零为限。被投资单位所分派的现金股利则于股利宣告分派时相应减少股权投资的 
账面价值。 
本集团与合营企业间交易的未实现收益已按本集团享有合营企业的投资比例从本集团享有合 
营企业的权益中扣减；除非交易提供了转让资产发生减值的证据，否则未实现损失也已被抵 
销。如有需要，在编制合并会计报表时，本集团对合营企业的会计政策进行调整以确保其与 
本集团所采用的会计政策相一致。 
(4) 交易性股权投资 
本行子公司持有的交易性股权投资在资产负债表日以公允价值列示，因公允价值变动而产生 
的估值收益或估值亏损计入利润表。 
(5) 其他股权投资 
本集团持有的不属于上述(1)至(4)类的其他股权投资项目按成本扣除减值准备在资产负债表中 
列示。 
股权投资减值准备 
本集团在每个资产负债表日对是否存在客观证据表明股权投资已经发生减值进行评估。在判 
断股权投资减值时，本集团考虑权益性投资的可收回金额是否出现大幅或持续下跌从而导致 
可收回金额低于股权投资成本的情况。如果该等客观证据存在，本集团将股权投资账面价值 
和可收回金额之间的差额即减值损失计入利润表。如果期后该等股权投资的可收回金额回 
升，且该回升与在减值损失确认后发生的某些事件有客观关联，则减值损失在利润表中予以 
冲回。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
20 
三 主要会计政策及会计估计 (续) 
11 固定资产和折旧 
(1) 房屋建筑物、土地使用权、固定资产改良支出、机器设备及运输工具 
固定资产是指本集团为经营目的而持有的使用期限超过一年的房屋及建筑物、土地使用权、固 
定资产改良支出、机器设备及运输工具等。房屋及建筑物主要包括分行网点物业和办公楼。固 
定资产以历史成本扣除累计折旧及减值准备后的净值列示。历史成本包括为取得该固定资产而 
直接发生的费用。对为国有企业股份制改革的目的而进行评估的固定资产，本行按其经财政部 
确认后的评估值作为评估基准日的入账价值。 
固定资产折旧根据固定资产原值减去预计残值后的金额按其预计使用年限以直线法计提。有关 
固定资产的预计使用年限列示如下： 
预计使用年限 
房屋及建筑物 15-50 年 
土地使用权 10-70 年 
固定资产改良支出 经济使用年限或剩余租赁年限孰低 
机器设备 3-15 年 
运输工具 4-6 年 
本集团在每个资产负债表日均对固定资产的预计残值和预计使用年限等会计估计进行审阅，并 
根据实际情况作出适当调整，计算固定资产折旧。 
与固定资产有关的后续支出，包括固定资产装修费，只有当其产生的未来经济利益很可能流入 
本集团并且该支出可以可靠计量时，才能将其计入固定资产。所有其他与固定资产有关的后续 
支出均在发生时直接计入当期损益。 
当有迹象表明固定资产的可收回金额低于其账面价值时，本集团按照可收回金额低于账面价值 
的差额计提固定资产减值准备，并在利润表中反映。固定资产的可收回金额是指固定资产的销 
售净价与预期从该固定资产的持续使用和使用寿命结束时的处置中形成的现金流量的现值两者 
之间的较高者。对计提了减值准备的固定资产，本集团在未来期间按扣除减值准备后的账面价 
值及尚可使用年限确定折旧额。若固定资产的可收回金额高于其已计提资产减值准备后的账面 
净值，按可收回金额高于账面净值的部分冲回多计提的减值准备，但冲回的减值准备，仅限于 
已计提的减值准备的账面余额。 
固定资产出售或报废的处置收入扣除其账面净值和相关税费后的差额计入营业外收入或营业外 
支出。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
21 
三 主要会计政策及会计估计 (续) 
11 固定资产和折旧(续) 
(2) 飞行设备 
飞行设备以成本扣除累计折旧和减值准备后的净值列示。其成本已经扣减了生产厂商折扣。为 
维持飞行设备的可服务状态而发生的改造、改良或其他支出在租赁期间计入固定资产成本。 
飞行设备根据原值减去 15%的预计净残值、按照 25 年的预计使用年限(扣除购买时已使用年 
限)以直线法计提折旧。 
当某些事件的发生或环境发生变化显示飞机的账面价值可能无法回收时，本集团将对飞行设备 
定期进行减值检查。 
飞行设备出售或报废的处置收入扣除其账面价值和相关税费后的净值计入利润表。 
12 在建工程 
在建工程是指正在建设或安装的资本性资产，以成本计价。成本包括设备原价、建筑成本、安 
装成本和发生的其他直接成本。在建工程在达到预定可使用状态时，转入固定资产并自次月起 
开始计提折旧。 
对于长期停建并预计不会重新开工或涉案纠纷的在建工程, 如可收回金额低于账面价值，对其 
计提减值准备，并在利润表中反映。若在建工程的可收回金额高于其已计提资产减值准备后的 
账面净值，按可收回金额高于账面净值的部分冲回多计提的减值准备，但冲回的减值准备，仅 
限于已计提的减值准备的账面余额。 

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会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
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三 主要会计政策及会计估计 (续) 
13 其他资产 
(1) 抵债资产 
抵债资产按照实际抵偿的贷款本金和表内应收利息金额入账，并按其入账金额扣除减值准备 
后的金额在资产负债表中列报。 
抵债资产保管过程中发生的费用直接计入营业外支出，处置过程中发生的费用从处置收入中 
抵减。 
本集团定期对抵债资产进行检查，如抵债资产实质上已经发生了减值，即其预计处置价格减 
去所发生的资产处置费用后的金额低于账面价值，本集团对其计提减值准备，并在利润表中 
反映。 
(2) 无形资产 
无形资产主要包括与飞行设备有关的期权和不可撤销的订单以及电脑软件等。与购买飞行设 
备相关的期权和不可撤销的订单在并购日以公允价值进行初始确认，不进行摊销，在有关飞 
行设备订单执行时，直接转入飞行设备的成本中。其他无形资产按取得时的实际成本入账， 
并自取得当月起按预计使用年限与有效受益年限之较低者平均摊销，计入利润表。 
对因技术进步等原因，导致可收回金额低于无形资产账面价值，本集团计提无形资产减值准 
备，并在利润表中反映。若无形资产的可收回金额高于其已计提资产减值准备后的账面净 
值，按可收回金额高于账面净值的部分冲回多计提的减值准备，但冲回的减值准备，仅限于 
已计提的减值准备的账面余额。 
(3) 信托债转股投资 
信托债转股投资是指本集团境内机构委托中国东方资产管理公司管理的债转股投资。根据财 
政部《关于债转股账务处理有关问题的意见》(财办金[2001]198 号)和《关于银行债转股股权 
处理问题的函》(财金函[2002]6 号)，本集团按债转股的贷款本金和表内应收利息入账；表外 
应收利息作为整体债权实施债转股，不确认收入，待处置变现形成收入时，才确认为收益。 
信托债转股投资按其债转股入账金额扣除减值准备在“其他资产”项目中列示，减值损失计 
入利润表。 
(4) 长期待摊费用 
长期待摊费用主要包括一次性支付的受益期在一年以上的房屋租赁费及摊销期限在一年以上 
的其他待摊费用。房屋租赁费按租赁合同中约定的租赁期限平均摊销，其他长期待摊费用按 
受益期限平均摊销。 
如果长期待摊费用项目不能使以后会计期间受益，则将该项目的摊余价值全部计入利润表。 
(5) 其他应收及暂付款 
本集团定期分析各项应收款项的可收回性。当应收款项的可收回金额低于其账面价值时，本 
集团计提坏账准备，并在利润表中反映。 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
23 
三 主要会计政策及会计估计 (续) 
14 买入返售款项、卖出回购款项及债券出租 
买入返售是指本集团按合同或协议规定，以一定的价格向交易对手买入相关资产(包括债券、 
票据)，到合同规定日期，再以规定价格返售给对方的合约。买入返售按买入返售相关资产时 
实际支付的金额入账，在“存放及拆放同业”项目中反映。买入返售合约下的相关资产按获 
取质押品处理，不计入资产负债表。 
卖出回购是指本集团按合同或协议规定，以一定的价格将相关资产(包括债券、票据)出售给 
交易对手，到合同规定日期，再以规定价格回购的合约。卖出回购按卖出回购相关资产时实 
际收到的金额入账，在“同业存入及拆入”或“对中央银行负债”项目中反映。卖出回购合 
约下的相关抵押资产仍在资产负债表的“债券投资”和“贷款”等项目中反映。 
返售或回购业务的买卖价差，在返售或回购期间内以实际利率法确认为利息收入或支出。 
债券出租业务通常以收取债券、预付的现金或收到的现金作为抵押品。出租至交易对手的债 
券继续在财务报表中确认。作为抵押品收到或预付的现金确认为资产或负债。 
15 借入资金 
借入资金主要包括借入专项资金和发行债券。 
借入资金初始按其公允价值入账，即以实际收到的款项(收到对价的公允价值)减去发生的交 
易费用的差额入账，并按摊余成本在资产负债表中列示。对实际收到的款项净额和到期应偿 
还金额之间的差额采用实际利率法在借款期间内摊销并计入利润表。 
如果本集团购买自己发行的债券，借入资金将在资产负债表中终止确认，而其账面价值与支 
付金额之间的差额记入利润表中。 
16 预计负债 
本集团因过去事项而形成的某些现时法定或推断义务，且该义务的履行很可能会导致经济利 
益的流出，在该支出金额能够可靠计量时，确认为预计负债。 
17 员工福利 
(1) 养老金设定提存计划 
境内机构在职员工，依据国家和地方有关政策，参加由各地劳动和社会保障部门组织实施的 
社会基本养老保险。境内机构以各地规定的社会基本养老保险缴纳基数和比例，按月向当地 
社会基本养老保险经办机构缴纳养老保险费。员工退休后，各地劳动及社会保障局有责任向 
已退休员工支付社会基本养老金。此外，境内机构员工在参加社会基本养老保险的基础上自 
愿参加本行依据国家企业年金制度的相关政策建立的中国银行股份有限公司企业年金计划 
(“年金计划”)，本行按员工工资总额的一定比例向年金缴款。 
境外机构符合相关资格的员工参加当地认可的养老金设定提存计划。境外机构按员工基本工 
资的一定百分比向养老金设定提存计划缴款。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
24 
三 主要会计政策及会计估计 (续) 
17 员工福利 (续) 
(1) 养老金设定提存计划 (续) 
本集团养老金设定提存计划(包括年金计划)相关缴款于发生时计入利润表。如社会基本养老 
保险金计划和年金计划不具有足够的资金来支付与当期或以前期间员工服务相关的或员工期 
望的员工基本养老保险和补充退休福利时，本集团不负有进一步支付养老金的法定义务或推 
定义务。 
如出现员工在有权享有本行支付的养老金设定提存计划缴款前退出该计划，而被没收的提存 
金，由本集团根据经营机构所在地的相关政策可用作扣减当期的提存金负担或归属于企业年 
金。 
(2) 养老金设定受益计划 
根据国家有关政策，本行在股份制改革时对 2003 年 12 月 31 日前境内机构离退休的员工承 
诺提供除社会基本养老保险之外的补充退休福利，包括补充养老金和补充医疗福利。养老金 
设定受益计划由本行聘用的精算师使用预期累计福利单位法进行精算，反映在资产负债表的 
“其他负债”项目中。以后年度实际支付该等员工的补充退休福利时，相应冲减“其他负 
债”。本行养老金设定受益计划负债是将预期未来现金流出额按与员工福利负债期限相类似 
的国债利率折现计算的。精算利得或损失、精算假设的变化和养老金计划的修改在发生当期 
计入合并利润表，过去服务成本在当期利润表中确认。 
(3) 内部退养福利 
内部退养福利是本行为未达到国家规定的退休年龄，经本行批准，自愿退出工作岗位休养的 
员工支付的自内部退养日起至达到国家规定的退休年龄期间的各项福利费用，包括退养金、 
继续向当地劳动和社会保障部门缴纳的各项保险费医疗支出及企业年金供款等。根据国家有 
关政策，本行为境内机构已退出工作岗位但尚未达到国家规定退休年龄的员工支付的内部退 
养福利，在实际支付时计入利润表。 
内部退养员工达到国家规定的退休年龄后，与正常退休员工一样享受社会基本养老和由企业 
年金提供的补充退休福利。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
25 
三 主要会计政策及会计估计 (续) 
17 员工福利 (续) 
(4) 住房公积金 
境内机构在职员工均按当地政府规定参加当地住房公积金计划。境内机构每月按照员工工资 
的一定比例向住房公积金计划支付住房公积金，并在发生时将其计入利润表。 
(5) 股票期权计划 
(a) 以权益结算的支付计划 
本集团设立以股份为基础、以权益结算的支付计划。为获取员工服务所授予的股票期权的公 
允价值确认为费用，并相应增加权益。在授予期间列入费用的总金额由所授予的股票期权的 
公允价值决定，但不包括任何非市场性的行权条件。权益性工具的公允价值在授予日即予确 
定，不再进行后续计量。非市场性的行权条件已包括在关于预计可执行期权数量的假设中。 
在资产负债表日，本集团将重新估计预计可执行期权的数量。由于改变原先的估计而产生的 
影响在剩余的授予期间计入利润表，并相应调整所有者权益。 
当执行股票期权时，本集团获得的对价扣除可直接分摊的交易费用计入股本面值和股本溢 
价。 
(b) 以现金结算的支付计划 
本集团还设立以现金结算为基础的股票增值权计划。为获取员工服务所授予的股票增值权在 
员工服务期间以公允价值计入相关成本及负债。该等股票增值权按照授予日时的公允价值入 
账，直到支付该项负债。在资产负债表日，本集团将重新估计股票增值权的公允价值，并将 
其变化计入当期利润表。本集团选用适当的估值模型确定公允价值。 
在授予期间列入费用的总金额由所授予的股票期权的公允价值决定，但不包括任何非市场性 
的行权条件。非市场性的行权条件已包括在关于预计可执行期权数量的假设中。在资产负债 
表日，本集团将重新估计可执行期权的数量。由于改变原先的估计而产生的影响在剩余的授 
予期间计入利润表，并相应调整负债。 
(6) 奖金计划 
本集团根据经营业绩和可归属于本行股东的利润情况确认奖金金额，并计入相关负债和费 
用。本集团在有合约义务支付奖金或根据过去的经验形成支付奖金的推定义务时确认预计负 
债。 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
26 
三 主要会计政策及会计估计 (续) 
18 股本/普通股股利 
(1) 股票发行成本 
由于发行新股而产生的直接成本，从发行所得中扣除。 
(2) 普通股股利 
普通股股利在公司董事会批准后在权益中列示，在公司股东大会批准后确认为负债。在资产 
负债表日后宣布发放的股利作为期后事项披露。 
(3) 库藏股 
本行或本集团的子公司购买本行的股票时，以其支付的对价作为库藏股列示，直到这些股票 
被注销、出售或重新发行。期后这些股票被出售或重新发行时，所有收到的对价在股东权益 
中予以反映。 
19 利息收入和支出 
利息收入和支出按实际利率法在利润表中确认。非应计贷款的应收利息在表外核算。 
实际利率法是一种计算某项金融资产或金融负债的摊余成本以及在相关期间分摊利息收入或 
利息支出的方法。实际利率是在金融工具预计到期日或在某一恰当较短期间内，将其未来现 
金流贴现为账面净额所使用的利率。本集团在估计未来现金流时，会考虑金融工具的所有合 
同条款，但不会考虑未来的信用损失。在计算实际利率时，本集团会考虑交易成本、折溢价 
和合同各方之间收付的所有与实际利率相关的费用。 
20 手续费及佣金收入 
手续费及佣金收入通常在提供相关服务时确认。 
与可能形成放款的贷款承诺相关的手续费收入连同其直接成本作为递延收益，在贷款期内按 
照实际利率法摊销。当银团贷款安排已完成且本集团自身未保留任何贷款或按其他银团成员 
相同的实际利率保留部分贷款时，银团贷款手续费确认为收入。 
因诸如安排股票、其他证券及业务收购或出售等代表第三方进行交易协商或参与交易协商而 
产生的手续费和佣金，一般于相关交易完成时确认。 
资产组合及其他管理咨询和服务费根据服务合同，一般以合同约定的时间按比例确认。与投 
资基金有关的资产管理费及资产托管服务费按比例在提供服务的期间进行确认。 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
27 
三 主要会计政策及会计估计 (续) 
21 租赁 
(1) 经营租赁 
如果出租人仍保留了租赁资产的主要风险和报酬，这类租赁为经营性租赁。作为承租方，经 
营性租赁所有相关支付款项(扣除从出租人收取的奖励费)，包括在租赁开始时可单独识别的 
土地使用权的付款，在租赁期限内以直线法分摊计入合并利润表。 
由于经营性租赁活动被提前终止而需要向出租方支付的罚款于租赁终止当期确认为费用。 
如本集团为出租方，出租的资产在固定资产中反映，租金收入在租赁期内按直线法摊销，计 
入合并利润表。 
(2) 融资租赁 
本集团对所租赁的资产实质上拥有与资产所有权相关的全部风险和报酬时，将其归类为融资 
租赁。融资租入的资产在租赁开始时，按照最小租赁付款额的现值予以资本化。租赁付款额 
在融资费用和租赁负债的减少之间进行分配，从而保证租赁负债余额承担的利率在租赁期间 
是一致的。融资费用直接计入利润表。 
当资产以融资租赁方式租出时，租赁支付额的现值作为应收款予以确认。应收款与应收款现 
值之间的差额确认为未实现的融资租赁收入。 
本集团使用净投资法确认租赁期间的融资收入，该方法反映了租赁期间固定的回报率。 
22 税项及所得税会计处理方法 
(1) 税项 
境内机构所得税税率为 33%，境外机构的所得税按经营所在地相关税务法规和税率计算缴 
纳。本行按照财政部、国家税务总局颁布的《境外所得计征所得税暂行办法(修订)》，对境外 
机构所得在境内采用定率扣除法按 16.5%的税率补缴所得税。其他税项主要指境内机构缴纳 
的营业税，按金融业务收入的 5%缴纳。应交营业税的金融业务收入主要包括贷款利息收 
入、金融商品转让收入、手续费及佣金收入和其他业务收入等。 

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28 
三 主要会计政策及会计估计 (续) 
(2) 所得税会计处理方法 
本集团对所得税费用的会计处理采用纳税影响会计法。递延税项按债务法根据时间性差异计 
算。时间性差异是指因有关税收法规与会计制度在确认收入、费用或损失的时间不同而产生 
的税前会计利润与应纳税所得额两者之间的差异。本集团主要的时间性差异来自贷款损失准 
备、其他资产减值准备、交易性及公允价值变动计入损益的债券和衍生金融产品估值以及固 
定资产折旧等。本集团按现行适用税率对时间性差异的累计所得税影响金额进行会计处理。 
当可抵减的时间性差异能在近期转回且预计有足够的应纳税所得额可以抵减时，本集团将其 
纳税影响金额确认为递延税款借项。 
本集团对由子公司和联营企业投资引起的时间性差异确认递延所得税，除非本集团对该时间 
性差异转回的时间能够控制，以及该时间性差异在可预见的未来不会转回。 
23 受托业务 
本集团通常作为代理人、受托人或在其他受托业务中为证券投资基金、社会保障基金、保险 
公司、合格境外投资者、年金计划和其他机构持有和管理资产。这些代理活动所涉及的资产 
不属于本集团，因此不包括在本集团资产负债表中。 
本集团也经营委托贷款业务。委托贷款业务指由委托人提供资金，本集团根据委托人确定的 
贷款对象、用途、金额、利率及还款计划等代理发放并协助收回的贷款，其风险由委托人承 
担，本集团只收取相关手续费。委托贷款不纳入本集团资产负债表。 
24 承兑 
承兑是指本集团对客户签发的票据作出的付款承诺。本集团预期大部分承兑业务会在履行付 
款责任的同时由客户付款结清。承兑在表外科目中核算，并作为或有负债及承诺予以披露。 
25 或有负债 
或有负债是指由过去的交易或事项引起的可能需要履行的义务，其存在只能由本集团所不能 
完全控制的一项或多项未来事件是否发生来确定。或有负债也可以是由于过去事项而产生的 
现实义务，但由于其并不导致经济利益的流出或者经济利益的流出不能可靠计量，因此该等 
义务未被确认。 
或有负债通常不作为预计负债确认，仅在注释中加以披露。如情况发生变化使得该事项很可 
能导致经济利益的流出时，则将其确认为预计负债，见注释三、16，预计负债。 

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三 主要会计政策及会计估计 (续) 
26 以抵销后的净额列示金融资产和负债 
当依法有权抵销债权债务且交易双方准备按净额进行结算时，金融资产和负债以抵销后的净 
额在资产负债表列示。 
27 重分类 
比较期间会计报表的部分项目已按本年度会计报表的披露方式进行了重分类。 

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30 
四 控股子公司 
本行主要控股子公司于 2006 年 12 月 31 日的基本情况列示如下。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，间接控股的子公司以实际有效的出资/控股比例反 
映。 
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 
新加坡飞机租赁有限责任公司 (4) 新加坡 100.00 美元 308 百万 飞机租赁业务 
(1) 在香港交易所上市。 
(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。 
(4) 根据本集团在香港的子公司中银集团投资有限公司与新加坡飞机租赁有限责任公司(以下简称 
“飞机租赁公司”)签订的收购协议，本集团于 2006 年 12 月 15 日支付 9.78 亿美元，收购飞机 
租赁公司 100%的股权。见注释五、41。 

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31 
五 合并会计报表主要项目注释 
1 存放中央银行 
2006年12月31日 2005年12月31日 
存放中国人民银行备付金 95,914 89,124 
存放其他中央银行 5,862 25,787 
小计(1) 101,776 114,911 
缴存中国人民银行人民币存款准备金 254,381 182,825 
缴存中国人民银行外币存款准备金 17,913 13,595 
缴存中国人民银行财政性存款 3,331 3,355 
缴存其他中央银行存款准备金 2,230 2,255 
小计(2) 277,855 202,030 
合计 379,631 316,941 
(1) 包括在现金及现金等价物中的存放中央银行金额为 1,017.76 亿元 (2005 年：1,081.49 亿 
元)，见注释五、40。 
(2) 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 12 月 31 日，境内机构人民币存款准备金缴存比率为 9%(2005 年：7.5%)，境内机 
构外币存款准备金缴存比率为 4% (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。 
法定存款准备金不能用于本集团日常经营活动。 

中国银行股份有限公司 
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2006年度 
(除特别注明外，金额单位为人民币百万元) 
32 
五 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12月31日 2005年12月31日 
交易性债券 
政府债券 17,802 19,116 
公共实体及准政府债券 1,032 2,095 
金融机构债券 22,644 30,599 
公司债券 4,204 4,179 
小计 45,682 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 20,444 10,704 
公共实体及准政府债券 8,559 12,974 
金融机构债券 30,225 19,979 
公司债券 5,724 7,625 
小计 64,952 51,282 
合计 110,634 107,271 
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。 

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2006年度 
(除特别注明外，金额单位为人民币百万元) 
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五 合并会计报表主要项目注释 (续) 
3 衍生金融产品 
本集团主要以交易、资产负债管理及代客为目的而叙做下列与汇率和利率相关的衍生金融产 
品： 
远期外汇合同指本集团已承诺在未来某一时点买卖外汇的交易。外币和利率期货是指根据合 
同按照汇率或利率的变化以净额收取或支付的合约，或者在交易所管理的金融市场上按约定 
价格在未来的某一日期买进或卖出外币或利率金融工具的合约。远期利率合同是经单独协商 
而达成的利率期货合同，要求在未来某一日基于名义本金，根据合同利率与市场利率的差异 
与对手进行计算及现金交割。 
货币及利率互换是指交换不同现金流量的承诺。互换的结果是不同货币或利率的经济利益交 
换(如固定利率与浮动利率交换)或两者皆有的经济利益交换组合(如交叉货币利率互换)。除 
某些货币互换合同外，该等交易无需交换本金。 
外汇及利率期权是指期权的卖方(出售方)为买方(持有方)提供在未来某一特定日期或未来一 
定时期内按约定的价格买进或卖出一定数量的外币或某种金融资产的权利(而非义务)的一种 
合约。本集团通过与对手方在场外协商或者在交易所交易叙做期权合同，考虑到外汇和利率 
风险，期权的卖方从买方收取期权费。 
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，本集团通过估值方法确定其公允价值，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。另外，在确定公允价值时，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。 

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2006年度 
(除特别注明外，金额单位为人民币百万元) 
34 
五 合并会计报表主要项目注释 (续) 
3 衍生金融产品 (续) 
2006 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 
远期外汇合同及外汇掉期(1) 993,008 11,860 (4,974) 
买入货币期权 (2) 187,446 5,735 - 
卖出货币期权 38,272 - (419) 
小计 17,595 (5,393) 
利率衍生金融产品 
利率互换合同 369,093 4,236 (4,832) 
交叉货币利率互换合同 34,793 1,532 (2,932) 
买入利率期权 41,151 592 - 
卖出利率期权 48,939 - (161) 
利率期货 14,675 40 (9) 
小计 6,400 (7,934) 
权益衍生金融产品 10,572 453 (390) 
贵金属衍生金融产品 10,520 389 (606) 
衍生金融产品资产/(负债)合计 (注释五、15) 24,837 (14,323) 

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2006年度 
(除特别注明外，金额单位为人民币百万元) 
35 
五 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 
远期外汇合同及外汇掉期 (1) 563,397 6,991 (4,813) 
买入货币期权 (2) 176,643 3,781 - 
卖出货币期权 19,369 - (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) 
买入利率期权 11,584 148 - 
卖出利率期权 98,994 - (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 (注释五、15) 16,808 (15,752) 
(1) 自 2005 年起，本行与中国人民银行叙做了一系列货币掉期交易，以合理安排本行的资产和 
负债的币种匹配。在这些交易中，中国人民银行即期卖出美元买入人民币，并在一年或三年 
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) 本行于 2005 年 1 月 5 日与汇金签署了一份合同金额为 180 亿美元(折人民币 1,405.57 亿元) 
的外币期权合同，目的是对部分资产负债表内外汇敞口净额进行经济套期保值。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 的固定价格 
向汇金出售美元，每次交易不超过 15 亿美元，共计 180 亿美元。本行须向汇金支付相关期 
权费用 44.69 亿元，此期权费用于 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。截至 2006 年 12 月 31 日止，与汇金叙做的美元期权合同的公允价值为 51.80 亿元 
(2005 年：32.31 亿元)。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
36 
五 合并会计报表主要项目注释 (续) 
4 存放及拆放同业 
2006年12月31日 2005年12月31日 
存放同业 
存放境内同业 1,581 4,305 
存放境外同业 7,121 8,133 
小计 8,702 12,438 
拆放同业 (1) 
拆放境内银行 33,567 52,439 
拆放境内非银行金融机构 21,579 26,302 
拆放境外同业 344,491 253,904 
拆放同业原值 399,637 332,645 
拆放同业减值准备 (499) (546) 
小计 399,138 332,099 
合计 (2) 407,840 344,537 
(1) 截至2006年12月31日止，拆放同业余额中非应计拆放同业为4.99亿元(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12月31日 2005年12月31日 
买入返售贴现票据 8,165 7,592 
买入返售债券 
政府债券 22,069 41,857 
金融机构债券 46,378 20,191 
合计 76,612 69,640 
(2) 截至2006年12月31日止，包括在现金等价物中的存放及拆放同业为3,133.13亿元(2005年： 
2,447.44亿元)，见注释五、40。 

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2006年度 
(除特别注明外，金额单位为人民币百万元) 
37 
五 合并会计报表主要项目注释 (续) 
5 债券投资 
2006年12月31日 2005年12月31日 
可供出售债券 (以公允价值列示) 
政府债券 297,129 229,064 
公共实体及准政府债券 152,822 106,840 
金融机构债券 230,999 170,038 
公司债券 126,358 87,068 
小计 807,308 593,010 
持有至到期日债券 (以摊余成本列示) 
政府债券 146,502 231,156 
公共实体及准政府债券 97,025 135,002 
金融机构债券 172,666 203,724 
公司债券 44,947 37,577 
小计 461,140 607,459 
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 (1) 160,000 160,000 
中国人民银行－专项票据 (2) 91,612 91,530 
－定向票据 (3) 28,702 - 
财政部特种国债 (4) 42,500 42,500 
长期债券 
－金融机构债券 14,545 1,545 
短期票据 (5) 
－公共实体及准政府债券 3,895 6,096 
－金融机构债券 139,659 49,993 
－公司债券 6,623 - 
凭证式国债及其他 12,952 10,343 
500,488 362,007 
分类为贷款及应收款的债券减值准备 (152) (156) 
小计 500,336 361,851 
合计 (6) 1,768,784 1,562,320 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
38 
五 合并会计报表主要项目注释 (续) 
5 债券投资 (续) 
(1) 1999 年和 2000 年间，本行向中国东方资产管理公司剥离不良资产。中国东方资产管理公司 
于 2000 年 7 月 1 日向本行定向发行面额为 1,600.00 亿元的金融债券。该债券期限为 10 
年，年利率为 2.25%。根据《财政部关于中国银行和中国建设银行所持金融资产管理公司债 
券本息有关问题的通知》(财金[2004]87 号)，从 2005 年 1 月 1 日起，如中国东方资产管理 
公司不能足额向本行支付债券利息或按期兑付本金，财政部将给予资金支持。 
(2) 2004 年 6 月 30 日，中国人民银行向本行定向发行专项中央银行票据 181.00 亿元，用于置 
换本行政策性资产。该票据期限 3 年，年利率 1.89%。本行受托处置该等政策性资产。 
2004 年 6 月 30 日，本行运用向中国信达资产管理公司出售不良贷款所得的资金 734.30 亿 
元定向购买中国人民银行发行的等额专项中央银行票据。该票据期限 5 年，年利率 1.89%。 
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%。 
上述专项中央银行票据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 
务的抵押物。中国人民银行可选择提前兑付部分或全部专项票据。 
(3) 本行于 2006 年 5 月 16 日和 2006 年 7 月 13 日向中国人民银行分别购入中国人民银行定向 
票据 80.00 亿元和 210.00 亿元。该等定向票据期限 1 年，年利率 2.11%。 
上述定向中央银行票据未经中国人民银行批准，不能流通、转让和抵押。 
(4) 1998 年 8 月 18 日，财政部向本行定向发行面额为 425.00 亿元的特别国债。该项债券期限 
为 30 年，自发行日起至 2004 年 11 月 30 日止期间的年利率为 7.2%，相关利息收入根据国 
家有关规定作等额上缴中央财政支出处理，不计入利润表。根据《全国人民代表大会常务委 
员会关于批准〈国务院关于 1998 年特别国债付息问题的报告〉的决议》(人大常会字 
[2004]25 号) ，该项债券年利率调整为 2.25%。自 2004 年 12 月 1 日起，财政部按 2.25%的 
年利率向本行支付该项债券利息，且不再要求本行就此债券利息作等额上缴中央财政支出处 
理。 
(5) 截至 2006 年 12 月 31 日止，包括在现金等价物中的短期票据为 737.45 亿元(2005 年： 
155.75 亿元)，见注释五、40。 
(6) 截至 2006 年 12 月 31 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 552.12 
亿元 (2005 年：496.58 亿元)，见注释十一、2。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
39 
五 合并会计报表主要项目注释 (续) 
5 债券投资 (续) 
(7) 可供出售及持有至到期日债券投资变动 
2006 年 可供出售债券 持有至到期日债券 合计 
年初余额 593,010 607,459 1,200,469 
本年增加 819,924 308,947 1,128,871 
本年出售及赎回 (598,848) (449,771) (1,048,619) 
本年折溢价摊销 4,360 2,918 7,278 
公允价值变动 (2,153) - (2,153) 
外币折算差额 (8,985) (8,413) (17,398) 
年末余额 807,308 461,140 1,268,448 
2005 年 可供出售债券 持有至到期日债券 合计 
年初余额 346,532 457,994 804,526 
本年增加 925,993 515,344 1,441,337 
本年出售及赎回 (661,053) (356,715) (1,017,768) 
本年折溢价摊销 (634) 1,412 778 
公允价值变动 155 - 155 
外币折算差额 (17,983) (10,590) (28,573) 
其他 - 14 14 
年末余额 593,010 607,459 1,200,469 

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会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
40 
五 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12月31日 2005年12月31日 
信用贷款 536,080 475,764 
保证贷款 731,759 684,824 
抵押、质押贷款 1,163,967 1,074,458 
合计 2,431,806 2,235,046 
(2) 贷款行业分布 
2006年12月31日 2005年12月31日 
企事业贷款 
制造业 602,865 531,191 
商业及服务业 301,254 301,863 
能源、采矿及农业 260,706 230,854 
房地产 217,960 190,297 
运输业 211,786 193,428 
公共事业 106,141 91,924 
金融业 72,909 96,245 
建筑业 38,897 36,050 
其他 36,544 40,191 
小计 1,849,062 1,712,043 
消费信贷 
住房贷款 456,930 413,007 
汽车贷款 26,315 28,005 
信用卡贷款及其他 99,499 81,991 
小计 582,744 523,003 
合计 2,431,806 2,235,046 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
41 
五 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12月31日 2005年12月31日 
应计贷款 2,354,814 2,158,232 
非应计贷款 76,992 76,814 
合计 2,431,806 2,235,046 
(4) 截至 2006 年 12 月 31 日止，贷款余额中无在卖出回购合约下抵押给第三方的票据(2005 
年：119.68 亿元)，见注释十一、2。 
7 贷款损失准备 
2006年 2005年 
年初余额 83,153 74,769 
本年计提 (注释五、37) 11,687 10,888 
本年收回 3,589 2,954 
本年核销及处置 (3,684) (4,783) 
外币折算差额 (452) (675) 
年末余额 94,293 83,153 
8 应收利息 
本集团应收利息余额主要包括应收贷款利息和应收债券利息。应收贷款利息的账龄均为 90 
天以内。截至 2006 年 12 月 31 日止，应收债券利息没有逾期现象。 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
42 
五 合并会计报表主要项目注释 (续) 
9 股权投资 
2006年12月31日 2005年12月31日 
投资联营/合营企业 (1) 6,280 5,100 
其他股权投资 (2) 6,279 7,043 
账面原值 12,559 12,143 
减：股权投资减值准备 (1,348) (1,243) 
账面净值 11,211 10,900 
交易性股权投资 (以公允价值计量) (3) 5,194 4,493 
股权投资差额 (注释五、41) 1,875 - 
合计 18,280 15,393 
(1) 投资联营/合营企业 
2006 年 2005年 
年初账面原值 5,100 1,283 
增加投资联营/合营企业 
-投资成本 924 1,183 
-股权投资差额 - 364 
其他股权投资转入 
-投资成本 - 556 
-权益法核算累积影响 - 2,194 
出售及处置联营/合营企业投资 (59) (510) 
应享联营/合营企业税后利润 (注释五、33) 666 175 
收到的股利 (134) (116) 
股权投资差额摊销 (34) (9) 
外币折算差额 (183) (20) 
年末账面原值 6,280 5,100 
减：投资联营/合营企业减值准备 (390) (48) 
年末账面净值 5,890 5,052 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
43 
五 合并会计报表主要项目注释 (续) 
9 股权投资 (续) 
(1) 投资联营/合营企业 (续) 
2005 年 9 月 22 日，本集团与独立第三方签署股权买卖协议，购买华能国际电力开发公司 
（“华能开发”）5%的股权。本集团拥有共计 20%的华能开发股权。因此，本集团对华能开 
发的股权投资由其他股权投资转入投资联营企业并采用权益法核算。改用权益法核算产生的 
本集团应享华能开发以前年度累积净收益 21.94 亿元计入 2005 年期初未分配利润。 
截至 2006 年 12 月 31 日止，本集团的主要联营/合营企业列示如下： 
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、 
贷款与服务 
(2) 其他股权投资 
2006 年 2005 年 
年初账面原值 7,043 8,665 
投资成本增加 1,443 1,640 
其他股权投资转出 - (556) 
出售及处置其他股权投资 (2,207) (2,706) 
年末账面原值 6,279 7,043 
减：其他股权投资减值准备 (958) (1,195) 
年末账面净值 5,321 5,848 
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 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
44 
五 合并会计报表主要项目注释 (续) 
10 固定资产 
房屋及建筑 
物(包括土 
地使用权) 
固定资产 
改良支出 
机器 
设备 
运输 
工具 
飞行 
设备 
合计 
原值 
2006 年 1 月 1 日 80,156 3,845 20,127 2,300 - 106,428 
本年购置 212 359 2,543 341 330 3,785 
收购子公司 - - - - 20,209 20,209 
在建工程转入 1,627 340 240 - - 2,207 
出售/处置 (2,037) (802) (916) (278) - (4,033) 
外币折算差额 (628) (16) (147) (2) 33 (760) 
2006 年 12 月 31 日 79,330 3,726 21,847 2,361 20,572 127,836 
累计折旧 
2006 年 1 月 1 日 (15,014) (2,221) (13,059) (1,660) - (31,954) 
本年计提 (2,160) (563) (2,659) (238) (34) (5,654) 
出售/处置 872 1,071 699 262 - 2,904 
外币折算差额 74 4 91 1 - 170 
2006 年 12 月 31 日 (16,228) (1,709) (14,928) (1,635) (34) (34,534) 
减值准备 
2006 年 1 月 1 日 (1,494) - - (2) - (1,496) 
出售/处置 (19) - - 2 - (17) 
本年回拨 22 - - - - 22 
外币折算差额 (3) - - - - (3) 
2006 年 12 月 31 日 (1,494) - - - - (1,494) 
净值 
2006 年 12 月 31 日 61,608 2,017 6,919 726 20,538 91,808 
2005 年 12 月 31 日 63,648 1,624 7,068 638 - 72,978 
(1) 土地使用权中包含原国家划拨土地使用权。根据国土资函[2004]253 号《关于中国银行重组 
改制土地资产处置的复函》和国土资函[2005]165 号《关于中国银行股份有限公司补办土地 
资产处置手续的复函》，该等国家划拨土地使用权 4,032 宗，按原用途授权本集团经营管理。 
本集团取得上述授权经营土地使用权后，可向其直属企业、控股企业、参股企业以出资(入 
股)或租赁等方式配置土地。如改变用途或向其他单位、个人转让，本集团应报经土地所在地 
的市、县国土资源管理部门审批。如获批准，本集团须补交土地出让金。 
本集团将上述授权经营土地主要用于经营活动。在相关经营期间内，该类土地用途未发生 
重大的改变，本集团也未发生重大的将该类土地向其他单位或个人转让的行为。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
45 
五 合并会计报表主要项目注释 (续) 
10 固定资产(续) 
(2) 根据国家的相关法律规定，本行在股份公司成立后需将原国有商业银行资产之权属更改至股份 
公司名下。截至 2006 年 12 月 31 日止，本行尚未完成上述权属之更名手续，但固定资产权属更 
名手续不会影响本行承继该等资产的权利。 
(3) 截至 2006 年 12 月 31 日止，本集团通过经营租赁租出的固定资产(主要包括飞行设备和部分物 
业)账面净值为 265.24 亿元(2005 年：59.62 亿元)；固定资产中包括融资租入的飞行设备账面净 
值 6.61 亿元。 
(4) 截至 2006 年 12 月 31 日止，本集团将账面净值 192.64 亿元的飞行设备作为长期借款抵押物。 
11 在建工程 
2006年 2005年 
年初账面原值 3,873 3,352 
本年增加 3,771 1,701 
收购子公司 1,692 - 
本年转入固定资产 (2,207) (666) 
本年处置 (143) (514) 
年末账面原值 6,986 3,873 
减：在建工程减值准备 (401) (531) 
年末账面净值 6,585 3,342 
12 其他资产 
2006 年 12 月 31 日 2005年 12 月 31 日 
原值 
坏账准备/ 
减值准备 净值 原值 
坏账准备/ 
减值准备 净值 
应收及暂付款项 (1) 22,552 (4,182) 18,370 14,275 (3,878) 10,397 
抵债资产 (2) 5,705 (3,588) 2,117 6,393 (4,192) 2,201 
信托债转股投资 (3) 212 - 212 2,020 - 2,020 
无形资产 3,438 (77) 3,361 1,870 (109) 1,761 
长期待摊费用 625 - 625 473 - 473 
其他 2,156 - 2,156 1,958 - 1,958 
合计 34,688 (7,847) 26,841 26,989 (8,179) 18,810 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
46 
五 合并会计报表主要项目注释 (续) 
12 其他资产 (续) 
(1) 应收及暂付款项 
2006年12月31日 2005年12月31日 
应收待结算及清算款项 13,128 5,353 
应收政府机构款项 2,031 2,031 
其他 7,393 6,891 
小计 22,552 14,275 
减：坏账准备 (4,182) (3,878) 
净值 18,370 10,397 
应收及暂付款项的账龄分析列示如下： 
2006 年 12 月 31 日 2005 年 12 月 31 日 
账龄 金额 坏账准备 金额 坏账准备 
1 年以内 17,505 (364) 9,476 (664) 
1-3 年 962 (765) 1,222 (338) 
3 年以上 4,085 (3,053) 3,577 (2,876) 
合计 22,552 (4,182) 14,275 (3,878) 
(2) 抵债资产 
2006年12月31日 2005年12月31日 
房屋及建筑物 3,975 4,578 
其他 1,730 1,815 
小计 5,705 6,393 
减：抵债资产减值准备 (3,588) (4,192) 
净值 2,117 2,201 
(3) 本行于 2006 年将部分债转股投资以商业定价原则转让给独立第三方，由此产生的收益 13.09 
亿元计入当期其他业务收入。见注释五、34。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
47 
五 合并会计报表主要项目注释 (续) 
13 对中央银行负债 
2006 年 12 月 31 日 2005年12月31日 
国家外汇存款 41,956 28,873 
借入中央银行款项 25 520 
对中央银行其他负债 393 662 
合计 42,374 30,055 
14 存出发钞基金和发行货币债务 
存出发钞基金是指中国银行(香港)有限公司和中国银行澳门分行分别作为香港和澳门特别行 
政区的发钞行，按照特区政府有关货币发行制度的规定，向特区政府存出的发钞基金。 
发行货币债务指中国银行(香港)有限公司和中国银行澳门分行分别在香港和澳门特别行政区 
发行的在市场上流通的港元钞票和澳门元钞票所形成的负债。 
15 衍生金融产品及公允价值变动计入损益的负债 
2006年12月31日 2005年12月31日 
衍生金融产品负债 (注释五、3) 14,323 15,752 
公允价值变动计入损益的负债 
结构性存款 86,474 70,069 
外币债券卖空 8,690 3,740 
外汇基金票据卖空 3,561 1,613 
小计 98,725 75,422 
合计 113,048 91,174 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
48 
五 合并会计报表主要项目注释 (续) 
16 同业存入及拆入 
2006年12月31日 2005年12月31日 
同业存入 
境内同业存入 157,005 116,624 
境外同业存入 21,772 20,296 
小计 178,777 136,920 
同业拆入 
境内同业拆入 89,110 157,225 
境外同业拆入 53,494 51,088 
小计 142,604 208,313 
合计 321,381 345,233 
同业拆入中所含的卖出回购款项分类列示如下： 
2006年12月31日 2005年12月31日 
卖出回购贴现票据 - 11,930 
卖出回购债券 51,245 46,393 
卖出回购贵金属 - 2,172 
合计 51,245 60,495 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
49 
五 合并会计报表主要项目注释 (续) 
17 客户存款 
2006年12月31日 2005年12月31日 
短期对公存款 
活期对公存款 979,653 836,763 
一年期及以下定期对公存款 514,564 486,681 
小计 1,494,217 1,323,444 
短期储蓄存款 
活期储蓄存款 770,583 667,957 
一年期及以下定期储蓄存款 1,302,266 1,243,964 
小计 2,072,849 1,911,921 
长期对公存款 36,496 26,317 
长期储蓄存款 346,010 313,703 
存入保证金 145,850 128,392 
合计 4,095,422 3,703,777 
其中，存入保证金具体列示如下： 
承兑汇票保证金 74,130 63,556 
开出信用证及保函保证金 29,991 26,785 
外汇买卖交易保证金 10,076 8,638 
其他 31,653 29,413 
合计 145,850 128,392 
18 借入其他资金 
2006年12月31日 2005年12月31日 
借入专项资金 (1) 46,006 52,164 
长期借款及其他借款 (2) 17,392 - 
合计 63,398 52,164
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
50 
五 合并会计报表主要项目注释 (续) 
18 借入其他资金 (续) 
(1) 借入专项资金 
2006年12月31日 2005年12月31日 
借入买方信贷 13,955 17,147 
借入外国政府贷款 17,577 18,414 
借入混合贷款及其他 14,474 16,603 
合计 46,006 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 12 月 31 日止，借入专项资金的剩余期限区间为 1 个月以内到 36 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。 
(2) 本集团全资子公司新加坡飞机租赁有限责任公司借入长期借款及其他资金用于从事飞行设备 
经营租赁业务。 
长期借款及其他借款的剩余期限区间为 5 个月以内到 12 年，浮动利率及固定利率范围为 
5.55%至 7.56%。截至 2006 年 12 月 31 日止，162 亿元的长期借款及其他借款以本集团拥 
有的飞机作为抵押品，参见注释五、10。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
51 
五 合并会计报表主要项目注释 (续) 
19 发行债券 
发行日 到期日 利率 2006 年 2005 年 
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% 173 
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 60,173 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。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
52 
五 合并会计报表主要项目注释 (续) 
19 发行债券 (续) 
(2) 根据《中国人民银行关于中国银行发行次级债券的批复》(银复[2004]35 号)和《中国银行业 
监督管理委员会关于中国银行发行次级债的批复》(银监复[2004]81 号)，本行发行了下列次 
级债券: 
2004 年中国银行人民币债券第一期，为十年期固定利率且发行人可赎回债券，其票面利率为 
4.87%，每年付息一次。本行有权选择在 2009 年 7 月 20 日按本期债券的面值提前赎回全部 
或部分债券。如本行不行使赎回条款，则本期债券后五年的票面年利率为原有票面利率加 
2.8%，在债券存续期内固定不变。 
2004 年中国银行人民币债券第二期，为十年期固定利率、投资者可转换且发行人可赎回债 
券，其票面利率为 4.94%，每年付息一次。投资者有权选择于 2005 年 11 月 16 日或 2006 年 
11 月 16 日按本期债券的面值全部或部分转换为等额浮动利率债券。截至 2006 年 11 月 16 日 
止，没有投资者选择行使该转换权利。此外，本行有权选择在 2009 年 11 月 16 日按本期债 
券的面值提前赎回全部或部分债券。如本行不行使赎回条款，则本期债券后五年的票面年利 
率为原有票面利率加 3%，在债券存续期内固定不变。 
2005 年中国银行人民币债券第一期，为十年期固定利率且发行人可赎回债券，其票面利率为 
4.83%，每年付息一次。本行在 2010 年 3 月 4 日有权选择按本期债券的面值提前赎回全部或 
部分债券。如本行不行使赎回条款，则本期债券后五年的票面年利率为原有票面利率加 3%， 
在债券存续期内固定不变。 
2005 年中国银行人民币债券第二期固定利率部分，为十五年期发行人可赎回债券，其票面利 
率为 5.18%，每年付息一次。本行在 2015 年 3 月 4 日有权选择按本期债券的面值提前赎回 
全部或部分债券, 如本行不行使赎回条款，则本期债券后五年的票面年利率为原有票面利率加 
3%，在债券存续期内固定不变。 
2005 年中国银行人民币债券第二期浮动利率部分，为十年期浮动利率且发行人可赎回债券， 
按半年浮动，半年付息。该债券的浮动利率以 7 天回购加权利率的指数加权平均值为基础计 
算。本行在 2010 年 3 月 4 日有权选择按本期债券的面值提前赎回全部或部分债券，如本行 
不行使赎回条款，其后五年的浮动利率在原有浮动利率基础上加 1%确定。 
上述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 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
53 
五 合并会计报表主要项目注释 (续) 
20 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 2005年 
年初余额 17,377 18,647 
计入当期利润表的递延所得税 (注释五、38) (93) (1,252) 
收购子公司 (786) - 
外币折算差额 3 (18) 
年末余额 16,501 17,377 
当本集团依法有权抵消所得税资产和负债，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消后净额在资产负债表内列示。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12月31日 2005年12月31日 
递延税款借项 17,605 17,561 
递延税款贷项 (1,104) (184) 
16,501 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12月31日 2005年12月31日 
递延税款借项 
资产减值准备 20,205 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 2,653 3,046 
其他时间性差异 1,077 696 
小计 23,935 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 (5,124) (3,643) 
固定资产折旧 (1,670) (424) 
其他时间性差异 (640) (42) 
小计 (7,434) (4,109) 
净额 16,501 17,377
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
54 
五 合并会计报表主要项目注释 (续) 
20 递延税项 (续) 
计入当期利润表的递延所得税由以下时间性差异组成： 
2006年12月31日 2005年12月31日 
资产减值准备 2,461 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收益 (1,874) (2,338) 
其他时间性差异 (680) (381) 
合计 (注释五、38) (93) (1,252) 
21 其他负债 
2006年12月31日 2005年12月31日 
应付待结算及清算款项 65,510 52,957 
应付税金 18,149 23,458 
应付工资及福利费 9,052 6,031 
养老金设定受益计划负债 (1) 2,129 1,956 
应付财政部款项 (2) 8,680 17,362 
其他应付及暂收款项 (3) 36,382 32,901 
合计 139,902 134,665 
(1) 养老金设定受益计划负债变动 
2006年 2005年 
年初余额 1,956 1,804 
在利润表中确认的金额(注释五、35) 318 294 
已支付的福利 (145) (142) 
年末余额 2,129 1,956 
(2) 根据《财政部关于中国银行 2003 年结余国有权益处理和 2004 年利润分配有关问题的通知》 
(财金函[2005]164 号)，该等应付款项应在 2008 年 12 月 31 日前缴清。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
55 
五 合并会计报表主要项目注释 (续) 
21 其他负债 (续) 
(3) 其他应付及暂收款项包括本集团经营保险业务子公司下列与保险合同相关的债务余额。 
2006年12月31日 2005年12月31日 
长期保险合同 14,625 8,383 
一般保险合同 2,200 2,079 
保险总负债，净值 16,825 10,462 
其他应付及暂收款中还包括诉讼损失准备，其变动如下： 
2006年12月31日 2005年12月31日 
年初余额 1,516 1,310 
本年计提 897 712 
本年动用 (428) (506) 
年末余额 1,985 1,516 
22 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 12 月 31 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 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
56 
五 合并会计报表主要项目注释 (续) 
22 股票增值权计划及认股权计划 (续) 
(2) 中银香港(控股)有限公司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 12 月 31 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) 中银香港(控股)有限公司上市前认股权计划 
根据中银香港(控股)有限公司上市前认股权计划，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。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：当年行使的认股权 - (4,278,700) - (4,278,700) 
减：年内作废的认股权 - (43,500) - (43,500) 
2006年12月31日 6,381,500 6,058,050 1,446,000 13,885,550 
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 2006 年和 2005 年行使的认股权，中银香港(控股)有限公司的股份加权平均价格为港币 
16.50 元和港币 15.01 元。 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
57 
五 合并会计报表主要项目注释 (续) 
23 少数股东权益 
2006年 2005年 
年初余额 28,778 27,387 
少数股东应享本年利润 5,260 5,105 
少数股东增持子公司股权 33 17 
向少数股东支付股利 (3,391) (2,954) 
可供出售债券公允价值变动 39 (110) 
外币折算差额及其他 (1,159) (667) 
年末余额 29,560 28,778 
24 股本 
股本金额 
2006 年 2005 年 
年初余额 209,427 186,390 
发行普通股 (1) 44,412 23,037 
年末余额 (3) 253,839 209,427 
股份数目 
2006 年 2005 年 
年初余额 209,427,362,357 186,390,352,497 
发行普通股 (1) 44,411,799,652 23,037,009,860 
年末余额 (3) 253,839,162,009 209,427,362,357 
其中： 
2006年 
境内上市 (a 股) (2) 177,818,910,740 
境外上市 (h 股) (2) 76,020,251,269 
合计 (3) 253,839,162,009 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
58 
五 合并会计报表主要项目注释 (续) 
24 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，附带相同权力及利益。 
(3) 本集团海外子公司在香港经营股票期权产品组合及套期业务。因此，该海外子公司持有本行发 
行的 h 股作为其组合资产。该等股份作为库藏股视为股东权益的减项。因库藏股的出售或赎 
回产生的收益和损失将增加或抵减股东权益。截至 2006 年 12 月 31 日止，库藏股总数约为 
5,000 万股(2005 年：无)。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
59 
五 合并会计报表主要项目注释 (续) 
25 资本公积 
2006 年 
中国银行集团 中国银行 
年初余额 3,978 3,978 
发行普通股溢价 (1) 72,567 72,219 
其他 (2) 4 (308) 
年末余额 76,549 75,889 
2005 年 
中国银行集团 
及中国银行 
年初余额 - 
发行普通股溢价 3,964 
其他 14 
年末余额 3,978 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
60 
五 合并会计报表主要项目注释 (续) 
25 资本公积 (续) 
(1) 如注释五、24 (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： 
中国银行集团 中国银行 
2006 年 
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。 
(2) 本行子公司中银香港(控股)有限公司(本行持有 65.87%股权)于 2006 年 6 月向本行直接控股子 
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，购买价格为港元 9 亿元，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。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
61 
五 合并会计报表主要项目注释 (续) 
26 盈余公积 
2006 年 法定盈余公积 法定公益金 盈余公积合计 
年初余额 4,940 1,047 5,987 
法定公益金重分类 1,047 (1,047) - 
本年提取 (注释五、28) 4,393 - 4,393 
年末余额 10,380 - 10,380 
2005年 法定盈余公积 法定公益金 盈余公积合计 
年初余额 2,093 1,047 3,140 
本年提取 (注释五、28) 2,847 - 2,847 
年末余额 4,940 1,047 5,987 
根据国家的相关法律规定，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%。 
根据《中华人民共和国公司法》的有关规定、本行章程及董事会决议，本行从2006年起不再 
计提法定公益金。根据财政部《关于<公司法>施行后有关企业财务处理问题的通知》(财企 
[2006]67号)，本行截至2005年12月31日止的法定公益金贷方结余，转作盈余公积金管理使 
用。 
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。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
62 
五 合并会计报表主要项目注释 (续) 
27 一般准备及法定储备金 
2006年 一般准备 法定储备金 合计 
年初余额 2,603 2,506 5,109 
本年提取 (注释五、28) 8,764 64 8,828 
其他 - (3) (3) 
年末余额 11,367 2,567 13,934 
2005年 一般准备 法定储备金 合计 
年初余额 419 - 419 
本年提取 (注释五、28) 2,184 2,506 4,690 
年末余额 2,603 2,506 5,109 
本行根据财政部《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潜在可能损失。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，计划自2005年起在三年内提足该办法要求的一般准 
备。2006年，本行提取一般准备金87.64亿元(2005年：21.84亿元)。截至2006年12月31日， 
一般准备金约占风险资产期末余额的0.4%。 
法定储备金主要是指本行子公司中银香港(集团)有限公司提取的用作防范银行一般风险的准备 
(包括未来损失或其他不可预期风险)。截至2006年12月31日止，中银香港(集团)有限公司一般 
风险准备余额为25.33亿元(2005年：24.75亿元)。 
28 未分配利润 
2006 年 2005年 
年初余额 12,585 17,373 
联营企业权益法核算累积影响 (注释五、9) - 2,194 
本年净利润 41,892 27,492 
提取盈余公积 (注释五、26) (1) (4,393) (2,847) 
提取一般准备及法定储备金 (注释五、27) (2) (8,828) (4,690) 
分派股利(3) (1,375) (26,937) 
其他 3 - 
年末余额 39,884 12,585 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
63 
五 合并会计报表主要项目注释 (续) 
28 未分配利润 (续) 
(1) 根据 2007 年 3 月 22 日董事会决议，本行按照 2006 年净利润的 10%提取法定盈余公积，计 
42.49 亿元。 
(2) 提取一般准备及法定储备金 
根据 2007 年 3 月 22 日董事会决议，本行 2006 年提取一般准备金 87.64 亿元。 
本行子公司中银香港(集团)有限公司按照香港金融管理局的要求，在提取贷款损失准备的基础 
上，将未分配利润共计 0.58 亿元划拨至法定储备金，用作防范银行一般风险之用(包括未来 
损失或其他不可预期风险)。 
(3) 分派股利 
根据 2005 年 9 月 7 日召开的第二次临时股东大会审议批准的 2004 年度利润分配方案，本行 
向股东派发现金股利 142.00 亿元。 
根据 2005 年 12 月 31 日召开的第七次临时股东大会决议通过的 2005 年上半年利润分配方 
案，本行向股东派发现金股利 127.37 亿元。 
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。 
本行董事会建议在 2007 年 6 月 14 日召开的年度股东大会审议批准 2006 年每股股息人民币 
0.04 元，总计 101.54 亿元。本财务报表并未反映该应付股利，而是将其作为股利分配在 
2007 年度的股东权益变动中反映。 
29 可供出售债券公允价值变动储备 
2006年 2005年 
年初余额 (1,380) (2,315) 
公允价值重估变动 (2,178) 173 
因债券出售将储备转入利润表 1,119 762 
年末余额 (2,439) (1,380) 
2006年，由于人民币和美元利率变化，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 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
64 
五 合并会计报表主要项目注释 (续) 
30 净利息收入 
2006年 2005年 
利息收入 
贷款利息收入 128,270 109,711 
债券投资利息收入 67,195 44,938 
存放及拆放同业利息收入 13,892 8,426 
存放中央银行利息收入 5,313 4,270 
小计 214,670 167,345 
利息支出 
客户存款利息支出 (79,939) (55,914) 
同业存入及拆入和对中央银行负债利息支出 (9,393) (6,512) 
借入其他资金和发行债券利息支出 (4,631) (4,514) 
小计 (93,963) (66,940) 
净利息收入 120,707 100,405 
31 手续费及佣金收支净额 
2006年 2005年 
代理业务收入 4,621 2,735 
结算与清算业务收入 3,848 2,941 
信用承诺手续费及佣金收入 3,064 2,693 
银行卡业务收入 2,937 2,340 
受托业务收入 531 483 
其他 2,138 1,506 
手续费及佣金收入 17,139 12,698 
手续费及佣金支出 (2,816) (3,451) 
手续费及佣金收支净额 14,323 9,247 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
65 
五 合并会计报表主要项目注释 (续) 
32 净交易(损失)/收入 
2006年 2005年 
汇兑及汇率产品净(损失)/收益(1) (2,204) 2,518 
利率产品净收益 492 1,954 
权益性衍生金融产品净(损失)/收益及其他(2) (2,067) 10 
合计 (3,779) 4,482 
(1) 本集团外汇敞口及资产负债币种分析见注释九。 
本集团汇兑及汇率产品净(损失)/收益包括与本集团外汇业务相关的汇差收入、外汇衍生金融产 
品产生的已实现和未实现收益/损失和外币货币性资产和负债折算产生的差额。 
关于外币货币性资产和负债产生的外汇折算差额，本集团当期确认外汇折算损失约人民币142 
亿元(2005：人民币85亿元)。这些外汇折算损失是由本集团表内美元外汇敞口的增加和2006 
年人民币对美元的持续升值造成的。本集团通过叙做美元/人民币货币掉期交易的公允价值变 
动人民币22亿元(2005：人民币0.10亿元)、与汇金叙做的180亿美元外汇期权交易的公允价值 
变动人民币19亿元(2005：人民币32亿元)及其他外汇产品产生的收益人民币3亿元(2005：人 
民币6亿元) 部分抵销了上述外汇折算损失(见注释九)。上述美元/人民币掉期交易的公允价值 
变动净值中包括了本行承担的掉期筹资成本，而本行因持有较高收益率的美元金融资产所获 
取的相关利息则反映在利息收入中。 
(2) 本集团子公司中银国际控股有限公司进行股票买卖交易，其叙做权益性衍生金融产品的目的 
是为了对其交易性股权投资进行经济套期保值。中银国际控股有限公司买卖股票交易及交易 
性股权投资公允价值变动净收益反映在投资收益/其他投资收益中(见注释五、33)。 
33 投资收益/(损失) 
2006年 2005年 
股权投资收益 
投资联营/合营企业净收益 (注释五、9) 632 166 
其他投资净收益 3,827 512 
小计 4,459 678 
债券投资损失 (628) (926) 
合计 3,831 (248) 
其他投资净收益主要包括：(1) 中银国际控股有限公司买卖股票及交易性股权投资公允价值变 
动净收益22.76亿元(2005年：1.30亿元)；及(2) 出售子公司及处置其他股权投资净收益12.69 
亿元(2005年：1.41亿元)。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
66 
五 合并会计报表主要项目注释 (续) 
34 其他业务收支净额 
2006年 2005年 
其他业务收入 
保险业务收入 7,708 5,237 
其他 (1) 2,623 1,380 
小计 10,331 6,617 
其他业务支出 
保险理赔费用 (7,484) (3,861) 
其他 (301) (614) 
小计 (7,785) (4,475) 
其他业务收支净额 2,546 2,142 
(1) 2006年度其他业务收入主要包括：(i) 处置债转股投资净收益13.09亿元(见注释五、12)；及 
(ii)向独立第三方处置部分贷款获得的净收益6.60亿元。 
35 业务及管理费 
2006 年 2005年 
员工费用 30,677 23,979 
业务费用 17,283 15,742 
折旧 5,654 5,883 
合计 53,614 45,604 
员工费用具体列示如下： 
2006年 2005年 
工资薪金及福利费 24,147 18,533 
养老金设定提存计划 3,079 2,253 
住房公积金 1,224 1,000 
员工其他社会保险支出 993 464 
养老金设定受益计划 (注释五、21) 318 294 
其他 916 1,435 
合计 30,677 23,979
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
67 
五 合并会计报表主要项目注释 (续) 
35 业务及管理费 (续) 
2006年，本集团进一步落实经国务院批准的股份制改革实施总体方案，包括制定和落实全面 
的员工薪酬改革方案和建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年度向该年金计划支付9.55亿元(2005年度：7.38亿元)。 
在2006年度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 
3,390万元(2005年度：2,700万元)。 
36 营业税金及附加 
2006年 2005年 
营业税金 5,811 5,104 
城市维护建设税 381 335 
教育费附加 209 178 
其他 61 63 
合计 6,462 5,680 
37 资产减值损失 
2006年 2005年 
贷款减值损失 (注释五、7) 11,687 10,888 
抵债资产减值损失 85 133 
其他应收款坏账(转回)/损失 (211) 498 
固定资产及其他资产减值损失/(转回) 26 (534) 
合计 11,587 10,985
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
68 
五 合并会计报表主要项目注释 (续) 
38 所得税 
2006 年 2005年 
当期所得税 
中国内地所得税 16,477 18,536 
港澳及其他境外地区所得税 3,287 2,755 
19,764 21,291 
递延所得税(注释五、20) 93 1,252 
合计 19,857 22,543 
中国内地所得税包括境外机构所得在境内补缴的所得税差额。 
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 2005年 
税前利润 67,009 55,140 
按税前利润乘以 33%计算之所得税 22,113 18,196 
其他国家和地区采用不同税率所产生的影响 (3,796) (3,445) 
境外机构所得在境内补交所得税 2,510 1,388 
免税收入 (1) (2,352) (1,803) 
不可税前抵扣的费用 (2) 1,137 4,789 
调整以前年度所得税费用 (3) (300) 2,376 
其他 (4) 545 1,042 
合计 19,857 22,543 
(1) 免税收入主要包括国债利息收入。 
(2) 不可税前抵扣的费用主要为超过税法抵扣限额的工资成本等。 
根据财政部和国家税务总局《关于核定中国银行股份有限公司计税工资税前扣除标准有关问 
题的通知》（财税[2007]40号），本行2006年度经核定的境内员工工资费用所得税税前扣除总 
额为人民币156.69亿元。因经核定的税前扣除总额大于原税法抵扣限额，本行相关所得税费 
用减少46.26亿元。 
(3) 2005年度调整金额主要包括境内机构因在2004年度所得税汇算清缴中，部分贷款减值准备 
回拨抵扣未获批准导致的相关所得税费用调整人民币19.21亿元。 
(4) 其他税务调节事项主要为本行出售部分不良贷款，与该等贷款损失准备相关的递延税资产于 
当期转销。 
中国银行股份有限公司 
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五 合并会计报表主要项目注释(续) 
39 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 2005年 
归属于本行股东的当期净利润 41,892 27,492 
当期发行在外的普通股股数的加权平均 
数(百万股) 236,055 186,425 
每股基本净收益和稀释后每股净收益 
(人民币元/股) 0.18 0.15 
40 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12月31日 2005年12月31日 
现金 31,110 28,644 
存放中央银行 (注释五、1) 101,776 108,149 
存放及拆放同业 (注释五、4) 313,313 244,744 
短期票据 (注释五、5) 73,745 15,575 
合计 519,944 397,112 
将净利润调节为经营活动产生的现金流量净额： 
2006年 2005年 
净利润 41,892 27,492 
加/(减): 
少数股东应享本年利润 5,260 5,105 
计提资产减值损失准备 11,587 10,985 
固定资产折旧 5,654 5,883 
无形资产及长期待摊费用摊销 808 912 
处置固定资产和其他资产净收益 (2,026) (1,028) 
股权投资收益 (4,459) (678) 
发行债券利息支出 2,840 2,611 
经营性应收项目的增加 (459,308) (444,982) 
经营性应付项目的增加 425,660 407,583 
经营活动产生的现金流量净额 27,908 13,883 

中国银行股份有限公司 
会计报表注释 
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(除特别注明外，金额单位为人民币百万元) 
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五 合并会计报表主要项目注释(续) 
41 购买子公司 
本集团全资子公司中银集团投资有限公司于 2006 年 12 月 15 日以现金方式支付 9.78 亿美元 
(折人民币 76.27 亿元)收购飞机租赁公司 100%的股权。本次收购生效日按合同生效日确定为 
2006 年 12 月 15 日。于收购生效日，飞机租赁公司资产、负债及与收购相关的现金流情况 
列示如下。 
公允价值 账面价值 
现金及银行存款 2,254 2,254 
固定资产 20,209 20,001 
在建工程 1,692 1,692 
无形资产 1,856 - 
其他资产 428 428 
递延税款贷项 (777) (260) 
其他负债 (19,910) (19,910) 
净资产 5,752 4,205 
收购溢价/股权投资差额 (注释五、9) 1,875 
收购对价 7,627 
减：收购产生的现金流入 (2,254) 
现金净流出 5,373 
收购溢价/股权投资差额反映了所收购业务的较高利润回报及因收购带来的集团协同效应。所 
收购的飞机租赁公司的资产、负债的公允价值以贴现现金流模型为估值基础。 
从收购生效日 2006 年 12 月 15 日至 2006 年 12 月 31 日期间，飞机租赁公司的主营业务收 
入对本集团的经营成果影响不重大。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
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六 母公司会计报表主要项目补充说明 
1 债券投资 
2006年12月31日 2005年12月31日 
可供出售债券(以公允价值列示) 
政府债券 283,860 219,566 
公共实体及准政府债券 145,929 102,200 
金融机构债券 195,235 146,373 
公司债券 81,002 70,798 
小计 706,026 538,937 
持有至到期日债券(以摊余成本列示) 
政府债券 144,292 227,718 
公共实体及准政府债券 75,749 103,074 
金融机构债券 62,702 74,791 
公司债券 4,655 9,560 
小计 287,398 415,143 
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 
－定项票据 28,702 - 
财政部特种国债 42,500 42,500 
长期债券 
－金融机构债券 14,545 1,545 
短期票据 
－公共实体及准政府债券 3,895 5,992 
－金融机构债券 98,006 32,156 
－公司债券 6,546 - 
凭证式国债及其他 12,952 10,343 
458,758 344,066 
分类为贷款及应收款的债券减值准备 (152) (156) 
小计 458,606 343,910 
合计 1,452,030 1,297,990 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
72 
六 母公司会计报表主要项目补充说明(续) 
1 债券投资(续) 
债券投资变动列示如下： 
可供出售债券 持有至到期日债券 合计 
2006 年 1 月 1 日余额 538,937 415,143 954,080 
本年增加 710,389 248,276 958,665 
本年出售及赎回 (536,733) (375,327) (912,060) 
本年摊销 3,975 3,009 6,984 
公允价值变动 (2,244) - (2,244) 
外币折算差额 (8,298) (3,703) (12,001) 
2006 年 12 月 31 日余额 706,026 287,398 993,424 
可供出售债券 持有至到期日债券 合计 
2005 年 1 月 1 日余额 346,403 252,254 598,657 
本年增加 847,817 432,940 1,280,757 
本年出售及赎回 (638,230) (267,575) (905,805) 
本年摊销 (496) 2,061 1,565 
公允价值变动 394 - 394 
外币折算差额 (16,951) (4,537) (21,488) 
2005 年 12 月 31 日余额 538,937 415,143 954,080 
2 贷款 
2006年12月31日 2005年12月31日 
信用贷款 469,084 401,756 
保证贷款 652,766 617,332 
抵押、质押贷款 942,764 849,017 
合计 2,064,614 1,868,105 

中国银行股份有限公司 
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2006年度 
(除特别注明外，金额单位为人民币百万元) 
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六 母公司会计报表主要项目补充说明(续) 
3 股权投资 
2006年12月31日 2005年12月31日 
投资子公司 70,220 66,294 
投资联营/合营企业 36 63 
其他股权投资 786 796 
账面原值 71,042 67,153 
减：股权投资减值准备 (73) (202) 
账面净值 70,969 66,951 
投资子公司变动情况列示如下： 
2006 年 2005 年 
年初账面净值 66,294 60,887 
投资成本增加 435 484 
应享子公司税后利润 12,884 10,895 
收到的股利 (7,146) (6,010) 
外币折算差额及其他 (2,247) 38 
年末账面净值 70,220 66,294 

