The China Construction Bank (CCB) (often abbreviated as 建行) is one of the 'big four' banks in the People's Republic of China. To date, it is ranked as the nation's second largest. and the 4th largest in the world by market capitalization. The bank has approximately 13629 domestic branches. In addition, it maintains overseas branches in Hong Kong, Singapore, Frankfurt, Johannesburg, Tokyo and Seoul, as well as representative offices in New York, London and Sydney.
China Construction Bank Corporation was formed as a joint-stock commercial bank in September 2004 as a result of a separation procedure undertaken by their predecessor, China Construction Bank, under the PRC Company Law. Following the China Banking Regulatory Committee's approval on September 14, 2004, the next day the bank (Jianyin) became a separate legal entity, owned by the Chinese government holding company, (Central Huijin Investment Company; Huijin).
On or about June 5, 2008, Bank of America purchased 6 billion H-shares for approximately HK$2.42 per share using call options under a formula in the initial acquisition agreement. Bank of America now holds about 25.1 billion H-shares, representing about 10.75 percent of CCB's issued shares. Bank of America may not sell the 6 billion shares that it purchased from Huijin using the call option before August 29, 2011 without prior consent of CCB. Bank of America still has the option to purchase additional shares.
China Construction Bank is a member of the Global ATM Alliance, a joint venture of several major international banks that allows customers of the banks to use their ATM card or check card at another bank within the Global ATM Alliance with no fees when traveling internationally. Other participating banks are: