In June 2004, with the banking reform in China well under way, the Sate Council approved BOCOM’s general plan on deepening the reform of its shareholding structure in a bid to further develop BOCOM into a modern banking enterprise under a century old national brand with improved corporate governance, adequate capital, strict internal controls, safe operations, excellent services and return, and strong international competitiveness. Through the reform, BOCOM has completed financial reorganization, successfully introduced mainland and overseas strategic investors like HSBC, the national Social Security Fund and Central Huijin Company, and enhanced its organizational structure. On June 23, 2005, BOCOM was listed in Hong Kong, the first China based commercial bank of its kind to get listed outside of the Chinese mainland. After 18 years of development and intensive reform of its joint stock system, BOCOM has grown into a “well-established modern commercial bank operating under a century old national brand with its well-defined development strategy, perfected corporate governance, well developed banking network, advanced operation and management, and quality banking service and sound financial status”.