中国银行股份有限公司 
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2006年度 
(除特别注明外，金额单位为人民币百万元) 
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六 母公司会计报表主要项目补充说明(续) 
4 客户存款 
2006年12月31日 2005年12月31日 
短期对公存款 
活期对公存款 883,939 747,059 
一年期及以下定期对公存款 400,420 380,105 
小计 1,284,359 1,127,164 
短期储蓄存款 
活期储蓄存款 565,893 492,876 
一年期及以下定期储蓄存款 993,671 937,430 
小计 1,559,564 1,430,306 
长期对公存款 35,809 24,395 
长期储蓄存款 341,323 305,239 
存入保证金 138,815 122,083 
合计 3,359,870 3,009,187 
其中，存入保证金具体列示如下： 
承兑汇票保证金 74,097 63,522 
开出信用证及保函保证金 29,790 26,469 
外汇买卖交易保证金 4,520 3,718 
其他 30,408 28,374 
合计 138,815 122,083 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
75 
六 母公司会计报表主要项目补充说明(续) 
5 净利息收入 
2006年 2005年 
利息收入 
贷款利息收入 107,267 94,464 
债券投资利息收入 52,483 34,994 
存放及拆放同业利息收入 8,517 5,136 
存放中央银行利息收入 4,730 4,145 
小计 172,997 138,739 
利息支出 
客户存款利息支出 (55,546) (42,384) 
同业存入及拆入和对中央银行负债 
利息支出 (9,242) (6,602) 
借入其他资金和发行债券利息支出 (4,631) (4,514) 
小计 (69,419) (53,500) 
净利息收入 103,578 85,239 
6 手续费及佣金收支净额 
2006年 2005年 
代理业务收入 1,609 964 
结算与清算业务收入 2,865 2,247 
信用承诺手续费及佣金收入 2,478 2,030 
银行卡业务收入 2,080 1,540 
受托业务收入 260 227 
其他 1,495 1,063 
手续费及佣金收入 10,787 8,071 
手续费及佣金支出 (1,027) (1,851) 
手续费及佣金收支净额 9,760 6,220 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
76 
六 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 2005年 
汇兑及汇率产品净(损失)/收益 (4,004) 758 
利率产品净收益 212 1,884 
合计 (3,792) 2,642 
8 投资收益 
2006年 2005年 
股权投资收益 
投资子公司净收益 13,442 10,895 
投资联营/合营企业净收益 9 37 
其他股权投资净收益 63 48 
小计 13,514 10,980 
债券投资损失 (615) (813) 
合计 12,899 10,167 
9 业务及管理费 
2006年 2005年 
员工费用 24,983 19,607 
业务费用 15,144 13,851 
折旧 4,796 5,060 
合计 44,923 38,518 
员工费用具体列示如下： 
2006年 2005年 
工资薪金及福利费 18,882 14,673 
养老金设定提存计划 2,743 2,211 
住房公积金 1,224 1,000 
员工其他社会保险支出 983 419 
养老金设定受益计划 318 294 
其他 833 1,010 
合计 24,983 19,607 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
77 
六 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 2005年 
贷款减值损失 13,870 13,770 
抵债资产减值损失 85 131 
其他应收款坏账(转回) /损失 (119) 497 
固定资产及其他资产减值转回 (24) (148) 
合计 13,812 14,250 
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12月31日 2005年12月31日 
现金 27,632 25,144 
存放中央银行 77,810 82,936 
存放及拆放同业 220,741 154,349 
短期票据 70,859 13,194 
合计 397,042 275,623 
将净利润调节为经营活动产生的现金流量净额： 
2006年 2005年 
净利润 42,497 27,492 
加/(减): 
计提资产减值损失准备 13,812 14,250 
固定资产折旧 4,796 5,060 
无形资产及长期待摊费用摊销 808 912 
处置固定资产和其他资产净收益 (1,770) (534) 
股权投资收益 (13,514) (10,980) 
发行债券利息支出 2,840 2,611 
经营性应收项目的增加 (371,606) (456,554) 
经营性应付项目的增加 329,392 391,789 
经营活动产生的现金流量净额 7,255 (25,954) 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
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七 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。中国政府通过汇金持 
有本行股权并对本集团实行控制。 
1 与汇金之间的交易 
(1) 外币期权合同 
本行于 2005 年 1 月 5 日与汇金签署了一份外币期权合同以减少资产负债表内外汇敞口净 
额。截至 2006 年 12 月 31 日及 2005 年 12 月 31 日止，该外币期权合同的名义本金为 180 
亿美元。见注释五、3 及注释十二。 
(2) 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，本行于 2006 年 5 月 15 日向汇金派发现金股利 13.75 亿元。 
(3) 根据 2005 年第七次临时股东大会会议决议，汇金同意从其收到的 2004 年股息中提取人民币 
5 亿元作为本行年金计划的启动资金。 
(4) 存款 
2006 年 2005 年 
年初余额 38,869 - 
当年吸收的存款 288,128 42,972 
当年归还的存款及其他变动 (304,937) (4,103) 
年末余额 22,060 38,869 
吸收汇金存款按照正常的商业条款和市场价格进行。 
2 与汇金下属公司之间的交易 
汇金同时拥有其他金融机构的股份控制权。本行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，包括债券资产买卖和货币市场交易等。 
2006 和 2005 年度的该等交易金额和利率范围以及相应期间年末与该等公司的余额列示如 
下： 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
79 
七 关联交易(续) 
(i) 交易性资产及证券投资 
2006年 2005年 
本年购买 1,207 1,499 
本年赎回/出售 1,804 1,218 
2006年 2005年 
年初余额 2,400 2,183 
年末余额 1,762 2,400 
(ii) 存放同业 
2006年 2005年 
年初余额 88 94 
年末余额 121 88 
(iii) 拆放同业 
2006年 2005年 
年初余额 2,318 3,537 
年末余额 1,662 2,318 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
80 
七 关联交易(续) 
(iv) 同业存入 
2006年 2005年 
年初余额 2,076 1,895 
年末余额 1,971 2,076 
(v) 同业拆入 
2006年 2005年 
年初余额 243 - 
年末余额 106 243 
3 与持有本行 5%以上（含 5%）股份股东之间的交易 
除汇金外，于 2006 年 12 月 31 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 年度无重大交易，截至 2006 年 12 月 31 日 
止无重大余额。 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
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七 关联交易(续) 
4 与联营/合营企业之间的交易 
本集团在正常的经营活动中与联营/合营企业(见注释五、9(1)，投资联营/合营企业)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。关联交易的业务金额和年末余额列示如下，相关的利息收入及支出并不重大。 
(1) 贷款 
2006年 2005年 
年初余额 7,240 1,246 
当期发放的贷款 381 8,128 
当期归还的贷款 (6,616) (989) 
当期核销的贷款及其他变动 (191) (1,145) 
年末余额 814 7,240 
贷款减值准备 (18) (119) 
(2) 存款 
2006年 2005年 
年初余额 856 1,227 
当期吸收的存款 6,498 3,879 
当期支取的存款及其他变动 (4,065) (4,250) 
年末余额 3,289 856 
(3) 债券资产 
2006年 2005年 
年初余额 188 - 
本年购入 - 1,307 
本年处置 (188) (1,123) 
本年公允价值变动及其他 - 4 
年末余额 - 188
中国银行股份有限公司 
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2006年度 
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八 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)。中银香港控股及其间接控股公司(统称为中银香港集团)占本集团在海外经 
营业务的大部分。 
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。 
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 
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2006年度 
(除特别注明外，金额单位为人民币百万元) 
83 
八 分部报告(续) 
截至2006年12月31日止 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 166,485 40,936 4,870 45,806 7,563 (5,184) 214,670 
利息支出 (65,575) (24,668) (3,158) (27,826) (5,750) 5,188 (93,963) 
净利息收入 100,910 16,268 1,712 17,980 1,813 4 120,707 
手续费及佣金收支净额 8,629 3,587 1,782 5,369 829 (504) 14,323 
净交易(损失)/收入 (3,773) 1,835 (1,819) 16 (22) - (3,779) 
投资(损失)/收益 (601) 24 4,340 4,364 27 41 3,831 
其他业务收支净额 1,960 (473) 1,207 734 (7) (141) 2,546 
107,125 21,241 7,222 28,463 2,640 (600) 137,628 
业务及管理费 (43,139) (6,480) (2,590) (9,070) (1,465) 60 (53,614) 
营业税金及附加 (6,367) (44) (19) (63) (32) - (6,462) 
营业利润 57,619 14,717 4,613 19,330 1,143 (540) 77,552 
营业外收支净额 (24) 348 611 959 109 - 1,044 
扣除资产减值损失前利润总额 57,595 15,065 5,224 20,289 1,252 (540) 78,596 
资产减值(损失)/回拨 (14,923) 1,933 1,173 3,106 230 - (11,587) 
税前利润 42,672 16,998 6,397 23,395 1,482 (540) 67,009 
所得税 (16,353) (2,871) (533) (3,404) (290) 190 (19,857) 
税后利润 26,319 14,127 5,864 19,991 1,192 (350) 47,152 
少数股东应享本期利润 (9) (5,012) (239) (5,251) - - (5,260) 
净利润 26,310 9,115 5,625 14,740 1,192 (350) 41,892 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
84 
八 分部报告(续) 
港澳地区 
截至2006年12月31日止 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 4,291,241 922,777 156,086 1,078,863 214,735 (259,566) 5,325,273 
分部负债 (3,915,907) (843,061) (135,404) (978,465) (204,673) 191,586 (4,907,459) 
其他分部信息 
资本性支出 5,954 740 666 1,406 52 - 7,412 
折旧和摊销 5,500 639 193 832 131 - 6,463 
信用承诺 884,607 188,664 14,812 203,476 61,297 (61,558) 1,087,822 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
85 
八 分部报告(续) 
截至2005年12月31日止 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 133,781 27,666 3,687 31,353 5,526 (3,315) 167,345 
利息支出 (51,094) (13,675) (1,651) (15,326) (3,835) 3,315 (66,940) 
净利息收入 82,687 13,991 2,036 16,027 1,691 - 100,405 
手续费及佣金收支净额 5,207 3,009 217 3,226 814 - 9,247 
净交易收入/(损失) 2,218 1,878 (4) 1,874 390 - 4,482 
投资(损失)/收益 (866) (104) 663 559 59 - (248) 
其他业务收支净额 573 133 1,432 1,565 4 - 2,142 
89,819 18,907 4,344 23,251 2,958 - 116,028 
业务及管理费 (36,600) (5,888) (1,399) (7,287) (1,717) - (45,604) 
营业税金及附加 (5,592) (34) (26) (60) (28) - (5,680) 
营业利润 47,627 12,985 2,919 15,904 1,213 - 64,744 
营业外收支净额 529 487 190 677 175 - 1,381 
扣除资产减值损失前利润总额 48,156 13,472 3,109 16,581 1,388 - 66,125 
资产减值(损失)/回拨 (15,404) 2,792 1,077 3,869 550 - (10,985) 
税前利润 32,752 16,264 4,186 20,450 1,938 - 55,140 
所得税 (19,409) (2,672) (142) (2,814) (320) - (22,543) 
税后利润 13,343 13,592 4,044 17,636 1,618 - 32,597 
少数股东应享本期利润 (5) (4,789) (311) (5,100) - - (5,105) 
净利润 13,338 8,803 3,733 12,536 1,618 - 27,492
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
86 
八 分部报告(续) 
港澳地区 
截至2005年12月31日止 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 (214,390) 4,742,806 
分部负债 (3,584,086) (768,215) (102,831) (871,046) (178,853) 153,799 (4,480,186) 
其他分部信息 
资本性支出 5,379 592 68 660 67 - 6106 
折旧和摊销 5,906 636 126 762 127 - 6,795 
信用承诺 699,066 168,203 14,131 182,334 52,434 (38,072) 895,762 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
87 
八 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、托管、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、 
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 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
88 
八 分部报告(续) 
截至 2006 年 12 月 31 日止 [ 
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 
利息收入 96,527 88,019 84,522 679 594 536 (56,207) 214,670 
利息支出 (41,111) (51,877) (54,661) (543) (19) (1,963) 56,211 (93,963) 
净利息收入 55,416 36,142 29,861 136 575 (1,427) 4 120,707 
手续费及佣金收支净额 6,674 6,237 759 1,643 (543) 115 (562) 14,323 
净交易收入/(损失) 4,105 2,264 (8,656) (1,967) 433 41 1 (3,779) 
投资(损失)/收益 - - (634) 2,662 293 1,469 41 3,831 
其他业务收支净额 (37) 201 - - 22 2,550 (190) 2,546 
66,158 44,844 21,330 2,474 780 2,748 (706) 137,628 
业务及管理费 (19,695) (26,188) (6,398) (1,164) (233) (1,287) 1,351 (53,614) 
营业税金及附加 (3,150) (962) (2,290) (9) (8) (43) - (6,462) 
营业利润 43,313 17,694 12,642 1,301 539 1,418 645 77,552 
营业外收支净额 151 220 123 (4) 38 1,701 (1,185) 1,044 
扣除资产减值损失前利润总额 43,464 17,914 12,765 1,297 577 3,119 (540) 78,596 
资产减值(损失)/回拨 (11,166) (569) 9 (6) 6 139 - (11,587) 
税前利润 32,298 17,345 12,774 1,291 583 3,258 (540) 67,009 
所得税 (19,857) 
税后利润 47,152 
少数股东应享本期利润 (5,260) 
净利润 41,892 
分部资产 1,797,363 687,592 2,727,735 23,741 20,206 117,264 (48,628) 5,325,273 
资本性支出 1,542 2,744 105 24 19 2,978 - 7,412 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
89 
八 分部报告(续) 
截至 2005 年 12 月 31 日止 
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 
利息收入 83,037 68,046 56,521 478 407 359 (41,503) 167,345 
利息支出 (31,913) (36,169) (38,466) (371) - (1,524) 41,503 (66,940) 
净利息收入 51,124 31,877 18,055 107 407 (1,165) - 100,405 
手续费及佣金收支净额 5,133 3,709 532 368 (494) (1) - 9,247 
净交易收入/(损失) 4,458 2,121 (1,930) 132 (309) 10 - 4,482 
投资(损失)/收益 - - (898) 242 19 389 - (248) 
其他业务收支净额 13 30 - - 848 1,309 (58) 2,142 
60,728 37,737 15,759 849 471 542 (58) 116,028 
业务及管理费 (16,468) (24,330) (4,583) (522) (177) (516) 992 (45,604) 
营业税金及附加 (3,012) (914) (1,698) (6) (3) (47) - (5,680) 
营业利润 41,248 12,493 9,478 321 291 (21) 934 64,744 
营业外收支净额 222 410 169 4 43 1,467 (934) 1,381 
扣除资产减值损失前利润总额 41,470 12,903 9,647 325 334 1,446 - 66,125 
资产减值(损失)/回拨 (12,529) 1,434 (5) (10) 1 124 - (10,985) 
税前利润 28,941 14,337 9,642 315 335 1,570 - 55,140 
所得税 (22,543) 
税后利润 32,597 
少数股东应享本期利润 (5,105) 
净利润 27,492 
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 1,296 2,628 86 - 7 2,089 - 6,106 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
90 
八 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，以上分部信息表基于新的内部转移定价基础计算。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，本集团采用资金来源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。 
2005 年，由于业务分部间定价基础变化而产生的影响分析如下。由于新基础导致了资金业务对公司银行业务和个人银行业务的部门间资金拆借的定 
价利差的增长，资金部门产生的净利息收入相应增加。 
截至 2005 年 12 月 31 日止 
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 
原报告净利息收入 52,035 36,583 12,438 107 407 (1,165) - 100,405 
变动额 (911) (4,706) 5,617 - - - - - 
重述后净利息收入 51,124 31,877 18,055 107 407 (1,165) - 100,405 
原报告营业利润 42,159 17,199 3,861 321 291 (21) 934 64,744 
变动额 (911) (4,706) 5,617 - - - - - 
重述后营业利润 41,248 12,493 9,478 321 291 (21) 934 64,744 
原报告扣除资产减值损失前利润总额 42,381 17,609 4,030 325 334 1,446 - 66,125 
变动额 (911) (4,706) 5,617 - - - - - 
重述后扣除资产减值损失前利润总额 41,470 12,903 9,647 325 334 1,446 - 66,125 
原报告税前利润 29,852 19,043 4,025 315 335 1,570 - 55,140 
变动额 (911) (4,706) 5,617 - - - - - 
重述后税前利润 28,941 14,337 9,642 315 335 1,570 - 55,140 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
91 
九 外汇敞口及资产负债币种分析 
于 2006 年 12 月 31 日和 2005 年 12 月 31 日，本集团的外汇净敞口列示如下： 
中国银行集团外汇敞口 
2006年 12 月 31 日 2005年 12 月 31 日 
人民币 
十亿元 
等值美元 
十亿元 
人民币 
十亿元 
等值美元 
十亿元 
资产负债表内外汇敞口净额 666 86 485 60 
减：资产负债表外外汇敞口 
净额 
(433) (55) (171) (21) 
外汇敞口净额 233 31 314 39 
减：境外投资的外汇敞口净 
额 
(110) (15) (105) (13) 
外汇净敞口 123 16 209 26 
2006 年度本集团外汇净敞口变动分析如下： 
外汇敞口 
等值美元十亿元 * 
资产负债表 
外汇 
敞口净额 
资产负债 
表外外汇 
敞口净额 
境外外币投 
资的外汇 
敞口净额(ii) 
外汇 
净敞口 
2006 年 1 月 1 日外汇敞口 60 (21) (13) 26 
- 股东投入的外币资本金 11 - - 11 
- 叙作外汇即期交易降低的外 
汇敞口 (i) (26) - - 
(26) 
- 叙作的美元/人民币货币掉期 
交易(i) 42 (42) - 
- 
- 本年到期的美元/人民币货币 
掉期交易 (4) 4 - 
- 
- 其他 3 4 (2) 5 
2006 年 12 月 31 日外汇敞口 86 (55) (15) 16 
* 本集团以美元表示的外汇敞口由截止到 2005 年和 2006 年 12 月 31 日的所有外汇敞口的等价美元 
组成，所有外汇敞口按年终与美元的汇率折算成等值美元。 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
92 
九 外汇敞口及资产负债币种分析 (续) 
(i) 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，本集团对外汇 
敞口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敞口，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敞口盈余以及相关盈利 。 
本行于2005年与汇金签署了一份外币期权合同(“汇金期权”)，名义本金为180亿美元，对部 
分资产负债表内外汇敞口净额进行了经济套期保值(见注释五、3)。 
2006年，本行通过叙做外汇即期交易，名义金额合计为263亿美元(2005：无)，降低外汇敞 
口净额(见注释五、3)。 
于 2006 年，本行还叙做了一系列美元/人民币货币掉期交易，名义本金合计为 415 亿美元 
(2005：42 亿美元)，期限是一年或三年，用以获取美元和人民币的利差收益。这些美元/人 
民币货币掉期交易没有对集团的净外汇敞口产生影响。截至 2006 年 12 月 31 日止，未交割 
名义金额为 415 亿美元(2005 年：42 亿美元)，相应的公允价值为 22.32 亿元(2005 年： 
0.10 亿元)，(见注释五、3)。 
自资产负债表日至财务报告日止，本行已执行三笔与汇金进行的外汇期权交易，根据有关的 
外币期权合同约定汇率向汇金出售 45 亿美元。本行还叙做名义金额为 68 亿美元的外汇即 
期交易，降低外汇敞口净额。 
与此同时，本行叙做了一系列交叉货币利率互换协议，其名义金额为 113 亿美元。根据该协 
议，本行在交易日以即期汇率换入美元，并在一年后换出美元换回人民币。相关利息根据市 
场利率在交易期限内按季交换，见注释十二。 
(ii) 如果境外经营实体的功能性货币不是人民币，则本集团对境外经营实体的净投资为本行海外 
子公司、分行及联营企业所持有的净资产/负债。为编制合并财务报表，该等境外经营的成 
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” 确认。该折 
算差异对本集团的净利润没有影响。 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
93 
九 外汇敞口及资产负债币种分析 (续) 
当外币对人民币汇率变动 1%时，上述本集团外汇净敞口(不包括境外外币投资)因汇率波动 
产生的外汇折算损益对集团税前利润的潜在影响分析如下： 
2006年 12 月 31 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% +/- 1,230 +/- 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人民币对外币的汇率波动对本集团外 
汇净敞口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在资产负债表日后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敞口的后续变动。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
94 
九 外汇敞口及资产负债币种分析 (续) 
2006 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 368,201 23,591 42,921 2,144 6,071 539 46,773 490,240 
衍生金融产品资产 7,418 9,161 7,694 150 88 174 152 24,837 
存放及拆放同业 52,087 190,521 111,983 20,386 8,831 7,103 16,929 407,840 
债券资产 875,220 703,112 169,310 46,974 30,695 5,808 48,299 1,879,418 
贷款 1,692,980 341,398 319,103 34,360 21,940 4,516 17,509 2,431,806 
减：贷款损失准备 (78,459) (11,937) (2,557) (458) (518) (48) (316) (94,293) 
其他资产 91,362 47,466 38,358 1,398 1,371 738 4,732 185,425 
资产总计 3,008,809 1,303,312 686,812 104,954 68,478 18,830 134,078 5,325,273 
负债 
短期金融负债 - 36,598 40,690 - - - 1,909 79,197 
衍生金融产品及公允价值变动计入损 
益的负债 9,688 73,876 28,083 282 78 762 279 113,048 
同业存入及拆入 177,808 84,658 8,592 4,939 8,442 417 36,525 321,381 
客户存款 2,902,584 422,490 573,912 42,529 44,032 23,210 86,665 4,095,422 
借入其他资金及发行债券 60,000 40,187 - 15,247 3,984 786 3,367 123,571 
其他负债 107,003 26,782 34,863 2,203 981 559 2,449 174,840 
负债总计 3,257,083 684,591 686,140 65,200 57,517 25,734 131,194 4,907,459 
资产负债表内敞口净额 (248,274) 618,721 672 39,754 10,961 (6,904) 2,884 417,814 
资产负债表外敞口净额 439,850 (468,346) 79,804 (37,825) (13,762) 7,222 156 7,099 
信用承诺 505,383 345,814 152,091 51,404 16,424 4,440 12,266 1,087,822 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
95 
九 外汇敞口及资产负债币种分析 (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 
借入其他资金及发行债券 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 
资产负债表内敞口净额 (222,163) 429,748 27,474 31,886 12,672 (10,780) (6,217) 262,620 
资产负债表外敞口净额 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 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
96 
十 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 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 - 212,626 277,614 - - - - 490,240 
衍生金融产品资产 - 6,466 2,516 1,699 8,181 3,321 2,654 24,837 
存放及拆放同业 - 8,702 264,913 106,193 27,909 123 - 407,840 
债券资产 - - 107,557 178,296 335,588 764,725 493,252 1,879,418 
贷款 87,331 33,259 130,984 255,756 661,993 642,817 619,666 2,431,806 
减：贷款损失准备 (38,943) (334) (1,722) (4,381) (15,346) (18,608) (14,959) (94,293) 
其他资产 365 13,322 10,934 6,419 16,862 27,048 110,475 185,425 
资产总计 48,753 274,041 792,796 543,982 1,035,187 1,419,426 1,211,088 5,325,273 
负债 
短期金融负债 - 47,939 4,412 5,078 21,768 - - 79,197 
衍生金融产品及公允价值变动 
计入损益的负债 - 2,977 22,020 16,288 40,967 18,639 12,157 113,048 
同业存入及拆入 - 181,292 78,881 19,390 23,346 18,472 - 321,381 
客户存款 - 1,854,295 671,668 439,523 849,657 279,368 911 4,095,422 
借入其他资金及发行债券 - - 947 743 5,754 22,633 93,494 123,571 
其他负债 - 71,152 15,546 7,227 49,618 13,746 17,551 174,840 
负债总计 - 2,157,655 793,474 488,249 991,110 352,858 124,113 4,907,459 
流动性净额 48,753 (1,883,614) (678) 55,733 44,077 1,066,568 1,086,975 417,814 
中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
97 
十 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 
借入其他资金及发行债券 - - 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 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
98 
十一 或有事项、承诺及主要表外项目 
1 法律诉讼 
截至 2006 年 12 月 31 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12月 
31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548.06亿元(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12月31日 2005年12月31日 
贵金属 - 2,617 
票据(注释五、6) - 11,968 
债券投资(注释五、5) 55,212 49,658 
合计 55,212 64,243 
3 资本性承诺 2006 年 12 月 31 日 2005年12月31日 
本集团的资本承诺金额列示如下: 
已批准及签订合同 38,741 1,893 
已批准但未签订合同 1,536 2,687 
40,277 4,580 
本集团以上承诺皆为购买办公物业和设备(包括为经营租赁目的购置的飞行设备)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。 
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12月31日 2005年12月31日 
一年以内 1,604 1,371 
一年至二年 1,281 1,085 
二年至三年 969 807 
三年以上 2,832 2,546 
合计 6,686 5,809 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
99 
十一 或有事项、承诺及主要表外项目(续) 
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，本行有义务按提前兑付安排确定的凭证式国债本金及至兑付日的应付利息履 
行兑付责任。截至 2006 年 12 月 31 日止，本行具有提前兑付义务的凭证式国债的本金余额 
为 845.00 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12月31日 2005年12月31日 
银行承兑 217,093 195,234 
开出保函 290,205 212,987 
开出信用证 109,083 101,195 
不可撤销的信用承诺及其他 471,441 386,346 
合计 1,087,822 895,762 
7 受托业务 
本集团向第三方提供托管、委托贷款、投资管理及信托等服务。这些因受托业务而持有的资 
产不包括在本集团的会计报表中。截至 2006 年 12 月 31 日止，本集团证券及其他金融资产 
托管账户余额为 7,079.53 亿元(2005 年：5,628.23 亿元)；委托贷款余额为 980.46 亿元 
(2005 年：516.26 亿元)；托管贵金属余额为 31.50 亿元(2005 年：26.96 亿元)。 

中国银行股份有限公司 
会计报表注释 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
100 
十二 资产负债表日后事项 
(1) 2007 年 3 月 16 日，全国人民代表大会批准了《中华人民共和国企业所得税法》。该项法律将 
于 2008 年生效，国内企业所得税率将从 33%降到 25%。预计自 2008 年起，本集团将受益 
于此项政策，税率降低将直接减少本集团的实际税率。按照企业会计准则第 18 号的规定，递 
延所得税项目于资产负债表日须按已颁布的税率予以反映，经全国人民代表大会批准的税率 
调整将影响本集团境内经营机构递延所得税净资产的账面价值。基于截至 2006 年 12 月 31 
日止的递延所得税净资产余额，本集团已初步评估该项变化的影响，估计减少递延税资产约 
38 亿元。 
(2) 自资产负债表日至财务报告日止，本行已执行三笔与汇金进行的外汇期权交易，名义金额 45 
亿美元。本行还与中国人民银行通过叙做名义金额为 68 亿美元的外汇即期交易，降低外汇敞 
口净额。 
与此同时，本行叙做了一系列交叉货币利率互换协议，其名义金额为 113 亿美元。见注释 
九。 

中国银行股份有限公司 
附件一 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
101 
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 2005 年 
利息收入 215,334 167,948 
利息支出 (93,963) (66,940) 
净利息收入 121,371 101,008 
手续费及佣金收入 17,139 12,698 
手续费及佣金支出 (2,816) (3,451) 
手续费及佣金收支净额 14,323 9,247 
净交易(损失)/收益 (1,544) 4,283 
证券投资净收益/(损失) 1,132 (582) 
其他营业收入 13,096 11,150 
贷款减值损失 (12,342) (11,486) 
营业费用及其他 (68,731) (59,984) 
营业利润 67,305 53,636 
联营企业及合营企业投资净收益 632 175 
税前利润 67,937 53,811 
所得税 (19,673) (22,253) 
税后利润 48,264 31,558 
可供分配： 
本行股东 42,830 25,921 
少数股东 5,434 5,637 
48,264 31,558 
可供分配给本行股东的每股净收益(以元/ 
股表示) 
-每股基本净收益和稀释后每股净收益 0.18 0.14 
股息 
本年度宣布并发放的股息 - 12,737 
提交股东大会批准的最终股息 10,154 1,375 
10,154 14,112
中国银行股份有限公司 
附件一 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
102 
2 合并资产负债表 
2006年 2005年 
资产 
现金及存放同业 39,812 41,082 
存放中央银行 379,631 316,941 
拆放同业及其他金融机构 399,138 332,099 
存出发钞基金 36,626 35,586 
贵金属 42,083 26,974 
交易性及其他公允价值变动 
计入损益的金融资产 115,828 111,782 
衍生金融产品资产 24,837 16,808 
客户贷款和垫款净额 2,337,726 2,152,112 
证券投资 
－可供出售证券 815,178 602,221 
－持有至到期日债券 461,140 607,459 
－贷款及应收款 500,336 361,851 
投资联营企业及合营企业 5,931 5,061 
固定资产 86,200 62,417 
投资物业 8,221 8,511 
递延所得税资产 21,396 20,504 
其他资产 53,570 38,640 
资产总计 5,327,653 4,740,048 

中国银行股份有限公司 
附件一 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
103 
2 合并资产负债表(续) 
2006年 2005年 
负债 
同业存入和其他金融机构 178,777 134,217 
对中央银行负债 42,374 30,055 
发行货币债务 36,823 35,731 
发行存款证及同业拆入 146,908 212,626 
衍生金融产品及公允价值变动 
计入损益的负债 113,048 91,174 
客户存款 4,091,118 3,699,464 
发行债券 60,173 60,179 
借入其他资金 63,398 52,164 
应付税款 18,149 23,459 
退休福利负债 7,444 7,052 
递延所得税负债 3,029 2,136 
其他负债 153,456 136,272 
负债合计 4,914,697 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 66,617 (5,954) 
盈余公积 10,380 5,987 
一般准备及法定准备金 13,934 5,109 
未分配利润 38,425 10,188 
可供出售证券公允价值变动储备 2,009 1,899 
外币报表折算差额 (2,071) (237) 
库藏股 (216) - 
382,917 226,419 
少数股东权益 30,039 29,100 
股东权益合计 412,956 255,519 
负债及股东权益总计 5,327,653 4,740,048 
中国银行股份有限公司 
附件一 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
104 
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 
12月31日 
2005年 
12月31日 2006年 2005年 
按中国会计准则呈报 388,254 233,842 41,892 27,492 
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) (7,693) (7,999) 306 427 
—投资性房地产以公允价值计量(2) 3,318 2,816 502 1,695 
—权益性投资分类为可供出售证券并以公 
允价值计量(3) 2,742 1,775 - - 
—计提内退员工内退期间的工资及福利义 
务(4) (5,316) (5,097) (219) (2,627) 
—对非交易性贵金属按成本法计量(5) (791) (637) (154) (329) 
—将汇金支付的年金计划启动资金确认为 
费用(6) - - - (500) 
—递延所得税及上述调整的影响(7) 1,866 992 184 290 
—以上事项对少数股东权益的影响及其他 537 727 319 (527) 
小计 (5,337) (7,423) 938 (1,571) 
按国际财务报告准则呈报 382,917 226,419 42,830 25,921 

中国银行股份有限公司 
附件一 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
105 
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) 投资性房地产以公允价值计量 
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计算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。 

中国银行股份有限公司 
附件一 
中国会计准则与国际财务报告准则会计报表差异说明 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
106 
4 中国会计准则与国际财务报告准则差异调节说明 (续) 
(6) 将汇金支付的年金计划启动资金确认为费用 
中国银行已经建立了年金计划作为国内在职员工的补充退休福利。汇金作为母公司在 
2005 年为年金计划支付了 5 亿元启动资金。国际财务报告准则要求将其确认为本公司的 
营业费用，汇金出资部分作为股东贡献列入资本公积。 
(7) 递延所得税及上述调整的影响 
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 
暂时性差异采用债务法计提递延税项。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 
扣除非经常性损益的净利润 (未经审计) 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
107 
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 2005年 
净利润 41,892 27,492 
加/(减)：非经常性损益 
-处置长期股权投资净(收益)/损失 (770) 111 
-营业外收入(1) (2,298) (2,566) 
-营业外支出(2) 1,254 1,185 
-以前年度已经计提减值准备的转回(3) (839) (697) 
税项调整 583 649 
扣除非经常性损益的净利润 39,822 26,174 
(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 
附件三 
净资产收益率及每股收益计算表 (未经审计) 
2006年度 
(除特别注明外，金额单位为人民币百万元) 
108 
本计算表根据《公开发行证券公司信息披露编报规则第09号 – 净资产收益率和每股 
收益计算及披露》的规定编制。 
2006 年 2005年 
年末净资产 388,254 233,842 
年度加权平均净资产 (1) 319,472 217,866 
当期发行在外加权平均的普通股股数 (百万股) 
(见 2006 年度会计报表注释五、39) 236,055 186,425 
年度净利润 41,892 27,492 
年度加权平均净资产收益率 (%) 13.11% 12.62% 
每股收益 (人民币元/股) 
(见 2006 年度会计报表注释五、39) 0.18 0.15 
年度非经常性损益 2,070 1,318 
扣除非经常性损益后年度净利润 39,822 26,174 
扣除非经常性损益后年度加权平均净资产收益率 (%) 12.46% 12.01% 
扣除非经常性损益后每股收益 (人民币元/股) 0.17 0.14 

bank of china limited 
stock code：601988 
2006 annual report 
this version will be replaced by the printed version of 2006 annual report 
of bank of china limited in late april 2007. 
bank of china 
2 
table of contents 
important notes 3 
corporate information 4 
financial highlights 7 
message from the chairman 12 
message from the president 15 
management discussion & analysis 18 
economic, financial environment 19 
financial review 24 
business review 62 
risk management 92 
capital management and funding transfer pricing 124 
organization information, human resource management 
and development 129 
cooperation with strategic investors 134 
corporate honors and responsibilities 138 
changes in share capital and sharholdings of substantial shareholders 
142 
directors, supervisors and senior management 148 
corporate governance 163 
report of board of directors 181 
report to be delivered by the board of supervisors of bankof china at 
the 2007 general meeting of shareholders 192 
significant events 197 
validation opinion of the board of directors and the senior management 
of boc on the 2006 annual report 198 
financial statements and auditors’ report 
documents available for inspection 200 
reference for shareholders 201 
organizational chart 205 
list of branches and subsidiaries 206 
definitions 223 
3 
important notes 
the board of directors of bank of china limited (the “bank”) and its directors, the 
board of supervisors and its supervisors and 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 22 march 2007 reviewed and adopted the text and summary 
of the 2006 annual 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 annual financial statements under prc accounting standards and international 
financial reporting standards have been audited by pricewaterhousecoopers zhong tian 
certified public accountants limited company (“pwc”) and pricewaterhousecoopers 
according to the chinese and international audit standards respectively, and they formed 
the unqualified auditor’s opinion. 
board of directors of bank of china limited 
22 march 2007 
chairman xiao gang, president li lihui, executive 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 annual report are 
true and complete. 
4 
corporate information 
re gistered name in chinese 
中国银行股份有限公司 
registered corporate name in english 
bank of china limited 
legal representative 
xiao gang 
board of directors 
honorary chairperson 
chen muhua 
honorary vice chairperson 
chuang shih ping 
chairman 
xiao gang 
vice chairman and president 
li lihui 
executive director 
hua qingshan 
li zaohang 
non-executive director 
zhang jinghua 
yu erniu 
zhu yan 
zhang xinze 
hong zhihua 
huang haibo 
sir frederick anderson goodwin 
seah lim huat peter 
independent non-executive director 
anthony francis neoh 
william peter cooke 
patrick de saint-aignan 
alberto togni 
board of supervisors 
chairman of board of supervisors 
liu ziqiang 
supervisor 
wang xueqiang 
liu wanming 
li chunyu (employee supervisor) 
liu dun (employee supervisor) 
senior management 
president 
li lihui 
executive vice president 
hua qingshan 
li zaohang 
zhou zaiqun 
zhang yanling 
zhu min 
wang yongli 
secretary of the party discipline committee 
zhang lin 

5 
authorized representatives 
li lihui 
yeung jason chi wai 
secretary to the board of directors 
yeung jason chi wai 
qualified accountant 
leung frances kim lan 
registered address of head office: 
no.1 fuxingmen nei dajie, beijing, china 
office address: no.1 fuxingmen nei dajie, 
beijing, china 
post code: 100818 
telephone: 8610-66596688 
fax: 8610-66594568 
website: http://www.boc.cn 
e-mail: bocir@bank-of-china.com 
place of business in hong kong: 
bank of china tower, 1 garden road, 
central, hong kong 
selected newspapers and websites for 
information disclosure 
according to the regulations by csrc the 
selected newspapers for prc gaap 
announcement in chinese mainland： 
china securities, shanghai securities, 
securities times, china daily 
the ifrs gaap announcement will be 
published in one chinese and one english 
hong kong newspaper at the same time. 
website designated by csrc to publish the 
annual report: http://www.sse.com.cn 
website designated by the stock exchange 
of hong kong limited to publish the 
annual report: http://www.hkex.com.hk 
places where the annual report can be 
obtained: major business locations 
hong kong legal advisor 
freshfields bruckhaus deringer 
china legal adviser 
king & wood prc lawyers 
compliance advisers 
goldman sachs (asia) l.l.c. 
ubs ag acting through its business group, 
ubs investment bank 
listing affairs representitive 
luo nan 
office address: no.1 fuxingmen nei 
dajie, beijing, china 
post code: 100818 
telephone: 8610-6659 4626 
fax: 8610-6659 4568 
e-mail: bocir@bank-of-china.com 
auditors 
domestic auditors: 
pricewaterhousecoopers zhong tian 
certified public accountants limited 
company 
address: floor 11, pwc center, no.202 
hubin road, shanghai 
post code: 200021 

6 
international auditors: 
pricewaterhousecoopers 
address: 22/f, prince’s building center, central, 
hong kong 
sponsor for a share 
china galaxy securities co., ltd 
citic securities co. ltd. 
guotai junan securities co.ltd 
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 licence serial number: 
1000001000134 
financial institution licence serial 
number:b10311000h0001 
tax registration certificate number:jszz 
110102100001342 

7 
financial highlights 
(the following is prepared in accordance with prc gaap and “financial enterprise 
accounting standards (2001)”) 
unit: rmb million 
note 2006 2005 2004 2003(note 1) 
results of operations 
net interest income 120,707 100,405 84,985 71,904 
non-interest income 16,921 15,623 19,752 13,781 
operating income 2 137,628 116,028 104,737 85,685 
operating and administrative expenses (53,614) (45,604) (41,915) (34,041) 
business tax and surcharges (6,462) (5,680) (4,981) (3,972) 
operating profit 77,552 64,744 57,841 47,672 
non-operating income, net 1,044 1,381 532 179 
impairment losses (11,587) (10,985) (23,797) (16,432) 
profit before income tax 67,009 55,140 34,576 31,419 
profit after tax 47,152 32,597 25,246 24,743 
net profit 41,892 27,492 20,932 21,553 
total dividend 10,154 14,112 14,200 - 
net profit after deducting the 
non-routine items 
3 39,822 26,174 20,310 21,542 
balance sheet items 
total assets 5,325,273 4,742,806 4,270,443 3,979,965 
loans and advances to customers, net 2,337,513 2,151,893 2,071,693 1,921,131 
debt investment securities 4 1,879,418 1,669,591 1,309,479 1,092,187 
total liabilities 4,907,459 4,480,186 4,037,705 3,750,489 
deposit from customers 4,095,422 3,703,777 3,342,477 3,035,956 
capital and reserves attributable to the 
equity holders of the bank 
388,254 233,842 205,351 203,752 
number of ordinary shares in issue 
average(shares, million) 5 236,055 186,425 186,390 186,390 
year-end(shares, million) 253,839 209,427 186,390 186,390 
per share 
earnings per share (weighted average, 
rmb) 
6 0.18 0.15 0.11 0.12 
dividend per share (before tax, rmb) 7 0.04 0.08 0.08 - 
net assets per share(rmb) 8 1.53 1.12 1.10 1.09 
adjusted net assets per share(rmb) 9 1.52 1.11 1.09 1.07 
key financial ratios 
return on average total assets (%) 10 0.94 0.72 0.61 0.68 
return on average owner’s equity 
(excluding minority interests,%) 
11 13.47 12.52 10.23 10.58 
return on average owner’s equity 
(including minority interests,%) 
12 13.86 13.16 10.92 10.78
8 
net interest spread(%) 13 2.28 2.21 2.05 1.95 
net interest margin (%) 14 2.44 2.32 2.15 2.03 
loan-deposit ratio(%) 15 59.38 60.35 64.22 71.06 
non-interest income to operating income 
(%) 
16 12.29 13.46 18.86 16.08 
cost to income ratio (%) 17 38.96 39.30 40.02 39.73 
capital adequacy ratios 
core capital adequacy ratio (%) 11.44 8.08 8.48 n/a 
capital adequacy ratio (%) 13.59 10.42 10.04 n/a 
asset quality 
non-performing loans 98,220 103,226 109,920 351,224 
npl ratio (%) 18 4.04 4.62 5.12 16.28 
allowance for loan impairment losses 94,293 83,153 74,769 236,342 
provision coverage ratio (%) 19 96.00 80.55 68.02 67.29 
credit cost (%) 20 0.50 0.50 1.11 n/a 
human resources 
number of employees of the group 
(person) 
21 232,632 229,742 238,672 241,401 
credit ratings 
moody’s ａ2 ａ2 ａ2 ａ2 
standard & poor’s ｂｂｂ＋ ｂｂｂ＋ ｂｂｂ－ ｂｂ＋ 
fitch ratings ａ ａ－ ｂｂｂ＋ ｂｂｂ＋ 
exchange rate 
usd/rmb year-end middle rate 7.8087 8.0702 8.2765 8.2767 
eur/rmb year-end middle rate 10.2665 9.5797 11.2627 10.3383 
hkd/rmb year-end middle rate 1.0047 1.0403 1.0637 1.0657 
share price(year-end closing price) 
bank of china(601988.sh, rmb per 
ordinary share) 
5.43 n/a n/a n/a 
bank of china (3988.hk, hkd per 
ordinary share) 
4.27 n/a n/a n/a 
boc hong kong (holdings) limited 
(2388.hk, hkd per ordinary share) 
21.15 14.95 14.85 14.60 
on august 26, 2004, the bank converted its form of ownership into a joint stock 
commercial bank and bank of china limited was formed and registered in beijing. on 1 
june and 5 july 2006, the bank’s shares were successfully listed on the stock exchange 
of hong kong and the shanghai stock exchange, respectively, being the first bank in 
china dually listed in the international and domestic capital markets. the bank remains a 
9 
state-controlled joint stock commercial bank. 
note 1. the results of operations and related financial ratios for the year 2003 were 
adjusted to exclude the net gains on the disposal of bochk shares of rmb 7.2 billion. 
note 2. operating income comprises net interest income and non-interest income. 
non-interest income includes net fee and commission income, net trading (losses)/ gains, 
net (losses)/ gains on investment securities and other operating income. 
note 3. the non-routine profit/loss was calculated 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). 
note 4. debt investment securities include available-for-sale securities, held-to-maturity 
securities, investment securities classified as loans and receivables and trading and other 
debt securities at fair value through profit or loss. 
note 5. average number of ordinary shares in issue represents the weighted average 
number of ordinary shares in issue during the period. 
note 6. earnings per share (weighted average) = net profit ÷ average number of 
ordinary shares; average number of ordinary shares is calculated with the number of days 
as the weight in accordance with the preparation conventions of information disclosure 
by companies offering securities to the public no.9 – the calculation and disclosure of 
return on net assets and earnings per share. 
note 7. dividend per share = total dividend ÷ number of ordinary shares in issue at the 
year-end. the calculation of weighted average amounts did not consider the impact of 
funds raised from issuing ordinary shares to strategic investors in 2005 due to the fact 
that the transfer of the funds to the bank’s accounts was only completed on december 30 
and 31 respectively. 
note 8. net assets per share = the total owner’s equity at year-end ÷ number of ordinary 
shares in issue at the year-end 
note 9. adjusted net assets per share = ( owner’s equity at year-end – accounts 
receivable above 3 years – prepaid expenses – long-term prepaid expenses )÷ number of 
ordinary shares in issue at year-end. it is computed according to the standards 
concerning the contents and formats of information disclosure by companies offering 
10 
securities to the public (no.2) — contents and formats of annual report (revision 2005) 
promulgated by china securities regulatory commission (csrc). 
note 10. return on average total assets = profit after tax ÷ average total assets, average 
total assets = (total assets at the beginning of the year + total assets at the year end) ÷ 2 
note 11. return on average owner’s equity (excluding minority interests) = net profit ÷ 
average owner’s equity, average owner’s equity = (owner’s equity at the beginning of the 
year + owner’s equity at the end of the year) ÷ 2. as there were a number of financial 
restructuring transactions directed by the prc government during 2003, the financial data 
of the year are not comparable with that of 2002. therefore, return on average owner’s 
equity of 2003 is calculated based on the year-end owner’s equity. 
note 12. return on average owner’s equity (including minority interests) is calculated 
according to the guidelines on the corporate governance and supervision of 
state-owned commercial banks (yinjianfa [2006] no.22). 
note 13. net interest spread＝average yield of interest-earning assets－average cost of 
interest-bearing liabilities. average yield of interest-earning assets = interest income ÷ 
average balance of interest-earning assets. average cost of interest-bearing liabilities = 
interest expense ÷ average balance of interest-bearing liabilities. average balances are the 
daily average balances derived from the bank’s management accounts (unaudited). 
note 14. net interest margin＝net interest income ÷ average balance of interest-earning 
assets. average balances are daily average balances derived from the bank’s management 
accounts (unaudited). 
note 15. loan-deposit ratio = loan balance at year-end ÷ customer deposit balance at 
year-end. 
note 16. non –interest income to operating income= non-interest income ÷ operating 
income. in 2006, excluding the loss from revaluation of foreign currency positions of 
rmb 9.82billion (2005: rmb 4.746 billion), the non-interest income accounted for 
18.14% (2005: 16.87%) of the total operating income. in 2005, excluding the effect of 
appreciation of rmb against usd (the group’s loss generated from foreign currency 
exposure was rmb 4.746billion), the non-interest income accounted for 16.87% of the 
total operating income. 
note 17. cost to income ratio = operating and administrative expenses ÷ operating 
11 
income 
note 18. npl ratio = non-performing loans balance at year-end ÷ gross loan balance at 
year-end 
note 19. provision coverage ratio = allowance for loan impairment losses at year-end ÷ 
gross npl balance at year-end 
note 20. credit cost = loan impairment losses ÷ average loan balance, where average 
loan balance = (loan balance at the beginning of the year＋loan balance at the end of the 
year)÷2 
note 21. number of employees of the group includes temporary and contract staff. 
12 
message from the chairman 
i am pleased to report to our shareholders and members of the community the significant 
achievements we made in 2006. in 2006, bank of china recorded an after-tax profit of 
rmb 41.892 billion, an increase of 52.38% from the previous year, and earnings per 
share (eps) of rmb 0.18. this result is well above our projected net profit of at least 
rmb 33 billion and eps of rmb 0.14 at the time of our public listing. operating income 
and profits rose, respectively, to rmb 137.628 billion and rmb77.552 billion, an 
increase of 18.62% and 19.78% from their respective figures last year. average return on 
total assets (roa) and average return on net equity (roe) have reached 0.94% and 
13.86%, respectively. while ensuring a steady increase in profitability, the bank reduced 
both the overall balance and ratio of our non-performing loans. as of the end of 2006, 
non-performing loans balance stood at rmb 98.220 billion, a decrease of rmb 5.006 
billion from last year’s end balance, and our non-performing loans ratio decreased to 
4.04% from 4.62%. 
at the annual shareholder’s meeting on june 14, 2007, the board of directors will 
propose a cash dividend of rmb 0.04 per share for the second half of 2006. the total 
amount of the cash dividend accounts for approximately 44.4% of distributable profit 
during the period, and is at the high end of the dividend payout ratio of 35%-45% that we 
announced when we went public. 
2006 marked the first year of china’s 11th five-year plan, and china’s economy 
continued to maintain steady and rapid growth, albeit some imbalances in the economic 
development have been noticed. the transformation process has started for the 
development mode of the chinese economy to go towards quality, efficiency, cleanliness, 
safety, and the realization of growth in a fully harmonious and sustainable manner. 
china's financial market has been steady and buoyant, with ample liquidity in the money 
market and continued success in its banking reform. 
against these various opportunities and challenges, we continue to enhance our position 
13 
as the premier bank in china and pursue our objective of becoming a leading 
international bank. in 2006, bank of china became the first bank in china to be 
dual-listed in both the international and domestic capital markets, further increasing our 
capital strength and capital adequacy ratio. we have embraced the regulations of the 
banking industry and the capital markets and have delivered to our investors our first 
semi-annual and quarterly report after ipo, with disclosure in a true, accurate, complete 
and timely manner and in compliance with international regulatory standards. 
cooperation with our strategic investors is bearing fruit. we have made substantial 
progress in business areas such as credit card, syndicated lending, and in the money and 
capital market operation, as well as in infrastructure areas such as risk management, 
internal controls, financial management, human resource management, treasury, training, 
business organization structure, and information technology. 
at the end of 2006, we acquired singapore aircraft leasing enterprise, a step forward in 
implementing our strategic plan of broadening our financial services platform. 
internally, we have actively promoted strategic development of various business lines, 
advancing and further developing our risk management and internal control processes. 
we continued to deepen our reform effort of human resource management, established 
market-oriented remuneration system in domestic operations, and improved our incentive 
and accountability mechanism. we strived to accelerate our it blueprint 
implementation, achieving initial milestone in the development of the core banking 
system. we also had a bank-wide discussion on our core values to cultivate a common 
set of principles and code of conduct to meet the challenges arising from the public 
listing. 
in the past year, we have continued to improve our corporate governance framework at 
all levels, which include the board of directors, board of supervisors, senior 
management, and shareholder’s meeting. we appointed mr. patrick de saint-aignan and 
mr. alberto togni as independent non-executive directors of the bank, and sir frederick 
anderson goodwin and mr. seahlim huat peter as non-executive directors. following 
these appointments, the number of overseas directors increased to six—including four 
14 
independent non-executive directors—substantially enhancing the operating standards of 
the board of directors towards the international standards. 
looking at the upcoming year, as china's market economy continues to develop, we are 
aware that we will be facing increasing competitive pressures from local and global 
foreign banks, as well as strict regulatory supervisions from both financial regulators and 
the capital market regulators. accordingly, we are improving our corporate governance as 
a mean to maximize shareholder value, as well as focusing on internal reform, aiming at 
proactively adjusting our strategies, adapting to the new business environment, and 
enhancing our capabilities in innovation and competitiveness. 
we will continue to focus on all business risks to ensure healthy and balanced 
development, and manage foreign currency exposure to mitigate the business impact of 
rmb appreciation. we will also expedite the re-engineering of our business process 
re-engineering and the it blueprint implementation towards a robust customer-centric 
platform, enabling centralized business operation and multi-dimensional management of 
major business lines. last but not at all least, we will diligently foster a corporate 
culture that nurtures honesty, efficiency, responsibility, innovation, and harmony, so as to 
promote the overall harmonious development of the bank. 
i would like to express my gratitude to our domestic and overseas clients, our 
shareholders, our peers and our friends who have supported the bank during the year, and 
i hope to count on your continuing confidence and support. my thanks also extend to the 
board of directors, the board of supervisors and senior management, and to all the staff 
for their efforts and dedication in a year that was filled with many challenges. 
xiao gang 
chairman 
22 march 2007 
15 
message from the president 
the year 2006 was a landmark in the development history of bank of china (“the bank”). 
having successfully listed in both the domestic and overseas markets, as well as 
achieving initial success in our joint-stock reform, the bank has entered a new epoch in 
its development. 
the management has diligently implemented the development strategies adopted by the 
board of directors. taking a proactive and balanced approach, the management has 
adopted principle of scientific development to maximize the bank’s value and has met 
major business targets and goals set by the board. as of the end of 2006, the bank's total 
assets stood at rmb 5325.273 billion, total liabilities were rmb 4907.459 billion, and 
total shareholders’ equity (excluding minority interests) was rmb 388.254 billion, up 
12.28%, 9.54% and 66.03% respectively over the end of 2005. the bank generated 
after-tax profit of rmb 47.152 billion (a year-on-year rise of 44.65%) in which the 
after-tax profit attributable to equity holders amounted to rmb 41.892 billion, up 
52.38% from the previous year. net earnings per share was rmb 0.18, a rise of 20% 
over 2005. roa was 0.94 % and roe was 13.86%, up 0.22 and 0.70 percentage points 
over 2005, respectively. 
the significant increase in profits in 2006 was mainly attributable to the rapid growth of 
net interest income and non-interest income, strict control of credit costs, effective 
management of market risk, further improvement of operating efficiency, and a reduction 
of the effective tax rate. 
due to the fast growth of interest-earning assets and the significant role of active liability 
management to reduce funding costs, the bank’s net interest spread and net interest 
margin continued to widen, reaching 2.28% and 2.44% respectively, up 7 and 12 basis 
points over the previous year. the bank’s deposits in local and foreign currencies, loans, 
securities investments, and net interest income increased by 10.57%, 8.80%, 12.57% and 
20.22% respectively. 

16 
excluding the impact of the estimated losses on the net exposure of foreign currencies, 
the bank’s non-interest income accounted for 18.14% of its operating income, up 1.27%, 
with net handling fee and commission income growing by 54.89%. additionally, the 
bank’s multi-faceted operation platform was further expanded, with pre-tax profit from 
investment banking and insurance business rising by 188.31%, contributing 2.80% to the 
total profit, as opposed to 1.18 % in the year previous. 
in 2006, the bank’s asset quality continued to improve. credit cost was controlled at 
0.50%, with the ratio of non-performing loans at 4.04%, down 0.58% from the end of the 
previous year. special mention loans decreased from 12.71% to 8.15% while the 
provision coverage increased by 15.45% to 96.00%. by way of exchange settlement, the 
bank reduced foreign currency exposure by usd 10.2 billion, effectively lowering the 
exchange rate risk. 
operating costs also continued to be controlled effectively, with cost-income ratio 
decreased from 39.30% to 38.96%. our effective tax rate in 2006 also declined from 
40.88% in 2005 to 29.63%. 
the bank has promoted business cooperation with strategic investors and helped create 
powerful synergies. cooperation between the bank and rbs has made remarkable 
achievements in credit cards, syndicated loans, aircraft lease and financing, supply chain 
financing, private banking, risk management, personnel training and public relations. 
we have also achieved progress in cooperation with temasek, ubs, adb, and ssf in the 
fields of small enterprise finance, investment banking, corporate governance and internal 
controls. 
in 2007, reform of the financial system will accelerate and china's banking sector will 
enter a new stage as the market becomes fully open to foreign banks and competition 
increases. in the face of such new opportunities and challenges, we will continue our 
efforts in developing bank of china into a leading international bank, and continue to 
refine our operating mechanisms and growth patterns. we will expedite our business 
17 
progress re-engineering and effectively implement the it blueprint; we will improve risk 
management and internal control; we will continue to enlarge our service platform with 
innovative products and services. we will increasingly focus on our strategic 
development, leadership enhancement, team building, and corporate culture practices. we 
will foster the business values one needs to be a market leader, to ensure a healthy, rapid 
and sustainable growth. 
on behalf of the management, i would like to take this opportunity to express our sincere 
gratitude to the board of directors and board of supervisors for the guidance and 
assistance; to the community at large for the trust and support; and to all our colleagues at 
home and abroad for the invaluable contributions. i firmly believe that with our concerted 
efforts, relentless drive, and continued pursuit of excellence, bank of china can look 
forward to a bright future. 
li lihui 
president 
22 march 2007 

18 
management discussion and analysis 
an outline of management discussion and analysis 
title main content 
economic, financial and 
regulatory environment 
an review of the macro economy and finance 
environment in 2006 
finance review an analysis of operational performance and financial 
status from the perspective of accounting in the year of 
2006 
business review description of the bank’s strategic position, 
comprehensive situation, operational performance and 
outlook of the crucial businesses of boc. it also briefly 
reviews the operation of the important 
subsidiaries-----bochk, boci and bocg investment 
limited. 
risk management the organization chart, objectives and strategies of risk 
management of the bank. also includes summaries of 
credit risk, market risk, liquidity risk and operational risk. 
capital management and 
funding transfer pricing 
a description of the objective, measures, effectiveness 
and the application of funding transfer pricing and 
transfer mechanism. 
organizational 
information, human 
resources management 
and development 
a review of the process integration and organization 
restructuring, human resources management, talents 
development and corporate culture building. 
cooperation with strategic 
investors 
the bank’s cooperation with strategic investors in 
business lines and managements 
corporate honors and 
responsibilities 
a review of bank of china’s participation in charity and 
community activities and the honors received. 

19 
economic and financial environment 
in 2006, the global economy achieved robust growth. according to the imf, the global 
economy grew 5.1%, the second highest level of growth in 30 years. the chinese 
economy continued to maintain its trend of steady expansion, with its gdp growing at 
10.7%, the highest growth in 11 years. foreign trade continued to grow rapidly. in 2006, 
china’s foreign trade volume reached usd 1,760.7 billion, up 23.8% year-on-year, with 
trade surplus hitting another record high of usd 177.5 billion. 
the international financial market developed strongly in 2006. the year witnessed the 
hikes and fluctuations in the prices for commodities such as oil and gold, the increases of 
interest rate in many major countries and booming capital markets, and great 
development were achieved in the international banking industry. 
in 2006, china’s financial market continued to run smoothly and actively as a whole. the 
exchange rate of rmb against usd has become more elastic with a cumulative 
appreciation of about 3.35% in 2006. to prevent investment from overheating and 
strengthen liquidity management, the central bank adjusted deposit and loan rate twice, 
raised deposit reserve ratio three times and issued targeted notes four times. in 2006, m2, 
rmb loans and rmb deposits by financial institutions increased by 16.9%, 15.1% and 
16.8% respectively. the scale of stock market expanded markedly with a total capital 
raised reaching rmb 220.4 billion and the ratio of its market capitalization to gdp rising 
to 43.3% at year-end. bond issuance and trading volume in the bond market were strong, 
with total raised capital amounting to rmb 5676.6 billion and its market value to gdp 
ratio going up to 44.8% at year-end. 
the reform and opening-up of china’s banking sector made steady progress. bank of 
china and industrial and commercial bank of china were successfully listed in shanghai 
and hong kong in 2006, setting new global ipo record successively. china fulfilled its 
wto commitment by fully opening up to foreign banks on december 11, 2006, 
embracing a brand new environment, in which chinese and foreign banks are to compete 
20 
fairly and develop jointly. by the end of the year, 29 foreign institutions investors had 
invested in 21 chinese banking institutions. the number of foreign banks’ branches 
continued to increase and inter-bank competition tended to be intensified continuously. 
according to estimates of imf, the global economy is expected to maintain a high growth 
of 4.9% in 2007. however, risk is also increasing at the same time, mainly owing to a 
persistent broadening in the global imbalance, the unabated rise of global surplus 
liquidity, a possible slow-down of us economy and shocks in capital markets after 
reaching new highs. 
china’s economy is expected to maintain a fast growth rate of around 8%, with the rmb 
exchange rate appreciating slowly and steadily, the capital market will grow deeper and 
broader, while competition among banks grow fiercer. in the meanwhile, government is 
expected to continue its stable and sound fiscal and financial policies, strengthen 
macro-economic control, putting emphasis on limiting the scale of credit as well as fixed 
asset investment, promoting gross economic balance by improving economic structure, 
and providing guidance and bringing discipline to economic behavior by adopting more 
economic measures and legal methods. 

21 
chart 1：global and chinese gdp growth since 2003 
0
2
4
6
8 
10 
12 
2003 2004 2005 2006 global economic growth rate (%) 
china's economic growth rate（%） 
charter 2：rmb exchange rate trend since foreign exchange reform 
770 
820 
870 
920 
970 
1020 
jul-05 oct-05 jan-06 apr-06 jul-06 sep-06 dec-06 
6.3 
6.5 
6.7 
6.9 
7.1 
7.3 
7.5 
usd/rmb euro/rmb jpy/rmb 
rmb 
against 
japan 
yen 
rmb 
against 
usd 
& 
eur. 
22 
chart 3：interest rate of major countries or regions, 2006 
1.00 
2.00 
3.00 
4.00 
5.00 
6.00 
7.00 
jan feb mar apr may jun jul aug sep oct nov dec 
us federal funds ecb refinancing rate 
rmb 1-yr deposit rate hk discount window base rate 
chart 4：m1 and m2 growth in china, 2006 
0
5 
10 
15 
20 
25 
jan feb mar apr may jun jul aug sep oct nov dec 
m1 growth rate（%） m2 growth rate（%） 

23 
chart 5：growth of total loans of financial institutions, 2003-2006 
0 
50000 
100000 
150000 
200000 
250000 
300000 
2003 2004 2005 2006 
0
5
10 
15 
20 
25 
total loans of financial institutions（rmb 100 million） growth rate（%） 
chart 6：domestic financing structure of non-financial institutions dept., 2003-2006 
0.00 
0.50 
1.00 
1.50 
2.00 
2.50 
3.00 
3.50 
4.00 
rmb triillion 
2003 2004 2005 2006 
loans securities national bonds corporate bonds 

24 
financial review 
summary of financial position and results of operations of the 
group for 2006 
profit after tax 
for 2006, the group earned a profit after tax of rmb47.2 billion, an increase of 
rmb14.6 billion (44.65%) compared to the prior year. profit attributable to the equity 
holders of the bank amounted to rmb41.9 billion, an increase of rmb14.4 billion 
(52.38%). these results exceeded the objectives in the budget approved by the bank’s 
shareholders and the profit forecast developed in connection with the bank’s initial 
public offering (“ipo”) of its ordinary shares. the substantial improvement in profit after 
tax for the year was attributable to robust growth in operating income, improved 
operating efficiency, effective management of credit costs, and a decrease in the effective 
tax rate. 
earnings per share 
in 2006, the weighted average earnings per share of the bank was rmb0.18, an increase 
of rmb0.03 compared to the prior year. the capital raised in connection with the bank’s 
ipo in 2006, and the related listing of its ordinary shares on both the hong kong and 
shanghai markets, further increased the bank’s capital base and ordinary shares 
outstanding. benefiting from the group’s strong profits, the weighted average earnings 
per share increased compared to the prior year. 
roa & roe 
during 2006, return on total assets was 0.94%, the highest level among the last four years, 
representing an increase of 0.22 percentage points compared to the prior year. return on 
owners’ equity excluding minority interests and including minority interests were 13.47% 
and 13.86% respectively, representing an increase of 0.95 percentage points and 0.70 
percentage points respectively. 
25 
revenue growth 
the group achieved operating income of rmb137.6 billion, an increase of rmb21.6 
billion (18.62%) compared to the prior year. this increase was primarily due to the 
continued increase in the average balances of loans and investment securities, as well as 
an increase in average yields. at the same time, the group intensified its focus on 
developing fee-based businesses, and there was continued improvement in net fee and 
commission income. please refer to the “net interest income” and “non-interest income” 
sections for more detailed information. 
non-interest income to operating income 
the group recognized non-interest income of rmb16.9 billion in 2006, an increase of 
rmb1.3 billion (8.31%) compared to the prior year. the ratio of non-interest income to 
operating income was 12.29%, a decrease of 1.17 percentage points compared to the prior 
year. excluding the effect of loss from revaluation of foreign currency positions, this ratio 
was 18.14%, an increase of 1.27 percentage points. 
cost to income ratio 
the cost to income ratio was 38.96%, a decrease of 0.34 percentage points compared to 
the prior year, the lowest among the past four years. this decrease was mainly due to the 
vigorous control of operating costs, as well as the robust growth in operating income. 
please refer to the "operating expenses and others" section for more detailed information. 
credit cost 
the credit cost for year 2006 was 0.50%, keeping sustained compared to the prior year. 
while the group has increased the size of its loan portfolio in recent years, credit costs 
have been maintained at a relatively low level. improvement in asset quality, resulting 
from continuous improvements in the group’s credit risk management processes, and 
diligent efforts directed at disposing of non-performing assets contributed significantly to 
the group’s ability to control credit costs. please refer to the “impairment loss” and “risk 
management” sections for more detailed information. 
26 
non-performing loans 
at the end of year 2006, non-performing loans totaled rmb 98.2 billion, a decrease of 
rmb 5.0 billion compared to the end of 2005. non-performing loan ratio was 4.04%, a 
decrease of 0.58 percentage points compared to the end of 2005. the group achieved its 
“dual decrease” objective of reducing both non-performing loans and the non-performing 
loan ratio. please refer to the "risk management" section for more detailed information. 
allowance for loan impairment losses 
at the end of 2006, allowance for loan impairment losses was rmb 94.3 billion, an 
increase of rmb 11.1 billion compared to the end of 2005. provision coverage ratio was 
96%, an increase of 15.45 percentage points compared to the end of 2005. please refer to 
the "risk management" section for more detailed information. 
capital adequacy ratio 
at the end of 2006, the group’s capital adequacy ratio was 13.59% and its core capital 
adequacy ratio was 11.44%, representing increases of 3.17 percentage points and 3.36 
percentage points, respectively, compared to those at the prior year-end. these ratios 
were the highest levels in recent years. this increase is primarily due to the significant 
core capital raised through the ipo and the decrease in the group’s net foreign currency 
exposure, which reduces the related market risk capital requirement. please refer to the 
“capital management” section for more detailed information. 
income statement analysis 
major items in income statement are as follows: 
unit：rmb million 
items 2006 2005 2004 2003 
net interest income 120,707 100,405 84,985 71,904 
non-interest income 16,921 15,623 19,752 20,935 
operating and administrative 
expenses (53,614) (45,604) (41,915) (34,041)
27 
operating profit 77,552 64,744 57,841 54,826 
impairment losses (11,587) (10,985) (23,797) (16,432) 
profit before tax 67,009 55,140 34,576 38,573 
income tax (19,857) (22,543) (9,330) (6,676) 
profit after tax 47,152 32,597 25,246 31,897 
minority interests (5,260) (5,105) (4,314) (3,190) 
net profit 41,892 27,492 20,932 28,707 
notes: net gains of rmb 7.154 billion on the disposal of bochk shares were included in 
non-interest income in year 2003. 
net interest income 
in 2006, the group’s net interest income was rmb120.707 billion, an increase of 
rmb20.302 billion (20.22%) compared to the prior year. 
net interest income is affected by the average balances and average interest rates of 
interest-earning assets and interest-bearing liabilities. domestically, interest rates related 
to interest-earning assets and interest-bearing liabilities are largely influenced by the 
benchmark interest rates and interest rate policy established by the people’s bank of 
china (“pboc”). significantly, the pboc establishes floors benchmark interest rates for 
loans and ceilings benchmark interest rates for deposits denominated in rmb offered by 
domestic banks. within the context of the framework established by the pboc, the 
average interest rates of interest-earning assets and interest-bearing liabilities of the 
domestic operations are also influenced by other factors such as chinese macro-economic 
changes, domestic competition, currency market liquidity and so on. overseas rates are 
largely a function of foreign currency interest rate, local economic environment, financial 
market conditions and related fiscal policies. 
the average balances and average interest rates 1 of interest-earning assets and 
interest-bearing liabilities related to the group’s, domestic rmb and foreign currency 
activities are shown in the following tables: 
1 average balances of interest-earning assets and interest-bearing liabilities are the average daily balance derived from 
28 
2006 2005 
items 
average 
balance 
average 
interest rate 
(%) 
average 
balance 
average 
interest rate 
(%) 
the group (unit: rmb million, other than the percentage) 
interest-earning assets 
loans and advances to customers 2,352,262 5.45% 2,192,058 5.00% 
debt securities 1,883,760 3.57% 1,475,673 3.05% 
due from and placements with banks and other 
financial institutions and due from central banks 710,323 2.70% 655,359 1.94% 
sub-total 4,946,345 4.34% 4,323,090 3.87% 
interest-bearing liabilities 
deposits from customers 4,070,308 1.96% 3,560,014 1.57% 
due to and placements from banks and other 
financial institutions and due to central banks 373,811 2.51% 355,856 1.83% 
special purpose borrowings and bonds issued 109,910 4.21% 115,843 3.90% 
sub-total 4,554,029 2.06% 4,031,713 1.66% 
net interest spread 2.28% 2.21% 
domestic rmb activities (unit: rmb million, other than the percentage) 
interest-earning assets 
loans and advances to customers 1,604,412 5.40% 1,443,512 5.40% 
debt securities 906,469 2.35% 656,983 2.41% 
due from and placements with banks and other 
financial institutions and due from central banks 350,694 1.81% 313,591 1.66% 
sub-total 2,861,575 3.99% 2,414,086 4.10% 
interest-bearing liabilities 
deposits from customers 2,792,952 1.57% 2,332,869 1.52% 
due to and placements from banks and other 
financial institutions and due to central banks 176,661 2.14% 152,810 2.47% 
special purpose borrowings and bonds issued 60,001 4.62% 53,959 4.71% 
sub-total 3,029,614 1.67% 2,539,638 1.65% 
net interest spread 2.32% 2.45% 
domestic foreign currency activities (unit: usd million, other than the percentage) 
interest-earning assets 
loans and advances to cutomers 40,535 5.22% 41,770 4.01% 
debt securities 77,046 4.75% 60,367 3.52% 
due from and placements with banks and other 
financial institutions and due from central banks 27,691 2.87% 26,348 1.74% 
sub-total 145,272 4.52% 128,485 3.31% 
interest-bearing liabilities 
deposits from customers 59,288 1.98% 58,903 1.16% 
due to and placements from banks and other 19,465 2.50% 20,467 1.03% 
the group’s management accounts which have not been audited. 
29 
financial institutions and due to central banks 
special purpose borrowings and bonds issued 6,391 3.65% 7,361 3.27% 
sub-total 85,144 2.22% 86,731 1.31% 
net interest spread (%) 2.30% 2.00% 
the impact of volume and interest rate2 changes on consolidated net interest income, that 
of domestic rmb activities and that of domestic foreign currency activities are 
summarized in the following table: 
items 2006 2005 change 
net interest income analysis 
volume interest rate 
the group (unit: rmb million) 
interest-earning assets 
loans and advances to customers 128,270 109,711 18,559 8,010 10,549 
debt securities 67,195 44,938 22,257 12,447 9,810 
due from and placements with banks and other financial 
institutions and due from central banks 19,205 12,696 6,509 1,066 5,443 
sub-total 214,670 167,345 47,325 21,523 25,802 
interest-bearing liabilities 
deposits from customers 79,939 55,914 24,025 8,012 16,013 
due to and placements from banks and other financial 
institutions and due to central banks 9,393 6,512 2,881 329 2,552 
special purpose borrowings and bonds issued 4,631 4,514 117 (231) 348 
sub-total 93,963 66,940 27,023 8,110 18,913 
net interest income 120,707 100,405 20,302 13,413 6,889 
domestic rmb activities (unit: rmb million) 
interest-earning assets 
loans 86,589 77,903 8,686 8,689 (3) 
debt securities 21,274 15,852 5,422 6,013 (591) 
due from and placements with banks and other financial 
institutions and due from central banks 6,346 5,197 1,149 616 533 
sub-total 114,209 98,952 15,257 15,318 (61) 
interest-bearing liabilities 
deposits from customers 43,967 35,495 8,472 6,993 1,479 
2 impact of volume changes on interest income and expenses is calculated based on the changes in average balances of 
interest-earning assets and interest-bearing liabilities during the reporting period. impact of interest rate changes on 
interest income and expenses is computed based on the changes in the average interest rates of interest-earning assets 
and interest-bearing liabilities during the reporting period. changes caused by changes in both volume and rate have 
been allocated to rate. 
30 
due to and placements from banks and other financial 
institutions and due to central banks 3,773 3,782 (9) 589 (598) 
special purpose borrowings and bonds issued 2,774 2,543 231 285 (54) 
sub-total 50,514 41,820 8,694 7,867 (827) 
net interest income 63,695 57,132 6,563 7,451 (888) 
domestic foreign currency activities (unit: usd million) 
interest-earning assets 
loans 2,116 1,675 441 (50) 491 
debt securities 3,658 2,123 1,535 587 948 
due from and placements with banks and other financial 
institutions and due from central banks 794 458 336 23 313 
sub-total 6,568 4,256 2,312 560 1,752 
interest-bearing liabilities 
deposits from customers 1,173 682 491 4 487 
due to and placements from banks and other financial 
institutions and due to central banks 486 211 275 (10) 285 
special purpose borrowings and bonds issued 233 241 (8) (32) 24 
sub-total 1,892 1,134 758 (38) 796 
net interest income 4,676 3,122 1,554 598 956 
interest income 
the group’s interest income was rmb214.670 billion, an increase of rmb47.325 billion 
(28.28%) compared to the prior year. this increase was primarily attributable to the 
growth in the average balance as well as the average yield of interest-earning assets. in 
this regard, the average balance of interest-earning assets increased by 14.42% and 
reached rmb4,946.345 billion. the consolidated yield on interest-earning assets 
increased 47 basis points during 2006 to 4.34%. 
loans and advances to customers 
the group’s interest income earned on loans was rmb128.270 billion, an increase of 
rmb18.559 billion (16.92%) as compared to the prior year. this increase reflects the 
judicious increase in loan balances during the year and an increase in both domestic and 
foreign currency yields. after cautiously taking risk and reward in consideration, the 
group’s average balance of loans and advances to customers reached rmb2,352.262 
billion, representing an increase of 7.31% compared to the prior year. continued 
31 
increases in foreign currency yields (in particular the usd), the pboc’s increases in the 
rmb loan benchmark rate in april and august of 2006 pushed, the combined yield on 
overseas and domestic loans to 5.45%, an increase of 45 basis points. 
debt securities 
the group’s interest income earned on debt securities was rmb67.195 billion, an 
increase of rmb 22.257 billion (49.53%) compared to the prior year. the growth was 
largely attributable to an intense focus on optimizing the mix of the group’s investment 
portfolio, including the ipo proceeds, in higher yielding securities. this deployment of 
excess liquidity resulted in an increase of 27.65% in the average balance of debt 
securities during the year to rmb1, 883.760 billion. the group has also continued to 
proactively manage the composition of its debt securities portfolio, taking into 
consideration continuing increases in the yields on securities denominated in foreign 
currencies, in particular the usd. the average yield of debt securities increased 52 basis 
points to 3.57% during the year. 
the average yield of debt securities denominated in rmb was 2.35%, a decline of 6 basis 
points compared to the prior year. the decline was primarily attributable to the surplus 
liquidity in the rmb financial markets, pushing down the yields on rmb securities. as 
illustrated in the chart below, the yield of one year pboc bills decreased steadily from 
2004, although the decline stabilized and began to rise from the third quarter of 2005. 
this effect was fully reflected in the bank’s earnings in 2006. 
32 
the yield of pboc bills ( one year) 
1.1030 
1.6030 
2.1030 
2.6030 
3.1030 
3.6030 
2004-9-30 2005-3-30 2005-9-30 2006-3-30 2006-9-30 
due from and placements with banks and other financial institutions and due 
from central banks 
the group’s interest income derived from due from banks and other financial institutions 
and due from central banks rose rmb6.509 billion (51.27%) to rmb19.205 billion. the 
increase was primarily due to the growth in customer deposits, a series of increases by the 
pboc in deposit reserve requirements during the year from 7.5% to 9.0%, and continued 
increases in overseas interest rates. the average yield on items due from banks and other 
financial institutions and due from the central bank increased by 76 basis points during 
2006 to 2.70%. 
the group continues its efforts to minimize the relative balance of this lower yielding 
asset class. at the end of 2006, the ratio of the average balance of items due from banks 
and other financial institutions to that of total interest-earning assets declined from 15.0% 
to 14.0%, or 1.0 percentage point compared to the prior year. 
interest expense 
the group’s interest expense was rmb93.963 billion, an increase of rmb27.023 billion 
(40.37%) compared to the prior year. this increase was principally attributable to a 
33 
12.96% growth in the average balance of interest-bearing liabilities to rmb 4,554.029 
billion, as well as a 40 basis points increase in the average cost to 2.06%. 
deposits from customer 
in 2006, the group’s interest expense for customer deposits was rmb79.939 billion, 
representing an increase of rmb24.025 billion (42.97%) compared to the prior year. the 
increase was primarily due to the group’s concerted efforts to expand its rmb customer 
deposit base, with the average balance of customer deposits increasing to rmb 4,070.308 
billion, an increase of 14.33% during the year and a rise of 39 basis points in the average 
cost on customer deposits to 1.96%. this increase in average cost was mainly attributable 
to: the continued rise in foreign interest rates, particularly usd interest rates; the effect of 
the pboc’s five upward adjustments of the benchmark interest rate for smaller balance 
foreign currency deposit during 2005, which was fully reflected during 2006; the pboc’s 
increase of the benchmark interest rate for rmb deposits in august 2006; and a rise in 
the proportion of fixed deposits in overseas operations to total deposits. 
due to and placements from banks and other financial institutions and due to 
central banks 
the group’s interest expense for items due to banks and other financial institutions and 
due to central banks was rmb9.393 billion, an increase of rmb2.881 billion (44.24%) 
compared to the prior year. the increase was primarily due to the interest rate increases 
related to major foreign currencies, particularly the usd, which resulted in a rise of 68 
basis points on the average yield and to 2.51%. 
the average interest rate of items due to banks and other financial institutions and due to 
the central bank denominated in rmb was 2.14%, a decrease of 33 basis points. during 
the year, the group intensified its efforts at proactive liability management to minimize 
the balance of this relatively high yielding class of interest-bearing liabilities. 
special purpose borrowings and bonds issued 
34 
the group’s net interest margin 
(%) 
2.03 
2.15 
2.32 
2.44 
2003 2004 2005 2006 
special purpose borrowings are long-term borrowings in multiple currencies from foreign 
governments and/or banks in the form of export credit loans, foreign government loans 
and other subsidized loans. these special purpose loans are normally used to finance 
projects with special commercial purposes in prc. the group’s interest expense for 
special purpose borrowings and bonds issued was rmb4.631 billion, an increase of 
rmb0.117 billion (2.59%) compared to the prior year. the increase was mainly due to 
the rise in interest rates of major foreign currencies, in particular the usd. the average 
interest rate of special purpose borrowings and bonds issued rose 31 basis points during 
the year to 4.21%. 
net interest margin 
during 2006, the group continued to improve the 
effectiveness of its asset and liability management, 
successfully reducing the proportions of relative low 
yielding assets to total assets and relative high cost 
liabilities to total liabilities. due to continued increases in 
the interest rates of the major foreign currencies, in 
particular the usd, and the continued use of rmb/usd 
swap transactions, the group’s net interest margin rose by 
12 basis points to 2.44%. rmb and foreign currency net 
interest margins of domestic operations, however, have experienced opposite trends. 
net interest margin (%) 2006 2005 2004 2003 
domestic operations: foreign currency business 3.22 2.43 1.41 1.55 
domestic operations: rmb business 2.23 2.37 2.72 2.38 
foreign currency net interest margin the group’s foreign currency net interest margin 
rose 79 basis points to 3.22%. the group entered into rmb/usd currency swap 
transactions attributable to its more active approach to its asset and liability management, 
the surplus liquidity in the market and the lack of rmb investment alternatives. these 
35 
swap transactions resulted in the group’s earning additional usd interest income. the 
related swap costs were recognized under “net trading (losses)/gain”. and the change of 
net interest margin was also attributable to the continued increase in overseas interest 
rates, particularly usd. 
rmb net interest margin although the pboc’s adjustments to the benchmark rates in 
rmb loans and deposits in 2006 had a positive impact on rmb net interest income, the 
rmb net interest margin narrowed compared to the prior year. the decline was primarily 
attributable to the changes in the domestic macro-economic environment and intensified 
competition in prc capital markets led to a decline in the average yield of rmb debt 
securities and discounted bills compared to the prior year, and at the same time, the 
proportion of the average balance of such items to interest-earning assets denominated in 
rmb increased, which led to the average interest rate of interest-earning assets 
denominated in rmb declined from last year’s 4.10% to this year’s 3.99%. as aforesaid, 
the bank entered into rmb/usd swap transactions to improve the income, but these 
swap transactions will result in a decline in rmb interest income. 
non-interest income 
unit: rmb million 
2006 2005 2004 2003 
net fee and commission 
income 
14,323 9,247 8,557 7,353 
net trading (losses)/income 
(3,779) 4,482 8,752 4,456 
investment gains/ (losses) 
3,831 （248） 1,078 8,413 
other operating income, net 
2,546 2,142 1,365 713 
total 16,921 15,623 19,752 20,935 
note: net gains of rmb 7.154 billion on the disposal of bochk shares were included in other 
operating income in year 2003. 
the group reported non-interest income of rmb 16.921 billion, an increase of rmb 
1.298 billion (8.31%) compared to the prior year. non-interest income accounted for 
12.29% of total operating income, down 1.17 percentage points. excluding the impact of 
translation losses related to the group’s net foreign currency exposure, this ratio was 
18.14%, an increase of 1.27 percentage points. 
36 
net fee and commission income 
through its global network, the group provides its customers with a variety of fee-based 
products, including agency services, settlement and clearing, credit commitment, bank 
cards, fiduciary and other custodian services. the group improved its product mix, not 
only to generate consistent revenue growth, but also to deepen and strengthen its client 
relationships by providing more diversified financial services to address a more diverse 
set of customer needs. 
the group earned net fee and commission income of rmb 14.323 billion in 2006, an 
increase of rmb5.076 billion (54.89%) compared to the prior year. the principal 
elements are set out in the table below: 
unit: rmb million 
2006 2005 2004 2003 
agency commission 4,621 2,735 2,690 2,137 
settlement and clearing fees 3,848 2,941 2,626 2,237 
credit commitment fees and 
commissions 3,064 2,693 2,367 2,075 
bank card fees 2,937 2,340 1,840 1,340 
custodian and other service fees 2,669 1,989 1,865 1,779 
fee and commission income 17,139 12,698 11,388 9,568 
fee and commission expense (2,816) (3,451) (2,831) (2,215) 
fee and commission, net 14,323 9,247 8,557 7,353 
the net fee and commission income from the domestic operations accounted for a 
significant proportion to the net fee and commission of the group. in 2006, the net fee 
and commission from the domestic operations was rmb 8.629 billion, with an increase 
of rmb3.422 billion or 65.72% compared to the prior year. the principal components of 
the net fee and commission income from the domestic operations are shown in the 
following table: 
unit: rmb million 
domestic operations 2006 2005 2004 2003 
agency commission 1,406 823 647 425 
settlement and clearing fees 2,402 1,745 1,681 1,395 
credit commitments fees and commissions 2,164 1,784 1,407 1,191 
bank card fees 2,080 1,540 1,095 776
37 
custodian and other service fees 1,541 1,112 654 532 
fee and commission income 9,593 7,004 5,484 4,319 
fee and commission expense (964) (1,797) (1,432) (1,128) 
fee and commission, net 8,629 5,207 4,052 3,191 
during 2006, the group launched a three-year plan to further develop and enhance its fee 
based services, in order to leverage its competitive advantage and reinforce its leading 
position in the domestic market. the key elements of this plan include: enhancement of 
the management and organization structure and deployment of adequate resources to 
more effectively support the delivery of fee-based products and services, principally 
through objective-based performance evaluation and remuneration, a reinvigorated focus 
on new product development, with particular emphasis on the areas of international and 
trade finance, wealth management products, services for qualified domestic institutional 
investors, and bank cards, improvement of communications among various business and 
functional departments, including product management departments and the front line 
departments, domestic and overseas operations, commercial banking, investment banking 
and insurance operations, to promote efficient service and cross-selling; further 
strengthening of pricing strategy including revision and broadening of new fee based 
services. 
agency commissions 
the group recorded agency commission income of rmb 4.621 billion in 2006, an 
increase of rmb1.886 billion (68.96%) compared to the prior year. the rapid growth of 
the domestic chinese economy, including robust increase in household disposable 
income levels, and the rapidly growing securities markets, both domestically and in hong 
kong sar, contributed to the increase in the demand for agency services related to 
mutual funds distribution, placement of insurance products and securities brokerage. the 
increase in agency commission income significantly contributed to the increase in 
fee-based income during 2006. 
settlement and clearing fees 
the group recorded settlement and clearing fees of rmb 3.848 billion, representing an 
increase of rmb0.907 billion (30.84%) compared to the prior year. the increase was 
38 
primarily attributable to strong demand for trade related clearing and settlement services. 
furthermore, the bank successfully launched the first phase of its new core payments 
system, which provides an efficient platform for customers to initiate remittance 
transactions, contributing to a robust increase in transaction volume and fee income 
domestically. 
credit commitment and commission fees 
credit commitment and commission fees include fees from credit guarantees, fees in 
connection with on-lending loans and syndicated loan transactions. total credit 
commitment fees were rmb 3.064 billion, an increase of rmb0.371 billion (13.78%) 
compared to the prior year. the increase was primarily attributable to the continued 
growth of the group’s trade finance business, which led to the increase of fee from letters 
of guarantee and syndicated loans business. 
bank cards fees 
bank cards fees, consisting of annual fees, cash advance fees, transaction fees and 
merchant service fees. in 2006, bank cards fees for the group were rmb2.937 billion, an 
increase of rmb 0.597 billion (25.51%) compared to the prior year. during 2006, the 
group launched a number of new bank card programs domestically, including the 
“metropolitan boc card”, the “great wall business card” and the “lianming card”, 
which permits instalment payments. the steady increase in bank card fees reflected 
increases in both the number and usage volume of bank cards. in addition to these 
increases in volume, the levy of a fee on all domestic debit cards resulted in an increase 
of rmb 214 million domestically during 2006. 
custodian and other service fees 
custodian and other service fees consisted primarily of fees from custody, financial 
consultancy and other fee-based services. these fees totalled rmb 2.669 billion, an 
increase of rmb0.680 billion (34.19%) compared to the prior year. this increase was 
39 
primarily attributable to charges on smaller balance personal accounts, which contributed 
rmb224 million to the increase, and the exploring and developing new fee sources such 
as corporate finance consultancy services. 
fee and commission expenses 
in 2006, the fee and commission expenses was rmb2.816 billion, a decrease of 
rmb0.635 billion (18.40%) compared to the prior year. the decrease related to a number 
of factors including a decrease of rmb 0.3 billion, related to a reduction in transaction 
fees charged by the shanghai foreign exchange trade centre for certain foreign 
exchange transactions and the payment of bond issuance of rmb0.13 billion and asset 
disposal fees of rmb0.16 billion to coamc in 2005 which did not recur in 2006. 
net trading (losses)/gains 
rmb million 
2006 2005 2004 2003 
net (losses)/gains from foreign exchange and foreign 
exchange products (2,204) 2,518 5,069 8,309 
net (losses)/gains from interest rate and other 
instruments (1,575) 1,964 3,683 (3,853) 
total (3,779) 4,482 8,752 4,456 
the group incurred a net trading loss of rmb3.779 billion in 2006. the loss arose 
principally from foreign exchange and foreign exchange products related to the continued 
appreciation of the rmb and revaluation losses arising from equity linked derivatives. 
net gains/losses from foreign exchange and foreign exchange products 
the group recognized net losses of rmb2.204 billion from foreign exchange and foreign 
exchange products during 2006. this loss reflects the net results of gains from foreign 
exchange transactions and losses from revaluation of foreign currency positions. 
gains from foreign exchange transactions 
the volume of the group’s foreign exchange transactions grew steadily during the year, 
40 
resulting in a gain of rmb7.616 billion. domestically, the spread income derived from 
rmb/foreign exchange transactions amounted to rmb 5.938 billion, an increase of 
rmb1.077 billion (22.16%) compared to the prior year. the increase was primarily 
attributable to the increase of the spread earned on rmb/foreign currency transactions 
compared to 2005. 
losses from revaluation of foreign currency positions 
the group reported a net loss of rmb9.82 billion which was attributable to its 
revaluation of its net foreign exchange positions in 2006. the composition of the group’s 
foreign exchange positions as of 31 december 2006 and the related revaluation gains and 
losses for the year are set out in the following table: 
net foreign currency position as at 
31 december 
2006 ① 
net gains/losses arising from the 
net foreign currency position 
reported in 2006 ① 
amount ount in usd million amount in rmb million 
on 
balance 
sheet 
off 
balance 
sheet 
total 
on 
balance 
sheet 
off 
balance 
sheet 
total 
1.net foreign currency position relating to huijin option 
(1) foreign exchange option with huijin - (18,000) 1,949 
(2) foreign currency capital injected economically hedged by the 
huijin option 18,000 - 
- 
(4,707) 
(2,758) 
2.net foreign currency position relating to swap agreements 
(1) spot transactions under foreign currency swap agreements 41,528 - (6,730) - 
(2) forward transactions under foreign currency swap agreements - (41,528) 
- 
- 2,222 
(4,508) 
3. structural position in foreign operations② 14,146 14,146 
4. other foreign currency position 11,627 4,109 15,736 (2,773) 219 (2,554) 
total 85,301 (55,419) 29,882 (14,210) 4,390 (9,820) 
less：structural position in foreign operations ② (14,146) 
net foreign currency position 15,736 
① long and short positions of foreign currency are representing by positive and negative figures, 
respectively. 
gain and loss of revaluation and retranslation are representing by positive and negative figures, 
respectively. 
② translation losses related to the structural position of the group’s foreign operations are 
recognized as “currency translation differences“, a separate component of equity, which does not 
affect the consolidated profit and loss of the group. 

