The Bank of China was officially established on February 5, 1912 with the approval of Dr. Sun Yat-sen. It has its headquarters at No. 1, Fuxingmen Nei Avenue, Xicheng District, Beijing and is a large state-owned bank under the management of the central government and a vice-ministerial-level unit of the state. As a state-owned financial institution under the leadership of the Communist Party of China, the Bank is guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era. It is a note-issuing bank in Hong Kong and Macau, and its businesses include commercial banking, investment banking, funds, insurance, airline leasing, etc.