Bank of China launches unique products for Games

In order to serve the Beijing 2008 Olympic Games, Bank of China (BOC) has launched a series of financial products.

Olympic Growth Account

"Olympic Growth Account", China's first Olympic deposit book, featuring the Fuwa - the official mascots of the Beijing 2008 Olympic Games - has been unveiled by Bank of China (BOC). The bank, a partner of the Games, has aimed the product at providing children and youth under 18 with a unique deposit book, which can not only provide ordinary bankbook functions, but also various kinds of flexible saving choices.

The "Olympic Growth Account" provides a variety of flexible savings portfolios aimed at training the youth to be aware of personal financing and assist the whole family in achieving faster capital accumulation. Before the Beijing 2008 Olympics Games begin, lucky clients of the "Olympic Growth Account" will obtain tickets to the Games through a draw of lots.

Olympic-themed credit card products like BOC VISA Olympic Credit Card, and Air China Companion-BOC VISA Olympic Credit Card

BOC VISA Olympic Credit Card was issued on December 8, 2004, and printed on the card is the Chinese seal, with five background colors for holders to choose from - blue, black, red, yellow and green - in keeping with the colors of the Olympic rings. The Air China Companion-BOC VISA Olympic Credit Card also comes in five varieties, with five Fuwa figures in different colors. Those booking Games tickets with BOC's Olympic-themed VISA credit cards not only have a higher likelihood of success in booking the coveted tickets, but are also eligible to participate in the promotional activities and win prizes.

Olympic Fuwa Deposit Receipt of Etiquette

As the unique banking partner of the Beijing Olympics, BOC launched the Olympic Fuwa Deposit Receipt of Etiquette at the very beginning of this year.

The themes of the envelopes are prosperity, happiness, passion, health and good luck, indicated by five Fuwa figures. Such envelopes are very suitable as new year's gifts and for personal collections because of their sporty and fashionable characters.

The Olympic Fuwa Deposit Receipt of Etiquette is exquisitely printed. It is divided into two kinds of accounts - lump sum deposit and withdrawal account, and time or saving optional deposit account. The time or saving optional deposit receipt has the flexibility of withdrawal at any time as a savings deposit, and also enjoys a preferential interest rate close to that for time deposit.

The transaction method for the deposit receipt is the same as that of BOC's normal lump-sum deposit and withdrawal deposit receipt, and time or saving optional deposit receipt.

The Olympic Fuwa Deposit Receipt for Collection

Since July 2007, BOC has launched the Olympic Fuwa Deposit Receipt on the basis of BOC's renminbi time deposit receipt. It is another Olympic product themed on the Olympic Mascots - Beibei, Jingjing, Huanhuan, Yingying and Nini. The minimum amount is set at 30,000 yuan, and the deposit period can be for either three months, six months or one year. It is reported that only 500,000 copies of the Olympic Fuwa Deposit Receipts for Collection will be issued. Two hundred lucky clients of the deposit receipt will obtain tickets to the Beijing 2008 Olympic Games through a lottery.

BOC Olympic Temporary Account for Overseas Institutions

In order to offer better and more convenient financial services to the International Olympic Committee, national or regional Olympic committees, foreign media and sponsors, sports organizations, and other overseas institutions that will come to China before and during the Beijing 2008 Olympic Games and Paralympic Games, the BOC has, with the help of Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG), issued a Guide to Overseas Institutions Opening Renminbi Temporary Deposit Accounts during the Beijing 2008 Olympic Games and a Guide to Olympic Temporary Foreign Exchange Account, both ratified by the People's Bank of China and State Administration of Foreign Exchange.

BOC is the only financial institution that can open Olympic temporary accounts for overseas institutions. With written confirmation from BOCOG, overseas institutions listed in the directory provided by the committee can open renminbi temporary accounts and temporary foreign exchange accounts, and conduct other related renminbi and foreign exchange payment and balancing settlements.

BOC VISA Olympic Prepaid Card

On May 21, 2007, BOC Hong Kong launched the BOC VISA Olympic Prepaid Card in Hong Kong. BOC VISA Olympic Prepaid Card was the first prepaid card launched in Hong Kong, with stored value in Hong Kong dollars and with the Fuwa figures embossed on the card surface. As the name suggests, BOC VISA Olympic Prepaid Card enables clients to decide the prepaid amount from HK$100 ($12.77) to HK$5,000 ($638.5).

(China Daily 08/05/2008 page25)