41 
the following explains the key components presented in the above table: 
1. net foreign currency position relating to huijin option 
on 5 january 2005, the bank entered into an option agreement with huijin (“huijin 
option”), to economically hedge a portion of its net foreign currency position arising from 
the foreign currency capital injection by huijin. according to the terms of the agreement, 
the bank acquired options to sell to huijin usd, totaling usd 18 billion, in tranches of 
no more than usd 1.5 billion each at the beginning of each calendar month from 1 
january to 31 december 2007 at a fixed exchange rate of usd 1 to rmb 8.2769. the 
related option premium of rmb 4.469 billion is payable by the bank to huijin in 12 
equal monthly installments beginning from 1 january 2007. the gain from the change in 
the fair value of the huijin option for 2006 amounted to rmb1.949 billion, which 
partially offset the rmb 4.707 billion foreign exchange revaluation loss of the related 
on-balance sheet foreign currency exposure. 
2. net foreign currency position relating to swap agreements 
considering the surplus liquidity in the rmb capital markets, the lack of investment 
alternatives, and the favorable interest yields of foreign currency denominated financial 
assets, the bank entered into a series of usd/rmb swap transactions to increase its 
income through investment in additional usd denominated financial assets. under these 
agreements, the bank bought usd in spot transactions and invested the funds in financial 
assets denominated in foreign currency to benefit from the favorable interest differentials, 
and bought back the rmb in the future at agreed exchange rates to effectively mitigate 
the group’s foreign currency risks. the swap transactions had no impact on the group’s 
net foreign currency position. as of 31 december 2006, the outstanding notional amount 
of these transactions amounted to usd 41.5 billion. 
in 2006, the foreign exchange revaluation loss related to the usd currency positions 
through these spot transactions was rmb6.730 billion, partially offset by the revaluation 
gain of rmb 2.222 billion on the forward sales of usd. this net loss of rmb4.508 
billion was reported as a component of “net trading (losses)/gains”, contributing to the 
42 
significant decrease in 2006. the beneficial effect of the favorable rate differential on 
usd financial assets, however, was reported as a component of “net interest income”. 
please refer to the “cost/benefits discussion” below for more detailed information. 
3. other foreign currency positions 
as of 31 december 2006, other net foreign currency position of the group amounted to 
usd 15.7 billion which included a usd11.6 billion on-balance sheet position and a 
usd4.1 billion off-balance sheet position. the on-balance sheet position comprised 
primarily the unhedged portion of foreign currency capital contribution, foreign currency 
profits, foreign currency position retained for daily operation purposes. 
during 2006, the foreign currency proceeds from the ipo and the foreign currency profits 
increased the group’s foreign currency position. however, the bank sold approximately 
usd 26.3 billion to the pboc following the approval from the relevant authorities. as a 
result, the group reduced its net foreign currency position from usd 25.9 billion at 31 
december 2005 to usd 15.7 billion at 31 december 2006. please see note 9 to the 
financial statements for detailed information on the movements of the group’s foreign 
currency position. in 2006, the net loss arising from this other net foreign currency 
position recognized was rmb 2.554 billion, which was lower than that in 2005. 
the group will continue to actively manage its net foreign currency position in 2007. it is 
anticipated that the net foreign currency exposure will continue to decrease. 
cost/benefits discussion 
the bank realized a foreign currency revaluation loss of rmb 9.820 billion from its 
foreign currency position during 2006. however, it has benefited from the favorable 
interest differentials between foreign currency and rmb financial assets discussed above. 
by way of example, the average yield of our foreign currency denominated debt 
securities was 4.75%, which was higher than the average yield of 2.35% for rmb 
denominated debt securities, leading to a difference in yield of 2.40%. management 
believes that the benefits from favorable interest differentials were greater than the 
43 
foreign exchange revaluation loss aforesaid. 
net gains/losses from interest rate and other instruments 
net trading income from interest rate and other instruments comprised primarily 
gains/losses from disposal and changes in the fair value of trading securities, changes in 
fair value of interest rate derivatives and equity linked derivatives. in 2006, the group 
reported a net gain of rmb 0.492 billion from trading in interest rate instruments. 
however, the equity linked derivatives and others reported a net loss of rmb2.067 
billion. however, the equity linked derivatives and others reported a net loss of rmb 
2.067 billion, which was mainly attributable to bank of china international holdings 
limited (boci). boci had operations in trading equity securities and in this connection, 
it has established economic hedges using derivatives instruments for its trading in equity 
investment. the gain and loss arising from dealing in equity and fair value changes of 
equity investment held for trading are recognized in investment gain/losses. 
investment gains/(losses) 
the group reported an investment gain of rmb 3.831 billion in 2006, representing an 
increase of rmb 4.079 billion compared to the prior year. the increase primarily due to: 
a gain of rmb 2.3 billion on trading investment valuation and transactions reported by 
boc international (the associated loss on hedging derivatives was reported in “net 
trading (losses)/gains” in the income statement), an increased gain of approximately 
rmb1.1 billion on disposal of zhuhai nantong bank and some other investment project, 
and an increased gain of approximately rmb0.5 billion from investment in associates 
under the equity method of accounting. 
other operating income, net 
unit: rmb million 
2006 2005 2004 2003 
other operating income 
insurance premiums 7,708 5,237 4,057 3,225 
other 2,623 1,380 1,268 758 
sub-total 10,331 6,617 5,325 3,983
44 
other operating expenses 
insurance claim expenses -7,484 -3,861 -2,928 -2,767 
other -301 -614 -1,032 -503 
sub-total -7,785 -4,475 -3,960 -3,270 
other operating income, net 2,546 2,142 1,365 713 
other operating income and expenses comprise mainly of insurance premiums and claim 
expenses. insurance premiums reported an increased of rmb 2.471 billion in 2006 
(47.18%) compared to the prior year. as the life insurance business grew rapidly in 2006, 
the provision for insurance claims set aside increased accordingly. as a result, insurance 
claim expenses rose 93.84% or rmb 3.623 billion at the same time. 
other operating income included gains on disposal of debt to equity swap amounting to 
rmb 1.309 billion and gains on disposal of loans to third party amounting to rmb 0.660 
billion. 
operating and administrative expenses 
unit: rmb million 
2006 2005 2004 2003 
staff costs 30,677 23,979 19,814 16,394 
general operating and administrative 
expenses 17,283 15,742 13,992 11,188 
depreciation 5,654 5,883 8,109 6,459 
total 53,614 45,604 41,915 34,041 
the group’s operating and administrative expenses increased 17.56% or rmb 8.010 
billion to rmb 53.614 billion compared to the prior year. 
staff costs rose to rmb 30.677 billion in 2006 by rmb 6.698 billion (27.93%) compared 
to the prior year. the increase in staff costs was mainly attributable to: an increase in 
domestic salary levels through the implementation of the new domestic salary system in 
2006, which assigned salary levels based on a consistent assessment of roles, 
responsibilities and market compensation levels, related increases for government 
mandated contributions, based on employee salary levels, to various employee welfare 
45 
programs, labor union, and training initiatives which accounted for 14%, 2%, and 1.5% 
respectively of the staff salary costs have also increased, increases in retirement costs 
related to contribution to the group’s defined contribution plan for domestic employees. 
see note v 35 to the financial statements for detailed information on staff costs. 
general operating and administrative expenses mainly comprised postal fee, marketing 
fee, utility fee, printing expenses, maintainance fee, offices, regulatory expenses and 
other professional fees. the general operating and administrative expenses were 
rmb17.283 billion, an increase of rmb 1.541 billion (9.79%) compared to the prior 
year, consistent with the growth in the group’s business activities. these expenses also 
included regulatory fees of rmb 0.992 billion paid to the china banking regulatory 
commission (cbrc), which increased rmb0.066 billion compared to the prior year. 
during 2006, the group intensified its focus on cost control and management and the 
growth in operating income outpaced that of the general operating and administrative 
expenses. in 2006, the cost to income ratio was 38.96% in 2006, down 0.34% percentage 
points compared to the prior year, indicating an improvement in the operating efficiency. 
impairment losses 
unit: rmb million 
2006 2005 2004 2003 
provision for loan losses 11,687 10,888 22,793 14,701 
provision for impairment of foreclosed assets 85 133 2,997 2,019 
(write-back of )/provison for impairment of other 
receivables (211) 498 (2,216) 178 
provision/(write-back of ) for impairment of fixed 
assets and others 26 (534) 223 (466) 
total 11,587 10,985 23,797 16,432 
non-performing loan and non-performing loan ratio decreased simultaneously in 2006, 
reflecting the improved credit quality of loans and advances. the group continued to 
adopt a prudent loan provisioning policy. impairment losses on loans and advances 
amounted to rmb11.687 billion in 2006, representing an increase of rmb 0.799 billion 
compared to the prior year. in 2006, the credit cost was 0.50% of total loans, almost the 
46 
same level as the prior year. for further information of the loan quality and the allowance 
for loan impairment losses, please refer to the “risk management-credit risk” section. 
income tax 
in 2006, the group’s income tax expense was rmb 19.857 billion, representing a 
decrease of rmb 2.686 billion (11.92%) compared to the prior year. the effective tax 
rate was 29.63%, representing a decrease of 11.25 percentage points compared to the 
prior year. the decrease in the effective tax rate was mainly due to the fact that pursuant 
to cai shui [2007] no. 40 "notice to bank of china limited on the deductible criterion 
relating to salary expenses" issued by the ministry of finance and state administration 
of taxation, the group has obtained the approval for deduction of rmb 15.669 billion of 
its domestic salary costs when determining the group’s 2006 taxable income, resulting in 
a decrease in tax expenses of rmb 4.6 billion for 2006. 
the reconciliation of the statutory income tax rate to the effective income tax rate is set 
forth under note 38 of section v. to the financial statements. 
balance sheet analysis 
at the end of 2006, the group’s total assets were rmb 5,325.273 billion, an increase of 
rmb 582.467 billion (12.28%) compared to the prior year-end, and total liabilities were 
rmb 4,907.459 billion, an increase of rmb 427.273 billion (9.54%) compared to prior 
year-end. 
an analysis of significant balance sheet items is set out in the following table: 
unit: rmb million 
group 2006 2005 2004 2003 
assets 
loans 2,431,806 2,235,046 2,146,462 2,157,473 
debt securities3 1,879,418 1,669,591 1,309,479 1,092,187 
due from and placements with banks and other 787,471 661,478 631,727 700,659 
3 including trading assets and other financial instruments at fair value through profit or loss, available-for-sale 
securities, held-to-maturity securities, and securities classified as loans and receivables. 
47 
financial institutions, and due from central banks 
other assets 226,578 176,691 182,775 29,646 
total assets 5,325,273 4,742,806 4,270,443 3,979,965 
liabilities 
deposits from customers 4,095,422 3,703,777 3,342,477 3,035,956 
due to and placements from banks and other 
financial institutions, and central banks 363,755 375,288 318,443 327,673 
bonds issued and other borrowings 123,571 112,343 95,802 81,052 
other liabilities 324,711 288,778 280,983 305,808 
total liabilities 4,907,459 4,480,186 4,037,705 3,750,489 
loans 
loan was a key component of the group’s asset. at the end of 2006, the group had a 
total loan portfolio of rmb 2,431.806 billion, an increase of rmb 196.760 billion 
(8.80%) compared to the prior year-end. 
the quality of the group’s loan portfolio continued to improve during the year, with 
loans classified as special mention decreasing significantly, resulting in an increase in the 
percentage of higher quality loans. the group also continued to rebalance the mix of the 
loan portfolio to achieve higher yields by reducing the proportion of lower yielding trade 
bills in the loan portfolio. 
corporate loans and personal loans 
unit: rmb million 
2006 2005 2004 2003 
group balance % balance % balance % balance % 
corporate loans 1,849,062 76.04% 1,712,043 76.60% 1,652,421 76.98% 1,774,080 82.23% 
personal loans 582,744 23.96% 523,003 23.40% 494,041 23.02% 383,393 17.77% 
total 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
accrual and non-accrual loans and advances 
when either the principal or the interest receivable relating to loans becomes overdue for 
more than 90 days, such loans are classified as non-accrual loans. all other loans are 
48 
classified as accrual loans. 
unit: rmb million 
2006 2005 group 05 2004 2003 
balance % balance % balance % balance % 
accrual loans and 
advances 2,354,814 96.83% 2,158,232 96.56% 2,091,360 97.43% 1,863,714 86.38% 
non-accrual loans and 
advances 76,992 3.17% 76,814 3.44% 55,102 2.57% 293,759 13.62% 
total 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
for further information of the loan classes, the loan quality and the provision for loan 
losses, please refer to the “risk management-credit risk”section. 
debt securities 
the group held debt securities totaling rmb 1,879.418 billion at the end of 2006, an 
increase of rmb 209.827 billion (12.57%) compared to the prior year-end. there was no 
significant impairment in the debt securities. the classification of the group’s debt 
securities portfolio at 31 december 2006 is as follows: 
unit: rmb million 
group 2006 2005 2004 2003 
balance % balance % balance % balance % 
trading and other 
debt securities at 
fair value through 
profit or loss 
110,634 5.88% 107,271 6.42% 91,012 6.95% 114,557 10.49% 
available-for-sale 
securities 807,308 42.96% 593,010 35.53% 346,532 26.46% 410,140 37.55% 
held-to-maturity 
securities, net 461,140 24.54% 607,459 36.38% 457,994 34.98% 215,175 19.70% 
securities 
classified as loans 
and receivables, 
net 
500,336 26.62% 361,851 21.67% 413,941 31.61% 352,315 32.26% 
total 1,879,418 100.00% 1,669,591 100.00% 1,309,479 100.00% 1,092,187 100.00% 
the percentage of debt securities classified as available-for-sale and as loans and 
receivables both increased during the year, while the percentage classified as 
held-to-maturity securities declined significantly. the percentage of trading and other 
49 
debt securities at fair value through profit or loss maintained at similar level as prior year. 
the change in the classification mix of the debt securities portfolio principally related to 
the re-investment of funds received on the maturity of securities classified as 
held-to-maturity, into those classified as available-for-sale. similarly, the group increased 
its investment in securities with a shorter tenor, such as pboc bills and commercial 
papers denominated in foreign currency, in particular the usd. these changes provided 
the group with more flexibility in managing its portfolio to achieve higher yields. as a 
result, the percentage of securities classified as loans and receivable increased. 
debt securities by issuer type 
unit: rmb million 
group 2006 2005 2004 2003 
balance % balance % balance % balance % 
government 
bonds and 
government 
guaranteed bonds 
817,643 43.50% 794,413 47.58% 590,932 45.12% 430,903 39.43% 
financial 
institution bonds 610,738 32.50% 475,878 28.50% 359,503 27.45% 318,744 29.17% 
public sector and 
quasi government 
bonds 
263,333 14.01% 263,007 15.75% 274,983 21.00% 275,178 25.18% 
corporate bonds 187,856 9.99% 136,449 8.17% 84,253 6.43% 67,944 6.22% 
sub-total 1,879,570 100.00% 1,669,747 100.00% 1,309,671 100.00% 1,092,769 100.00% 
allowance for 
impairment losses (152） (156） (192) (582) 
total 1,879,418 1,669,591 1,309,479 1,092,187 
debt securities by currency 
unit: rmb million 
debt securities 2006 2005 
renminbi 875,220 834,407 
us dollar 703,112 562,128 
hong kong dollar 169,310 147,966 
others 131,776 125,090 
total 1,879,418 1,669,591 

50 
deposits from customers 
the group’s deposits from customers totaled rmb 4,095.422 billion at the end of 2006， 
an increase of rmb 391.645 billion (10.57%) compared to the prior year-end. of this 
increase, corporate and personal deposits increased by rmb 180.952 billion and rmb 
193.235 billion, respectively. 
customer deposits by customer type 
the following table sets forth the principal components of the group’s customer deposits 
by customer type: 
unit: rmb million 
2006 2005 group 05 2004 2003 
balance % balance % balance % balance % 
corporate deposits 
-demand deposit 979,653 23.92% 836,763 22.59% 776,648 23.24% 679,524 22.38% 
-time deposit less than 
one year 514,564 12.56% 486,681 13.14% 373,467 11.17% 312,585 10.30% 
-time deposit over one 
year 36,496 0.89% 26,317 0.71% 32,743 0.98% 20,182 0.66% 
sub-total 1,530,713 37.38% 1,349,761 36.44% 1,182,858 35.39% 1,012,291 33.34% 
personal deposits 
-demand deposit 770,583 18.82% 667,957 18.03% 697,028 20.85% 607,904 20.02% 
-time deposit less than 
one year 1,302,266 31.80% 1,243,964 33.59% 1,059,284 31.69% 1,066,069 35.11% 
-time deposit over one 
year 346,010 8.45% 313,703 8.47% 296,246 8.86% 260,874 8.59% 
sub-total 2,418,859 59.06% 2,225,624 60.09% 2,052,558 61.41% 1,934,847 63.73% 
securities and margin 
deposits 145,850 3.56% 128,392 3.47% 107,061 3.20% 88,818 2.93% 
total 4,095,422 100.00% 3,703,777 100.00% 3,342,477 100.00% 3,035,956 100.00% 
during 2006, the group continued to proactively manage its liability mix, while 
maintaining stable growth of deposits. in this regard, the proportion of generally 
low-interest bearing demand deposits, both corporate and personal, increased by 2.01 
percentage points and 1.85 percentage points during the year. 
the following table sets forth the principal components of the domestic operations’ 
customer deposits by customer type: 
51 
unit: rmb million 
2006 2005 chinese mainland 05 2004 2003 
balance % balance % balance % balance % 
corporate deposits 
-demand deposit 871,331 26.65% 734,140 25.08% 657,481 25.80% 574,029 25.08% 
-time deposit less than one year 384,294 11.75% 369,455 12.62% 263,920 10.36% 221,793 9.69% 
-time deposit over one year 35,723 1.09% 23,939 0.82% 19,515 0.77% 19,032 0.83% 
sub-total 1,291,348 39.49% 1,127,534 38.51% 940,916 36.92% 814,854 35.61% 
personal deposits 
-demand deposit 544,974 16.67% 470,508 16.07% 416,516 16.34% 351,875 15.38% 
-time deposit less than one year 955,536 29.22% 903,685 30.87% 804,928 31.58% 785,862 34.34% 
-time deposit over one year 340,136 10.40% 304,491 10.40% 286,832 11.25% 254,453 11.12% 
sub-total 1,840,646 56.29% 1,678,684 57.34% 1,508,276 59.18% 1,392,190 60.84% 
security and margin deposits 137,815 4.21% 121,344 4.14% 99,417 3.90% 81,310 3.55% 
total 3,269,809 100.00% 2,927,562 100.00%2,548,609 100.00% 2,288,354 100.00% 
customer deposits by geography 
the following table sets forth the principal components of the group’s deposits from 
customers by geography: 
unit: rmb million 
group 2006 2005 2004 2003 
balance % balance % balance % balance % 
chinese mainland 3,269,809 79.84% 2,927,562 79.04% 2,548,609 76.25% 2,288,354 75.38% 
hong kong & macau and other 
overseas regions 825,613 20.16% 776,215 20.96% 793,868 23.75% 747,602 24.62% 
total 4,095,422 100.00% 3,703,777 100.00% 3,342,477 100.00% 3,035,956 100.00% 
customer deposits of the domestic operations accounted for a majority of the group’s 
customer deposits. customer deposits of domestic operations by geographic region are 
analyzed as follows: 
unit: rmb million 
2006 2005 2004 2003 
chinese mainland 
balance % balance % balance % balance % 
northeastern region 250,412 7.66% 226,695 7.74% 203,727 7.99% 183,440 8.02%
52 
northern region 686,480 20.99% 640,856 21.89% 534,382 20.97% 489,667 21.40% 
eastern region 1,096,859 33.55% 955,325 32.63% 824,746 32.36% 735,308 32.13% 
central & southern region 874,594 26.75% 791,382 27.03% 714,551 28.04% 644,504 28.16% 
western region 361,464 11.05% 313,304 10.70% 271,203 10.64% 235,435 10.29% 
total 3,269,809 100.00% 2,927,562 100.00%2,548,609 100.00% 2,288,354 100.00% 
customer deposits of domestic operations mainly concentrated in the northern china, 
eastern china and central & southern china. these three regions are also our key focus 
in developing our business. customer deposits in the three regions were rmb 2,657.933 
billion in aggregate, representing 81.29% of customer deposits in domestic operations 
and 64.90% of the group’s customer deposits. 
customer deposits by currency 
unit: rmb million 
2006 2005 
renminbi 2,902,584 2,531,878 
us dollar 422,490 440,252 
hong kong dollar 573,912 529,827 
others 196,436 201,820 
total 4,095,422 3,703,777 
deposits from customers denominated in rmb remained the group’s most significant 
funding source. at the end of 2006, the group’s deposits from customers denominated in 
rmb totaled rmb 2,902.584 billion, representing 70.87% of the group’s total deposits 
from customers, an increase of 2.51 percentage points compared to the prior year. during 
2006, deposits from customers denominated in rmb increased rmb 370.706 billion, 
representing 94.65% of the increase in the group’s total deposits from customers. 
deposits from customers denominated in usd and hkd, accounted for 10.32% and 
14.01%, respectively, of the group’s total deposits from customers at the end of the year. 
equity 
the bank substantially increased its capital base in recent years through, among other 
things, the capital contribution from huijin at the end of 2003, the sale of equity to 
strategic investors during 2005, and the ipo in 2006. at the end of 2006, the group’s 
53 
total shareholders’ equity was rmb388.254 billion, representing an increase of 
rmb154.412 billion (66.03%) over the prior year-end. this increase was comprised of 
the following significant elements. 
（1）on 13 march 2006, the bank issued about 8.514 billion ordinary shares of par 
value of rmb 1.00 each to national council for social security fund at a premium. the 
share premium (net of share issuance costs) of rmb 1.481 billion was recognized in the 
capital reserve; 
（2）on 1 june 2006 and 9 june 2006, the bank issued about 29.404 billion h-shares of 
par value of rmb 1.00 each through a global offering to hong kong and overseas 
investors at a premium. the share premium (net of share issuance costs) of rmb 58.128 
billion was recognized in the capital reserve; 
(3) on 29 june 2006, the bank issued 6.494 billion a-shares of par value of rmb 1.00 
each through an initial public offering to the domestic investors at a premium. the share 
premium (net of share issuance costs) of rmb 12.958 billion was recognized in the 
capital reserve; 
(4) in 2006, the group’s profit after tax amounted to rmb 41.892 billion. 
please refer to the consolidated statement of changes in equity in the financial 
statements for additional details. 
off-balance sheet items 
off-balance sheet items include derivatives financial instruments, contingent liabilities 
and commitments. 
derivatives financial instruments 
the group entered into various foreign currency, interest rate, equity and precious metals 
derivatives transactions principally in connection with its proprietary trading activities 
and asset and liability management. 
please refer to note v 3 to the financial statements for the contractual / notional amounts 
and fair values of derivative instruments held by the group at 31 december 2006. 
54 
contingent liabilities and commitments 
contingent liabilities and commitments include legal proceedings, assets pledged, capital 
commitments, operating leases, certificate treasury bond redemption obligations and 
credit commitments. credit commitments were the single largest component, totaling 
rmb 1,087.822 billion at the end of 2006. 
please refer to note 11 to the financial statements for more details related to contingent 
liabilities and commitments. 
segment reporting by geography 
the group conducts its business activities in the chinese mainland, hong kong and 
macau and other overseas locations. the geographical analysis of profit attributable to 
our business activities, along with information on the related assets and liabilities, in 
these three geographic areas are set forth in the following table: 
unit: rmb million 
chinese mainland hong kong & macau other overseas 
regions eliminations group 
2006 2005 2006 2005 2006 2005 2006 2005 2006 2005 
total assets 4,291,241 3,803,989 1,078,863 966,225 214,735 186,982 (259,566) (214,390) 5,325,273 4,742,806 
total liabilities 3,915,907 3,584,086 978,465 871,046 204,673 178,853 (191,586) (153,799) 4,907,459 4,480,186 
net interest income 100,910 82,687 17,980 16,027 1,813 1,691 4 - 120,707 100,405 
non-interest income 6,215 7,132 10,483 7,224 827 1,267 (604) 16,921 15,623 
operating and 
administrative 
expenses 
(43,139) (36,600) (9,070) (7,287) (1,465) (1,717) 60 - (53,614) (45,604) 
operating profit 57,619 47,627 19,330 15,904 1,143 1,213 (540) - 77,552 64,744 
impairment losses (14,923) (15,404) 3,106 3,869 230 550 - - (11,587) (10,985) 
profit before tax 42,672 32,752 23,395 20,450 1,482 1,938 (540) - 67,009 55,140 
income tax (16,353) (19,409) (3,404) (2,814) (290) (320) 190 - (19,857) (22,543) 
minority interests (9) (5) (5,251) (5,100) - - - - (5,260) (5,105) 
net profit 26,310 13,338 14,740 12,536 1,192 1,618 (350) - 41,892 27,492 

55 
the chinese mainland continues to be the group’s largest geographic business segment. 
at the end of year 2006, the total assets of this segment (before inter-company 
eliminations) were rmb 4,291.241 billion, an increase of rmb 487.252 billion (12.81%) 
compared to the prior year-end, accounting for 76.84% of the group's total assets (before 
inter-company eliminations), an increase of 0.10 percentage points compared to the prior 
year-end. in 2006, this segment had operating profit (before inter-company eliminations) 
of rmb 57.619 billion, an increase of rmb 9.992 billion (20.98%) compared to the prior 
year-end, accounting for 73.78% of the group’s total operating profit (before 
inter-company eliminations). meanwhile, this region realized net profit (before 
inter-company elimination) of rmb 26.31 billion, representing an increase of rmb 
12.972 billion or 97.26% compared to the prior year-end, accounting for 62.28% of the 
group’s net profit (before inter-company eliminations). this segment has been 
increasingly important for the group as a source of revenue and profit growth. the group 
has an extensive domestic branch network, providing traditional retail and corporate 
banking services. the group also provides both rmb and foreign currency banking 
services. with respect to the latter, the group continues to maintain a distinct advantage 
over its competitors by virtue of its unique position in the foreign currency business. 
the hong kong and macau segment is also an important one for the group. at the end of 
2006, total assets of this segment (before inter-company eliminations) was rmb 
1,078.863 billion, an increase of rmb 112.638 billion (11.66%) compared to the prior 
year-end, accounting for 19.32% of the group's total assets (before inter-company 
eliminations), a decrease of 0.17 percentage points compared to the prior year. in 2006, 
this segment had operating profit (before inter-company eliminations) of rmb 19.33 
billion, an increase of rmb 3.426 billion (21.54%) compared to the prior year, 
accounting for 24.75% of the group’s operating profit (before inter-company 
eliminations). meanwhile, this segment achieved a net profit (before inter-company 
elimination) of rmb 14.74 billion, representing an increase of rmb 2.204 billion 
(17.58%) compared to the prior year, accounting for 34.89% of the group’s net profit 
(before inter-company eliminations). apart from traditional commercial banking 
activities, the group also has subsidiaries operating insurance and investment banking 
56 
businesses in this geographic area. these include boci holdings limited, bocg 
insurance co., ltd. and boc group investment limited. the continued development of 
these businesses is essential to the successful implementation of the group’s plan to 
develop a universal banking platform. 
the group has also established a substantial overseas network, with operations in europe, 
north america, south america, africa and other asia-pacific regions. at the end of year 
2006, the total aggregate assets of these regions (before inter-company eliminations) was 
rmb 214.735 billion, an increase of rmb 27.753 billion (14.84%) compared to the prior 
year-end, accounting for 3.84% of the group's total assets (before inter-company 
eliminations). these overseas operations had a operating profit (before inter-company 
eliminations) of rmb 1.143 billion and a net profit (before inter-company eliminations) 
of rmb1.192, accounting for 1.46% and 2.82% of the group’s operating profit and net 
profit (before inter-company eliminations)respectively. 
please refer to the “business review” for additional information on business line 
segments. 
principal accounting estimation and assumption 
the application of the group’s accounting policies in the preparation of its consolidated 
financial statements requires a number of critical accounting estimates and judgments. 
these estimates and judgments were made based on past experience and reasonable 
expectations of future events. further, the basis for making these estimates and judgments 
is subject to a process of re-evaluation. management believes that the accounting 
estimates and judgments made properly reflected the economic conditions in which the 
group was operating and the relevant conditions specific to individual estimates and 
judgments. the areas involving significant estimates and judgements include the 
allowance for loan losses and bad debt write-offs; classification of investment securities; 
measurement of the fair value of financial assets and financial liabilities, measurement of 
liabilities for defined benefit plans, and the recognition of income tax. 

57 
please refer to note iii to the financial statements for more detailed information related 
to the group’s accounting policies and accounting estimates and judgments. 
other financial information 
reconciliation between prc gaap and ifrs financial 
information 
the reconciliation of net assets and net profit of the group prepared in accordance with 
prc gaap to that prepared in accordance with ifrs is set forth in appendix i-4 to the 
financial statements. 
reconciliation of shareholders’ equity between cas 2006 and 
present prc gaap 
in february 2006, the mof issued 39 new 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 has adopted the new cas from 1 january 2007 and has prepared this 
reconciliation pursuant to the requirements of the “notice of disclosure of relevant 
financial information under the new cas” (zheng jian fa [2006] no.136) issued by the 
china securities regulatory commission and the “accounting standards for business 
enterprises no.38 - first-time adoption of accounting standards for business 
enterprises” which set forth the analysis of the key impacts of the new cas to its 
financial position. the reconciliation reflects material retrospective adjustments that are 
required to the group’s shareholders’ equity as at 1 january 2007 on the adoption of the 
new cas, based on the consolidated financial statements of group for the year ended 31 
december 2006. 
the bank was listed in hong kong stock exchange in june 2006 and prepares 
consolidated financial statements for the bank and its subsidiaries under international 
58 
financial reporting standards (“ifrs”). in order to minimize the differences between the group’s 
consolidated financial statements prepared under the ifrs and the new cas, the group has adopted 
the opinion no.1 on the implementation of the new cas issued by the expert task force of the mof 
on 1 february 2007 and put through appropriate retrospective adjustments to the 
shareholders’ equity as at 1 january 2007 as permitted under this expert task force 
opinion, in addition to those allowed under the accounting standards for business 
enterprises no.38 - first-time adoption of accounting standards for business 
enterprises. 
effective 1 january 2007, the group has adopted the “accounting standards for business 
enterprises” issued on 15 february 2006 by the ministry of finance (“mof”) hereinafter 
referred to as (the “new cas”). the group will continue to assess the impacts of the 
adoption of the new cas on its financial positions, operating results and cash flows. 
the reconciliation of group’s consolidated shareholders’ equity as at 1 january 2007 
prepared under the existing applicable standards and that prepared under the new cas 
(hereinafter referred to as “the reconciliation”) may be subject to adjustments from further 
interpretations that might be issued by the mof and our due consideration of the related implications 
to the group’s application of these policies. consequently, the amount of consolidated shareholders’ 
equity as at 1 january 2007 presented in this reconciliation might be different from that to be 
disclosed in the group’s consolidated financial statements for the year ending 31 december 2007. 
unit: rmb million 
item description amount note 
consolidated shareholders’ equity 
(under the relevant accounting standards applicable prior to 1 
january 2007) 
388,254 1 
1 fair value measurement on investment properties 3,318 2 
2 early retirement benefit obligations (5,316) 3 
3 equity securities classified as available-for-sale financial assets 
and measured at fair value 2,550 4 
4 cost method applied on precious metals (791) 5 
5 deferred tax impact (including those on the above items) (286) 6 
6 minority interest effect and others 36 
59 
sub-total (489) 
7 balance of minority interest 29,560 7 
consolidated shareholders’ equity (under the new cas) 417,325 
notes to the reconciliation: 
1 this amount of shareholders’ equity as presented in the reconciliation is extracted from 
the group’s consolidated financial statements for the year ended 31 december 2006 
prepared in accordance with the accounting standards for business enterprises, the 
accounting system for financial institutions, and other relevant accounting regulations as 
applicable to the group for the said period (“former prc gaap”). the above financial 
statements for the year ended 31 december 2006 were audited by pwc and “report of 
auditors” (pwc zt sz [2007] no.10826) and an unqualified opinion was issued on 22 
march 2007. 
2 fair value measurement on investment properties 
under the former prc gaap, investment properties were treated as fixed assets and were 
measured at cost less accumulated depreciation and impairment losses. in accordance with 
the new cas, accounting standards for business enterprises no.3 - investment property, 
investment properties are measured at fair value at the balance sheet date. 
3 early retirement benefit obligation 
according to the 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 was recognized on a cash basis 
by the group. according to the new cas, accounting standards for business 
enterprises no.19 - employee benefits, early retirement benefits 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. 
4 equity securities classified as available-for-sale financial assets and stated at fair value 
under the former prc gaap, equity securities were accounted for at cost less allowance 
for impairment losses. according to the new cas, accounting standards for business 
enterprises no.22 - financial instruments: recognition and measurement, these securities 
are classified as available-for-sale and stated at fair value. 
5 cost method applied on precious metals 
according to accounting practice of prc banking industry, all precious metals were 
initially recognized at cost and subsequently re-measured at fair value at the balance sheet 
date. according to the new cas, accounting standards for business enterprises no.1 - 
inventories, precious metals that are not related to the group’s precious metals trading 
activities are carried at cost. 
6 deferred tax impact 
60 
under the new cas, 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 the former 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 the new cas and former prc gaap mainly represents the 
deferred income tax credited or charged directly to equity under the new accounting 
standards relating to the fair value re-measurement of available-for-sale investments 
charged or credited directly to equity. 
this item also includes the deferred tax impact related to the aforesaid retrospective 
adjustments. 
7 balance of minority interest 
minority interest balance is included as part of the shareholders’ equity under the new cas. 
under the former prc gaap, minority interest was presented outside of the shareholders’ 
equity. 
the above financial statements for the year ended 31 december 2006 were audited by pwc and 
an unqualified opinion was issued on 22 march 2007. 
disclosure of other related data required by regulation 
based on the “standards concerning the contents and formats of information disclosure 
by companies offering securities to the public (no.2)-contents and formats of annual 
report (revision 2005) ”(zhengjiangongsizi [2005] no. 141) promulgated by china 
securities regulatory commission 
primary financial items 
unit: rmb million 
2006 2005 increase/de 
crease 2004 
operating income 242,192 190,894 51,298 155,446 
profit before income tax 67,009 55,140 11,869 34,576 
net profit 41,892 27,492 14,400 20,932 
net profit after deducting the 
non-routine items 39,822 26,174 13,648 20,310 
net cash flow from operating 
activities 27,908 13,883 14,280 (100,738) 
61 
end of 
2006 
end of 
2005 
increase/de 
crease (%) 
end of 
2004 
total assets 5,325,273 4,742,806 12.28% 4,270,443 
shareholder’s equity 
(excluding minority interests) 388,254 233,842 66.03% 205,351 
operating income ＝ interest income＋fee and commission income ＋net trading 
(losses)/gains＋investment gains/(losses)＋other operating income 
primary financial indicators 
2006 2005 increase/decrease (%) 2004 
earnings per share 
(rmb) 0.17 0.13 0.04 0.11 
return on equity (%) 10.79 11.76 -0.97 10.19 
net profit (rmb 
million) 41,892 27,492 14,400 20,932 
return on equity (%) 
based on net profit 
after deducting the 
non-routine items 
10.26 11.19 -0.93 9.89 
net cash flow from 
operating activities per 
share (rmb) 
0.11 0.07 0.04 -0.54 
end of 2006 end of 2005 increase/decrease (%) end of 2004 
net assets per share 
(rmb) 1.53 1.12 36.61 1.10 
adjusted net assets per 
share (rmb) 1.52 1.11 36.94 1.09 
note：earnings per share is diluted figure； 
note：return on equity is diluted figure； 
note：return on equity based on net profit after deducting the non-routine items is diluted 
figure； 
note：the total shares as at end of years are applied to the calculation of net cash flow from 
operating activities per share, net assets per share and adjusted net assets per share. 
based on the “preparation conventions of information disclosure by companies 
offering securities to the public no.9-the calculation and disclosure of return on net 
assets and earnings per share”(zhengjianfa [2001] no. 11) promulgated by china 
securities regulatory commission 

62 
business review 
with an international network in 27 countries and regions, bank of china’s business 
scope encompasses three main business lines: commercial banking, investment banking 
and insurance. it has established correspondent banking relationships with 1,500 banks 
having a total of 47,000 branches worldwide. through its global network and 
comprehensive range of services, the bank has maintained a competitive advantage in the 
domestic banking market. 
the following table sets forth our operating profit attributable to each of our principal 
lines of business for the periods indicated: 
unit: rmb million/except percentages 
2006 06 2005 2004 
amount proportion amount proportion amount proportion 
commercial 
banking 
73,649 94.97% 63,219 97.64% 56,243 97.24% 
investment 
banking 
1,301 1.68% 321 0.50% 324 0.56% 
insurance 539 0.70% 291 0.45% 302 0.52% 
others 1,418 1.83% （21） -0.03% 972 1.68% 
offset 645 0.82% 934 1.44% - 0.00% 
total 77,552 100.00% 64,744 100.00% 57,841 100.00% 
return on equity (%) earnings per share 
item (rmb) 
profit for period 
reported 
(rmb million) diluted weighted 
average diluted weighted 
average 
profit from principal 
operations 77,552 19.97% 24.28% 0.31 0.33 
operating profit 77,552 19.97% 24.28% 0.31 0.33 
net profit 41,892 10.79% 13.11% 0.17 0.18 
net profit after deducting the 
non-routine items 39,822 10.26% 12.46% 0.16 0.17
63 
commercial banking 
our commercial banking business comprises of three major lines of business: corporate 
banking business, personal banking business and treasury operations, which are the 
traditional business of the bank. 
the following table sets forth the operating profit of major commercial banks for the 
periods indicated: 
unit: rmb million/except percentages 
2006 2005 2006 compared with 200 5 
amount proportion amount proportion growth 
volume 
growth 
ratio 
corporate 
banking 
business 
43,313 58.81% 41,248 65.25% 2,065 5.00% 
personal 
banking 
business 
17,694 24.02% 12,493 19.76% 5,201 41.63% 
treasury 
operations 
12,642 17.17% 9,478 14.99% 3,164 33.38% 
total 73,649 100.00% 63,219 100.00% 10,430 16.50% 
corporate banking business 
business scope and strategic positioning 
the bank provides its corporate customers (including state-owned enterprises, private 
enterprises, foreign-invested enterprises, financial institutions and government agencies) 
with a comprehensive range of financial products and tailor-made integrated financial 
solutions, including lending, bill discounting, trade finance, deposit-taking, settlement, 
clearing and cash management services. it is the bank’s strategy to target large and high 
quality corporate customers to cultivate long-term cooperative relationships. by the end 
of 2006, the bank has established credit business relationships with more than 41,000 
corporate customers and 1,500 financial institutions group customers. meanwhile, the 
bank selectively seeks business opportunities with small and medium-sized enterprises. 
in 2006 it rolled out a new package of financial services for sme customers in 11 cities 
located in yangtze river delta area. 
opportunities and challenges 
64 
in 2006 the state macro-control policy showed its impact as the expansion of production 
capacity of some industries began to be restrained. domestic banks competed more 
intensively on product, service and price. the bank actively adjusted its customer 
structure in accordance with state macro-control policy. the bank developed more key 
customers who can benefit from differential relationship management and service 
policies. achievement was made in customer marketing and lending. based on global 
credit line, the bank enhanced its capability to serve customers on a global basis by 
further coordination with overseas branches and subsidiaries. the bank successfully 
marketed its services on dozens of projects in which boci, bocg investment and 
bocg insurance actively participated, realizing group synergy by tapping their 
respective resources. it enhanced the bank’s capability to provide integrated financial 
services leveraged on its universal banking platform. the bank initiated projects for 
product innovation and improvement of its product mix, so as to meet more sophisticated 
financial demands and sharpen its competitive edge. the bank mapped out training plans 
for employees engaged in corporate banking businesses. it also set up working teams 
consisting of professional customer managers and product managers. credit monitoring 
after loan disbursement was strengthened. the customer management system was put 
into application extensively. loan quality continued to improve. 
business performance 
at the end of 2006, the pre-tax profit of corporate banking (before inter-company 
eliminations) was rmb32.3 billion, an increase of 11.6% from the prior year-end. the 
pre-tax average roa reached 1.87%. 
unit: rmb million 
2006 2005 2006 compared with 2005 
growth 
volume 
growth 
ratio 
net interest income 55,416 51,124 4,292 8.40% 
non-interest income 10,742 9,604 1,138 11.85% 
operating and administrative 
expenses 
-19,695 -16,468 -3,227 19.60% 
65 
impairment (losses) / write-back -11,166 -12,529 1,363 -10.88% 
operating profit 43,313 41,248 2,065 5.01% 
profit before tax 32,298 28,941 3,357 11.60% 
segment assets 1,797,363 1,658,718 138,645 8.36% 
corporate deposits 
with rapid growth of chinese economy, the bank pro-actively adjusted currency structure 
of corporate deposits by taking in more rmb deposits. at the end of 2006, the balance of 
domestic rmb corporate deposits was rmb 1,160.8 billion, an increase of rmb 165.4 
billion or 16.6% during the year. the bank’s market share of rmb corporate deposits 
among prc financial institutions was 7.7%. as a result of continuous efforts in 
maintaining its competitive advantage in foreign currency businesses, the bank’s foreign 
currency deposits kept growing. at the end of 2006, the balance of domestic foreign 
currency corporate deposits was usd 16.72 billion, a decrease of usd 0.204 billion. the 
bank maintained a leading position in foreign currency corporate deposits. at the end of 
2006, the balance of overseas operations’ foreign currency corporate deposits totaled 
rmb 239.4 billion, an increase of rmb 17.2 billion or 7.7% during the year. 
corporate loans 
the bank strengthened marketing to key customers through optimized loan review and 
approval procedures and flexible pricing authorization. the structure of customer, 
industry exposures and loan tenure were optimized. asset quality continued to improve. 
at the end of 2006, the outstanding balance of domestic rmb corporate loans (bills 
financing included) was rmb 1245.1billion, an increase of rmb 149.0 billion or 13.59% 
from prior year-end, and the market share was 6.3% among prc financial institutions. at 
the end of 2006, the outstanding balance of domestic foreign currency corporate loans 
(trade finance included) was usd 38.352 billion, a decrease of usd 1.778 billion from 
prior year-end. the decrease was mainly attributed to higher foreign currency interest rate 
and repayment of matured on-lending. the bank maintained the leading position in 
66 
foreign currency corporate loans with a market share of 29.12% among prc financial 
institutions. at the end of 2006, the outstanding balance of overseas operations’ foreign 
currency corporate loans was rmb 304,6 billion, an increase of rmb 12.6 billion or 
4.32% from prior year-end. 
institutional banking 
the bank’s institutional banking business includes deposit taking, local and foreign 
currency clearing, custody, fund distribution, asset management services, insurance 
agency business, securities and futures clearing, bond distribution, clearing agency and 
foreign currency note services for financial institutions and correspondent banking 
services. the bank focused on expanding the scope of cooperation with other financial 
institutions through customer referral, resources sharing and co-development of new 
products. 
the bank also optimized the product structure of rmb deposits by reducing the amount 
of negotiation deposits with higher interest rate. in 2006, the bank’s domestic branches 
absorbed from financial institutions demand and time deposits of rmb 134.1 billion, a 
decrease of rmb 7.3 billion. the balance of foreign currency deposits from financial 
institutions including current and fixed deposit amounted to usd 10 billion, an increase 
of usd 1.4 billion from prior year-end. 
the bank also conducts us dollar, eur and jpy clearing through its new york, 
frankfurt and tokyo branches. these branches, together with singapore branch, are all 
tier-1 clearing banks in the local markets. the bank endeavored to enhance clearing 
service quality through better coordination among domestic and overseas operations. as a 
result, the clearing volume reached historic high records. the new york branch was 
ranked 11th in terms of usd clearing volume in chips, the inter-bank payment system, 
and the tokyo branch was ranked 10th in japanese yen clearing system. 
international settlement and trade finance 
international settlement and trade finance is one of the bank’s traditional areas of strength 
67 
and key products and services including trade settlement, non-trade settlement, trade 
finance, guarantee, factoring, etc. thanks to favorable impacts of the growth of domestic 
economy and international trade, the bank’s international settlement services and trade 
finance achieved rapid development. the annual fee-based income of domestic branches 
on trade-related services is rmb 6.883 billion. 
international settlement services 
by the end of 2006, the transaction volume of international settlement (including 
international trade settlement and non-trade settlement) of the domestic branches was 
usd 588.045 billion, achieving an annual growth of 12.04%. for international trade 
settlement, our transaction volume is usd 492.848 billion, achieving an annual increase 
of 19.22%; according to data from the state administration of foreign exchange (or 
safe), at the end of 2006, the bank maintained its leading position in international 
trade-related services with a market share of 31.13%. 
group international settlement services 
unit: usd million 
31 dec. 2006 31 dec. 2005 
trade settlement 492,847.57 413,383.26 
non-trade settlement 95,197.77 111,474.64 
domestic 
branches 
sub-total 588,045.34 524,857.90 
overseas 
operations 
trade settlement and 
non-trade settlement 343,358.05 283,233.31 
boc group total 931,403.39 808,091.21 
trade finance 
in 2006, despite of the negative impact of increasing interest rate of foreign exchange, the 
bank achieved steady growth in foreign-currency trade finance, the dollar balance 
increased to usd 27.089 billion, earning 2.90% more in income than 2005. by taking 
advantages of the rapidly growing domestic trade, the bank saw a dramatic growth in 
domestic trade finance, with the total amount up to rmb 44.552 billion in the year, 
achieving an annual growth of 166.65%. 

68 
guarantee services 
the bank consolidated its leading position in this area with a rapid business growth. in 
2006 the transaction volume of foreign-currency guarantee businesses of the domestic 
branches reached usd 12.7 billion with an annual growth rate of 80.59%, and the 
transaction volume of rmb guarantee businesses was rmb 73.234 billion with an 
annual growth rate of 90.97%. 
factoring 
in 2006 the transaction volume of international factoring of domestic branches increased 
by 19.75% from the previous year to usd 5.645 billion. the transaction volume of 
domestic factoring reached rmb 34.314 billion, an increase of 163.62%. the bank was 
elected as member of the executive committee of the factors chain international (fci), 
the first time for a representative from a chinese factor to be elected into the fci board, 
which further enhanced the bank’s reputation in international factoring community. 
international settlement and trade finance of the overseas 
operations 
in 2006 international settlement and trade finance of the bank’s overseas operations 
continued to maintain a rapid growth. the transaction volume of international settlement 
business (including trade and non-trade settlement) realized by the overseas operations 
was usd 343.358 billion, increasing by 21.23% from the previous year. the transaction 
volume of trade finance was usd 43.219 billion, a year-on-year increase of 26.57%. 
other fee-based businesses for corporate customers 
the bank provides an extensive range of fee-based products and services for corporate 
customers other than international settlement services and financial institutions services, 
including domestic settlement, lending-related services and online banking services. 
domestic settlement activities include bank drafts, promissory notes, checks, foreign 
currency exchange, remittance, inter-city collection, collection and acceptance and 
bank-accepted draft. in 2006 the domestic branches generated total domestic settlement 
69 
income of rmb 0.85 billion, an increase of 31.0% from prior year. 
lending-related services include on-lending arrangement, syndicated loan arrangement, 
entrusted loans, lending agent for policy banks and corporate banking advisory. in 2006 
the bank took part in a number of syndicated loans either as lead arranger or participant. 
at the end of 2006, the fee income of the domestic branches from lending-related 
services was rmb 0.426 billion, increasing by 43.92% from 2005. 
based on corporate banking online platform, the bank provided corporate customers 
with a wide range of cash management services, including rmb account management, 
payables and receivables management, centralized management of group company’s 
internal funds, etc. the bank also provided group companies with foreign exchange fund 
sweeping and management services. in 2006 the total transaction volume through 
corporate banking online exceeded rmb 10 trillion, and service scope was extended to 
9 overseas branches. this further improved the bank’s capability to provide worldwide 
financial support to chinese enterprises with global business coverage. 
business innovation 
in 2006, the bank formulated the guidelines on corporate banking product innovation 
and management, developed an information-sharing platform and compiled the 
handbook of corporate banking products. all these efforts helped to standardize 
corporate banking products. some innovative products include revolving loans, 
inventory-linked acceptance for dealer financing, purchase of account receivables, 
asset-backed loans, equity trust and foreign currency entrusted loans. corporate banking 
advisory business became a new growth engine and the domestic branches started to 
provide such service. the bank cooperated with strategic investors in several structured 
financing projects, which improved its capability to serve the needs of corporate client for 
high-end financial services and products. in 2006, the bank started to provide the 3rd 
party cash custody service for securities companies, consolidating the bank’s status as a 
major bank service provider in the securities settlement market. 

70 
in trade finance services, the bank established and strengthened its brand in the market 
by promoting “da”(chinese character which means “access”) series products, including 
“export_quanyida”, “import_huilida”, “import_baofuda”, “rongfuda” etc. the bank 
was proactive in developing supply chain finance products. it was the first bank in china 
to offer domestic supply chain finance solutions to customers. it was also the first in the 
world to come up with “back-flow international factoring” product to solve the problem 
caused by agents in international factoring. the product has been widely acclaimed 
within the factoring community. 
the bank successfully incorporated singapore aircraft leasing company limited in 
2006, which expanded the platform of development for corporate banking business. 
outlook 
the financial industry is striding into a new era of competition wherein the participants 
are becoming more diversified and competition closing in all directions. in the year 2007, 
the bank will continue to improve its service for customers. some major measures 
include: improve the service model for key customers; optimize business procedures of 
corporate banking; strengthen coordination and cross-selling among the head office and 
the branches, both domestic and in overseas markets, and across different business lines; 
encourage product innovation; improve service model for small business. these efforts 
will help the bank lay down a sound foundation for future sustainable growth. 
personal banking business 
annual awards received for personal banking business 
hexun.com 
2006 best personal residential mortgage loan service ( “ideal home”) 
2006 best marketing practice (“the great wall chinaren card”) 
2006 maximum investment value, rmb wealth management products; 

71 
visa 
2006 best olympic partner 
2006 best acquiring bank 
mastercard: 
2006 best contribution of the year (china) 
best acquiring bank of the year 
2006 best international card of the year - great wall international mastercard 
in pbp 
2006 best branch sales of the year - bank of china jiangsu branch 
china union pay: 
2006 advance award for best execution of cup business regulations 
2006 excellent achievements in cup standard credit card issuance 
2006 extraordinary contribution award for cup cards acquiring 
business scope and strategic positioning 
the bank provides a broad range of personal banking products and services, including 
deposits, loans, funds transfer and settlement, bank cards and wealth management 
services. 
personal banking business is one of our strategic focuses. we strive to quicken the 
development of personal banking business in order to improve business and income 
structure, increasing revenue while reducing risk. we provide the mass clients with 
standardized products and services, and provide customized products and services to 
affluent clients. 
as of 31 december 2006, we had approximately 0.14 billion retail customers, 0.183 
billion renminbi deposit accounts and 35 million foreign currency deposit accounts, and 
loan accounts. 
72 
opportunities and challenges 
in 2006, the government put forward a series of macroeconomic adjustment policies 
aimed at the residential property market and housing loan market. these policies exerted 
great impact on the personal housing loan. the residential deposits were partially 
diverted away to buoyant and fast growing capital market. hence the balance of deposits 
was subject to greater fluctuation. the local currency, renminbi was continuously 
appreciating, reducing the residents’ desire to hold foreign currencies and promoted them 
to sell foreign currency. the increase of the interest rate by pboc was helpful in 
increasing renminbi deposits, however, consumer loan borrowers were forced to pay 
higher interest as a consequence, therefore early repayment also increased. 
the bank actively adjusted its business to the changes in the market. the bank built up 
specialized marketing teams for personal loans and implemented a direct sale model; 
and continued to improve centralized personal loan approval mechanism by integrating 
the system and processes in order to improve the efficiency of its reviewing and 
approving facilities. with these innovations, the bank greatly improved the 
competitiveness of its personal lending. the bank also quickened the renovation of its 
network of operating outlets, so as to adjust the physical layout to the separation of 
various functions, and to establish a new kpi indicator system aimed at increasing cross 
selling and customer’s wallet share. the bank strengthened product and service 
innovation, provided series of customized services to affluent customers, retain and 
increase the loyalty of mid-level customers, effectively keeping a sustainable growth of 
all its related business. 
business operation 
as of the end of 2006，the pre-tax profits (before inter-company eliminations) of personal 
banking business was rmb 17.35 billion, an year-on-year increase of 20.98% with the 
pre-tax roa of 2.7%. 

73 
unit: rmb million 
2006 compared with 2005 
2006 2005 
growth volume growth ratio 
net profit income 36,142 31,877 4,265 13.38% 
non-profit income 8,702 5,860 2,842 48.50% 
operating and 
administrative expenses 
-26,188 -24,330 -1,858 7.64% 
impairment 
losses/write-back 
-569 1,434 -2,003 -139.68% 
operating profit 17,694 12,493 5,201 41.63% 
total profit 17,345 14,337 3,008 20.98% 
segment assets 687,592 603,891 83,701 13.86% 
savings deposits 
as of the end of 31 december 2006, the balance of domestic rmb savings deposits was 
1.602755 trillion，an increase of 186.429 billion. the bank’s market share among all 
financial institutions was 9.92%. the balance of domestic foreign exchange deposit was 
usd 30.465 billion, a decrease of usd 3.133 billion from the prior year. the balance of 
overseas foreign currency deposit is rmb 578.2 billion, an increase of rmb31.3 billion. 
personal loan 
as of 31december 2006, the balance of domestic rmb personal loan was rmb 443.6 
billion, an increase of 63.6 billion, among which the outstanding balance of housing 
loan was 337.8 billion, an increase of 51 billion. we had rmb 139.1 billion overseas 
personal loans outstanding, a decrease of rmb 3.9 billion 
personal fee-based business 
wealth management in 2006, the bank strived to develop the personal wealth 
management business by eliciting the synergy between its domestic and overseas 
branches, the customers’ awareness of the “boc wealth management” brand was 
enhanced. 

74 
the bank continued to build specialized service facilities in 2006, building 97 new 
wealth management centers within the year, bring the total number of wealth 
management center to 297, all built to uniform standard. the bank improved its service 
and customer acquisition capability of wealth management costumers, boosting the 
number of wealth management customers to 700,000, an increase of 200,000. 
the bank strived to improve the specialized wealth management services, providing 
reservation service in its domestic wealth management centers for wealth management 
customers, marketing overseas wealth management and investment advisory 
management service in cooperation with bochk and boci, launching overseas wealth 
management dedicated center service. 
the bank endeavored to build a professional wealth management team. the boc 
wealth management specialist group was staffed with of specialists from its related 
departments and bochk, boci, boci china, bocg insurance, etc, supporting the 
brand promotion of “boc wealth management” and customer cultivation. the number 
of specialized full-time client managers in wealth management reached 2,226 by the end 
of 2006, among which 1,007 have obtained the certificate of afp, 197 have obtained the 
certificate of cfp 
. 
bank card business 
the bank provides various types of bank card products and services in response to 
different customer needs including single and dual-currency credit card, quasi-credit card, 
debit card, and offers agent services for cards issued by others. the bank was the first 
issuer of the bank card in china in 1985. 
credit card the bank provide broad range of credit card products including single and 
dual-currency credit card which can be settled in rmb, usd, hkd, euro and japanese 
yen. by the end of 2006, the bank has issued about 2.15 million credit cards in mainland 
china. 

75 
credit card volume issued in china（graph） unit: million 
31 dec. 2006 31 dec. 2005 31 dec. 2004 31 dec. 2003 
credit card volume 2.15 1.35 0.90 0.50 
quasi-credit card the bank initially issued quasi-credit cards in china. this 
quasi-credit card product use “the great wall” brand and provide saving, settlement and 
payment functions. as of 31 dec. 2006, the bank has issued 7.21 million quasi-credit 
cards in china. the bank is the biggest quasi-credit card issuer in china in terms of 
cards issued volume with a market share over 37%. 
debit card the bank provides debit card products linked directly with clients’ 
banking accounts. cardholders can trade in foreign exchange, gold, fund, treasury notes 
and other securities, and access the bank’s telephone banking and on-line banking 
services. as of the end of 2006, the bank has issued 98.6 million debit cards in mainland 
china. 
boc rmb card sales volume in china unit: 100 million rmb 
31 dec. 2006 31 dec. 2005 31 dec. 2004 31 dec. 2003 
sales volume 1,478 976 684 409 
acquiring services the bank provides settlement services to merchants for credit card, 
quasi credit card and debit card transactions. the bank has one of the largest merchant 
acquiring network in china. as of end of 2006, the bank has 190 thousands merchants 
with foreign card transaction amounting to rmb 22.3 billion. 
foreign card transaction volume acquired by boc in china（graph） 
unit: 100 million rmb 
31 dec. 2006 31 dec. 2005 31 dec. 2004 31 dec. 2003 
foreign card transaction 
volume acquired 
223 191 156 103 
business innovation 
the bank focused on the credit requirements of customers’ consumption and investment, 
launching some competitive direct customer service products, including “easy 
76 
mortgage ” for first hand residential mortgage loan, and “safe mortgage” for second 
hand housing mortgage loan, fixed interest rate mortgage, “fast auto loan” under the 
umbrella of the “ideal home” brand. personal revolving loan was launched in some 
developed regions, and has been growing very fast and brought new revenue. 
the bank pays great attention to bank cards innovation. in 2006, it promoted various 
credit card and co-brand products, such as the boc city card, the great wall 
commercial card, the boc jiaotong university affinity card, the boc beijing 
university co-brand card, the boc golden eagle co-brand card, the boc (shanghai) 
sogo jcb co-brand card, the boc pku affinity card. in addition, the bank 
promoted a lot of quasi-credit card products, such as the great wall ruziniu co-brand 
card, the great wall picc co-brand card, the great wall jianye co-brand card, the 
great wall jiashi co-brand card, the great wall zhonghai co-brand card, the great 
wall zhongsheng co-brand card. the bank emphasized the importance in building 
relationship with customers with great potential, launching “great wall chinaren 
alumni card”, “great wall blooming season card” to cater to the need of the younger, 
promising generation. 
the bank emphatically developed new investment and wealth management products, 
promoting investment products linked to overseas stock market, renminbi derivatives, 
renminbi products “market game”, and a qdii product, “boc usd enhanced cash 
management, while jointly launching derivative products linked to stock market in 
cooperation with its strategic partners. 
as the sole banking partner of 2008 beijing olympic games, the bank launched 
“olympic growth deposit passbook”, “olympic courtesy deposit certificate” in 
relation to the olympic brand. 
the bank was actively developing overseas retail market. five of its overseas branches 
including singapore and seoul piloted the renminbi cash exchange and deposit business. 
the bank increased the choices of foreign currencies for the renminbi denominated 
77 
remittance, issued debit card at its branches in paris and london. bochk marketed 
options, off-shore deposit and noble metal agent trading service through the domestic 
branches. london branch launched services for chinese students going to uk in 
cooperation with rbs. new york branch cooperated with citizens on international 
remittance to prc. it also launched “family remittance ” with bts in us. boc was the 
first one to start the selling of korean yen to chinese citizens. 
outlook 
in 2007, the bank will base the personal banking business on a client-oriented tenet, 
striving to improve business operations, perfect service model, optimize business process, 
develop and cultivate stronger relationships with affluent customers, strengthen 
cross-selling and internal coordination, promote products innovation, strengthen 
marketing and increase the core competitiveness of services delivered by the outlets. the 
bank will accelerate the innovation of personal finance for quicker development and 
expansion of the personal banking business and wealth management through deepening 
the cooperation with the overseas strategic investors on product, service and human 
resources. the human resource strategic plan for personal banking business will be drawn 
up to accelerate the forming of specialized teams and lay a solid foundation for 
sustainable development. 
financial markets business 
business scope and strategic positioning 
the financial markets businesses of the bank cover foreign exchange and precious metal 
transaction, bond transaction, short-term financing notes and bills in rmb, local and 
foreign currencies bond investment, financial derivatives and commodity futures, local 
and foreign currencies wealth management and asset management, and distribution and 
custody of funds. the bank conducts its treasury operations primarily through five 
trading centers located in beijing, shanghai, hong kong, london and new york. these 
trading centers manage positions and quotations in relays, which enables the bank to 
conduct treasury operations on a 24-hour basis. 
78 
the bank’s development strategies on financial markets businesses are: giving equal 
emphasis on local and foreign currencies businesses, treasury transactions on proprietary 
accounts and on behalf of customers, providing excellent marketing and customer service, 
so as to confirm its leading position in domestic financial market; to keep up sustainable 
product innovation and risk management, cultivating professional human resource, 
building sustainable critical competitiveness; realizing the integration of global trading 
and investment, to achieve the excellence typical of advanced international banks both in 
business volume and profitability, and gradually build up a good brand recognition and 
company image of financial markets business of bank of china. 
opportunities and challenges 
in the year of 2006, influenced by the uncertainty caused by the fed in interest increases, 
there were relatively large fluctuations in interest rate market, 10-year treasury yield 
witnessed a large fall-back after reaching new high; the major currencies maintained 
within normal range with declining volatility, market environment was not favorable for 
the foreign currency treasury operation. 
meanwhile, due to the tight monetary policies, the overall price of the domestic bond 
market witnessed a downturn, overall yield of rmb bond market was in an upswing 
trend compared with the year-start, the yield on rmb bond improved significantly, while 
the yield curve flattened quite obviously, the treasury operations in rmb also faced 
unfavorable market environment. 
however, the stock market in 2006 was in “blowout” bull market, and the sales of fund 
products were in an ascending trend. the funds distributed by the bank on commission 
basis were primarily equity funds with the highest commissions, and the market 
environment of fund business was much better compared with 2005. in this background, 
the commission income set a historic record. 
faced with unfavorable market conditions, by deep research and analysis of the market 
79 
development, the bank managed to catch profit opportunities with effectively controlling 
market, and achieved sound return. 
business operations 
in the year of 2006, the overall pre-tax profit (before inter-company eliminations) of the 
treasury operation increased to rmb 12.8 billion for the group, an increase of 32.5% 
compared with the year of 2005, pre-tax average roa reached 0.5 %. 
unit: rmb million 
2006 2005 2006 compared with 2005 
growth volume growth ratio 
net interest income 29,861 18,055 11,806 65.39% 
non-interest income -8,531 -2,296 -6,235 271.56% 
business and management 
expense 
-6,398 -4,583 -1,815 39.60% 
impairment (loss) / write-back 9 -5 14 -280% 
operating profit 12,642 9,478 3,164 33.38% 
total profit 12,774 9,642 3,132 32.48% 
segment assets 2,727,735 2,399,377 328,358 13.69% 
local and foreign currencies investment the local and foreign currencies investment 
of the bank mainly includes local currency investment and foreign currency investment. 
foreign currency investment the foreign currency investment of the bank primarily 
include investment in government bonds, institution bonds, corporate bonds, bank bonds, 
emerging market bonds, mortgage-backed securities (mbs), asset-backed securities 
(abs), collateralized debt obligation (cdo) and lending at money market. the foreign 
currency bonds invested often have a high credit rating: 74.9% of them are above aaa 
grade. the bank also conducted forward, option, swap and other derivatives transactions 
to hedge the risk assumed or achieve the objectives of investment. in 2006, the bank 
80 
invested proceeds from the ipo in assets that have sound liquidity and high return, such 
as mbs, corporate bonds with high rating and long-term investment portfolio which is 
flexible and conducive to the enhancement of overall investment return. in addition, the 
bank disposed of some bonds whose return turned to be low, decreased the proportion of 
held-to-maturity investment, thus enhanced the liquidity and improved the valuation of 
the account. the duration of foreign currency bond investment decreased sharply in the 
second half of 2006, being 2.039 at the end of the year. 
local currency investment the local currency investment of the bank primarily 
include investment in treasury bonds of china, financial bonds issued by chinese policy 
banks, bills issued by people’s bank of china (pbc) and bonds issued by chinese 
commercial banks. in 2006, the yield curve of domestic bond market presented an 
obvious flattened trend. at the end of 2006, the total scale of local currency investment 
exceeded rmb 0.4 trillion, the modified duration decreased to 2.16, and reduced the 
interest rate risk effectively. in a comprehensive consideration of risk and return, the 
bank held more bills of pbc and policy financial bonds, attaining stable and increasing 
income. 
proprietary transaction proprietary transactions of the bank include foreign 
currency proprietary transaction and local currency proprietary transaction. 
foreign currency proprietary transaction the bank efficiently performed the role 
of market-maker at inter-bank foreign exchange market with the largest transaction 
volume, and actively provided the liquidity as well. as of 31 december 2006, the number 
of transactions in inter-bank market reached 17,210, a year-on-year increase of 70 times. 
the bank actively participated in domestic bullion transaction. while keeping its profit 
margin, it continued to maintain the leading position in domestic market and expanded its 
influence in international market. 
confronted with unfavorable market environment, the bank actively explored the 
volatility range of various currencies and made flexible use of different trading platforms 
81 
and instruments so as to maintain the leading position at the market, provide adequate 
liquidity and perform the obligation of market-maker. the bank also actively participated 
in bullion and other precious metal transactions at international market. with the trade 
volume of bullion reaching 600 ton, the bank further expanded its influence in 
international market. as to the quotation of derivatives, the bank kept its traditional 
advantages in quotation of usd interest rate swap. rmb interest rate swap is a pilot 
business of pbc in 2006. as of 31 december 2006, the market share of the bank ranked 
no. 2 at rmb interest rate swap market. 
development tendency of financial market businesses 
trading volume/ income the year of 2006 the year of 2005 
trading volume of settlement & purchase of cny（usd1 
billion） 
347 308 
bullion trading volume of shanghai gold exchange (ton) 240 160 
trading volume of fx option (usd100 million) 440 352 
local currency proprietary transaction the local currency proprietary transaction of 
the bank increased greatly. thanks to the accurate research and judgment on the market, 
active market participation and timely rang operation. as of 31 december 2006, the 
volume of cash transaction reached rmb 0.7302 trillion, a year-on-year increase of 38 %; 
and the number of cash trades were 8,965, a year-on-year increase of 26%. the bank 
continued to be no. 1 at the market. the market share was nearly 50% at rmb swap 
market. in 2006, the bank maintained its leading position at domestic bullion transaction. 
as of 31 december 2006, its share at shanghai gold exchange (sge), the only gold 
exchange in mainland of china, increased from 33.86% in 2005 to 36.79% in 2006, with 
the transaction volume being the largest at sge. 
treasury operation and bond market business on behalf of customers 
the treasury operation on behalf of customers includes corporate business and private 
business. 
corporate business on behalf of customers mainly includes foreign exchange fund 
82 
management (value-preservation of debt), four-season forward, credit garden and 
rmb structured wealth management products. the development model and product 
design of treasury operation on behalf of customers entered a new phase: all businesses 
reported sound growth. the volume of debt value-preservation on behalf of customers 
reached usd 3 billion, accounting for the largest market share. in addition to active 
marketing, the bank strengthened innovation, and strived to create new profit-growing 
points in agency businesses. the credit garden developed rapidly, with the transaction 
volume reaching usd 30 million. 
foreign exchange wealth management in private business on behalf of customers mainly 
includes huijubao, liangdebao, qiquanbao, personal foreign exchange option, spring – 
summer – autumn – winter. it is a traditional business of the bank, and developed 
steadly in 2006. of them, the wealth management product game had interest-bearing 
fund of rmb 5.4 billion. 
the bank provided itself and corporate customers with financing services by issuing 
local and foreign currencies bonds and arranging syndicated loans at international and 
domestic markets. in 2006, the bank played an active role in issuing and underwriting 
bills at domestic inter-bank bond market. as of 31 december, the bank issued 
short-term bonds with a volume of 22, reached rmb 16.6 billion and participated in 
underwriting short-term bonds with a total underwriting volume of 197, reached rmb 
51.04 billion. 
distribution and custody of fund in 2006, on the basis of maintaining custodian 
customers, the bank further expanded the scale of custodian asset; successfully 
conducted the custody of local social security fund continuously; custody of annuity, 
custody of insurance qdii funds ，made a breakthrough in custody of financial 
institutions’ asset securitisation funds，further strengthened and improved the market 
position and image of our asset custody business. at the end of 2006, total net custodian 
assets of the bank exceeded rmb 0.3 trillion, reaching rmb 0.3428 trillion, double the 
scale at the end of 2005. 
83 
business innovation 
the development of new products and quotation ability is a major competition advantage 
of the bank. results from the continuation of active international and domestic market 
activities, the performance of the bank’s settlement and purchase of foreign exchange, 
local and foreign currencies wealth management was excellent. in 2006, while fully using 
its traditional advantages in foreign exchange, the bank adapted its experience of foreign 
exchange business to its rmb business. the bank designed standard business model for 
entrusted wealth management and concepts of product line “boc value-added wealth 
management”, and developed a series of new products, including asset-backed wealth 
management plan, trust wealth management, bill wealth management, and mini-bonds. 
faced by furious market competition, the bank successfully designed and launched 
foreign exchange wealth management product “credit garden” and rmb wealth 
management product “game”, and took the lead in launching structured wealth 
management products connected with stock and wealth management product connected 
with crude oil at domestic market, providing relatively high investment return for 
investors. during 2006, hexun.com, a domestic professional finance website, granted the 
bank the “best rmb wealth management investment product (rmb)”, in recognition 
the bank’s strength in rmb wealth management products. the personal wealth 
management product “huijubao” was r “best domestic wealth management brand” by 
hexun.com for two consecutive years. in the year, the bank was selected as one of the 16 
quotation banks of shibor, and successfully conducted the first one-year lending and 
borrowing transaction. 
outlook 
in the year of 2007, the macro economic environment and regulatory policies are 
expected to provide ample room for development, while posing new challenges to the 
bank’s financial market businesses. it expects to face more market competition due to 
foreign banks’ advantages in technology, experience and marketing measures. the bank 
shall further expand its financial market business, taking business opportunities in the 
rmb derivatives market, strengthen in local and foreign currencies investment asset 
84 
portfolio management, sufficiently take advantage of the cooperation with strategic 
investors, follow the development trend of international banks and its comparative 
competition advantages, so as to maintain the leading position in competition with other 
banks. 
operations of bochk 
the group conducts commercial banking business in hong kong through its subsidiary 
bank of china (hong kong) limited (“bochk”). as a bank licensed in hong kong 
and with 65.87% of its shares owned by the group, bochk is boc group’s most 
significant overseas operation entity in terms of assets and profit contributions. as of 31 
december 2006, according to the statistics issued by hong kong monetary authority, 
bochk’s total asset reached rmb 922.77 billion. in 2006, bochk achieved net 
profit of rmb 9.115 billion (less minority interest). bochk (holdings) limited, which 
was directly controlled by bochk, was listed on the hong kong exchange stock main 
board since july 2002. 
bochk is one of the three note-issuing banks in hong kong. through its extensive 
service network, bochk offers a comprehensive range of financial products and 
services to its retail and corporate customers. as of the end of 2006, bochk had an 
aggregate of 302 branches, of which 287 branches are located in hong kong, 14 in 
mainland and 1 overseas, with 445 atms in hong kong. in the first half of 2006, 
bochk further extended its business lines and diversified its income base by acquiring a 
51% stake in boc life. 
in 2006, bochk mapped out its strategic focus for the next five years: strengthening its 
leading position in hong kong; enhancing capabilities in products manufacturing and 
distributing; building a stronger presence in the chinese mainland and exploring 
opportunities for regional expansion, and promoting corporate value and core advantage. 

