Bank of China (Macau)

Bank of China began operating in Macau in 1950, initially as a representative office to support financial transactions for Chinese communities and local enterprises. In 1995, it was officially designated by the People's Bank of China as one of the two currency-issuing banks in Macau, alongside Banco Nacional Ultramarino. In July 2001, the Macau branch was reorganized as the Bank of China Limited Macau Branch following the restructuring of Bank of China as a joint-stock commercial bank. Since then, the bank has expanded significantly in scale and services, providing a full range of personal, corporate, and cross-border financial services. In 2022, Bank of China (Macau) launched a dedicated platform for Renminbi clearing services in the Greater Bay Area, further consolidating its strategic importance in regional finance. As of 2024, the bank continues to operate under the leadership of President Jia Tianbing, maintaining the largest market share in Macau’s banking sector by both assets and employee base. == Note-issuing authority ==

Bank of China (Macau), together with Banco Nacional Ultramarino (BNU), is one of the two officially designated note-issuing banks in the Macao Special Administrative Region. The right to issue currency was granted by the Government of Macao through the Monetary Authority of Macao (AMCM), and Bank of China (Macau) began issuing Macanese patacas (MOP) on 16 October 1995. Prior to that, BNU had been the sole note-issuing authority in Macao since the late 19th century. Under the legal framework governing currency issuance in Macao, both BOC (Macau) and BNU sign periodic agreements with the AMCM, allowing them to issue banknotes in parallel. The latest extension of these agreements was signed in 2020, enabling the two banks to continue issuing legal tender in Macao for another decade. Banknotes issued by BOC (Macau) and BNU have equal legal tender status and circulate side by side, though they differ in design and security features. Bank of China (Macau) currently issues banknotes in denominations of MOP 10, 20, 50, 100, 500, and 1,000. In addition to regular banknotes, it has issued multiple commemorative notes, such as the 2008 Beijing Olympics series, the 20th anniversary of Macao’s return to China in 2019, and special zodiac-themed notes in collaboration with AMCM. These commemorative issues are often printed in limited quantities and are popular among collectors. All BOC (Macau) banknotes are produced under strict supervision by the AMCM and are printed by certified international currency printing companies. Recent series have incorporated enhanced security features such as color-shifting inks, watermarks, windowed security threads, microtext, and complex background patterns. In recent years, Bank of China (Macau) has also issued polymer-based notes, improving durability and anti-counterfeiting capabilities. The bank plays a critical role in supporting Macao’s monetary stability and is involved in research and innovation in currency design, fintech integration, and regional settlement mechanisms, particularly in relation to the Guangdong-Hong Kong-Macao Greater Bay Area. ==References==