The China Construction Bank (CCB) is one of the largest banks in the People's Republic of China. 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, Jianyin and Huijin entered into a separation agreement, dated September 15, 2004, pursuant to which China Construction Bank was separated into their bank and Jianyin.
In 2005, Bank of America acquired a 9% stake in China Construction Bank for $3 billion. 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.