85 
business performance 
capitalising on the vibrant economic growth and buoyant financial markets, in the year of 
2006, bochk delivered the highest operating profit before loan impairment allowances 
and profit attributable to shareholders since its restructuring in 2001 disregard of the 
factor of foreign exchange rate. net interest income and net interest margin increased 
substantially. non-interest income registered steady growth, with outstanding 
performance in both the investment and insurance business. 
attribution of bochk to the group’s net profit 
unit: million rmb/(except %) 
31 dec. 2006 31 dec. 2005 growth volume/ ratio 
net profit 9,115 8,803 312 
proportion to the group’s net 
profit 
21.76% 32.02% -10.26% 
note: net profit after minority interests 
in 2006, bochk actively developed its deposit business while controlling funding cost. 
to meet the various demands of customers, bochk introduced product promotion to 
target segments, resulting in an increase in low-interest and interest-free deposits, as well 
as a more optimized deposit portfolio. with the emphasis on risk management and 
efficiency enhancement, bochk set up operation models for smes development, 
streamlined the business flow and improved customer service efficiency, and launched a 
series of competitive and diversified products in the year, which doubled smes loan 
balance. bochk remained as the leader in the loan syndication markets of mainland, 
hong kong and macau, with a market share of 9.3%. 
bochk was appointed by the pboc in 2003 as the clearing bank of rmb business in 
hong kong and was reappointed in january 2007. bochk has remained a leading 
position in hong kong’s rmb businesses since the rmb-related service was initially 
launched in february 2004 and kept achieving satisfactory results in the area. in 2006, 
rmb deposits in hong kong increased by 1.8 %, and rmb credit card issuance 
86 
increased by 22.7%. personal rmb cheque service that was launched in march 2006 
provided more convenience to customers 
business cooperation and complementary operations between 
boc and bochk 
as one of hong kong’s leading banks, bochk will continue to consolidate its strength 
in the hong kong market and leverage its strong base and platform to grow businesses 
both in the chinese mainland and other regions. boc and bochk together will seek 
to increase their combined market share in the mainland’s banking market. boc believes 
business strategies of bochk are complimentary and consistent with those of boc. 
bochk’ s extensive network and branches in hong kong provide better service for 
customers from chinese mainland. on the other hand, the boc’s network of over 11,000 
branches through out chinese mainland can offer convenient service for the hong kong 
customers of bochk. the cooperation and complementation between bochk and 
boc in areas of corporate banking, retail banking and treasury business has enhanced 
their combined market position in the mainland. 
by 2006, bochk have owned a network of 14 branches and sub-branches operating in 
the chinese mainland, mainly spread along the yangtse rive delta and pearl river delta, 
as well as several major cities along the coastline. with the competitive advantages, these 
domestic branches are able to offer cross-border banking service for customers both from 
hong kong and chinese mainland. 
bochk has announced in early 2007 the adoption of a dualistic approach in its china 
business model. nanyang commercial bank, limited (“ncb”), a wholly-owned 
subsidiary of bochk, is applying to the regulatory authorities of chinese mainland for 
the legal bank registration and will move on full steam to develop banking services on a 
full scale in the mainland with the emphasis on retail banking services. bochk will 
continue to operate its branches in the mainland as foreign banks with focus placed on 
corporate banking and foreign exchange businesses. chiyu banking corporation 
87 
(“chiyu”), another subsidiary of bochk, will also maintain its status of foreign 
subsidiary and continue with its existing operation in china. 
outlook 
in terms of strategic business development, bochk will continue to grow its market 
share in traditional segments like corporate banking and retail banking. it will also 
further strengthen and expand its business platform, enhance product innovation and 
manufacturing capabilities, and ride on the synergy effect through collaboration with 
boc to create sustainable satisfactory returns on equity and to maximize value for 
shareholders. 
(for further details of bochk’s business results and related information, please refer to its annual 
report of the same period.) 
investment banking business 
boc international holdings limited (boci), which specializes in investment banking, is 
a wholly owned subsidiary of bank of china ltd. (boc). boci was founded in hong 
kong on july 10, 1998. it is a china-based world-class investment bank with global 
presence in major financial centers, including new york, london, and singapore. it has 
a well-established sales and distribution network in major cities along the coastal regions 
and inland regions of china, covering beijing, shanghai, guangzhou and chongqing. 
with a team of financial experts, a broad institutional and retail sales network, and a 
global infrastructure, boci is well-positioned to offer its clients with a wide range of 
investment banking products and services, including securities underwriting, mergers and 
acquisitions, financial advisory, sales and trading of equity and fixed income products, 
derivatives and structured products, asset management and private equity investments. 
boci adopted its strategy of “bases in china; faces the world; services across borders” 
in 2006, emphasized on strong corporate governance, focused on its sustainable 
traditional businesses while promoted business innovation. it has been committed to 
shaping a global investment banking culture of “customer-oriented, integrity, team 
88 
work, initiative, and innovation” in an effort to achieve continuous enhancement of its 
core competences. 
business performance 
the after-tax net profit of boci was hk$1.14 billion as of december 31, 2006, a 
year-on-year growth of 293%. 
underwriting and financial advisory boci arranged 7 initial public offering (ipo) 
in 2006 including the ipo of boc, which came out among the top in the league table and 
gained a market share of 12.2% in terms of deal value. 
domestic businesses boci leveraged its china expertise to provide extensive 
investment banking services to the chinese clients. in particular, boci completed a 
number of private placement as well as merger and acquisition projects for the financial 
instructions and leading corporations in china in 2006. 
securities sales and trading boci achieved substantial growth in securities sales and 
trading businesses, both for the primary and secondary markets in 2006. in particular, its 
market share in the hong kong retail stock brokerage market increased 20% from 2005. 
asset management boci, operating via its subsidiary boci-prudential asset 
management limited (boci-prudential), provides comprehensive asset management 
services and a wide range of investment products including the hong kong mandatory 
provident fund (mpf) scheme, pension fund schemes, retail unit trusts, and other 
institutional mandates. as of december 2006, boci-prudential managed over hkd 
28.73 billion of assets (including mpf), representing a year-on-year growth of 12.7% and 
maintained a market share of about 8% in terms of assets under management. 
equity research boci has a team of investment research analysts covering the global 
capital markets. their research capability as well as the depth and quality of product 
offerings are well recognized and highly praised by clients worldwide. 
89 
direct equity in 2006, boci became the equity participant of bohai industry 
investment fund management co., ltd., undertaking the management and operation of 
bohai industry investment fund (biif), with a total size of rmb 20 billion. the 
establishment of biif was a breakthrough of the financial system reform in china, as 
well as a cornerstone of boci’s private equity business. this also represented the leading 
position of boci in china’s rmb industrial investment fund sector. 
outlook 
in 2007, boci will continue to leverage the global operating platform of boc to 
strengthen its leading position in the china as well as to grow further in the global capital 
markets. it is committed to creating values for its clients by providing high quality, 
comprehensive, specialized, standardized and personalized financial products and 
services. 
insurance business 
insurance business is done through the bank’s wholly-owned subsidiary, the bank of china 
group insurance company limited (bocg insurance). the scope of business of the 
bocg insurance includes: property insurance, liability insurance, credit/bond insurance, 
short term health insurance, accident insurance and reinsurance of the above-mentioned 
classes of insurance. bocg insurance develops its business through 6 branches, 3 
wholly-owned subsidiaries (bank of china insurance company limited, eastern pearl 
insurance advisers limited and ford ease investment limited) and 3 associated 
companies (boc group life assurance company limited, luen fung hang insurance 
company limited and dongfeng peugeot citroen auto finance company limited) 
business performance 
since its establishment in hong kong more than a decade ago, the bocg insurance has 
been progressing in a steady pace. it is now in possession of an extensive business 
networks and offering diversified types of insurance. as at 31st december 2006, the assets 
of bocg insurance totaled hk$4.874 billion. for the year 2006, the actual gross premium 
90 
income of bocg insurance totaled hk$1.21 billion with a after tax profit of hk$ 0.76 
billion, a growth of 99.56% over the previous year. 
analysis of gross premium income (gpi) unit: hk$million 
gpi 31 dec. 2006 31 dec, 2005 31 dec. 2004 
total 1,213 1,266 1,398 
in 2006, in the area of product innovation, the bocg insurance actively responded to the 
hksar government’s “user pay” concept in health care reform and introduced a series of 
brand new medical insurance products to cope with market competition and client demand. 
at the same time, it also actively cooperated with the banks in the development of joint 
products such as the student safety insurance scheme. 
in 2006, bocg insurance sold 51% shares to bochk, by which bochk may 
sufficiently develop the edge of the network in hong kang and sustain the boc wealth 
management service more effectively 
business in china mainland 
in line with the business strategy of bocg insurance and one of the initiatives of expanding 
its business in mainland china, bocg insurance has set up a fully owned subsidiary 
company, bank of china insurance company limited in china. at present the latter has 
already established 4 branch companies. in 2006, bank of china insurance company 
limited strived under the operation objective of becoming one of the best insurance 
companies in china by building up a best insurance brand name with advanced skills and 
quality service. the aggregated actual gross premium income for the year was rmb125.81 
million a growth of 95.86% and increased of rmb 61.57 million over the past year. 
in 2007, it is estimated that there will be a continuous increase of competition bodies in the 
mainland insurance market and the challenge will be more intense. bank of china 
insurance company limited will take positive steps to transform its foreign capital status 
and make good use of every opportunity that comes by. it will endeavour to enhance its 
risk management ability, business support capability and efficiency to establish a highly 
91 
effective service system to cope with the demand from business development and 
competition, in order to maintain a leading role in the china’s insurance market. 
outlook 
in the face of a highly competitive insurance market the bocg insurance will strive to 
explore new development channels while at the same time reinforcing its traditional business. 
it aims at elevating the service standards and professional skills and further extending its 
overseas business market. it will also make use of the bank of china insurance company 
limited to gain access to major mainland cities where the bank’s network is presently 
available. 
bocg investment 
the bank is engaged in direct investments and investment management business, through 
our wholly-owned subsidiary, bank of china group investment limited (“bocgi”), which 
was incorporated in hong kong in 1984. as the only professional investment management 
company within boc group, bocgi primarily aims at implementing boc’s overall 
development strategy. its major business includes corporate equity investment, distressed 
assets investment, fixed assets investment, management and lease and property management 
services. 
business operation 
as of december 31st, 2006, bocgi had a total asset of hk$42.289 billion with an after tax 
profit of hk$1.49 billion, which increased by 38% compared with the same period of 2005. 
in 2006, bocgi had been vigorously expanding its business and succeeded in establishing 
alliances in different areas with major investment banks, professional funds, assets 
management companies, the mainland’s government authorities and other strategic partners. 
meanwhile, bocgi did not hesitate to make every effort to achieve innovations and explore 
different business modes to support its business development. 
the same year, bocgi took part in organizing the first contractual-type rmb industrial 
92 
fund in china, namely “bohai industrial investment fund”, by which not only opened up 
opportunities for the boc group to establish close strategic relations with growing 
enterprises of high potential, but also consolidated and strengthened the core competitiveness 
of the boc group. 
in 2006, bocgi successfully completed the acquisition of singapore aircraft leasing 
company through its wholly-owned subsidiary, sky splendor, which was incorporated 
in cayman islands. the acquisition provided a platform for the boc to enter the aircraft 
leasing industry. with this platform, we not only provided aircraft operating leasing, asset 
management and structured financing services to the airlines companies but achieved 
synergies by securing more business in lending, intermediate services, investment banking 
and insurance in the aviation industry. consequently, our presence could be further elevated 
by differentiating ourselves from competitors with the group international, global and 
diversified business characteristics. 
outlook 
looking into 2007, bocgi will strive to become a company of growth which has 
appropriate asset size, reasonable investment portfolio, high capital liquidity, strong profit 
making ability and stable investment returns. as a result, bocgi will be one of the key 
profit sources contributing to the overseas diversified business development of the boc 
group. 
risk management 
overview 
in 2006, the bank achieved steady progress in the development of its risk management 
system, and further improved the risk management ability and infrastructure with a view 
to promote independency, centralization and professionalism in our risk management. 
we seek to maintain a moderate risk appetite and a balance between risk and return in a 
rational, stable and prudent manner. our primary risk management objectives are to 
93 
maximize value for our shareholders, maintain risk within acceptable parameters and 
satisfy the requirements of the regulatory authorities, our depositors and other interest 
groups for our bank’s prudent and stable development. 
the guiding principles in developing our risk management framework include: 
a. compliance with legal and regulatory requirements: rigorously following the laws 
and regulations, stipulations and guidelines of regulatory authorities, compliance and 
stable operating is a precondition of effective implementation of risk management. 
b. achieving an appropriate equilibrium between risk and return: through active control 
of the profits and loss, each kind of business should gain profits matching with the 
risk it bears at least. 
c. relative independence: risk management is independent of business department; 
being independent of business development; risk management objectively identify, 
measure and control risks existing in business development, based on independent 
risk management institutions and personnel. 
d. strict accountability: clarifying the responsibilities through rigorous internal control 
mechanism. 
e. alignment: ensuring the objective of risk management complies with that of business 
development and preserving unified risk management strategy. 
f. sufficient disclosure: banks have the responsibility of providing risk information for 
the supervisory authorities or disclose the information to the public in accordance 
with the regulatory requirements. 
through the further improvement of our risk management infrastructure, we seek to 
achieve the following objectives: extending our risk management framework to all of our 
business departments, branches and subsidiaries; ensuring that risks inherent in our 
various lines of business are effectively managed; establishing a pervasive risk 
management culture; developing comprehensive and integrated risk management 
procedures, policies and processes; and utilizing appropriate risk management tools to 
94 
identify, monitor and quantify our risks. 
risk management framework 
the risk management framework of boc is mainly composed of board of directors and 
the risk policy committee under the board, internal control committee, 
anti-money-laundering committee, asset-liability management committee and asset 
disposal committee under the senior management, risk management department, 
credit administration department, asset & liability department and law & compliance 
department. the head office manages the risks in branches through the vertical 
management model, the risk in business departments through windows management 
model, and monitors and controls the risks in subsidiaries by appointing certain members 
of the boards of directors or risk management committees of the subsidiaries. 
credit risk management 
overview 
credit risk is the risk that a customer or counter party may be unable or unwilling to meet 
an obligation that it has entered into with us. the major credit risks are mainly from loans, 
trading financing and treasury businesses. 
in 2006, as part of our ongoing efforts to improve the centralized credit approval system, 
the pilot institutions of the centralized credit approval system are running smoothly, most 
of the chief credit officers of tier one branches have been in place and the first batch of 
the authorized credit application approvers has been appointed and authorized by the 
head office. to further enhance the efficiency of credit approval of our important good 
quality customers and set up the “green pass” for them, we initiate hierarchy management, 
assigning special due diligence person for each of our important good quality customer, 
and draft and implement lending guideline. to support our business development, we 
carry out “the guideline of smes credit policy” and “the rules of smes credit 
management”, and initiate the pilot in several branches. 
in 2006, the bank further improved credit management of group customer. we amended 
95 
and issued the rules of group customers management of boc. we enhanced the ability 
to identify group customers by collecting all the groups and their members’ information 
into a list, renewing the list upon requests, including the group information into it system 
and specifying classification criteria of group customers. we also enhance the analysis of 
latent high-risk group customers with the characteristics of large loan scale, frequent 
capital operations, family management, bad corporate governance, and non transparent 
information etc, and analyze how to improve the monitoring of such customers.. 
in 2006, the bank further improved credit rating of corporate customer through our 
ten-category customer credit rating system, which forms overall judgement on credit 
status of customers based on analysis of various criteria including the customer’s 
solvency, profitability, operating and management indicators, credit record, market 
outlook, development potential and quality of financial information etc., to assess its 
worthiness. any assignment of a “b” or higher credit rating under our ten-category 
customer rating system is required to be reviewed and approved either by our domestic 
tier one branches or our head office. as of 31 december 2006, the outstanding loans 
extended to borrowers with a credit rating “a” accounted for approximately 45.2% of the 
total loans outstanding of the rated corporate customers at our domestic institutions, 3.3 
percentage points higher than that of december 31, 2005. we have developed a new 
statistically-based corporate borrower rating model, which focuses on the probability of 
default by a borrower, and have completed the back testing of the model to improve its 
performance. 
for your better understanding and assessment of credit risk the bank is taking, we will 
hereafter illustrate the distribution, quality and impairment loss reserve of the loan 
portfolio respectively. 
distribution of loans 
loan concentrations by geographic region 
at the end of 2006, domestic operations accounted for 81.75% of the total loan portfolio of the 
group, and the overseas operations accounted for 18.25%. domestic loans were mainly 
96 
concentrated in the east china, and central and south china, respectively accounting for 
41.22% and 24.41% of the total domestic loan portfolio. in 2006, loans in eastern region and 
central and southern region achieved relatively high growth rate, increasing rmb99.68 billion 
and rmb40.42 billion respectively. 
distribution of loans of the group 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
domestic 
institutions 1,988,121 81.75% 1,799,923 80.53% 1,734,302 80.80% 1,746,644 80.96% 
overseas 
institutions 443,685 18.25% 435,123 19.47% 412,160 19.20% 410,829 19.04% 
total 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
note: in 2006, the bank transferred the impaired loans with the amount of rmb 2.07 billion from the 
overseas institutions. the transferred impairment loans, together with the provision of rmb 1.85 
billion are adjusted in the section of management discussion and analysis for the convenience of 
comparison. such adjustment is involved in the following information disclosed. 
geographic structure of domestic loans 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
north 
china 348,596 17.53% 322,451 17.91% 313,843 18.10% 352,284 20.17% 
north 
east 
china 135,906 6.84% 131,430 7.30% 128,374 7.40% 138,831 7.95% 
east 
china 819,434 41.22% 719,759 39.99% 679,773 39.19% 621,900 35.61% 
central 
& south 
china 485,285 24.41% 444,869 24.72% 433,860 25.02% 453,863 25.98% 
west 
china 198,900 10.00% 181,414 10.08% 178,452 10.29% 179,766 10.29% 
total 1,988,121 100.00% 1,799,923 100.00% 1,734,302 100.00% 1,746,644 100.00% 
note: to improve the recovery and disposal of the npls, we centralized npls with the amount of 
rmb 12.64 billion from 7 of our domestic branches to the head office, namely heilongjiang, jilin, 
liaoning,hubei, shannxi, shanxi,and xinjiang branch. for the convenience of comparison, such 
npls and related provision are adjusted in the section of management discussion & analysis. such 
adjustment is involved in the following information disclosed. 

97 
loan concentration by industry and product 
in the year of 2006, china continues with the macro-economic control policy. the bank 
tightened the credit criteria of the overheated industries, examined the credits status in 
high- risk industries, and emphasized on monitoring the existing credits. our credit 
business in those industries that are comparatively largely influenced by the 
macro-economic control, such as real estates, develops smoothly, the industrial structure 
is optimized and overall asset quality is improved. 
distribution of the loans of the group 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
corporate loans 
manufacturing 602,865 32.61% 531,191 31.02% 523,508 31.68% 558,916 31.51% 
commerce 
and services 301,254 16.29% 301,863 17.63% 348,432 21.09% 430,993 24.29% 
real estate 217,960 11.79% 190,297 11.12% 187,110 11.32% 216,734 12.22% 
energy, 
mining and 
agriculture 260,706 14.10% 230,854 13.48% 203,544 12.32% 188,821 10.64% 
transportation 211,786 11.45% 193,428 11.30% 184,449 11.16% 174,669 9.85% 
public utilities 106,141 5.74% 91,924 5.37% 87,731 5.31% 75,465 4.25% 
construction 38,897 2.10% 36,050 2.11% 36,059 2.18% 44,548 2.51% 
financial 
services 72,909 3.94% 96,245 5.62% 46,518 2.82% 48,261 2.72% 
others 36,544 1.98% 40,191 2.35% 35,070 2.12% 35,673 2.01% 
sub-total 1,849,062 100.00% 1,712,043 100.00% 1,652,421 100.00% 1,774,080 100.0% 
personal loans 
mortgage 
loans 456,930 78.41% 413,007 78.97% 360,595 72.99% 275,303 71.81% 
credit cards 8,458 1.45% 6,785 1.30% 5,973 1.21% 4,944 1.29% 
others 117,356 20.14% 103,211 19.73% 127,473 25.80% 103,146 26.90% 
sub-total 582,744 100.00% 523,003 100.00% 494,041 100.00% 383,393 100.00% 
total 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 

98 
industry distribution of domestic loans 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
corporate loans 
manufacturing 555,819 35.99% 490,898 34.57% 497,317 35.96% 528,296 35.39% 
commerce 
and services 255,787 16.56% 255,460 17.99% 284,772 20.59% 366,279 24.54% 
real estate 113,589 7.35% 96,390 6.79% 100,932 7.30% 127,368 8.53% 
energy, 
mining and 
agriculture 240,314 15.56% 210,281 14.81% 186,942 13.52% 169,948 11.39% 
transportation 182,398 11.81% 165,396 11.65% 157,762 11.41% 149,580 10.02% 
public utilities 105,933 6.86% 91,924 6.47% 87,731 6.34% 75,465 5.06% 
construction 34,676 2.25% 30,089 2.12% 27,938 2.02% 34,539 2.31% 
financial 
services 53,333 3.45% 77,237 5.44% 32,079 2.32% 36,873 2.47% 
others 2,692 0.17% 2,290 0.16% 7,484 0.54% 4,277 0.29% 
sub-total 1,544,541 100.00% 1,419,965 100.00% 1,382,957 100.00% 1,492,625 100.0% 
personal loans 
mortgage 
loans 337,834 76.16% 286,829 75.49% 240,640 68.49% 159,314 62.72% 
credit cards 2,876 0.65% 1,929 0.51% 1,441 0.41% 931 0.37% 
others 102,870 23.19% 91,200 24.00% 109,264 31.10% 93,774 36.91% 
sub-total 443,580 100.00% 379,958 100.00% 351,345 100.00% 254,019 100.0% 
total 1,988,121 100.00% 1,799,923 100.00% 1,734,302 100.00% 1,746,644 100.00% 
loan concentration by currencies 
loan of the group 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
rmb 1,692,980 69.62% 1,477,859 66.12% 1,378,760 64.23% 1,320,889 61.22% 
foreign 
currencies 738,826 30.38% 757,187 33.88% 767,702 35.77% 836,584 38.78% 
total 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 

99 
domestic loans 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
rmb 1,688,414 84.93% 1,475,821 81.99% 1,378,343 79.48% 1,320,635 75.61% 
foreign 
currencies 299,707 15.07% 324,102 18.01% 355,959 20.52% 426,009 24.39% 
total 1,988,121 100.00% 1,799,923 100.00% 1,734,302 100.00% 1,746,644 100.00% 
loan concentration by types of guarantee 
loans of the group by types of guarantee 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
unsecured 536,080 22.05% 475,764 21.29% 447,800 20.86% 369,632 17.13% 
guaranteed 731,759 30.09% 684,824 30.64% 650,905 30.32% 804,132 37.27% 
collateralized 
and pledged 1,163,967 47.86% 1,074,458 48.07% 1,047,757 48.82% 983,709 45.60% 
total 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
domestic loans by types of guarantee 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
unsecured 432,874 21.77% 368,944 20.50% 364,935 21.04% 290,503 16.63% 
guaranteed 632,985 31.84% 600,323 33.35% 581,996 33.56% 735,849 42.13% 
collateralized 
and pledged 922,262 46.39% 830,656 46.15% 787,371 45.40% 720,292 41.24% 
total 1,988,121 100.00% 1,799,923 100.00% 1,734,302 100.00% 1,746,644 100.00% 
concentrations by maturity 
group unit: rmb million/except percentages 
dec. 31,2006 dec. 31,2005 
balance proportion balance proportion 
overdue 87,331 3.59% 77,846 3.48% 
due less than 1 year（1 
year included） 1,081,992 44.49% 1,177,419 52.68% 
100 
due between 1 and 5 
years（5 years included） 642,817 26.43% 518,316 23.19% 
due more than 5 years 619,666 25.49% 461,465 20.65% 
total 2,431,806 100.00% 2,235,046 100.00% 
note: for purposes of this table, loans to customers are considered overdue only if principal payment 
is overdue. in addition, for loans to customers that are repayable by installments, only the portion of 
the loan that is actually overdue is reported as overdue. any part of the loan that is not due is reported 
according to residual maturity. 
domestic unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 
balance proportion balance proportion 
overdue 82，548 4.15% 72,837 4.05% 
due less than 1 year（1 
year included） 953，495 47.96% 1,062,790 59.04% 
due between 1 and 5 
years（5 years included） 464,060 23.34% 340,366 18.91% 
due more than 5 years 488,018 24.55% 323,930 18.00% 
total 1,988,121 100.00% 1,799,923 100.00% 
note: for purposes of this table, loans to customers are considered overdue only if principal payment 
is overdue. in addition, for loans to customers that are repayable by installments, only the portion of 
the loan that is actually overdue is reported as overdue. any part of the loan that is not due is reported 
according to residual maturity. 
loan concentration by borrower 
we emphasize on the risk control of borrower concentration. we are currently in 
compliance with regulatory requirements on borrower concentration. 
main regulatory ratios criteria dec. 31,2006 dec. 31,2005 dec. 31,2004 
proportion of outstanding 
loans of largest single 
borrowers (%) 
≤10 2.2 4.7 3.4 
top ten customers ratio (%) ≤50 15.7 25.6 25.4 
note：proportion of outstanding loans of largest single borrowers = total outstanding loans to the 
largest single borrowers / net regulatory capital 
top ten customers ratio= total outstanding loans to the top ten customers/ net regulatory 
capital 
the following table sets forth our largest ten single borrowers as of the date indicated. 

101 
unit: rmb million/except percentages 
dec. 31, 2006 
industry outstanding principal 
amount % of total loans 
customer a commerce and services 10,366 0.43% 
customer b 
energy, mining and 
agriculture 9,604 0.39% 
customer c transportation 8,306 0.34% 
customer d commerce and services 7,909 0.33% 
customer e 
energy, mining and 
agriculture 7,850 0.32% 
customer f transportation 6,814 0.28% 
customer g transportation 6,548 0.27% 
customer h commerce and services 6,127 0.25% 
customer i 
energy, mining and 
agriculture 5,315 0.22% 
customer j transportation 5,080 0.21% 
total 73,919 3.04% 
loan quality 
five-category loan classification 
the bank generally measure and manage the quality our credit assets based on the loan 
classification principles issued by cbrc, which requires chinese commercial banks to 
classify their loans into the following five asset quality categories: pass, special-mention, 
substandard, doubtful and loss, among which loans classified in the “substandard”, 
“doubtful” and “loss” categories are non-performing loans. for our overseas operations, 
if applicable local regulations and requirements are more prudent than the loan 
classification principles, we classify our credit assets according to local regulations and 
requirements. 
in 2006, the bank amended the management rules of loan classification and continued 
centralizing the responsibility for approving corporate loan classification to our head 
office and domestic tier one branches. when the loans are classified, we sufficiently take 
into account of various factors that will affect loans quality and focus on the criterion of 
“the probability of asset reclamation and the extent of loss ”. to get a loan’s final risk 
classification, we should perform a standard process as initially classifying, checking, 
reviewing by our internal rating specialists, and approving by our authorized loan 
classification approvers. the loan category of a corporate customer may be revised when 
102 
there are significant changes to the customer or its loan’ risk status. 
as of december 31, 2006, boc group reported npl of rmb 98.22 billion, and npl 
ratio of 4.04%, representing a decrease of rmb 5.01 billion and 0.58 percentage point as 
to the prior year end respectively. domestic npl and npl ratio was 95.82 billion, and 
4.82%, respectively decreasing rmb 2.39 billion and 0.64 percentage point as to the 
prior year end. 
in 2006, we work out “management rules of domestic special-mention loans” to 
enhance the risk categorizing management and monitoring of special-mention loans, and 
achieved encouraging progresses. as to the low-risk special-mention loans, we take 
practical measures to control the risk. as to the high-risk special-mention loans, we 
improve the credit terms, reduce credit limits and even reclaim loans in advance. as to 
those qualified for the standard of npls, we downgraded them to npl in time. as at the 
end of 2006, the outstanding special-mention loan was rmb 198.15 billion, a drop of 
rmb 85.9 billion compared with the last year end, and accounted for 8.15% of the total 
loan portfolio with a 4.56 percentage points down from the last year end. 
five-category loan classification of loans of the group 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
pass 2,135,441 87.81% 1,847,772 82.67% 1,611,936 75.10% 1,491,281 69.12% 
special-mention 198,145 8.15% 284,048 12.71% 424,606 19.78% 314,968 14.60% 
substandard 39,390 1.62% 45,573 2.04% 61,289 2.86% 63,088 2.92% 
doubtful 44,100 1.81% 44,550 1.99% 32,931 1.53% 116,032 5.38% 
loss 14,730 0.61% 13,103 0.59% 15,700 0.73% 172,104 7.98% 
total 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
npl 98,220 4.04% 103,226 4.62% 109,920 5.12% 351,224 16.28% 

103 
five-category loan classification of domestic loans 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
pass 1,703,695 85.69% 1,430,210 79.46% 1,227,414 70.77% 1,142,995 65.44% 
special-mention 188,604 9.49% 271,504 15.08% 408,571 23.56% 284,400 16.28% 
substandard 38,517 1.94% 44,056 2.45% 57,656 3.32% 56,160 3.21% 
doubtful 43,119 2.17% 42,852 2.38% 29,787 1.72% 110,159 6.31% 
loss 14,186 0.71% 11,301 0.63% 10,874 0.63% 152,930 8.76% 
total 1,988,121 100.00% 1,799,923 100.00% 1,734,302 100.00% 1,746,644 100.00% 
npl 95,822 4.82% 98,209 5.46% 98,317 5.67% 319,249 18.28% 
in 2006, we mainly recovered and disposed non-performing loans by various normal 
methods, including demand for payment, legal proceedings, arbitration and restructuring 
etc. 
overdue loans 
group unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
not 
overdue 2,313,252 95.12% 2,108,575 94.34% 2，024，261 94.31% 1,850,938 85.79% 
overdue 
1-90 days 44,336 1.83% 50,450 2.26% 65,540 3.05% 24,086 1.12% 
91-180 
days 8,957 0.37% 14,012 0.63% 15,842 0.74% 10,448 0.48% 
more than 
180 days 65,261 2.68% 62,009 2.77% 40,819 1.90% 272,001 12.61% 
total 
overdue 
loans 118,554 4.88% 126,471 5.66% 122,201 5.69% 306,535 14.21% 
total 
loans 2,431,806 100.00% 2,235,046 100.00% 2,146,462 100.00% 2,157,473 100.00% 
overdue 
by more 
than 90 
days 74,218 3.05% 76,021 3.40% 56,661 2.64% 282,449 13.09% 
note: for purposes of this table, loans to customers are considered overdue if either principal or 
interest payment is overdue. for loans to customers that are repayable by installments, if any portion 
of the loan is overdue, the whole amount of that loan is classified as overdue. 

104 
domestic unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
not overdue 1,876,184 94.37% 1,681,891 93.44% 1,624,844 93.69% 1,464,882 83.87% 
overdue 
1-90 days 39,307 1.98% 47,587 2.64% 61,930 3.57% 19,167 1.10% 
91-180 days 8,625 0.43% 13,643 0.76% 15,261 0.88% 9,164 0.52% 
more than 
180 days 64,005 3.22% 56,802 3.16% 32,267 1.86% 253,431 14.51% 
total 
overdue 
loans 111,937 5.63% 118,032 6.56% 109,458 6.31% 281,762 16.13% 
total loans 1,988,121 100.00% 1,799,923 100.00% 1,734,302 100.00% 1,746,644 100.00% 
overdue by 
more than 90 
days 72,630 3.65% 70,445 3.92% 47,528 2.74% 262,595 15.03% 
note: for purposes of this table, loans to customers are considered overdue if either principal or 
interest payment is overdue. for loans to customers that are repayable by installments, if any portion 
of the loan is overdue, the whole amount of that loan is classified as overdue. 
identified impaired loans 
under accounting policies of the group, loans and advances to customers are considered 
impaired, and we recognize losses on loans and advances, if there is objective evidence of 
impairment resulting in a measurable decrease in estimated future cash flows from loans 
and advances. 
movement of identified impaired loans 
as of december 31, 2006, boc group reported identified impaired loan of rmb 103.02 
billion, a decrease of 6.29 billion as to last year end. the group impaired loan ratio was 
4.24%, down 0.65 percentage point year-on-year. domestic operations reported identified 
impaired loan of rmb 98.44 billion, a decrease of rmb 3.70 billion as to last year end. 
domestic impaired loan ratio was 4.95%, down 0.72 percentage point. overseas 
operations reported impaired loan of rmb 4.58 billion, a decrease of rmb 2.59 billion 
as to last year end. overseas impaired loan ratio was 1.03%, down 0.62 percentage point. 
movement of identified impaired loans 
105 
group unit: rmb million 
31 dec. 2006 31 dec. 2005 31 dec. 2004 31 dec. 2003 
balance at the beginning of the year 109,311 118,157 357,786 427,229 
increase during the year 41,929 41,190 76,583 45,762 
reduction during the year -48,221 -50,036 -316,212 -115,205 
balance at the end of the year 103,019 109,311 118,157 357,786 
domestic unit: rmb million 
31 dec. 2006 31 dec. 2005 31 dec. 2004 31 dec. 2003 
balance at the beginning of the year 102,140 104,327 323,820 355,345 
increase during the year 40,924 39,721 74,077 37,632 
reduction during the year -44,628 -41,908 -293,570 -69,157 
balance at the end of the year 98,436 102,140 104,327 323,820 
identified impaired loans by region 
group unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan 
ratio 
amount % 
of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
domestic 
operations 98,436 95.55% 4.95% 102,140 
93.44 
% 5.67% 104,327 
88.29 
% 6.02% 323,820 
90.51 
% 18.54% 
overseas 
operations 4,583 4.45% 1.03% 7,171 6.56% 1.65% 13,830 
11.71%
3.36% 33,966 
9.49 
% 8.27% 
total 
103,019 
100.00 
% 4.24% 109,311 
100.00 
% 4.89% 118,157 
100.0 
0% 5.50% 357,786 
100.0 
0% 16.58% 
note: loans to customers are considered impaired, and we recognize losses on loans and advances, if there is objective 
evidence of impairment resulting in a measurable decrease in estimated future cash flows from loans and advances. 
domestic identified impaired loans by geographic region 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
amount % of 
total 
impaired 
loan ratio 
amount % of total impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
north 
china 18,718 19.02% 5.37% 17,699 17.33% 5.49% 22,600 21.66% 7.20% 67,140 20.73% 19.06% 
northea 
st china 12,460 12.66% 9.17% 12,363 12.10% 9.41% 13,170 12.62% 10.26% 36,213 11.18% 26.08% 
east 
china 24,269 24.65% 2.96% 27,811 27.23% 3.86% 28,595 27.41% 4.21% 91,087 28.13% 14.65% 
central 
and 
south 
china 28,008 28.45% 5.77% 30,611 29.97% 6.88% 26,611 25.51% 6.13% 98,759 30.50% 21.76% 
west 
china 14,981 15.22% 7.53% 13,656 13.37% 7.53% 13,351 12.80% 7.48% 30,621 9.46% 17.03% 
total 98,436 100.00% 4.95% 102,140 100.00% 5.67% 104,327 100.00% 6.02% 323,820 100.00% 18.54% 

106 
domestic identified impaired loans by industry and product 
domestic identified corporate impaired loans by industry 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
amount % of 
total 
impaired 
loan ratio
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaire 
d loan 
ratio 
manufacturing 33,910 38.19% 6.10% 32,969 35.59% 6.72% 32,218 33.38% 6.48% 126,743 40.18% 23.99% 
commerce 
and services 22,579 25.42% 8.83% 25,443 27.46% 9.96% 26,344 27.29% 9.25% 122,784 38.93% 33.52% 
real estate 10,710 12.06% 9.43% 12,763 13.77% 13.24% 13,453 13.93% 13.33% 22,060 6.99% 17.32% 
energy, 
mining and 
agriculture 6,153 6.93% 2.56% 6,665 7.19% 3.17% 6,588 6.82% 3.52% 19,619 6.22% 11.54% 
transportation 8,258 9.30% 4.53% 7,759 8.37% 4.69% 9,729 10.08% 6.17% 7,349 2.33% 4.91% 
public 
utilities 4,523 5.09% 4.27% 4,627 4.99% 5.03% 5,564 5.76% 6.34% 6,019 1.91% 7.98% 
construction 2,322 2.61% 6.70% 2,226 2.40% 7.40% 2,569 2.66% 9.20% 5,190 1.65% 15.03% 
financial 
services 187 0.21% 0.35% 215 0.23% 0.28% 72 0.07% 0.22% 3,618 1.15% 9.81% 
others 171 0.19% 6.35% 0 0.00% 0.00% 6 0.01% 0.08% 2,015 0.64% 47.11% 
total 
corporate 
impaired 
loans 88,813 100.00% 5.75% 92,667 100.00% 6.53% 96,543 100.00% 6.98% 315,397 100.00% 21.13% 
domestic identified retail impaired loans by product 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
mortgage 
loans 4,100 42.60% 1.21% 3,837 40.50% 1.34% 3,608 46.35% 1.50% 3,003 35.65% 1.88% 
credit cards 219 2.28% 7.63% 228 2.41% 11.82% 218 2.80% 15.13% 262 3.11% 28.14% 
others 5,304 55.12% 5.16% 5,408 57.09% 5.93% 3,958 50.85% 3.62% 5,158 61.24% 5.50% 
total retail 
impaired 
loans 9,623 
100.00 
% 2.17% 9,473 100.00% 2.49% 7,784 100.00% 2.22% 8,423 
100.00 
% 3.32% 
identified impaired loans by customer type 
group identified impaired loans by customer type 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaire 
d loan 
107 
ratio 
corporate 
loans and 
advances 92,024 89.33% 4.98% 9 8,669 90.26% 5.76% 108,004 91.41% 6.54% 345,346 96.52% 19.47% 
personal loans 
and advances 10,995 10.67% 1.89% 10,642 9.74% 2.03% 10,153 8.59% 2.06% 12,440 3.48% 3.24% 
total 
103,019 
100.00 
% 4.24% 109,311 
100.00 
% 4.89% 118,157 100.00% 5.50% 357,786 
100.00 
% 16.58% 
domestic identified impaired loans by customer type 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan 
ratio 
corporate 
loans and 
advances 88,813 90.22% 5.75% 92,667 90.73% 6.53% 96,543 92.54% 6.98% 315,397 97.40% 21.13% 
personal 
loans and 
advances 9,623 9.78% 2.17% 9,473 9.27% 2.49% 7,784 7.46% 2.22% 8,423 2.60% 3.32% 
total 98,436 
100.00 
% 4.95% 102,140 100.00% 5.67% 104,327 100.00% 6.02% 323,820 
100.00 
% 18.54% 
identified impaired loans by currency 
group unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan 
ratio 
rmb 86,816 84.27% 5.13% 87,980 80.49% 5.95% 84,469 71.49% 6.13% 204,638 57.20% 15.49% 
foreign 
currencies 16,203 15.73% 2.19% 21,331 19.51% 2.82% 33,688 28.51% 4.39% 153,148 42.80% 18.31% 
total 103,019 
100.00 
% 4.24% 109,311 100.00% 4.89% 118,157 100.00% 5.50% 357,786 
100.00 
% 16.58% 
domestic unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan 
ratio 
rmb 86,816 88.20% 5.14% 87,980 86.14% 5.96% 84,469 80.97% 6.13% 204,638 63.19% 15.50% 
foreign 
currencies 11,620 11.80% 3.88% 14,160 13.86% 4.37% 19,858 19.03% 5.58% 119,182 36.81% 27.98% 
total 98,436 
100.00 
% 4.95% 102,140 100.00% 5.67% 104,327 100.00% 6.02% 323,820 
100.00 
% 18.54%
108 
identified impaired loans by assessment basis 
group unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
individually 
assessed 81,730 79.33% 83,242 76.15% 89,768 75.97% 260,241 72.74% 
collectively 
assessed 21,289 20.67% 26,069 23.85% 28,389 24.03% 97,545 27.26% 
total impaired 
loans of the 
group 103,019 100.00% 109,311 100.00% 118,157 100.00% 357,786 100.00% 
domestic unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
individually 
assessed 
78,409 79.65% 78,309 76.67% 81,747 78.36% 241200 74.49% 
collectively 
assessed 
20,027 20.35% 23,831 23.33% 22,580 21.64% 82620 25.51% 
total impaired 
loans of the 
group 
98,436 100.00% 102,140 100.00% 104,327 100.00% 323820 100% 
provision for impairment losses on loans 
the bank assesses impairment losses timely and sufficiently in accordance with prudent 
and actual principles. provision for impairment losses on loans consists of two 
components, individually assessed provision and collectively assessed provision. for a 
further discussion of accounting policy of impairment losses, please refer to the appendix 
iii 9 of the balance sheet. 
movements in provision for impairment losses on loans 
as of the end of december, 2006, boc group’s provision for impairment losses 
achieved rmb 94.29 billion, representing an increased of rmb 11.14 billion from last 
year end, with impaired loss to impairment loan coverage ratio up 15.46 percentage 
109 
points to 91.53%. in 2006, we made provision for impairment losses of rmb 11.69 
billion, increasing rmb 0.80 billion from last year, with the credit cost ratio of 0.50% ,as 
same as of last year. domestic provision for impairment losses attained rmb 90.16 
billion, representing an increased of rmb11.97 billion from last year end, with impaired 
loan coverage ratio up 15.04 percentage points to 91.59%. in 2006, we made provision 
for domestic impairment losses of rmb 14.98 billion, increasing rmb 0.13 billion from 
last year, with the domestic credit cost ratio 0.79%, down 0.05 percentage point from that 
of last year. 
group unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance at beginning of year 83,153 74,769 236,342 315,893 
impairment losses for the year 11,687 10,888 22,793 14,701 
loans and advances written off 
or transferred -3,684 -4,783 -186,873 -62,007 
amounts recovered of loans and 
balances written off in previous 
years 3,589 2,954 2,507 731 
exchange currency converting 
differences -452 -675 － － 
transfer to capital reserve － － － -32,976 
balance at end of year 94,293 83,153 74,769 236,342 
domestic unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance at beginning of year 78,193 67,158 221,061 273,662 
impairment losses for the year 14,975 14,844 25,907 15,934 
loans and advances written off 
or transferred -2,798 -3,421 -180,333 -35,675 
amounts recovered of loans and 
balances written off in previous 
years 83 120 523 116 
exchange currency converting 
differences -293 -508 － － 
transfer to capital reserve － － － -32,976 
balance at end of year 90,160 78,193 67,158 221,061 
provision for impairment losses by region 

110 
group unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan 
ratio 
domestic 
operations 90,160 95.62% 91.59% 78,193 94.04% 76.55% 67,158 89.82% 64.37% 221,061 93.53% 68.27% 
overseas 
operations 4,133 4.38% 90.18% 4,960 5.96% 69.17% 7,611 10.18% 55.03% 15,281 6.47% 44.99% 
total 94,293 
100.00 
% 91.53% 83,153 100.00% 76.07% 74,769 100.00% 63.28% 236,342 
100.00 
% 66.06% 
provision for domestic identified impaired loans by region 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan 
ratio 
north china 
13,338 20.88% 71.26% 10,624 19.64% 60.03% 9,697 22.87% 42.91% 40,399 19.72% 60.17% 
north china 7,903 12.37% 63.43% 7,020 12.98% 56.78% 5,903 13.92% 44.82% 23,789 11.61% 65.69% 
east china 13,530 21.18% 55.75% 12,482 23.07% 44.88% 10,803 25.48% 37.78% 57,269 27.96% 62.87% 
central and 
south china 19,495 30.52% 69.61% 16,929 31.29% 55.30% 10,675 25.18% 40.11% 64,730 31.60% 65.54% 
west china 9,614 15.05% 64.17% 7,044 13.02% 51.58% 5,322 12.55% 39.86% 18,669 9.11% 60.97% 
total 63,880 
100.00 
% 64.89% 54,099 100.00% 52.97% 42,400 100.00% 40.64% 204,856 
100.00 
% 63.26% 
provision for domestic identified corporate impaired loans by industry 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan 
ratio 
manufacturing 22,018 38.67% 64.93% 17,341 35.71% 52.60% 14,130 36.39% 43.86% 79,467 39.78% 62.70% 
commerce 
and services 14,759 25.93% 65.37% 13,630 28.07% 53.57% 10,791 27.79% 40.96% 82,282 41.18% 67.01% 
real estate 5,937 10.43% 55.43% 5,647 11.63% 44.25% 3,310 8.52% 24.60% 12,474 6.24% 56.55% 
energy, 
mining and 
agriculture 4,092 7.19% 66.50% 3,473 7.15% 52.11% 2,726 7.02% 41.38% 10,480 5.24% 53.42% 
transportation 6,100 10.72% 73.87% 5,500 11.32% 70.89% 5,572 14.35% 57.27% 3,444 1.72% 46.86% 
public utilities 2,419 4.25% 53.48% 1,877 3.87% 40.57% 1,635 4.21% 29.39% 3,860 1.93% 64.13% 
construction 1,430 2.51% 61.58% 1,003 2.06% 45.06% 647 1.67% 25.18% 3,545 1.77% 68.30% 
financial 
services 100 0.18% 53.48% 93 0.19% 43.26% 15 0.04% 20.83% 2,741 1.37% 75.76%
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others 70 0.12% 40.94% 0 0.00% 0.00% 3 0.01% 50.00% 1,539 0.77% 76.38% 
total 56,925 
100.00 
% 64.10% 48,564 100.00% 52.41% 38,829 100.00% 40.22% 199,832 
100.00 
% 63.36% 
provision for domestic loan impairment losses by customer type 
unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan ratio 
amount % of 
total 
impaired 
loan 
ratio 
provision for 
corporate 
loans 71,234 79.01% 80.21% 60,267 77.07% 65.04% 49,135 73.16% 50.89% 206,875 93.58% 65.59% 
provision for 
personal loans 18,926 20.99% 196.67% 17,926 22.93% 189.23% 18,023 26.84% 231.54% 14,186 6.42% 168.42% 
total 90,160 
100.00 
% 91.59% 78,193 100.00% 76.55% 67,158 100.00% 64.37% 221,061 
100.00 
% 68.27% 
provision for impairment losses by assessment basis 
group unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
provision for 
individually 
assessed identified 
impaired loans 53,846 57.10% 45,738 55.01% 35,699 47.75% 153,810 65.08% 
provision for 
collectively 
assessed identified 
impaired loans 12,735 13.51% 12,009 14.44% 12,614 16.87% 63,601 26.91% 
provision for 
collectively 
identified 
non-impairment 
loans 27,712 29.39% 25,406 30.55% 26,456 35.38% 18,931 8.01% 
total 94,293 100.00% 83,153 100.00% 74,769 100.00% 236,342 100.00% 
domestic unit: rmb million/except percentages 
31 dec.2006 31 dec.2005 31 dec.2004 31 dec.2003 
balance proportion balance proportion balance proportion balance proportion 
provision for 
individually 
assessed identified 
impaired loans 
51,269 56.86% 42,720 54.64% 31,539 46.96% 142,924 64.65% 
provision for 
collectively 
assessed identified 
12,610 13.99% 11,379 14.55% 10,861 16.17% 61,932 28.02%
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impaired loans 
provision for 
collectively 
identified 
non-impairment 
loans 26,281 29.15% 24,094 30.81% 24,758 36.87% 16,205 7.33% 
total 
90,160 100.00% 78,193 100.00% 67,158 100.00% 221,061 100.00% 
market risk management 
overview 
market risk is the risk of loss in on and off-balance-sheet positions arising from 
movement in market prices (interest rates, exchange rates, equity prices and commodity 
prices). market risk exists in both trading and non-trading businesses of the bank. the 
principal types of market risk for our bank are interest rate risk and exchange rate risk. 
we expect to be subject to increasing levels of market risk as the chinese government 
continues to deregulate regulations governing on interest and exchange rates. 
we are exposed to market risk primarily through the assets and liabilities on our balance 
sheet, as well as our off-balance sheet businesses. in accordance with regulatory 
requirements, we categorize our assets and liabilities as belonging to either trading book 
or banking book. our trading book primarily consists of positions in financial instruments 
and commodities we hold either with trading intent or in order to hedge risks of other 
elements of the trading book. our banking book consists of positions in financial 
instruments not included in the trading book (including positions in financial instruments 
we purchased using our excess funds for investment purposes, i.e. investment book). 
in 2006, we integrate our market risk management function and set up an independent 
market risk management team under risk management department to be responsible for 
group market risk management. 
in 2006, we drew up market risk management policy of boc and clarifying the 
organizational structure, procedures, risk measurement, limit setting and reporting of 
market risk management. based on the regulatory requirements as well as practices of 
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internationally active banks in market risk management, we set up our own market risk 
limit structure and improve on our market risk indicator system according to our current 
business practice, it system and management structure status. on top of that, we set up 
our market risk limit for 2006. in addition, we have established market risk reporting 
process to integrate market risk information, conduct effective monitoring and analysis of 
market risk limit utilization, and submit reports to senior management.. 
market risk management of the trading book 
the bank managed market risk of trading book primarily through setting up overall var 
and stop loss limit on the trading book and allocating the stop loss limit to each trading 
desk, establishing position limit and stop loss limit for each trading desk and trader. 
traders can only trade those instruments which meets certain standards (ex. liquidity). 
the bank monitors the var, position and stop loss limits of traders on a daily basis. 
value at risk (var) is the possible loss in the normal market condition, given the 
specified time horizon and confidence. the bank is using one day time horizon and 95% 
confidence to calculate the var for the domestic trading book. the chart below shows the 
var of the domestic foreign exchange (not including investment book or banking book) 
trading book as of 31december 2006 and 2005: 
unit: rmb million 
as of 31 dec. 2006 as of 31 dec. 2005 
period end average high low period end average high low 
interest rate risk 1.79 2.71 16.25 0.54 4.77 3.27 11.94 0.20 
risk of foreign 
exchange rate 0.81 2.99 14.12 0.39 12.84 2.70 18.69 0.34 
fluctuation risk 0.13 0.79 6.19 0.07 0.36 0.80 2.54 0.04 
total volume of 
market risk 2.07 5.64 19.15 0.86 15.06 5.10 18.86 0.69 
we also use information technology systems, such as kondor+, bloomberg pts, 
derivatech, summit, and riskmetrics, to measure, analyze, monitor and manage the 
market risks of our treasury operations. our kondor+ system currently covers our major 
overseas branches and most of our treasury products. in addition, we introduce in the 
bloomberg pts system to monitor the positions and mark-to-market fixed income 
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products and their derivatives, the derivatech and summit systems to price, value and 
monitor our risk exposure in derivative products, and the riskmetrics system to generate 
var reports and stress testing reports. these systems have helped us monitor the market 
risk exposure in our treasury operations. 
the bank has established the global risk control network to monitor and control the risk 
in the investment book and the trading book. the head office directly monitor treasury 
business of domestic branches. the bank is also continuously improving the capability of 
the back office, especially the independent pricing verification based on market value of 
the financial instrument. 
market risk management for the banking book 
primary market risk for our banking book is interest rate risk. interest rate risk arises 
mainly from mismatches between the maturities or re-pricing periods of the assets and 
liabilities of our banking book. we assess the interest rate risk of the banking book 
primarily through gap analysis. gap analysis measures the difference between the amount 
of interest-bearing assets and interest-bearing liabilities that mature or must be re-priced 
within certain periods. we also use the data generated by the gap analysis to perform 
sensitivity analysis and stress testing, which provide us with guidance in adjusting the 
re-pricing period structure of the interest-bearing assets and interest-bearing liabilities. 
meanwhile, we closely follow the local and foreign currency interest rate trend and adjust 
the interest rates of local and foreign currency deposits and loans in a timely manner to 
avoid the interest rate risk. 
during the year of 2006, the benchmark rates of rmb deposits were raised in august and 
those of rmb loans were increased both in april and august. the appreciation of rmb 
interest rate, as a whole, was beneficial to the bank’s financial results of 2006, although 
the cumulative rmb interest rate sensitivity gap of the bank within one year remained 
negative in 2006. the main reason is that the yield of loans was increased while the cost 
of deposits remained unchanged due to the rmb interest rate adjustment in april. in 
addition, the interest rate of rmb demand deposit, which accounted for over 40% of the 
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total rmb deposits, was not changed in august. the u.s. federal reserve raised the 
federal funds target rate for four times in january, march, may and june. the rising usd 
interest rates were favorable to the financial results of the bank although the cumulative 
usd interest rate sensitivity gap of the bank within one year was basically negative in 
2006. the main reason is that the interest rates of usd deposits in an amount less than 
usd 3 million were unchanged in domestic operations. the usd deposits in an amount 
less than usd 3 million accounted for over 80% of the total domestic usd deposits. 
the group’s interest rate sensitivity gap under ifrs was as follows as of december 31, 
2006 and december 31, 2005. 
unit: rmb million 
up to 1 
month 
1 to 3 
months 
(incl.) 
3 to 12 
months 
(incl.) 
1 to 5 years 
(incl.) 
above 5 
years 
non 
interest-bea 
ring 
december 31, 2006 -1,127,311 220,794 591,503 347,020 341,294 39,656 
december 31, 2005 -894,734 33,843 464,652 402,985 241,871 6,902 
note: interest rate sensitivity gap = interest rate sensitive assets - interest rate sensitive liabilities 
the bank’s interest rate sensitivity gap was as follows as of december 31, 2006 and 
december 31, 2005. 
unit: rmb million 
up to 1 
month 
1 to 3 
months 
(incl.) 
3 to 12 
months 
(incl.) 
1 to 5 years 
(incl.) 
above 5 
years 
non 
interest-bea 
ring 
december 31, 2006 -928,376 155,514 547,218 267,636 246,984 66,418 
december 31, 2005 -828,023 40,274 423,374 323,711 195,677 48,800 
by the end of 2006, the gap of the group below 1 month was negative and the gaps 
within other time bands were positive. the gap below 1 month was negative because a 
substantial amount of the demand deposits were placed in the time bucket of below 1 
month. the gap within all the other time bands were positive because the interest-bearing 
assets were more than interest-bearing liabilities in those time periods. 
assuming the yield curves of all the currencies shift parallel 100 basis points at the 
beginning of 2007, the net interest income of the group will decrease rmb6.82 billion. 
assuming the yield curves of all the currencies shift down 100 basis points at the 
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beginning of 2007, the net interest income of the group will increase rmb6.82 billion. 
this analysis was based on the static gap at the end of 2006 and did not take into 
consideration the asset-liability business development in 2007 and the changes of 
customer behavior due to the interest rate changes. 
the rmb interest rate liberalization was carried forward steadily in 2006. some 
commercial banks launched rmb fixed-rate residential mortgage loans. the rmb 
interest rate derivative markets including swap market became active gradually. in 
particular, the formal appearance of shibor on january 4, 2007 laid a foundation to 
establish china’s money market benchmark rate system, which will further accelerate the 
rmb interest rate liberalization in the near future. under such circumstances, the bank 
has begun to improve the interest rate pricing system and enhance pricing capability by 
developing and popularizing loan rate pricing model step by step. in addition, the bank 
closely followed the potential risk arising from the new businesses and products and 
started to consider the possibility of hedging interest rate risk by rmb interest rate swap. 
market risk management of the investment book 
senior management reviews and approves the investment guideline of the investment 
book annually based on the market risk management policy and the market risk limit 
approved by the board (rpc). the investment guideline covers the market risk limit, the 
size of the investment portfolios, authorized products, duration, issue concentration limit 
and the minimum rating requirement, etc. business departments should strictly comply 
with the investment guideline, and will be monitored and examined by the independent 
risk management team. the bank has been improving its risk management ability 
continuously. we manage market risk of investment book mainly through monitoring 
var and pvbp and stress testing of investment portfolio currently. 
risk of exchange rate 
the bank’s management of exchange rate risk covers non-trading accounts and trading 
accounts. non-trading exchange rate risk mainly arises from foreign exchange capital, 
foreign currency profit and loss, and investment in overseas subsidiaries. the bank seeks 
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to reduce the foreign exchange rate risk by matching the sources and utilization of our 
funds on a currency-by-currency basis. in addition, we also manage and control exchange 
risk through settlement or hedging transaction. trading exchange rate risk mainly comes 
from the foreign exchange transaction the bank is engaged in. the bank tries to control 
the foreign exchange position within the limit required according to its risk tolerance and 
operating capability. 
please refer to financial review for details of foreign exchange position of the bank in 
2006. 
liquidity risk 
summary 
liquidity risk relates to the risk of funding availability at an appropriate cost when 
required to meet obligation payment and asst business growth. the objective of our 
liquidity risk management is to ensure that all the branches/outlets maintain appropriate 
liquidity to meet the demand of normal operations; and are able to raise enough funds at 
reasonable prices within certain periods to ensure payments in the case of emergency or 
business development opportunity. 
the banks liquidity risk is managed on a consolidated basis at the head office. the 
policies of liquidity management and the scaling standard of risk are holding unified. on 
the prudential basis, the bank’s related programs are formulated by considering the 
factors such as availability of financing in the market. 
our asset liquidity management policies are intended to encourage diversification, the 
realization ability of assets, and to hold an appropriate level of high liquid assets portfolio; 
the policies relating to liabilities are intended to increase the proportion of core deposits, 
to maintain the stability of liabilities and financing ability. 
our liquidity management process considers operations under normal circumstances, as 
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well as emergency measures under abnormal circumstances. under normal business 
environment, the bank regularly updates its internal liquidity management guidelines and 
liquidity ratios, proactively manages its cash positions and inter-branch fund transfers, 
and establishes a liquid asset portfolio to ensure steady cash inflows. in addition, we 
established the funding forecast system to manage against potential liquidity crisis, with 
ongoing focus on movements in position, the performance of scenario analysis, and the 
consideration of crisis management issues. 
in 2006, the bank’s liquidity is sufficient in general with staggered deficient. the market 
conditions posed challenges to our liquidity management：first, since the second half of 
2006, the growth of new rmb deposits slowed down because of the continuing recovery 
of the stock market, while loans growth maintained at a fast pace, which resulted in a 
liquidity pressure; second, huge funds inflows and outflows happened in the course of 
frequent new shares issuing; third, the central bank mainly implemented tightening 
monetary policies in order to control the fast increase of loan granting. the central bank 
increased benchmark interest rate twice, raised the statutory deposit reserve ratio three 
times, and issued special bills4 four times. 
in this situation, we constantly improved our liquidity management ability, proactively 
managed our bank’s liability structure, shortened the duration of bonds investment 
portfolio. we managed to maintain the proper liquidity level to meet the normal business 
needs. 
regulatory indicators on liquidity at the end of 2006, all indicators related to the 
bank’s liquidity conditions met regulatory requirements as table below: (liquidity ratio is 
the indicator of the group; loan/deposit ratio and the excess reserve ratio are the 
indicators of mainland china) 

119 
main regulatory ratios regulatory 
standard 31 dec. 2006 31 dec. 2005 31 dec. 2004 
rmb ≥25 37.7 48.9 35.3 
liquidity ratio (%) foreign 
currency ≥25 64.1 87.4 78.6 
rmb ≤75 57.6 51.7 59.6 
loan/deposit ratio (%) foreign 
currency ≤85 70.1 70.4 67.9 
excess reserve ratio (%) rmb 2.8 3.0 3.7 
foreign 
currency 25.8 16.9 13.4 
note : liquidity ratio = current assets / current liabilities; liquidity ratio is calculated in accordance 
with the relevant provisions of the people's bank of china and china banking regulatory 
commission, and the financial data are based on the accounting standard for business enterprises 
and the accounting systems for financial institutions. 
loan-to-deposit ratio = outstanding loans / outstanding deposits 
excess reserve ratio for rmb=(reserve excess the legal standard +cash)/ (balance of deposits+ 
remittance payables) 
excess reserve ratio for foreign currency=(reserve excess the legal standard +cash＋due from banks＋ 
due from overseas sub-branches and subsidiaries)/balance of deposits. 
liquidity gap analysis 
we assess the liquidity risk status through liquidity gap analysis. we monitored and 
calculated liquidity gap periodically (balance between the assets and liabilities which 
mature at the same period ), and made sensitivity analysis and stress tests on the basis of 
the gap data. 
as of december 31, 2005 and december 31, 2006, liquidity gap status under ifs gaap 
was as follows : 
(the detailed accounting report is in iii 7 of notes to the financial statements iii 7). 
group unit: rmb million 
overdue on 
demand 
up to 1 
month 
1-3 
months 
3-12 
months 1-5 years over 5 
years 
total 
31 dec.2006 48,753 -1,883,614 -678 55,733 44,077 1,066,568 1,086,975 417,814 
31 dec.2005 40,453 -1,636,947 -11,987 -74,823 170,479 967,589 807,856 262,620 
note : liquidity gap=assets matured in a certain period - liability matured of the same period 
by the end of 2006, the gap of due on demand and up to 1 month is negative, the gap in 
4 special bills is a kind of bills which is issued to certain financial institutions. 
120 
the remaining period is positive. since the percentage of current deposits is 40% to the 
total amount of deposits, following in consequence the high percentage of current 
liability to the total liability, the gap of due on demand is negative gap. the 
above-mentioned negative gap will not lead a great amount of cash outflows because our 
current deposit is very stable. the balance of assets in the remaining periods all exceeded 
the balance of liabilities, so the gap is positive. 
internal control and operational risks 
internal control of three lines of defense in order to push internal control 
function to the business and enhance risk management, boc reengineered internal 
control process and established three lines of defense of internal control. 
all the institutions, business departments and staffs of boc take the responsibility of 
internal control as well as developing business. the first line of defense is the executer of 
rules and regulations. they shall realize self-control through self-assessment, 
self-inspection, self-improvement and self-training. 
legal and compliance department and business departments are responsible for making 
overall plan for establishing internal control regulations, directing, examining, monitoring 
and assessing the work of first line of defense, and play the role of second line of defense. 
the second line of defense aims at realizing standard, canonical, regulatory and scientific 
internal control management, and establishing an internal control mechanism integrating 
educating, pre-alarm, prevention, encouragement and punishment. 
auditing department is responsible for reviewing and assessing the adequacy and 
effectiveness of boc’s operating activities, risk management, internal control and 
corporate governance with a systematic and standard method, and play the role of the 
third line of defense. the third line of defense aims at assisting the board and 
management perform their duties, providing assurance as to the adherence to national 
economic and financial laws, policies and regulations, and improving the operating 
efficiency, effectively controlling risks, and increasing bank’s value. 
121 
operational risks 
operational risk (or) refers to the risks caused by inadequate or improper internal 
process, staff and system or external events. the work implemented in 2006 as follows: 
in order to improve the work of operational risks management (orm), boc cooperated 
with rbs in orm project, and stipulated fundamental orm rules according to boc’s 
practices. 
the bank formulated operational risk and control assessment (raca) working 
process and conducted its pilot, and planned to rollout such process in domestic branches 
in 2007. this process can help the business lines get timely informed of the riskprofile 
and risk exposure by regularly identifying and assessing the risks and controls of the key 
business processes with a standard method. 
meanwhile, the bank stared to study key risk indicator working process of or, initially 
drafted a part of kri of or, and started the monitoring and guidance on branches’orm 
work. 
the bank tested the fulfillments of cbrc’s notice of strengthening or prevention work 
and examined of business or prevention, and took corresponding actions to solve the 
problems found in accordance with the assessment result and test result. 
internal audit 
as the third defense line of internal control of the bank, the internal audit is the 
independent and objective confirmation and consultation of the bank under the lead of 
the board of directors and the audit committee. on the principle of improving operation 
of the bank and creating values, the risk-oriented internal audit aims at assisting the 
board, the audit committee and the senior management on the performance of duties, 
and employs systematic and standard approaches to provide audit services including audit 
confirmation, internal control evaluation, consultation and anti-frauds to promote the 
122 
accomplishment of goals. 
in 2006, the bank adopted vertical and integrated management model in internal audit, 
and promoted the vertical management of the head office over the audit institutions in 
respect of human resources, finance and functions. the audit work of the bank was 
reported to the board or the audit committee authorized by the board, and to the 
management in respect of administration. 
independence, professionalism and authority of the audit system 
in 2006, the audit committee of the board engaged independent external institutions to 
conduct an overall evaluation on the audit work of the bank. in consideration of the 
evaluation results and supervisory requirements, and in accordance with the international 
standards and best practices of internal audit, the bank established a special work team 
under the lead of the board, the audit committee and the senior management, which 
studied and prepared a comprehensive plan on the improvement of internal audit in boc 
involving all aspects such as organizational structure, management system, policies and 
regulations, and technologies, and steadily implemented the plan according to the pre-set 
schedule upon the approval of the board. the bank completed the separation of 
inspection and audit functions in the year and established an independent audit 
department, which clarified its functions, reporting route and organizational structure. 
the department updated the audit regulations and set up a vertical and integrated audit 
management model. meanwhile, in order to meet the requirements of new audit functions 
on the staff expertise, the bank engaged internal audit professionals of world-known 
accounting firms to hold special and centralized trainings for more than 600 auditors of 
the bank. through the above measures, the bank further strengthened the management of 
internal audit in terms of its independency, professionalism and authority. 
enhanced depth and width of internal audit inspection 
focusing on the target of continuously improving the effectiveness of internal control, the 
bank continued to further deepen internal audit inspections and attached great importance 
to high-risk areas and the improvement on weak links of internal control in 2006. the 
123 
bank has completed 5 internal audit projects at the head office, 23 projects in tier one 
branches or the branches directly controlled by the head office (a coverage of 72%) and 
12 projects at overseas institutions or the affiliated companies (a coverage of 42%). 
meanwhile, the bank devoted most audit resources to the internal control inspection on 
grassroots operations, and has completed regular internal audit on 254 tier two branches 
(a coverage of 88 %), 2,171 sub-branches in urban regions (a coverage of 57%) and 3,228 
sub-branches in counties (a coverage of 50%), 775 special audit projects, 1132 leave 
audit projects, and 83 investigations on individual cases. 
anti-money laundering 
in 2001, the bank established the anti-money laundering working committee, which 
serves as the highest decision making body of the group. according to the provisions set 
forth in rules for anti-money laundering working committee of the bank, the main 
functions of the committee are as follows: 
. to formulate the anti-money laundering policy through discussion in response to 
changes of domestic and overseas legal environment and policy environment as well as 
the development trend in anti-money laundering; 
. to arrange the work of anti-money laundering, put forth handing programs to 
major and unexpected events, and supervise the implementations. 
domestic and overseas institutions of the bank have also established anti-money 
laundering teams in charge of their respective work of anti-money laundering and under 
the leadership and supervision of the anti-money laundering working committee. 
to standardize the group’s work on anti-money laundering and combating financing of 
terrorism, the bank, based on laws and regulations in anti-money laundering of the 
people’s republic of china, has formulated the policy of bank of china limited on 
anti-money laundering and combating financing of terrorism, which adequately 
embodies the basic international requirements of combating money laundering and 
financing of terrorism for financial institutions. in the meanwhile, the bank endeavored 
to increase the quality of data acquisition through advanced science and technology 
measures, and the upgrade and reconstruction of relevant it systems are in an orderly 
124 
way to further strengthen the anti-money laundering technologically. 
in full consideration of relevant laws and regulations of the country or region where 
boc’s overseas branches located, the bank has implemented risk evaluation on 
anti-money laundering in overseas institutions in the year to have a comprehensive 
knowledge of their progress in anti-money laundering. based on the evaluation results, 
the bank has monitored and guided these branches. 
in respect of anti-money laundering, a relatively comprehensive system, regulations and 
staff framework have been established. the scale of anti-money laundering system 
basically meets the requirements of regulatory authority for risk control. the bank has 
implemented its responsibilities strictly on anti-money laundering. 
capital management and funding transfer pricing 
the group’s capital management framework is mainly comprised of three parts: capital 
adequacy ratio (car) management, capital funding management and economic capital 
allocation. thereinto, the primary management objective is to keep our car at proper 
level, and capital funding management and economic capital allocation are two necessary 
ways by which to achieve the car target. 
objective of capital management 
the objective of the group’s capital management is to ensure that the group maintains 
sufficient capital at proper level, consistent with all applicable regulatory standards and 
guidelines, desired credit ratings by leading rating agencies, risk compensation, and 
requirements from stockholders, through effective budgeting of various type of capital; 
and to fully utilize capital investment instruments and capital allocation measures to 
continuously upgrade the capital’s financial effectiveness, enhance the capital stock value, 
and ultimately maximize stockholders’ value based on risk control. 

125 
car management 
car is the most important criteria to measure a bank’s stabilization and capacity to 
withstand risks. in order to fully safeguarding car’s role as cushion against risk, the 
group adopts delaminated targets for expected car level. first, in no time should the 
minimum level of the group’s car level be less than the regulatory required 8%level. 
second, the group will stipulate and maintain the target range of car level. based on 
the risk situation faced by the group, the group will ascertain prudential level of car as 
its target for enhancement, after taking into consideration of car levels of international 
peers and the group’s operating situations, and the ascertained car level will be the 
group’s target. 
the group uses stress test to predict, design and manage car level. the scenarios 
involved in the stress test mainly include business developing situations, fluctuations of 
major risk exposures, changes of exchange rates for injected capital currencies, and other 
significant affecting factors. 
the group calculates and discloses car level in line with regulation governing capital 
adequacy of commercial banks, promulgated by cbrc on 23feb 2004 (cbrc order 
issuance no. [2004]2). since 2005, the group calculates market risk capital in 
accordance with the notice of cbrc general office on release of calculation tables 
and notes for market risk capital requirements for commercial banks (yinjianfa 
no.[2004]374). in 2006, the group’s car level has risen significantly. one major reason 
is the increase in the group’s core capital due to boc’s ipos on hong kong and 
shanghai markets. another reason is that the group’s foreign exchange exposure has 
shrunk substantially, and hence market risk capital requirement decreased. by the end of 
2006, the group’s car level is 13.59%, up 3.17 percentage points from the year end 
before last; core car level is 11.44%, up 3.36 percentage points. 

126 
unit: rmb million/exception percentages 
as of december 31 
2006 2005 2004 
core capital: 
share capital 253,623 209,427 186,390 
capital reserve 126,916 25,795 21,276 
minority interests 29,560 28,778 27,387 
total core capital 410,099 264,000 235,053 
supplementary capital 
general provisions 28,315 25,677 24,881 
long-term subordinated debt issued 60,000 60,000 26,070 
others (2,439) (1,380) (2,315) 
gross value of supplementary 
capital 85,876 84,297 48,636 
total capital before deductions 495,975 348,297 283,689 
deductions： 
goodwill (1,875) 0 0 
investments in the 
non-consolidated financial institutions (4,371) (2,877) (1,399) 
investments properties (5,141) (5,697) (5,228) 
investments in non-financial 
institutions (13,226) (13,486) (6,585) 
total capital based after deductions 471,362 326,237 270,477 
core capital based after deductions 396,855 252,970 228,447 
risk-weighted assets: 
on-balance-sheet risk-weighted 
assets 2,758,602 2,456,160 2,400,695 
off-balance-sheet risk -weighted 
assets 421,560 337,029 292,808 
total risk-weighted assets 3,180,162 2,793,189 2,693,503 
risk-weighted assets and market risk 
adjustment: 3,469,017 3,131,002 2,693,503 
capital adequacy ratio 13.59% 10.42% 10.04% 
core capital adequacy ratio 11.44% 8.08% 8.48% 
capital funding management 
the primary objectives of capital funding management is to keep the group’s car level 
within the target range, through timely and proper capital funding management, with a 
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view to keeping the group operating smoothly. the objectives should be fulfilled through 
vigorous budgeting and operating resources from accounting capital, regulatory capital 
and economic capital. the capital funding management should fulfill demands for paying 
dividend, stabilizing share price, maintaining car level, and serving economic capital 
allocation needs. 
the capital funding strategy stresses that capital funding should be in compliance with 
international practice and regulatory requirements. it should be helpful to broaden capital 
replenishment channels, and to consolidate financial structure’s flexibility. in terms of its 
implementation, the group puts much emphasis on optimizing the capital structure to 
restrain cost of capital funding. the effort is also put on currency-optimization with the 
aim of minimizing exchange risk, and reducing the impact of rmb’s appreciation on 
car. it is also important to match term structures of the group’s assets and liabilities, 
thus helping to reduce liquidity risk and interest rate risk within our balance sheet. the 
capital funding should effectively control the funding cost. 
economic capital allocation 
the group developed its economic capital allocation process on a trial basis among 
several domestic branches in year 2004. the group formally started to implement the 
process among all domestic provincial branches in 2005. the economic capital allocation 
process calculates each branch’s relevant economic capital requirements according to its 
actual risk-taking, and adopts risk-adjusted return on capital (raroc) and economic 
value added (eva) to assess each branch’s performance, the formulae of which are 
raroc= risk-adjusted profits / economic capital charge × 100% 
eva = risk-adjusted profit – cost of economic capital 
cost of economic capital = economic capital charge×hurdle rate 
in 2006, the group has designed and launched boceca system, fulfilling the task of 
monitoring, analyzing and assessing the economic capital performance for different 
levels of domestic operations. the risk type covered by economic capital will be 
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expanded from merely credit risk into credit risk, market risk and operational risk. 
the primary objective of economic capital allocation is to keep return and risk matched 
with each other. it is inappropriate to stress either on increasing income alone or on just 
controlling risk. through calculating and monitoring economic capital performance, 
management at different levels raised awareness of cost of risk and cost of capital. the 
match between reward and risk has been markedly improved. economic capital allocation 
has not only enhanced coverage ratio of capital on risk exposures, but also enhanced the 
earning capability of risk and return on capital. 
capital management in the future 
we’ll streamline the process of capital management timely and continuously so as to 
enhance its positive role in banking management. in order to strengthen our capital base 
and provide which as support for sustainable growth of our business, we will stick with 
effective capital adequacy ratio management, capital funding management and economic 
capital allocation. 
funds transfer pricing 
funds transfer refers to all forms of internal fund trading among entities (including the 
head office, domestic and overseas branches and subsidiaries) within the bank. in 2005, 
the bank adopted the concept and principle for management by funds transfer pricing 
(ftp) and started to explore the use of ftp as a means to optimize resources allocation, 
reduce operating cost and increase returns. in 2006, the bank formulated the guidance 
to boc ftp, which clarified the objectives, pricing mechanism and transferring rules of 
ftp as well as the direction for the bank’s internal fund management. the major 
objectives for the bank’s ftp policies are as follows: 
(a) to centralize to the head office treasury the management functions of liquidity risks 
and market risks embedded in banking book so as to build a bank-wide “centralized 
funding pool”. by adding interest rate risk information to ftp price, the treasury 
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removes interest rate risks in banking book from business units (such as branches and 
departments) so that these business units could make sure that their profits will not be 
affected by the uncertainties caused by fluctuations of interest rate and thus could 
concentrate on their own operation. after these risks are centralized and transferred to the 
head office treasury, the treasury will use hedging instruments to control the risks 
effectively, reducing the fluctuations of the bank’s profits caused by the uncertainties of 
interest rate. 
(b) to provide a benchmark for performance evaluation as per branches, departments, 
products and customers, and to provide a common ground for product profitability 
assessment so that objectivity could be ensured in the process of profitability comparing. 
(c) to pass on the head office’s management signals in a right way and provide a correct 
guidance for the operations of business units so that the bank could maintain continual 
growth. 
in 2006, the multi-duration-matched method was used for the ftp of business segments 
report. in the mean time, currency and duration-matched fund support was provided for 
syndicated loans of overseas branches. as a result, the new ftp method can help to 
strengthen the bank’s asset and liability management as well as fund management. 
organizational information, human resources management and 
development 
organizational information 
as of 31december 2006, the bank had 11,241 domestic and overseas branches and 
outlets, a reduction of 405 from the beginning of 2006. there were 37 tier one branches, 
283 tier two branches and 10,277 outlets in domestic operation, and 643 branches, 
subsidiaries and representative offices in overseas operation. 
the following table presents the geographic breakdown of the domestic outlets by the 
end of 2006. 
130 
dec 31, 2006 
outlets ratio 
northern china 1,625 15.3% 
northeastern china 931 8.8% 
eastern china 3,539 33.4% 
central and southern 
china 2,856 26.9% 
western china 1,647 15.5% 
total 10,598 100.00% 
process integration and organization reform 
in 2006, the bank actively pushed forward process integration and organization reform. 
the bank’s corporate and personal loans were all centralized to the head office and 
tier-one branches for approval. perceptible progress has been made in the centralization 
of the functions of post monitoring, clearing, finance management, cash delivery, bill 
exchange, bill processing and account reconciliation between companies and the bank. 
the internal control system was reformed and improved with the establishment of the 
three defending lines, which included function management, internal control and 
compliance and internal audit to ensure the adequacy and effectiveness of internal control. 
the internal audit system started to exercise vertical line management. cros and cfos 
were dispatched to tier-one branches. the business line management was further 
strengthened. 
clarifying the overall goal of business structure and process reengineering. the general 
framework of business architecture and process integration was formulated. it stressed 
on an intensive and centralized reform direction, with the synchronized implementation 
of it blueprint and business process integration. the bank planned to realize its goals of 
a customer-centered business and management process, a bank-wide general ledger, 
logically centralized business processing, strengthened line management and enhanced 
product innovation within two or three years. 
pushing forward institutions integration. in 2006, the bank further adjusted its branch 
network. some small branches and outlets with poor development potential were closed. 
new branches and outlets were established in key cities and areas, to optimize and 
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rationalized the bank’s entire branch network distribution. 
human resources management and development 
the bank recognizes that the key to a company’s success is talented staff and regards its 
employees as the fundamental driving force behind a company’s growth and development. 
therefore, the bank sticks to the principle of ‘people first’ to create every opportunity 
possible for the staff to tap their talent, so that everyone can do their best in a harmonious 
environment. bank of china strives to be the best choice for employees to realize their 
dream and actualize their value. human resource strategy as an important part of the 
bank’s overall development strategy is playing an important role in the bank’s 
development. 
the staff profile 
as the end of december 2006, the bank had 232, 6325 employees (including 40,620 
dispatch contractors working in domestic institutions), of which 20,204 were local staff 
of overseas branches and subsidiaries. in 2006, there were 7,278 retirees whose expense 
should be borne by the bank. 
the profile of domestic staff in terms of age, education and professions 
category detailed distribution number of 
employees 
percentage 
below 30 28,928 16.84％ 
between 31 and 40 95,831 55.78％ 
between 41 and 50 40,617 23.64％ 
between 51 and 60 6,317 3.68％ 
age 
above 60 115 0.06％ 
holders of master degree and above 2,883 1.68re ％ 
bachelor degree holders 64,231 37.39％ 
5 the number is calculated according to the new 38 accounting standard issued by mof in 2006 
132 
associate degree or professional training 
certificate holders 
71,639 41.70％ 
others 33,055 19.23％ 
corporate finance 18,151 10.56％ 
personal finance (tellers excluded) 16,088 9.36％ 
financial market 1,338 0.78％ 
operation services 25,256 14.71% 
financial management and accounting 12,099 7.04％ 
risk management, internal audit and legal 
and compliance 
10,086 5.87％ 
management（note 1） 4,331 2.52％ 
professions 
others（note 2） 84,459 49.16％ 
note 1: this category includes deputy general managers of tier-two branches, the deputy general 
managers of functional departments in tier-one branches and team heads (included) in head 
office and the above managerial personnel. 
2: this category includes front line staff, administrative staff and other supporting staff. 
deepening human resources management reform and improving incentive and 
accountability mechanism 
in 2006, the bank further improved the market-based human resources management 
mechanism, which is in line with modern commercial bank’s operation. 
pursuant to its development needs and business strategy, the bank has taken steps to 
establish a position-based, performance-oriented human resources mechanism. for 
domestic institutions, the bank established new position classification system and staff 
recruitment policies, adopted the practice of competition-based appointment, 
strengthened staff allocation and structural adjustment, streamlined the new employee’s 
recruitment standards, centralized staff recruitment, and fostered the specialized human 
resources practitioners’ development. 
the bank continued to improve its performance management by establishing and 
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implementing a staff performance management system focused on “balanced score 
card” and “performance process management”. performance evaluation, which had been 
relied solely on post-appraisal and results grading, was virtually changed to an all-round, 
full process based performance management system. sound performance management 
culture is being built up, which contribute to represent the bank’s core value of 
“performance led, effective incentive, value creation and sustainable development ”. 
steadily pushing forward the remuneration management reform. the enterprise annuity 
plan was widely deployed, which further improved the staff welfare scheme. 
strengthening talents development 
in 2006, sticking to the theme of “fully implementing the scientific approach of 
development and persistently building a labor force characterized by honesty, 
creditworthiness, professionalism, innovation and collaboration”, the bank developed a 
set of training plans for all levels of employees, such as middle and senior managerial 
personnel, core talents and front line staff, to strengthen the development of three types of 
employees, namely managerial personnel, professionals and operational staff. 
the bank attached great importance to the development of middle and senior managerial 
personnel by developing leadership model, establishing rudimentary, intermediate and 
advanced leadership courses, actively cooperating with our strategic investors and 
introducing rbs senior management programs, cooperating with harvard business 
school to develop the leadership programs for our senior management, and organizing 
core emba courses to upgrade the training for all levels of managerial personnel. 
the bank also laid emphasis on the training of front line staff by way of, in light of its 
business strategy, organizing various technical and professional training programs to 
strengthen the development of core talents and front line staff. the bank prioritized the 
nurturing of risk management professionals, personal wealth management managers and 
corporate customer managers. the bank also organized group-wide training and tests for 
front line employees, such as full-skilled tellers, outlet service guide, wealth manager and 
outlet manager, and the test pass rate reached 97.9%. to support the building of 
compliance and internal control mechanism, the bank established compliance testing 
134 
questions pool and organized the second round of legal and compliance testing on all 
employees, in which over 200, 000 employees took part, and the pass rate was 99.25%. 
in china financial education development fund’s appraisal of research results of the 
year 2006, the bank won three awards for its achievements in training and development: 
“bank of china’s e-training system” was credited the first prize in distance education 
category; “bank of china’s series training materials for front line staff” was credited the 
second prize for publication category; and “commercial bank’s marketing training 
materials” received the excellent publication prize. 
strengthening corporate culture 
the bank realizes that a corporation could not survive and develop without a strong and 
healthy corporate culture. in 2006, the bank pushed forward the building of its corporate 
culture by all means. the core values with the distinctive characteristics of boc were 
created------the pursuit of excellence, honesty and integrity, the drive for performance, 
accountability, creativeness and harmoniousness, which were drawn from the glorious 
cultural essence over the bank’s century-old history and created through innovative 
understanding of the connotation and concept of the corporate culture. 
in 2007, the bank will gradually intensify the promotion of the corporate culture to make 
it a universal recognition of the core value: “the pursuit of excellence”, which is strongly 
backed up with “honesty and integrity, the drive for performance, creativeness and 
harmoniousness”, and integrate the core values into the bank’s business process and 
management structure, the building of it blueprint. guided by the core values, we are 
continuously to inspire employees’ creativeness and enthusiasm, enhance the internal 
cohesiveness and the sense of recognition, and establish the reliable credit standing as 
well as excellent brand image. 
cooperation with strategic investors 
in 2006 bank of china deepened cooperation its strategic investors - rbs, afh, ubs 
135 
and adb, who have played an important role both in expanding the bank’s business and 
improving its corporate governance. 
overview 
in 2006 the bank and rbs held 4 joint steering committee meetings. rbs has totally 
seconded 47 experts in 7 successive groups to the bank. rbs has provided trainings for 
about 500 boc staff coming from the head office as well as domestic and overseas 
branches, covering such major fields as credit risk, operational risk, market risk, financial 
management, project finance, wealth management and credit card. the bank has also 
established joint steering committee with ubs who seconded totally 3 experts to the 
bank. 
corporate banking business 
the bank actively promoted its cooperation with rbs and achieved notable progress in 
the fields of aircraft financing, shipping financing, syndicated loans, supply chain 
financing, customer referral and business training. in 2006, the bank successfully worked 
together with rbs in several large-scale projects both in domestic and overseas markets, 
improving its capability to provide high-end financial products and services to preferred 
corporate clients. the project of shipping debt deal of the shanghai times shipping co. 
ltd was granted the honour of shipping debt deal of the year-asia.the bank held 
seminars on supply chain financing with rbs to discuss feasible business solutions. 
customer referral arrangements were made between the bank and rbs, including its us 
subsidiary citizen bank. the bank learned from asia financial (holdings) the 
experience of small business financing. it was in the process of forming its own service 
model for small business. meanwhile, the bank worked together with strategic investors 
in optimization of corporate banking organizational structure, business process 
reengineering and training in high-end and sophisticated financing products. management 
capability was further enhanced. the cooperation with ubs included successful referral 
and investment in a number of ipos ubs led, assistance in the acquisition of singapore 
aircraft leasing enterprise and initial discussions in npl investment and reit offering. 

136 
personal banking business 
the bank’s cooperation with rbs proceeded in setting up a card business unit’s (the 
“bu”). the bu’s management committee has been established, and started to direct the 
bu’s founding and development. senior managers of the bank card center have been 
appointed. the bank is considering expanding the cooperation scope with rbs’ to the 
credit card business, the quasi credit card business and the acquiring services. both sides 
have made five-year plan for bank card business development, a 2007-2011 credit card 
finance plan, and have jointly developed internal scoring card system, and established 
the mechanism of risk budgeting and the monitoring of risk profile. in addition, 
according to the related regulations, the cooperation between boc and rbs will be the 
related party transactions of listing programs by shanghai stock exchange, which shall 
go public in accordance with related regulations. progress in bank card cooperation has 
been made in such aspects as hr, it, finance management, marketing and data analysis. 
the bank has deepened its strategic cooperation with rbs group in private banking 
business, for which a letter of intent was signed, a bilateral project working group was 
set up to prepare for the launching of private banking branches in beijing and shanghai. 
the cooperation also covered human resource development, product and services, brand 
promotion, it, risk management and outlet construction. 
financial market business 
the bank arranged coordination meetings, lectures, trainings and seminars many times 
with its strategic investor rbs, and actively cooperated with each other in business and 
achieved good results. in 2006, the foreign exchange transaction volume of the two 
parties doubled, volume of bond transaction increased by more than 25%. at the same 
time, the two parties built electronic brokerage system (ebs), providing a reliable 
foundation for future cooperation. in addition, the bank has also held a number of 
seminars and workshop with ubs in financial market and treasury. 
risk management 
rbs has seconded 4 experts on risk management for long-term work in the bank. in 
137 
operation risk management, rbs proved technical support and core staff training in fields 
such as operational risks classification guideline, work process of risk and control 
assessment and key risk indicator (raca&kri). rbs helped bank formulate and 
promote the work process of operational risks and raca&kri and its pilot 
implementation program. rbs also provided to the bank the framework of anti-money 
laundering training and stipulations. the bank seconded 2 key staff members to rbs for 
a 3-month on-site training on operational risks and anti-fraud management. in credit risk 
management, rbs secondees assisted the bank to design training courses on corporate 
credit analysis, loan structure and retail credit scorecard. rbs has also introduced to the 
bank on its risk management experience by arranging seminars and on-site visits to rbs. 
in market risk management, rbs expert helped us in the design of market risk 
management framework. rbs provided technical support on developing the bank’s 
market risk limit structure and market risk management policy and on investment 
portfolio risk management review. a project was launched to evaluate the effectiveness of 
the market risk control environment within the dealing room. ubs sent 3 experts and 
provided a 3-month technical support in the fields of establishing market risk 
management policies, identifying risk factors in transactions and reporting value at risk. 
in addition, adb also provided professional consultancy and advice on anti-money 
laundering, operational risk management and internal control. 
treasury and capital management 
the bank has reviewed and learned from the practices adopted by rbs in the fields of 
internal funds transfer, treasury, planning, budgeting and product pricing. accordingly, 
the bank developed the guidance to boc ftp objectives system and its 
implementation plan. ubs has introduced to the bank on its practices and experience on 
treasury management, interest rate risk management, liquidity management, fund raising 
management, group treasury and funding management etc. 
human resource and process integration 
the bank carried out co-operation in the fields of leadership modeling, leadership 
development, human resources shared service, human capital management and 
138 
businesses architecture. rbs experts provided consultancy and advices to the bank on 
developing leadership models. the bank sent 8 senior managers to take the leadership 
program co-developed by rbs and harvard university. under the assistance of rbs, the 
bank reached an agreement with the harvard business school to co-develop training 
programs. with the support of rbs, the bank carried out a full-scope review on the 
management structure and mechanisms of rbs group and on which the bank will draw 
reference for process integration and organization restructuring. 
information technology 
rbs seconded three groups of its staff members (totaling 18 persons/times) to assist the 
bank on its core banking system (cbs). rbs’ assistance included sending experts to help 
the bank determine cbs mode, introducing on cbs and its application and giving advice 
on the construction of it system. in 2006, the bank seconded 2 senior managers from its 
it department and information center to rbs’ it department for a 3-months training 
program. 
corporate honors and responsibilities 
recognition in the market 
in 2006, the bank received wide recognition on its performance from well-known media 
both at home and abroad. the awards covered many areas including banking business 
and management systems. 
emerging markets banking achievement of the year 
the banker ranked 17th among the "top 1000 world banks" 
global finance best foreign exchange bank-china 
best trade finance bank-china 
the asset 2006 triple a best cash management bank in china, 
139 
best trade finance bank in china 
asia risk house of the year china 
fortune ranked 255 in fortune’s “global 500” 
china’s most admired company (chinese version) 
asia money best local cash management bank in china voted by 
large corporations in china 
asian legal business banking & financial services in-house team of the 
year (the only awarded domestic financial institution) 
universum ideal employer for chinese college students (awarded 
for the second time) 
21st century business herald best international business in asian banks 
investors relations best ir for a corporate transaction 
best ir for an ipo in the hong kong market 
14th china international financial (banking) technology & equipment 
exhibition financial business innovation (cybertariff) 
charity and community initiatives 
aiming at building a harmonious society, the bank is committed to its social 
responsibilities and reciprocates to the society in various ways. over the years, the bank 
has made its own contributions in poverty alleviation, disaster relief, aiding the disabled 
and vulnerable groups and sponsorship of cultural and sports activities. 
poverty reduction and disaster relief 
in 2006, the bank sent its poverty alleviation work team to xian yang in shanxi province 
140 
for the consecutive fourth year. the team spared no efforts to help the people in 
poverty-stricken areas and completed infrastructure programs including drinking water 
projects. they also built and reconstructed a number of middle and primary schools and 
provided assistance to 100 children lacking education opportunity and 30 college students 
in financial difficulty. with all these measures, the living conditions of the local people 
and backwardness in education were greatly improved. their efforts won high appraisal 
from local people. 
donation for disaster-stricken regions 
in 2006, the bank provided over a million of rmb funds to typhoon-affected zhejiang 
and guangdong provinces and earthquake-affected kashe area in xinjiang uigur 
autonomous region as well as other regions heavily struck by natural disasters. 
donations showing care and help from the bank staff were made to help people in these 
regions to return to normal state of work and carry out reconstruction after the disasters. 
sponsorship of china children and teenagers fund 
among the first to join the “collection box of affection” program launched by the china 
children and teenagers fund, as of the end of december 2006, the bank has established 
over 1,700 collection boxes and collected over 1 million rmb funds for the china 
children and teenagers fund. the bank was thus conferred the honorary title of “the 
best unit of children affection” by the fund. 
culture and education 
launch of college education loans, by the end of 2006, the bank continued to extend the 
education loan to all 115 colleges and universities affiliated to the ministry of education, 
and provided financial support to students suffering financial difficulty to help them 
finish their college education. since the launch of the college education loans, the bank 
has made 17.9 billion rmb loans accumulatively and the balance for education loans has 
exceeded 6.95 billion rmb by the end of 2006. 
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bank of china established the tan kah kee science award foundation jointly with the 
chinese academy of sciences, awarding top chinese scientists for their outstanding 
scientific achievements. the foundation set up awards in five areas: science (including 
mathematics, physics, mechanics and astronomy), chemistry, life science (including 
biology, medicine and agriculture), geoscience and technology science, which are 
awarded every two years. in the year of 2006, the foundation awarded the winners for 
the first time, obtaining very positive feedbacks and promoting the scientific and 
technological development in china. 
provide financial services for sports activities 
in feb. 2006, as the 2008 beijing olympics official banking partner, the bank established 
on-site financial service work team during the torino winter olympics at the request of 
bocog and general administration of sport of china, and provided comprehensive 
financial services to the chinese delegation and bocog. 
in december 2006, the bank sent its work team to doha in qatar to provide on-site 
financial services to the chinese delegation during the 15th asian games. 
in 2006, the bank organized a number of olympic theme activities, such as 
“long-distance walk with beijing citizens to welcome olympics” in beijing, “true 
understanding, sincere care-bank of china welcomes the paralytics and with you” in 
tianjin, and “bank of china olympic festival” in hangzhou. these activities have led 
local people to a better understanding of and the participation in olympics. 
in 2006, the bank sponsored various sports activities. it sponsored after its name the 
fig 2006 world cup gymnastics in shanghai. in august 2006, the bank sponsored 
“goodluck beijing” isf xi women’s fast pitch world championship in beijing as well 
as the “goodluck beijing”2006 qingdao international regatta, and provided on-site 
142 
financial services for the two events. 

143 
changes in share capital and shareholdings of 
substantial shareholders 
changes in share capital (unit: share) 
1 january 2006 increase/decrease in the report period 31 december 2006 
number % issue of shares 
before ipo issue of h shares issue of a 
shares others sub-total number % 
i. shares subject to 
selling restriction 173,487,740,209 68.34% 
1. state-owned shares 
(promoters' shares) 174,128,718,217 83.15% -2,803,313,477 -2,803,313,477 171,325,404,740 67.49% 
2. shares held by 
state-owned legal 
persons 8,514,415,652 -8,514,415,652 0 
3. shares held by 
other domestic 
investors 3,038,959,000 -876,623,531 2,162,335,469 2,162,335,469 0.85% 
incl.: 
shares held by 
domestic legal 
persons 
shares held by 
domestic natural 
persons 
4. shares held by 
foreign investors 35,298,644,140 16.85% -35,298,644,140 -35,298,644,140 
incl.: 
shares held by 
overseas legal persons 35,298,644,140 16.85% -35,298,644,140 -35,298,644,140 
shares held by 
overseas natural 
persons 
ii. shares not 
subject to selling 
restriction 80,351,421,800 31.66% 
1. rmb-denominated 
ordinary shares 3,454,547,000 876,623,531 4,331,170,531 4,331,170,531 1.71% 
2.domestically listed 
foreign shares 
3. overseas listed 
foreign shares 29,403,878,000 46,616,373,269 76,020,251,269 76,020,251,269 29.95% 
4. others 
iii. total 209,427,362,357 100.00% 8,514,415,652 29,403,878,000 6,493,506,000 0 44,411,799,652 253,839,162,009 100.00% 
note: 
i. the bank issued 8,514,415,652 ordinary shares to ncssf on 13 march 2006. 
ii on 1 june 2006, the bank completed a successful initial public offering of 25,568,590,000 h 
shares and was listed on the hong kong stock exchange. on 9 june 2006, pursuant to the exercise of 
the over-allotment option, a further 3,835,288,000 h shares were issued, thereby issuing in aggregate 
a total of 29,403,878,000 h shares. during the offering and listing of h shares, 35,298,644,140 
unlisted foreign shares held by overseas strategic investors of the bank, 8,514,415,652 ordinary shares 
held by ncssf, and 2,803,313,477 ordinary shares transferred by the promoter—huijin to ncssf 
according to state provisions were all converted into h shares and became listed on the hong kong 
stock exchange.. 
144 
iii. 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 the bank and 171,325,404,740 ordinary shares held by the promoter—huijin 
were registered as a shares. on 5 july 2006, the bank’s a shares were listed on shanghai stock 
exchange. of the a shares, 1,285,712,000 shares were placed to 14 strategic investors with a lock-up 
period of 18 months, 876,623,531 shares were placed with a lock-up period of three months and 
876,623,469 shares with a lock-up period of six months to the offline investors, and 3,454,547,000 
shares were not subject to selling restriction. the shares placed to offline investors have been unfrozen 
and allowed to be tradable on the stock exchange on 5 october 2006 and 5 january 2007 respectively. 
iv. by the end of 31 december 2006, the bank has issued 253,839,162,009 shares, including 
177,818,910,740 a shares and 76,020,251,269 h shares. 
v. “selling restriction” in the above-mentioned table refers to a shares issued by the bank only. 
vi. in the report period, the bank has not issued bonus shares or transferred shares from the surplus 
reserve. 
shareholder information in the report period 
number of shareholders and shareholdings 
issuance and listing of shares 
the bank successfully floated h shares on the hong kong stock exchange on 1 june 
2006, including 25,568,590,000 issued in the ipo and 3,835,288,000 shares issued by 
exercise of over-allotment option on 9 june 2006. the number of h shares issued, at an 
offer price of hkd 2.95 per share, accounted for 11.89% of the bank’s total equity after 
the offering. the bank raised approximately hkd 86.7 billion in the offering. thereafter, 
the bank successfully offered a shares from 19 to 23 june 2006, at an issue price of 
rmb 3.08 per share and was listed on shanghai stock exchange on 5july. 6,493,506,000 
a shares were issued in the ipo, accounting for approximately 2.56% of the fully diluted 
total equity. rmb20 billion was raised in the offering. 
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. 
issue of subordinated bonds and use of proceeds 
for issue of subordinated bonds, please refer to section v of the financial statements and 
notes. the purpose for the bank’s issue of the subordinated bonds was to effectively 
mitigate liquidity risk and optimize the maturity structure of assets and liabilities. the 
bank plans to utilize the long-term funds raised by the issuance to grant long and 
145 
medium-term loans, especially those for high-quality infrastructure construction projects. 
in the report period, the bank has not issued subordinated bonds. 
shareholder information at the end of the report period 
as of 31 december 2006, the bank had 846,127 shareholders, of which, there were 
378,972 holders of h shares, and 467,155 holders of a shares . 
shareholdings 
trading schedule of a shares subject to selling restriction 
date 
number of shares 
allowed to be 
tradable at the 
maturity of lock-up 
period 
remaining shares 
subject to selling 
restriction 
remaining 
shares not 
subject to selling 
restriction 
remarks 
5 january 2007 876,623,469 172,611,116,740 5,207,794,000 
shares placed to offline 
institutional investors (with 
a lock-up period of 6 
months) were unfrozen 
5 january 2008 1,285,712,000 171,325,404,740 6,493,506,000 
shares placed to strategic 
investors (with a lock-up 
period of 18 months) will 
be unfrozen 
5 july 2009 171,325,404,740 0 177,818,910,740 commitment of the 
company 
note: huijin undertook that within three years since the bank’s a shares listing, it would not transfer 
the a shares of the bank directly or indirectly held by itself or entrust other persons to manage the 
shares, nor would it allow the bank to repurchase the shares, with the exception of those allowed to be 
converted into h shares following approval of the china securities regulatory commission. any 
withdrawal of huijin’s shares that are deposited with the china securities depository and clearing 
corporation limited and the re-registration of such shares as h shares would not affect any 
pre-existing restrictions on transfer applicable to huijin’s shares. 
number of shares subject to selling restriction held by top 10 shareholders and the selling 
restriction as at 31 december 2006 (unit: share) 
no. name of shareholder 
number of shares 
subject to selling 
restriction 
time for trading number of new shares 
available for trading 
selling 
restriction 
1 china safe investments limited 171,325,404,740 5 july 2009 171,325,404,740 commitment of 
the company 
2 
china life insurance (group) 
company-traditional-ordinary insurance 
products 
144,559,043 see the note below see the note below lock-up period
146 
3 
china life insurance company 
limited-traditional-ordinary insurance 
products-005l-ct001 sh 
123,376,000 5 january 2008 123,376,000 lock-up period 
4 state development & investment corp. 90,909,000 5 january 2008 90,909,000 lock-up period 
4 baosteel group co., ltd 90,909,000 5 january 2008 90,909,000 lock-up period 
4 china southern power grid co., ltd 90,909,000 5 january 2008 90,909,000 lock-up period 
4 china huaneng group 90,909,000 5 january 2008 90,909,000 lock-up period 
4 
chinese people property insurance company 
limited-traditional-ordinary insurance 
products-008c-ct001 sh 
90,909,000 5 january 2008 90,909,000 lock-up period 
4 
china reinsurance (group) company-group 
level-fund owned by the 
group-007g-zy001 sh 
90,909,000 5 january 2008 90,909,000 lock-up period 
4 cnooc 90,909,000 5 january 2008 90,909,000 lock-up period 
4 
ping an life insurance company of 
china-traditional-ordinary insurance 
products 
90,909,000 5 january 2008 90,909,000 lock-up period 
4 shenhua group co., ltd 90,909,000 5 january 2008 90,909,000 lock-up period 
4 china national aviation holding company 90,909,000 5 january 2008 90,909,000 lock-up period 
4 china aluminum corporation 90,909,000 5 january 2008 90,909,000 lock-up period 
note: among the 144,559,043 shares held by china life insurance (group) company – traditional – ordinary 
insurance products, 47,157,043 shares have been unfrozen and available for trading on the market on 5 january 2007, 
the remaining 97,402,000 will be unfrozen and available for trading on the market on 5 january 2008. 
top ten shareholders as at 31 december 2006 (unit: share) 
no. shareholder’s name type of 
shareholder 
type 
of 
shares number of 
shares held 
proportion 
in total 
share 
capital 
(%) 
shares 
pledged or 
frozen 
shares 
1 central safe investments limited state-owned a 171,325,404,740 67.49% 
2 hkscc nominees limited foreign h 30,262,318,674 11.92% 
3 rbs china investments s.à.r.l. foreign h 20,942,736,236 8.25% 
4 asia financial holdings pte. ltd foreign h 10,471,368,118 4.13% 
5 
national council for social security 
fund, prc state-owned h 8,377,341,329 3.30% 
6 ubs ag foreign h 3,377,860,684 1.33% 
7 asian development bank foreign h 506,679,102 0.20% 
8 the bank of tokyo-mitsubishi ufj ltd foreign h 473,052,000 0.19% 
9 wingreat international limited foreign h 420,490,000 0.17% 
10 best sense investments limited foreign h 236,526,000 0.09% 
10 turbo top limited foreign h 236,526,000 0.09% 
the number of shares held by h share shareholders was recorded in the register of members as kept 
by the h share registrar of the bank 
the bank is not aware whether the shares held by the aforesaid shareholders have been pledged or 
frozen, nor is the bank aware of the existence of connected relations among the above-mentioned 
147 
shareholders. 
top ten holders of a shares not subject to selling restriction at 31 december 2006 
(unit: share) 
no. shareholder’s name 
number of shares 
not subject to selling 
restriction 
class of 
shares 
1 icbc-southern securities investment fund for stocks with good 
performance and growth 210,000,000 a 
2 agricultural bank of china – jingshun great wall domestic 
demand growth no.2 stock securities investment fund 96,629,963 a 
3 icbc-lion value growth stock securities investment fund 73,469,700 a 
4 ifc – standard chartered - citigroup global markets 
limited 62,858,475 a 
5 icbc – sse 50 trading open-end index securities investment 
fund 49,869,579 a 
6 icbc-e fund value selective stock securities investment fund 42,000,000 a 
7 china pacific life insurance co., ltd-traditional-ordinary 
insurance products 35,179,154 a 
8 tiance investment management and consulting (shanghai) co., 
ltd 31,575,159 a 
9 china life insurance company limited-traditional-ordinary 
insurance products-005l-ct001 sh 27,058,100 a 
10 xinghe securities investment fund 25,843,028 a 
some of the above shareholders are managed by the same legal entity. save for that, the bank is not 
aware of any connected relations and concerted action among the above-mentioned shareholders. 
substantial interest in share capital 
the register maintained by the bank pursuant to section 336 of the sfo recorded that, as 
at 31 december 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 
percentage of 
total issued a 
shares (%) 
percentage of 
total issued h 
shares (%) 
percentage 
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 interest 
& beneficial owner 
rbs ci limited note 1 20,942,736,236 h – 27.54% 8.25% attributable interest 
& beneficial owner 
rbs china 20,942,736,236 h – 27.54% 8.25% beneficial owner 
148 
investments s.à.r.l. 
temasek holdings 
(private) limited note 2 
11,792,559,118 h – 15.51% 4.65% attributable interest 
national council for 
social security fund 
11,317,729,129 h – 14.89% 4.46% beneficial owner 
ubs ag 4,582,523,525 
1,084,612,402 (s) 
note3 
h – 6.03% 
1.43% 
1.81% 
0.43% 
attributable interest, 
beneficial owner & 
person having a 
security interest in 
shares 
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. 
3. “s” denotes short positions. 
all the interests stated above represented long positions except stated otherwise. save as disclosed 
above, as at 31 december 2006, no other interests or short positions were recorded in the register 
maintained by the bank under section 336 of the sfo. 
the controlling shareholder of the bank 
central safe investments limited (“huijin”) 
huijin is a wholly state-owned company with limited liability. established on 16 
december 2003, the company has a registered capital of rmb 372.465 billion and 
paid-in capital of rmb 496.6125 billion. its legal representative is hu xiaolian. on 
behalf of the state, huijin performs the rights and obligations as an investor in the bank, 
and implements the equity investment subject to the approval of the state council and 
policies and arrangement relating to the state’s reform of state-owned financial 
institutions. huijin does not engage in other business activities. 

149 
directors, supervisors, and senior management 
directors, supervisors and senior management 
name age gender position 
term of office 
total amount of 
pre-tax compensation 
received from the 
company in the 
report period 
(thousand) 
whether receives 
also compensated 
by a controlling 
shareholder 
company or other 
associated 
companies 
xiao gang 48 male chairman 
from august 2004 
to august 2007 
1,523,770 yes 
li lihui 54 
male 
vice chairman and 
president 
from august 2004 
to august 2007 
1,528.657 yes 
zhang jinghua 50 male 
non-executive 
director 
from august 2004 
to august 2007 
- yes 
yu erniu 57 male 
non-executive 
director 
from august 2004 
to august 2007 
- yes 
zhu yan 50 female 
non-executive 
director 
from august 2004 
to august 2007 
- yes 
zhang xinze 60 male 
non-executive 
director 
from august 2004 
to august 
2007 
- yes 
hong zhihua 54 female 
non-executive 
director 
from august 2004 
to august 2007 
- yes 
huang haibo 54 female 
non-executive 
director 
from august 2004 
to august 2007 
- yes 
sir frederick 
anderson 
goodwin 
48 male 
non-executive 
director 
from 
january 2006 to 
january 
2009 
- no 
150 
seah lim huat 
peter 
60 male 
non-executive 
director 
from june 2006 to 
june 2009 
- no 
hua qingshan 53 male 
executive director 
and executive vice 
president 
from august 2004 
to august 2007 1,307.831 yes 
li zaohang 51 male 
executive director 
and executive 
vice president 
from august 2004 
to august 2007 1,307.235 yes 
anthony francis 
neoh 
60 male 
independent 
non-executive 
director 
from august 2004 
to august 2007 
400 no 
william peter 
cooke 
75 male 
independent 
non-executive 
director 
from december 
2004 to december 
2007 
606.464 yes 
patrick de 
saintaignan 
58 male 
independent 
non-executive 
director 
from january 2006 
to january 
2009 
400 no 
alberto togni 68 male 
independent 
non-executive 
director 
from june 2006 
to june 2009 
145.833 no 
liu ziqiang 58 male 
chairman of board 
of supervisors 
from august 2004 
to august 2007 
1,312.599 no 
wang xueqiang 49 male supervisor 
from august 
2004 to august 2007 
878.334 no 
liu wanming 48 male supervisor 
from august 
2004 to august 2007 
874.247 no 
li chunyu 47 male 
employee 
supervisor 
from december 
2004 
to december 
2007 
478.632 no 
liu dun 43 male 
employee 
supervisor 
from december 
2004 to december 
2007 
422.972 no 
151 
zhou zaiqun 54 male 
executive vice 
president 
from 
august 
2004 to august 2007 
1,437.055 yes 
zhang yanling 55 female 
executive vice 
president 
from august 2004 
to august 
2007 
1,313.222 yes 
zhang lin 50 female 
secretary of party 
discipline 
committee 
from august 
2004 to august 2007 
1,230.033 no 
zhu min 54 male 
executive vice 
president 
from august 2006 
to august 2009 
1,193.880 no 
wang yongli 42 male 
executive vice 
president 
from august 2006 
to august 2009 
1,187.267 no 
yeung jason chi 
wai 
52 male 
secretary to the 
board of directors 
from november 
2005 to november 
2008 
5,618.777 yes 
zhu xinqiang6 54 male 
executive assistant 
president 
from november 
2003 to august 
2006 
1,030.727 yes 
lonnie dounn7 54 male chief credit officer 
from march 2005 
to september 2006 
7,915.785 no 
note: 
(1) in the report period, none of the directors, supervisors and senior management holds the bank’s 
shares. 
(2) independent non-executive directors’ compensation is based on “the resolution of the fifth 
session of the first board of directors’ meeting of the bank”. the supervisors’ compensation is based 
on " the resolution of the second extraordinary meeting of shareholders of the bank in 2005 ". 
the annual compensation of independent non-executive directors and supervisors should be 
proposed by the personnel and remuneration committee and submitted to the board of directors and 
shareholders’ meeting for review and approval. 
the compensation of the senior management is based on the bank’s management measures on 
remuneration of senior management. the employee supervisors’ compensation is based on staff 
salary control system. 
(3) non-executive director holding a position in a shareholder does not receive any compensation 
from the bank. they are remunerated by the respective shareholder entity where they hold a position. 
6 zhu xinqiang resigned in august, 2006 for personal reason. 
7 lonnie dounn resigned in september, 2006 for personal reason. 
152 
our executive directors and supervisors, who are also our employees and our senior 
management personnel, receive compensation in the form of salaries, bonuses, benefits in 
kind, contributions to pension schemes，as well as other pension through our contribution 
to their social insurance and housing plans. our independent non-executive directors 
receive directors’ fees and allowance. our non-executive directors do not receive any 
salary or directors’ fees from us. 
the aggregate fees and compensation paid by us to all our directors, supervisors and 
senior management members in 2006 were rmb 32.1133 million. a total of rmb 2.6 
million was contributed for the social insurance, supplementary insurance expenses, and 
housing fund for directors, supervisors and senior management members. 
compensation for directors, supervisors and the senior management in 2006 
(rmb million) 
total amount of directors’ fees and 
compensation 
32.1133 
independent non-executive directors’ fees and 
other income 
1.5523 
compensation range number of persons 
above and including rmb 7.00 million up to 
rmb 7.99 million 
1 
above and including rmb 6.00 million up to 
rmb6.99 million 
0 
above and including rmb 5.00 million up to 
rmb 5.99 million 
1 
above and including rmb 2.00 million up to 
rmb 4.99 million 
0 
above and including rmb 1.00 million up to 
rmb 1.99 million 
11 
rmb 0.99 million and below 8 
holding of positions in shareholder companies by directors, 
supervisors and senior management 
153 
as at the end of 2006 and save as disclosed, none of our bank’s directors, supervisors or 
senior management holds any position in our shareholder companies. 
brief working experience and other positions held by 
directors, supervisors and senior management 
directors 
chen muhua honorary 
chairperson 
has been the honorary chairperson of the board of directors since august 
2004. ms. chen was formerly vice chairwoman of the standing committee 
of the national people's congress. 
chuang shih 
ping 
honorary vice 
chairman 
has been the honorary vice chairman of the board of director since august 
2004. mr. chuang previously served as the standing commissioner of 
chinese people’s political consultative conference, the chairman of 
nanyang commercial bank as well as a director of our bank. 
xiao gang chairman has served as chairman of the board of directors since march 2003. he also 
served as our president from march 2003 to august 2004. from october 
1996 until march 2003, mr. xiao served as deputy governor and assistant 
governor of the people’s bank of china (pboc). during this period, he was 
also director of the fund planning department and the monetary policy 
department of the pboc, governor of the guangdong branch of the pboc 
and governor of the guangdong branch of the state administration of 
foreign exchange. from october 1989 to october 1996, mr.xiao held 
various positions at the pboc, including director of the policy research 
office, director of the china foreign exchange trading center and director 
general of the fund and planning department. mr. xiao graduated from the 
finance department of hunan institute of finance and economics in 1981 
and was awarded a master’s degree in international economic law by china 
renmin university in 1996. since may 2003, mr.xiao served as chairman 
of the board of directors of bochk holdings. 
154 
li lihui 
vice chairman 
and president 
has served as vice chairman of the board of directors and our president 
since august 2004. from september 2002 to august 2004, mr. li served as 
deputy governor of hainan province, and from july 1994 to september 
2002, mr. li was an executive vice president of industrial and commercial 
bank of china (“icbc”). from 1988 to july 1994, he served in a number of 
positions at icbc, including deputy general manager of the fujian branch, 
chief representative of the singapore representative office and general 
manager of the international business department. mr. li graduated from 
the economics department of xiamen university in 1977 majoring in 
finance and also holds an economics doctorate degree in finance from the 
guanghua school of management at peking university. since june 2005, 
mr. li has been serving as chairman of board of directors in boci. mr. li 
has also served as chairman of bohai industry investment management 
ltd. since december 2006. 
hua qingshan executive 
director and 
executive vice 
president 
has served as an executive director of the bank since august 2004. he 
joined our bank in 1994 and served as our assistant president from may 
1994 to december 1998. since december 1998, he has served as a vice 
president. he is currently also a director of visa international asia-pacific. 
mr. hua obtained a master's degree in engineering from hunan university 
in 1996. since june 2002, mr. hua has been serving as a non-executive 
director of bochk holdings. 
li zaohang executive 
director and 
executive vice 
president 
has served as an executive director of the bank since august 2004. he 
joined our bank in november 2000 and has served as a vice president since 
then. from november 1980 to november 2000, mr. li served in various 
capacities at china construction bank (“ccb”), including manager, branch 
manager, general manager of various departments of the head office and 
executive vice president. mr. li graduated from nanjing university of 
information science and technology in 1978. since june 2002, mr. li has 
been serving as a non-executive director of bochk, one of our 
subsidiaries with shares listed on the hong kong stock exchange. 
zhang jinghua non-executive has served as a non-executive director of bank of china limited since 
155 
director august 2004. mr. zhang worked for the china 
securities regulatory commission (“csrc”) from january 1993 to august 
2004 in various capacities, including director of listed companies 
department, director of market supervision department, director of fund 
supervision department, director of international cooperation and a 
member of the planning and development commission. mr. zhang 
graduated from northeast forestry institute in 1982 and obtained a mba 
degree from the state university of new york in 1988. 
yu erniu 
non-executive 
director 
has served as a non-executive director of the bank since august 2004. mr. 
yu previously worked for the ministry of finance from october 1987 to 
august 2004 in various capacities, including the director of the personnel 
and education department. mr. yu attended a post-graduate program in 
economic law at the capital university of economics and business and 
graduated in 2001. 
zhu yan 
non-executive 
director 
has served as a non-executive director of the bank since august 2004. 
from august 1994 to august 2004, ms. zhu held numerous positions at the 
ministry of finance (mof), including assistant inspector and deputy 
director general of the surveillance bureau, deputy director of the 
department of central enterprises, director of management department ii 
of the dispatching organ, director of central department i, and director of 
inspection department i. from september 1993 to july 1994, ms. zhu 
worked as deputy head of the liaoning provincial finance department 
resident financial supervision team, where she oversaw state-owned- 
enterprises in anshan and reported directly to the ministry of finance. from 
march 1990 to september 1993, she worked as head of the resident financial 
supervision team of anshan finance bureau overseeing anshan iron & steel 
group. prior to that, ms. zhu served as the finance department head, 
deputy chief accountant and deputy general manager at the anshan coach 
automotive factory from october 1983 to february 1990. ms. zhu attended 
a post-graduate program in investment management at the chinese academy 
of social sciences and graduated in 1998. she studied law at the central 
communist party school and graduated in 2001. ms. zhu also attended a 
post-graduate program in international economics at the central communist 
156 
party school and graduated in january 2006. ms. zhu is a senior accountant, 
and certified public accountant of the chinese institute of certified public 
accountants. 
zhang xinze non-executive 
director 
has served as a non-executive director of the bank since august 2004. mr. 
zhang worked for the pboc from may 1975 to october 1978 and from 
september 1982 to august 2004 in various capacities, including deputy 
director and inspector of the survey and statistics department, the inspector 
of the credit reporting administration and deputy director of the credit 
reporting center of credit reporting administration. mr zhang is a 
research fellow and received a bachelor's degree in finance from the finance 
department, china renmin university in 1982. 
hong zhihua non-executive 
director 
has served as a non-executive director of the bank since august 2004. ms. 
hong previously worked with the state administration of foreign exchange 
from january 1982 to august 2004 in various capacities, including deputy 
director general of the policy and regulation department, deputy director 
general of the international balance department and inspector of the 
general affairs department. ms. hong is a senior economist and graduated 
from yunnan university with a bachelor’s degree in chinese literature in 
1982. 
huang haibo non-executive 
director 
has served as a non-executive director of the bank since august 2004. ms. 
huang worked for the pboc from august 1977 to august 2004 in various 
capacities, including deputy director general of the treasury bureau. ms. 
huang graduated from the accounting department, shanxi finance 
university. she is a senior accountant and certified public accountant of the 
chinese institute of certified public accountants. 
sir frederick 
anderson 
goodwin 
non-executive 
director 
has served as a non-executive director of the bank since january 2006. sir 
fred goodwin is the group chief executive of rbs. prior to joining rbs 
group in 1998, he served as the chief executive of clydesdale bank plc 
from 1995 to 1998 and was a partner of touche ross from 1988 to 1995. sir 
fred goodwin currently is also the chairman of the prince’s trust. sir fred 
goodwin graduated from university of glasgow with a bachelor’s degree in 
157 
law in 1979. rbs china, one of our strategic investors, is a subsidiary of 
rbs group. since august 1998, sir fred goodwin has served as a director 
of rbs group, the holding company of one of the world’s largest banking 
and financial services groups with its primary listing on the london stock 
exchange. 
seah lim huat 
peter 
non-executive 
director 
has served as a non-executive director of bank of china limited since june 
2006. mr. seah is currently a member of the temasek advisory panel of 
temasek holdings (pte.) ltd. and president commissioner of bank 
international indonesia. mr. seah served as president and chief executive 
officer of singapore technologies pte. ltd. from 2001 to 2004. prior to that, 
mr. seah built up his career in the banking industry over a 32-year period. 
mr. seah held various key positions at singapore’s overseas union bank 
limited, including as vice chairman and chief executive officer from 1991 to 
2001, and general manager from 1982 to 1985. he was executive director 
and chief executive of international bank of singapore ltd. from 1985 to 
1991. mr. seah graduated from the university of singapore in 1968 with a 
bachelor’s degree (honours) in business administration. mr. seah is also a 
director of capitaland limited since 2001, chartered semiconductor 
manufacturing ltd. since 2002, sembcorp industries ltd since 1998, siam 
commercial bank public company limited since 1999, star hub ltd. since 
2002, global crossing limited since 2003, singapore computer systems 
limited since 2005, stats chippac ltd. since 2002, pt bank international 
indonesia tbk since 2004 and p t indosat tbk since 2004, all of which are 
companies listed on the securities exchanges of singapore, thailand, 
indonesia and/or the united states. 
anthony francis 
neoh 
non-executive 
director 
has served as an independent non-executive director of the bank since 
august 2004. mr. neoh currently serves as a member of the international 
consultation committee of csrc and member of the basic law committee 
of the hong kong special administrative region under the standing 
committee of the national people’s congress. mr. neoh previously served 
as chief advisor to the csrc, chairman of the hong kong securities and 
futures commission, a member of the hong kong stock exchange council 
and its listing committee, deputy judge of the hong kong high court, and 
158 
administrative officer of the hong kong government. from 1996 to 1998, 
mr. neoh was chairman of the technical committee of the international 
organization of securities commissions. mr. neoh was appointed as 
queen's counsel (currently retitled to as senior counsel) in hong kong in 
1990. mr. neoh graduated from the university of london with an 
honoursdegree in law in 1976. mr. neoh is a barrister of england and wales 
and admitted to the state bar of california. mr. neoh was a non-executive 
director of global digital creations holdings limited from november 2002 
to december 2005, and an independent non-executive director of the link 
management limited, the manager of the link real estate investment trust, 
from september 2004 to march 2006. since november 2004, mr. neoh has 
been serving as an independent non-executive director of china shenhua 
energy co., limited. the shares of the global digital creations holdings 
limited are listed on the growth enterprise market of the hong kong stock 
exchange, and the units and shares of the link real estate investment trust 
and china shenhua energy company limited, respectively, are listed on the 
main board of the hong kong stock exchange. 
william peter 
cooke 
independent 
non-executive 
director 
has served as an independent non-executive director of the bank since 
december 2004. mr. cooke retired from the bank of england in 1988 after a 
33-year career. prior to his retirement, mr. cooke was associate director 
and head of banking supervision at the bank of england. from 1977 to 
1988, he was also chairman of the basel committee of banking regulation 
and supervisory practices at the bank for international settlements, which 
formulated the first basel capital accord. from 1989 to 2002, mr. cooke 
served as the chairman of price waterhouse world regulatory advisory 
practice and advisor to price waterhousecoopers. from 1996 to 1998, mr. 
cooke was a director of boci (u.k.) holding limited. since 1992, 1998 
and 1999, mr. cooke respectively served as a non-executive director of 
financial security assurance (u.k.) ltd., state street bank (u.k.) ltd. and 
boc international (u.k.) limited. mr. cooke holds a bachelor’s and 
master’s degree in modern history from merton college, oxford. 
patrick de 
saint-aignan 
independent 
non-executive 
has served as an independent non-executive director of the bank since 
january 2006. mr. de saint-aignan is a senior advisor and a former 
159 
director managing director of morgan stanley. since joining morgan stanley in 
1974, he has served in various capacities at morgan stanley, including as 
firm risk manager, chairman of morgan stanley sa, france, head of the 
debt capital market and head of the derivative products group. from 1985 
to 1992, mr. de saint-aignan held various positions as a director and 
chairman of the international swaps and derivatives association. mr. de 
saint-aignan is also a statutory advisor to the supervisory board of ixis 
corporate and investment bank, a subsidiary of natixis. mr. de 
saint-aignan graduated from the ecole des hautes etudes commerciales in 
1971 and received a master’s degree with distinction in business 
administration from harvard business school in 1974. 
alberto togni independent 
non-executive 
director 
has served as an independent non-executive director of the bank since june 
2006. mr. togni joined swiss bank corporation, a predecessor of ubs ag 
in 1959 and after the merger between swiss bank corporation and union 
bank of switzerland in 1998, continued in ubs ag’s employment until his 
retirement in april 2005. during his 46-year career with swiss bank 
corporation and (after 1998) ubs ag, mr. togni served in various 
capacities. from 1998 to 2005, he was executive vice chairman of ubs ag 
overseeing the risk profile of the group. from 1994 to 1997, he was group 
chief credit officer and group chief risk officer at swiss bank corporation. 
prior to 1994, he held various positions at swiss bank corporation in charge 
of the bank’s worldwide credit portfolio. mr. togni held a banking 
certificate from the swiss business school. he graduated in 1965 from the 
new york institute of finance with a degree in investment analysis. 
notes： 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 
supervisors 
liu ziqiang chairman of 
board of 
supervisors 
has served as chairman of our board of supervisors since august 2004. mr. 
liu was chairman of the board of supervisors of our bank before our corporate 
restructuring from july 2003 to august 2004. he was chairman of the board of 
supervisors of the agricultural development bank of china from june 2000 to 
160 
july 2003, and vice president of the ccb from april 1997 to june 2000 and 
head of planning department of ccb from february 1995 to april 1997. from 
november 1986 to may 1994, mr. liu held various positions in financial 
institutions in shenzhen, including as chief of the shenzhen development 
bank preparation team, deputy general manager of shenzhen agricultural 
bank, and acting president, board chairman and general manager of 
shenzhen development bank. mr. liu received a master's degree in economics 
from the graduate school of the pboc in 1984. 
wang 
xueqiang 
supervisor has been a supervisor since august 2004. mr. wang served as a 
director-general supervisor of the bank before our corporate restructuring 
from july 2003 to august 2004. from october 2001 to july 2003, mr. wang 
served as a deputy director-general supervisor designated directly by the state 
council at the agricultural development bank of china. mr. wang worked for 
the mof and the central financial working commission from april 1985 to 
october 2001. mr. wang obtained two bachelor's degrees from central 
university of finance and economics in 1996 and from china renmin 
university in 1998. mr. wang is a certified public accountant qualified by the 
chinese institute of certified public accountants. 
liu wanming supervisor has been a supervisor of the bank since august 2004. from november 2001 to 
august 2004, designated directly by the state council, he served as a director 
supervisor at bank of communications and a deputy director-general 
supervisor at our bank. from august 1984 to november 2001, mr. liu worked 
with the national audit office, the agricultural development bank of china 
and bank of communications. mr. liu received a bachelor's degree in 
economics from jiangxi university of finance in 1984. 
li chunyu employee 
supervisor 
has served as an employee supervisor of bank of china limited since 
december 2004. since august 2000 mr. li has served as chairman of the 
labor union of the head office for our employees. from 1992 to july 2000, he 
worked for our human resources department. mr. li holds a secondary 
college diploma. 
liu dun employee has served as an employee supervisor of bank of china limited since 
161 
supervisor december 2004. since 1991, mr. liu has worked for the international 
settlement division, credit division and corporate business division of our 
shandong branch. mr. liu received a master's degree in economics from the 
university of science and technology of china in 1991. 
senior management 
li lihui president please refer to the part on “directors” 
hua qingshan executive 
director and 
executive vice 
president 
please refer to the part on “directors” 
li zaohang executive 
director and 
executive vice 
president 
please refer to the part on “directors” 
zhou zaiqun executive vice 
president 
has served as an executive vice president of the bank since november 2000. 
from november 2000 to august 2004, mr. zhou also concurrently served as 
executive vice president and director of mastercard international, 
asia-pacific. prior to joining us, mr. zhou was the general manager of the 
beijing branch of icbc from december 1999 to november 2000 and the 
general manager of the accounting and financial planning departments of the 
icbc from january 1997 to december 1999. mr. zhou received a master's 
degree from the northeast institute of finance and economics in 1996. since 
june 2002, mr. zhou has been serving as a non-executive director in the 
bochk holdings, one of our subsidiaries with shares listed on the hong kong 
stock exchange. 
zhang 
yanling 
executive vice 
president 
has served as an executive vice president of bank of china limited since 
march 2002. ms. zhang joined our bank in 1977. from october 2000 to march 
2002, she was an assistant president of our bank. from april 1997 to august 
162 
2002, ms. zhang successively served as general manager of our banking 
department, general manager of our milan branch and general manager of 
our legal and compliance department. ms. zhang has also served as vice 
chairperson of the international chamber of commerce banking commission 
since july 2003. ms. zhang graduated from liaoning university in 1977 and 
received a master's degree from wuhan university in 1999. sincejune 2002, 
ms. zhang has been serving as a non-executive director in the boc hong 
kong holdings, one of our subsidiaries with shares listed on the hong kong 
stock exchange. since september 2003, ms. zhang has been in succession 
serving as chairman and vice chairman of the board of directors in boci. 
zhang lin secretary of 
party discipline 
committee 
has served as secretary of party discipline committee of the bank since 
august 2004. prior to joining our bank, ms. zhang held various positions in the 
export-import bank of china, including assistant president from june 2002 to 
august 2004 and deputy director and director of its personnel education 
division from august 1998 to july 2002. ms. zhang graduated from the 
politics and economy department of the party school of the inner mongolian 
autonomous region's communist party committee in 1983. 
zhu min executive vice 
president 
has served as executive vice president of the bank since august 2006. mr. 
zhu joined our bank in 1996 and served as assistant president of bank of 
china since november 2003. mr. zhu sequentially served as general manager 
of the institution of international finance, general manager of the 
restructuring and listing office for bochk ipo, and then general manager 
of restructuring and listing office for boc ipo. he also serves as general 
manager of the board secretariat of the bochk. mr. zhu graduated from 
fudan university with a bachelor's degree in 1982. he also obtained a master’s 
degree in public affairs from princeton university and a ph.d. degree from 
johns hopkins university. 
wang yongli executive vice 
president 
has served as executive vice president of the bank since august 2006. he 
joined our bank in 1989 and served as assistant president of the bank since 
november 2003. from april 1999 to january 2004, mr. wang held various 
positions in our bank, including general manager of the asset-liability 
management department, acting deputy general manager and general 
163 
manager of our fujian branch, and general manager of our hebei branch. mr. 
wang graduated from china renmin university and received a master's degree 
in 1987. he also obtained a doctor's degree from xiamen university in 2005. 
yeung jason 
chi wai 
secretary to the 
board of 
directors 
was appointed as the board and company secretary of the bank in november 
2005. he is also the company secretary of bochk holdings and bochk. 
prior to joining bochk, mr. yeung was the general counsel and a director of 
china everbright limited and, before that, a partner of woo, kwan, lee & lo. 
he has also served at the securities and futures commission in hong kong as 
a corporate finance manager. mr. yeung graduated from the university of 
hong kong with a bachelor's degree in social sciences in 1978. he also 
graduated from the college of law, uk in 1985 and further obtained a 
bachelor's degree in law from the university of western ontario, canada in 
1991 and a mba degree from the richard ivey business school, university of 
western ontario, canada in 2001. 
changes in directors, supervisors and senior management 
during the period 
for details of the changes in the bank’s directors during the period please refer to directors 
and the board of directors in corporate governance. 
there has been no change in the bank’s supervisors during the report period. 
during the period, the changes in the bank’s senior management are as follows: 
(1) mr. lonnie dounn, chief credit officer (cco), tendered his resignation for 
personal reason in april 2006, effective in september, 2006. 
(2) at the meeting of board of directors held on 29 august 2006, the board approved the 
appointments of mr. zhu min and mr. wang yong li as executive vice presidents of 
the bank. the board also approved the resignation of mr. zhu xinqiang as executive 
assistant president of the bank. 

164 
corporate governance 
in 2006, the bank continued its efforts to promote sound corporate governance and the 
improvement of its corporate governance framework as a modern joint-stock company, 
which is composed of the shareholder’s meeting, the board of directors, the board of 
supervisors and senior management in compliance with the company law and the law 
on commercial banks, and relevant regulations promulgated by regulatory authorities. 
the bank further revised its articles of association in accordance with which all relevant 
parties lawfully and independently exercised their rights and discharged their obligations. 
the bank has adopted incremental measures to enable it to observe the code on 
corporate governance practices (“the code”) in appendix 14 of the hong kong listing 
rules. the bank has complied with the code provisions, and has substantially complied 
with the recommended best practices set out in the code. the bank also observes the 
laws and regulations of the places of business operations as well as various provisions 
and guidelines of regulatory authorities. 
corporate governance framework 
the bank’s corporate governance framework centers on the board of directors, which 
provides guidance and effective oversight of the senior management, and is separated 
from the business operation undertaken by senior management. the major 
responsibilities of the board of directors are as follows: developing strategic guidelines 
and business plans for the bank; formulating annual budgets, profit distribution and other 
major financial plans; approving annual and interim business results; appointing members 
of special committees and senior management personnel; approving the bank’s 
fundamental management process; proposing the appointment, reappoint or replacement 
of the internal auditor; reviewing reports from and monitoring the work of senior 
management. 
the board of directors has set up the strategic development committee, audit 
committee, risk policy committee, personnel and remuneration committee, and 
connected transaction control committee, which assist the board in performing its 
165 
functions in different aspects. the positions of the chairman and the president are 
assumed by two persons respectively, in order to avoid undue concentration of power. 
the bank’s corporate governance framework is shown below: 
shareholders and shareholder’s meeting 
the shareholder’s meeting is the highest authority within the bank. the bank establishes 
an effective channel to communicate with shareholders, to ensure that all shareholders are 
treated equally, are properly informed and are able to participate in and exercise their 
voting and other rights on major issues of the bank as shareholders. in 2006, the bank 
held an annual shareholders’ meeting and four extraordinary shareholders’ meetings in 
compliance with the provisions of the articles of association, and reviewed the proposals 
relating to the working reports of the board of directors and the board of supervisors, 
appointment of external auditors and approval of auditors’ fees, amendments to the 
articles of association, annual financial report, issue and allotment of shares and public 
listing, appointment of independent non-executive directors and non-executive directors, 
and profit distribution plan. these were instrumental to the bank’s successful h-share 
and a-share ipos in hong kong and on the chinese mainland, and to its long-term, 
shareholder’s meeting 
senior management 
board of directors board of supervisors 
asset-liability management committee 
procurement review committee 
internal control committee 
business development committee 
asset disposal committee 
anti-money laundering committee 
strategic development committee 
risk policy committee 
connected transaction control 
committee 
audit committee 
personnel and remuneration 
committee 
166 
sound and sustainable development. 
directors and the board of directors 
being responsible for the shareholder’s meeting, the board of directors is the bank’s 
decision-making body. in 2006, two independent non-executive directors and two 
non-executive directors were appointed to the board. mr. patrick de saint-aignan and 
mr. alberto togni were appointed as independent non-executive directors of the bank 
respectively on january 14 and june 1, 2006. sir. frederick anderson goodwin and mr. 
seah lim huat peter were appointed as non-executive director of the bank respectively 
on january 14 and june 1, 2006. the board of directors currently comprises 16 members. 
other than the chairman, there are four independent non-executive directors, eight 
non-executive directors and three executive directors. for a detailed background of the 
board members, please refer to the section “directors, supervisors and senior 
management” in this annual report. 
xiao gang, chairman of the bank, also serves as chairman of bochk holdings, and 
executive director messrs hua qingshan and li zaohang, serves as non-executive 
directors of bochk holdings. 
the bank purchased directors and officers liability insurance in 2006 for members of 
the board to provide protection against claims arising from the lawful discharge of duties 
on the part of the directors. 
in 2006, the board of directors held eight meetings (including three extraordinary 
meetings) respectively on january 29, march 7, march 27, april 17/april 20, june 2, 
august 29, october 30 and december 14, and passed seven written resolutions. the 
resolutions relate mainly to the bank’s development strategy, business plan and financial 
budget, financial reports, profit distribution plan, self-evaluation of the board of 
directors, revision of the articles of association, appointment of external auditor and 
approval of auditor’s fees, performance evaluation and distribution of bonus for senior 
management, appointment of non-executive directors and independent non-executive 
directors, ipo, changes in the senior management, market risk limits, reform of the 
167 
business process and organization, and information disclosure policy of the bank. the 
board meetings also reviewed the management report rendered by the external auditor 
and the response of the management, on-site inspection report by cbrc and the 
corrective measures taken by the bank, and progress report on the implementation of the 
it blueprint. 
the average attendance rate of the board meetings reached 96%. the attendance rate of 
each director is shown below: 
director number of board meetings 
attended note 1 
attendance rate 
xiao gang attended 8 out of a total of 8 
meetings 
100% 
lilihui attended 8 out of a total of 8 
meetings 
100% 
zhangjinghua attended 8 out of a total of 8 
meetings 
100% 
yu erniu attended 8 out of a total of 8 
meetings 
100% 
zhu yan attended 8 out of a total of 8 
meetings 
100% 
zhang xinze attended 8 out of a total of 8 
meetings 
100% 
hong zhihua attended 8 out of a total of 8 
meetings 
100% 
huang haibo attended 8 out of a total of 8 
meetings 
100% 
sir frederick anderson 
goodwin note 2 
attended 5 out of a total of 8 
meetings 
63% 
seah lim huat peter note 3 attended 4 out of a total of 4 
meetings 
100% 
hua qingshan note 4 attended 7 out of a total of 8 
meetings 
88% 
li zaohang attended 8 out of a total of 8 100% 
168 
meetings 
anthony francis neoh attended 7 out of a total of 8 
meetings 
88% 
william 
peter cooke 
attended 8 out of a total of 8 
meetings 
100% 
patrick de 
saint-aignan 
attended 8 out of a total of 8 
meetings 
100% 
alberto togni note3 attended 4 out of a total of 4 
meetings 
100% 
notes: 
1. according to the articles of association of the bank, a director can entrust another director to 
attend the board meeting and excise the voting right on his or her behalf. 
2. sir frederick anderson goodwin was unable to personally attend the board meetings held on 
january 19, march 27 and december 14. he entrusted another director to attend and exercise the 
voting right on his behalf at the meetings on march 27 and december 14. 
3. the appointment of mr. seahlim huat peter and mr. alberto togni as directors of the bank were 
approved at the shareholder’s meeting held on april 21, 2006, and were given regulatory approval by 
cbrc on june 1, 2006. they were present at the board meetings held on june 2, august 29, october 
30 and december 14, 2006. 
4. mr. hua qingshan was unable to personally attend the board meeting held on 14 december 2006, 
but entrusted another directors to attend and exercise voting right on his behalf. 
the strategic development committee 
the strategic development committee comprises 11 members, including the chairman 
of the board, one executive director, eight non-executive directors and one independent 
non-executive director. xiao gang, chairman, serves as committee chairman. committee 
members include li lihui, zhang jinghua, yu erniu, zhu yan, zhang xinze, hong 
zhihua, huang haibo, sir frederick anderson goodwin, seah lim huat peter and 
alberto togni. the committee is mainly responsible for developing the strategic plan of 
the bank, assessing the effectiveness of the plan and reviewing and assessing programs 
on the following issues and submitting them to the board of directors for review: 
● strategic development plans; 
● annual budgets; 
● capital allocation plans; 
● merger and acquisition plans; 
169 
● major investment and financing plans; 
● substantial internal restructuring and adjustment. 
the strategic development committee held six meetings (including three extroaordinary 
meetings) in 2006, and passed one written resolution. at these meetings, the committee 
reviewed the bank’s development strategy, business development plan for 2006-2008, 
business plan for 2007-2009, and other proposals. 
the average attendance rate of the meetings of the strategic development committee 
reached 91%. the attendance rates of relevant directors are shown below: 
director number of committee 
meetings attended 
attendance rate 
xiao gang attended 6 out of a total of 6 
meetings 
100% 
li lihui attended 6 out of a total of 6 
meetings 
100% 
zhang jinghua attended 6 out of a total of 6 
meetings 
100% 
yu erniu note 1 attended 5 out of a total of 6 
meetings 
83% 
zhuyan attended 6 out of a total of 6 
meetings 
100% 
zhang xinze attended 6 out of a total of 6 
meetings 
100% 
hong zhihua attended 6 out of a total of 6 
meetings 
100% 
huang haibo attended 6 out of a total of 6 
meetings 
100% 
sir frederick anderson 
goodwin note 2 
attended 1 out of a total of 6 
meetings 
17% 
seah lim huat peter attended 2 out of a total of 2 
meetings 
100% 
alberto togni attended 2 out of a total of 2 
meetings 
100% 

170 
notes: 
1. director yu erniu entrusted another director to attend and exercise voting right on his behalf at one 
meeting. 
2. sir frederick anderson goodwin entrusted other directors to attend and exercise voting right on his 
behalf at three meetings. 
the audit committee 
the audit committee comprises seven members, including three non-executive directors 
and four independent non-executive directors. independent non-executive director patrick 
de saint-aigan acts as committee chairman. committee members include zhu yan, 
huang haibo, anthony francis neoh, william petercooke, seah lim huat peter and 
alberto togni. the committee is mainly responsible for: 
.. recommending the replacement/appointment and fees of the external auditor, 
and assessing its performance and independence; 
.. reviewing the external auditor’s audit report, internal control report and audit 
plan; 
.. reviewing the financial reports, other financial disclosure and significant 
accounting and auditing policies and regulations; 
.. approving the internal audit charter and overseeing the organizational structure 
re-engineering, promoting the vertical management; approving the internal audit 
plan and the budget, ensuring its independence and evaluating its performance; 
.. nominating the chief audit officer who reports directly to and is evaluated by 
the committee, refining the chief audit officer’s responsibilities and evaluating 
his or her performance; 
.. overseeing the bank’s internal controls and reviewing the rectification progress 
in relation to the external auditor’ findings, including reviewing internal audit 
report findings, management's feedback and rectification plans, and discussing the 
adequacy of internal control with the chief audit officer and the external auditor; 
.. promoting self-evaluation of internal control and the compliance with relevant 
disclosure requirements of stock exchanges. 
171 
the audit committee held six meetings in 2006, mainly reviewing financial reports, 
dividend and profit distribution plan; the bank’s financial management measures, 
business plan and expense budget for 2006; management suggestion by the external 
auditor for 2005 and feedback of the management, external auditor’s audit plan, scope 
and fees; internal audit plan and budget, internal audit improvement program, and 
candidates for chief audit officer. 
the attendance rate of the meetings of the audit committee was 100%. the attendance 
rates of relevant directors are shown below: 
director number of committee 
meetings attended 
attendance rate 
patrick de saint-aignan 
attended 6 out of a total of 6 
meetings 
100% 
zhu yan 
attended 6 out of a total of 6 
meetings 
100% 
huang haibo 
attended 6 out of a total of 6 
meetings 
100% 
anthony francis neoh 
attended 6 out of a total of 6 
meetings 
100% 
william peter cooke 
attended 6 out of a total of 6 
meetings 
100% 
seah lim huat peter 
attended 2 out of a total of 2 
meetings 
100% 
alberto togni 
attended 2 out of a total of 2 
meetings 
100% 
the audit committee has reviewed the 2006 annual report of the bank. the bank’s 
external auditors, pricewaterhousecoopers zhong tian certified public accountants 
limited has audited the 2006 financial statements of the bank prepared in accordance 
with prc gaap and pricewaterhousecoopers hong kong has audited the financial 
statements of the bank prepared in accordance with ifrs. both firms have issued 
unqualified audit reports. the audit committee has discussed matters relating to the 
accounting standards and practices adopted in the financial statements, internal control 
172 
and the financial statements. 
the group has established a basic framework of self-assessment of its internal control. 
the self-assessment focused on key areas of internal control, including financial control, 
operation control, compliance and risk management. management has reported the result 
of assessment on key controls to the audit committee and the board. 
the risk policy committee 
the risk policy committee comprises 6 members, including two non-executive directors, 
one executive director, and three independent non-executive directors. mr. anthony 
francis neoh, an independent non-executive director, acts as the committee chairman. 
committee members include zhang jinghua, zhang xinze, hua qingshan, patrick de 
saint-aignan and alberto togni. the committee is mainly responsible for: 
.. assessing and monitoring the implementation of the bank’s risk management 
and internal control policies, including credit policies; 
.. overseeing the exposure against established parameters while monitoring and 
assessing the bank’s risk appetite; 
.. reviewing the effectiveness of our legal and compliance process and 
monitoring its implementation; 
.. reviewing and approving credit decisions in excess of the credit authorization 
limits delegated to the bank’s president. 
the risk policy committee held four meetings in 2006. at these meetings, the committee 
reviewed proposals relating to the suggestions on risk appetite of the bank in 2006, 
market risk management policies, market risk exposure limits in 2006, amendments to the 
regulations on the management of credit approval authorization of head office of the 
bank, policies on anti-money laundering and anti-terrorism financing, and credit 
proposals in excess of the credit authorization limits delegated to the management. 
the attendance rate of the meetings of the risk policy committee was 100%. the 
attendance rates of relevant directors are shown below: 
173 
director number of committee 
meetings attended 
attendance rate 
anthony francis neoh 
attended 4 out of a total of 4 
meetings 
100% 
zhangjinghua 
attended 4 out of a total of 4 
meetings 
100% 
zhang xinze 
attended 4 out of a total of 4 
meetings 
100% 
hua qingshan 
attended 4 out of a total of 4 
meetings 
100% 
patrick de saint-aignan 
attended 4 out of a total of 4 
meetings 
100% 
alberto togni 
attended 1 out of a total of 1 
meeting 
100% 
the personnel and remuneration committee 
the personnel and remuneration committee comprises five members, including two 
non-executive directors and three independent non-executive directors. non-executive 
director yu erniu acts as the committee chairman. committee members include hong 
zhihua, anthony francis neoh, william peter cooke and patrick de saint-aignan. the 
committee is mainly responsible for: 
.. reviewing the bank’s human resource and remuneration policies and 
overseeing their implementation; 
.. nominating the bank’s directors and the members of senior management; 
.. reviewing the standards and procedures for selecting, nominating and 
appointing directors, members of the bank’s board committees and senior 
management; 
.. reviewing the remuneration policies submitted by the bank’s management; 
.. formulating the standards for reviewing the performance of the bank’s senior 
174 
management, and appraising the performance of the directors and senior 
management personnel. 
the personnel and remuneration committee held five meetings in 2006, at which it 
reviewed the remuneration plans and incentive measures for directors, supervisors and 
senior management personnel, set the performance evaluation targets and formulated 
evaluation measures for management personnel, determined total amount of personnel 
expenses and the distribution principle, reviewed the suitability of candidates for 
directors, executive vice presidents, chief financial officer, chief risk officer, chief audit 
officer and members of the board committees, and reviewed the evaluation guidelines 
and plans for the board of directors and the accountability measures for management 
personnel. 
the average attendance rate of the meetings of the personnel and remuneration 
committee reached 92%. the attendance rates of relevant directors are shown as below: 
director number of committee 
meetings attended 
attendance rate 
yu erniu 
attended 5 out of a total of 5 
meetings 
100% 
hong zhihua 
attended 5 out of a total of 5 
meetings 
100% 
anthony francis neoh 
attended 4 out of a total of 5 
meetings 
80% 
william peter cooke 
attended 4 out of a total of 5 
meetings 
80% 
patrick de saint-aignan 
attended 5 out of a total of 5 
meetings 
100% 
the connected transaction control committee 
the connected transaction control committee comprises four members, including two 
executive directors and two independent non-executive directors. independent 
non-executive director william peter cooke acts as the committee chairman. committee 
175 
members include hua qingshan, li zaohang and anthony francis neoh. the committee 
is mainly responsible for: 
.. formulating policies and procedures with regard to connected transactions; 
.. identifying the related parties of the bank and reporting to the board of 
directors and the board of supervisors; 
.. identifying the connected transactions pursuant to related laws and regulations; 
.. reviewing the major connected transactions of the bank according to chinese 
laws and regulations. 
the connected transaction control committee held four meetings in 2006, at which it 
reviewed the proposals regarding the bank's connected transaction management measures, 
division of responsibilities for connected transaction control, and letters of undertaking 
by related parties. 
the average attendance rate of the meetings of the connected transaction control 
committee reached 88%. the attendance rates of relevant directors are shown below: 
director number of committee 
meetings attended 
attendance rate 
william peter cooke 
attended 4 out of a total of 4 
meetings 
100% 
hua qingshan 
attended 3 out of a total of 4 
meetings 
75% 
li zaohang 
attended 4 out of a total of 4 
meetings 
100% 
anthony francis neoh 
attended 3 out of a total of 4 
meetings 
75% 
appointment of directors 
in compliance with articles a4.1 and a4.2 of the hong kong listing rules and 
provisions of the bank’s articles of association, the bank’s directors are elected at the 
176 
shareholder’s meeting, with a term of office of three years starting from the date when 
the bank receives the approval of the cbrc. a director, at the expiry of the term of 
office, could be re-elected at the shareholder’s meeting, and may serve consecutive terms 
by re-election and reappointment. 
independent non-executive directors 
members of the board of directors include four independent non-executive directors, in 
compliance with the requirement on quorum specified in the articles of association. 
these independent non-executive directors serve as members of five special committees 
under the board of directors. 
as stipulated in article 3.13 of the hong kong listing rules, the bank has received the 
annual confirmation in writing from every independent non-executive director with 
regard to his independence. based on such confirmation and relevant information in its 
possession, the bank confirms their independent status. 
information on the attendance of independent non-executive directors at board meetings 
in 2006 can be found in the section “directors and the board of directors” under 
“corporate governance”. 
different opinions raised by independent non-executive directors on 
relevant matters of the bank: 
on 29 august 2006, the board resolved to approve the bank's market risk limits during 
which 14 directors voted for, 1 director voted against and 1 director abstained. 
independent non-executive director patrick de saint-aignan voted against the resolution 
stating that the limits were too high particularly given the state of risk management 
capabilities of the bank. 
specific explanation and independent opinions of independent 
non-executive directors on the guarantee business of the bank 
pursuant to the provisions and requirements set forth in the circular (zjf [2003] no.56) 
issued by the china securities regulatory commission and guided by the principle of 
equity, fairness and objectiveness, the independent directors of the bank anthony francis 
177 
neoh, william peter cooke, patrick de saint-aignan, and alberto togni provide the 
following information regarding the bank’s guarantee business: 
the guarantee business is one of the bank’s ordinary businesses, and has been approved 
by the people’s bank of china and the cbrc. the bank has formulated specific 
management measures, operational process and approval procedures in line with the risks 
of guarantee business, and carried out the business accordingly. the bank’s guarantee 
business comprises principally of, letters of guarantee. as at december 31, 2006, the 
outstanding amount of letters of guarantee issued by the bank reached rmb 290.205 
billion. 
supervisors and the board of supervisors 
the board of supervisors is the bank’s supervisory organ responsible to the shareholder 
s’ meeting. as stipulated in the company law and the articles of association, the 
board of supervisors is responsible for overseeing the bank’s financial activities and the 
legality and compliance of the board of directors and senior management in performing 
their responsibilities. 
the board of supervisors comprises five supervisors, including three supervisors 
assumed by representatives of shareholders and two supervisors assumed by staff 
representatives. according to the bank’s articles of association, supervisors have a term 
of office of three years, and may serve consecutive terms by reelection and reappointment. 
shareholder representative supervisors and external supervisors are elected or replaced by 
the shareholder’s meeting. 
the board of supervisors held six meetings in 2006, and adopted related resolutions. for 
the performance and supervision opinions of the board of supervisors within the report 
period, please refer to the “report of the board of supervisors” in this annual report. 
senior management 
the senior management is the bank’s executive body and reports to the board of 
directors. headed by the president, the senior management comprises executive vice 
178 
presidents and other senior management personnel, who assist the president in managing 
the bank’s business. principal responsibilities of the president include: presiding over the 
bank’s administrative, business and financial management, implementing resolutions of 
the board of directors, drafting the bank’s business and investment plans, drafting the 
bank’s basic management rules and specific regulations, nominating other senior 
management personnel, and determining the bank’s overall remuneration, benefit, reward 
and punishment measures. 
in 2006, the senior management carried out the bank’s day to day business, achieved 
operating targets and further promoted the rapid development of each business line within 
the scope of authorities established by the articles of association and the board of 
directors. 
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 hong kong listing rules to govern securities 
transactions by directors and supervisors. the bank has made specific enquiry of all 
directors and supervisors, and the directors and supervisors have confirmed that they 
have complied with the required standards set out in the said model code throughout the 
year in 2006. 
responsibility statement of directors on financial reports 
the following statement, which set out the responsibilities of the directors regarding 
financial statements, should be read in conjunction with, but distinguished from, the 
auditors’ statement of their responsibilities as set out in the auditors’ report contained in 
this annual report. 
the directors acknowledge that they are responsible for preparing financial statements of 
the bank that truly represents the operating results of the bank for each financial year. to 
the best of the directors’ knowledge, there was no material event or condition that might 
have a material adverse effect on the continuing operation of the bank. 
179 
appointment or termination of external auditors 
at the 2005 annual general meeting of the bank, our shareholders approved the 
resolution in respect of the appointments of pricewaterhousecoopers zhong tian cpas 
company limited (pwc zhong tian) as our domestic auditor and 
pricewaterhousecoopers hong kong (pwc) as our international auditor for 2006. the 
directors were authorised to negotiate and determine the fees of such auditors in 
accordance with market practice. 
auditors’ fees paid to pricewaterhousecoopers and its member firms for the audit of the 
financial statements of the group, including those of the bank’s overseas subsidiaries and 
branches, for the year ended 31 december 2006 were rmb 183 million. 
the bank also incurred approximately rmb 136 million for services provided by pwc 
and pwc zhong tian in respect of the global initial public offerings (“ipo”) and listing 
of the bank’s shares on the hong kong stock exchange and shanghai stock exchange. 
this amount has been charged to the capital reserve account. 
except for the above-mentioned ipo service fees, neither pwc nor pwc zhong tian has 
provided any material non-audit services to us. the total professional fees paid for 
non-audit services, exclusive of the ipo service fees, to pwc and pwc zhong tian were 
rmb 18 million in 2006. 
pwc and pwc zhong tian have provided audit services to the bank for four years. mr. 
zhu yu and mr. tu yi are the certified public accountants who signed the auditor’s report 
on the group’s financial statements prepared in accordance with prc gaap for the year 
ended 31 december 2006. 
the board will table a resolution at the forthcoming annual general meeting, proposing 
to reappoint pwc zhong tian and pwc as our auditors for the year 2007. 
investor relations and information disclosure 
180 
the bank discloses information in compliance with securities regulations promulgated in 
the place where its shares were listed, and publishes periodic reports and announcements 
to the public in accordance with the law, to ensure that information disclosure is timely, 
fair, accurate, truthful and complete, and the legitimate rights and interests of investors 
and related stakeholders are safeguarded. since we are dual listed in hong kong and 
shanghai , the bank carries out information disclosures according to the stricter of the 
two regulatory standards to ensure that all investors are treated fairly. to expedite the 
establishment of the information disclosure process and enhance the transparency of 
information disclosure, the bank formulated the information disclosure policy pursuant 
to securities regulations promulgated in the place where its shares were listed. the policy 
has been adopted by the board of directors, and provides in principle for the content, 
form, procedure and management of information disclosure. based on the policy, the 
bank will prepare more specific and practical measures on information disclosure 
management. 
the bank communicates with and promote understanding from investors by means of 
results presentation, press conference, road show, reception of visits from institutional 
investors, online live broadcast, e-mail, and telephone hotline. we also actively 
participate in meetings with analysts and investors at conferences held by international 
and domestic securities institutions, so as to enable investors to understand the bank’s 
specific development strategy, business management and performance in a timely manner, 
and receive investor feedback on the bank. apart from communications with analysts 
during the announcement of annual and interim results, the bank’s senior management 
also meets institutional investors and analysts from time to time. 
after the ipo, the bank enhances understanding and communications with investors by 
many means. it held a total of 83 meetings participated by senior management personnel, 
domestic and overseas investors and analysts. 
market recognition 
in the report period, the bank won the award of “2006 best ir for an ipo in the hong 
kong market”, and two honorable mentions: the “best annual report and other 
181 
company communications” and the “best ir for chinese companies in the hong kong 
market” in the hong kong and taiwan awards selection campaign held by ir magazine 
in 2006. in the mainland china awards selection campaign held by the magazine, the 
bank was granted the award of “2006 best ir for a corporate transaction” and 
nominated for the “grand prix for best overall ir - soe”. ir magazine is a monthly 
magazine on investor relations that is most authoritative in the world. the said awards 
and nominations were appraised by 342 buy-side and sell-side analysts and fund 
managers from mainland china, hong kong, taiwan, singapore and other regions in 
asia at the invitation of ir magazine. 
182 
report of board of directors 
the board of directors are pleased to present their report together with the audited 
consolidated financial statements of the bank and its subsidiaries (the “group”) for the 
year ended 31 december 2006. 
principal activities 
the bank is engaged in the provision of a range of banking and related financial services, 
including commercial banking, investment banking and insurance businesses. 
major customers 
during the year, the five largest customers of the group accounted for less than 30% of 
the interest income and other operating income of the group. 
results and appropriations 
the results of the group for the year are set out in the financial statements and notes 
thereof. 
the board has recommended a final dividend of rmb0.04 per share, amounting to 
approximately rmb10.154 billion, subject to the approval of shareholders at the 
forthcoming annual general meeting to be held on thursday, 14 june 2007. if 
approved, detail arrangement of the final dividend distribution (including the closure of h 
share register of members; the record date to determine h share and a share 
shareholders’ entitlement to the final dividend) for each of a share and h share will be 
announced after the annual general meeting separately. 
the 2006 final dividend of the bank will be denominated and declared in rmb. 
dividend for a share shareholders will be paid in rmb and dividend for h share 
shareholders will be paid in hong kong dollars. rmb will be converted into hong 
kong dollars based on the average exchange rate prevailing one week before 14 june 
2007 (such day inclusive), being the date of holding the bank’s annual general meeting, 
183 
as announced by the people’s bank of china for such conversion. 
no interim dividend was paid for the period ended 30 june 2006. at the shareholders’ 
meeting held in april 2006, it was approved that a dividend amounting to rmb 1.375 
billion in total, was paid to shareholders whose names appeared on the register of 
members of the bank on 31 december 2005. 
closure of register of h share shareholders 
the h share register of members of the bank will be closed, for the purpose of 
determining h share shareholders’ entitlement to attend the annual general meeting, 
from wednesday, 16 may 2007 to thursday, 14 june 2007 (both days inclusive), during 
which period no transfer of shares will be registered. in order to attend the annual 
general meeting, h share shareholders should ensure that all transfer documents, 
accompanied by the relevant share certificates, are lodged with the bank’s h share 
registrar, computershare hong kong investor services limited, at rooms 1712-1716, 
17th floor, hopewell centre, 183 queen’s road east, hong kong, not later than 4:30 pm 
on tuesday, 15 may 2007. 
there is no book closure period for a share register of members. a notice of annual 
general meeting setting out the record date for the meeting and related issues will be 
published in due course. 
donations 
charitable and other donations made by the group during the year amounted to 
approximately rmb 12.35 million. 
share capital 
as at the latest practicable date prior to the issue of this annual report and based on 
publicly available information, the bank has sufficient public float, in compliance with 
the minimum requirement of the hong kong listing rules and the waiver granted by the 
hong kong stock exchange at the time of our listing. 

184 
distributable reserves 
please refer to section notes 36 under section v. of the notes to the financial statements 
for details of distributable reserves of the bank. 
fixed assets 
please refer to note 22 under section v. to the financial statements for details of the 
fixed assets of the bank. 
financial summary 
the bank was listed on the hong kong stock exchange and shanghai stock exchange 
respectively in 2006. a summary of the annual results, assets and liabilities of the bank 
for the last four years is set out in the section of “financial summary”. 
connected transactions 
under chapter 14a of the hong kong listing rules, transactions between connected 
persons (as defined under the hong kong listing rules) and the bank will constitute 
connected transactions to the bank. the details of such connected transactions are as 
follows: 
exempt continuing connected transactions 
commercial banking services and products provided by the bank in the ordinary 
and usual course of business 
the bank provides commercial banking services and products to customers in the 
ordinary and usual course of business. such commercial banking services and products 
include the taking of deposits. customers who place deposits with the bank may include 
the bank’s substantial shareholders, directors, supervisors and chief executive officers, 
ex-directors who were in office within 12 months preceding the h-share listing date and 
their respective associates, each of whom is a connected person. according to chapter 
14a of the hong kong listing rules, connected persons place deposits with the bank 
will constitute continuing connected transactions for the bank. 
185 
furthermore, bochk has preferential interest rates for deposits placed by employees of 
bochk. the deposits placed by connected persons who are not the bank’s employees 
are at market rates and on normal commercial terms. to the extent staff rates are available 
for employees, the interest paid by the bank on deposits placed by connected persons 
who are the bank’s employees are at staff rates, but such deposits are nevertheless on 
normal commercial terms as such terms are no more favorable than the staff rates 
applicable to other employees who are not connected persons. 
the provision of commercial banking services and products to connected persons in the 
ordinary and usual course of business and on normal commercial terms that are 
comparable or no more favorable than those offered to independent third parties 
(including other comparable employees who are not connected persons) will be exempt 
continuing connected transactions under rule 14a.65(4) of the hong kong listing rules, 
namely,financial assistance provided by a connected person in the form of deposits 
placed with a listed issuer for the benefit of a listed issuer on normal commercial terms 
(or better to the listed issuer) where no security over the assets of the listed issuer is 
granted in respect of the financial assistance, and thus will be exempt from the reporting, 
announcement and independent shareholders' approval requirements contained in rules 
14a.35 and 14a.45 to 14a.48 of the hong kong listing rules. 
loan and credit facilities granted by the bank to connected persons 
the bank extends loans and credit facilities (including provision of long-term loans, 
short-term loans, consumer loans, credit card facilities, mortgages, guarantees, security 
for third party loans, comfort letters and billing discounting facilities) to customers in the 
ordinary and usual course of business on normal commercial terms with reference to 
prevailing market rates. customers who utilize loans and credit facilities include the 
bank’s substantial shareholders, directors, supervisors and chief executive director, 
ex-directors who were in office within 12 months preceding the h-share listing date and 
their respective associates, each of whom is a connected person under chapter 14a of the 
hong kong listing rules. according to chapter 14a of the hong kong listing rules, 
loans and credit facilities granted by the bank to connected persons constitute continuing 
connected transactions for the bank. 
186 
the bank has preferential staff rates for employees who utilize great wall renminbi 
credit cards and boc credit cards. such preferential rates include waiver of annual fees 
and reduced handling fees. furthermore, bochk has preferential staff rates for 
employees who use its credit cards. 
the bank also has preferential staff rates for residential loans and mortgages taken out by 
the bank’s employees, and the head office and branches have preferential staff rates for 
consumer loans taken out by the bank’s employees. these preferential staff rates are all 
within the range set by the pboc. furthermore, bochk has preferential staff rates for 
residential loans and mortgages taken out by its employees. 
the loans and credit facilities the bank provides to connected persons who are not 
employees of the bank are on normal commercial terms with reference to prevailing 
market rates. to the extent staff rates are available for certain loans and credit facilities, 
the loans and credit facilities the bank provides to connected persons who are the bank’s 
employees are provided at staff rates and are on normal commercial terms no more 
favorable than the staff rates applicable to other employees who are not connected 
persons. 
the provision of loans and credit facilities to connected persons in the ordinary and usual 
course of business and on normal commercial terms that are comparable or no more 
favorable than those offered to independent third parties (which include other comparable 
employees who are not connected persons) will be exempt continuing connected 
transactions under rule 14a.65(1) of the hong kong listing rules, namely .financial 
assistance provided by a listed issuer in its ordinary and usual course of business for the 
benefit of a connected person on normal commercial terms, and thus will be exempt from 
all reporting, announcement and independent shareholders' approval requirements 
contained in rules 14a.35 and 14a.45 to 14a.48 of the hong kong listing rules. 
continuing connected transactions between prudential corporation holdings 
limited & its subsidiaries and the bank 
prudential corporation holdings limited respectively owns 36% of boci-prudential 
187 
asset management limited (“boci-prudential”) and 36% of boci-prudential trustee 
limited (“bptl”), both of which are indirect subsidiaries of the bank. accordingly, 
prudential corporation holdings limited and its associate are connected persons to the 
bank for the purposes of the hong kong listing rules. in particular, boci-prudential 
and bptl, being associates of prudential corporation holdings limited, are also 
connected persons to the bank. 
in 2006, the bank engaged on a regular basis in a number of transactions with prudential 
corporation holdings limited and its associates in ordinary and usual course of business, 
such as fund distribution services, fund management services, fund investment advisory 
services, client referral services, it services, office rental and consumption services, 
deposit placing, insurance services and corporate management services. these 
transactions are on normal commercial terms and each percentage ratio (the profits ratio 
not applicable) set out in chapter 14a of the hong kong listing rules is less than 0.1% 
based on the transaction categories. according to rule 14a.33 (“de minimis 
transactions”) of the hong kong listing rules, these transactions are exempted from the 
reporting, announcement and independent shareholders’ approval requirements. 
corporate governance 
the bank endeavors to observe high level corporate governance principles and practices. 
for details of the bank’s compliance with the code on corporate governance practices 
contained in appendix 14 of the hong kong listing rules, please refer to the section on 
“corporate governance”. 
directors and supervisors 
the directors and supervisors of the bank as at 31 december 2006 are set out in the 
section “directors, supervisors, and senior management”. 
directors’ interests in competing business 
since august 1998, sir frederick anderson goodwin, a non-executive director of our 
bank, has been serving as a director of the rbs group which is the holding company of 
188 
one of the world’s largest banking and financial services groups. the business of rbs 
group may compete directly or indirectly with our bank. save as disclosed above, none 
of the directors is interested in any business which competes or is likely to compete, 
either directly or indirectly, with the business of the bank. 
emoluments of directors, supervisors and senior management 
details of the emoluments of directors, supervisors and senior management of the bank 
are set out in directors, supervisors, and senior management. 
directors’ and supervisors’ service contracts 
none of the directors or supervisors has a service contract with the bank or any of its 
subsidiaries which is not determinable by the employing company within one year 
without payment of compensation other than the normal statutory compensation. 
directors’ and supervisors’ interests in contract of 
significance 
no contracts of significance, in relation to the bank’s business to which the bank, its 
holding companies, or any of its subsidiaries or fellow subsidiaries was a party and in 
which a director or a supervisor had a material interest, whether directly or indirectly, 
subsisted at the end of the year or at any time during the year. 
directors’ and supervisors’ rights to acquire shares 
on 5 july 2002, the following directors were granted options by bochk (bvi), the 
immediate holding company of bochk holdings, pursuant to a pre-listing share 
option scheme to purchase from bochk (bvi) existing issued ordinary shares of 
bochk holdings at a price of hk$8.50 per share. bochk holdings is a subsidiary of 
the bank which is also listed on the hong kong stock exchange. these options have a 
vesting period of four years from 25 july 2002 with a valid exercise period of ten years. 
twenty-five percent of the shares subject to such options will vest at the end of each year. 
particulars of the outstanding options granted to the directors of the bank under the 
189 
pre-listing share option scheme as at 31 december 2006 are set out below: 
date of grant 
exercise 
price 
(hk$) 
exercisable 
period 
granted on 
5 july 2002 
balances as 
at 1 january 
2006 
balances as at 
31 december 
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 
during the report period, none of the above directors has exercised his options nor had there been any 
change in their option rights. 
save as disclosed above, at no time during the year was the bank, its holding companies, 
or any of its subsidiaries or fellow subsidiaries a party to any arrangements to enable the 
directors, 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 at 31 december 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 hong kong listing rules. 
substantial interests in share capital 
please refer to changes in share capital and shareholdings of substantial shareholders 
for details 
management contracts 
no contracts concerning the management or administration of the whole or any 
190 
substantial part of the business of the bank were entered into or existed during the year. 
share appreciation rights plan and share option scheme 
please refer to note 32 under section v. of the notes to the financial statements for 
details of the share appreciation rights plan and share option schemes of the group. 
please refer to the section “directors’ and supervisors’ rights to acquire shares” for 
details of the options granted by bochk (bvi) over shares of bochk holdings 
pursuant to the pre-listing share option scheme. 
purchase, sale or redemption of the bank’s shares 
the bank issued 8,514,415,652 ordinary shares to ncssf on 13 march 2006. 
the bank issued 25,568,590,000 h shares in the initial public offering and was listed on 
the hong kong stock exchange on 1 june 2006. 3,835,288,000 h shares were further 
issued pursuant to the exercise of over allotment option on 9 june 2006. 
the bank issued 6,493,506,000 a shares on 29 june 2006, and the bank was listed on the 
shanghai stock exchange on 5 july 2006. 
as at 31 december 2006, 50 million of the bank were held as treasury shares. 
pre-emptive rights 
there are no provisions for pre-emptive rights requiring the bank to offer new shares to 
existing shareholders in proportion to their existing shareholdings under the bank’s 
articles of association. the articles of association provides that if the bank wishes to 
increase its capital, it may offer new shares to non-specified investors, may issue rights of 
new shares to existing shareholders or allot new shares to existing shareholders, may 
transfer capital reserve fund, may issue convertible bonds, or through other means 
permitted by competent supervisory authorities or by laws and administrative regulations. 
there are no compulsory provisions for shareholders to exercise their pre-emptive rights 
191 
under the articles of association. 
use of proceeds from the ipo 
all proceeds from its ipo have been used to strengthen the capital base of the bank. 
tax deduction and exemption 
the bank’s salary expense deductible amount for domestic operations in 2006 approved 
by the ministry of finance and state administration of taxation is 15,669 million rmb, 
which is larger than the statutory deductibility limit. please refer to note 38 under 
section v to the financial statements. 
in january 2007, in light of the notice of relating taxation issues about the sponsor fee 
by bank of china limited to the games of the xxix olympiad by the ministry of 
finance and the state administration of taxation (cai shui[2006]163), the ministry of 
finance and the state administration of taxation have given support to the bank’s 
donation to the games of the xxix olympiad, which mainly includes deduction of the 
bank’s sponsor fee to the olympic games and the business tax exemption in regard to the 
services rendered to the beijing organizing committee for the games of the xxix 
olympiad. 
auditors 
please refer to “corporate governance” for details of external auditors. a resolution for 
the appointment of internal auditors will be proposed at the forthcoming annual general 
meeting. 
on behalf of the board 
xiao gang 
chairman 
22 march 2007 
192 
report to be delivered by the board of supervisors of bank of china at 
the 2007 general meeting of shareholders 
dear shareholders: 
as stipulated in the company law of the people's republic of china (company law) and 
the articles of association of bank of china limited, we hereby submit a report on the 
duty performance of the board of supervisors of bank of china (“the bank”) to the 
general meeting of shareholders for review. 
i. meetings of the board of supervisors 
the board of supervisors held six meetings in 2006: 
(1) the first meeting (on february 23) was held by written circulation, examining and 
approving the performance evaluation measures for full-time supervisors appointed by 
shareholders of bank of china, for submission to the general meeting of shareholders 
for review. 
(2) the second meeting (on march 27) examined and approved the 2005 financial 
report of bank of china limited. 
(3) the third meeting (on april 12) examined and approved the report delivered by the 
board of supervisors at the 2006 general meeting of shareholders, for submission to the 
general meeting of shareholders for review; the meeting also examined and approved 
the 2005 performance evaluation result of full-time supervisors appointed by 
shareholders, for submission to the general meeting of shareholders for review 
(4) the fourth meeting (on april 29) examined and approved the opinions on the profit 
distribution plan of bank of china to be submitted to the 2006 general meeting of 
shareholders (resumed session), for submission to the general meeting of shareholders. 
(5) the fifth meeting (on august 29) examined and approved the 2006 interim report of 
bank of china. 
(6) the sixth meeting (on october 31) examined and approved the 2006 third quarter 
report of bank of china. 

193 
ii. supervision and inspection work of the board of supervisors 
pursuant to the company law and the articles of association of the bank, the board of 
supervisors diligently discharged its responsibilities by supervising the board of 
directors and senior management, with focus on financial supervision and compliance 
supervision. 
employees of the office of the board of supervisors, headed by each supervisor, 
exercised supervision and inspection in the head office by means of participating in 
meetings, having access to documents, conducting inquiry and interviews, during the 
report period. they conducted on-site inspection on financial and other activities of 
seven departments, including the accounting department, risk management department, 
credit administration department, and bank card center. the board of supervisors also 
assigned staff familiar with the business operation of the bank to conduct on-site 
inspection of 16 domestic tier-1 branches and one wholly-owned subsidiary of the bank, 
spending 11 days on average for each entity. the inspections covered the completeness 
and truthfulness of financial reports, truthfulness of the credit quality, compliance of 
governing measures over provisions for loans and asset disposal and punishment of 
persons held liable, treasury business risk management, and circumstances relating to 
certain connected transactions. 
during the report period, the board of supervisors also conducted an “online survey and 
research” among employees by the bank’s internal e-mail system. the survey covered 
the bank’s reform, development, management, lending business, finance and accounting 
affairs, etc. the board of supervisors received a lot of valuable information in the survey, 
and summarized the content of the survey into a document with more than 40,000 words, 
which has been delivered to all directors and senior managers for their reference. 
iii. independent opinions of the board of supervisors on relevant issues of the 
bank within the report period 
(1) operations according to the law 
it was found that, during the report period, the bank’s board of directors and senior 
194 
management did not violate the law, regulation or the bank’s articles of association, nor 
did they infringe upon the bank’s interests. the bank's internal control system was 
further strengthened and improved during the report period. 
(2) financial position 
the financial statements contained in the annual report truly and fairly reflect the bank’s 
financial position and business performance in the report period. 
(3) use of the capital raised 
during the report period, the bank raised usd11.2 billion and rmb20 billion in 
domestic and overseas capital market. the use of these funds is consistent with the 
bank’s undertaking in the prospectus. 
(4) purchase and sale of assets 
it was found that there was no purchase or sale of assets of the bank that might infringe 
upon the interests of shareholders or cause asset dissipation in the report period. 
(5) affiliated transactions 
it was found that no unfair connected transactions that might infringe upon the bank’s 
interests occurred in the report period. 
(6) the issue of annual profit largely beyond the forecast 
the board of supervisors agrees to the reasons given by the board of directors in 
relation to the fact that profits recorded by the bank in the report period exceeded its 
forecast by a substantial margin. 

195 
significant events 
listing of h-share and a-share 
the h-share of the bank was listed on 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 2006, 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 bank conducted a public offer of its a-share in the domestic market from 19 to 23 
june 2006. these shares were issued at rmb 3.08 per share and commenced trading on 
the shanghai stock exchange on 5 july 2006. 6,493,506,000 a-share were offered, 
representing 2.56% of the fully diluted share capital. a total of rmb 20 billion was 
raised. 
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. 
purchase and sale, acquisition of asset 
on 15 december 2006, the bank completed its first post ipo overseas acquisition with 
the purchase of singapore aircraft leasing enterprise (sale) for usd 965 million after 
several rounds of international competitive biddings. 
the selling shareholders are singapore airlines limited (56.67%8 held by temasek 
holdings (private) limited.) (35.5%), westlb ag (35.5%), apfarge investment pte. ltd. 
(an investment vehicle of singapore government’s special investments pte. ltd.) (14.5%), 
8 as of 30 may 2006, the share volume held by temasek holdings (private) limited. in singapore airlines limited 
196 
and seletar investments pte. ltd. (a wholly-owned subsidiary of temasek holdings 
(private) limited) (14.5%). 
on 31 december 2005, temasek holdings (private) limited indirectly held 5% shares of 
the bank via its wholly owned subsidiary, afh. its shareholding proportion declined to 
4.805% after the ncssf completed its investment in the bank on 13 march 2006. 
according to the register maintained by the bank pursuant to section 336 of the sfo, the 
shares held by temasek in the bank accounted for 4.65% of the bank’s total issued share 
capital on 31 december 2006. according to the opinions of the bank’s domestic and 
overseas legal advisors, the transaction did not constitute a connected transaction of the 
bank. 
sale has been profitable since its establishment in 1993. after-tax profit reached usd 
4.7 million, usd5.2 million and usd34.7 million respectively in 2004-2006. it is a 
leading asia-based aircraft leasing company, with a fleet of modern airbus and boeing 
aircraft with almost 27 airlines in 20 countries worldwide. the acquisition price 
represents 1.8 times of sale’s book value in september 2006, determined after taking 
into account its competitive aircraft order and purchase price and its management teams 
and international platform being well recognized by the market. 
following the acquisition, sale became the 205th overseas unit of the group and the 
first chinese-owned international aircraft leasing company. the acquisition provides the 
bank with a well-established platform to expand into the global leasing business. 
major contracts and the performance thereof 
during the report period and except as disclosed, the bank did not take custody of or 
sub-contract the operation or lease any material business assets from third parties or 
allowed its material business assets being subject to such arrangements. no material cash 
assets of the bank were entrusted to others for management. 
derives from the 05/06 annual report of singapore airlines limited. 
197 
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 adopt credit risk 
management approach. 
during the report period, the bank or (to the bank’s best knowledge) shareholders 
holding 5% or more shares in the bank have not made undertakings that might have 
significant adverse impact on the operational results and financial position of the bank. 
significant related party transactions 
please refer to section vii of the notes to financial statement for related party 
transactions during the report period. 
internal control 
please refer to management discussion and analysis for details. 
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. 
the bank has been involved in certain litigation and arbitration cases in the ordinary 
course of business. after consulting professional legal firms, the management considers 
that these litigation and arbitration cases will not have significant adverse impacts on the 
operation of the bank. 
progress of legal cases 
in the year of 2006, the bank investigated and dealt with 30 cases related to lawbreaking 
and regulation violation, representing a decrease of 42.31% compared to 52 cases in the 
previous year, involving rmb 806 million , a year-on-year decrease of 25.37%. the 
bank recovered rmb 391 million accounting for 48.60% of the total amount involved 
with rmb 415 million remaining at risk. 

198 
the bank strictly implements the accountability system with regard to lawbreaking or 
regulation violation cases. should any such case happens, not only persons directly 
responsible will be held liable, but also persons indirectly involved, such as supervisors at 
the relevant business unit, and management of the business line at one or even two levels 
higher as well as the major leaders of the relevant entity, will be called to account. the 
person in charge of the business unit that was involved in a case exceeding rmb one 
million will be held accountable and be allowed to resign or be removed from such 
position. the occurrence of such case will be taken into account with an increased 
negative score in the performance evaluation of the entity. in 2006, altogether 10,413 
persons have been held accountable for lawbreaking, regulation and discipline violation, 
of which 97 directors of tier-two branches or sub-branches have been removed from their 
position or summarily dismissed, and 119 leaders involved and 114 persons indirectly 
involved were also held accountable. 
combination of enterprise income tax and income tax on 
foreign invested enterprises and foreign enterprises 
on 16 march 2007, the national people’s congress enacted the new prc enterprise 
income tax law. the enterprise income tax rate the bank applied to will decline from 
33% to 25% taking effect from 2008. the bank will benefit from the reduction of tax rate 
prospectively from 2008. meanwhile, the bank will adjust the deferred income taxes 
according to the new tax rate. for detailed information please refer to note 1 under 
section vii to financial statements. 
penalty imposed on directors, supervisors and senior 
managers 
during the report period, none of the directors, supervisors or any member of senior 
management was subject to any investigation or administrative punishment from the 
csrc, nor were they be in the subject of public reprimand from any stock exchange. 
199 
validation opinion of the board of directors and 
the senior management of boc on the 2006 annual report 
in accordance with relevant provisions in the securities law of people’s republic 
china and the standards on the contents and formats of information disclosure by 
companies offering securities to the public (no.2) --- contents and formats of annual 
report (revision 2005), we, as directors and senior management of boc, issued the 
following opinions on the basis of full understanding and review of the 2006 annual 
report. 
i.the company operates in accordance with the accounting standards for business 
enterprises, the accounting systems for enterprises and the accounting systems for 
financial enterprises. the 2006 annual report fairly presents the financial position and 
operating results of the company as of december 31, 2006. 
ii.we are of the view that the information in this report contains no false records, 
misleading statements or major omissions. we warrant individual and joint and several 
responsibilities for the truthfulness, accuracy and completeness of the contents of the 
report. 
board of directors of bank of china limited 
22 march 2007 

200 
signatures of directors and senior managers： 
name position signature name position signatur 
e name position signature 
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; 
executive vice 
president 
li zaohang 
executive 
director; 
executive 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 
zhou 
zaiqun 
executive vice 
president zhang 
yanling 
executive vice 
president 
zhang 
lin 
secretary of 
party discipline 
committee 
zhu min executive vice 
president 
wang 
yongli 
executive vice 
president 
yeung 
jason chi 
wai 
board secretary 

201 
documents available for inspection 
i. accounting statements with the seals of the bank’s chairman, president, 
executive vice president in charge of accounting function and the 
person in charge of accounting. 
ii. original of auditor’s report with the seal of the accounting firm and the 
signature and seal of a certified public accountant. 
iii. original of annual report with seal of the bank’s chairman. 
iv. originals of all documents and announcements published by the bank 
on the financial news, china securities news, and shanghai securities 
news during the report period. 
v. the articles of association of bank of china limited. 

202 
reference for shareholders 
financial calendar for 2007 
announcement of 2006 annual results 23 march 2007 
annual report of 2006 to be delivered to h share shareholders in late 
april 2007 
annual general meeting of 2006 to be held on 14 june2007 
announcement of 2007 interim results to be announced not later than 31 august 2007 
annual general meeting 
annual general meeting of 2006 will be held at 3:00 p.m. on thursday, 14 june 2007 at 
central garden hotel, no. 18 gaoliangqiaoxiejie, xizhimenwai ave., hai dian district, 
beijing, china. 
dividend 
the board was recommended a final dividend f rmb 0.04 per share, subject to the 
approval of shareholders at the annual general meeting of 2006 respectively. 
share information 
listing 
the bank’s ordinary shares were listed on the hong kong stock exchange and shanghai 
stock exchange on 1 june 2006 and 5 july 2006. 
ordinary shares 
issued shares: 253,839,162,009 shares 
market value 
as of the last trading day in 2006 (29 december 2006), the bank’s market value was 
rmb1,291.7 billion (equivalent to hkd1,285.6 billion) 
share price 
closing price of h shares on 29 december 2006: hkd4.27 
closing price of a shares on 29 december 2006: rmb5.43 
203 
highest price of h shares in 2006: hkd4.28 
lowest price of h shares in 2006: hkd2.95 
highest price of a shares in 2006: rmb5.43 
lowest price of a shares in 2006: rmb3.08 
stock codes 
stock name: bank of china 
h shares: 
stock exchange of hong kong 3988 
reuters 3988.hk 
bloomberg 3988 hk 
a shares: 
shanghai stock exchange 601988 
reuters 601988.ss 
bloomberg 601988 ch 
shareholder inquiry 
if a shareholder intends to inquire matters such as share transfer, changes of name or 
address, loss of shares and other information concerning the shares held, he/she may 
write to the bank at the following address: 
h shares: 
computershare hong kong investor services limited 
rooms 1806-1807, 18/f, hopewell center, 183 queen’s road east, wan chai, hong 
kong 
telephone: (852) 2862 8555 
fax: (852) 2865 0990/(852) 2529 6087 
e-mail: hkinfo@computershare.com.hk 
a shares: 
shanghai branch of china securities depository and clearing corporation limited 
3/f, china insurance building 
166 east lujiazui road, pudong new area, shanghai 
204 
telephone: 021-38874800 
credit ratings (long term) 
fitch ratings: a– 
moody’s investors services: a2 
rating and investment information, inc.: a 
standard & poor’s: bbb+ 
dagong global credit rating co., ltd.: aaa 
index constituent 
hang seng index (with effect from 4 december 2006) 
hang seng china h-financial index (launched on 27 november 2006) 
hang seng china enterprises index 
hang seng composite index(hsci) series 
hang seng freefloat index (hsfi) series 
msci china index series 
shanghai stock exchange index series 
ftse/xinhua china 25 index 
ftse/xinhua hong kong index 
ftse index series 
investor inquiry 
for h-share investors, please contact: 
investor relation team (hong kong) of bank of china limited 
52/f, bank of china tower, 1 garden road, hong kong 
telephone: (852) 2826 6469 
fax: (852) 2865 0990/(852) 2529 6087 
e-mail: bocir@bank-of-china.com 
for a-share investors, please contact: 
investor relation team (beijing) of bank of china limited 
205 
9/f, bank of china building, 1 fuxingmen nei dajie, beijing, china 
telephone: (8610) 66594626 
fax: (8610) 66594579 
e-mail: bocir@bank-of-china.com 
other information 
you may obtain a copy of the annual report prepared in accordance with the international 
financial reporting standards by writing to the bank’s h-share registrar (address: 
rooms 1806-1807, 18/f, hopewell center, 183 queen’s road east, wan chai, hong 
kong), and the annual report prepared in accordance with prc gaap by writing to the 
bank’s business place. the english and chinese versions of the 2006 annual report are 
also available on the following websites: www.boc.cn, www.sse.com.cn, and 
www.hkex.com.hk. 
if you have any queries about how to obtain copies of the annual report or how to access 
the document on the bank’s websites, please call the bank’s hotlines at (852) 2862 8633 
or 8610-66596688. 
206 
organizational chart 
the organizational chart 1 of the group as at 31 december 2006 is as follows: 
notes: 
1.prepared based on the interests recorded in the register maintained pursuant to section 336 of the securities and futures 
ordinance of the laws of hong kong. 
2 ubs also holds 1,084,612,402 shares of short position, accounting for 0.43% of the bank’s total issued share capital. 
3. incorporated in the prc. 
4. listed on the hong kong stock exchange. 
100％ 
bank of china limited 
asian 
development 
bank 
ubs ag2 central safe 
investments 
limited 
rbs china asia financial 
holding pte.ltd 
domestic operations：head office,37 
tier-one branches and 10,560 tier-two branches, 
sub-branches and outlets(see “list of branches and 
subsidiaries) 
hong kong and macau 
operations 
other overseas operations: branches, 
subsidiaries and representative offices spread in 25 overseas 
countries (see “list of branches and subsidiaries) 
macau branch 
tai fung bank 
limited 
boc hong kong 
(group) limited 
bocg 
investment 
limited 
bocg insurance company 
limited 
boc international 
holdings limited 
boc hong 
kong（bvi） 
limited 
boc hong kong 
(holdings) 
limited 4 
boc hk 
bocg insurance 
company limited 3 
0.20％ 1.81％ 67.49％ 8.25％ 4.64％ 
50.31％ 100％ 100％ 100％ 100％ 
100％ 
65.7712％ 
100％ 
0.0539％ 
0.0435％ 
national council for 
social security fund 
4.46％ 
other public 
shareholders 
13.15％ 
singapore aircraft leasing 
enterprise pte.ltd.. 
100％ 
boc life assurance 
company limited 
51％ 
49％
207 
branches, sub-branches and subsidiaries authorised to 
handle international business 
head office 
1 fuxingmen nei dajie, 
beijing 100818, china 
swift: bkch cn bj 
tlx: 22254 bcho cn 
tel: (86) 010-66596688 
fax: (86) 010-66593777 
post code: 100818 
website: www.boc.cn 
anhui 
province 
anhui branch 
313 mid-changjiang 
road, 
hefei 230061, anhui 
prov., china 
swift: bkch cn bj 780 
tel: (86) 0551-2926114 
fax: (86) 0551-2926993 
post code: 230061 
wuhu branch 
258 jiu hua shan road, 
wuhu 
241000, anhui prov., 
china 
swift: bkch cn bj 79a 
tlx: 91120 whboc cn 
tel: (86) 0553-3830735 
fax: (86) 0553-3823492 
post code: 241000 
maanshan branch 
international 
finance 
building, 1 huayu 
road, 
ma_anshan 243011, 
anhui prov., china 
tel: (86) 0555-2345674 
fax: (86) 0555-2345674 
post code: 243011 
beijing city 
beijing branch 
8 yabao lu, chaoyang 
district, 
beijing 100020, china 
swift: bkch cn bj 110 
tel: (86) 010-65199988 
fax: (86) 010-65199572 
010-65199586 
post code: 100020 
boc 
international 
holdings limited 
beijing 
representative 
office 
15/f., tower2, yingtai 
business center, no.28, 
finance street, 
xicheng district 
beijing 100032, china 
tel: (86) 010-66229000 
fax: (86) 010-66578950 
post code: 100032 
website: www.bocigroup.com 
email: bj@bocigroup.com 
boc group life 
assurance 
co., ltd. beijing 
representative 
office 
8/f., boc bldg., 1 
fuxingmen nei 
dajie, beijing 100818, 
china 
tel: (86) 010-66533316 
fax: (86) 010-66080048 
post code: 100818 
email: bjxianghong@263.net 
bank of china 
insurance co., ltd. 
12/f., boc bldg., 1 
fuxingmen nei dajie, 
xicheng district, 
beijing 100818, china 
tel: (86) 010-66596288 
fax: (86) 010-66596301 
post code: 100818 
website: www.bocins.com 
chongqing 
city 
chongqing 
branch 
218 zhong shan 1 road, 
yu zhong district, 
chongqing 400013, 
china 
swift: bkch cn bj 59a 
tel: (86) 023-63889471 
023-63889461 
fax: (86) 023-63889585 
post code: 400013 

208 
fujian 
province 
fujian branch 
boc bldg., 136 wusi 
road, 
fuzhou 350003, 
fujian prov., china 
swift: bkch cn bj 720 
tlx: 92109 bocfj cn 
tel: (86) 0591-87848741 
0591-87849504 
fax: (86) 0591-87804522 
post code: 350003 
xiamen branch 
boc bldg., 40 north 
hubin road, 
xiamen 361012, 
fujian prov., china 
swift: bkch cn bj 73a 
tlx: 923012 xmboc cn 
tel: (86) 0592-5066415 
fax: (86) 0592-5066443 
post code: 361012 
fuzhoushi 
shizhong 
sub-branch 
27 gutian road, gulou 
district, fuzhou 350005, 
fujian prov., china 
swift: bkch cn bj 73e 
tel: (86) 0591-83321310 
0591-83318034 
fax: (86) 0591-83321700 
post code: 350005 
fuqing 
sub-branch 
shengtian square， 
qingchang road, 
fuqing 350300, fujian 
prov., china 
swift: bkch cn bj 73l 
tlx: 924006 bocfq cn 
tel: (86) 0591-85169031 
0591-85239999 
fax: (86) 0591-85226149 
post code: 350300 
putian branch 
933 wenxian road, 
cheng xiang district, 
putian 351100, fujian 
prov., china 
swift: bkch cn bj 73c 
tlx: 925003 cbkpt cn 
tel: (86) 0594-2698904 
0594-2695974 
fax: (86) 0594-2690761 
post code: 351100 
quanzhou branch 
boc bldg. fengze jie, 
quanzhou 362000, 
fujian prov., china 
swift: bkch cn bj 73b 
tel: (86) 0595-21152162 
fax: (86) 0595-22110636 
post code: 362000 
zhangzhou 
branch 
2 south yuan guang 
road, 
xiang cheng district, 
zhang zhou 363000, 
fujian prov., china 
swift: bkch cn bj 73d 
tel: (86) 0596-2972809 
fax: (86) 0596-2972867 
post code: 363000 
gansu 
province 
gansu branch 
525 tianshui south 
road, 
lanzhou 730000, 
gansu prov., china 
swift: bkch cn bj 660 
tel: (86) 0931-8410884 
fax: (86) 0931-8410884 
post code: 730000 
guangdong 
province 
guangdong 
branch 
197 dongfeng xi lu, 
guangzhou 510180, 
guangdong prov., 
china 
swift: bkch cn bj 400 
tlx: 441042 gzboc cn 
tel: (86) 020-83338080 
fax: (86) 020-83344066 
post code: 510180 
guangzhouzhujiang 
sub-branch 
development center, 
linjiang dadao, 
3,guangzhou, 
guangdong prov., 
china 
tel: (86) 020-83340998 
fax: (86) 020-37851023 
post code: 510623 
zhuhai branch 
1148 yuehai east road, 
gongbei, zhuhai 519020, 
guangdong prov., 
china 
swift: bkch cn bj 45p 
tlx: 456228 zuboc cn 
tel: (86) 0756-8883333 
fax: (86) 0756-8883366 
post code: 519020 
shantou branch 
98 jin sha road, 
shantou 515041, 
guangdong prov., 
china 
swift: bkch cn bj 4la 
tel: (86) 0754-8262955 
fax: (86) 0754-8262843 
post code: 515041 
209 
chaozhou branch 
bank of china bldg., 
crossing of chaozhou 
road, 
chaozhou 521011, 
guangdong prov., 
china 
swift: bkch cn bj 41p 
tlx: 450020 czboc cn 
tel: (86) 0768-2863008 
fax: (86) 0768-2863022 
post code: 521011 
dongguan branch 
72 guantai road, 
dongguan 523072, 
guangdong prov., 
china 
tel: (86) 0769-22819888 
fax: (86) 0769-22818181 
post code: 523072 
foshan branch 
2 ren min xi road, 
chan cheng district, 
foshan, guangdong 
prov., china 
swift: bkch cn bj 44a 
tlx: 425011 fsboc cn 
tel: (86) 0757-82683367 
fax: (86) 0757-82221638 
post code: 528000 
guangzhou k. f. q. 
branch 
2 qingnian road, 
guangzhou 510730, 
guangdong prov., 
china 
swift: bkch cn bj 42g 
tlx: 440802 gdzxg cn 
tel: (86) 020-82215911 
fax: (86) 020-82212766 
post code: 510730 
huizhou branch 
22 mai di road, 
huizhou 516001, 
guangdong prov., 
china 
swift: bkch cn bj 47a 
tel: (86) 0752-2289988 
fax: (86) 0752-2289525 
post code: 516001 
jiangmen branch 
22 gangkou road, 
jiangmen 
529051, guangdong 
prov., china 
swift: bkch cn bj 44k 
tel: (86) 0750-3163160 
fax: (86) 0750-3163166 
post code: 529051 
maoming branch 
13 youcheng 5 lu, 
maoming 525000, 
guangdong prov., 
china 
swift: bkch cn bj 42p 
tel: (86) 0668-2889134 
fax: (86) 0668-2285300 
post code: 525000 
meizhou branch 
53 meijiang 1 road, 
meizhou 514021, 
guangdong prov., 
china 
swift: bkch cn bj 47k 
tel: (86) 0753-2189333 
fax: (86) 0753-2189359 
post code: 514021 
shaoguan branch 
zhongyin building, 
160 jiefang road, 
shaoguan 512000, 
guangdong prov., 
china 
swift: bkch cn bj 46p 
tel: (86) 0751-8186948 
fax: (86) 0751-8883976 
post code: 512000 
yangjiang branch 
29 dongfeng 1 lu, 
yangjiang, 
guangdong prov., 
china 
swift: bkch cn bj 42w 
tel：(86) 0662-3216110 
fax：(86) 0662-3227743 
post code: 529500 
zhanjiang branch 
50 renmin dadao 
zhong, 
zhanjiang 524022, 
guangdong prov., 
china 
swift: bkch cn bj 43p 
tel: (86) 0759-3189813 
fax: (86) 0759-3189888 
post code: 524022 
zhaoqing branch 
3 duan zhou 6 road, 
zhaoqing 526020, 
guangdong prov., 
china 
swift: bkch cn bj 43a 
tel: (86) 0758-2813336 
fax: (86) 0758-2834311 
post code: 526020 
zhongshan 
branch 
18 zhong shan 3rd 
road, 
zhongshan 528400, 
guangdong prov., 
china 
swift: bkch cn bj 44t 
tel: (86) 0760-8336688 
fax: (86) 0760-8337788 
post code: 528400 
heshan 
sub-branch 
228 xin cheng road, 
shaping town, heshan 
529700, 
guangdong prov., 
china 
swift: bkch cn bj 44n 
tel: (86) 0750-8993388 
fax: (86) 0750-8988411 
post code: 529700 
kaiping 
sub-branch 
1 zhong yin road, 
kaiping 529300, 
210 
guangdong prov., 
china 
swift: bkch cn bj 44p 
tel: (86) 0750-2322222 
fax: (86) 0750-2311111 
post code: 529300 
nanhai 
sub-branch 
31 the middle of 
nanhai dadao, 
guicheng, nanhai 
district, foshan, 
guangdong 
prov., china 
swift: bkch cn bj 44e 
tel: (86) 0757-86285268 
fax: (86) 0757-86285265 
post code: 528200 
sanshui subbranch 
4 wen feng zhong 
road, 
xinan, sanshui 
district, 
foshan, guangdong 
prov., china 
swift: bkch cn bj 44c 
tel: (86) 0757-87735286 
fax: (86) 0757-87732139 
post code: 528100 
shunde 
sub-branch 
2 feng shan xi road, 
daliang jiedao, 
shunde district, 
foshan, guangdong 
prov., china 
swift: bkch cn bj 44b 
tel: (86) 0757-22389881 
fax: (86) 0757-22389880 
post code: 528300 
taishan 
sub-branch 
46 qiao hu lu, 
taicheng town, 
taishan 529200, 
guangdong prov., 
china 
swift: bkch cn bj 44m 
tel: (86) 0750-5551601 
fax: (86) 0750-5526820 
post code: 529200 
xinhui sub-branch 
7 zhuzi road, 
huicheng town, 
xinhui 529100, 
guangdong 
prov., china 
swift: bkch cn bj 44l 
tel: (86) 0750-6622073 
fax: (86) 0750-666602l 
post code: 529100 
guangxi 
zhuang* 
guangxi zhuang* 
branch 
39 gucheng road, 
nanning 
530022,guangxi 
zhuang*, china 
swift: bkch cn bj 480 
tlx: 48122 bocgx cn 
tel: (86) 0771-2879607 
fax: (86) 0771-2811267 
post code: 530022 
beihai branch 
international 
financial 
building, beihai 
street, 
beihai 536000,guangxi 
zhuang*, 
china 
swift: bkch cn bj 49b 
tel: (86) 
0779-3061133-206\207 
fax: (86) 0779-3034431 
post code: 536000 
fangchenggang 
branch 
38 fu yu street, 
fangcheng gang 
538001, 
guangxi zhuang*, 
china 
swift: bkch cn bj 49h 
tel: (86) 0770-2802318 
fax: (86) 0770-2831115 
post code: 538001 
guilin branch 
2 zhongshan zhong 
road, 
guilin 541001, guangxi 
zhuang*, china 
swift: bkch cn bj 49c 
tel: (86) 0773-2581918 
fax: (86) 0773-2582020 
post code: 541002 
liuzhou branch 
178 ping shan avenue, 
liuzhou 545005, 
guangxi zhuang*, 
china 
swift: bkch cn bj 49d 
tel: (86) 0772-3881862 
fax: (86) 0772-3881999 
post code: 545005 
wuzhou branch 
1 xinxing 1 road, 
wuzhou 543002, 
guangxi zhuang*, 
china 
swift: bkch cn bj 49a 
tlx: 48680 wzboc cn 
tel: (86) 0774-2812531 
fax: (86) 0774-3829800 
post code: 543002 
yulin branch 
248 yi huan dong 
road, 
yulin 537000,guangxi 
zhuang*, china 
swift: bkch cn bj 49g 
tel: (86) 0775-2650928 
fax: (86) 0775-2825524 
post code: 537000 

211 
guizhou 
province 
guizhou branch 
30 dusi road, guiyang, 
guizhou prov., china 
swift: bkch cn bj 240 
tel: (86) 0851-5815261 
fax: (86) 0851-5825746 
post code: 550002 
hainan 
province 
hainan branch 
33 datong road, 
haikou 570102, 
hainan prov., china 
swift: bkch cn bj 740 
tlx: 490172 haboc cn 
tel: (86) 0898-66778001 
fax: (86) 0898-66562040 
post code: 570102 
sanya branch 
035 jiefang 4 road, 
sanya 
572000,hainan prov., 
china 
swift: bkch cn bj 75a 
tel: (86) 0898-88676001 
fax: (86) 0898-88676003 
post code: 572000 
hebei 
province 
hebei branch 
80 xinhua road, 
shijiazhuang 050000, 
hebei prov., china 
swift: bkch cn bj 220 
tel: (86) 0311-87866681 
fax: (86) 0311-87866692 
post code: 050000 
qinhuangdao 
branch 
157 yingbin road, 
qinhuangdao 066001, 
hebei prov., china 
swift: bkch cn bj 23a 
tel: (86) 0335-3619050 
fax: (86) 0335-3068179 
post code: 066001 
tangshan branch 
67 xinhua xidao, 
tangshan 063004, 
hebei prov., china 
swift: bkch cn bj 23h 
tel: (86) 0315-2221569 
fax: (86) 0315-2221569 
post code: 063004 
heilongjiang 
province 
heilongjiang 
branch 
19 hongjun street, 
harbin 150001, 
heilongjiang prov., 
china 
swift: bkch cn bj 860 
tlx: 87009 bchb cn 
tel: (86) 0451-53626785 
fax: (86) 0451-53624147 
post code: 150001 
zhaolin subbranch 
no.37 zhaolin street, 
daoli district, harbin 
150010, 
heilongjiang prov., 
china 
swift: bkch cn bj 87a 
tel: (86) 0451-84648124 
fax: (86) 0451-84610769 
post code: 150010 
daqing branch 
6 wan bao street, sa 
er tu dong feng 
xin cun, daqing, 
heilongjiang prov., 
china 
swift: bkch cn bj 87d 
tel: (86) 0459-638568l 
fax: (86) 0459-6385679 
post code: 163311 
heihe branch 
149 xing_lin street, 
heihe 164300, 
heilongjiang prov., 
china 
swift: bkch cn bj 87f 
tel: (86) 0456-8277693 
fax: (86) 0456-8222093 
post code: 164300 
jiamusi branch 
57 zhongshan street, 
jiamusi 154002, 
heilongjiang prov., 
china 
swift: bkch cn bj 87b 
tel: (86) 0454-8628208 
fax: (86) 0454-8628208 
post code: 154002 
mudanjiang 
branch 
9 taiping road, 
mudanjiang 157000, 
heilongjiang prov., 
china 
swift: bkch cn bj 87e 
tel: (86) 0453-6678036 
0453-6678035 
fax: (86) 0453-6678032 
post code: 157000 
qiqihar branch 
6 bukui south street, 
212 
longsha district, 
qiqihar 161000, 
heilongjiang prov., 
china 
swift: bkch cn bj 87c 
tel: (86) 0452-2408041 
fax: (86) 0452-2408041 
post code: 161000 
henan 
province 
henan branch 
40 hua yuan road, 
zhengzhou 450008, 
henan prov., china 
swift: bkch cn bj 530 
tel: (86) 0371-65779966 
fax: (86) 0371-65779878 
post code: 450008 
hubei 
province 
hubei branch 
65 huangshi road, 
wuhan 
430013, hubei prov., 
china 
swift: bkch cn bj 600 
tel: (86) 027-82813723 
027-82811707 
fax: (86) 027-82838479 
post code: 430013 
hankou 
sub-branch 
593 zhongshan 
avenue, 
wuhan 430021, 
hubei prov., china 
swift: bkch cn bj 61a 
tel: (86) 027-82834891 
fax: (86) 027-82815221 
post code: 430021 
hunan 
province 
hunan branch 
593 furong road(m), 
changsha 410011, 
hunan prov., china 
swift: bkch cn bj 970 
tel: (86) 0731-2580703 
fax: (86) 0731-2580707 
post code: 410011 
xiangtan branch 
249 jianshe north 
road, 
xiangtan 411100, 
hunan prov., china 
swift: bkch cn bj 98d 
tel: (86) 0732-8222758 
fax: (86) 0732-8227476 
post code: 411100 
zhuzhou branch 
23 tiantai road, 
zhuzhou 
412007, hunan prov., 
china 
swift: bkch cn bj 98c 
tel: (86) 0733-8817047 
fax: (86) 0733-8817003 
post code: 412007 
inner 
mongolia* 
inner mongolia 
branch 
12 xinhua dajie, xin 
cheng district 
huhhot 010010, 
inner mongolia*, 
china 
swift: bkch cn bj 880 
tel: (86) 0471-4690024 
fax: (86) 0471-4690039 
post code: 010010 
baotou branch 
no.28, gangtie dajie, 
qingshan qu, baotou 
014030, 
inner mongolia*, 
china 
swift: bkch cn bj 89a 
tel: (86) 0472-6965000 
fax: (86) 0472-6965000 
post code: 014030 
erdos city branch 
29 yijinhuoluoxi 
street, dongsheng 
district, erdos 017000, 
inner mongolia*, 
china 
tel: (86) 0477-8369680 
fax: (86) 0477-8369980 
post code: 017000 
hulunbeir city 
branch 
16 alihe road, 
hulunbeir city 021008, 
inner mongolia*, 
china 
tel: (86) 0470-8291688 
fax: (86) 0470-8291688 
post code: 021008 
manzhouli 
branch 
28 san dao jie, 
manzhouli, 
inner mongolia*, 
china 
tel: (86) 0470-6237306 
fax: (86) 0470-6237306 
post code: 021400 

213 
jiangsu 
province 
jiangsu branch 
148 zhong shan nan 
lu, 
nanjing 210005, 
jiangsu prov., china 
swift: bkch cn bj 940 
tlx: 34116 bocjs cn 
tel: (86) 025-84207888 
fax: (86) 025-84208843 
post code: 210005 
changzhou 
branch 
150 heping south road, 
changzhou, 213003, 
jiangsu prov., china 
swift: bkch cn bj 95e 
tel: (86) 0519-8122988 
fax: (86) 0519-8119666 
post code: 213003 
lianyungang 
branch 
1 middle hailian 
road, 
xin pu district, 
lianyungang 222002, 
jiangsu prov., china 
swift: bkch cn bj 95a 
tel: (86) 0518-5319920 
0518-5319921 
fax: (86) 0518-5319869 
0518-5411983 
post code: 222002 
nantong branch 
19 qing nian xi road, 
nantong 226006, 
jiangsu prov., china 
swift: bkch cn bj 95g 
tel: (86) 0513-83516888 
fax: (86) 0513-83518921 
post code: 226006 
suzhou branch 
188 ganjiang xi road, 
suzhou 215002, 
jiangsu prov., china 
swift: bkch cn bj 95b 
tel: (86) 0512-65112719 
fax: (86) 0512-65114906 
post code: 215002 
wuxi branch 
258 zhong shan road, 
wuxi 214002, 
jiangsu prov., china 
swift: bkch cn bj 95c 
tel: (86) 0510-82705888 
fax: (86)0510-82751687 
0510-82705888-1000 
post code: 214002 
yangzhou branch 
541 wen chang middle 
road, 
yangzhou 225002, 
jiangsu prov., china 
swift: bkch cn bj 95h 
tel: (86) 0514-7361078 
fax: (86) 0514-7361010 
post code: 225002 
zhenjiang branch 
235 east zhongshan 
road, zhenjiang 
212001, 
jiangsu prov., china 
swift: bkch cn bj 95d 
tel: (86) 0511-5020712 
fax: (86) 0511-5027934 
post code: 212001 
zhangjiagang 
sub-branch 
111 ren min road(m), 
zhangjiagang 215600, 
jiangsu prov., china 
swift: bkch cn bj 95l 
tel: (86) 0512-58685888 
fax: (86) 0512-58684349 
post code: 215600 
jiangxi 
province 
jiangxi branch 
1 zhanqian west road, 
nanchang 330002, 
jiangxi prov., china 
swift: bkch cn bj 550 
tlx: 95013 bocnc cn 
tel: (86) 0791-6471503 
fax: (86) 0791-6471505 
post code: 330002 
jingdezhen 
branch 
1053 ci du avenue, 
jingdezhen 333000, 
jiangxi prov., china 
swift: bkch cn bj 56a 
tel: (86) 0798-8570628 
fax: (86) 0798-8570625 
post code: 333000 
jilin 
province 
jilin branch 
699 xi an da lu, chang 
chun 
130061, jilin prov., 
china 
swift: bkch cn bj 840 
tlx: 83006 ccboc cn 
tel: (86) 0431-8409055 
fax: (86) 0431-8409054 
post code: 130061 
changchun xl an 
da lu sub-branch 
91 tongzhi street, 
changchun 130061, 
jilin prov., china 
swift: bkch cn bj 85a 
214 
tel: (86) 0431-8948671 
fax: (86) 0431-8948667 
post code: 130061 
jilin city branch 
1 shenzhen avenue, 
jilin 132011, 
jilin prov., china 
swift: bkch cn bj 85b 
tel: (86) 0432-4670216 
fax: (86) 0432-4670299 
post code: 132011 
yanbian branch 
107 renmin lu, 
yanbian 133000, 
jilin prov., china 
tel: (86) 0433-2536454 
fax: (86) 0433-2516877 
post code: 133000 
liaoning 
province 
liaoning branch 
9 zhong shan square, 
zhong shan district, 
dalian 116001, 
liaoning prov., china 
swift: bkch cn bj 810 
tel: (86) 0411-82586666 
fax: (86) 0411-82586366 
post code: 116001 
dalian zhongshan 
square 
sub-branch 
5 jiefang street, 
zhong shan district, 
dalian 116001, 
liaoning prov., china 
swift: bkch cn bj 82n 
tel: (86) 0411-82641655 
fax: (86) 0411-82519786 
post code: 116001 
shenyang branch 
253 shifu road, shenhe 
district, 
shenyang 110013, 
liaoning prov., china 
swift: bkch cn bj 82a 
tel: (86) 024-22810556 
fax: (86) 024-22810536 
post code: 110013 
anshan branch 
298 road, 
nanzhonghua 
tiedong, 
anshan, liaoning 
prov., china 
swift: bkch cn bj 82d 
tel: (86) 0412-5933011 
fax: (86) 0412-5933013 
post code: 114000 
dalian 
development 
zone branch 
bank of china tower, 
158 jin 
ma lu,dalian 
economic and 
technicaldevelopme 
nt zone, 
dalian 116600, 
liaoning prov., china 
swift: bkch cn bj 82h 
tel: (86) 0411-87612223 
fax: (86) 0411-87648411 
post code: 116600 
jinzhou branch 
25 sections, 5 jiefang 
road, 
linghe district, 
jinzhou 
121000, liaoning prov., 
china 
tel: (86) 0416-3185513 
fax: (86) 0416-3185869 
post code: 121000 
yingkou branch 
8 west, bohai dajie, 
zhanqian district, 
yingkou 115000, 
liaoning prov., china 
tel: (86) 0417-2805159 
fax: (86) 0417-2833680 
post code: 115000 
ningxia hui* 
ningxia branch 
170 jiefang xi street, 
yinchuan 750001, 
ningxia hui*, china 
swift: bkch cn bj 260 
tel: (86) 0951-5044671 
fax: (86) 0951-5044671 
post code: 750001 
qinghai 
province 
qinghai branch 
218 dongguan street, 
xining 810000, 
qinghai prov., china 
swift: bkch cn bj 280 
tel: (86) 0971-8180186 
fax: (86) 0971-8180192 
post code: 810000 
shaanxi 
province 
shaanxi branch 
38 juhua yuan dongda 
street, 
xi_an 710001, shaanxi 
prov., china 
215 
swift: bkch cn bj 620 
tel: (86) 029-87261726 
fax: (86) 029-87261933 
post code: 710001 
shandong 
province 
shandong branch 
59 xianggang zhong 
lu, qingdao 266071, 
shandong prov., 
china 
swift: bkch cn bj 500 
tel: (86) 0532-81858201 
fax: (86) 0532-81858185 
post code: 266071 
jinan branch 
22 luo yuan dajie, 
jinan 250063, 
shandong prov., 
china 
swift: bkch cn bj 5lb 
tel: (86) 0531-86995076 
0531-86995004 
fax: (86) 0531-86995223 
post code: 250063 
rizhao branch 
18 huanghai 1 lu, 
rizhao 276826, 
shandong prov., 
china 
swift: bkch cn bj 51e 
tel: (86) 0633-8329526 
fax: (86) 0633-8331264 
post code: 276826 
weihai branch 
9 north qingdao 
road, 
weihai 264200, 
shandong prov., 
china 
swift: bkch cn bj 51d 
tel: (86) 0631-5326988 
fax: (86) 0631-5317207 
post code: 264200 
yantai branch 
166 jie fang road, 
yantai 264001, 
shandong prov., 
china 
swift: bkch cn bj 5la 
tel: (86) 0535-6238888 
fax: (86)0535-6238888-6738 
post code: 264001 
shanghai 
city 
shanghai branch 
200 mid. yincheng rd., 
pudong new district, 
shanghai 200121, china 
swift: bkch cn bj 300 
tlx: 33062 bocsh cn 
tel: (86) 021-38824588 
fax: (86) 021-64729384 
post code: 200121 
boc 
international 
(china) 
limited 
39–40/f., bank of china 
tower, 
200 yincheng zhong 
lu, 
pudong, shanghai 
200121, china 
tel: (86) 021-68604866 
fax: (86) 021-58883554 
post code: 200121 
website: www.bocichina.com 
email: china@bocigroup.com 
boc 
international 
investment 
managers limited 
45/f., bank of china 
tower, 
200 yincheng zhong 
lu, 
pudong, shanghai 
200121, china 
tel: (86) 021-38834999 
fax: (86) 021-68872488 
post code: 200121 
website: www.bociim.com 
shanxi 
province 
shanxi branch 
288 yingze dajie, 
taiyuan 030001, 
shanxi prov., china 
swift: bkch cn bj 680 
tel: (86) 0351-8266282 
fax: (86) 0351-4040364 
post code: 030001 
shuozhou branch 
19 kaifa nan lu, 
shuozhou 036000, 
shanxi prov., china 
tel: (86) 0349-2022180 
fax: (86) 0349-2020861 
post code: 036000 
sichuan 
province 
sichuan branch 
35 middle renmin 
road 
(2 duan), chengdu 
610015, 
sichuan prov., china 
swift: bkch cn bj 570 
tlx: 60306 boccd cn 
tel: (86) 028-86403267 
028-86741950 
216 
fax: (86) 028-86403346 
post code: 610015 
chengdu 
shududadao 
sub-branch 
18 north shuwa 3 
street, 
chengdu 610016, 
sichuan prov., china 
tel: (86) 028-86668221 
86671909 86662260 
fax: (86) 028-86676787 
86720847 
post code: 610016 
shenzhen 
city 
shenzhen branch 
international 
finance 
building, 2022 jianshe 
road, 
luohu district, 
shenzhen 518001, 
guangdong prov., 
china 
swift: bkch cn bj 45a 
tlx: 420309 bocsz cn 
420243 bocsz cn 
tel: (86) 0755-22338888 
fax: (86) 0755-82259209 
post code: 518005 
shekou 
sub-branch 
18 taizi road, haijing 
plaza, 
shekou, shenzhen 
518067, 
guangdong prov., 
china 
swift: bkch cn bj 45b 
tel: (86) 0755-26811848 
0755-26811823 
fax: (86) 0755-26811829 
post code: 518067 
bank of china 
insurance co., ltd 
shenzhen branch 
31/f., international 
finance 
building, 2022 jianshe 
road, 
luohu district, 
shenzhen 518005, 
guangdong prov., 
china 
tel: (86) 0755-25155678 
fax: (86) 0755-25179843 
post code: 518005 
website: www.boc-ins.com 
tianjin city 
tianjin branch 
80 jiefang north road, 
heping district, 
tianjin 300040, china 
swift: bkch cn bj 200 
tel: (86) 022-27102335 
022-27102329 
fax: (86) 022-23312809 
022-27102349 
post code: 300040 
binhai branch 
ab1-11、c1-2 build, 5 
west area, 
binhai financial 
street, 
51 the 3rd street, 
economic and 
technological 
development area, 
tianjin 300457, china 
swift: bkch cn bj 2la 
tel: (86) 022-66283917 
fax: (86) 022-66283918 
post code: 300457 
tibet* 
tibet branch 
28 linkuo xi lu, 
lhasa city 850000, 
tibet*, china 
swift: bkch cn bj 900 
tel: (86) 0891-6835078 
fax: (86) 0891-6835078 
post code: 850000 
xinjiang 
uygur* 
xinjiang branch 
bank of china 
building, 
2 dongfeng road, 
urumqi 830002, 
xinjiang uygur*, 
china 
swift: bkch cn bj 760 
tel: (86) 0991-2336007 
fax: (86) 0991-2828619 
post code: 830002 
yunnan 
province 
yunnan branch 
515 beijing road, 
kunming 650051, 
yunnan prov., china 
swift: bkch cn bj 640 
tlx: 64034 kmbnk cn 
tel: (86) 0871-3192910 
fax: (86) 0871-3188976 
post code: 650051 

217 
zhejiang 
province 
zhejiang branch 
321 feng qi road, 
hangzhou 310003, 
zhejiang prov., china 
swift: bkch cn bj 910 
tlx: 35019 bochz cn 
tel: (86) 0571-85011888 
fax: (86) 0571-87074837 
post code: 310003 
ningbo branch 
139 yaoxing jie, 
ningbo 315000, 
zhejiang prov., china 
swift: bkch cn bj 92a 
tlx: 37039 nbboc cn 
tel: (86) 0574-87196666 
fax: (86) 0574-87198889 
post code: 315000 
shaoxing branch 
201 middle renmin 
road 
shaoxing 312000, 
zhejiang prov., china 
swift: bkch cn bj 92d 
tlx: 37429 bocsx cn 
tel: (86) 0575-5111333 
fax: (86) 0575-5134405 
post code: 312000 
wenzhou branch 
xihu jinyuan, renmin 
west 
road, wenzhou 325000, 
zhejiang prov., china 
swift: bkch cn bj 92b 
tlx: 37110 wzboc cn 
tel: (86) 0577-88265566 
fax: (86) 0577-88267887 
post code: 325000 
zhoushan branch 
33 jiefangdonglu 
road, 
dinghai, zhoushan 
316000, 
zhejiang prov., china 
swift: bkch cn bj 92e 
tel: (86) 0580-2068120 
fax: (86) 0580-2068008 
post code: 316000 
*_refers to autonomous 
region 

218 
major hong kong and macau network 
boc hong kong 
(holdings) limited 
52/f., bank of china 
tower，1 garden road， 
hong kong 
tel: (852) 28462700 
fax: (852) 28105830 
website: www.bochk.com 
bank of china (hong 
kong) limited 
1 garden road, hong 
kong 
swift: bkch hk hh 
tlx: 73772 bkchi hx 
tel: (852) 28266888 
fax: (852) 28105963 
website: www.bochk.com 
nanyang commercial 
bank limited 
151 des voeux road 
central, hong kong 
tel: (852) 28520888 
fax: (852) 28153333 
website: www.ncb.com.hk 
email: nanyang@ncb.com.hk 
chiyu banking 
corporation limited 
78 des voeux road 
central, hong kong 
tel: (852) 28430111 
fax: (852) 28104207 
website: www.chiyubank.com 
email: chiyu@chiyubank.com 
boc credit card 
(international) 
limited 
20/f., boc credit card 
centre 68 connaught 
road west, hong kong 
tel: (852) 28538888 
fax: (852) 25415415 
website: www.boci.com..hk 
boc international 
holdings limited 
26/f., bank of china 
tower, 
1 garden road, hong 
kong 
tel: (852) 22308888 
fax: (852) 21479065 
website: www.bocigroup.com 
email: info@bocigroup.com 
boci asia limited 
26/f., bank of china 
tower, 
1 garden road, hong 
kong 
tel: (852) 22308888 
fax: (852) 25226797 
email: info@bocigroup.com 
boci securities 
limited 
20/f., bank of china 
tower, 
1 garden road, hong 
kong 
tel: (852) 28676333 
fax: (852) 25247327 
email: securities@bocigroup.com 
18/f., low block, 
grand millennium plaza, 
181 queen’s road 
central, 
hong kong 
tel: (852) 27189888 
fax: (852) 27189966 
email: securities@bocigroup.com 
boci research 
limited 
20/f., bank of china 
tower, 
1 garden road, hong 
kong 
tel: (852) 28676333 
fax: (852) 21479513 
website: www.bociresearch.com 
email: info@bocigroup.com 
boci capital limited 
26/f., bank of china 
tower, 
1 garden road, hong 
kong 
tel: (852) 22308888 
fax: (852) 21479065 
email: info@bocigroup.com 
boci commodities & 
futures limited 
suites 1601-7, 16/f., 
city plaza 
1111 king’s road, 
hong kong 
tel: (852) 28676600 
fax: (852) 21970290 
email: futures@bocigroup.com 
boci-prudential 
asset 
management limited 
27/f., bank of china 
tower, 
1 garden road, hong 
kong 
tel: (852) 22808000 
fax: (852) 21510968 
website: www.boci-pru.com.hk 
email: info@boci-pru.com.hk 
boci-prudential 
trustee limited 
27/f., bank of china 
tower, 
1 garden road, hong 
kong 
tel: (852) 22808000 
fax: (852) 25166757 
website: www.boci-pru.com.hk 
email: info@boci-pru.com.hk 

219 
bank of china group 
insurance company 
limited 
9/f., wing on house, 
71 des voeux road hong 
kong 
tel: (852) 28670888 
fax: (852) 25221705 
website:www.bocgroup.com/bocg 
-ins/ 
email: info_ins@bocgroup.com 
boc group life 
assurance 
company limited 
13-21/f., bocg insurance 
tower, 
134-136 des voeux road 
central, 
hong kong 
tel: (852) 28629898 
fax: (852) 28660938 
website: 
www.bocgroup.com/bocg-life 
email: boc_life@bocgroup.com 
bank of china group 
investment limited 
23/f., bank of china 
tower, 
1 garden road central, 
hong kong 
tel: (852) 22007500 
fax: (852) 28772629 
website: www.bocgi.com 
email: 
bocginv_bgi@bocgroup.com 
macau branch 
bank of china building, 
avenida doutor mario 
soares, 
macau 
swift: bkchmomx 
tlx: 88231 bkchi om 
tel: (853) 28781828 
fax: (853) 28781833 
website: www.bocmacau.com 

220 
major overseas network 
asia-pacific 
area 
(excluding 
hong kong & 
macau) 
singapore branch 
4 battery road, bank of 
china 
building, singapore 
049908 
swift: bkchsgsg 
tel: (65) 65352411 
fax: (65) 65343401 
email: 
service_sg@bank-of-china.com 
south sub-branch 
20 maxwell road 
#01-01,maxwell house, 
singapore 069113 
tel: (65) 62233466 
fax: (65) 62236601 
north sub-branch 
133 middle road, boc 
plaza, 
singapore 188974 
tel: (65) 68328108 
fax: (65) 63339281 
katong sub-branch 
188-192 east coast road, 
singapore 428898 
tel: (65) 64402440 
fax: (65) 63440737 
central sub-branch 
60 cecil street, kpb 
building, 
singapore 049709 
tel: (65) 62239622 
fax: (65) 62218820 
chinatown 
sub-branch 
60 eu tong sen street 
#01-01, 
furama hotel, singapore 
059804 
tel: (65) 65337453 
fax: (65) 65345571 
boc international 
(singapore) pte. ltd. 
4 battery road #04-00, 
bank of china building, 
singapore 049908 
tel: (65) 64128899 
fax: (65) 65343996 
email: singapore@bocigroup.com 
bank of china 
(malaysia) 
berhad 
ground, mezzanine, &1st 
floor, 
plaza osk, 25 jalan 
ampang, 
50450 kuala lumpur, 
malaysia 
swift: bkchmykl 
tel: (603) 21626633 
fax: (603) 21615150 
email: 
service_my@bank-of-china.com 
sydney branch 
39-41 york street, 
sydney nsw 2000, 
australia 
swift: bkchau2s 
tel: (612) 82355888 
fax: (612) 92621794 
email: 
service_au@bank-of-china.com 
bank of china 
(australia) 
limited 
39-41 york street, sydney 
nsw 2000, 
australia 
swift: bkchau2a 
tel: (612) 82355888 
fax: (612) 92621794 
email: 
service_au@bank-of-china.com 
haymarket branch 
681 george street, 
haymarket nsw 2000, 
australia 
tel: (612) 92123877 
fax: (612) 92123962 
melbourne branch 
270 queen street, 
melbourne vic 3000, 
australia 
tel: (613) 96023655 
fax: (613) 96023383 
parramatta office 
shop 2104, level 2, 
westfield shopping 
town, 
parramatta nsw 2150, 
australia 
tel: (612) 98938833 
fax: (612) 96872919 
tokyo branch 
boc bldg.3-4-1 akasaka, 
minato-ku, 
tokyo, 107-0052 japan 
swift: bkchjpjt 
tel: (813) 35058818 
fax: (813) 35058433 
email: 
service_jp@bank-of-china.com 
osaka branch 
boc bldg.1-1-35 kitahorie, 
nishi-ku, osaka, 550-0014 
japan 
swift: bkchjpjtosa 
221 
tel: (816) 65393666 
fax: (816) 65381177 
yokohama branch 
1/f., fincl bldg.89-1 
yamashita-cho, 
naka-ku, yokohama, 
231-0023 japan 
swift: bkchjpjtyha 
tel: (8145) 6632288 
fax: (8145) 6638688 
otemachi office 
1/f., shin-otemachi bldg., 
2-2-1 otemachi, 
chiyoda-ku, 100-0004 japan 
tel: (813) 32770288 
fax: (813) 32770289 
jsc ab《bank of china 
kazakhstan》 
201, str.gogol, 050026, 
almaty, 
republic of kazakhstan 
swift: bkchkzka 
tel: (7327) 2585510 
fax: (7327) 2585514/2501896 
email: 
service_kz@bank-of-china.com 
yalian branch 
9,north ring road, 050060, 
almaty, 
republic of kazakhstan 
tel：(7327) 2452373 
fax：(7327) 2452373 
seoul branch 
1/2f., young poong 
bldg.,33 seolin-dong, 
chongro-gu seoul 
110-752,korea 
swift: bkchkrsexxx 
tel：(822) 3996268/3996272 
fax：(822) 3996265/3995938 
email： 
service_kr@bank-of-china.com 
ansan branch 
1/f., dong yang bldg., 
801-11, 
wongok-dong, 
danwon-gu, ansan, 
kyonggi-do 425-846,korea 
swift：bkchkrseans 
tel：(8231) 4934638/4954518 
fax：(8231) 4956407 
daegu branch 
1/f., asia cement 
building., 
220-14,naedang dong 
daegu, 
703-802 korea 
swift：bkchkrsedae 
tel：(8253) 5232020/5238859 
fax：(8253) 5238861 
bangkok branch 
179/4 bangkok city 
tower, 
south sathorn rd., 
tungmahamek, sathorn 
district, 
bangkok 10120, thailand 
swift: bkchthbk 
tlx: 81091 bocbkk th 
tel: (662) 2861010 
fax: (662) 2861020 
email: 
service_th@bank-of-china.com 
ho chi minh city 
branch 
19/f., sun wah tower, 
115 nguyen hue blvd., 
district 1, 
ho chi minh city, vietnam 
swift: bkchvnvx 
tel: (848) 8219949 
fax: (848) 8219948 
email: 
service_vn@bank-of-china.com 
manila branch 
g/f & 36/f, philamlife 
tower, 
8767 paseo de roxas, 
makati city, manila 
philippines 
swift: bkchphmm 
tel: (632) 8850111 
fax: (632) 8850532 
email: 
service_ph@bank-of-china.com 
jakarta branch 
wisma tamara suite 
101&201 jalan 
jend. sudirman kav.24 
jakarta 
12920, indonesia 
swift: bkchidja 
tel: (6221) 5205502 
fax: (6221) 5201113 
email: 
service_id@bank-of-china.com 
bahrain 
representative 
office 
office 152, al jasrah 
tower, 
diplomatic area 
building 95, 
road 1702, block 317, 
p.o.box 10059 manama, 
kingdom of bahrain 
tel: (973) 17531119 
fax: (973) 17531009 
email: 
service_bh@bank-of-china.com 
europe 
london branch 
90 cannon street, 
london ec4n 6ha, u.k. 
swift: bkchgb2l 
tlx: 8812913 bkchi g 
tel: (4420) 72828888 
fax: (4420) 76263892 
email: 
service_uk@bank-of-china.com 
west end branch 
107 shaftesbury ave., 
london wld 5da, u.k. 
tel: (4420) 74375975 
fax: (4420) 77341704 
manchester branch 
67-69 mosley street, 
manchester m2 3jb, u.k. 
tel: (4416) 12368302 
fax: (4416) 12280285 
glasgow branch 
450 sauchiehall street, 
glasgow g2 3jd, u.k. 
222 
tel: (4414) 13323354 
fax: (4414) 13326728 
birmingham branch 
33 horse fair, 
birmingham b1 1dd, 
u.k. 
tel: (4412) 16227002 
fax: (4412) 16227082 
bank of china 
international (uk) 
limited 
90 cannon street, 
london ec4n 6ha, u.k. 
tel: (4420) 70228888 
fax: (4420) 70228877 
email: uk@bocigroup.com 
luxembourg branch 
37/39 boulevard prince 
henri l-1724, 
luxembourg p. o. box 114 
l-2011, 
luxembourg 
swift: bkchlull 
tlx: 3546 chung lu 
tel: (352) 221791/4667911 
fax: (352) 221795 
website: 
www.bank-of-china.com/lu/ 
email: 
service_lu@bank-of-china.com 
bank of china 
(luxembourg) s.a. 
37/39 boulevard prince 
henri l-1724, 
luxembourg p. o. box 721 
l-2017, 
luxembourg 
tel: (352) 228777/4667911 
fax: (352) 228776 
website: 
www.bank-of-china.com/lu/ 
email: 
service_lu@bank-of-china.com 
paris branch 
23-25 avenue de la 
grande armee, 75116 
paris, france 
swift: bkchfrpp 
tlx: 281 090 bdcsp 
tel: (331) 49701370 
fax: (331) 49701372 
email: 
service_fr@bank-of-china.com 
agence italie 
11 place d’italie 75013 
paris, france 
swift: bkchfrpp013 
tel: (331) 45828710 
fax: (331) 45857449 
frankfurt branch 
bockenheimer landstr.39 
d-60325 frankfurt am 
main, germany 
swift: bkchdeff 
tel: (4969) 1700900 
fax: (4969) 17009050 
website: www.bocffm.com 
email: 
service_de@bank-of-china.com 
hamburg branch 
rathausmarkt 5, d-20095 
hamburg, 
germany 
swift: bkchdeffhmb 
tel: (4940) 3410668-0 
fax: (4940) 3410668-88 
milan branch 
via santa margherita, 
no.14/16 20121 milano, 
italy 
swift: bkchitmm 
tlx: 326011 
tel: (3902) 864731 
fax: (3902) 89013411 
email: 
service_it@bank-of-china.com 
bank of china 
(eluosi) 
6/f., mosbusiness center, 
no.72, 
prospect mira, 129110 
moscow, 
russia 
swift: bkchrumm 
tlx: 413973 bocr ru 
tel: (7495) 7950451 
fax: (7495) 7950454 
website: www.boc.ru 
email: 
service_ru@bank-of-china.com 
bank of china 
(hungary) 
close ltd. 
bank center, 7 
szabadsag ter, 
1054 budapest, hungary 
swift: bkchhuhb 
tel: (361) 3543240 
fax: (361) 3029009 
email: 
service_hu@bank-of-china.com 
america 
new york branch 
410 madison avenue, new 
york, 
ny 10017, u.s.a. 
swift: bkchus33 
tlx: 661723bkchi 
tel: (1212) 9353101 
fax: (1212) 5931831 
website: www.bocusa.com 
email: 
service_us@bank-of-china.com 
new york 
chinatown 
branch 
42 east broadway, new 
york, 
ny 10002, u.s.a. 
swift: bkchus33ctx 
tlx: 661723bkchi 
tel: (1212) 9252355 
fax: (1212) 4316157 
los angeles branch 
444 south flower street, 
39th 
floor, los angeles, ca 
90071, u.s.a. 
swift: bkchus33lax 
tlx: 188127bocla ut 
tel: (1213) 6888700 
fax: (1213) 6880198 
boc international 
(usa) inc. 
223 
room 202, 1270 avenue of the 
americas 
new york. ny 10020,usa 
tel：(212) 2590888 
fax：(212) 2590889 
email: bociusa@bocigroup.com 
grand cayman 
branch 
grand pavilion 
commercial center 
802 west bay road 
p.o.box 30995 
grand cayman ky1-1204 
cayman islands 
swift: bkchkyky 
tel: (1345) 9452000 
fax: (1345) 9452200 
email: 
service_ky@bank-of-china.com 
panama branch 
p.o.box 0823-01030, 
calle manuel m. icaza 
no.14, 
panama, republic of 
panama 
swift: bkchpapa 
tel: (507) 2635522 
fax: (507) 2239960 
email: 
service_pa@bank-of-china.com 
bank of china 
(canada) 
the exchange tower, 
130 king street west, 
suite 2730, 
p.o.box 356,toronto， 
ontario, canada m5x 1e1 
swift: bkchcatt 
tlx: 06217598 bocc tor 
tel: (1416) 3622991 
fax: (1416) 3623047 
email: 
service_ca@bank-of-china.com 
toronto downtown 
branch 
396 dundas street west, 
toronto, 
ontario, canada m5t 1g7 
swift: bkchcattctx 
tel: (1416) 9718806 
fax: (1416) 9716551 
toronto 
scarborough 
branch 
unit 33, 3300 midland ave., 
scarboro village mall 
scarborough, 
ontario, canada m1v 4a1 
tel: (1416) 2977921 
fax: (1416) 2976187 
vancouver branch 
1025 dunsmuir street, 
p.o.box 
49277,four bentall 
centre, vancouver, b.c., 
canada v7x 1l3 
swift: bkchcattvan 
tlx: 06959308 bocc vcr 
tel: (1604) 6831088 
fax: (1604) 6839228 
sao paulo 
representative 
office 
avenida paulista, 1337-21 
andar, cj.212, 01311-200 sao 
paulo, s.p.brasil 
tel: (5511) 35499958/35499978 
fax: (5511) 35499966 
email: 
service_br@bank-of-china.com 
africa 
bank of china 
(zambia) 
limited 
amandra house, ben 
bella road, 
lusaka, zambia p.o.box 
34550 
swift: bkchzmlu 
tel: (2601) 235349/222549 
fax: (2601) 235350 
email: 
service_zm@bank-of-china.com 
johannesburg 
branch 
4/f., south tower, nelson 
mandela square, 
sandown, sandton, 
south africa 
p.o.box 782616 sandton, 
2146 rsa 
swift: bkchzajj 
tel: (2711) 5209600 
fax: (2711) 7832336 
email: 
service_za@bank-of-china.com 

224 
definitions 
in this annual report, unless the context otherwise requires, the following terms 
shall have the meaning set out below: 
"our bank'', the "bank'', 
the "group'', "we'', 
and"us'' 
bank of china limited or its 
predecessors and, except where the context otherwise 
requires,all of the subsidiaries of bank of china limited 
"csrc'' china securities regulatory commission 
"hong kong monetary 
authority'' or ""hkma'' 
the hong kong monetary authority 
"hong kong stock 
exchange'' 
the stock exchange of hong kong limited 
"cbrc'' 
china banking regulatory commission 
"huijin'' central safe investments limited 
"ncssf'' 
national council for social security fund 
"hong kong listing 
rules'' 
the rules governing the listing of securities on the stock 
exchange of hong kong limited 
"prc banking 
regulatory 
law'' 
the prc banking regulatory law, which was enacted by the 
standing committee of the eleventh npc on december 27, 
2003 and effective on february 1, 2004 
"prc securities law'' 
the securities law of the prc, as enacted by the ninth npc 
on december 29, 1998 and effective on july 1, 1999, as 
225 
amended, supplemented or otherwise modified from time to 
time 
"prc company law'' 
the company law of the prc , as enacted by the standing 
committee of the eighth npc on december 29, 1993 and 
effective on july 1, 1994, as amended, supplemented or 
otherwise modified from time to time 
"articles of association'' 
the articles of association of our bank, approved by the china 
banking regulatory commission on 27 september2006 
"rbs china'' 
rbs china investments s. à r.l. 
"rbs group'' 
the royal bank of scotland group plc 
"rbs bank'' 
the royal bank of scotland plc 
"china orient'' 
china orient asset management corporation 
, an asset management company established by the prc. 
government for management and disposal of non-performing 
loans acquired from prc commercial banks 
" chiyu'' chiyu banking corporation, limited 
" nanyang'' nanyang commercial bank, limited 
"ubs'' ubs ag 
pricewaterhousecoopers 
zhong tian 
pricewaterhousecoopers 
zhong tian certifies public accountants limited company 
"cinda'' 
china cinda asset management corporation, an asset 
management company established by the prc government for 
226 
management and disposal of non-performing loans acquired 
from prc commercial banks 
"afh'' 
asia financial holdings pte. ltd. 
"bocg insurance'' 
bank of china group insurance company limited 
"boci-prudential'' 
boci-prudential asset management limited 
"boci'' 
boc international holdings limited 
"boci group'' 
boci and its subsidiaries and associated companies 
"boci china'' 
boc international (china) limited 
"bocg insurance'' 
bank of china group insurance company limited 
"bocg life'' 
boc group life assurance company limited 
"bocg investment'' 
bank of china group investment limited 
"bochk'' 
bank of china (hong kong) limited , a company incorporated 
under the laws of hong kong and a wholly-owned subsidiary 
of bochk holdings 
"bochk (bvi)'' 
boc hong kong (bvi) limited 
"bochk group'' 
boc hong kong (group) limited 
"bochk holdings'' 
boc hong kong (holdings) limited, a company incorporated 
under the laws of hong kong, in which we hold a 65.88% 
227 
interest and the ordinary shares of which are listed on the 
hong kong stock exchange 
"boc credit card 
limited '' 
boc credit card (international) limited 
tai fung bank tai fung bank limited 
sale singapore aircraft leasing enterprise pte. ltd. 
mis management information system 
non-performing loans according to the loan classification principles, loans are 
divided into five categories by the degree of risk involved. 
non-performing loans refer to the substandard, doubtful and 
loss loans. five categories are adopted in this report unless 
otherwise stated. 
"loan classification 
principles'' 
the guiding principles on the classification of loan risk 
management as promulgated by the pboc on december 24, 
2001 and effective on january 1, 2002 
basis point refer to 0.01 percentage point 
interest-bearing liabilities includes customer deposits, due to and placements from banks 
and other financial institutions, special purpose borrowings 
and etc. 
impaired loan according the accounting practices of international banking, if 
objective impairment evidence shows that the future cash flow 
of loans will decreases and the amount can be estimated, and 
then the bank identifies the loan as impaired loan and 
recognizes the losses as well 

228 
interest-earning assets includes customer loans, debt securities, due from and 
placements with banks and other financial institutions 
"rmb'' , "renminbi'' 
renminbi, the lawful currency of the prc 
shibor shanghai inter-bank offer rate 
annual general meeting the annual general meeting of the bank convened to be held 
on thursday, 14 june 2007 at 3:00 p.m. at central garden 
hotel, no. 18 gaoliangqiaoxiejie, xizhimenwai ave., hai 
dian district, beijing, people’s republic of china 
sfo securities and futures ordinance of the laws of hksar 

bank of china limited 
financial statements and report of the auditors 
for the year ended 31 december 2006 
[english translation for reference only] 
bank of china limited 
financial statements and report of auditors 
for the year ended 31 december 2006 
contents pages 
report of the auditor 1-2 
consolidated and company balance sheets 3-4 
consolidated and company income statements 5 
consolidated and company statements of changes in shareholders’ equity 6-8 
consolidated and company cash flow statements 9-10 
notes to the financial statements 11-99 
appendix i － reconciliation between prc gaap and ifrs financial information 100-104 
appendix ii －unaudited net profit after deducting non-routine items 105 
appendix iii －unaudited return on net assets and earnings per share 106 

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 
report of the auditor 
pwc zt sz (2007) no. 10826 
to the shareholders of bank of china limited: 
we have audited the accompanying consolidated financial statements of bank of china limited (the 
“bank”) and its subsidiaries (together, the “group”) which comprise the consolidated and company 
balance sheets as at 31 december 2006, the consolidated and company income statements, 
statements of changes in equity and cash flow statements for the year then ended, and notes to 
these financial statements. 
management’s responsibility for the financial statements 
management is responsible for the preparation and the true and fair presentation of these financial 
statements in accordance with the accounting standards for business enterprises, the accounting 
system for financial institutions, and other relevant accounting regulations as applicable to the 
bank and the group as described in section ii of the notes to the financial statements. this 
responsibility includes designing, implementing and maintaining internal control relevant to the 
preparation of financial statements that are free from material misstatement, whether due to fraud or 
error; selecting and applying appropriate accounting policies; and making accounting estimates that 
are reasonable in the circumstances. 
auditor’s responsibility 
our responsibility is to express an opinion on these financial statements based on our audit. we 
conducted our audit in accordance with china auditing standards. those standards require that we 
comply with ethical requirements and plan and perform the audit to obtain reasonable assurance 
whether the financial statements are free from material misstatement. 
an audit involves performing procedures to obtain audit evidence about the amounts and 
disclosures in the financial statements. the procedures selected depend on the auditor’s judgment, 
including the assessment of the risks of material misstatement of the financial statements, whether 
due to fraud or error. in making those risk assessments, the auditor considers internal control 
relevant to the entity’s preparation of the financial statements in order to design audit procedures 
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the 
effectiveness of the entity’s internal control. an audit also includes evaluating the appropriateness of 
accounting policies used and the reasonableness of accounting estimates made by management, 
as well as evaluating the overall presentation of the financial statements. 
we believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis 
for our audit opinion. 
opinion 
in our opinion, these financial statements present fairly, in all material respects, the financial position 
of the bank and the group as at 31 december 2006, and of the bank and group’s financial 
performance and their cash flows for the year then ended in accordance with the accounting 
standards for business enterprises, the accounting system for financial institutions, and other 
relevant accounting regulations applicable to the bank and the group. 
pricewaterhousecoopers zhong tian 
certified public accountants limited company 
shanghai, china 
22 march 2007 
bank of china limited 
balance sheets 
as at 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
3 
bank of china group bank of china limited 
assets note 
31 december 
2006 
31 december 
2005 
31 december 
2006 
31 december 
2005 
cash 31,110 28,644 27,632 25,144 
precious metals 42,873 30,314 41,332 28,577 
due from central banks v.1 379,631 316,941 354,881 284,373 
government certificates of 
indebtedness for bank notes 
issued v.14 36,626 35,586 1,713 1,641 
trading and other debt 
securities at fair value 
through profit or loss v.2 110,634 107,271 76,581 82,082 
derivative financial instruments v.3 24,837 16,808 16,363 11,329 
due from and placements with 
banks and other financial 
institutions v.4 407,840 344,537 313,212 256,786 
debt securities v.5; vi.1 1,768,784 1,562,320 1,452,030 1,297,990 
loans and advances to 
customers v.6; vi.2 2,431,806 2,235,046 2,064,614 1,868,105 
less: allowance for impairment 
losses v.7 (94,293) (83,153) (92,962) (79,581) 
interest receivable v.8 24,306 20,408 20,035 16,107 
equity investments v.9; vi.3 18,280 15,393 70,969 66,951 
fixed assets v.10 91,808 72,978 52,650 53,392 
construction in progress v.11 6,585 3,342 4,630 3,331 
deferred income tax assets v.20 17,605 17,561 17,492 17,428 
other assets v.12 26,841 18,810 9,801 10,384 
total assets 5,325,273 4,742,806 4,430,973 3,944,039 

bank of china limited 
balance sheets (continued) 
as at 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
4 
bank of china group bank of china limited 
liabilities note 
31 december 
2006 
31 december 
2005 
31 december 
2006 
31 december 
2005 
due to central banks v.13 42,374 30,055 42,349 30,030 
bank notes in circulation v.14 36,823 35,731 1,909 1,786 
derivative financial instruments 
and liabilities at fair value 
through profit or loss v.15 113,048 91,174 91,084 76,323 
due to and placements from 
banks and other financial 
institutions v.16 321,381 345,233 309,667 343,574 
deposits from customers v.17; vi.4 4,095,422 3,703,777 3,359,870 3,009,187 
interest payable 33,834 27,024 31,747 25,291 
other borrowings v.18 63,398 52,164 46,006 52,164 
bonds issued v.19 60,173 60,179 60,173 60,179 
deferred income tax liabilities v.20 1,104 184 30 22 
other liabilities v.21 139,902 134,665 99,668 111,641 
total liabilities 4,907,459 4,480,186 4,042,503 3,710,197 
minority interest v.23 29,560 28,778 - - 
shareholders’ equity 
share capital v.24 253,839 209,427 253,839 209,427 
capital reserve v.25 76,549 3,978 75,889 3,978 
surplus reserve v.26 10,380 5,987 10,380 5,987 
general reserve and regulatory 
reserve v.27 13,934 5,109 13,934 5,109 
undistributed profits v.28 39,884 12,585 40,528 12,585 
reserve for fair value changes 
of available-for-sale securities v.29 (2,439) (1,380) (2,439) (1,380) 
currency translation differences (3,677) (1,864) (3,661) (1,864) 
treasury shares v.24 (216) - - - 
total shareholders’ equity 388,254 233,842 388,470 233,842 
total liabilities and 
shareholders’ equity 5,325,273 4,742,806 4,430,973 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 
department: 
li lihui liu yanfen
bank of china limited 
income statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
5 
bank of china group bank of china limited 
note 2006 2005 2006 2005 
interest income v.30; vi.5 214,670 167,345 172,997 138,739 
interest expense v.30; vi.5 (93,963) (66,940) (69,419) (53,500) 
net interest income 120,707 100,405 103,578 85,239 
net fee and commission income v.31; vi.6 14,323 9,247 9,760 6,220 
net trading (losses)/gains v.32; vi.7 (3,779) 4,482 (3,792) 2,642 
investment gains/(losses) v.33; vi.8 3,831 (248) 12,899 10,167 
other operating income, net v.34 2,546 2,142 1,868 692 
137,628 116,028 124,313 104,960 
operating and administrative 
expenses v.35; vi.9 (53,614) (45,604) (44,923) (38,518) 
business tax and surcharges v.36 (6,462) (5,680) (6,388) (5,604) 
operating profit 77,552 64,744 73,002 60,838 
non-operating income, net 1,044 1,381 109 723 
profit before impairment losses 78,596 66,125 73,111 61,561 
impairment losses v.37; vi.10 (11,587) (10,985) (13,812) (14,250) 
profit before tax 67,009 55,140 59,299 47,311 
income tax v.38 (19,857) (22,543) (16,802) (19,819) 
profit after tax 47,152 32,597 42,497 27,492 
minority interest (5,260) (5,105) - - 
net profit 41,892 27,492 42,497 27,492 
earnings per share for profit 
attributable to the equity 
holders of the bank during the 
year (expressed in renminbi 
per ordinary share) v.39 
- basic 0.18 0.15 
- diluted 0.18 0.15 
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 
statement of changes in shareholders’ equity 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
6 
bank of china group 
note 
share 
capital 
capital 
reserve 
surplus 
reserve 
general 
reserve and 
regulatory 
reserve 
undistributed 
profits 
reserve for fair 
value changes of 
available-for-sale 
securities 
currency 
translation 
differences 
treasury 
shares 
total 
at 1 january 2006 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
net profit - - - - 41,892 - - - 41,892 
issue of ordinary shares v.24; v.25 44,412 72,567 - - - - - - 116,979 
appropriation v.26; v.27 - - 4,393 8,828 (13,221) - - - - 
net change in fair value of 
available-for-sale securities v.29 - - - - - (1,059) - - (1,059) 
dividends v.28 - - - - (1,375) - - - (1,375) 
currency translation differences - - - - - - (1,813) - (1,813) 
purchase of treasury shares v.24 - - - - - - - (216) (216) 
others - 4 - (3) 3 - - - 4 
at 31 december 2006 253,839 76,549 10,380 13,934 39,884 (2,439) (3,677) (216) 388,254 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: 
deputy chairman and president: 
vice president in charge of 
accounting function: 
general manager in charge of the 
accounting department: 
xiao gang li lihui zhou zaiqun liu yanfen 
bank of china limited 
statement of changes in shareholders’ equity 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
7 
bank of china limited 
note 
share 
capital 
capital 
reserve 
surplus 
reserve 
general 
reserve and 
regulatory 
reserve 
undistributed 
profits 
reserve for fair 
value changes of 
available-for-sale 
securities 
currency 
translation 
differences total 
at 1 january 2006 209,427 3,978 5,987 5,109 12,585 (1,380) (1,864) 233,842 
net profit - - - - 42,497 - - 42,497 
issue of ordinary shares v.24; v.25 44,412 72,219 - - - - - 116,631 
appropriation v.26; v.27 - - 4,393 8,828 (13,221) - - - 
net change in fair value of 
available-for-sale securities v.29 - - - - - (1,059) - (1,059) 
dividends v.28 - - - - (1,375) - - (1,375) 
currency translation differences - - - - - - (1,797) (1,797) 
others v.25 (2) - (308) - (3) 42 - - (269) 
at 31 december 2006 253,839 75,889 10,380 13,934 40,528 (2,439) (3,661) 388,470 
the accompanying notes form an integral part of these financial statements. 
legal representative and chairman: 
deputy chairman and president: 
vice president in charge of 
accounting function: 
general manager in charge of the 
accounting department: 
xiao gang li lihui zhou zaiqun liu yanfen 

bank of china limited 
statement of changes in shareholder’s equity 
for the year ended 31 december 2005 
(amount in millions of renminbi, unless otherwise stated) 
8 
bank of china group and bank of china limited 
note 
share 
capital 
capital 
reserve 
surplus 
reserve 
general 
reserve 
and 
regulatory 
reserve 
undistributed 
profits 
reserve for fair 
value changes of 
available-for-sale 
securities 
currency 
translation 
differences total 
at 1 january 2005 186,390 - 3,140 419 17,373 (2,315) 344 205,351 
net profit - - - - 27,492 - - 27,492 
issue of ordinary shares v.24; v.25 23,037 3,964 - - - - - 27,001 
appropriation v.26; v.27 - - 2,847 4,690 (7,537) - - - 
net changes in fair value of 
available-for-sale securities v.29 - - - - - 935 - 935 
dividends v.28 - - - - (26,937) - - (26,937) 
adoption of equity accounting for investment 
in associates v.28 - - - - 2,194 - - 2,194 
currency translation differences - - - - - - (2,208) (2,208) 
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: 
deputy chairman and president: 
vice president in charge of 
accounting function: 
general manager in charge of the 
accounting department: 
xiao gang li lihui zhou zaiqun liu yanfen 
bank of china limited 
cash flow statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
9 
note 
bank of china 
group 
bank of china 
limited 
cash flow from operating activities 
interest received 203,494 162,085 
commission received 16,872 10,779 
proceeds from recovery of bad debts previously 
written-off 3,589 1,201 
net increase in deposits from customers 391,645 350,683 
net decrease in due from and placements with 
banks and other financial institutions 5,266 9,966 
net increase in due to central banks 12,319 12,319 
net change in other operating items 12,442 3,858 
cash inflow from operating activities 645,627 550,891 
payment of interest on customer deposits and interbank 
balances (84,379) (60,189) 
commission paid (2,816) (1,027) 
payment to and on behalf of the employees (27,399) (22,845) 
payment of operating expenses and others (17,564) (15,343) 
income tax paid (25,536) (22,948) 
business and other taxes paid (6,955) (6,885) 
net increase in loans and advances to customers (200,349) (197,710) 
net increase in debt securities (141,089) (88,235) 
net increase in due from central banks (69,063) (75,634) 
net increase in precious metal (12,559) (12,755) 
net decrease in due to and placements from banks 
and other financial institutions (23,852) (33,907) 
net decrease in special purpose borrowings (6,158) (6,158) 
cash outflow from operating activities (617,719) (543,636) 
net cash inflow from operating activities v.40; vi.11 27,908 7,255 

bank of china limited 
cash flow statements (continued) 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
10 
note 
bank of china 
group 
bank of china 
limited 
cash flow from investing activities 
proceeds from disposal of fixed assets and other 
assets 4,841 3,948 
proceeds from disposal of equity investments 3,078 1,095 
dividends received 201 7,192 
cash inflow from investing activities 8,120 12,235 
purchase of fixed assets and other assets (7,425) (6,214) 
acquisition of a subsidiary, net of cash acquired v. 41 (5,373) - 
increase of equity investments (1,635) (579) 
cash outflow from investing activities (14,433) (6,793) 
net cash (outflow)/inflow from investing 
activities (6,313) 5,442 
cash flow from financing activities 
proceeds from issuance of ordinary shares 117,423 116,767 
proceeds from minority shareholders of a subsidiary 
upon exercise of subsidiary share options 33 - 
proceeds from minority shareholders of subsidiaries 55 - 
cash inflow from financing activities 117,511 116,767 
payment of interest on bonds issued (2,774) (2,774) 
dividend paid to shareholders of the bank (1,375) (1,375) 
dividend paid to minority shareholders (3,391) - 
purchases of treasury shares (216) - 
payment of share issuance costs (413) (413) 
cash outflow from financing activities (8,169) (4,562) 
net cash inflow from financing activities 109,342 112,205 
effect of foreign exchange rate changes on cash 
and cash equivalents (8,105) (3,483) 
increase in cash and cash equivalents 122,832 121,419 
cash and cash equivalents at 1 january 2006 397,112 275,623 
cash and cash equivalents at 31 december 2006 v.40; vi.11 519,944 397,042 
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 financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
11 
i general information 
bank of china limited (“the bank”) formerly known as bank of china, is a state-controlled joint stock 
commercial bank, and was founded on 5 february 1912. from its formation until 1949, the bank 
performed various functions of a central bank, foreign exchange bank and commercial bank 
specialising in trade finance. following the founding of the people’s republic of china (the “prc”) in 
1949, the bank was designated as a specialised foreign exchange bank. since 1994, the bank has 
evolved into a state-owned commercial bank. in this regard, in accordance with the master 
implementation plan for the joint stock reform (“joint stock reform plan”) approved by the state 
council of the prc, the bank was converted into a joint stock commercial bank on 26 august 2004 
and its name was changed from bank of china to bank of china limited. the joint stock reform 
plan provided that the bank retains all rights to the assets of and assumes all obligations relating to 
the liabilities of bank of china. 
in 2005, the bank introduced overseas strategic investors. in march 2006, the bank introduced the 
national council for social security fund as another strategic investor. in june 2006, the bank 
issued ordinary h share and a share to oversea and domestic investor, and listed on the stock 
exchange of hong kong limited and the shanghai stock exchange respectively. central safe 
investments limited (“huijin”) owned 67.49% of the bank’s outstanding ordinary shares as at 31 
december 2006. 
the bank is licensed as a financial institution by the china banking regulatory commission (the 
“cbrc”) (no. b10311000h0001) and is registered as a business enterprise with the state 
administration of industry and commerce of the prc (no. 1000001000134). 
the bank and its subsidiaries (collectively, “the group”) provide a full range of commercial banking, 
investment banking, insurance and related financial services to its customers in the prc, hong kong 
special administrative region of the prc (“hong kong”), macau special administrative region of the 
prc (“macau”) and other major international financial centers. 
the bank’s principal regulator is the cbrc. the overseas operations of the group are subject to the 
supervision of local regulators. 
the head office of the bank and its branches operating in the prc are referred to as domestic 
operations. branches and subsidiaries domiciled outside the prc, including those located in hong 
kong and macau, are referred to as overseas operations. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
12 
ii basis of preparation and consolidation 
1 basis of preparation 
the financial statements have been prepared based on the accounting standards for business 
enterprises, the accounting system for financial institutions and other relevant accounting 
regulations applicable to the group (referred to, collectively, as “2001 prc gaap”). other relevant 
accounting regulations applicable to the group include, among other things, caikuaihan [2004] no. 
61 “response to issues concerning the accounting treatment of debt securities” issued by the 
ministry of finance (the “mof”). 
the financial statements have been prepared on an accrual basis and under the historical cost 
convention, as modified by the revaluation to fair value of precious metals, trading and other debt 
securities at fair value through profit or loss, available-for-sale securities, equity investments held for 
trading, other liabilities at fair value through profit or loss and all derivative financial instruments. fair 
value is the amount for which an asset could be exchanged, or a liability settled, between 
knowledgeable, willing parties in an arm’s length transaction. fair values are obtained from quoted 
market prices in active markets, including recent market transactions, and through the use of 
valuation techniques such as discounted cash flow models and option pricing models, as appropriate. 
in february 2006, the mof issued 38 new 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 implements 
these standards, effective 1 january 2007. management has preliminarily assessed the impacts of 
the new standards, which will affect the bank’s and the group’s financial performance and position 
as follows: 
(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 are 
classified as available-for-sale securities. management will 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 historical cost less accumulated 
depreciation and impairment. under the new standards, these assets can either be measured at fair 
value or at cost. the method cannot be changed once it is selected by management. management 
will elect 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, early retirement benefits will be accounted for as a liability at actuarially determined 
value of future obligations to employees who accepted an early retirement arrangement, with 
changes in the value 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 financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
13 
ii basis of preparation and consolidation (continued) 
2 basis of consolidation 
the consolidated financial statements include the accounts of the bank and its subsidiaries. the 
principal subsidiaries of the bank are detailed in note iv, “subsidiaries”. 
the group fully consolidates its subsidiaries from the date on which control is transferred to the 
group and de-consolidates them from the date that control ceases. all significant inter-company 
balances, transactions and 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. 
the purchase method of accounting is used to account for the acquisition of subsidiaries by the 
group. the cost of an acquisition is measured as the fair value of the assets given, equity 
instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly 
attributable to the acquisition. identifiable assets (including intangible assets) acquired and liabilities 
and contingent liabilities assumed in a business combination are measured initially at their fair values 
at the acquisition date, irrespective of the extent of any minority interest. the difference of the cost of 
acquisition and the fair value of the group’s share of the identifiable net assets acquired is recorded 
as equity investment difference. 
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 financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
14 
iii principal accounting policies and accounting estimates 
1 accounting year 
the accounting year of the group is from 1 january to 31 december. 
2 foreign currency translation 
the consolidated financial statements are presented in renminbi (“rmb”). items included in the 
financial statements of each of the group’s entities are measured using the currency of the primary 
economic environment in which the entity operates (“the functional currency”). 
foreign exchange gains and losses resulting from the settlement of foreign currency transactions are 
recognised directly in the income statement. monetary assets and liabilities denominated in foreign 
currencies are translated at the balance sheet date exchange rates. income and expense items 
denominated in foreign currencies are translated at average exchange rates. the differences arising 
from translation are recognised in the income statement. 
the results and financial position of all group entities that have a functional currency different from 
rmb are translated into rmb as follows: 
i. assets and liabilities for each balance sheet presented are translated at the closing rate at the 
date of that balance sheet; 
ii. income and expenses for each income statement are translated at average exchange rates; and 
iii. all resulting exchange differences are recognised as a separate component of equity. 
on consolidation, exchange differences arising from the translation of the net investment in foreign 
entities and monetary items that are part of the net investment in foreign entities are recognised in 
equity. when a foreign entity is sold, these exchange differences are recognised in the income 
statement, as part of the gain or loss on sale. 
the equity investment difference arising on the acquisition of a foreign entity is treated as assets and 
liabilities of the foreign entity and is translated at the closing rate. 
3 cash and cash equivalents 
for the purposes of the cash flow statement, cash and cash equivalents comprise balances with an 
original maturity of less than three months, including cash, non-restricted balances with central 
banks, due from banks, placements with banks and other financial institutions, and short-term bills. 
4 precious metals and precious metals swaps 
precious metals comprise gold, silver and other precious metals traded in international and domestic 
markets. all precious metals are initially recognised at cost and subsequently re-measured at their 
respective market prices at the balance sheet date. mark-to-market gains or losses related to 
precious metals are recognised in the income statement. 
the group receives all risks and rewards of ownership related to bullion deposited with the group as 
bullion deposits, including the right to freely pledge or transfer. the group records the gold bullion 
received as an asset. a liability reflecting the obligation to return gold bullion deposited is recorded at 
fair value with unrealized profit or loss recognised in the income statement. 
gold bullion and other precious metals sold subject to linked repurchase agreements are not derecognised 
and the related counter-party liability is recorded as due to banks, placements from 
banks and other financial institutions, or due to central banks, as appropriate. 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
15 
iii principal accounting policies and accounting estimates (continued) 
5 debt securities 
trade-date 
transactions involving debt securities are recognised on the trade-date, the date on which the group 
is committed to purchase or sell the asset. 
classification 
pursuant to caikuaihan [2004] no. 61 “response to issues concerning accounting treatment of 
debt securities” issued by the mof, the group classifies its debt securities into four categories: debt 
securities at fair value through profit or loss, loans and receivables, held-to-maturity and available-forsale. 
loans and receivables, held-to-maturity securities and available-for-sale securities are reported 
under “debt securities” in the balance sheet. all debt securities are initially measured and recognised 
at cost. 
(1) trading and other securities at fair value through profit or loss 
trading and other securities at fair value through profit or loss include (i) securities that are acquired 
for the purpose of generating profits from short-term price fluctuations, and (ii) securities that are 
irrevocably designated at the time of purchase as fair value through profit or loss. these securities 
are measured at their fair values at the balance sheet date and any unrealised gains or losses arising 
from changes in fair value are recognised in the income statement. 
(2) loans and receivables 
debt securities with fixed maturities and fixed or determinable payments, which are not quoted in an 
active market, are classified as loans and receivables. loans and receivables are carried at 
amortised cost using the effective interest method, less allowances for impairment losses. 
(3) held-to-maturity securities 
debt securities with fixed or determinable payments and fixed maturity that are traded in active 
markets and with respect to which the group’s management has both the positive intention and the 
ability to hold to maturity are classified as held-to-maturity. held-to-maturity securities are carried at 
amortised cost using the effective interest method, less allowances for impairment losses. 
(4) available-for-sale securities 
available-for-sale securities include securities that are either designated as such or are not classified 
in any of the other categories. 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. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
16 
iii principal accounting policies and accounting estimates (continued) 
5 debt securities (continued) 
impairment of debt securities 
the group assesses at each balance sheet date whether there is objective evidence that a debt 
security is impaired. a debt security is impaired, and impairment losses are recognised, if and only if, 
there is objective evidence of impairment as a result of one or more events that occurred after the 
initial recognition of the asset and that the loss event has an impact on the estimated future cash 
flows of the debt security that can be reliably estimated. impairment loss is measured as the 
difference between the security’s carrying amount or amortised cost, as appropriate to its 
classification, and the present value of its estimated future cash flows, and is charged through the 
income statement. objective evidence includes, among other things, significant financial difficulty of 
an issuer, a breach of contract such as default or delinquency or disappearance of an active market 
because of financial difficulties. 
if any such evidence of impairment exists for available-for-sale debt securities, the cumulative loss, 
measured as the difference between the acquisition cost (less payment of principal and amortisation) 
and the current fair value, less any impairment loss on that financial asset previously recognised in 
the income statement, is removed from equity and recognised in the income statement. 
if, in a subsequent period, the fair value of a debt security classified as available-for-sale increases 
and the increase can be objectively related to an event including improvement in debtor’s credit 
rating occurring after the impairment loss was recognised, the impairment loss is reversed through 
the income statement. 
6 derivative financial instruments 
a derivative is a financial instrument or other contract that meets the following criteria: 
- its value changes in response to the change in a specified interest rate, financial instrument price, 
commodity price, foreign exchange rate, index of prices or rates, credit rating or credit index, or 
other variable; 
- it requires no initial net investment or an initial net investment that is smaller than would be required 
for other types of contracts that would be expected to have a similar response to changes in those 
market factors; and 
- it is settled at a future date. 
derivatives are initially recognised at fair value on the date on which a derivative contract is entered 
into and are subsequently re-measured at their fair value. the gains or losses from the valuation of 
the financial instruments as a result of the fluctuation of their fair value are recorded in the income 
statement of the current period. derivatives with a positive fair value are reflected in the balance 
sheet as derivative financial instrument assets and those with a negative fair value as derivative 
financial instrument liabilities. 
the best evidence of the fair value of a derivative at initial recognition is the transaction price (i.e., the 
fair value of the consideration given or received) unless the fair value of that instrument is evidenced 
by comparison with other observable current market transactions in the same instrument (i.e., without 
modification or repackaging) or based on a valuation technique whose variables include only data 
from observable markets. when such evidence exists, the group recognises profits on day one. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
17 
iii principal accounting policies and accounting estimates (continued) 
6 derivative financial instruments (continued) 
certain derivatives embedded in other financial instruments, such as the conversion option in a 
convertible bond, are treated as separate derivatives when their economic characteristics and risks 
are not closely related to those of the host contract and the host contract is not carried at fair value 
through profit or loss. embedded derivatives are measured at fair value with changes in fair value 
recognised in the income statement. 
7 discounted bills and bills re-discounting 
discounted bills 
discounted bills are presented as “loans and advances to customers” at their face values, net of 
unamortised deferred revenue. deferred revenue, representing the difference between the amount 
of cash advanced and the face value, is accreted into interest income through the maturity date using 
the effective interest method. 
bills re-discounting 
the group transfers (or "re-discounts") trade bills to other banks and financial institutions. these 
trade bills are de-recognised when all risks and rewards have been transferred. when the criteria for 
de-recognition have not been met, the related transactions are accounted for as secured borrowings 
and an obligation is recorded as placements from banks and other financial institutions or due to 
central banks, as appropriate. 
8 loans and advances to customers 
loans originated by the group are initially recorded at the amount advanced, and are subsequently 
carried at amortised cost using the effective interest method in the balance sheet. 
loans originated by the group are classified as either accrual loans or non-accrual loans. when 
either the principal or the interest receivable relating to loans becomes overdue for more than 90 
days, such loans are classified as non-accrual loans and the accrual of interest ceases. all other 
loans are classified as accrual loans. when the group ceases to accrue interest on a loan, the 
outstanding amount of accrued interest receivable in respect of the loan is reversed through interest 
income. these amounts are then recorded in off-balance sheet memorandum accounts. 
subsequently, any cash receipts from the borrower are first used to reduce the principal balance and 
interest income is only recognised when the principal amount is fully repaid. non-accrual loans may 
be reinstated to accrual status when all past due principal and interest have been brought current and 
there is objective evidence that the borrower has the ability to make future principal and interest 
repayments as and when they fall due. 
the group de-recognises loans when substantially all of the risks and rewards of the underlying 
loans have been transferred to the purchasers of the loans without recourse. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
18 
iii principal accounting policies and accounting estimates (continued) 
9 allowance for loan losses and bad debt write-offs 
(1) allowance for loan losses 
the group assesses whether there is objective evidence that a loan or group of loans is impaired at 
each balance sheet date. the group assesses impairment individually on loans that are individually 
significant, and individually or collectively on those loans that are not individually significant. if the 
group determines that no objective evidence of impairment exists for an individually assessed loan, 
whether significant or not, it includes the loan in a portfolio of loans with similar credit risk 
characteristics and collectively assesses them for impairment. a loan or group of loans is impaired 
and impairment losses are incurred if there is objective evidence of impairment as a result of one or 
more events that occurred after the initial recognition of the loan and that event has an adverse 
impact on the estimated future cash flows of the loan or the group of loans that can be reliably 
estimated. the objective evidence that a loan or group of loans is impaired includes, but is not 
limited to, overdue payments of interest or principal and significant financial difficulties experienced 
by the borrower. 
if there is objective evidence that an impairment loss has been incurred, the amount of the loss is 
measured as the difference between the loan’s carrying amount and the present value of estimated 
future cash flows (excluding future credit losses that have not been incurred) discounted at the loan’s 
original contractual effective interest rate. the amount of the loss is recognised in the income 
statement. if a loan has a variable interest rate, the discount rate for measuring loan impairment loss 
is the current effective interest rate determined under the contract. 
the calculation of the present value of the estimated future cash flows of a collateralised loan reflects 
the cash flows that may result from foreclosure less costs for obtaining and selling the collateral. 
if, in a subsequent accounting period, the amount of the impairment loss decreases and the 
decrease can be related objectively to an event occurring after the impairment was recognised such 
as an improvement in the debtor’s credit rating, the previously recognised impairment loss is 
reversed by adjusting the allowance account. the amount of the reversal is recognised in the 
income statement. 
(2) loan write-offs 
when a loan is uncollectible, it is written off against the related allowances for loan impairment. such 
loans are written off after all the necessary approval procedures have been completed and the 
amount of the loss has been determined. subsequent recoveries of amounts previously written off 
are reversed through the allowances for loan impairment in the income statement. 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
19 
iii principal accounting policies and accounting estimates (continued) 
10 equity investments 
classification 
equity investments comprise investments in subsidiaries by the bank, investments in associates, 
investment in joint ventures, equity investments held for trading and other equity investments. 
(1) investment in subsidiaries 
subsidiaries are those entities in which the bank, directly or indirectly, controls more than 50% of the 
equity voting rights or has the ability to control the financial and operating policies of the entities so as 
to generate gains from their operating activities. investment in subsidiaries is accounted for by the 
bank using the equity method. 
the basis of consolidation of the subsidiaries’ financial statements is contained in note ii “basis of 
preparation and consolidation”. 
(2) investment in associates 
associates are entities over which the group has significant influence but not control, generally 
accompanying a shareholding of between 20% and 50% of the voting rights. investments in 
associates are accounted for using the equity method and are initially recognised at cost. the 
group’s investment in associates includes equity investment differences arising on acquisition, which 
will be amortised over a period of no more than 10 years. 
the group’s share of the post-acquisition profits or losses of associates is recognised in the income 
statement, and its share of post-acquisition movements in reserves is recognised in reserves. the 
cumulative post-acquisition movements in reserves are adjusted against the cost of the investment 
according to the group’s investment percentage. when the group’s share of losses in an associate 
equals to or exceeds its interest in the associate, the group does not recognise further losses unless 
the group has incurred obligations or made payments on behalf of the associates. 
unrealised gains on transactions between the group and its associates are eliminated to the extent 
of the group’s interest in the associates; unrealised losses are also eliminated unless the transaction 
provides evidence of an impairment of the asset transferred. accounting policies have been changed 
where necessary to ensure consistency with the policies adopted by the group. 
(3) investment in joint ventures 
joint ventures exist where the group has a contractual arrangement with one or more parties to 
undertake activities, which are subject to joint control. these activities typically, though not 
necessarily, are undertaken through separately established entities. investment in joint ventures is 
accounted for using the equity method of accounting and is initially recognised at cost. 
under the equity method of accounting, the attributable share of the investee’s post-acquisition net 
profit or loss for the period is recognised as an investment gains or losses and the carrying amount of 
the investment is adjusted accordingly. when the group’s share of losses in a joint venture equals or 
exceeds its interest in the joint venture, the group does not recognise further losses unless the 
group has incurred obligations or made payments on behalf of the joint venture. cash dividends 
declared by an investee are accounted for as a reduction in the carrying amount of the investment. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
20 
iii principal accounting policies and accounting estimates (continued) 
10 equity investments (continued) 
unrealised gains on transactions between the group and its joint ventures are eliminated to the 
extent of the group’s interest in the joint ventures; unrealised losses are also eliminated unless the 
transaction provides evidence of an impairment of the asset transferred. accounting policies have 
been changed where necessary to ensure consistency with the policies adopted by the group. 
(4) equity investments held for trading 
equity investments held for trading by the bank’s subsidiaries are measured at their fair value at the 
balance sheet date and any unrealised gains and losses arising from changes in fair value are 
recognised in the income statement. 
(5) other equity investments 
equity investments of the group other than those described in (1) to (4) above, are presented in the 
balance sheet at cost less impairment. 
impairment of equity investments 
the group assesses at each balance sheet date whether there is objective evidence that an equity 
investment is impaired. a significant or prolonged decline in the estimated recoverable amount of the 
equity investment below its cost is the principal evidence considered in determining whether the 
asset is impaired. if any such objective evidence exists, the difference between the carrying value 
and the recoverable amount is recognised in the income statement. if, in a subsequent period, the 
recoverable amount of an equity investment increases and the increase can be objectively related to 
an event occurring after the impairment loss was recognised, the impairment loss is reversed through 
the income statement. 
11 fixed assets and depreciation 
(1) buildings, land use rights, improvements, equipment and motor vehicles 
fixed assets include buildings, land use rights, improvements, equipment and motor vehicles used in 
the group’s operations which have useful lives of more than one year. buildings comprise principally 
branch and office premises. fixed assets are stated at historical cost less accumulated depreciation 
and impairment. historical cost includes expenditures that are directly attributable to the acquisition 
of the fixed assets. in connection with the joint stock reform plan, the bank revalued its assets and 
adjusted the book value of fixed assets, based on revaluation results approved by the mof. 
depreciation is calculated on the straight-line method to write down the cost of such assets to their 
estimated residual values over their estimated useful lives as follows: 
estimated useful lives 
buildings 15-50 years 
land use rights 10-70 years 
improvements shorter of economic useful life 
or remaining lease term 
equipment 3-15 years 
motor vehicles 4-6 years 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
21 
iii principal accounting policies and accounting estimates (continued) 
11 fixed assets and depreciation (continued) 
on each balance sheet date, the estimates of the residual amounts and the remaining useful lives of 
the fixed assets are reviewed and adjusted to reflect any change in estimate, for the purpose of 
calculating depreciation. 
subsequent costs are included in an asset’s carrying amount or are recognised as a separate asset, 
as appropriate, only when it is probable that future economic benefits associated with the item will 
flow to the group and the cost of the item can be measured reliably. all other repairs and 
maintenance costs are charged to the income statement during the financial period in which they are 
incurred. 
if the recoverable amount of a fixed asset is lower than its carrying amount, an impairment loss is 
recognised in the income statement, it is written down immediately to its recoverable amount. the 
recoverable amount of a fixed asset is the higher of the net proceeds from the disposal less costs to 
sell and estimated value in use. when an impairment allowance is made, the depreciation is 
calculated based on the adjusted book value and the remaining useful life of the asset. if the 
recoverable amount of a fixed asset becomes higher than its carrying amount, the impairment loss 
recognised in prior periods are reversed through the income statement, to the extent not exceeding 
the amount of impairment loss originally provided. 
when fixed assets are disposed of, the related proceeds, net of the carrying amounts of the related 
fixed assets and relevant taxes and expenses are recorded in non-operating income or expense. 
(2) aircraft 
aircraft are stated at cost less accumulated depreciation and any impairment loss. the cost of aircraft 
is stated net of manufacturers' credits. modifications, improvements and all other costs associated 
with maintaining the aircraft in a serviceable state are capitalised. 
aircraft are depreciated using the straight-line method over a period of 25 years being the expected 
useful life less the years of their service at the time of purchase to a 15% residual value. 
aircraft are periodically reviewed for impairment when events or changes in circumstances indicate 
that the carrying value may not be recoverable. 
gains and losses on disposal of the aircraft are determined by comparing proceeds with carrying 
amount, relevant taxes and expenses. these are included in the income statement. 
12 construction in progress 
construction in progress represents assets under construction or being installed and is stated at cost. 
cost includes equipment cost, cost of construction, installation and other direct costs. items 
classified as construction in progress are transferred to fixed assets when such assets are ready for 
their intended use, and the depreciation charge commences from the following month after such 
assets are transferred to fixed assets. 
impairment losses are recognised for idle projects with respect to which management has 
determined that resumption is not probable, including those projects that are subject to litigation. the 
impairment loss is equal to the extent to which the estimated recoverable amount of a specific project 
is less than its carrying amount. impairment losses are charged to the income statement. if the 
recoverable amount of construction in progress becomes higher than its carrying amount, the 
impairment loss recognised in prior periods are reversed through the income statement, to the extent 
not exceeding the amount of impairment loss originally provided. 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
22 
iii principal accounting policies and accounting estimates (continued) 
13 other assets 
(1) foreclosed assets 
foreclosed assets are recognised initially at a value equal to the collateralised amount of the related 
outstanding loan principal plus the accrued interest. subsequently, foreclosed assets are presented 
in the balance sheet at their initial recognition amount less impairment. 
the maintenance costs of foreclosed assets are recorded as non-operating expense as incurred. 
expenses incurred in the disposal of the foreclosed assets are netted off against the proceeds of 
disposal. 
the group periodically reviews foreclosed assets for objective evidence of impairment. a foreclosed 
asset is considered to be impaired when its estimated net realisable value is lower than its carrying 
value. the impairment loss, being the difference between the anticipated net realisable value and 
the carrying amount, is charged to the income statement. 
(2) intangible assets 
other intangible assets principally comprise options and firm orders for aircraft and computer 
software. intangible assets are stated at cost less accumulated amortisation and impairment. options 
and firm orders for aircraft which arose from the acquisition of a subsidiary are initially recorded at fair 
value at the date of acquisition. the value of such options and firm orders, which are not amortized, 
will be added to the cost of aircraft when the related aircraft are purchased. other intangible assets 
are amortised on a straight-line basis from the month of acquisition over the shorter of their effective 
beneficial lives or estimated useful period and is recognised in the income statement. 
when the estimated recoverable amount of a specific intangible asset is lower than its carrying 
amount as a result of the progress of new technology, an impairment loss is recognised in the income 
statement. if the recoverable amount of an intangible asset becomes higher than its carrying 
amount, the impairment loss recognised in prior periods are reversed through the income statement, 
to the extent of any impairment loss previously recognised. 
(3) debt-for-equity swaps 
debt-for-equity swaps are equity investments of domestic operations acquired through the debt-forequity 
swap schemes and are managed by china orient asset management corporation. pursuant 
to caibanjin [2001] no. 198 “decisions on issues relating to the accounting treatment of debt-forequity 
swaps” and caijinhan [2002] no. 6 “letter concerning the treatment of debt-for-equity swaps 
of banks” issued by the mof, debt-for-equity swaps are initially recognised at amounts equivalent to 
the outstanding principal balance plus accrued interest of the related loan. overdue interest of the 
loan recorded in the memorandum account is only recognised as income in the income statement on 
a cash received basis. debt-for-equity swaps are presented in the balance sheet at original cost less 
impairment and are included in “other assets”, with impairment losses included in the income 
statement. 
(4) long-term prepaid expenses 
long-term prepaid expenses comprise principally prepaid rentals of which the beneficial period is 
more than one year and other deferred expenses with an amortisation period of more than one year. 
prepaid rentals are amortised over the respective lease periods on a straight line basis. other longterm 
prepaid expenses are amortised on a straight-line basis over the effective benefit period. 
when there is evidence that the group will no longer realize economic benefits from long-term 
prepaid expenses, the unamortised amount is charged to the income statement immediately. 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
23 
iii principal accounting policies and accounting estimates (continued) 
13 other assets (continued) 
(5) other receivables and advances 
the group carries out a regular assessment and analysis of the recoverability of other receivables 
and advances. when the estimated recoverable amount of other receivables and advances is lower 
than the carrying amount, an allowance for impairment is recorded in the income statement. 
14 repurchase agreements, agreements to re-sell and securities lending 
agreements to re-sell (“reverse repos”) refer to debt securities, bills purchased from a counter-party 
with a related obligation to re-sell to the counter-party at a pre-determined price on a specified future 
date under a resale agreement. reverse repos are initially recorded in the balance sheet under “due 
from and placements with banks and other financial institutions” at the actual amount paid to counterparties. 
the assets purchased under the resale agreements are treated as collateral, and not 
recorded in the balance sheet. 
repurchase agreements (“repos”) refer to debt securities and bills sold to a counter-party with a 
related obligation to repurchase them at a pre-determined price on a specified future date under a 
repurchase agreement. repos are initially recorded in the balance sheet under “due to and 
placements from banks and other financial institutions” or “due to central banks” at the actual 
amounts received from the counter-parties. the assets sold subject to repurchase agreements are 
not derecognised and are recorded on the balance sheet as “debt securities” and “loans and 
advances to customers” . 
the differences in prices for purchases and sales are recognised as interest income or expense in 
the income statement using the effective interest method. 
securities lending transactions are generally secured, with collateral taking the form of securities or 
cash advanced or received. securities lent to counterparties are retained in the financial statements. 
cash collateral advanced or received is recorded as an asset or a liability respectively. 
15 borrowings 
borrowings mainly include special purpose borrowings and bonds issued. 
borrowings are recognised initially at fair value, being their issue proceeds (fair value of 
consideration received), net of transaction costs incurred. borrowings are subsequently stated at 
amortised cost; any difference between proceeds, net of transaction costs, and the redemption value 
is recognised in the income statement over the period of the borrowings using the effective interest 
method. 
if the group purchases its own debt, it is de-recognised from the balance sheet, and the difference 
between the carrying amount of a liability and the consideration paid is included in the income 
statement. 
16 provisions 
provisions are recognised when the group has a present legal or constructive obligation as a result 
of past events, it is probable that an outflow of resources embodying economic benefits will be 
required to settle the obligation, and a reliable estimate of the amount of the obligation can be made. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
24 
iii principal accounting policies and accounting estimates (continued) 
17 staff welfare benefits 
(1) defined contribution plans 
in accordance with the policies of relevant state and local governments, domestic employees 
participate in various defined contribution retirement schemes managed by local labour and social 
security bureaus. domestic operations contribute to pension and insurance schemes administered 
by the local pension and insurance agencies using applicable contribution rates of the pension and 
insurance schemes stipulated in the relevant local regulations. upon retirement, the local labour and 
social security bureaus are responsible for the payment of the basic retirement benefits to the retired 
employees. in addition to these basic staff pension schemes, domestic employees also voluntarily 
participate in a contribution retirement benefit program established by the bank in 2005 in 
accordance with the relevant government policy on corporate annuity plan (the “annuity plan”). the 
bank contributes to the annuity plan based on certain percentage of the employees’ gross salaries. 
all eligible employees in overseas operations participate in local defined contribution schemes. 
overseas operations contribute to these defined contribution plans based on a certain percentage of 
the employees' basic salaries. 
contributions made by the group to defined contribution plans are recorded as an expense in the 
income statement as incurred. the group has no further legal obligation to pay additional pensions 
even if the pension plans/funds (including the annuity plan) in which the group’s employees 
participate are not sufficient to provide all benefits that the employees are entitled to for the services 
they have provided in the current period or previous periods. 
forfeited contributions by those employees who leave the scheme prior to the full vesting of their 
contributions are used to reduce the existing level of contribution or the expense of the scheme, or 
retained in the annuity plan according to the defined contribution plans in each jurisdiction. 
(2) defined benefit plans 
following the bank’s conversion into a joint stock company and in accordance with relevant prc 
government policies, the supplemental retirement obligations of the bank, which include 
supplemental pension payments and medical insurance to employees who retired on or before 31 
december 2003 are calculated annually by actuaries employed by the bank using the projected unit 
credit method and recorded as a liability under “other liabilities” in the balance sheet. the present 
value of the liability is determined through estimated future cash outflows using interest rates of rmb 
treasury bills which have terms to maturity approximating the terms of the related liability. actuarial 
gains and losses, changes in actuarial assumptions and amendments to pension plans are charged 
or credited to the consolidated income statement immediately as they occur. past-service costs are 
recognised immediately in the income statement. 
(3) early retirement benefits 
early retirement benefits are paid to those employees who accept voluntary redundancy 
arrangements and retire before the normal retirement dates as approved by the bank. these 
benefits include payment to early retirement pension, social welfare benefits, medical benefits and 
contributions to the annuity plan covering the period from the date of the early retirement of these 
employees to the date of their respective official retirement age. the early retirement benefit 
payments are recorded in the income statement on cash basis. 
early retired employees are also entitled to basic government pension benefit and make withdrawals 
from the annuity plan when they reach the age of retirement regulated by the government. 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
25 
iii principal accounting policies and accounting estimates (continued) 
17 staff welfare benefits (continued) 
(4) housing funds 
pursuant to local government regulations, all domestic employees participate in various local housing 
funds administered by local governments. domestic operations contribute on a monthly basis to 
these funds based on certain percentages of the salaries of the employees. these payments are 
expensed as incurred. 
(5) share-based compensation 
(i) equity settled share-based compensation schemes 
the group operates a number of equity-settled share-based compensation schemes. the fair value 
of the employee services received in exchange for the grant of the options under these schemes is 
recognized as an expense over the vesting period, with a corresponding increase in equity. the total 
amount to be expensed over the vesting period is determined by reference to the fair value of the 
options granted, excluding the impact of any non-market vesting conditions. the fair value of the 
equity instruments is measured at grant date, and is not subsequently re-measured. non-market 
vesting conditions are included in assumptions about the number of options that are expected to 
become exercisable. at each balance sheet date, the entity revises its estimates of the number of 
options that are expected to become exercisable. it recognizes the impact of the revision of original 
estimates, if any, in the income statement, with a corresponding adjustment to equity over the 
remaining vesting period. 
the proceeds received net of any directly attributable transaction costs are credited to share capital 
(nominal value) and share premium when the options are exercised. 
(ii) cash settled share-based compensation schemes 
the bank also operates a cash-settled, share appreciation rights plan. the related cost of services 
received from the employees and the liability to pay for such services are measured at fair value and 
recognized over the vesting period as the employees render services. fair value is established at the 
grant date and until the liability is settled, the fair value is re-measured at each reporting date with 
any changes in fair value recognized in profit or loss for the period. fair value is determined by using 
an appropriate valuation model. 
the total amount to be expensed over the vesting period is determined by reference to the fair value 
of the rights granted, excluding the impact of any non-market vesting conditions. non-market 
conditions are included in the assumptions about the number of rights that are expected to vest. at 
each balance sheet date, the entity revises its estimates of the number of rights that are expected to 
vest. it recognizes the impact of the revision to original estimates, if any, in the income statement, 
with a corresponding adjustment to liability. 
(6) bonus plans 
the group recognises a liability and an expense for bonuses, taking into consideration business 
performance and profit attributable to the bank’s equity-holders. the group recognises a provision 
where contractually obliged or where there is a past practice that has created a constructive 
obligation. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
26 
iii principal accounting policies and accounting estimates (continued) 
18 share capital 
(1) share issue costs 
incremental costs directly attributable to the issue of new ordinary shares are shown in equity as a 
deduction, net of tax from the proceeds. 
(2) dividends 
dividends on ordinary shares are recognised in equity in the period in which they are approved by 
the bank's board of directors, and recognised in liabilities after they are approved by the annual 
general meetings. dividends that are declared after the balance sheet date are addressed in the 
subsequent event note to the financial statements. 
(3) treasury share 
where the bank or other members of the group purchase the bank’s ordinary shares, the treasury 
shares are recorded at the amount of consideration paid and deducted from total shareholders’ equity 
until they are cancelled, sold or reissued. where such shares are subsequently sold or reissued, any 
consideration received is included in shareholders’ equity. 
19 interest income and interest expense 
interest income and interest expense are recognised in the income statement using the effective 
interest method except in the case of non-accrual loans, where interest is credited to off-balance 
sheet memorandum account. 
the effective interest method is a method of calculating the amortised cost of a financial asset or a 
financial liability and of allocating the interest income or interest expense over the relevant period. 
the effective interest rate is the rate that exactly discounts estimated future cash payments or 
receipts through the expected life of the financial instrument or, when appropriate, a shorter period to 
the net carrying amount of the financial asset or financial liability. the group estimates cash flows 
considering all contractual terms of the financial instrument but does not consider future credit losses. 
the calculation includes all amounts paid or received by the group that are an integral part of the 
effective interest rate, including transaction costs and all other premiums or discounts. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
27 
iii principal accounting policies and accounting estimates (continued) 
20 fee and commission income 
fees and commissions are recognised on an accrual basis when the related service has been 
provided. 
loan commitment fees for loan that are likely to be drawn down are deferred (together with related 
direct costs) and recognised as an adjustment to the effective interest rate on the loan. loan 
syndication fees are recognised as revenue when the related syndication arrangement has been 
completed and the group has retained no part of the loan package for itself or has retained a part at 
the same effective interest rate as that of other participants. 
commission and fees arising from negotiating, or participating in the negotiation of, a transaction for 
a third party, such as the arrangement of the acquisition of shares or other securities or the purchase 
or sale of businesses, are generally recognised on completion of the underlying transaction. 
portfolio and other management advisory service fees are recognised based on the applicable 
service contracts, usually on a time proportionate basis. fund management fees and custodian 
service fees are recognised when the service is provided. 
21 leases 
(1) operating leases 
leases in which a significant portion of the risks and rewards of ownership are retained by the lessor 
are classified as operating leases. as a lessee, the total payments made under operating leases (net 
of any incentives received from the lessor) which include land use rights with payments that are 
separately identifiable at inception of the lease are charged to the income statement on a straight-line 
basis over the period of the lease. 
when an operating lease is terminated before the lease period has expired, any payment required to 
be made to the lessor by way of penalty is recognised as an expense in the period in which 
termination takes place. 
where the group is the lessor, the assets subject to the operating lease are accounted for as fixed 
assets. rental income from operating leases is recognised on a straight-line basis over the lease 
term. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
28 
iii principal accounting policies and accounting estimates (continued) 
21 leases (continued) 
(2) finance lease 
leases of assets where the group has substantially all the risks and rewards of ownership are 
classified as finance lease. finance lease are capitalised at the present value of the minimum lease 
payments at the inception of the lease team. lease payments are apportioned between the finance 
charges and reduction of the lease liability so as to achieve a constant rate of interest on the 
remaining balance of the liability. finance charges are charged directly against the income statement. 
when assets are leased out under a finance lease, the present value of the lease payments is 
recognised as a receivable. the difference between the gross receivables and the present value of 
the receivables is recognised as unearned finance income. 
lease income is recognised over the term of the lease using the net investment method, which 
reflects a constant periodic rate of return. 
22 taxation and accounting treatment for income tax 
(1) taxation 
income tax applicable to the group’s domestic operations is provided for at 33% and income tax of 
the group’s overseas operations is calculated subject to the relevant local tax regulations and tax 
rates. pursuant to “provisional regulation for the income tax of overseas income (revised)” issued 
by the mof and national tax bureau, overseas subsidiaries and profits remitted from overseas 
branches are taxed in china at a fixed rate of 16.5%. other taxes principally relate to business tax 
levied at 5% of the revenue from domestic operation’s financial services activities. the revenue from 
financial services activities which is subject to business tax mainly includes interest income from 
loans, gains and losses from disposal of financial instruments, fees and commissions and other 
income from financial services activities. 
(2) accounting treatment for income tax 
the group accounts for its income tax using the deferred tax method. deferred income tax is 
provided in full, using the liability method, on timing differences. timing differences are 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 principal timing differences arise from loan loss 
provisions, impairment allowance for other assets, fair value change of trading securities and 
derivative financial instruments and fixed asset depreciation. the tax impact of the timing differences 
are accounted for using the tax rate currently applicable to the group. 
deferred tax assets are recognised to the extent that it is probable that future taxable profit will be 
available against which the timing differences can be utilised. 
deferred income tax is provided on timing differences arising from investments in subsidiaries and 
associates, except where the timing of the reversal of the timing differences can be controlled and it 
is probable that the difference will not reverse in the foreseeable future. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
29 
iii principal accounting policies and accounting estimates (continued) 
23 fiduciary activities 
the group commonly acts as a custodian, trustee or in other fiduciary capacities, that result in its 
holding or placing of assets on behalf of securities investment funds, social security funds, insurance 
companies, qualified foreign institutional investors, annuity schemes and other institutions. these 
assets are excluded from these financial statements, as they are not assets of the group. 
the group also administers entrusted loans on behalf of third-party lenders. in this regard, the group 
grants loans to borrowers, as an intermediary, at the direction of third-party lenders, who fund these 
loans. the group has been contracted by these third-party lenders to manage the administration and 
collection of these loans on their behalf. the third-party lenders determine both the underwriting 
criteria for and all terms of the entrusted loans, including their purpose, amounts, interest rates, and 
repayment schedule. the group charges a commission related to its activities in connection with the 
entrusted loans, but the risk of loss is borne by the third-party lenders. entrusted loans are not 
recognised in the financial statements of the group. 
24 acceptances 
acceptances comprise undertakings by the group to pay bills of exchange drawn on customers. the 
group expects most acceptances to be settled simultaneously with the reimbursement from the 
customers. acceptances are accounted for as off-balance sheet transactions and are disclosed as 
contingent liabilities and commitments. 
25 contingent liabilities 
a contingent liability is a possible obligation that arises from past events and whose existence will 
only be confirmed by the occurrence or non-occurrence of one or more uncertain future events not 
wholly within the control of the group. it can also be a present obligation arising from past events 
that is not recognised because it is not probable that an outflow of economic resources will be 
required or the amount of the outflow of economic resources cannot be measured reliably. 
a contingent liability is not recognised as a provision but is disclosed in the notes to the financial 
statements. when a change in the probability of an outflow occurs so that outflow is probable, it will 
then be recognised as a provision (note iii. 16, “provisions”). 
26 offsetting financial instruments 
financial assets and liabilities are offset and the net amount reported in the balance sheet when 
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle 
on a net basis, or realise the asset and settle the liability simultaneously. 
27 reclassification 
certain items in the comparative period have been reclassified to be consistent with the presentation 
of the current year financial statements. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
30 
iv subsidiaries 
as at 31 december 2006, all the principal subsidiaries set out below are consolidated. all holdings 
are in the ordinary share capital of the undertaking concerned. the table below sets out the paid up 
capital of and the effective equity investment in the bank’s directly and indirectly controlled 
subsidiaries. 
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 investment holding 
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 
singapore aircraft leasing enterprise 
pte. limited (4) 
singapore 100.00 usd308 aircraft leasing 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
31 
iv subsidiaries (continued) 
(1) listed on the stock exchange of hong kong limited. 
(2) bank of china (hong kong) limited holds 70.49% of the voting 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. 
(4) on 15 december 2006, the group acquired 100% of the share capital of singapore aircraft leasing 
enterprise pte. ltd (‘sale’) (see notes v.41) through its wholly owned subsidiary in hong kong, the 
consideration paid is usd 978 million. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
32 
v notes to the consolidated financial statements 
1 due from central banks 
31 december 2006 31 december 2005 
settlement account balances with the pboc 95,914 89,124 
due from overseas central banks 5,862 25,787 
sub-total (1) 101,776 114,911 
rmb statutory deposit reserve with the pboc 254,381 182,825 
foreign currency statutory deposit reserve with the 
pboc 17,913 13,595 
fiscal deposits with the pboc 3,331 3,355 
statutory deposit reserve with overseas central banks 2,230 2,255 
sub-total (2) 277,855 202,030 
total 379,631 316,941 
(1) as at 31 december 2006, due from central banks included in “cash and cash equivalents” 
amounted to rmb 101,776 million (2005: rmb 108,149 million). refer to note v.40. 
(2) 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 31 december 2006, the required 
reserve ratio for customer deposits denominated in rmb is 9% (2005: 7.5%); the required reserve 
ratio for customer deposits denominated in foreign currencies is 4% (2005: 3%). the fiscal deposit of 
domestic operations comprises 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. 
the mandatory reserve funds are not available for use in the group's day to day operations. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
33 
v notes to the consolidated financial statements (continued) 
2 trading and other debt securities at fair value through profit or loss 
31 december 2006 31 december 2005 
trading 
government 17,802 19,116 
public sector and quasi-government 1,032 2,095 
financial institution 22,644 30,599 
corporate 4,204 4,179 
sub-total 45,682 55,989 
other debt securities at fair value through profit or loss 
(designated at initial recognition) 
government 20,444 10,704 
public sector and quasi-government 8,559 12,974 
financial institution 30,225 19,979 
corporate 5,724 7,625 
sub-total 64,952 51,282 
total 110,634 107,271 
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. the group designated such debt securities at fair value through profit or loss at initial 
recognition. 
3 derivative financial instruments 
the group enters into the following foreign currency exchange rate or interest rate related derivative 
financial instruments for trading, asset and liability management and on behalf of customers: 
currency forwards represent commitments to purchase and sell foreign currency on a future date. 
foreign currency and interest rate futures are contractual obligations to receive or pay a net amount 
based on changes in currency rates or interest rates or buy or sell a foreign currency or interest rate 
financial instrument on a future date at an agreed price in the financial market under the 
administration of the stock exchanges. forward rate agreements are individually negotiated interest 
rate futures that call for a cash settlement at a future date for the difference between a contracted 
rate of interest and the current market rate, based on a notional principal amount. 
currency and interest rate swaps are commitments to exchange one set of cash flows for another. 
swaps result in an exchange of currencies or interest rates (for example, fixed rate for floating rate) 
or a combination of all these (i.e. cross-currency interest rate swaps). except for certain currency 
swaps contracts, no exchange of principal takes place. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
34 
v notes to the consolidated financial statements (continued) 
3 derivative financial instruments (continued) 
foreign currency and interest rate options are contractual agreements under which the seller (writer) 
grants the purchaser (holder) the right , but not the obligation, either to buy (a call option) or sell (a 
put option) at or by a set date or during a set period, a specific amount of a foreign currency or a 
financial instrument at a predetermined price. in consideration for the assumption of foreign 
exchange or interest rate risk, the seller receives a premium from the purchaser. options may be 
either negotiated over-the-counter (“otc”) between the group and its counterparty or exchangetraded. 
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 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 favorable (assets) or unfavorable (liabilities) as a result of fluctuations in market foreign 
exchange rate, market 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 currency 
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. 
at 31 december 2006 
contractual / 
notional amount fair values 
assets liabilities 
exchange rate derivatives 
currency forwards and swaps (1) 993,008 11,860 (4,974) 
currency options purchased (2) 187,446 5,735 - 
currency options written 38,272 - (419) 
sub-total 17,595 (5,393) 
interest rate derivatives 
interest rate swaps 369,093 4,236 (4,832) 
cross-currency interest rate swaps 34,793 1,532 (2,932) 
interest rate options purchased 41,151 592 - 
interest rate options written 48,939 - (161) 
interest rate futures 14,675 40 (9) 
sub-total 6,400 (7,934) 
equity derivatives 10,572 453 (390) 
precious metal derivatives 10,520 389 (606) 
total derivative financial instrument 
assets/(liabilities) (note v.15) 24,837 (14,323) 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
35 
v notes to the consolidated financial statements (continued) 
3 derivative financial instruments (continued) 
at 31 december 2005 
contractual / 
notional amount fair values 
assets liabilities 
exchange rate derivatives 
currency forwards and swaps (1) 563,397 6,991 (4,813) 
currency options purchased (2) 176,643 3,781 - 
currency options written 19,369 - (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) 
interest rate options purchased 11,584 148 - 
interest rate options written 98,994 - (215) 
interest rate futures 14,939 28 (34) 
sub-total 5,043 (9,626) 
equity derivatives 15,442 14 (7) 
precious metal derivatives 21,008 979 (932) 
total derivative financial instrument 
assets/(liabilities) (note v.15) 16,808 
(15,752) 
(1) since 2005, the bank has entered into foreign exchange swap transactions with the pboc to 
manage its assets and liabilities. 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 or three years at agreed 
exchange and swap 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 huijin to 
economically hedge a portion of its net on-balance sheet foreign currency position, whereby the bank 
acquired options to sell to huijin usd, totalling usd 18 billion (rmb 140,557 million), 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 of 
rmb 4,469 million, 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. as at 31 december 2006, the fair 
value of these contracts amounted to rmb 5.18 billion (2005: rmb 3.23 billion). 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
36 
v notes to the consolidated financial statements (continued) 
4 due from and placements with banks and other financial institutions 
31 december 2006 31 december 2005 
due from banks and other financial institutions 
due from domestic banks and other financial 
institutions 1,581 4,305 
due from overseas banks and other financial 
institutions 7,121 8,133 
sub-total 8,702 12,438 
placements with banks and other financial institutions (1) 
placements with domestic banks 33,567 52,439 
placements with other domestic financial 
institutions 21,579 26,302 
placements with overseas banks and other 
financial institutions 344,491 253,904 
399,637 332,645 
allowance for impairment losses (499) (546) 
sub-total 399,138 332,099 
total (2) 407,840 344,537 
(1) as at 31 december 2006, placements with banks and other financial institutions reported on nonaccrual 
basis were rmb 499 million (2005: rmb 546 million). 
placements with banks and other financial institutions include balances arising from reverse repo 
agreements as follows: 
31 december 2006 31 december 2005 
bills under reverse repos 8,165 7,592 
bonds under reverse repos 
government 22,069 41,857 
financial institution 46,378 20,191 
total 76,612 69,640 
(2) as at 31 december 2006, due from and placements with banks and other financial institutions 
included in “cash and cash equivalents” amounted to rmb 313,313 million (2005: rmb 244,744 
million). refer to note v. 40. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
37 
v notes to the consolidated financial statements (continued) 
5 debt securities 
31 december 2006 31 december 2005 
debt securities available-for-sale (at fair value): 
government 297,129 229,064 
public sector and quasi-government 152,822 106,840 
financial institution 230,999 170,038 
corporate 126,358 87,068 
sub-total 807,308 593,010 
debt securities held-to-maturity (at amortised cost): 
government 146,502 231,156 
public sector and quasi government 97,025 135,002 
financial institution 172,666 203,724 
corporate 44,947 37,577 
sub-total 461,140 607,459 
debt securities classified as loans and receivables 
(at amortised cost): 
china orient bond (1) 160,000 160,000 
pboc - special bills (2) 91,612 91,530 
- target bills (3) 28,702 - 
special purpose treasury bond (4) 42,500 42,500 
long term notes 
- financial institution 14,545 1,545 
short term bills and notes (5) 
- public sector and quasi government 3,895 6,096 
- financial institution 139,659 49,993 
- corporate 6,623 - 
certificate treasury bonds and others 12,952 10,343 
500,488 362,007 
allowance for impairment losses (152) (156) 
sub-total 500,336 361,851 
total (6) 1,768,784 1,562,320 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
38 
v notes to the consolidated financial statements (continued) 
5 debt securities (continued) 
(1) the bank transferred certain non-performing assets to china orient asset management corporation 
(“china orient”) in 1999 and 2000. on 1 july 2000, china orient issued a ten-year bond of par value 
of rmb 160,000 million to the bank as consideration. the interest rate of the bonds is 2.25% per 
annum. pursuant to caijin [2004] no. 87 “notice of the mof regarding relevant issues relating to 
the principal and interest of debt securities of financial asset management companies held by 
bank of china and china construction bank”, from 1 january 2005, should china orient fail to pay in 
full the interest on the debt securities or repay the principal in full according to the contractual terms 
to the bank, the mof shall provide funding support to enable china orient to fulfill its obligations. 
(2) on 30 june 2004, the pboc issued a special bill with a par value of rmb 18,100 million in 
exchange for certain policy-related assets of the bank. the tenor of the bill is 3 years, with an interest 
rate of 1.89% per annum. the bank has also been appointed as an agent to collect the policyrelated 
assets. 
on 30 june 2004, the bank sold a portfolio of non-performing loans to china cinda asset 
management corporation (“cinda”) to subscribe for a special pboc bill amounting to rmb 73,430 
million, with a tenor of 5 years and an interest rate of 1.89% per annum. 
on 22 june 2006, the pboc issued a special bill 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. 
without the approval of the pboc, the special pboc bills referred to above are non-transferable 
and may not be used as collateral for borrowings. the pboc has the option to settle these bills in 
whole or in part before their maturity. 
(3) on 16 may and 13 july 2006, the bank invested in pboc bills for commercial banks, with a par value 
of rmb 8,000 million and rmb 21,000 million, respectively. the bills have tenor of 1 year with an 
interest rate of 2.11% per annum. 
without the approval of the pboc, the target pboc bills referred to above are non-transferable and 
may not be used as collateral for borrowings. 
(4) on 18 august 1998, the mof issued a special purpose treasury bond with a par value of rmb 
42,500 million to the bank. this bond has a tenor of 30 years and an interest rate of 7.2% effective 
from the date of issuance to 30 november 2004. until 30 november 2004, the interest income related 
to this bond was netted against an expense of an equivalent amount charged by the prc 
government pursuant to relevant regulations. these amounts were not recorded in the income 
statement. in accordance with ren da chang hui zi [2004] no. 25 “resolution of the standing 
committee of the national people’s congress on the approval of the report of the state council on 
the payment of interest on the special purpose treasury bond of 1998”, the annual interest rate of 
the bond was adjusted to 2.25%, and from 1 december 2004, the mof will pay interest on the bond 
at 2.25% per annum to the bank and there will be no offsetting expense. 
(5) as at 31 december 2006, short term bills and notes included in “cash and cash equivalents” 
amounted to rmb 73,745 million (2005: rmb 15,575 million). refer to note v.40. 
(6) as at 31 december 2006, debt securities of rmb 55,212 million (2005: rmb 49,658 million) were 
pledged as collateral to third parties under agreements to repurchase. refer to note xi.2. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
39 
v notes to the consolidated financial statements (continued) 
5 debt securities (continued) 
(7) movements of available-for-sale and held-to-maturity debt securities 
available-for-sale held-to-maturity total 
at 1 january 2006 593,010 607,459 1,200,469 
additions 819,924 308,947 1,128,871 
sales and redemptions (598,848) (449,771) (1,048,619) 
accretion 4,360 2,918 7,278 
fair value changes (2,153) - (2,153) 
exchange differences (8,985) (8,413) (17,398) 
at 31 december 2006 807,308 461,140 1,268,448 
available-for-sale held-to-maturity total 
at 1 january 2005 346,532 457,994 804,526 
additions 925,993 515,344 1,441,337 
sales and redemptions (661,053) (356,715) (1,017,768) 
(amortisation)/ accretion, net (634) 1,412 778 
fair value changes 155 - 155 
exchange differences (17,983) (10,590) (28,573) 
others - 14 14 
at 31 december 2005 593,010 607,459 1,200,469 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
40 
v 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: 
31 december 2006 31 december 2005 
unsecured loans 536,080 475,764 
guaranteed loans 731,759 684,824 
collateralised and other secured loans 1,163,967 1,074,458 
total 2,431,806 2,235,046 
(2) analysed by industry sector 
31 december 2006 31 december 2005 
corporate loans 
manufacturing 602,865 531,191 
commercial and servicing 301,254 301,863 
energy, mining and agriculture 260,706 230,854 
real estate 217,960 190,297 
transportation and logistics 211,786 193,428 
public services 106,141 91,924 
financial services 72,909 96,245 
construction 38,897 36,050 
others 36,544 40,191 
sub-total 1,849,062 1,712,043 
consumer loans 
mortgages loans 456,930 413,007 
vehicle loans 26,315 28,005 
credit card and others 99,499 81,991 
sub-total 582,744 523,003 
total 2,431,806 2,235,046 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
41 
v notes to the consolidated financial statements (continued) 
6 loans and advances to customers (continued) 
(3) accrual and non-accrual loans 
31 december 2006 31 december 2005 
accrual loans 2,354,814 2,158,232 
non-accrual loans 76,992 76,814 
total 2,431,806 2,235,046 
(4) as at 31 december 2006, there were no bills pledged as collateral under repurchase agreements 
(2005: rmb 11,968 million). refer to note xi.2. 
7 allowance for impairment losses 
2006 2005 
at 1 january 83,153 74,769 
additions (note v. 37) 11,687 10,888 
recoveries 3,589 2,954 
write-off and disposals (3,684) (4,783) 
exchange differences (452) (675) 
at 31 december 94,293 83,153 
8 interest receivable 
the group’s interest receivable principally includes interest receivable on loans and debt securities. 
the aging of interest receivable on loans is within 90 days. at 31 december 2006, there is no 
interest receivable overdue on debt securities. 
9 equity investments 
31 december 2006 31 december 2005 
investment in associates/joint ventures (1) 6,280 5,100 
other equity investments (2) 6,279 7,043 
12,559 12,143 
less: allowance for impairment losses (1,348) (1,243) 
11,211 10,900 
equity investments held for trading (at fair value) (3) 5,194 4,493 
equity investment differences (note v. 41) 1,875 - 
total 18,280 15,393 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
42 
v notes to the consolidated financial statements (continued) 
9 equity investments (continued) 
(1) investment in associates/joint ventures 
2006 2005 
at 1 january 5,100 1,283 
increase in investment in associates/joint ventures 
- investment cost 924 1,183 
- equity investment differences - 364 
transfer from other equity investments 
- investment cost - 556 
- adoption of equity accounting for investment in an 
associate - 2,194 
disposal of investment in associates/joint ventures (59) (510) 
share of results after tax (note vi 33) 666 175 
dividends received (134) (116) 
amortisation of equity investment differences 
(note v.33) (34) (9) 
exchange differences (183) (20) 
at 31 december 6,280 5,100 
less: allowance for impairment losses (390) (48) 
net book value at 31 december 5,890 5,052 
on 22 september 2005, the group entered into an equity purchase and sale contract with an 
independent third party and acquired a further 5% equity shares of huaneng international power 
development corporation. as a result, the group held 20% of the equity of huaneng international 
power development corporation and accounted for the investment using the equity method. the 
investment in huaneng international power development corporation was reclassified from “other 
equity investments” to “investment in associates/joint ventures”. the cumulative impact resulting from 
the adoption of the equity method of rmb 2,194 million representing the post acquisition share of net 
profits, had been credited into undistributed profits in 2005. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
43 
v notes to the consolidated financial statements (continued) 
9 equity investments (continued) 
(1) investment in associates/joint ventures (continued) 
as at 31 december 2006, the principal associates/joint ventures of the group are as follows: 
place of 
incorporation / 
establishment 
equity 
held 
(%) 
paid-in 
capital 
(in millions) principal business 
huaneng international power 
development corporation 
china 20 usd450 power plant operations 
boc international (china) 
limited 
china 49 rmb1,500 security 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 limited 
china 50 rmb500 car loan and financing 
services 
(2) other equity investments 
2006 2005 
at 1 january 7,043 8,665 
additions 1,443 1,640 
transferred out - (556) 
disposal (2,207) (2,706) 
at 31 december 6,279 7,043 
less: allowance for impairment losses (958) (1,195) 
net book value at 31 december 5,321 5,848 
other equity investments mainly include equity investments held for investment purpose by the 
bank’s subsidiaries in hong kong. in december 2005, the bank entered into a contract with china 
orient to dispose its historical non-banking equity investments. 
(3) equity investments held for trading principally comprise listed shares held by the bank’s subsidiaries 
in hong kong. 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
44 
v notes to the consolidated financial statements (continued) 
10 fixed assets 
buildings 
(including 
land use 
rights) improvements equipment 
motor 
vehicles aircraft total 
cost 
at 1 january 2006 80,156 3,845 20,127 2,300 - 106,428 
additions 212 359 2,543 341 330 3,785 
acquisition of a subsidiary - - - - 20,209 20,209 
transfer from construction 
in progress 1,627 340 240 - 
- 2,207 
disposals/write-offs (2,037) (802) (916) (278) - (4,033) 
currency translation 
differences (628) (16) (147) (2) 
33 (760) 
at 31 december 2006 79,330 3,726 21,847 2,361 20,572 127,836 
accumulated depreciation 
at 1 january 2006 (15,014) (2,221) (13,059) (1,660) - (31,954) 
charge for the year (2,160) (563) (2,659) (238) (34) (5,654) 
disposals/write-offs 872 1,071 699 262 - 2,904 
currency translation 
differences 74 4 91 1 
- 170 
at 31 december 2006 (16,228) (1,709) (14,928) (1,635) (34) (34,534) 
impairment allowance 
at 1 january 2006 (1,494) - - (2) - (1,496) 
disposals (19) - - 2 - (17) 
write-back 22 - - - - 22 
currency translation 
differences (3) - - - 
- (3) 
at 31 december 2006 (1,494) - - - - (1,494) 
net book value 
at 31 december 2006 61,608 2,017 6,919 726 20,538 91,808 
at 31 december 2005 63,648 1,624 7,068 638 - 72,978 
(1) land use rights include the rights to use land appropriated by the prc government. according to 
mlr [2004] no. 253 “response concerning the disposal of land assets in the restructuring of bank 
of china” and mlr [2005] no. 165 “response concerning the additional disposal of land assets of 
bank of china limited” issued by the ministry of land and resources, the rights to use 4,032 pieces 
of land originally appropriated by the prc government have been transferred to the bank. the land 
must be used for the purposes originally approved by the prc government. upon obtaining the 
rights to the use of the lands appropriated by the prc government for specified uses, the bank can 
allocate the land in the form of capital contributions (through equity investment) or leases to direct 
investees of the bank. if the use of the land is altered or the land is allocated to parties other than 
those mentioned above, applications for approval must be filed with the related municipal and county 
level land and resources authorities of the places where the underlying pieces of land are located, 
and the fees for land assignments should be paid as required. 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
45 
v notes to the consolidated financial statements (continued) 
10 fixed assets (continued) 
these land use rights are substantially used by the group for its operating activities. there were no 
significant alterations to the use of the land or significant disposals to third parties during 2005 and 
2006. 
(2) according to the relevant prc laws and regulations, after its establishment as a joint stock company, 
the bank is required to re-register its fixed assets under the name of bank of china limited. as at 31 
december 2006, the process of re-registration has not been completed. however, this registration 
process does not affect the rights of bank of china limited as the legal successor to these assets of 
bank of china. 
(3) as at 31 december 2006, the net book value of fixed assets leased out under operating leases 
(mainly including aircraft and properties) was rmb 26,524 million (2005: rmb 5,962 million). 
the net book value of aircraft owned by the group acquired under finance lease arrangement 
amounted to rmb 661 million as at 31 december 2006. 
(4) as at 31 december 2006, the net book value of aircraft amounting to rmb 19,264 million was 
pledged for loan facilities. 
11 construction in progress 
2006 2005 
at 1 january 3,873 3,352 
additions 3,771 1,701 
acquisition of subsidiaries 1,692 - 
transfer to fixed assets (2,207) (666) 
disposals (143) (514) 
at 31 december 6,986 3,873 
less: allowance for impairment losses (401) (531) 
net book value at 31 december 6,585 3,342 
12 other assets 
31 december 2006 31 december 2005 
cost 
impairment 
allowance 
net book 
value cost 
impairment 
allowance 
net book 
value 
accounts receivable and 
prepayments (1) 22,552 (4,182) 18,370 14,275 (3,878) 10,397 
foreclosed assets (2) 5,705 (3,588) 2,117 6,393 (4,192) 2,201 
debt-for-equity swap 
investments (3) 212 - 212 2,020 - 2,020 
intangible assets 3,438 (77) 3,361 1,870 (109) 1,761 
long-term prepaid expenses 625 - 625 473 - 473 
others 2,156 - 2,156 1,958 - 1,958 
total 34,688 (7,847) 26,841 26,989 (8,179) 18,810 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
46 
v notes to the consolidated financial statements (continued) 
12 other assets(continued) 
(1) accounts receivable and prepayments 
31 december 2006 31 december 2005 
items in the process of clearance and settlement 13,128 5,353 
receivable from government agencies 2,031 2,031 
others 7,393 6,891 
sub-total 22,552 14,275 
less: allowance for impairment losses (4,182) (3,878) 
net 18,370 10,397 
the aging analysis of accounts receivable and prepayments is as follows: 
31 december 2006 31 december 2005 
cost 
allowance for 
impairment 
losses cost 
allowance for 
impairment 
losses 
within 1 year 17,505 (364) 9,476 (664) 
1-3 years 962 (765) 1,222 (338) 
above 3 years 4,085 (3,053) 3,577 (2,876) 
total 22,552 (4,182) 14,275 (3,878) 
(2) foreclosed assets 
31 december 2006 31 december 2005 
properties 3,975 4,578 
others 1,730 1,815 
sub-total 5,705 6,393 
less: allowance for impairment losses (3,588) (4,192) 
net 2,117 2,201 
(3) in 2006, the bank entered into agreement with a third party to transfer the debt-equity swap at a 
commercial price. the gain arising from the transaction recognised in the income statement 
amounted to rmb 1,309 million. refer to note v. 34. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
47 
v notes to the consolidated financial statements (continued) 
13 due to central banks 
31 december 2006 31 december 2005 
special foreign exchange deposits of government 
agencies 41,956 28,873 
borrowings from central banks 25 520 
others 393 662 
total 42,374 30,055 
14 government certificates of indebtedness for bank notes issued and bank notes in circulation 
bank of china (hong kong) limited and bank of china macau branch are note issuing banks for 
hong kong dollar and macau pataca notes in hong kong and macau, respectively. under local 
regulations, these two entities are required to place deposits of funds to the hong kong and macau 
governments respectively to secure the currency notes in circulation. 
bank notes in circulation represent the liabilities in respect of hong kong dollar notes and macau 
pataca notes in circulation, issued respectively by bank of china (hong kong) limited and bank of 
china macau branch. 
15 derivative financial instruments and liabilities at fair value through profit or loss 
31 december 2006 31 december 2005 
derivative financial instruments liabilities (note v. 3) 14,323 15,752 
liabilities at fair value through profit or loss 
structured deposits 86,474 70,069 
short position in foreign currency debt securities 8,690 3,740 
short position in exchange fund bills 3,561 1,613 
sub-total 98,725 75,422 
total 113,048 91,174 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
48 
v notes to the consolidated financial statements (continued) 
16 due to and placements from banks and other financial institutions 
31 december 2006 31 december 2005 
due to banks and other financial institutions 
due to domestic banks and other financial 
institutions 157,005 116,624 
due to overseas banks and other financial 
institutions 21,772 20,296 
sub-total 178,777 136,920 
placements from banks and other financial institutions 
placements from domestic banks and other 
financial institutions 89,110 157,225 
placements from overseas banks and other 
financial institutions 53,494 51,088 
sub-total 142,604 208,313 
total 321,381 345,233 
included in placements from bank and other financial institutions are amounts received from 
counterparties under repurchase agreements categorised as follows: 
31 december 2006 31 december 2005 
repurchase of: 
discounted bills - 11,930 
debt securities 51,245 46,393 
precious metals - 2,172 
total 51,245 60,495 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
49 
v notes to the consolidated financial statements (continued) 
17 deposits from customers 
31 december 2006 31 december 2005 
short-term corporate deposits 
corporate demand deposits 979,653 836,763 
corporate time deposits less than one year 514,564 486,681 
sub-total 1,494,217 1,323,444 
short-term saving deposits 
demand deposits 770,583 667,957 
time deposits less than one year 1,302,266 1,243,964 
sub-total 2,072,849 1,911,921 
long-term corporate deposits 36,496 26,317 
long-term saving deposits 346,010 313,703 
security and margin deposits 145,850 128,392 
total 4,095,422 3,703,777 
the security and margin deposits are analysed as follows: 
security deposits for bank acceptance 74,130 63,556 
security deposits for letters of credit and letters of 
guarantee issued 29,991 26,785 
margin deposits for foreign exchange transactions 10,076 8,638 
others 31,653 29,413 
total 145,850 128,392 
18 other borrowings 
31 december 2006 31 december 2005 
special purpose borrowings (1) 46,006 52,164 
term loans and other borrowings (2) 17,392 - 
total 63,398 52,164 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
50 
v notes to the consolidated financial statements (continued) 
18 other borrowings (continued) 
(1) special purpose borrowings 
31 december 2006 31 december 2005 
export credit loans 13,955 17,147 
foreign government loans 17,577 18,414 
other subsidized loans 14,474 16,603 
total 46,006 52,164 
special purpose borrowings are long-term borrowings in multiple currencies from foreign 
governments and/or banks in the form of export credit loans, foreign government loans and other 
subsidized loans. these special purpose loans are normally used to finance projects of special 
commercial purpose in the prc and the bank is obliged to repay these loans when they fall due. 
as at 31 december 2006, the maturity of special purpose borrowings ranges from within 1 month to 
36 years. the interest bearing special purpose borrowings bear floating and fixed interest rates 
ranging from 0.2% to 9.2%. these terms are consistent with those related to similar development 
loans from these entities. 
(2) these term loans and other borrowings relate to the financing of the aircraft leasing business of 
sale, a wholly owned subsidiary of the bank. 
as at 31 december 2006, these term loans and other borrowings have a maturity ranging from within 
5 months to 12 years and bear floating and fixed interest rates ranging from 5.55% to 7.56%. the 
term loans and other borrowings of rmb 16.2 billion are secured by aircraft of the group. see note 
v.10. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
51 
v notes to the consolidated financial statements (continued) 
19 bonds issued 
issue date maturity date interest rate 
31 december 
2006 
31 december 
2005 
bonds issued (1) 
1994 boc us dollar debt 
securities 10 march 1994 15 march 2014 8.25% 173 179 
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 60,173 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. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
52 
v notes to the consolidated financial statements (continued) 
19 bonds issued (continued) 
(2) pursuant to yinfu [2004] no. 35 “response of the pboc on the issuance of subordinated bonds by 
bank of china” and yinjianfu [2004] no. 81 “response of the cbrc on the issuance of subordinated 
bonds by bank of china”, the bank issued the following subordinated bonds: 
the first tranche of subordinated bonds issued on 7 july, 2004 has a maturity of 10 years, with a fixed 
coupon rate of 4.87%, paid annually. the bank has the option to redeem all or part of the bonds at 
face value on 20 july 2009. if the bank does not exercise this option, the annual coupon rate of the 
bonds for the second 5-year period shall be the original coupon rate plus 2.8%, and shall remain fixed 
through the maturity date. 
the second tranche of subordinated bonds issued on 22 october 2004 has a maturity of 10 years, with 
a fixed coupon rate of 4.94%, paid annually. the holders had the option to convert, at face value, all or 
part of the bonds to floating rate debt of an equivalent amount on 16 november 2005 or 16 november 
2006. none of the bond holders exercised these options. the bank has the option to redeem all or part 
of the bonds at face value on 16 november 2009. if the bank does not exercise this option, the coupon 
rate for the second 5-year period shall be the original coupon rate plus 3%, and shall be fixed for the 
remaining term of the bonds. 
the first tranche of subordinated bonds issued on 18 february 2005 has a maturity of 10 years, with a 
fixed coupon rate of 4.83%, paid annually. the bank has the option to redeem all or part of the bonds 
at face value on 4 march 2010. if the bank does not exercise this option, the annual coupon rate of the 
bonds for the second 5-year period shall be the original coupon rate plus 3%, and shall remain fixed for 
the remaining term of the bonds. 
the second tranche of fixed rate subordinated bonds issued on 18 february 2005 has a maturity of 15 
years, with a fixed coupon rate of 5.18%, paid annually. the bank has the option to redeem all or part 
of the bonds at face value on 4 march 2015. if the bank does not exercise this option, the annual 
coupon rate of the bonds for the third 5-year period shall be the original coupon rate plus 3%, and shall 
remain fixed through the maturity date. 
the second tranche of floating rate subordinated bonds issued on 18 february 2005 has a maturity of 
10 years, with a floating rate based on a 7-day domestic money market rate, paid semi-annually. the 
bank has the option to redeem all or part of the bonds at face value on 4 march 2010. if the bank does 
not exercise this option, the floating rate for the second 5-year period shall be the original floating rate 
plus 1%. 
these rmb denominated bonds are subordinated to all other claims on the assets of the bank, except 
those of the shareholders. in the calculation of the group’s capital adequacy ratio, these bonds qualify 
for inclusion as supplementary capital in accordance with the relevant cbrc guidelines. 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
53 
v notes to the consolidated financial statements (continued) 
20 deferred income tax 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 v.38) (93) (1,252) 
acquisition of a subsidiary (786) - 
exchange differences 3 (18) 
at 31 december 16,501 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 related to the 
same fiscal authority. the table below includes the group’s deferred income tax assets and liabilities 
after offsetting qualifying amounts: 
31 december 2006 31 december 2005 
deferred income tax assets 17,605 17,561 
deferred income tax liabilities (1,104) (184) 
16,501 17,377 
deferred income tax assets and liabilities are attributable to the following items: 
31 december 2006 31 december 2005 
deferred income tax assets 
asset impairment provision 20,205 17,744 
fair value changes of trading and other securities at fair 
value through profit or loss and derivative financial 
instruments 2,653 3,046 
other timing differences 1,077 696 
sub-total 23,935 21,486 
deferred income tax liabilities 
fair value changes of trading and other securities at 
fair value through profit or loss and derivative 
financial instruments (5,124) (3,643) 
depreciation of fixed assets (1,670) (424) 
other timing differences (640) (42) 
sub-total (7,434) (4,109) 
total 16,501 17,377 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
54 
v notes to the consolidated financial statements (continued) 
20 deferred income tax assets/liabilities (continued) 
the deferred tax charge in the income statement comprises the following timing differences: 
31 december 2006 31 december 2005 
asset impairment provision 2,461 1,467 
fair value changes of trading and other securities at 
fair value through profit or loss and derivative 
financial instruments (1,874) (2,338) 
other timing differences (680) (381) 
total (note v.38) (93) (1,252) 
21 other liabilities 
31 december 2006 31 december 2005 
items in the process of clearance and settlement 65,510 52,957 
tax payable 18,149 23,458 
salary and welfare payable 9,052 6,031 
employee retirement welfare obligation (1) 2,129 1,956 
payable to mof (2) 8,680 17,362 
other payables and temporary receipts (3) 36,382 32,901 
total 139,902 134,665 
(1) movement of employee retirement welfare obligation 
2006 2005 
at 1 january 1,956 1,804 
amounts recognised in the income 
statement (note v.35) 
318 294 
benefit paid (145) (142) 
at 31 december 2,129 1,956 
(2) pursuant to caijin[2005] no. 164 “notification on the treatment of bank of china’s state equity surplus 
for the year 2003 and profit appropriation for the year 2004”, the amount is payable by the bank to 
the mof before 31 december 2008. 
(3) included in other payables and temporary receipts of the group are insurance liabilities as at 31 
december 2006 and 31 december 2005 arising from insurance contracts analysed as follows: 
as at 31 december as at 31 december 
2006 2005 
long term insurance contracts 14,625 8,383 
general insurance contracts 2,200 2,079 
total insurance liabilities, net 16,825 10,462 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
55 
v notes to the consolidated financial statements (continued) 
21 other liabilities (continued) 
included in other payables and temporary receipts of the group are allowance for litigation losses as 
at 31 december 2006 and 31 december 2005, the movement of allowance for litigation losses are as 
31 december 2006 31 december 2005 
at 1 january 1,516 1,310 
provision for the year 897 712 
utilized during the year (428) (506) 
at 31 december 1,985 1,516 
22 share appreciation rights plan and share option schemes 
(1) share appreciation rights plan 
in 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 twelve month period ended 31 december 2006 
and 2005, and no rights were outstanding with respect to the share appreciation rights plan as at 31 
december 2006 and 31 december 2005. 
(2) bochk holdings 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 pursuant to the share option scheme or the sharesave plan during the 
period from 10 july 2002 to 31 december 2006. 
(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 financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
56 
v notes to the consolidated financial statements (continued) 
22 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 * 
total number 
of shares 
at 1 january 2006 6,142,500 10,619,250 1,446,000 18,207,750 
transferred 239,000 (239,000) - - 
less: share options exercised 
during the year - (4,278,700) - (4,278,700) 
less: share options lapsed 
during the year - (43,500) - (43,500) 
at 31 december 2006 6,381,500 6,058,050 1,446,000 13,885,550 
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 
* these represent share options held by former directors or former employees of bochk holdings. 
regarding the share options exercised during the years ended 31 december 2006 and 2005, the 
weighted average share price of bochk holdings' shares at the time of exercise was hkd 16.50, 
and hkd 15.01 respectively. 
23 minority interest 
2006 2005 
at 1 january 28,778 27,387 
share of current year’s profit 5,260 5,105 
increase of shares in a subsidiary 33 17 
dividends paid to minority shareholders (3,391) (2,954) 
net fair value changes of available-for-sale 
securities 39 (110) 
currency translation differences and others (1,159) (667) 
at 31 december 29,560 28,778
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
57 
v notes to the consolidated financial statements (continued) 
24 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 31 december (3) 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 31 december (3) 253,839,162,009 209,427,362,357 
as at 31 december 2006, the bank’s share capital is as follows: 
31 december 2006 
domestic listed a shares (2) 177,818,910,740 
overseas listed h shares (2) 76,020,251,269 
total (3) 253,839,162,009 
(1) in accordance with yinjianhui [2006] no.49 “approval on the introduction of strategic investor – national 
council for social security fund (“nssf”) 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 nssf at a 
premium. nssf paid rmb10 billion in cash including share premium of rmb1,481 million. the 
payment from nssf was verified by pricewaterhousecoopers zhong tian certified public accountants 
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 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 certified public accountants 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. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
58 
v notes to the consolidated financial statements (continued) 
24 share capital (continued) 
in accordance with 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 initial public offering 
of bank of china limited”, on 29 june 2006, the bank issued 6,493,506,000 a shares at a price of 
rmb3.08 per share through the a share initial public offering to the domestic investors. the payment 
from domestic investors was verified by pricewaterhousecoopers zhong tian certified public 
accountants 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 the same rights and benefits. 
(3) as at 31 december 2006, a wholly owned subsidiary of the group held certain listed shares of the bank 
in relation to its derivative and arbitrage business. these shares are treated as treasury shares, a 
deduction from shareholders’ equity. gains and losses on sale or redemption of the treasury shares are 
credited or charged to reserves. the total number of treasury shares as at 31 december 2006 was 50 
million (2005: nil). 
25 capital reserve 
group bank 
as at 1 january 2006 3,978 3,978 
premium (1) 72,567 72,219 
others (2) 4 (308) 
as at 31 december 2006 76,549 75,889 
group & bank 
as at 1 january 2005 - 
share premium 3,964 
others 14 
as at 31 december 2005 3,978 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
59 
v notes to the consolidated financial statements (continued) 
25 capital reserve (continued) 
(1) during the years ended 31 december 2006 and 2005, the bank issued ordinary shares at share 
premiums (refer to note v 24(1)) as follows: 
2006 
group bank 
issued share 
with nssf 
issued 
h share 
issued 
a share total 
total proceeds received from 
issuance of ordinary shares 10,000 89,967 20,000 119,967 119,967 
less: par value of issued ordinary 
shares (8,514) (29,404) (6,494) (44,412) (44,412) 
share premium before issuance 
costs 1,486 60,563 13,506 75,555 75,555 
less: issuance costs (i) (5) (2,435) (548) (2,988) (3,336) 
net share premium 1,481 58,128 12,958 72,567 72,219 
2005 
group and bank 
total proceeds received from issuance 
of ordinary shares 27,057 
less: par value of issued 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, a subsidiary of the group was appointed as one of the 
underwriters in the bank’s global offering and was paid underwriting commission at a rate which was 
consistent with that of third parties. this underwriting commission was eliminated on consolidation. 
(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 limited to boc hong kong 
(holdings) limited, a 65.87% owned listed subsidiary of the group for a consideration of hk$900 
million in cash on june 2006. boc hong kong (holdings) 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 financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
60 
v notes to the consolidated financial statements (continued) 
26 surplus reserve 
statutory surplus 
reserve 
statutory welfare 
reserve total 
at 1 january 2006 4,940 1,047 5,987 
reclassification of statutory 
welfare reserve 1,047 (1,047) - 
appropriation to statutory 
surplus reserve (note v.28) 4,393 - 4,393 
at 31 december 2006 10,380 - 10,380 
statutory surplus 
reserve 
statutory welfare 
reserve total 
at 1 january 2005 2,093 1,047 3,140 
appropriation to statutory 
surplus reserve (note v. 28) 2,847 - 2,847 
at 31 december 2005 4,940 1,047 5,987 
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 cease when the balance of such reserves has reached 50% of the share 
capital. subject to the approval of the shareholders, the 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 accordance with the “prc company law”, the bank’s articles of association, and the resolution 
of the board of directors, the bank was no longer required to accrue any welfare reserve from 1 
january 2006 onwards. in accordance with the “circular on accounting treatment following the 
implementation of company law” issued by mof, the balance of the regulatory welfare reserve 
as at 31 december 2005 was transferred to statutory surplus reserve. 
in addition, some overseas branches and subsidiaries are required to transfer certain percentages 
of their net profit to the statutory surplus reserve as stipulated by local banking authorities. 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
61 
v notes to the consolidated financial statements (continued) 
27 general reserve and regulatory reserve 
general reserve regulatory reserve total 
at 1 january 2006 2,603 2,506 5,109 
appropriation to general and 
regulatory reserve (note v.28) 8,764 64 8,828 
others - (3) (3) 
at 31 december 2006 11,367 2,567 13,934 
general reserve regulatory reserve total 
at 1 january 2005 419 - 419 
appropriation to general and 
regulatory reserve (note v.28) 2,184 2,506 4,690 
at 31 december 2005 2,603 2,506 5,109 
pursuant to caijin [2005] no. 49 “measures on general provision for bad and doubtful debts for 
financial institutions”, 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 caijin [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 from 2005. the board 
of director on 29 august 2006 approved the bank to appropriate rmb 8,764 million (2005: rmb 
2,184 million) to the general reserve. as at 31 december 2006, total amount of general reserve 
achieved 0.4% of the required level. 
the regulatory reserve mainly refers to the reserve amount set aside by boc hong kong (group) 
limited, a subsidiary of the group, for general banking risks, including future losses or other 
unforeseeable risks. as at 31 december 2006, the reserve amount set aside by boc hong kong 
(group) limited was rmb 2,533 million (2005: rmb 2,475 million). 
28 undistributed profits 
2006 2005 
at 1 january 12,585 17,373 
adoption of equity accounting for investment in an 
associate(note v.9) - 2,194 
net profit 41,892 27,492 
appropriation to statutory surplus reserve (note v.26) (1) (4,393) (2,847) 
appropriation to general reserve and regulatory 
reserve(note v.27) (2) (8,828) (4,690) 
dividends (3) (1,375) (26,937) 
others 3 - 
at 31 december 39,884 12,585 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
62 
v notes to the consolidated financial statements (continued) 
28 undistributed profits (continued) 
(1) in accordance with a resolution of the board of directors dated 22 march 2007, the bank 
appropriated 10% of the net profit for the year ended 31 december 2006 to the statutory surplus 
reserves, amounting to rmb 4,249 million. 
(2) appropriation to general reserve and regulatory reserves 
in accordance with a resolution dated 22 march 2007 and on the basis of the bank’s profit for the 
year ended 31 december 2006, the board of directors of the bank approved the appropriation of 
rmb 8,764 million to the general reserves for the year ended 31 december 2006. 
the general reserve of boc hong kong (group) limited, a subsidiary of the group is mainly 
referring to the amount of rmb 58 million set aside for general banking risks, including future losses 
or other unforeseeable risks in accordance with the requirements of hong kong monetary authority, 
in addition to the loan impairment allowances on advances. 
(3) dividends 
according to the 2004 profit distribution plan approved by the shareholder at the second 
extraordinary general shareholder’s meeting held on 7 september 2005, the bank distributed a cash 
dividend of rmb 14,200 million to its shareholder. 
according to the profit distribution plan for the first half of 2005 approved by the seventh 
extraordinary general shareholders’ meeting held on 31 december 2005, the bank distributed a cash 
dividend of rmb 12,737 million to its shareholder. 
according to the 2005 profit distribution plan approved by the shareholder at a post-adjournment 
session of the annual general meeting as at 30 april 2006, the bank distributed a cash dividend of 
rmb1,375 million to its shareholders. 
a dividend in respect of 2006 of rmb 0.04 per share, amounting to a total dividend of rmb 10,154 
million is to be proposed for approval at the annual general meeting to be held on 14 june 2007. 
these financial statements do not reflect this dividend payable, which will be accounted for in 
shareholders' equity as an appropriation of undistributed profits in the year ending 31 december 
2007. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
63 
v notes to the consolidated financial statements (continued) 
29 reserve for fair value changes of available-for-sale securities 
2006 2005 
at 1 january (1,380) (2,315) 
fair value changes (2,178) 173 
net losses transferred to the income 
statement on disposal 1,119 762 
at 31 december (2,439) (1,380) 
the unrealised losses on available-for-sale securities fair value changes arose from the changes in 
interest rates of rmb and usd in year 2006. 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 deterioration of credit rating of the issuers. 
30 net interest income 
2006 2005 
interest income 
loans and advances to customers 128,270 109,711 
debt securities 67,195 44,938 
due from and placements with banks and other 
financial institutions 13,892 8,426 
due from central banks 5,313 4,270 
sub-total 214,670 167,345 
interest expense 
deposits from customers (79,939) (55,914) 
due to and placements from banks and other 
financial institutions, and due to central banks (9,393) (6,512) 
other borrowings and bonds issued (4,631) (4,514) 
sub-total (93,963) (66,940) 
net interest income 120,707 100,405 
31 net fee and commission income 
2006 2005 
agency commissions 4,621 2,735 
settlement and clearing fees 3,848 2,941 
credit commitment fees 3,064 2,693 
bank card fees 2,937 2,340 
custodian and other fiduciary service fees 531 483 
others 2,138 1,506 
fee and commission income 17,139 12,698 
fee and commission expense (2,816) (3,451) 
net fee and commission income 14,323 9,247 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
64 
v notes to the consolidated financial statements (continued) 
32 net trading (losses)/gains 
2006 2005 
net (losses)/gains from foreign exchange and foreign 
exchange products (1) (2,204) 2,518 
net gains from interest rate instruments and others 492 1,954 
net (losses)/gains from trading equity securities and 
others (2) (2,067) 10 
total (3,779) 4,482 
(1) the analysis of foreign currency exposure and assets/liabilities of the group referred to note ix. 
the net (losses)/gains from foreign exchange and foreign exchange products include spread 
income in respect of the group’s operations in foreign exchange transactions business, realised 
and unrealised gains/losses of foreign exchange derivatives, and exchange differences arising 
from the retranslation of foreign currency denominated monetary assets and liabilities. 
in connection with the retranslation of its foreign currency denominated monetary assets and 
liabilities, the group recognised losses of approximately rmb 14.2 billion (2005: rmb 8.5 billion). 
these foreign currency translation losses mainly resulted from an increase in the group’s on 
balance sheet usd exposure and further appreciation of rmb against usd during 2006. these 
losses were partially offset by the change in fair value gains of the huijin option rmb 1.9 billion 
(2005: rmb 3.2 billion), the usd/rmb swaps of rmb 2.2 billion (2005: rmb 0.01 billion) and a 
gain of rmb 0.3 billion (2005: rmb 0.6 billion) arising from other foreign exchange related 
products. (see note ix). while the net changes in fair value of usd/rmb swaps above include 
the swap funding costs borne by the bank, the related interest on the higher yielding financial 
assets denominated in usd earned by the bank is reported in the interest income. 
(2) bank of china international holdings limited, a wholly owned subsidiary of the group has 
operation in dealing in equity securities and in this connection, it has established economic 
hedges using derivative instruments for its trading in equity investment. the gain and loss arising 
from dealing in equity and fair value changes of equity investment held for trading are recognised 
in investment gain/losses. refer to note v. 33. 
33 investment gains/(losses) 
2006 2005 
equity investment 
net gain from investment in associates/joint 
venture (note v. 9) 632 166 
others 3,827 512 
sub-total 4,459 678 
losses on debt securities (628) (926) 
total 3,831 (248) 
other equity investment gains included: (1) gains on disposal of trading portfolio equity 
investments held by a subsidiary of the group in hong kong amounting to rmb 2,276 million 
(2005: rmb 130 million), and (2) gains on disposal of a subsidiary and other equity investments 
amounting to rmb 1,269 million (2005: rmb 141 million). 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
65 
v notes to the consolidated financial statements (continued) 
34 other operating income, net 
2006 2005 
other operating income 
insurance premium 7,708 5,237 
others (1) 2,623 1,380 
sub-total 10,331 6,617 
other operating expense 
insurance claim expense (7,484) (3,861) 
others (301) (614) 
sub-total (7,785) (4,475) 
other operating income, net 2,546 2,142 
(1) other operating income for the year ended 31 december 2006 includes: (i) gains on disposal of 
debt to equity swap amounting to rmb 1,309 million, refer to note v. 12, and (ii) gains of rmb 
660 million arising from the disposal of certain loans by a subsidiary of the group in hong kong in 
march 2006. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
66 
v notes to the consolidated financial statements (continued) 
35 operating and administrative expenses 
2006 2005 
staff costs 30,677 23,979 
general operating and administrative expenses 17,283 15,742 
depreciation 5,654 5,883 
total 53,614 45,604 
staff costs are analysed as follows: 
2006 2005 
salaries and welfare expenses 24,147 18,533 
defined contribution plans 3,079 2,253 
housing funds 1,224 1,000 
other social insurance costs 993 464 
defined benefit plans (note v.21) 318 294 
others 916 1,435 
total 30,677 23,979 
in 2006, the group continued to implement the joint stock reform plan as approved by the state 
council, including undertaking a comprehensive re-design of its employee compensation and 
establishing a new supplementary pension program, the annuity plan. included in the defined 
contribution plans is rmb 955 million (2005: rmb 738 million) contributed by the bank to the 
annuity plan in 2006. 
contributions to defined contribution plans for the year ended 2006 include the effect of 
deductions of forfeited contributions of approximately rmb 33.9 million (2005: rmb 27 million). 
36 business tax and surcharges 
2006 2005 
business tax 5,811 5,104 
city maintenance and construction tax 381 335 
education surcharges 209 178 
others 61 63 
total 6,462 5,680 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
67 
v notes to the consolidated financial statements (continued) 
37 impairment losses 
2006 2005 
provision for loan impairment (note v. 7) 11,687 10,888 
provision for impairment losses of foreclosed assets 85 133 
(write-back of )/provision for impairment losses of 
other receivables (211) 498 
provision for /(write-back of ) impairment losses of 
fixed assets and others 26 (534) 
total 11,587 10,985 
38 income tax 
2006 2005 
current income tax 
chinese mainland income tax 16,477 18,536 
hong kong, macao and other overseas income tax 3,287 2,755 
19,764 21,291 
deferred income tax (note v.20) 93 1,252 
total 19,857 22,543 
the provision for chinese mainland income tax includes the supplementary prc tax on income 
derived from the group’s overseas operations. 
the tax on the group’s profit before tax differs from the theoretical amount that would arise using the 
basic domestic tax rate of the bank as follows: 
2006 2005 
profit before income tax 67,009 55,140 
tax calculated at a tax rate of 33% 22,113 18,196 
effect of different tax rates in overseas operations (3,796) (3,445) 
supplementary tax on overseas income paid in the 
prc 2,510 1,388 
income not subject to tax (1) (2,352) (1,803) 
expenses not deductible for tax purposes (2) 1,137 4,789 
prior year tax expenses adjustment (3) (300) 2,376 
others (4) 545 1,042 
total 19,857 22,543 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
68 
v notes to the consolidated financial statements (continued) 
38 income tax (continued) 
(1) it mainly comprised the interest income from the prc treasury bills. 
(2) non tax-deductible expenses primarily comprised staff salary costs in excess of the deduction limit 
permitted under relevant prc tax regulations. 
according to caishui [2007] no. 40, "notice to bank of china limited on the deductible criterion 
relating to salary expenses" issued by mof and the state administration of taxation, the deductible 
salary expenses approved for the domestic operations in 2006 were rmb15,669 million when 
determining the bank's 2006 taxable income. as the approved amounts of deductible salary 
expenses were higher than the deduction limit originally applicable to the bank, the bank's tax 
expenses were reduced by rmb 4,626 million. 
(3) the prior year tax expense adjustments for the year 2005 includes rmb1,921 million related to the 
reversal in 2004 of certain provisions recorded in prior years. such reversals were non-taxable. 
(4) others primarily included non-performing loans sold. the deferred income tax assets arising from the 
associated loan loss provisions were subsequently de-recognised. 
39 earnings per share (basic & diluted) 
basic and diluted earnings per share for the years ended 31 december 2006 and 2005 have been 
computed by dividing the profit for each year by the weighted average number of ordinary shares in 
issue during the period. 
the group had no dilutive potential ordinary shares as at 31 december 2006 and 2005, and 
therefore the diluted earnings per share was equal to the basic earnings per share. 
2006 2005 
profit attributable to equity holders of the bank 41,892 27,492 
weighted average number of ordinary shares in 
issue (in millions) 236,055 
186,425 
basic and diluted earnings per share (in rmb) 0.18 0.15
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
69 
v notes to the consolidated financial statements (continued) 
40 notes to the cash flow statement 
for the purpose of the cash flow statement, cash and cash equivalents comprise the following 
balances with an original maturity of less than three months: 
31 december 2006 31 december 2005 
cash 31,110 28,644 
balances with central banks (note v. 1) 101,776 108,149 
due from and placement with banks and other financial 
institutions (note v. 4) 313,313 244,744 
short term bills and notes (note v. 5) 73,745 15,575 
total 519,944 397,112 
reconciliation of net profit to cash flows from operating activities 
2006 2005 
net profit 41,892 27,492 
add/(less): 
minority interest 5,260 5,105 
asset impairment losses 11,587 10,985 
depreciation of fixed assets 5,654 5,883 
amortisation of intangible assets and long-term 
deferred expenses 808 912 
net gains on disposal of fixed assets and other 
assets (2,026) (1,028) 
investment gains from equity securities (4,459) (678) 
interest expenses arising from bonds issued 2,840 2,611 
increase in operating receivables (459,308) (444,982) 
increase in operating payables 425,660 407,583 
net cash inflow from operating activities 27,908 13,883 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
70 
v notes to the consolidated financial statements (continued) 
41 acquisition of subsidiaries 
on 15 december 2006, bank of china group investment limited, a wholly owned subsidiary of the 
bank, acquired 100% of the share capital of the sale for cash consideration of us$978 million (rmb 
7,627 million). 
the details of the fair value of the assets and liabilities acquired and equity investment difference 
arising as at 15 december 2006 are as follows: 
fair value acquiree’s 
carrying amount 
cash and cash equivalents 2,254 2,254 
fixed assets 20,209 20,001 
construction in process 1,692 1,692 
intangible assets 1,856 - 
other assets 428 428 
deferred income tax liabilities (777) (260) 
other liabilities (19,910) (19,910) 
net 5,752 4,205 
premium on acquisition/equity investment difference 
(note v. 9) 1,875 
total purchase consideration paid 7,627 
less: cash and cash equivalents in subsidiary acquired (2,254) 
net cash outflow on acquisition 5,373 
the premium on acquisition/equity investment difference is attributable to the high profitability of the 
acquired business and the significant synergies expected to arise. fair value of assets and liabilities 
acquired were based on discounted cash flow models. 
the operating income of the acquired company was not significant to the group for the year ended 
31 december 2006. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
71 
vi notes to the bank’s financial statements 
1 debt securities 
31 december 2006 31 december 2005 
debt securities available-for-sale (at fair value) 
government 283,860 219,566 
public sector and quasi-government 145,929 102,200 
financial institution 195,235 146,373 
corporate 81,002 70,798 
sub-total 706,026 538,937 
debt securities held-to-maturity (at amortised cost) 
government 144,292 227,718 
public sector and quasi-government 75,749 103,074 
financial institution 62,702 74,791 
corporate 4,655 9,560 
sub-total 287,398 415,143 
debt securities classified as loans and receivables 
(at amortised cost) 
china orient bond 160,000 160,000 
pboc - special bills 91,612 91,530 
- target bills 28,702 - 
special purpose treasury bond 42,500 42,500 
long term notes 
- financial institution 14,545 1,545 
short term bills and notes 
- public sector and quasi-government 3,895 5,992 
- financial institution 98,006 32,156 
- corporate 6,546 - 
certificate treasury bonds and others 12,952 10,343 
458,758 344,066 
allowance for impairment losses (152) (156) 
sub-total 458,606 343,910 
total 1,452,030 1,297,990 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
72 
vi notes to the bank’s financial statements (continued) 
1 debt securities (continued) 
the movement in debt securities is summarized as follows: 
available-for-sale held-to-maturity total 
at 1 january 2006 538,937 415,143 954,080 
additions 710,389 248,276 958,665 
sales and redemptions (536,733) (375,327) (912,060) 
accretion 3,975 3,009 6,984 
fair value changes (2,244) - (2,244) 
exchange differences (8,298) (3,703) (12,001) 
at 31 december 2006 706,026 287,398 993,424 
available-for-sale held-to-maturity total 
at 1 january 2005 346,403 252,254 598,657 
additions 847,817 432,940 1,280,757 
sales and redemptions (638,230) (267,575) (905,805) 
(amortisation)/ accretion (496) 2,061 1,565 
fair value changes 394 - 394 
exchange differences (16,951) (4,537) (21,488) 
at 31 december 2005 538,937 415,143 954,080 
2 loans and advances to customers 
31 december 2006 31 december 2005 
unsecured loans 469,084 401,756 
guaranteed loans 652,766 617,332 
collateralised and other secured loans 942,764 849,017 
total 2,064,614 1,868,105 
3 equity investments 
31 december 2006 31 december 2005 
investment in subsidiaries 70,220 66,294 
investment in associates 36 63 
others 786 796 
71,042 67,153 
less: allowance for impairment losses (73) (202) 
70,969 66,951 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
73 
vi notes to the bank’s financial statements (continued) 
3 equity investments (continued) 
movement of investment in subsidiaries is as follows: 
2006 2005 
at 1 january 66,294 60,887 
additions 435 484 
share of results after tax 12,884 10,895 
dividends received (7,146) (6,010) 
currency translation differences and others (2,247) 38 
at 31 december 70,220 66,294 
4 deposits from customers 
31 december 2006 31 december 2005 
short-term corporate deposits 
corporate demand deposits 883,939 747,059 
corporate time deposits with maturity of less than 
one year 400,420 380,105 
sub-total 1,284,359 1,127,164 
short-term saving deposits 
demand deposits 565,893 492,876 
time deposits with maturity of less than one year 993,671 937,430 
sub-total 1,559,564 1,430,306 
long-term corporate deposits 35,809 24,395 
long-term saving deposits 341,323 305,239 
security and margin deposits 138,815 122,083 
total 3,359,870 3,009,187 
the security and margin deposits are analysed as follows: 
security deposits for bank acceptance 74,097 63,522 
security deposits for letters of credit and 
letters of guarantee issued 29,790 26,469 
margin deposits for foreign exchange transactions 4,520 3,718 
others 30,408 28,374 
total 138,815 122,083 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
74 
vi notes to the bank’s financial statements (continued) 
5 net interest income 
2006 2005 
interest income 
loans and advances to customers 107,267 94,464 
debt securities 52,483 34,994 
due from and placements with banks and other 
financial institutions 8,517 5,136 
due from central banks 4,730 4,145 
sub-total 172,997 138,739 
interest expense 
deposits from customers (55,546) (42,384) 
due to and placements from banks and other 
financial institutions, due to central banks (9,242) (6,602) 
other borrowings and bonds issued (4,631) (4,514) 
sub-total (69,419) (53,500) 
net interest income 103,578 85,239 
6 net fee and commission income 
2006 2005 
agency commissions 1,609 964 
settlement and clearing fees 2,865 2,247 
credit commitment fees 2,478 2,030 
bank card fees 2,080 1,540 
custodian and other fiduciary service fees 260 227 
others 1,495 1,063 
fee and commission income 10,787 8,071 
fee and commission expenses (1,027) (1,851) 
net fee and commission income 9,760 6,220 
7 net trading (losses)/gains 
2006 2005 
net (losses)/gains from foreign exchange and foreign 
exchange products (4,004) 758 
net gains from interest rate instruments 212 1,884 
total (3,792) 2,642 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
75 
vi notes to the bank’s financial statements (continued) 
8 investment gains 
2006 2005 
equity investment 
share of result of subsidiaries 13,442 10,895 
net gains from investment in associates 9 37 
others 63 48 
sub-total 13,514 10,980 
losses on debt securities (615) (813) 
total 12,899 10,167 
9 operating and administrative expenses 
2006 2005 
staff costs 24,983 19,607 
general operating and administrative expenses 15,144 13,851 
depreciation 4,796 5,060 
total 44,923 38,518 
staff costs are analysed as follows: 
2006 2005 
salaries and welfare expenses 18,882 14,673 
defined contribution plans 2,743 2,211 
housing funds 1,224 1,000 
other social insurance costs 983 419 
defined benefit plans 318 294 
others 833 1,010 
total 24,983 19,607 
10 impairment losses 
2006 2005 
provision for loan losses 13,870 13,770 
provision for impairment losses of foreclosed assets 85 131 
(write-back of)/provision for impairment losses of 
other receivables (119) 497 
write-back of impairment losses of fixed assets and 
others (24) (148) 
total 13,812 14,250 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
76 
vi notes to the bank’s financial statements (continued) 
11 notes to the cash flow statement 
for the purpose of the cash flow statement, cash and cash equivalents comprise the following 
balances with an original maturity of less than three months: 
31 december 2006 31 december 2005 
cash 27,632 25,144 
balances with central banks 77,810 82,936 
due from and placement with banks and other financial 
institutions 220,741 154,349 
short term bills and notes 70,859 13,194 
total 397,042 275,623 
reconciliation of net profit to cash flows from operating activities 
2006 2005 
net profit 42,497 27,492 
add/(less): 
asset impairment losses 13,812 14,250 
depreciation of fixed assets 4,796 5,060 
amortisation of intangible assets and long-term 
deferred expenses 808 912 
net gains on disposal of fixed assets and other 
assets (1,770) (534) 
investment gains from equity securities (13,514) (10,980) 
interest expenses arising from bonds issued 2,840 2,611 
increase in operating receivables (371,606) (456,554) 
increase in operating payables 329,392 391,789 
net cash inflow from operating activities 7,255 (25,954) 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
77 
vii 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 subject 
to the control of the state council of the prc government through huijin. 
(1) transactions with huijin 
(i) foreign currency option agreement 
in 2005, the bank entered into a foreign currency option agreement with huijin to reduce its foreign 
currency exposure and as at 31 december 2006 and 2005, the outstanding notional amount of the 
foreign currency option agreement was usd 18 billion (note v.3 and note xii). 
(ii) on 15 may 2006, a dividend of rmb 1,375 million, relating to the year ended 31 december 2005, 
was paid to huijin, in accordance with the approval by the equity holders at a post-adjournment 
session of the annual general meeting on 30 april 2006. 
(iii) in accordance with the resolution of the seventh extraordinary meeting of the shareholder in 2005, 
huijin agreed to the appropriation of rmb 500 million of distributed dividends in 2004, as start-up 
funding for the bank’s new annuity plan。 
(iv) deposit 
2006 2005 
at 1 january 38,869 - 
deposits received during the year 288,128 42,972 
deposits repaid and other changes during the year (304,937) (4,103) 
at 31 december 22,060 38,869 
the deposits from huijin are under commercial terms and at market rates. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
78 
vii related party transactions (continued) 
(2) transactions with other companies controlled by huijin 
huijin also has controlling equity interests in certain other bank and non-bank entities 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 volume of such transactions for the years ended 31 december 2006 and 2005 and the 
outstanding balances with these companies as of 31 december 2006 and 2005 are as follows: 
(i) trading assets and investment securities 
year ended 31 december 
2006 2005 
purchases during the year 1,207 1,499 
redemptions/sales during the year 1,804 1,218 
2006 2005 
outstanding balance at 1 january 2,400 2,183 
outstanding balance at 31 december 1,762 2,400 
(ii) due from banks 
year ended 31 december 
2006 2005 
outstanding balance at 1 january 88 94 
outstanding balance at 31 december 121 88 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
79 
vii related party transactions (continued) 
(2) transactions with other companies controlled by huijin (continued) 
(iii) placements with banks and other financial institutions 
year ended 31 december 
2006 2005 
outstanding balance at 1 january 2,318 3,537 
outstanding balance at 31 december 1,662 2,318 
(iv) due to banks and other financial institutions 
year ended 31 december 
2006 2005 
outstanding balance at 1 january 2,076 1,895 
outstanding balance at 31 december 1,971 2,076 
(v) placements from banks and other financial institutions 
year ended 31 december 
2006 2005 
outstanding balance at 1 january 243 - 
outstanding balance at 31 december 106 243 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
80 
vii related party transactions (continued) 
(3) transactions with shareholders holding 5% or more ordinary shares 
as at 31 december 2006, in addition to huijin, the shareholder holding 5% or more ordinary shares of 
the bank is rbs china investments s.à.r.l.. the bank has no significant transactions with this 
shareholder in 2006 and has no material balances with this shareholder as at 31 december 2006. 
(4) transactions with associates/joint venture 
the group enters into banking transactions with associates and joint ventures (note v.9(1)) in the 
normal course of business under commercial terms and at market rates. these include loans and 
advances, deposit taking and such other normal banking businesses. the outstanding balances with 
associates and joint ventures and related allowance for impairment losses as of the respective year 
end dates, and the volume of transactions for the years ended 31 december 2006 and 2005 are 
stated below. the related interest income and expense amounts are not considered significant. 
(i) loans and advances 
2006 2005 
outstanding balance as at 1 january 7,240 1,246 
granted during the year 381 8,128 
repaid during the year (6,616) (989) 
write-off and other changes during the year (191) (1,145) 
outstanding balance as at 31 december 814 7,240 
allowance for impairment losses (18) (119) 
(ii) deposits 
2006 2005 
outstanding balance as at 1 january 856 1,227 
received during the year 6,498 3,879 
repaid and other changes during the year (4,065) (4,250) 
outstanding balance as at 31 december 3,289 856 
(iii) debt securities issued by associates 
2006 2005 
outstanding balance as at 1 january 188 - 
purchases during the year - 1,307 
redemptions/sales during the year (188) (1,123) 
fair value changes and others - 4 
outstanding balance as at 31 december - 188 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
81 
viii 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. within hong kong and macau, bochk holdings and its 
intermediate holding companies, collectively referred to as boc hong kong group, account for the 
majority of the group’s overseas operating activities. 
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 organizational 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 amortisation 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 financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
82 
viii segment reporting (continued) 
for the year ended 31 december 2006 
hong kong & macau 
chinese 
mainland 
boc hong kong 
group others sub-total 
other overseas 
operations elimination total 
interest income 166,485 40,936 4,870 45,806 7,563 (5,184) 214,670 
interest expense (65,575) (24,668) (3,158) (27,826) (5,750) 5,188 (93,963) 
net interest income 100,910 16,268 1,712 17,980 1,813 4 120,707 
net fee and commission income 8,629 3,587 1,782 5,369 829 (504) 14,323 
net trading (losses)/gains (3,773) 1,835 (1,819) 16 (22) - (3,779) 
investment (losses)/gains (601) 24 4,340 4,364 27 41 3,831 
other operating income, net 1,960 (473) 1,207 734 (7) (141) 2,546 
107,125 21,241 7,222 28,463 2,640 (600) 137,628 
operating and administrative expenses (43,139) (6,480) (2,590) (9,070) (1,465) 60 (53,614) 
business tax and surcharges (6,367) (44) (19) (63) (32) - (6,462) 
operating profit 57,619 14,717 4,613 19,330 1,143 (540) 77,552 
non-operating income, net (24) 348 611 959 109 - 1,044 
profit before impairment losses 57,595 15,065 5,224 20,289 1,252 (540) 78,596 
impairment (losses)/ write-back (14,923) 1,933 1,173 3,106 230 - (11,587) 
profit before tax 42,672 16,998 6,397 23,395 1,482 (540) 67,009 
income tax (16,353) (2,871) (533) (3,404) (290) 190 (19,857) 
profit after tax 26,319 14,127 5,864 19,991 1,192 (350) 47,152 
minority interest (9) (5,012) (239) (5,251) - - (5,260) 
net profit 26,310 9,115 5,625 14,740 1,192 (350) 41,892 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
83 
viii segment reporting (continued) 
hong kong & macau 
as at and for the year ended 31 december 
2006 
chinese 
mainland 
boc hong kong 
group others sub-total 
other overseas 
operations elimination total 
segment assets 4,291,241 922,777 156,086 1,078,863 214,735 (259,566) 5,325,273 
segment liabilities (3,915,907) (843,061) (135,404) (978,465) (204,673) 191,586 (4,907,459) 
other segment items: 
capital expenditure 5,954 740 666 1,406 52 - 7,412 
depreciation and amortisation 5,500 639 193 832 131 - 6,463 
credit commitments 884,607 188,664 14,812 203,476 61,297 (61,558) 1,087,822 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
84 
viii segment reporting (continued) 
for the year ended 31 december 2005 
hong kong & macau 
chinese 
mainland 
boc hong kong 
group others sub-total 
other overseas 
operations elimination total 
interest income 133,781 27,666 3,687 31,353 5,526 (3,315) 167,345 
interest expense (51,094) (13,675) (1,651) (15,326) (3,835) 3,315 (66,940) 
net interest income 82,687 13,991 2,036 16,027 1,691 - 100,405 
net fee and commission income 5,207 3,009 217 3,226 814 - 9,247 
net trading gains/(losses) 2,218 1,878 (4) 1,874 390 - 4,482 
investment (losses)/gains (866) (104) 663 559 59 - (248) 
other operating income, net 573 133 1,432 1,565 4 - 2,142 
89,819 18,907 4,344 23,251 2,958 - 116,028 
operating and administrative expenses (36,600) (5,888) (1,399) (7,287) (1,717) - (45,604) 
business tax and surcharges (5,592) (34) (26) (60) (28) - (5,680) 
operating profit 47,627 12,985 2,919 15,904 1,213 - 64,744 
non-operating income, net 529 487 190 677 175 - 1,381 
profit before impairment losses 48,156 13,472 3,109 16,581 1,388 - 66,125 
impairment (losses)/ write-back (15,404) 2,792 1,077 3,869 550 - (10,985) 
profit before tax 32,752 16,264 4,186 20,450 1,938 - 55,140 
income tax (19,409) (2,672) (142) (2,814) (320) - (22,543) 
profit after tax 13,343 13,592 4,044 17,636 1,618 - 32,597 
minority interest (5) (4,789) (311) (5,100) - - (5,105) 
net profit 13,338 8,803 3,733 12,536 1,618 - 27,492 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
85 
viii segment reporting (continued) 
hong kong & macau 
as at and for the year ended 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) 
other segment items: 
capital expenditure 5,379 592 68 660 67 - 6106 
depreciation and amortisation 5,906 636 126 762 127 - 6,795 
credit commitments 699,066 168,203 14,131 182,334 52,434 (38,072) 895,762 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
86 
viii segment reporting (continued) 
business segments are presented as the group’s secondary segment. the group provides services 
through the following main business segments: corporate banking, personal banking, treasury 
operations, 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, custody, foreign currency and 
derivative products. 
personal banking – providing services to retail customers including current accounts, savings, 
deposits, investment savings products, 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 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 comprise 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 financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
87 
viii segment reporting (continued) 
as at and for the year ended 31 december 2006 
corporate 
banking 
personal 
banking 
treasury 
operations 
investment 
banking 
insurance 
others 
elimination 
total 
interest income 96,527 88,019 84,522 679 594 536 (56,207) 214,670 
interest expense (41,111) (51,877) (54,661) (543) (19) (1,963) 56,211 (93,963) 
net interest income 55,416 36,142 29,861 136 575 (1,427) 4 120,707 
net fee and commission income 6,674 6,237 759 1,643 (543) 115 (562) 14,323 
net trading gains/(losses) 4,105 2,264 (8,656) (1,967) 433 41 1 (3,779) 
investment (losses)/gains - - (634) 2,662 293 1,469 41 3,831 
other operating income, net (37) 201 - - 22 2,550 (190) 2,546 
66,158 44,844 21,330 2,474 780 2,748 (706) 137,628 
operating and administrative expenses (19,695) (26,188) (6,398) (1,164) (233) (1,287) 1,351 (53,614) 
business tax and surcharges (3,150) (962) (2,290) (9) (8) (43) - (6,462) 
operating profit 43,313 17,694 12,642 1,301 539 1,418 645 77,552 
non-operating income, net 151 220 123 (4) 38 1,701 (1,185) 1,044 
profit before impairment losses 43,464 17,914 12,765 1,297 577 3,119 (540) 78,596 
impairment (losses)/ write-back (11,166) (569) 9 (6) 6 139 - (11,587) 
profit before tax 32,298 17,345 12,774 1,291 583 3,258 (540) 67,009 
income tax (19,857) 
profit after tax 47,152 
minority interests (5,260) 
net profit 41,892 
segment assets 1,797,363 687,592 2,727,735 23,741 20,206 117,264 (48,628) 5,325,273 
capital expenditure 1,542 2,744 105 24 19 2,978 - 7,412 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
88 
[ 
viii segment reporting (continued) 
as at and for the year ended 31 december 2005 
corporate 
banking 
personal 
banking 
treasury 
operations 
investment 
banking insurance others elimination 
total 
interest income 83,037 68,046 56,521 478 407 359 (41,503) 167,345 
interest expense (31,913) (36,169) (38,466) (371) - (1,524) 41,503 (66,940) 
net interest income 51,124 31,877 18,055 107 407 (1,165) - 100,405 
net fee and commission income 5,133 3,709 532 368 (494) (1) - 9,247 
net trading gains/(losses) 4,458 2,121 (1,930) 132 (309) 10 - 4,482 
investment (losses)/gains - - (898) 242 19 389 - (248) 
other operating income, net 13 30 - - 848 1,309 (58) 2,142 
60,728 37,737 15,759 849 471 542 (58) 116,028 
operating and administrative expenses (16,468) (24,330) (4,583) (522) (177) (516) 992 (45,604) 
business tax and surcharges (3,012) (914) (1,698) (6) (3) (47) - (5,680) 
operating profit 41,248 12,493 9,478 321 291 (21) 934 64,744 
non-operating income, net 222 410 169 4 43 1,467 (934) 1,381 
profit before impairment losses 41,470 12,903 9,647 325 334 1,446 - 66,125 
impairment (losses)/ write-back (12,529) 1,434 (5) (10) 1 124 - (10,985) 
profit before tax 28,941 14,337 9,642 315 335 1,570 - 55,140 
income tax (22,543) 
profit after tax 32,597 
minority interests (5,105) 
net profit 27,492 
segment assets 1,658,718 603,891 2,399,377 15,159 12,398 77,644 (24,381) 4,742,806 
capital expenditure 1,296 2,628 86 - 7 2,089 - 6,106 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
89 
viii segment reporting (continued) 
with effect from 1 january 2006, the internal funding transfer pricing mechanism of the bank was revised and the above tabulation of segment information is 
calculated on this new basis. the new pricing mechanism is based on market deposit and lending rates, adjusted for pre-determined margins. these margins 
reflect differentiation based on product features and maturity. previously, blended mid prices between the bank’s average cost of funding and average yield on 
interest bearing assets were used, without product or maturity differentiation. the intent of the change is to better reflect actual market conditions and the 
asset-liability management process. 
the effect of the change in basis of pricing between business segments for the period ended 31 december 2005 is summarized below. under the new basis , 
the net interest income of the treasury operation has increased as the new basis has resulted in an increase in the inter-segment pricing margin in relation to 
the funding provided by treasury operations to corporate and personal banking. 
as at and for the year ended 31 december 2005 
corporate 
banking 
personal 
banking 
treasury 
operations 
investment 
banking insurance others elimination total 
net interest expense as reported previously 52,035 36,583 12,438 107 407 (1,165) - 100,405 
effect of change-increase/(decrease) (911) (4,706) 5,617 - - - - - 
net interest expense as revised 51,124 31,877 18,055 107 407 (1,165) - 100,405 
operating profits as reported previously 42,159 17,199 3,861 321 291 (21) 934 64,744 
effect of change-increase/(decrease) (911) (4,706) 5,617 - - - - - 
operating profits as revised 41,248 12,493 9,478 321 291 (21) 934 64,744 
profit before impairment losses as reported 
previously 42,381 17,609 4,030 325 334 1,446 - 
66,125 
effect of change-increase/(decrease) (911) (4,706) 5,617 - - - - - 
profit before impairment losses as revised 41,470 12,903 9,647 325 334 1,446 - 66,125 
profit before income tax as reported previously 29,852 19,043 4,025 315 335 1,570 - 55,140 
effect of change-increase/(decrease) (911) (4,706) 5,617 - - - - - 
profit before income tax as revised 28,941 14,337 9,642 315 335 1,570 - 55,140 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
90 
ix foreign currency position for assets and liabilities by currency 
the group’s net foreign currency positions as at 31 december 2006 and 31 december 2005 are 
analysed below: 
foreign currency position 
31 december 2006 31 december 2005 
rmb 
billion 
in usd 
billion 
equivalent * 
rmb 
billion 
in usd 
billion 
equivalent * 
net on-balance sheet foreign currency 
position 666 86 485 60 
less: 
net off-balance sheet foreign currency 
position (433) (55) (171) (21) 
net foreign currency position 233 31 314 39 
less: 
foreign currency denominated net 
investments in foreign operations (110) (15) (105) (13) 
net position 123 16 209 26 
the key movements of the group’s net foreign currency position during 2006 are analysed as 
follows: 
foreign currency position 
usd billion in equivalent * 
net 
on-balance 
sheet 
net 
off-balance 
sheet 
net investments 
in foreign 
operations (ii) 
net 
position 
opening position as at 1 january 2006 60 (21) (13) 26 
- proceeds from a global offering 11 - - 11 
- spot transactions to reduce the foreign 
currency position (i) (26) - - (26) 
- funding swap transactions (i) 42 (42) - - 
- funding swap transactions expired (4) 4 - - 
- others 3 4 (2) 5 
closing position as at 31 december 2006 86 (55) (15) 16 
* the group’s foreign currency position expressed in usd equivalent in the above tables comprises all net 
foreign currency exposures as of 31 december 2006 and 2005 based on the respective year-end closing foreign 
exchange rates of each currency with the usd. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
91 
ix foreign currency position for assets and liabilities by currency (continued) 
(i) the group endeavors to manage its sources and uses of foreign currencies to minimize 
potential mismatches in accordance with management directives. 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. the prc government’s current foreign currency regulations 
require the conversion of foreign currency to be approved by relevant prc government 
authorities. the bank has significant foreign currency positions, which arose largely through 
foreign currency capital contributions from the equity holders and its foreign currency 
operations. 
in 2005, the bank entered into a foreign currency option agreement with huijin (“huijin 
option”), having a notional amount of usd 18 billion, to economically hedge a portion of its net 
foreign currency position (see note v.3). 
during the year ended 31 december 2006, the bank has entered into certain foreign 
exchange spot transactions, having an aggregate notional amount of usd 26.3 billion (2005: 
nil ), to further reduce its net foreign currency position. 
during the year ended 31 december 2006, the bank has also entered into a series of 
usd/rmb funding swaps, having an aggregate notional amount of usd 41.5 billion (2005: 
usd4.2 billion), with maturities of either 1 year or 3 years to benefit from the interest 
differentials between usd and rmb. these usd/rmb funding swaps have no impact on the 
group’s net foreign currency position. as at 31 december 2006, the outstanding notional 
amount of these transactions amounted to usd 41.5 billion (2005: usd 4.2 billion) and the 
fair value of these contracts as at 31 december 2006 amounted to rmb 2.2 billion (2005: 
rmb 0.01 billion). (see note v.3) 
subsequent to the balance sheet date and up to the date of this report, the bank has 
exercised three tranches of the options with huijin and sold usd 4.5 billion to huijin for rmb 
at the exchange rate as agreed in the foreign currency option agreement. in addition, the 
bank has entered into foreign exchange spot transactions of usd 6.8 billion to further reduce 
its net foreign currency position after the balance sheet date. 
concurrently, the bank entered into cross currency interest rate swap contracts (“cirs”) 
with a notional amount of usd 11.3 billion. under the cirs, the bank swapped in usd with 
rmb at the applicable spot rates and agreed to settle the usd in exchange for rmb after one 
year. interest is exchanged on a quarterly basis over the life of the cirs based on market 
rates (note xii). 
(ii) the group’s net investments in foreign operations represent the net assets/liabilities of 
overseas subsidiaries, branches or associated undertakings, the functional currencies of 
which are currencies other than rmb. the results of operations 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 differences” as a 
separate component of equity. these exchange differences therefore do not impact the 
consolidated profit or loss of the group. 

bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
92 
ix foreign currency position for assets and liabilities by currency (continued) 
the following table illustrates the potential impact to the income statement for a 1 percent fluctuation 
in the foreign currency exchange rates against rmb based on the net position of the group 
excluding the net structural position in foreign operations as set forth above: 
31 december 2006 31 december 2005 
profit / (loss) 
rmb million 
profit / (loss) 
rmb million 
1% appreciation/depreciation in foreign currency 
exchange rates against rmb 
+/- 1,230 
+/- 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 
take into account the correlation effect of changes in different foreign currencies, 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. 

bank of china limited 
notes to the financial statements 
as of 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
93 
ix foreign currency position for assets and liabilities by currency (continued) 
as at 31 december 2006 rmb usd hkd euro jpy gbp other total 
assets 
short-term financial assets 368,201 23,591 42,921 2,144 6,071 539 46,773 490,240 
derivative financial instruments 7,418 9,161 7,694 150 88 174 152 24,837 
due from and placements with banks and other 
financial institutions 52,087 190,521 111,983 20,386 8,831 7,103 16,929 407,840 
debt securities 875,220 703,112 169,310 46,974 30,695 5,808 48,299 1,879,418 
loans and advances to customers 1,692,980 341,398 319,103 34,360 21,940 4,516 17,509 2,431,806 
less: allowance for impairment losses (78,459) (11,937) (2,557) (458) (518) (48) (316) (94,293) 
other assets 91,362 47,466 38,358 1,398 1,371 738 4,732 185,425 
total assets 3,008,809 1,303,312 686,812 104,954 68,478 18,830 134,078 5,325,273 
liabilities 
short-term financial liabilities - 36,598 40,690 - - - 1,909 79,197 
derivative financial instruments and liabilities at 
fair value through profit or loss 9,688 73,876 28,083 282 78 762 279 113,048 
due to and placements from banks and other 
financial institutions 177,808 84,658 8,592 4,939 8,442 417 36,525 321,381 
deposits from customers 2,902,584 422,490 573,912 42,529 44,032 23,210 86,665 4,095,422 
other borrowings and bonds issued 60,000 40,187 - 15,247 3,984 786 3,367 123,571 
other liabilities 107,003 26,782 34,863 2,203 981 559 2,449 174,840 
total liabilities 3,257,083 684,591 686,140 65,200 57,517 25,734 131,194 4,907,459 
net on-balance sheet position (248,274) 618,721 672 39,754 10,961 (6,904) 2,884 417,814 
net off-balance sheet position 439,850 (468,346) 79,804 (37,825) (13,762) 7,222 156 7,099 
credit commitments 505,383 345,814 152,091 51,404 16,424 4,440 12,266 1,087,822 

bank of china limited 
notes to the financial statements 
as of 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
94 
ix foreign currency position for 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 - 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: allowance for impairment 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 financial statements 
as of 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
95 
x 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 31 december 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 - 212,626 277,614 - - - - 490,240 
derivative financial instruments - 6,466 2,516 1,699 8,181 3,321 2,654 24,837 
due from and placements with banks and 
other financial institutions - 8,702 264,913 106,193 27,909 123 - 407,840 
debt securities - - 107,557 178,296 335,588 764,725 493,252 1,879,418 
loans and advances to customers 87,331 33,259 130,984 255,756 661,993 642,817 619,666 2,431,806 
less: allowance for impairment losses (38,943) (334) (1,722) (4,381) (15,346) (18,608) (14,959) (94,293) 
other assets 365 13,322 10,934 6,419 16,862 27,048 110,475 185,425 
total assets 48,753 274,041 792,796 543,982 1,035,187 1,419,426 1,211,088 5,325,273 
liabilities 
short-term financial liabilities - 47,939 4,412 5,078 21,768 - - 79,197 
derivative financial instruments and liabilities 
at fair value through profit or loss - 2,977 22,020 16,288 40,967 18,639 12,157 113,048 
due to and placements from banks and other 
financial institutions - 181,292 78,881 19,390 23,346 18,472 - 321,381 
deposits from customers - 1,854,295 671,668 439,523 849,657 279,368 911 4,095,422 
other borrowings and bonds issued - - 947 743 5,754 22,633 93,494 123,571 
other liabilities - 71,152 15,546 7,227 49,618 13,746 17,551 174,840 
total liabilities - 2,157,655 793,474 488,249 991,110 352,858 124,113 4,907,459 
net liquidity gap 48,753 (1,883,614) (678) 55,733 44,077 1,066,568 1,086,975 417,814 

bank of china limited 
notes to the financial statements 
as of 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
96 
x 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– 5years over 5 years total 
assets 
short-term financial assets - 208,416 202,030 1,018 21 - - 411,485 
derivative financial instruments - 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: allowance for impairment 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 
other 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 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
97 
xi contingent liabilities, commitments and other off-balance sheet items 
1 legal proceedings 
as at 31 december 2006, the group was involved in certain lawsuits as defendants 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 31 december 2006, 
the group had repurchase agreements, short positions and precious metals swaps amounting to rmb 
54,806 million (2005: rmb 62,108 million). all such agreements mature within twelve months from 
inception. 
31 december 2006 31 december 2005 
precious metals - 2,617 
bills (note v. 6) - 11,968 
debt securities (note v. 5) 55,212 49,658 
total 55,212 64,243 
3 capital commitments 
the group has the following outstanding capital commitments not provided for in the accounts: 
31 december 2006 31 december 2005 
authorised and contracted but not provided for 38,741 1,893 
authorised but not contracted for 1,536 2,687 
40,277 4,580 
the above capital commitments are related to commitments to purchase building and equipment 
(including the purchasing aircraft for operating lease purpose). 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 amount 
reported as authorised but not contracted for. 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
98 
xi contingent liabilities, commitments and other off-balance sheet items 
4 operating leases 
according to the irrevocable operating lease contracts, the minimum rental payments that should be 
paid by the group in the future are summarised as: 
31 december 2006 31 december 2005 
within one year 1,604 1,371 
one to two years 1,281 1,085 
two to three years 969 807 
above three years 2,832 2,546 
total 6,686 5,809 
5 certificate treasury bonds 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 in accordance with the early redemption 
arrangement. as at 31 december 2006, the bank’s redemption commitments, representing the 
principal value of the bonds underwritten and sold by the bank, amounted to rmb 84,500 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 
31 december 2006 31 december 2005 
acceptances 217,093 195,234 
letters of guarantee issued 290,205 212,987 
letters of credit issued 109,083 101,195 
irrevocable credit commitments and others 471,441 386,346 
total 1,087,822 895,762 
7 fiduciary activities 
the group provides custody, entrusted loan administration, trustee and investment management 
services to third parties. assets that are held in a fiduciary capacity are not included in these financial 
statements. as at 31 december 2006, the group had a balance of securities and other financial 
instruments held in custody accounts amounted to approximately rmb 707,953 million (2005: rmb 
562,823million), entrusted loans of rmb 98,046 million (2005: rmb 51,626 million), and the balance 
of precious metals held in custody accounts amounted to approximately rmb 3,150 million (2005: 
rmb 2,696 million). 
bank of china limited 
notes to the financial statements 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
99 
xii events after the balance sheet date 
(1) on 16 march 2007, the national people’s congress approved the new prc enterprise income tax 
law. this legislation reduces the enterprise income tax rate for domestic enterprises from 33% to 
25% with effect from 2008. this reduction in enterprise income tax rate will directly reduce the 
group’s effective tax rate, and the group will benefit from this prospectively from 2008. the tax rate 
reduction will also affect the carrying value of the net deferred tax assets of the group's domestic 
operations as the new accounting standards for enterprise business no. 18 requires deferred tax 
items to be written down to reflect future realization at the newly enacted tax rate of 25% upon 
approval by the national people’s congress. the group has performed a preliminary assessment 
based on the relevant net deferred tax asset balance as at 31 december 2006 and estimated that 
the amount of write-down will be approximately rmb 3.8 billion. 
(2) subsequent to the balance sheet date, the bank exercised three tranches of the huijin option, 
having a notional amount of usd 4.5 billion and also entered into certain foreign exchange spot 
transactions of usd 6.8 billion to further reduce its net foreign currency exposure. 
concurrently the bank entered into a series of cirs, having a notional amount of usd 11.3 billion. 
see note ix. 

bank of china limited 
appendix i: reconciliation between prc gaap and ifrs financial information 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
100 
the consolidated balance sheet and consolidated income statement prepared under the 
international financial reporting standards(“ifrs”) of the group and the reconciliation between 
prc gaap and ifrs financial information are set out below: 
1 consolidated income statements 
2006 2005 
interest income 215,334 167,948 
interest expense (93,963) (66,940) 
net interest income 121,371 101,008 
fee and commission income 17,139 12,698 
fee and commission expense (2,816) (3,451) 
net fee and commission income 14,323 9,247 
net trading (losses)/gains (1,544) 4,283 
net gains/(losses) on investment securities 1,132 (582) 
other operating income 13,096 11,150 
impairment losses on loans and advances (12,342) (11,486) 
operating expenses and others (68,731) (59,984) 
operating profit 67,305 53,636 
share of results of associates and joint ventures 632 175 
profit before income tax 67,937 53,811 
income tax expense (19,673) (22,253) 
profit for the year 48,264 31,558 
attributable to: 
equity holders of the bank 42,830 25,921 
minority interest 5,434 5,637 
48,264 31,558 
earnings per share for profit attributable to the 
equity holders of the bank during the period 
(renminbi per ordinary share) 
- basic and diluted 0.18 0.14 
dividends 
dividends declared and paid during the year - 12,737 
dividends proposed after the balance sheet date 10,154 1,375 
10,154 14,112
bank of china limited 
appendix i: reconciliation between prc gaap and ifrs financial information 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
101 
2 consolidated balance sheet 
31 december 2006 31 december 2005 
assets 
cash and due from banks 39,812 41,082 
balances with central banks 379,631 316,941 
placements with banks and other financial 
institutions 399,138 332,099 
government certificates of indebtedness for bank 
notes issued 36,626 35,586 
precious metals 42,083 26,974 
trading assets and other financial instruments at 
fair value through profit or loss 115,828 111,782 
derivative financial instruments 24,837 16,808 
loans and advances to customers, net 2,337,726 2,152,112 
investment securities 
- available-for-sale 815,178 602,221 
- held-to-maturity 461,140 607,459 
- loans and receivables 500,336 361,851 
investment in associates and joint ventures 5,931 5,061 
property and equipment 86,200 62,417 
investment property 8,221 8,511 
deferred income tax assets 21,396 20,504 
other assets 53,570 38,640 
total assets 5,327,653 4,740,048 

bank of china limited 
appendix i: reconciliation between prc gaap and ifrs financial information 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
102 
2 consolidated balance sheet (continued) 
31 december 2006 31 december 2005 
liabilities 
due to banks and other financial institutions 178,777 134,217 
due to central banks 42,374 30,055 
bank notes in circulation 36,823 35,731 
certificates of deposits and placements from 
banks and other financial institutions 146,908 212,626 
derivative financial instruments and liabilities at 
fair value through profit or loss 113,048 91,174 
due to customers 4,091,118 3,699,464 
bonds issued 60,173 60,179 
other borrowings 63,398 52,164 
current tax liabilities 18,149 23,459 
retirement benefit obligations 7,444 7,052 
deferred income tax liabilities 3,029 2,136 
other liabilities 153,456 136,272 
total liabilities 4,914,697 4,484,529 
equity 
capital and reserves attributable to equity 
holders of the bank 
share capital 253,839 209,427 
capital reserve 66,617 (5,954) 
statutory reserves 10,380 5,987 
general and regulatory reserves 13,934 5,109 
undistributed profits 38,425 10,188 
reserve for fair value changes of 
available-for-sale securities 2,009 1,899 
currency translation differences (2,071) (237) 
treasury shares (216) - 
382,917 226,419 
minority interest 30,039 29,100 
total equity 412,956 255,519 
total equity and liabilities 5,327,653 4,740,048
bank of china limited 
appendix i: reconciliation between prc gaap and ifrs financial information 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
103 
3 reconciliation between prc gaap and ifrs financial information 
net assets 
31 december 
net profit 
for the year ended 31 
december 
2006 2005 2006 2005 
prc gaap figures 388,254 233,842 41,892 27,492 
adjustments for accounting standard 
differences: 
-reversal of revaluation surplus and 
corresponding depreciation (1) (7,693) (7,999) 306 427 
-fair value measurement on investment 
properties (2) 3,318 2,816 502 1,695 
-equity securities classified as 
available-for-sale financial assets and 
measured at fair value(3) 2,742 1,775 - - 
-early retirement benefit obligation (4) (5,316) (5,097) (219) (2,627) 
-cost method applied on precious metals (5) (791) (637) (154) (329) 
-rmb 500 million start-up fund for annuity 
plan (6) - - - (500) 
-deferred tax and above item impact (7) 1,866 992 184 290 
-minority interests effect and others 537 727 319 (527) 
sub-total (5,337) (7,423) 938 (1,571) 
ifrs figures 382,917 226,419 42,830 25,921 
(1) reversal of revaluation surplus and corresponding depreciation 
under prc gaap, the bank recorded an asset revaluation adjustment of rmb 10,432 million as at 
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 recognised under prc gaap, should be reversed under ifrs. 

bank of china limited 
appendix i: reconciliation between prc gaap and ifrs financial information 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
104 
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 less 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 recognised 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 
recognised at cost and subsequently re-measured at fair value at the balance sheet date by the 
group. according to ias 2 inventories, precious metals that are not related to the group’s precious 
metals trading activities are carried at cost. 
(6) rmb 500 million start-up fund for annuity plan 
boc established an annuity plan to provide supplementary retirement benefits to its domestic 
current employees. huijin, the parent company, committed a start-up fund of rmb 500 million for 
the annuity plan in 2005. ifrs requires recording this amount in operating expenses and capital 
reserve. 
(7) deferred tax and above item 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. 

bank of china limited 
appendix ii: unaudited net profit after deducting non-routine items 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
105 
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 analysed as follows: 
2006 2005 
net profit 41,892 27,492 
add / (less): non-routine items 
– net gain on disposal of long-term equity 
investments (770) 111 
– non-operating income (1) (2,298) (2,566) 
– non-operating expense (2) 1,254 1,185 
– write-back of the impairments recognised in 
previous years (3) (839) 
(697) 
income tax adjustment 583 649 
net profit after deducting the non-routine items 39,822 26,174 
(1) non-operating income refers to income which are not directly attributable to business operating 
activities, including net gains from disposal of fixed assets, gains from fixed assets physical count, 
penalty income 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 iii: unaudited return on net assets and earnings per share 
for the year ended 31 december 2006 
(amount in millions of renminbi, unless otherwise stated) 
106 
the statement is prepared in accordance with the requirements “calculation and disclosure of return 
on net assets and earnings per share” no. 9 issued by the csrc. 
2006 2005 
net assets as at 31 december 388,254 233,842 
net assets for the year (weighted average) (1) 319,472 217,866 
weighted average number of ordinary shares in 
issue (million) (note v. 39) 236,055 186,425 
net profit for the year 41,892 27,492 
return on net asset (weighted average) (%) 13.11% 12.62% 
earnings per share (rmb per share) (note v. 39) 0.18 0.15 
non-routine profit for the year 2,070 1,318 
net profit after deducting the non-routine items 39,822 26,174 
return on net asset after deducting 
non-routine items (weighted average) (%) 12.46% 12.01% 
earnings per share after deducting 
non-routine items (rmb per share) 0.17 0.14